Progress Apartments INC FY2024 filing

Tax-deductible

San Francisco, CA501(c)(3)EIN 94-3083025Revenue $215K in FY2024

On file with the IRS368 Fell St, 94102-5144 · San Francisco, CATax-exempt since Oct 1993Publicly supported charity — 170(b)(1)(A)(vi)

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To provide subsidized low cost housing for low income individuals with mental disailities.

501(c)(3) charity; gifts are tax-deductible.
95¢ 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
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
5 of 5
filings with a surplus
Average surplus $26K a year · 13% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$476K
146% of total assets
Concern: liabilities are 146% of assets; over 80%.
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
$215K
+2% vs prior year
Spent
$206K
To programs
95%
Net assets
−$149K
By yearFY2020–FY2025
Revenue
$215K
FY2024▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$197K
FY2021$200K
FY2023$210K
FY2024$215K
FY2025$223K
Expenses
$206K
FY2024▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$188K
FY2021$161K
FY2023$174K
FY2024$206K
FY2025$185K
Net assets
−$149K
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020−$253K
FY2021−$213K
FY2023−$158K
FY2024−$149K
FY2025−$111K

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

Form 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 Oct 1993.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $195K Management & general 5% · $11K

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

24 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Bd Member
$0Pt VII · Sec A
Bd Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Bd Member
$0Pt VII · Sec A
Bd Member
$0Pt VII · Sec A
See Progress Apartments 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

Offers affordable housing to low-income individuals with mental disabilities.

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Provided by the organization

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2 programs · in their own filed words · FY2023
01

To provide low cost subsidized housing for low income individuals with mental disabilities.

Pt IX · col B
02

To provide low cost subsidized housing for low income individuals with mental disabilities.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$215K
Ln 12
Gifts and grantsLn 1h$129K
Fees for servicesLn 2g$87K
Money outPt IX
$206K
Ln 25
Programscol B$195K
Managementcol C$11K
Owns and owesPt X
−$149K
net assets · Ln 32
Cash and savingsLn 1–2$69K
Total assetsLn 16$327K
LiabilitiesLn 26$476K
PeoplePt VI, VII
24
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$129K
Government grantsLn 1e$129K
Fees for servicesLn 2g$87K
Total revenueLn 12$215K
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$69K
Total assetsLn 16$327K
LiabilitiesLn 26$476K
Net assetsLn 32−$149K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $223K$185K$38K−$111K 990 PDF
FY2024 Viewing $215K$206K$9K−$149K 990 PDF
FY2023 $210K$174K$37K−$158K 990 PDF
FY2022 Not on file
FY2021 $200K$161K$39K−$213K 990 PDF
FY2020 $197K$188K$9K−$253K 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 (1 part)
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

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

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