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Mihalic's Project FY2024 filing

Tax-deductible

Phoenix, AZ501(c)(3)Since 1994HousingEIN 86-0667653Revenue $245K in FY2024

On file with the IRS3450 N 3rd St, 85012-2331 · Phoenix, AZTax-exempt since Jan 1991Publicly supported charity — 170(b)(1)(A)(vi)

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Provides residential housing for low-income and disabled individuals in the phoeniix area.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
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
3 of 6
filings with a surplus
Average surplus $10K a year · 8% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$120K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$245K
+133% vs prior year
Spent
$137K
To programs
72%
Net assets
$454K
By yearFY2020–FY2025
Revenue
$245K
FY2024▲ +133%
Tap a bar for its year
Revenue by fiscal year
FY2020$106K
FY2021$102K
FY2022$106K
FY2023$105K
FY2024$245K
FY2025$106K
Expenses
$137K
FY2024▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$89K
FY2021$89K
FY2022$154K
FY2023$115K
FY2024$137K
FY2025$124K
Net assets
$454K
FY2024▲ +31%
Tap a bar for its year
Net assets by fiscal year
FY2020$391K
FY2021$404K
FY2022$355K
FY2023$345K
FY2024$454K
FY2025$435K

From the FY2024 Form 990 (year ending September 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 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 Jan 1991.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $99K Management & general 28% · $38K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Steven Sheets
President/CEO
$0Pt VII · Sec A
Mike Fett
Treasurer/CFO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Karen Evers
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Mihalic's Project 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers homes for adults with mental health challenges in Phoenix.

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Provided by the organization

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1 program · $99K · in their own filed words · FY2023
01

The organization operates an apartment project located in phoenix, arizona for low-income and disabled individuals. The project is comprised of twelve apartment units.

$99Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$245K
Ln 12
Gifts and grantsLn 1h$204K
Fees for servicesLn 2g$40K
Investment incomeLn 3$954
Money outPt IX
$137K
Ln 25
Programscol B$99K
Managementcol C$38K
Owns and owesPt X
$454K
net assets · Ln 32
Cash and savingsLn 1–2$123K
Total assetsLn 16$573K
LiabilitiesLn 26$120K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$204K
Government grantsLn 1e$72K
Noncash giftsLn 1g$133K
Fees for servicesLn 2g$40K
Investment incomeLn 3$954
Total revenueLn 12$245K
Assets in detailPt X, end of year
CashLn 1$33K
SavingsLn 2$90K
Cash and savings togetherLn 1–2$123K
Land, buildings, equipmentLn 10c$449K
Other assetsLn 15$0
Total assetsLn 16$573K
LiabilitiesLn 26$120K
Net assetsLn 32$454K
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderSeptember
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
LineStart FY24End FY24
Cash and savingsLn 1–2$149K$123K
Land, buildings, equipmentLn 10c$479K$449K
Total assetsLn 16$631K$573K
LiabilitiesLn 26$286K$120K
Net assetsLn 32$345K$454K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$15K$12K$3K
Other employee benefitsLn 9$2K$1K$428
Payroll taxesLn 10$1K$942$291
Management feesLn 11a$6K$6K
Accounting feesLn 11c$16K$2K$14K
Advertising and promotionLn 12$173$173
Office expensesLn 13$3K$3K
OccupancyLn 16$21K$21K
Depreciation, depletion and amortizationLn 22$35K$35K
InsuranceLn 23$11K$10K$1K
Other expenses (24a–d)Ln 24$27K$17K$10K
Total functional expensesLn 25$137K$99K$38K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $106K$124K−$19K$435K 990 PDF
FY2024 Viewing $245K$137K$109K$454K 990 PDF
FY2023 $105K$115K−$10K$345K 990 PDF
FY2022 $106K$154K−$49K$355K 990 PDF
FY2021 $102K$89K$13K$404K 990 PDF
FY2020 $106K$89K$17K$391K 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 $245,308 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $64,707$204,243
I-9 Program service revenuePrior year $32,252$40,111
I-10 Investment incomePrior year $103$954
I-11 Other revenuePrior year $8,056$0
I-12 Total revenuePrior year $105,118$245,308
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 $18,934$18,291
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $95,725$118,407
I-18 Total expensesPrior year $114,659$136,698
I-19 Revenue less expensesPrior year −$9,541$108,610
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $245,308 across 7 lines filed
VIII-1d Related organizations$132,733
VIII-1e Government grants$71,510
VIII-1g Noncash contributions (included above)$132,733
VIII-1h Total contributions, gifts and grants$204,243
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $40,111$40,111
VIII-3 Investment incomeExcluded from tax $954$954
VIII-12 Total revenueRelated to mission $40,111 · Unrelated business $0 · Excluded from tax $954$245,308
Part IX · Statement of functional expenses $136,698 across 11 lines filed
IX-7 Other salaries and wagesPrograms $11,702 · Management $3,495$15,197
IX-9 Other employee benefitsPrograms $1,433 · Management $428$1,861
IX-10 Payroll taxesPrograms $942 · Management $291$1,233
IX-11a Management feesManagement $5,760$5,760
IX-11c Accounting feesPrograms $1,601 · Management $13,970$15,571
IX-12 Advertising and promotionManagement $173$173
IX-13 Office expensesManagement $2,509$2,509
IX-16 OccupancyPrograms $21,320$21,320
IX-22 Depreciation, depletion and amortizationPrograms $35,471$35,471
IX-23 InsurancePrograms $9,784 · Management $1,261$11,045
IX-24 Other expenses (24a–d)Programs $16,595 · Management $9,963$26,558
IX-25 Total functional expensesPrograms $98,848 · Management $37,850 · Fundraising $0$136,698
Part X · Balance sheet $573,479 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $69,565$32,668
X-2 Savings and temporary cash investmentsStart of year $79,352$90,323
X-4 Accounts receivableStart of year $152$1,009
X-10c Land, buildings and equipment, netStart of year $478,870$449,479
X-15 Other assetsStart of year $3,065$0
X-16 Total assetsStart of year $631,004$573,479
X-17 Accounts payable and accrued expensesStart of year $97,857$58,786
X-19 Deferred revenueStart of year $197$10
X-25 Other liabilitiesStart of year $187,739$60,862
X-26 Total liabilitiesStart of year $285,793$119,658
X-27 Net assets without donor restrictionsStart of year $345,211$453,821
X-32 Total net assets or fund balancesStart of year $345,211$453,821
X-33 Total liabilities and net assetsStart of year $631,004$573,479
Part XI · Reconciliation of net assets $453,821 net assets at year end
XI-1 Total revenue$245,308
XI-2 Total expenses$136,698
XI-3 Revenue less expenses$108,610
XI-4 Net assets at start of year$345,211
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$453,821

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

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