Barrett Foundation INC: FY2020 Nonprofit Profile & Form 990 (EIN 85-0336208)

Cory Lee’s $94K as CEO is at the 28th percentile of top reported officer pay among 2036 $1–10M 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.

Compensation history total reportable pay by year · 5 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Heather Hoffman	—	—	—	$95,176	$93,000	—
Cory Lee	$93,515	$52,096	$52,096	—	—	—
Connie Chavez	—	—	—	—	—	$85,700
Kimberly Romero	—	—	—	$45,037	—	—
Cletus Stoflet	—	—	—	$16,178	—	—

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.

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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 shelter, housing, and support to end homelessness for women and children.

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3 programs · $1.1M · in their own filed words · FY2019

01

Barrett House Shelter for Women and Children

In may 1985, barrett foundation opened barrett house, a shelter for homeless women and children in albuquerque, NM. Barrett house services an average of 35 women and children every night, providing three meals a day, 365 days a year.

$774Kprogram expense

02

Bridges rapid rehousing program helps individuals and families secure stable housing and provide rental assistance for up to 24 months based on need. Program participants receive individualized case management to assist with overcoming barriers, strengthening life skills, increasing income, applying for entitlements, connecting to…

$160Kprogram expense

03

Milagro permanent supportive housing program provides leasing assistance for individuals and families who are chronically homeless and have a documented disability. In addition to leasing assitance, program participants receive individualized case management to assist with overcoming barriers, strengthening life skills, accessing…

$137Kprogram 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

The Chicago Community TrustFY2024$1.2M

Albuquerque Community FoundationFY2024$36K

Charities Aid Foundation AmericaFY2024$12K

Fidelity Investments Charitable Gift FundFY2024$10K

American Online Giving Foundation INCFY2024$8K

Donor Advised Charitable Giving INCFY2024$5K

Total grants receivedfrom 6 funders$1.3M

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By the numbers

The FY2020 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$1.9M

Ln 12

Gifts and grantsLn 1h$1.6M

Fees for servicesLn 2g$210K

Other incomeLn 4–11$31K

Money outPt IX

$1.6M

Ln 25

Programscol B$1.3M

Managementcol C$142K

Fundraisingcol D$162K

Owns and owesPt X

$2.5M

net assets · Ln 32

Cash and savingsLn 1–2$511K

Total assetsLn 16$6.0M

LiabilitiesLn 26$3.5M

PeoplePt VI, VII

11

listed · VII A

PaidVII A1

Voting boardVI 1a10

IndependentVI 1b10

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.6M

Government grantsLn 1e$615K

Noncash giftsLn 1g$63K

Fees for servicesLn 2g$210K

Investment incomeLn 3$5K

Other incomeLn 4–11$31K

Gains on assetsLn 7−$895

Total revenueLn 12$1.9M

Assets in detailPt X, end of year

CashLn 1$511K

Cash and savings togetherLn 1–2$511K

InvestmentsLn 11–13$463K

Land, buildings, equipmentLn 10c$4.6M

Total assetsLn 16$6.0M

LiabilitiesLn 26$3.5M

Net assetsLn 32$2.5M

OperationsPt I, VI

EmployeesI 539

VolunteersI 6307

Fiscal year endsHeaderJune

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$233K	$511K
InvestmentsLn 11–13	$322K	$463K
Land, buildings, equipmentLn 10c	$1.4M	$4.6M
Total assetsLn 16	$2.2M	$6.0M
LiabilitiesLn 26	$35K	$3.5M
Net assetsLn 32	$2.2M	$2.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$86K		$86K
Other salaries and wagesLn 7	$694K	$572K	$6K	$116K
Other employee benefitsLn 9	$66K	$51K	$785	$14K
Payroll taxesLn 10	$61K	$45K	$7K	$9K
Legal feesLn 11b	$6K		$6K
Accounting feesLn 11c	$17K		$17K
Other fees for servicesLn 11g	$31K	$25K		$7K
Office expensesLn 13	$14K	$9K	$1K	$3K
OccupancyLn 16	$40K	$38K	$145	$2K
Conferences, conventions and meetingsLn 19	$3K	$643	$2K	$599
InterestLn 20	$4K	$16	$2K	$3K
Depreciation, depletion and amortizationLn 22	$72K	$63K	$6K	$3K
InsuranceLn 23	$38K	$32K	$3K	$2K
Other expenses (24a–d)Ln 24	$498K	$491K	$4K	$2K
All other expensesLn 24e	$3K	$741	$2K	$690
Total functional expensesLn 25	$1.6M	$1.3M	$142K	$162K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$5.9M	$4.7M	$1.2M	$2.4M	990 PDF
FY2024	$3.4M	$3.7M	−$295K	$1.2M	990 PDF
FY2023	$3.3M	$3.9M	−$575K	$1.5M	990 PDF
FY2022	$2.0M	$2.6M	−$553K	$2.0M	990 PDF
FY2021	$2.2M	$2.1M	$98K	$2.6M	990 PDF
FY2020 Viewing	$1.9M	$1.6M	$263K	$2.5M	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 M · Noncash O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $1,895,212 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,379,444$1,649,402

I-9 Program service revenuePrior year $276,946$209,820

I-10 Investment incomePrior year $21,112$4,577

I-11 Other revenuePrior year $264$31,413

I-12 Total revenuePrior year $1,677,766$1,895,212

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $821,218$906,358

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $700,277$725,789

I-18 Total expensesPrior year $1,521,495$1,632,147

I-19 Revenue less expensesPrior year $156,271$263,065

Part VI · Governance 10 of 10 board members independent, 1 to look at

VI-1a Voting members of the governing body10

VI-1b Independent voting members10

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 $1,895,212 across 11 lines filed

VIII-1e Government grants$614,907

VIII-1f All other contributions, gifts and grants$1,034,495

VIII-1g Noncash contributions (included above)$62,548

VIII-1h Total contributions, gifts and grants$1,649,402

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $209,820$209,820

VIII-3 Investment incomeExcluded from tax $5,472$5,472

VIII-6 Net rental income or lossExcluded from tax $195$195

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$895−$895

VIII-8 Net income from fundraising eventsExcluded from tax $7,218$7,218

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $24,000$24,000

VIII-12 Total revenueRelated to mission $209,820 · Unrelated business $0 · Excluded from tax $35,990$1,895,212

Part IX · Statement of functional expenses $1,632,147 across 15 lines filed

IX-5 Pay of current officers, directors and key staffManagement $85,700$85,700

IX-7 Other salaries and wagesPrograms $572,028 · Management $6,211 · Fundraising $115,537$693,776

IX-9 Other employee benefitsPrograms $50,888 · Management $785 · Fundraising $14,477$66,150

IX-10 Payroll taxesPrograms $44,716 · Management $7,289 · Fundraising $8,727$60,732

IX-11b Legal feesManagement $5,842$5,842

IX-11c Accounting feesManagement $16,694$16,694

IX-11g Other fees for servicesPrograms $24,631 · Fundraising $6,609$31,240

IX-13 Office expensesPrograms $9,398 · Management $1,172 · Fundraising $3,147$13,717

IX-16 OccupancyPrograms $37,898 · Management $145 · Fundraising $2,138$40,181

IX-19 Conferences, conventions and meetingsPrograms $643 · Management $1,529 · Fundraising $599$2,771

IX-20 InterestPrograms $16 · Management $1,691 · Fundraising $2,574$4,281

IX-22 Depreciation, depletion and amortizationPrograms $63,059 · Management $6,162 · Fundraising $2,814$72,035

IX-23 InsurancePrograms $32,229 · Management $2,979 · Fundraising $2,399$37,607

IX-24 Other expenses (24a–d)Programs $491,479 · Management $4,297 · Fundraising $2,454$498,230

IX-24e All other expensesPrograms $741 · Management $1,760 · Fundraising $690$3,191

IX-25 Total functional expensesPrograms $1,327,726 · Management $142,256 · Fundraising $162,165$1,632,147

Part X · Balance sheet $5,964,636 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $232,927$511,387

X-3 Pledges and grants receivableStart of year $166,119$236,106

X-4 Accounts receivableStart of year $88,687$99,917

X-9 Prepaid expenses and deferred chargesStart of year $5,921$14,601

X-10c Land, buildings and equipment, netStart of year $1,422,609$4,639,909

X-11 Publicly traded securitiesStart of year $321,679$462,716

X-16 Total assetsStart of year $2,237,942$5,964,636

X-17 Accounts payable and accrued expensesStart of year $35,349$63,618

X-25 Other liabilitiesStart of year $0$161,400

X-26 Total liabilitiesStart of year $35,349$3,487,518

X-27 Net assets without donor restrictionsStart of year $1,680,024$1,908,230

X-28 Net assets with donor restrictionsStart of year $522,569$568,888

X-32 Total net assets or fund balancesStart of year $2,202,593$2,477,118

X-33 Total liabilities and net assetsStart of year $2,237,942$5,964,636

Part XI · Reconciliation of net assets $2,477,118 net assets at year end

XI-1 Total revenue$1,895,212

XI-2 Total expenses$1,632,147

XI-3 Revenue less expenses$263,065

XI-4 Net assets at start of year$2,202,593

XI-5 Net unrealized gains (losses) on investments$11,460

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$2,477,118

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Barrett Foundation INC FY2020 filing

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