Elite Choice Properties INC

Tax-deductible

Milledgeville, GA501(c)(3)HousingEIN 81-3886910Revenue $956K in FY2025

On file with the IRSmhahomes.org545 W Martin Luther King JR Dr, 31061-2740 · Milledgeville, GATax-exempt since Nov 2017Publicly supported — 509(a)(2)

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Provide housing under hud's multi-family program. The property consists of 149 family units. This property transitioned from hud's public housing program to hud's multi-family program under hud's rad program.

501(c)(3) charity; gifts are tax-deductible.
30¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $191K a year · 21% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
30%
of spending
Concern: 30% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.8M
93% of total assets
Concern: liabilities are 93% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$956K
+0.5% vs prior year
Spent
$1.1M
To programs
30%
Net assets
$267K
By yearFY2020–FY2025
Revenue
$956K
FY2025▲ +0.5%
Tap a bar for its year
Revenue by fiscal year
FY2020$975K
FY2021$860K
FY2022$810K
FY2023$842K
FY2024$950K
FY2025$956K
Expenses
$1.1M
FY2025▼ -7%
Tap a bar for its year
Expenses by fiscal year
FY2020$936K
FY2021$1.2M
FY2022$1.1M
FY2023$1.1M
FY2024$1.2M
FY2025$1.1M
Net assets
$267K
FY2025▼ -31%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.1M
FY2022$824K
FY2023$595K
FY2024$385K
FY2025$267K

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

30 cents of each dollar spent went to programs.

Program services 30% · $322K Management & general 70% · $752K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Chairman
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Commissioner
$0Pt VII · Sec A
Commissioner
$0Pt VII · Sec A
Commissioner
$0Pt VII · Sec A
See Elite Choice Properties INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable housing for families through HUD programs.

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1 program · $1.1M · in their own filed words · FY2025
01

Provides multi-family housing under HUDs RAD Program for low income families. The program is managed by the Housing Development Corp. of Dekhalb County in Georgia.

$1.1Mprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$956K
Ln 12
Gifts and grantsLn 1h$681K
Fees for servicesLn 2g$236K
Other incomeLn 4–11$39K
Money outPt IX
$1.1M
Ln 25
Programscol B$322K
Managementcol C$752K
Owns and owesPt X
$267K
net assets · Ln 32
Cash and savingsLn 1–2$50K
Total assetsLn 16$4.1M
LiabilitiesLn 26$3.8M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$681K
Government grantsLn 1e$900K
Fees for servicesLn 2g$236K
Investment incomeLn 3$172
Other incomeLn 4–11$39K
Total revenueLn 12$956K
Assets in detailPt X, end of year
CashLn 1$19K
SavingsLn 2$30K
Cash and savings togetherLn 1–2$50K
Land, buildings, equipmentLn 10c$3.8M
Other assetsLn 15$188K
Total assetsLn 16$4.1M
LiabilitiesLn 26$3.8M
Net assetsLn 32$267K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$54K$50K
Land, buildings, equipmentLn 10c$4.0M$3.8M
Total assetsLn 16$4.3M$4.1M
LiabilitiesLn 26$3.9M$3.8M
Net assetsLn 32$385K$267K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$85K$85K
Other salaries and wagesLn 7$82K$82K
Other employee benefitsLn 9$46K$46K
Payroll taxesLn 10$15K$15K
Management feesLn 11a$101K$101K
Legal feesLn 11b$25K$25K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$239K$239K
Office expensesLn 13$9K$9K
Information technologyLn 14$23K$23K
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$119K$119K
Depreciation, depletion and amortizationLn 22$208K$208K
InsuranceLn 23$49K$49K
Other expenses (24a–d)Ln 24$43K$43K
All other expensesLn 24e$10K$10K
Total functional expensesLn 25$1.1M$322K$752K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $956K$1.1M−$118K$267K 990 PDF
FY2024 $950K$1.2M−$210K$385K 990 PDF
FY2023 $842K$1.1M−$228K$595K 990 PDF
FY2022 $810K$1.1M−$301K$824K 990 PDF
FY2021 $860K$1.2M−$324K$1.1M 990 PDF
FY2020 $975K$936K$39K$1.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $955,508 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $654,285$681,190
I-9 Program service revenuePrior year $256,236$235,607
I-10 Investment incomePrior year $231$172
I-11 Other revenuePrior year $39,569$38,539
I-12 Total revenuePrior year $950,321$955,508
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $242,071$227,733
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $918,664$846,137
I-18 Total expensesPrior year $1,160,735$1,073,870
I-19 Revenue less expensesPrior year −$210,414−$118,362
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $955,508 across 8 lines filed
VIII-1e Government grants$899,914
VIII-1f All other contributions, gifts and grants−$218,724
VIII-1h Total contributions, gifts and grants$681,190
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $235,607$235,607
VIII-3 Investment incomeRelated to mission $172$172
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $38,539$38,539
VIII-12 Total revenueRelated to mission $274,318 · Unrelated business $0 · Excluded from tax $0$955,508
Part IX · Statement of functional expenses $1,073,870 across 16 lines filed
IX-5 Pay of current officers, directors and key staffManagement $84,643$84,643
IX-7 Other salaries and wagesPrograms $82,430$82,430
IX-9 Other employee benefitsManagement $45,775$45,775
IX-10 Payroll taxesManagement $14,885$14,885
IX-11a Management feesManagement $101,201$101,201
IX-11b Legal feesManagement $24,985$24,985
IX-11c Accounting feesManagement $18,165$18,165
IX-11g Other fees for servicesPrograms $239,483$239,483
IX-13 Office expensesManagement $8,717$8,717
IX-14 Information technologyManagement $22,556$22,556
IX-19 Conferences, conventions and meetingsManagement $1,856$1,856
IX-20 InterestManagement $118,996$118,996
IX-22 Depreciation, depletion and amortizationManagement $207,773$207,773
IX-23 InsuranceManagement $49,366$49,366
IX-24 Other expenses (24a–d)Management $42,824$42,824
IX-24e All other expensesManagement $10,215$10,215
IX-25 Total functional expensesPrograms $321,913 · Management $751,957 · Fundraising $0$1,073,870
Part X · Balance sheet $4,102,683 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $26,072$19,483
X-2 Savings and temporary cash investmentsStart of year $27,780$30,293
X-3 Pledges and grants receivableStart of year $16,540$3,684
X-4 Accounts receivableStart of year $6,327$5,681
X-8 Inventories for sale or useStart of year $8,525$8,525
X-9 Prepaid expenses and deferred chargesStart of year $27,475$28,385
X-10c Land, buildings and equipment, netStart of year $3,982,550$3,818,606
X-15 Other assetsStart of year $198,176$188,026
X-16 Total assetsStart of year $4,293,445$4,102,683
X-17 Accounts payable and accrued expensesStart of year $398,425$364,187
X-19 Deferred revenueStart of year $6,261$7,677
X-25 Other liabilitiesStart of year $654,318$664,425
X-26 Total liabilitiesStart of year $3,908,399$3,835,999
X-27 Net assets without donor restrictionsStart of year $385,046$266,684
X-32 Total net assets or fund balancesStart of year $385,046$266,684
X-33 Total liabilities and net assetsStart of year $4,293,445$4,102,683
Part XI · Reconciliation of net assets $266,684 net assets at year end
XI-1 Total revenue$955,508
XI-2 Total expenses$1,073,870
XI-3 Revenue less expenses−$118,362
XI-4 Net assets at start of year$385,046
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$266,684

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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