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Caleb Housing Corporation

Tax-deductible

Lynn, MA501(c)(3)HousingEIN 81-4497049Revenue $1.8M in FY2024

On file with the IRSthecalebfoundation.org270 Broadway, 01904-1806 · Lynn, MATax-exempt since Mar 2017Publicly supported — 509(a)(2)

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To develop, acquire, preserve and maintain affordable Housing for low-income individuals.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $2K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$8.8M
105% of total assets
Concern: liabilities are 105% of assets; over 80%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+66% vs prior year
Spent
$1.8M
To programs
100%
Net assets
−$417K
By yearFY2020–FY2024
Revenue
$1.8M
FY2024▲ +66%
Tap a bar for its year
Revenue by fiscal year
FY2020$776K
FY2021$823K
FY2022$931K
FY2023$1.1M
FY2024$1.8M
Expenses
$1.8M
FY2024▲ +59%
Tap a bar for its year
Expenses by fiscal year
FY2020$690K
FY2021$800K
FY2022$964K
FY2023$1.1M
FY2024$1.8M
Net assets
−$417K
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$42K
FY2021$65K
FY2022$31K
FY2023−$404K
FY2024−$417K

From the FY2024 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: FY2024. IRS ruling in Mar 2017.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.8M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
Roxie Severance
Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Bill Brauner
Director
$0Pt VII · Sec A
Holly Burbank
Vice Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
See Caleb Housing Corporation 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

Develops, acquires, and preserves affordable housing for low-income individuals.

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1 program · $1.8M · in their own filed words · FY2024
01

Provide affordable housing to low-income individuals.

$1.8Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$935K
Fees for servicesLn 2g$812K
Investment incomeLn 3$7K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.8M
Owns and owesPt X
−$417K
net assets · Ln 32
Cash and savingsLn 1–2$229K
Total assetsLn 16$8.4M
LiabilitiesLn 26$8.8M
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$935K
Government grantsLn 1e$935K
Fees for servicesLn 2g$812K
Investment incomeLn 3$7K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$169K
SavingsLn 2$59K
Cash and savings togetherLn 1–2$229K
Land, buildings, equipmentLn 10c$7.8M
Other assetsLn 15$263K
Total assetsLn 16$8.4M
LiabilitiesLn 26$8.8M
Net assetsLn 32−$417K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$209K$229K
Land, buildings, equipmentLn 10c$8.0M$7.8M
Total assetsLn 16$8.5M$8.4M
LiabilitiesLn 26$8.9M$8.8M
Net assetsLn 32−$404K−$417K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$99K$99K
Legal feesLn 11b$14K$14K
Accounting feesLn 11c$21K$21K
Advertising and promotionLn 12$543$543
Office expensesLn 13$20K$20K
InterestLn 20$377K$377K
Payments to affiliatesLn 21$17K$17K
Depreciation, depletion and amortizationLn 22$338K$338K
InsuranceLn 23$66K$66K
Other expenses (24a–d)Ln 24$668K$668K
All other expensesLn 24e$146K$146K
Total functional expensesLn 25$1.8M$1.8M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.8M$1.8M−$13K−$417K 990 PDF
FY2023 $1.1M$1.1M−$51K−$404K 990 PDF
FY2022 $931K$964K−$33K$31K 990 PDF
FY2021 $823K$800K$23K$65K 990 PDF
FY2020 $776K$690K$86K$42K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,754,180 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $559,262$935,113
I-9 Program service revenuePrior year $493,572$812,278
I-10 Investment incomePrior year $6,370$6,789
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,059,204$1,754,180
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,110,521$1,767,315
I-18 Total expensesPrior year $1,110,521$1,767,315
I-19 Revenue less expensesPrior year −$51,317−$13,135
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,754,180 across 5 lines filed
VIII-1e Government grants$935,113
VIII-1h Total contributions, gifts and grants$935,113
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $812,278$812,278
VIII-3 Investment incomeRelated to mission $6,789$6,789
VIII-12 Total revenueRelated to mission $819,067 · Unrelated business $0 · Excluded from tax $0$1,754,180
Part IX · Statement of functional expenses $1,767,315 across 11 lines filed
IX-11a Management feesPrograms $99,022$99,022
IX-11b Legal feesPrograms $13,836$13,836
IX-11c Accounting feesPrograms $21,005$21,005
IX-12 Advertising and promotionPrograms $543$543
IX-13 Office expensesPrograms $20,398$20,398
IX-20 InterestPrograms $376,631$376,631
IX-21 Payments to affiliatesPrograms $17,337$17,337
IX-22 Depreciation, depletion and amortizationPrograms $338,245$338,245
IX-23 InsurancePrograms $66,496$66,496
IX-24 Other expenses (24a–d)Programs $667,820$667,820
IX-24e All other expensesPrograms $145,982$145,982
IX-25 Total functional expensesPrograms $1,767,315 · Management $0 · Fundraising $0$1,767,315
Part X · Balance sheet $8,391,667 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $136,685$169,413
X-2 Savings and temporary cash investmentsStart of year $71,863$59,293
X-4 Accounts receivableStart of year $41,444$55,265
X-10c Land, buildings and equipment, netStart of year $8,032,287$7,844,249
X-15 Other assetsStart of year $242,243$263,447
X-16 Total assetsStart of year $8,524,522$8,391,667
X-17 Accounts payable and accrued expensesStart of year $432,360$397,134
X-19 Deferred revenueStart of year $6,858$13,638
X-25 Other liabilitiesStart of year $235,970$281,843
X-26 Total liabilitiesStart of year $8,928,339$8,808,619
X-27 Net assets without donor restrictionsStart of year −$403,817−$416,952
X-32 Total net assets or fund balancesStart of year −$403,817−$416,952
X-33 Total liabilities and net assetsStart of year $8,524,522$8,391,667
Part XI · Reconciliation of net assets −$416,952 net assets at year end
XI-1 Total revenue$1,754,180
XI-2 Total expenses$1,767,315
XI-3 Revenue less expenses−$13,135
XI-4 Net assets at start of year−$403,817
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$416,952

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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