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Gifford Workforce FY2021 filing

Not tax-deductible

Falmouth, MAMutual-benefit / member-servingCommunity Development EIN 83-2984719Revenue $168K in FY2021

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

88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2021 · 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
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.8M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
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
$168K
+508% vs prior year
Spent
$153K
To programs
88%
Net assets
$260K
By yearFY2020–FY2025
Revenue
$168K
FY2021▲ +508%
Tap a bar for its year
Revenue by fiscal year
FY2020$28K
FY2021$168K
FY2022$162K
FY2023$164K
FY2024$176K
FY2025$175K
Expenses
$153K
FY2021▲ +376%
Tap a bar for its year
Expenses by fiscal year
FY2020$32K
FY2021$153K
FY2022$174K
FY2023$192K
FY2024$212K
FY2025$230K
Net assets
$260K
FY2021▲ +6%
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 FY2021 Form 990 · see the original

990 PDF Claim
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 Nov 2020.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $135K Management & general 12% · $18K

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
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
$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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1 program · in their own filed words · FY2021
01

Affordable housing

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$168K
Ln 12
Fees for servicesLn 2g$142K
Other incomeLn 4–11$27K
Investment incomeLn 3$8
Money outPt IX
$153K
Ln 25
Programscol B$135K
Managementcol C$18K
Owns and owesPt X
$260K
net assets · Ln 32
Cash and savingsLn 1–2$86K
Total assetsLn 16$3.1M
LiabilitiesLn 26$2.8M
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$142K
Investment incomeLn 3$8
Other incomeLn 4–11$27K
Total revenueLn 12$168K
Assets in detailPt X, end of year
CashLn 1$86K
Cash and savings togetherLn 1–2$86K
Land, buildings, equipmentLn 10c$2.9M
Other assetsLn 15$60K
Total assetsLn 16$3.1M
LiabilitiesLn 26$2.8M
Net assetsLn 32$260K
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 FY21End FY21
Cash and savingsLn 1–2$192K$86K
Land, buildings, equipmentLn 10c$3.0M$2.9M
Total assetsLn 16$3.2M$3.1M
LiabilitiesLn 26$2.9M$2.8M
Net assetsLn 32$245K$260K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$17K$17K
OccupancyLn 16$12K$12K
InterestLn 20$17K$17K
Depreciation, depletion and amortizationLn 22$77K$77K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$20K$20K$631
Total functional expensesLn 25$153K$135K$18K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $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 FY2021 990 (6 parts)
Part I · Summary $168,196 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $26,337$141,602
I-10 Investment income$8
I-11 Other revenuePrior year $1,326$26,586
I-12 Total revenuePrior year $27,663$168,196
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 $32,203$153,164
I-18 Total expensesPrior year $32,203$153,164
I-19 Revenue less expensesPrior year −$4,540$15,032
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $168,196 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $141,602$141,602
VIII-3 Investment incomeExcluded from tax $8$8
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $26,586$26,586
VIII-12 Total revenueRelated to mission $168,188 · Excluded from tax $8$168,196
Part IX · Statement of functional expenses $153,164 across 6 lines filed
IX-11c Accounting feesManagement $17,075$17,075
IX-16 OccupancyPrograms $11,830$11,830
IX-20 InterestPrograms $17,259$17,259
IX-22 Depreciation, depletion and amortizationPrograms $77,446$77,446
IX-23 InsurancePrograms $9,114$9,114
IX-24 Other expenses (24a–d)Programs $19,809 · Management $631$20,440
IX-25 Total functional expensesPrograms $135,458 · Management $17,706 · Fundraising $0$153,164
Part X · Balance sheet $3,070,271 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $191,797$86,400
X-4 Accounts receivableStart of year $1,993$251
X-10c Land, buildings and equipment, netStart of year $3,001,057$2,923,611
X-15 Other assets$60,009
X-16 Total assetsStart of year $3,194,847$3,070,271
X-17 Accounts payable and accrued expensesStart of year $53,230$6,499
X-25 Other liabilitiesStart of year $545,420$13,728
X-26 Total liabilitiesStart of year $2,949,387$2,809,779
X-27 Net assets without donor restrictionsStart of year $245,460$260,492
X-32 Total net assets or fund balancesStart of year $245,460$260,492
X-33 Total liabilities and net assetsStart of year $3,194,847$3,070,271
Part XI · Reconciliation of net assets $260,492 net assets at year end
XI-1 Total revenue$168,196
XI-2 Total expenses$153,164
XI-3 Revenue less expenses$15,032
XI-4 Net assets at start of year$245,460
XI-10 Net assets at end of year$260,492

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

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