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Walter Riley Davis Senior Complex Corporation

Tax-deductible

Milwaukee, WI501(c)(3)HousingEIN 84-1623402Revenue $63K in FY2024

On file with the IRS7400 West Brown Deer Road, 53223-2078 · Milwaukee, WITax-exempt since Feb 2004Supporting organization — 509(a)(3)

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To provide safe and affordable housing for elderly individuals.

501(c)(3) charity; gifts are tax-deductible.
79¢ 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
0 of 5
filings with a surplus
Average deficit $27K a year · 46% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$874K
250% of total assets
Concern: liabilities are 250% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$63K
+9% vs prior year
Spent
$95K
To programs
79%
Net assets
−$525K
By yearFY2020–FY2024
Revenue
$63K
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$52K
FY2021$60K
FY2022$61K
FY2023$58K
FY2024$63K
Expenses
$95K
FY2024▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$80K
FY2021$82K
FY2022$77K
FY2023$96K
FY2024$95K
Net assets
−$525K
FY2024▼ -6%
Tap a bar for its year
Net assets by fiscal year
FY2020−$418K
FY2021−$439K
FY2022−$455K
FY2023−$493K
FY2024−$525K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2004.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $75K Management & general 21% · $20K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Rugenia Davis
President
$0Pt VII · Sec A
Mary Ann Hall
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Walter Riley Davis Senior Complex 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

Provides safe, affordable housing for elderly individuals.

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Provided by the organization

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1 program · $75K · in their own filed words · FY2024
01

Walter riley davis senior complex corp. Constructed and operates an 8 unit rental housing project for elderly tenants.

$75Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$63K
Ln 12
Fees for servicesLn 2g$63K
Other incomeLn 4–11$41
Investment incomeLn 3$9
Money outPt IX
$95K
Ln 25
Programscol B$75K
Managementcol C$20K
Owns and owesPt X
−$525K
net assets · Ln 32
Cash and savingsLn 1–2$7K
Total assetsLn 16$349K
LiabilitiesLn 26$874K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$63K
Investment incomeLn 3$9
Other incomeLn 4–11$41
Total revenueLn 12$63K
Assets in detailPt X, end of year
CashLn 1$7K
Cash and savings togetherLn 1–2$7K
Land, buildings, equipmentLn 10c$288K
Other assetsLn 15$47K
Total assetsLn 16$349K
LiabilitiesLn 26$874K
Net assetsLn 32−$525K
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 FY24End FY24
Cash and savingsLn 1–2$2K$7K
Land, buildings, equipmentLn 10c$318K$288K
Total assetsLn 16$380K$349K
LiabilitiesLn 26$873K$874K
Net assetsLn 32−$493K−$525K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$5K$5K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$3K$75$3K
Office expensesLn 13$3K$3K
Depreciation, depletion and amortizationLn 22$31K$31K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$30K$30K
All other expensesLn 24e$8K$6K$3K
Total functional expensesLn 25$95K$75K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $63K$95K−$31K−$525K 990 PDF
FY2023 $58K$96K−$38K−$493K 990 PDF
FY2022 $61K$77K−$16K−$455K 990 PDF
FY2021 $60K$82K−$21K−$439K 990 PDF
FY2020 $52K$80K−$28K−$418K 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 (6 parts)
Part I · Summary $63,386 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $58,340$63,336
I-10 Investment incomePrior year $10$9
I-11 Other revenue$41
I-12 Total revenuePrior year $58,350$63,386
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 $96,214$94,673
I-18 Total expensesPrior year $96,214$94,673
I-19 Revenue less expensesPrior year −$37,864−$31,287
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $63,386 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $63,336$63,336
VIII-3 Investment incomeExcluded from tax $9$9
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $41$41
VIII-12 Total revenueRelated to mission $63,377 · Excluded from tax $9$63,386
Part IX · Statement of functional expenses $94,673 across 8 lines filed
IX-11a Management feesManagement $4,704$4,704
IX-11c Accounting feesManagement $6,675$6,675
IX-11g Other fees for servicesPrograms $75 · Management $2,680$2,755
IX-13 Office expensesManagement $3,379$3,379
IX-22 Depreciation, depletion and amortizationPrograms $30,881$30,881
IX-23 InsurancePrograms $8,483$8,483
IX-24 Other expenses (24a–d)Programs $29,556$29,556
IX-24e All other expensesPrograms $5,546 · Management $2,694$8,240
IX-25 Total functional expensesPrograms $74,541 · Management $20,132 · Fundraising $0$94,673
Part X · Balance sheet $348,978 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,402$6,973
X-4 Accounts receivableStart of year $2,380$1,669
X-9 Prepaid expenses and deferred chargesStart of year $3,217$701
X-10c Land, buildings and equipment, netStart of year $318,312$287,972
X-14 Intangible assetsStart of year $5,235$4,694
X-15 Other assetsStart of year $48,017$46,969
X-16 Total assetsStart of year $379,563$348,978
X-17 Accounts payable and accrued expensesStart of year $7,492$7,750
X-19 Deferred revenueStart of year $118$562
X-25 Other liabilitiesStart of year $2,253$2,253
X-26 Total liabilitiesStart of year $872,863$873,565
X-27 Net assets without donor restrictionsStart of year −$493,300−$524,587
X-32 Total net assets or fund balancesStart of year −$493,300−$524,587
X-33 Total liabilities and net assetsStart of year $379,563$348,978
Part XI · Reconciliation of net assets −$524,587 net assets at year end
XI-1 Total revenue$63,386
XI-2 Total expenses$94,673
XI-3 Revenue less expenses−$31,287
XI-4 Net assets at start of year−$493,300
XI-10 Net assets at end of year−$524,587

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

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