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Welcome House Properties INC

Covington, KY501(c)(3)Human Services EIN 87-3695976Revenue $104K in FY2024

On file with the IRS1132 Greenup St, 41011-3256 · Covington, KYTax-exempt since Apr 2022Supporting org, Type I — 509(a)(3)

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To support the operations of Welcome House, INC., a related non-profit.

81¢ of each $1 spent went to programs.
Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

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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
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
2 of 3
filings with a surplus
Average surplus $238K a year · 31% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $100
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8.7M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 8 voting members
Looks good: 6 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$104K
-79% vs prior year
Spent
$569K
To programs
81%
Net assets
$713K
By yearFY2021–FY2024
Revenue
$104K
FY2024▼ -79%
Tap a bar for its year
Revenue by fiscal year
FY2021$0
FY2022$1.7M
FY2023$498K
FY2024$104K
Expenses
$569K
FY2024▲ +25%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$551K
FY2023$456K
FY2024$569K
Net assets
$713K
FY2024▼ -39%
Tap a bar for its year
Net assets by fiscal year
FY2021$0
FY2022$1.1M
FY2023$1.2M
FY2024$713K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2022.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $460K Management & general 16% · $89K Fundraising 4% · $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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Danielle Amrine
Chair & Chief Executive Officer
$0Pt VII · Sec A
Brian Van Arsdale
Secretary & Chief Operating Officer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Welcome House Properties INC 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

Funds operations for a related non-profit that provides support.

Questions for Welcome House Properties INC

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Provided by the organization

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1 program · $460K · in their own filed words · FY2024
01

The organization exists to support the mission and activities of welcome house, inc., a 501c3 that provides a continuum of services aimed at reducing and eliminating homelessness in northern kentucky.

$460Kprogram 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
Arthur J Gallagher FoundationFY2024$100
Total grants receivedfrom 1 funder$100

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$104K
Ln 12
Other incomeLn 4–11$75K
Gifts and grantsLn 1h$29K
Money outPt IX
$569K
Ln 25
Programscol B$460K
Managementcol C$89K
Fundraisingcol D$20K
Owns and owesPt X
$713K
net assets · Ln 32
Cash and savingsLn 1–2$304K
Total assetsLn 16$9.4M
LiabilitiesLn 26$8.7M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29K
Other incomeLn 4–11$75K
Total revenueLn 12$104K
Assets in detailPt X, end of year
SavingsLn 2$304K
Cash and savings togetherLn 1–2$304K
Land, buildings, equipmentLn 10c$8.7M
Total assetsLn 16$9.4M
LiabilitiesLn 26$8.7M
Net assetsLn 32$713K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
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 FY24End FY24
Cash and savingsLn 1–2$367K$304K
Land, buildings, equipmentLn 10c$9.1M$8.7M
Total assetsLn 16$9.9M$9.4M
LiabilitiesLn 26$8.8M$8.7M
Net assetsLn 32$1.2M$713K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$623$2K$11
InterestLn 20$102K$84K$15K$3K
Depreciation, depletion and amortizationLn 22$431K$356K$64K$11K
Other expenses (24a–d)Ln 24$33K$20K$8K$6K
Total functional expensesLn 25$569K$460K$89K$20K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $104K$569K−$465K$713K 990 PDF
FY2023 $498K$456K$42K$1.2M 990 PDF
FY2022 $1.7M$551K$1.1M$1.1M 990 PDF
FY2021 $0$0 990 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 FY2024 990 (6 parts)
Part I · Summary $104,333 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $434,121$29,333
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $63,890$75,000
I-12 Total revenuePrior year $498,011$104,333
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $455,634$569,032
I-18 Total expensesPrior year $455,634$569,032
I-19 Revenue less expensesPrior year $42,377−$464,699
Part VI · Governance 6 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members6
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 $104,333 across 4 lines filed
VIII-1f All other contributions, gifts and grants$29,333
VIII-1h Total contributions, gifts and grants$29,333
VIII-6 Net rental income or lossExcluded from tax $75,000$75,000
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $75,000$104,333
Part IX · Statement of functional expenses $569,032 across 4 lines filed
IX-11c Accounting feesPrograms $623 · Management $1,766 · Fundraising $11$2,400
IX-20 InterestPrograms $84,426 · Management $15,197 · Fundraising $2,702$102,325
IX-22 Depreciation, depletion and amortizationPrograms $355,580 · Management $64,004 · Fundraising $11,379$430,963
IX-24 Other expenses (24a–d)Programs $19,683 · Management $7,681 · Fundraising $5,980$33,344
IX-25 Total functional expensesPrograms $460,312 · Management $88,648 · Fundraising $20,072$569,032
Part X · Balance sheet $9,447,110 assets, 9 lines filed
X-2 Savings and temporary cash investmentsStart of year $367,422$304,354
X-9 Prepaid expenses and deferred chargesStart of year $488,878$394,256
X-10c Land, buildings and equipment, netStart of year $9,084,842$8,748,500
X-16 Total assetsStart of year $9,941,142$9,447,110
X-24 Unsecured notes and loans payableStart of year $8,762,961$8,733,628
X-26 Total liabilitiesStart of year $8,762,961$8,733,628
X-27 Net assets without donor restrictionsStart of year $1,178,181$713,482
X-32 Total net assets or fund balancesStart of year $1,178,181$713,482
X-33 Total liabilities and net assetsStart of year $9,941,142$9,447,110
Part XI · Reconciliation of net assets $713,482 net assets at year end
XI-1 Total revenue$104,333
XI-2 Total expenses$569,032
XI-3 Revenue less expenses−$464,699
XI-4 Net assets at start of year$1,178,181
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$713,482

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

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