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Louison Properties INC FY2024 filing

Tax-deductible

Adams, MA501(c)(3)Since 2018Human ServicesEIN 83-2396541

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The corporation is organized for charitable purposes and the corporation shall engage in holding real and personal property to prevent homelessness, promote independent living and to support Louison house, INC., and to engage in such other activities as may appropriate and consistent with the corporation's status as an organization described in section 501(c)(3) of the internal revenue code, or the corresponding section of any future federal tax code.

501(c)(3) charity; gifts are tax-deductible.
50¢ 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 3
filings with a surplus
Average surplus $194K a year · 74% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
50%
of spending
Worth a look: 50% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
30 mo
of spending, in cash
Looks good: 29.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1.1M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.4M
69% of total assets
Worth a look: liabilities are 69% of assets; over 65%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$228K
-58% vs prior year
Spent
$72K
To programs
50%
Net assets
$1.1M
By yearFY2022–FY2024
Revenue
$228K
FY2024▼ -58%
Revenue by fiscal year
FY2022$12K
FY2023$548K
FY2024$228K
FY2024$1.1M
Expenses
$72K
FY2024▲ +3%
Expenses by fiscal year
FY2022$64K
FY2023$69K
FY2024$72K
FY2024$72K
Net assets
$1.1M
FY2024▲ +17%
Net assets by fiscal year
FY2022$451K
FY2023$939K
FY2024$1.1M
FY2024$2.1M

From the FY2024 Form 990 (year ending September 2024) · see the original

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

Is it real?

Yes. Revoked Feb 2022, reinstated. IRS ruling Apr 2023, per the IRS master file. Latest filing on record: FY2024. IRS ruling in Apr 2023.

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

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $36K Management & general 50% · $36K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Mike Cutler
Director
$0Pt VII · Sec A
Betty Hakes
Treasurer
$0Pt VII · Sec A
Paul Marino
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
David Rhoads
Director
$0Pt VII · Sec A
Lynn Rhoads
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Louison 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 15aYes

Programs and updates

Acquires and holds property to prevent homelessness and promote independent living.

Provided by the organization

This section is blank until Louison Properties INC claims this page.

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1 program service account for $36K of program spending, described in the organization's own filed words · FY2023.
01

Support louison house and provide housing.

$36Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Louison House INCFY2024$1.1M
Total grants receivedfrom 1 funder$1.1M

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$228K
Ln 12
Fees for servicesLn 2g$228K
Investment incomeLn 3$709
Money outPt IX
$72K
Ln 25
Programscol B$36K
Managementcol C$36K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$179K
Total assetsLn 16$3.5M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$228K
Investment incomeLn 3$709
Total revenueLn 12$228K
Assets in detailPt X, end of year
CashLn 1$179K
Cash and savings togetherLn 1–2$179K
Land, buildings, equipmentLn 10c$3.3M
Total assetsLn 16$3.5M
LiabilitiesLn 26$2.4M
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderSeptember
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$209K$179K
Land, buildings, equipmentLn 10c$2.8M$3.3M
Total assetsLn 16$3.1M$3.5M
LiabilitiesLn 26$2.1M$2.4M
Net assetsLn 32$939K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Depreciation, depletion and amortizationLn 22$72K$36K$36K
Other expenses (24a–d)Ln 24$30$15$15
Total functional expensesLn 25$72K$36K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $228K$72K$157K$1.1M 990 PDF
FY2023 $548K$69K$479K$939K 990 PDF
FY2022 $12K$64K−$52K$451K 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 (4 parts)
Part VIII · Statement of revenue $228,317 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $227,608$227,608
VIII-3 Investment incomeExcluded from tax $709$709
VIII-12 Total revenueRelated to mission $227,608 · Excluded from tax $709$228,317
Part IX · Statement of functional expenses $71,786 across 2 lines filed
IX-22 Depreciation, depletion and amortizationPrograms $35,878 · Management $35,878$71,756
IX-24 Other expenses (24a–d)Programs $15 · Management $15$30
IX-25 Total functional expensesPrograms $35,893 · Management $35,893 · Fundraising $0$71,786
Part X · Balance sheet $3,519,955 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $208,544$178,839
X-10c Land, buildings and equipment, netStart of year $2,831,644$3,341,116
X-16 Total assetsStart of year $3,082,045$3,519,955
X-17 Accounts payable and accrued expenses$4,058
X-24 Unsecured notes and loans payableStart of year $2,143,340$2,420,661
X-26 Total liabilitiesStart of year $2,143,340$2,424,719
X-27 Net assets without donor restrictionsStart of year $699,281$1,016,357
X-28 Net assets with donor restrictionsStart of year $239,424$78,879
X-32 Total net assets or fund balancesStart of year $938,705$1,095,236
X-33 Total liabilities and net assetsStart of year $3,082,045$3,519,955
Part XI · Reconciliation of net assets $1,095,236 net assets at year end
XI-1 Total revenue$228,317
XI-2 Total expenses$71,786
XI-3 Revenue less expenses$156,531
XI-4 Net assets at start of year$938,705
XI-10 Net assets at end of year$1,095,236

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

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