New Hope Development Services INC FY2024 filing

Tax-deductible

Jeffersonvlle, IN501(c)(3)Since 2017HousingEIN 82-0818155Revenue $3.2M in FY2024

On file with the IRS725 Wall St, 47130-3616 · Jeffersonvlle, INTax-exempt since Feb 2018Publicly supported charity — 170(b)(1)(A)(vi)

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To foster, promote, develop and provide housing that is safe, decent and affordable to low-income and moderate-income individuals and families in the region.

501(c)(3) charity; gifts are tax-deductible.
44¢ of each $1 spent went to programs.
$172K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
4 of 5
filings with a surplus
Average surplus $1.6M a year · 54% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
44%
of spending
Concern: 44% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$172K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.9M
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.2M
+1% vs prior year
Spent
$1.4M
To programs
44%
Net assets
$8.7M
By yearFY2020–FY2024
Revenue
$3.2M
FY2024▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.8M
FY2021$3.2M
FY2022$1.1M
FY2023$3.2M
FY2024$3.2M
FY2024$6.6M
Expenses
$1.4M
FY2024▼ -14%
Tap a bar for its year
Expenses by fiscal year
FY2020$968K
FY2021$1.4M
FY2022$1.3M
FY2023$1.6M
FY2024$1.4M
FY2024$1.6M
Net assets
$8.7M
FY2024▲ +27%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.7M
FY2021$5.5M
FY2022$5.3M
FY2023$6.8M
FY2024$8.7M
FY2024$13.5M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2018.

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

Where the money goes

44 cents of each dollar spent went to programs.

Program services 44% · $603K Management & general 56% · $772K

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

10 people listed on the 990; $172K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
CEO/President (thru 1/13/23)
$171,611Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
SVP Finance (thru 3/1/24)
$0Pt VII · Sec A
$0Pt VII · Sec A
Assistant Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

James Bosley’s $659K as Former CEO/President (thru 1/13/2 is at the 100th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2024FY2023FY2022
James Bosley$658,602$171,611$304,731$389,433

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See New Hope Development Services 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 15aYes

Programs and updates

Builds and provides safe, decent, affordable housing for low- and moderate-income families.

Provided by the organization

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1 program · $603K · in their own filed words · FY2023
01

To foster, promote, develop and provide housing that is safe, decent and affordable to low-income and moderate-income individuals and families in the region.

$603Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.2M
Ln 12
Gifts and grantsLn 1h$2.4M
Fees for servicesLn 2g$521K
Other incomeLn 4–11$260K
Money outPt IX
$1.4M
Ln 25
Programscol B$603K
Managementcol C$772K
Owns and owesPt X
$8.7M
net assets · Ln 32
Cash and savingsLn 1–2$97K
Total assetsLn 16$15.6M
LiabilitiesLn 26$6.9M
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Government grantsLn 1e$2.2M
Fees for servicesLn 2g$521K
Investment incomeLn 3$23
Other incomeLn 4–11$260K
Total revenueLn 12$3.2M
Assets in detailPt X, end of year
CashLn 1$97K
Cash and savings togetherLn 1–2$97K
Land, buildings, equipmentLn 10c$13.8M
Other assetsLn 15$522K
Total assetsLn 16$15.6M
LiabilitiesLn 26$6.9M
Net assetsLn 32$8.7M
OperationsPt I, VI
EmployeesI 52
VolunteersI 64
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$271K$97K
Land, buildings, equipmentLn 10c$11.6M$13.8M
Total assetsLn 16$14.1M$15.6M
LiabilitiesLn 26$7.2M$6.9M
Net assetsLn 32$6.8M$8.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$46K$46K
Pension plan contributionsLn 8$2K$2K
Other employee benefitsLn 9$6K$6K
Payroll taxesLn 10$23K$23K
Management feesLn 11a$480K$480K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$26K$26K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$9K$9K
Information technologyLn 14$1K$1K
OccupancyLn 16$181K$181K
TravelLn 17$2K$2K
InterestLn 20$18K$17K$1K
Depreciation, depletion and amortizationLn 22$318K$318K
Other expenses (24a–d)Ln 24$253K$84K$169K
Total functional expensesLn 25$1.4M$603K$772K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $3.2M$1.4M$1.8M$8.7M 990 PDF
FY2023 $3.2M$1.6M$1.6M$6.8M 990 PDF
FY2022 $1.1M$1.3M−$199K$5.3M 990 PDF
FY2021 $3.2M$1.4M$1.8M$5.5M 990 PDF
FY2020 $3.8M$968K$2.9M$3.7M 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 FY2024 990 (6 parts)
Part I · Summary $3,208,145 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,776,946$2,427,905
I-9 Program service revenuePrior year $279,344$520,571
I-10 Investment incomePrior year $0$23
I-11 Other revenuePrior year $115,631$259,646
I-12 Total revenuePrior year $3,171,921$3,208,145
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 $402,633$77,136
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,198,916$1,297,229
I-18 Total expensesPrior year $1,601,549$1,374,365
I-19 Revenue less expensesPrior year $1,570,372$1,833,780
Part VI · Governance 4 of 4 board members independent, no flags
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,208,145 across 7 lines filed
Lines not itemized here account for −$132,984 of total revenue; see the IRS return.
VIII-1e Government grants$2,179,519
VIII-1f All other contributions, gifts and grants$248,386
VIII-1h Total contributions, gifts and grants$2,427,905
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $520,571$520,571
VIII-3 Investment incomeExcluded from tax $23$23
VIII-6 Net rental income or lossRelated to mission $392,630$392,630
VIII-12 Total revenueRelated to mission $780,217 · Unrelated business $0 · Excluded from tax $23$3,208,145
Part IX · Statement of functional expenses $1,374,365 across 16 lines filed
IX-7 Other salaries and wagesManagement $45,689$45,689
IX-8 Pension plan contributionsManagement $2,376$2,376
IX-9 Other employee benefitsManagement $5,711$5,711
IX-10 Payroll taxesManagement $23,360$23,360
IX-11a Management feesManagement $480,000$480,000
IX-11b Legal feesManagement $6,211$6,211
IX-11c Accounting feesManagement $25,869$25,869
IX-11g Other fees for servicesPrograms $1,779$1,779
IX-12 Advertising and promotionManagement $1,182$1,182
IX-13 Office expensesManagement $8,501$8,501
IX-14 Information technologyManagement $1,022$1,022
IX-16 OccupancyPrograms $181,212$181,212
IX-17 TravelManagement $2,113$2,113
IX-20 InterestPrograms $17,281 · Management $1,084$18,365
IX-22 Depreciation, depletion and amortizationPrograms $318,197$318,197
IX-24 Other expenses (24a–d)Programs $84,231 · Management $168,547$252,778
IX-25 Total functional expensesPrograms $602,700 · Management $771,665 · Fundraising $0$1,374,365
Part X · Balance sheet $15,605,871 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $270,706$97,321
X-4 Accounts receivableStart of year $963,730$1,178,749
X-9 Prepaid expenses and deferred chargesStart of year $26,447$31,365
X-10c Land, buildings and equipment, netStart of year $11,624,866$13,776,163
X-15 Other assetsStart of year $1,135,329$522,273
X-16 Total assetsStart of year $14,071,279$15,605,871
X-17 Accounts payable and accrued expensesStart of year $1,035,801$1,129,678
X-25 Other liabilitiesStart of year $2,114,996$2,329,739
X-26 Total liabilitiesStart of year $7,236,740$6,937,554
X-27 Net assets without donor restrictionsStart of year −$745,581−$1,091,322
X-28 Net assets with donor restrictionsStart of year $7,580,120$9,759,639
X-32 Total net assets or fund balancesStart of year $6,834,539$8,668,317
X-33 Total liabilities and net assetsStart of year $14,071,279$15,605,871
Part XI · Reconciliation of net assets $8,668,317 net assets at year end
XI-1 Total revenue$3,208,145
XI-2 Total expenses$1,374,365
XI-3 Revenue less expenses$1,833,780
XI-4 Net assets at start of year$6,834,539
XI-8 Prior period adjustments−$2
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$8,668,317

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

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