Boreal Development: FY2023 Nonprofit Profile & Form 990 (EIN 84-1819301)

Stacie Renne’s $9K as Board Chair is at the 33rd percentile of top reported officer pay among 142 <$100K housing 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.

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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

Builds affordable housing, trains a green workforce, and remedies injustice.

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1 program · $101K · in their own filed words · FY2023

01

Green New Deal Housing takes a community-based approach to providing affordable housing, build a green workforce, and remedy persistent economic and racial injustice. In 2023, the organization completed and sold our zero net energy pilot home to an income qualified family.

$101Kprogram expense

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

Northland FoundationFY2024$25K

Total grants receivedfrom 1 funder$25K

By the numbers

The FY2023 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$160K

Ln 12

Gifts and grantsLn 1h$380K

Fees for servicesLn 2g$7K

Money outPt IX

$156K

Ln 25

Programscol B$101K

Managementcol C$28K

Fundraisingcol D$27K

Owns and owesPt X

$51K

net assets · Ln 32

Cash and savingsLn 1–2$114K

Total assetsLn 16$135K

LiabilitiesLn 26$84K

PeoplePt VI, VII

16

listed · VII A

PaidVII A1

Voting boardVI 1a11

IndependentVI 1b11

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$380K

Government grantsLn 1e$0

Noncash giftsLn 1g$0

Fundraising eventsLn 1c$0

Fees for servicesLn 2g$7K

Gains on assetsLn 7−$227K

Total revenueLn 12$160K

Assets in detailPt X, end of year

CashLn 1$114K

Cash and savings togetherLn 1–2$114K

Land, buildings, equipmentLn 10c$21K

Other assetsLn 15$0

Total assetsLn 16$135K

LiabilitiesLn 26$84K

Net assetsLn 32$51K

OperationsPt I, VI

EmployeesI 50

VolunteersI 63

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$16K	$114K
Land, buildings, equipmentLn 10c		$21K
Total assetsLn 16	$424K	$135K
LiabilitiesLn 26	$396K	$84K
Net assetsLn 32	$27K	$51K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$0	$0	$0	$0
Legal feesLn 11b	$88	$0	$88	$0
Accounting feesLn 11c	$16K	$0	$16K	$0
Lobbying feesLn 11d	$0
Other fees for servicesLn 11g	$71K	$37K	$6K	$27K
Office expensesLn 13	$545	$545	$0	$0
Information technologyLn 14	$3K	$2K	$535	$0
InsuranceLn 23	$5K	$0	$5K	$0
Other expenses (24a–d)Ln 24	$62K	$61K	$468	$0
Total functional expensesLn 25	$156K	$101K	$28K	$27K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$89K			$16K	990 PDF
FY2023 Viewing	$160K	$156K	$4K	$51K	990 PDF
FY2022	$151K			$27K	990 PDF
FY2021	$73K			$18K	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 FY2023 990 (6 parts)

Part I · Summary $160,016 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $147,292$379,613

I-9 Program service revenuePrior year $3,400$7,040

I-10 Investment income−$226,664

I-11 Other revenue$27

I-12 Total revenuePrior year $150,692$160,016

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 expenses$156,389

I-18 Total expensesPrior year $0$156,389

I-19 Revenue less expensesPrior year $150,692$3,627

Part VI · Governance 11 of 11 board members independent, 3 to look at

VI-1a Voting members of the governing body11

VI-1b Independent voting members11

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

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $160,016 across 11 lines filed

Lines not itemized here account for $27 of total revenue; see the IRS return.

VIII-1a Federated campaigns$0

VIII-1b Membership dues$0

VIII-1c Fundraising events$0

VIII-1d Related organizations$0

VIII-1e Government grants$0

VIII-1f All other contributions, gifts and grants$379,613

VIII-1g Noncash contributions (included above)$0

VIII-1h Total contributions, gifts and grants$379,613

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,040 · Unrelated business $0 · Excluded from tax $0$7,040

VIII-7 Net gain or loss on sales of assetsRelated to mission −$226,664 · Unrelated business $0 · Excluded from tax $0−$226,664

VIII-12 Total revenueRelated to mission −$219,597 · Unrelated business $0 · Excluded from tax $0$160,016

Part IX · Statement of functional expenses $156,389 across 9 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $0 · Fundraising $0$0

IX-11b Legal feesPrograms $0 · Management $88 · Fundraising $0$88

IX-11c Accounting feesPrograms $0 · Management $15,516 · Fundraising $0$15,516

IX-11d Lobbying fees$0

IX-11g Other fees for servicesPrograms $37,232 · Management $6,339 · Fundraising $27,384$70,955

IX-13 Office expensesPrograms $545 · Management $0 · Fundraising $0$545

IX-14 Information technologyPrograms $2,139 · Management $535 · Fundraising $0$2,674

IX-23 InsurancePrograms $0 · Management $4,652 · Fundraising $0$4,652

IX-24 Other expenses (24a–d)Programs $61,491 · Management $468 · Fundraising $0$61,959

IX-25 Total functional expensesPrograms $101,407 · Management $27,598 · Fundraising $27,384$156,389

Part X · Balance sheet $134,721 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $16,009$113,581

X-4 Accounts receivable$90

X-10c Land, buildings and equipment, net$21,050

X-15 Other assetsStart of year $377,071$0

X-16 Total assetsStart of year $423,565$134,721

X-17 Accounts payable and accrued expensesStart of year $37,632$8,587

X-24 Unsecured notes and loans payableStart of year $358,517$75,000

X-26 Total liabilitiesStart of year $396,160$83,587

X-27 Net assets without donor restrictionsStart of year $27,405$51,134

X-28 Net assets with donor restrictionsStart of year $0$0

X-32 Total net assets or fund balancesStart of year $27,405$51,134

X-33 Total liabilities and net assetsStart of year $423,565$134,721

Part XI · Reconciliation of net assets $51,134 net assets at year end

XI-1 Total revenue$160,016

XI-2 Total expenses$156,389

XI-3 Revenue less expenses$3,627

XI-4 Net assets at start of year$27,405

XI-5 Net unrealized gains (losses) on investments$0

XI-6 Donated services and use of facilities$20,100

XI-7 Investment expenses$0

XI-8 Prior period adjustments$0

XI-9 Other changes in net assets$2

XI-10 Net assets at end of year$51,134

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

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Boreal Development FY2023 filing

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