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Gifford Workforce

Not tax-deductible

Falmouth, MAMutual-benefit / member-servingCommunity Development EIN 83-2984719Revenue $175K in FY2025

On file with the IRSFalmouth Housing Corp 704 Main St, 02540-0000 · Falmouth, MATax-exempt since Nov 2020

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Own and manage affordable housing

71¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
1 of 6
filings with a surplus
Average deficit $20K a year · 14% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 10.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.8M
96% of total assets
Concern: liabilities are 96% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$175K
-0.2% vs prior year
Spent
$230K
To programs
71%
Net assets
$130K
By yearFY2020–FY2025
Revenue
$175K
FY2025-0.2%
Tap a bar for its year
Revenue by fiscal year
FY2020$28K
FY2021$168K
FY2022$162K
FY2023$164K
FY2024$176K
FY2025$175K
Expenses
$230K
FY2025▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$32K
FY2021$153K
FY2022$174K
FY2023$192K
FY2024$212K
FY2025$230K
Net assets
$130K
FY2025▼ -29%
Tap a bar for its year
Net assets by fiscal year
FY2020$245K
FY2021$260K
FY2022$248K
FY2023$221K
FY2024$184K
FY2025$130K

From the FY2025 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2020.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $163K Management & general 29% · $67K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Linda Clark
President &
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Gifford Workforce 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

Provides and manages affordable housing for those in need.

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Provided by the organization

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1 program · in their own filed words · FY2025
01

Provided affordable housing

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$175K
Ln 12
Fees for servicesLn 2g$167K
Other incomeLn 4–11$8K
Investment incomeLn 3$619
Money outPt IX
$230K
Ln 25
Programscol B$163K
Managementcol C$67K
Owns and owesPt X
$130K
net assets · Ln 32
Cash and savingsLn 1–2$202K
Total assetsLn 16$2.9M
LiabilitiesLn 26$2.8M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$167K
Investment incomeLn 3$619
Other incomeLn 4–11$8K
Total revenueLn 12$175K
Assets in detailPt X, end of year
CashLn 1$93K
SavingsLn 2$109K
Cash and savings togetherLn 1–2$202K
Land, buildings, equipmentLn 10c$2.6M
Other assetsLn 15$76K
Total assetsLn 16$2.9M
LiabilitiesLn 26$2.8M
Net assetsLn 32$130K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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 FY25End FY25
Cash and savingsLn 1–2$194K$202K
Land, buildings, equipmentLn 10c$2.7M$2.6M
Total assetsLn 16$3.0M$2.9M
LiabilitiesLn 26$2.8M$2.8M
Net assetsLn 32$184K$130K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$43K$43K
Legal feesLn 11b$75$75
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$755$755
OccupancyLn 16$10K$10K
InterestLn 20$21K$21K
Depreciation, depletion and amortizationLn 22$77K$77K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$46K$37K$9K
All other expensesLn 24e$6K$3K$4K
Total functional expensesLn 25$230K$163K$67K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $175K$230K−$54K$130K 990 PDF
FY2024 $176K$212K−$36K$184K 990 PDF
FY2023 $164K$192K−$28K$221K 990 PDF
FY2022 $162K$174K−$12K$248K 990 PDF
FY2021 $168K$153K$15K$260K 990 PDF
FY2020 $28K$32K−$5K$245K 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 FY2025 990 (6 parts)
Part I · Summary $175,332 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $166,044$166,862
I-10 Investment incomePrior year $771$619
I-11 Other revenuePrior year $8,907$7,851
I-12 Total revenuePrior year $175,722$175,332
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 expensesPrior year $212,164$229,649
I-18 Total expensesPrior year $212,164$229,649
I-19 Revenue less expensesPrior year −$36,442−$54,317
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $175,332 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $166,862$166,862
VIII-3 Investment incomeExcluded from tax $619$619
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,851$7,851
VIII-12 Total revenueRelated to mission $174,713 · Excluded from tax $619$175,332
Part IX · Statement of functional expenses $229,649 across 10 lines filed
IX-11a Management feesManagement $43,161$43,161
IX-11b Legal feesManagement $75$75
IX-11c Accounting feesManagement $10,050$10,050
IX-11g Other fees for servicesManagement $755$755
IX-16 OccupancyPrograms $10,372$10,372
IX-20 InterestPrograms $21,472$21,472
IX-22 Depreciation, depletion and amortizationPrograms $77,447$77,447
IX-23 InsurancePrograms $14,400$14,400
IX-24 Other expenses (24a–d)Programs $36,562 · Management $9,014$45,576
IX-24e All other expensesPrograms $2,820 · Management $3,521$6,341
IX-25 Total functional expensesPrograms $163,073 · Management $66,576 · Fundraising $0$229,649
Part X · Balance sheet $2,891,582 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $90,026$93,162
X-2 Savings and temporary cash investmentsStart of year $104,447$108,534
X-4 Accounts receivable$325
X-10c Land, buildings and equipment, netStart of year $2,691,271$2,613,824
X-15 Other assetsStart of year $69,116$75,737
X-16 Total assetsStart of year $2,954,860$2,891,582
X-17 Accounts payable and accrued expensesStart of year $8,500$9,498
X-26 Total liabilitiesStart of year $2,770,692$2,761,731
X-27 Net assets without donor restrictionsStart of year $184,168$129,851
X-32 Total net assets or fund balancesStart of year $184,168$129,851
X-33 Total liabilities and net assetsStart of year $2,954,860$2,891,582
Part XI · Reconciliation of net assets $129,851 net assets at year end
XI-1 Total revenue$175,332
XI-2 Total expenses$229,649
XI-3 Revenue less expenses−$54,317
XI-4 Net assets at start of year$184,168
XI-10 Net assets at end of year$129,851

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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