Serving Hands Community Development Corporation FY2022 filing

Tax-deductible

Miami, FL501(c)(3)Community DevelopmentEIN 82-4730273Revenue $2.4M in FY2022

On file with the IRS500 Nw 2nd Ave Unit 11335, 33101-0196 · Miami, FLTax-exempt since Jul 2019Publicly supported charity — 170(b)(1)(A)(vi)

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Serving Hands Community mission is to create affordable and attainable housing for those less fortunate in the under severed communities

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

FY2022 · 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 deficit $308K a year · 22% of revenue · last 5 filings
Concern: 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
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$12.1M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
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
$2.4M
+148% vs prior year
Spent
$1.6M
To programs
100%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$2.4M
FY2022▲ +148%
Tap a bar for its year
Revenue by fiscal year
FY2020$995K
FY2021$984K
FY2022$2.4M
FY2023$937K
FY2024$1.5M
Expenses
$1.6M
FY2022▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$902K
FY2021$1.6M
FY2022$1.6M
FY2023$1.9M
FY2024$2.5M
Net assets
$1.2M
FY2022▲ +274%
Tap a bar for its year
Net assets by fiscal year
FY2020$903K
FY2021$309K
FY2022$1.2M
FY2023$372K
FY2024−$576K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 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 Jul 2019.

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% · $1.6M

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

1 person listed on the 990.

Part VII, Section A · reportable compensation
Chairman
$0Pt VII · Sec A
See Serving Hands Community Development 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

Builds affordable housing for underserved communities.

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Provided by the organization

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1 program · $1.6M · in their own filed words · FY2022
01

The organization has provided programs ans services to the local community in the area of housing and community DEVELOPMENT.ALSO it has provided in 2018 supported resources to individuals, families and groups for the purpose of economic development

$1.6Mprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Investment incomeLn 3$1.5M
Other incomeLn 4–11$747K
Gifts and grantsLn 1h$226K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.6M
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$26K
Total assetsLn 16$13.2M
LiabilitiesLn 26$12.1M
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$226K
Investment incomeLn 3$1.5M
Other incomeLn 4–11$747K
Gains on assetsLn 7$1.5M
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$26K
Cash and savings togetherLn 1–2$26K
InvestmentsLn 11–13$187K
Land, buildings, equipmentLn 10c$10.5M
Other assetsLn 15$2.5M
Total assetsLn 16$13.2M
LiabilitiesLn 26$12.1M
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 50
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 FY22End FY22
Cash and savingsLn 1–2$86K$26K
InvestmentsLn 11–13$571K$187K
Land, buildings, equipmentLn 10c$10.5M$10.5M
Total assetsLn 16$14.6M$13.2M
LiabilitiesLn 26$14.3M$12.1M
Net assetsLn 32$309K$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$53K$53K
Legal feesLn 11b$33K$33K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$95K$95K
Advertising and promotionLn 12$13K$13K
Office expensesLn 13$37K$37K
InterestLn 20$393K$393K
Depreciation, depletion and amortizationLn 22$265K$265K
InsuranceLn 23$78K$78K
Other expenses (24a–d)Ln 24$512K$512K
All other expensesLn 24e$112K$112K
Total functional expensesLn 25$1.6M$1.6M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.5M$2.5M−$948K−$576K 990 PDF
FY2023 $937K$1.9M−$938K$372K 990 PDF
FY2022 Viewing $2.4M$1.6M$845K$1.2M 990 PDF
FY2021 $984K$1.6M−$594K$309K 990 PDF
FY2020 $995K$902K$93K$903K 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 FY2022 990 (6 parts)
Part I · Summary $2,440,455 revenue, 12 lines filed
I-8 Contributions and grants$226,000
I-9 Program service revenue$0
I-10 Investment income$1,467,141
I-11 Other revenue$747,314
I-12 Total revenue$2,440,455
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$1,595,361
I-18 Total expenses$1,595,361
I-19 Revenue less expenses$845,094
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $2,440,455 across 5 lines filed
VIII-1f All other contributions, gifts and grants$226,000
VIII-1h Total contributions, gifts and grants$226,000
VIII-6 Net rental income or lossRelated to mission $747,314$747,314
VIII-7 Net gain or loss on sales of assetsUnrelated business $1,467,141$1,467,141
VIII-12 Total revenueRelated to mission $747,314 · Unrelated business $1,467,141 · Excluded from tax $0$2,440,455
Part IX · Statement of functional expenses $1,595,361 across 11 lines filed
IX-11a Management feesPrograms $52,573$52,573
IX-11b Legal feesPrograms $32,682$32,682
IX-11c Accounting feesPrograms $6,475$6,475
IX-11g Other fees for servicesPrograms $94,793$94,793
IX-12 Advertising and promotionPrograms $12,625$12,625
IX-13 Office expensesPrograms $36,890$36,890
IX-20 InterestPrograms $392,767$392,767
IX-22 Depreciation, depletion and amortizationPrograms $264,587$264,587
IX-23 InsurancePrograms $77,904$77,904
IX-24 Other expenses (24a–d)Programs $512,371$512,371
IX-24e All other expensesPrograms $111,694$111,694
IX-25 Total functional expensesPrograms $1,595,361 · Management $0 · Fundraising $0$1,595,361
Part X · Balance sheet $13,226,077 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $86,126$25,742
X-10c Land, buildings and equipment, netStart of year $10,538,294$10,538,294
X-11 Publicly traded securitiesStart of year $571,203$187,368
X-15 Other assetsStart of year $3,451,325$2,474,673
X-16 Total assetsStart of year $14,647,336$13,226,077
X-24 Unsecured notes and loans payableStart of year $5,331,185$5,289,614
X-25 Other liabilitiesStart of year $73,936$90,974
X-26 Total liabilitiesStart of year $14,338,642$12,072,289
X-27 Net assets without donor restrictionsStart of year $308,694$1,153,788
X-32 Total net assets or fund balancesStart of year $308,694$1,153,788
X-33 Total liabilities and net assetsStart of year $14,647,336$13,226,077
Part XI · Reconciliation of net assets $1,153,788 net assets at year end
XI-1 Total revenue$2,440,455
XI-2 Total expenses$1,595,361
XI-3 Revenue less expenses$845,094
XI-4 Net assets at start of year$308,694
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,153,788

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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