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Ec Springfield Realty INC FY2021 filing

Tax-deductible

Springfield, MA501(c)(3)Since 2017EducationEIN 82-3140429Revenue $176K in FY2021

On file with the IRSeducarespringfield.org100 Hickory St, 01109-3715 · Springfield, MATax-exempt since Mar 2018Publicly supported charity — 170(b)(1)(A)(vi)

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Developing real estate for the benefit of charitable and educational purposes.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2021 · 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
0 of 6
filings with a surplus
Average deficit $288K a year · 162% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11.8M
89% of total assets
Concern: liabilities are 89% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$176K
+6% vs prior year
Spent
$474K
To programs
0%
Net assets
$1.4M
By yearFY2020–FY2025
Revenue
$176K
FY2021▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$166K
FY2021$176K
FY2022$177K
FY2023$182K
FY2024$183K
FY2025$181K
Expenses
$474K
FY2021▲ +16%
Tap a bar for its year
Expenses by fiscal year
FY2020$410K
FY2021$474K
FY2022$478K
FY2023$476K
FY2024$476K
FY2025$480K
Net assets
$1.4M
FY2021▼ -18%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.7M
FY2021$1.4M
FY2022$1.1M
FY2023$773K
FY2024$460K
FY2025$11.8M

From the FY2021 Form 990 (year ending October 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2018.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $474K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Bill Steinberg
President, Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
John Mailhot
Director
$0Pt VII · Sec A
See Ec Springfield Realty 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

Builds properties to support charities and schools.

Questions for Ec Springfield Realty INC

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Developing real estate for the benefit of charitable and educational purposes.

Pt IX · col B

Funders

Who pays for it.

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

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$176K
Ln 12
Other incomeLn 4–11$176K
Investment incomeLn 3$418
Money outPt IX
$474K
Ln 25
Managementcol C$474K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$391K
Total assetsLn 16$13.2M
LiabilitiesLn 26$11.8M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$418
Other incomeLn 4–11$176K
Total revenueLn 12$176K
Assets in detailPt X, end of year
CashLn 1$391K
Cash and savings togetherLn 1–2$391K
Land, buildings, equipmentLn 10c$11.7M
Other assetsLn 15$1.1M
Total assetsLn 16$13.2M
LiabilitiesLn 26$11.8M
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$203K$391K
Land, buildings, equipmentLn 10c$12.0M$11.7M
Total assetsLn 16$13.4M$13.2M
LiabilitiesLn 26$11.7M$11.8M
Net assetsLn 32$1.7M$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$5K$5K
InterestLn 20$160K$160K
Depreciation, depletion and amortizationLn 22$308K$308K
InsuranceLn 23$852$852
Other expenses (24a–d)Ln 24$150$150
Total functional expensesLn 25$474K$0$474K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $181K$480K−$299K$11.8M 990 PDF
FY2024 $183K$476K−$293K$460K 990 PDF
FY2023 $182K$476K−$294K$773K 990 PDF
FY2022 $177K$478K−$301K$1.1M 990 PDF
FY2021 Viewing $176K$474K−$298K$1.4M 990 PDF
FY2020 $166K$410K−$244K$1.7M 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 FY2021 990 (6 parts)
Part I · Summary $176,418 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $3,597$418
I-11 Other revenuePrior year $162,490$176,000
I-12 Total revenuePrior year $166,087$176,418
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 $410,195$474,165
I-18 Total expensesPrior year $410,195$474,165
I-19 Revenue less expensesPrior year −$244,108−$297,747
Part VI · Governance 3 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $176,418 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $418$418
VIII-6 Net rental income or lossRelated to mission $176,000$176,000
VIII-12 Total revenueRelated to mission $176,000 · Unrelated business $0 · Excluded from tax $418$176,418
Part IX · Statement of functional expenses $474,165 across 5 lines filed
IX-11c Accounting feesManagement $5,120$5,120
IX-20 InterestManagement $160,084$160,084
IX-22 Depreciation, depletion and amortizationManagement $307,959$307,959
IX-23 InsuranceManagement $852$852
IX-24 Other expenses (24a–d)Management $150$150
IX-25 Total functional expensesPrograms $0 · Management $474,165 · Fundraising $0$474,165
Part X · Balance sheet $13,246,177 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $202,829$390,861
X-9 Prepaid expenses and deferred chargesStart of year $608$608
X-10c Land, buildings and equipment, netStart of year $12,034,306$11,728,708
X-15 Other assetsStart of year $1,146,000$1,126,000
X-16 Total assetsStart of year $13,383,743$13,246,177
X-17 Accounts payable and accrued expensesStart of year $13,053$13,559
X-19 Deferred revenue$176,000
X-26 Total liabilitiesStart of year $11,658,525$11,838,706
X-27 Net assets without donor restrictionsStart of year $579,218$281,471
X-28 Net assets with donor restrictionsStart of year $1,146,000$1,126,000
X-32 Total net assets or fund balancesStart of year $1,725,218$1,407,471
X-33 Total liabilities and net assetsStart of year $13,383,743$13,246,177
Part XI · Reconciliation of net assets $1,407,471 net assets at year end
XI-1 Total revenue$176,418
XI-2 Total expenses$474,165
XI-3 Revenue less expenses−$297,747
XI-4 Net assets at start of year$1,725,218
XI-9 Other changes in net assets−$20,000
XI-10 Net assets at end of year$1,407,471

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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