Infrastructure Financial Services FY2023 filing

Tax-deductible

Dallas, TX501(c)(3)Since 2019Human ServicesEIN 83-3612494Revenue $8.1M in FY2023

On file with the IRS5220 Spring Valley Rd Ste 522, 75254-2464 · Dallas, TXTax-exempt since Aug 2019Publicly supported — 509(a)(2)

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Infrastructure Financial Services was formed to (I) promote community access to and development of communication systems, (II) promote expanded educational opportunities, including but not limited to charter school organizations, (III) work with communities and educational organizations to provide and arrange financing and refinancing for the development, acquisition, construction, improvement and equipping of communication networks and systems; (IV) work with charter school organizations for the development and financing of Infrastructure and improvements; and (v) provide Services related to the development, expansion, financing, and operation of elderly housing in communities seeing the greatest need for affordable, quality accommodations for the elderly, and the provision of related social, transportation, and medical Services for its elderly population.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$30K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
1 of 6
filings with a surplus
Average deficit $4.9M a year · 63% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$30K
to officers and key staff · 0.3% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$30.7M
116% of total assets
Concern: liabilities are 116% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 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
$8.1M
-72% vs prior year
Spent
$11.2M
To programs
91%
Net assets
−$4.2M
By yearFY2020–FY2025
Revenue
$8.1M
FY2023▼ -72%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3M
FY2021$3.0M
FY2022$29.0M
FY2023$8.1M
FY2024$2.4M
FY2025$2.8M
Expenses
$11.2M
FY2023▼ -78%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.9M
FY2021$4.1M
FY2022$51.2M
FY2023$11.2M
FY2024$2.8M
FY2025$2.7M
Net assets
−$4.2M
FY2023▲ +84%
Tap a bar for its year
Net assets by fiscal year
FY2020−$3.6M
FY2021−$4.7M
FY2022−$26.9M
FY2023−$4.2M
FY2024−$4.6M
FY2025−$4.4M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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 Aug 2019.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $10.1M Management & general 9% · $1.0M

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

3 people listed on the 990; $30K paid to officers and key staff.

Part VII, Section A · reportable compensation
Secretary/Treasurer
$30,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Karen Woodliff’s $36K as Secretary/Treasurer is at the 3rd percentile of top reported officer pay among 3869 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Karen Woodliff$36,100$37,500$30,000$33,000$24,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Infrastructure Financial Services 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

Expands educational opportunities, including charter schools, for students.

Provided by the organization

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2 programs · $10.1M · in their own filed words · FY2023
01

Nelp-commons LLC is a single-member LLC under infrastructure financial services whose mission is to facilitate promoting community access to and developing quality senior housing in communities of need for those services.

$7.0Mprogram expense
02

Infrastructure financial services includes chester education, LLC, which was formed to acquire and lease school properties to the chester community charter school. With ifs acquiring and improving the school properties, the charter school has been able to increase enrollment, thereby expanding the number of children and families who…

$3.2Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $13K · 2024–2025
Unitemized GrantFY2025$7,624

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$8.1M
Ln 12
Fees for servicesLn 2g$7.8M
Investment incomeLn 3$289K
Money outPt IX
$11.2M
Ln 25
Programscol B$10.1M
Managementcol C$1.0M
Owns and owesPt X
−$4.2M
net assets · Ln 32
Cash and savingsLn 1–2$4.5M
Total assetsLn 16$26.5M
LiabilitiesLn 26$30.7M
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$7.8M
Investment incomeLn 3$289K
Total revenueLn 12$8.1M
Assets in detailPt X, end of year
CashLn 1$357K
SavingsLn 2$4.2M
Cash and savings togetherLn 1–2$4.5M
Land, buildings, equipmentLn 10c$20.5M
Other assetsLn 15$20K
Total assetsLn 16$26.5M
LiabilitiesLn 26$30.7M
Net assetsLn 32−$4.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
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 FY23End FY23
Cash and savingsLn 1–2$23.6M$4.5M
Land, buildings, equipmentLn 10c$120.3M$20.5M
Total assetsLn 16$190.4M$26.5M
LiabilitiesLn 26$217.3M$30.7M
Net assetsLn 32−$26.9M−$4.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Pay of current officers, directors and key staffLn 5$30K$30K
Management feesLn 11a$2.7M$2.0M$718K
Legal feesLn 11b$41K$41K
Accounting feesLn 11c$25K$25K
Other fees for servicesLn 11g$434K$378K$55K
Advertising and promotionLn 12$36K$36K
Office expensesLn 13$43K$43K
Information technologyLn 14$45K$45K
OccupancyLn 16$548K$548K
TravelLn 17$9K$9K
InterestLn 20$3.7M$3.7M
Depreciation, depletion and amortizationLn 22$2.4M$2.4M
InsuranceLn 23$49K$49K
Other expenses (24a–d)Ln 24$1.1M$1.0M$33K
All other expensesLn 24e$6K$11K−$4K
Total functional expensesLn 25$11.2M$10.1M$1.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.8M$2.7M$165K−$4.4M 990 PDF
FY2024 $2.4M$2.8M−$420K−$4.6M 990 PDF
FY2023 Viewing $8.1M$11.2M−$3.1M−$4.2M 990 PDF
FY2022 $29.0M$51.2M−$22.2M−$26.9M 990 PDF
FY2021 $3.0M$4.1M−$1.1M−$4.7M 990 PDF
FY2020 $1.3M$3.9M−$2.6M−$3.6M 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 FY2023 990 (6 parts)
Part I · Summary $8,062,641 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $28,827,490$7,773,199
I-10 Investment incomePrior year $143,824$289,442
I-11 Other revenuePrior year $34,000$0
I-12 Total revenuePrior year $29,005,314$8,062,641
I-13 Grants and similar amounts paidPrior year $7,500$2,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $33,000$30,000
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $51,168,043$11,124,970
I-18 Total expensesPrior year $51,208,543$11,156,970
I-19 Revenue less expensesPrior year −$22,203,229−$3,094,329
Part VI · Governance 2 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
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 $8,062,641 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,773,199$7,773,199
VIII-3 Investment incomeExcluded from tax $289,442$289,442
VIII-12 Total revenueRelated to mission $7,773,199 · Unrelated business $0 · Excluded from tax $289,442$8,062,641
Part IX · Statement of functional expenses $11,156,970 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $2,000$2,000
IX-5 Pay of current officers, directors and key staffManagement $30,000$30,000
IX-11a Management feesPrograms $1,999,617 · Management $718,337$2,717,954
IX-11b Legal feesManagement $41,302$41,302
IX-11c Accounting feesManagement $25,041$25,041
IX-11g Other fees for servicesPrograms $378,408 · Management $55,320$433,728
IX-12 Advertising and promotionManagement $35,538$35,538
IX-13 Office expensesManagement $42,568$42,568
IX-14 Information technologyManagement $44,741$44,741
IX-16 OccupancyPrograms $547,682$547,682
IX-17 TravelManagement $8,889$8,889
IX-20 InterestPrograms $3,654,280$3,654,280
IX-22 Depreciation, depletion and amortizationPrograms $2,448,661$2,448,661
IX-23 InsurancePrograms $49,339$49,339
IX-24 Other expenses (24a–d)Programs $1,036,040 · Management $32,750$1,068,790
IX-24e All other expensesPrograms $10,545 · Management −$4,088$6,457
IX-25 Total functional expensesPrograms $10,126,572 · Management $1,030,398 · Fundraising $0$11,156,970
Part X · Balance sheet $26,522,426 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $12,336,464$357,100
X-2 Savings and temporary cash investmentsStart of year $11,248,288$4,188,099
X-10c Land, buildings and equipment, netStart of year $120,340,088$20,545,178
X-14 Intangible assetsStart of year $45,491,346$1,412,189
X-15 Other assetsStart of year $19,860$19,860
X-16 Total assetsStart of year $190,415,815$26,522,426
X-17 Accounts payable and accrued expensesStart of year $2,569,354$124
X-20 Tax-exempt bond liabilitiesStart of year $31,375,000$30,710,000
X-25 Other liabilitiesStart of year $92,074,681$0
X-26 Total liabilitiesStart of year $217,319,035$30,710,124
X-27 Net assets without donor restrictionsStart of year −$26,903,220−$4,187,698
X-32 Total net assets or fund balancesStart of year −$26,903,220−$4,187,698
X-33 Total liabilities and net assetsStart of year $190,415,815$26,522,426
Part XI · Reconciliation of net assets −$4,187,698 net assets at year end
XI-1 Total revenue$8,062,641
XI-2 Total expenses$11,156,970
XI-3 Revenue less expenses−$3,094,329
XI-4 Net assets at start of year−$26,903,220
XI-9 Other changes in net assets$25,809,851
XI-10 Net assets at end of year−$4,187,698

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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