Eden South Bay INC FY2023 filing

Tax-deductible

Hayward, CA501(c)(3)Since 1992EIN 94-3166350

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To serve as managing general partner of various partnerships that own and operate low-income housing projects

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
$170K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
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 5
filings with a surplus
Average deficit $1.6M a year · 55% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$170K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5.1M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$23.0M
171% of total assets
Concern: liabilities are 171% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+48% vs prior year
Spent
$2.2M
To programs
98%
Net assets
−$9.6M
By yearFY2020–FY2024
Revenue
$2.1M
FY2023▲ +48%
Revenue by fiscal year
FY2020$3.1M
FY2021$1.6M
FY2022$1.4M
FY2023$2.1M
FY2024$6.3M
Expenses
$2.2M
FY2023▼ -80%
Expenses by fiscal year
FY2020$1.9M
FY2021$1.8M
FY2022$11.0M
FY2023$2.2M
FY2024$5.6M
Net assets
−$9.6M
FY2023▼ -0.7%
Net assets by fiscal year
FY2020−$1.4M
FY2021$61K
FY2022−$9.5M
FY2023−$9.6M
FY2024−$8.8M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1993.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $2.1M Management & general 2% · $52K

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

9 people listed on the 990; $170K paid to officers and key staff.

Part VII, Section A · reportable compensation
Assoc Director of Real Est
$170,170Pt VII · Sec A
$0Pt VII · Sec A
Assistant Secretary/General Counsel
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Theodore Newmyer$168,458$170,170$156,485$128,146$116,293

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

Manages partnerships that own and operate low-income housing projects.

Provided by the organization

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1 program service account for $2.1M of program spending, described in the organization's own filed words · FY2023.
01

To serve as managing general partner of various partnerships that own and operate low-income housing projects

$2.1Mprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Eden Housing INCFY2024$5.1M
Total grants receivedfrom 1 funder$5.1M
Grants paid · 6 grants · $245K · 2020–2024
Eden Housing INCCA · FY2024$37,965
Eden Housing INCCA · FY2023$74,461
Depot Willows LPFY2023$26,467
Eden Housing INCCA · FY2022$17,859
Eden Housing INCCA · FY2021$67,735
Eden Housing INCCA · FY2020$20,940

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Gifts and grantsLn 1h$1.5M
Fees for servicesLn 2g$502K
Investment incomeLn 3$33K
Money outPt IX
$2.2M
Ln 25
Programscol B$2.1M
Managementcol C$52K
Owns and owesPt X
−$9.6M
net assets · Ln 32
Cash and savingsLn 1–2$265K
Total assetsLn 16$13.4M
LiabilitiesLn 26$23.0M
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Government grantsLn 1e$506K
Fees for servicesLn 2g$502K
Investment incomeLn 3$33K
Other incomeLn 4–11$20K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$265K
Cash and savings togetherLn 1–2$265K
Land, buildings, equipmentLn 10c$8.9M
Other assetsLn 15$4.2M
Total assetsLn 16$13.4M
LiabilitiesLn 26$23.0M
Net assetsLn 32−$9.6M
OperationsPt I, VI
EmployeesI 51
VolunteersI 66
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 FY23End FY23
Cash and savingsLn 1–2$267K$265K
Land, buildings, equipmentLn 10c$9.1M$8.9M
Total assetsLn 16$13.6M$13.4M
LiabilitiesLn 26$23.1M$23.0M
Net assetsLn 32−$9.5M−$9.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$101K$101K
Other salaries and wagesLn 7$93K$93K
Pension plan contributionsLn 8$11K$11K
Other employee benefitsLn 9$27K$27K
Payroll taxesLn 10$21K$21K
Management feesLn 11a$272K$272K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$52K$52K
Other fees for servicesLn 11g$8K$8K
Office expensesLn 13$221K$221K
Information technologyLn 14$8K$8K
OccupancyLn 16$558K$558K
TravelLn 17$161$161
Conferences, conventions and meetingsLn 19$1K$1K
Depreciation, depletion and amortizationLn 22$309K$309K
Other expenses (24a–d)Ln 24$458K$458K
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$2.2M$2.1M$52K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $6.3M$5.6M$758K−$8.8M 990 PDF
FY2023 Viewing $2.1M$2.2M−$68K−$9.6M 990 PDF
FY2022 $1.4M$11.0M−$9.6M−$9.5M 990 PDF
FY2021 $1.6M$1.8M−$212K$61K 990 PDF
FY2020 $3.1M$1.9M$1.1M−$1.4M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $2,093,559 across 7 lines filed
Lines not itemized here account for $13,633 of total revenue; see the IRS return.
VIII-1d Related organizations$1,032,855
VIII-1e Government grants$506,123
VIII-1h Total contributions, gifts and grants$1,538,978
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $501,996$501,996
VIII-3 Investment incomeExcluded from tax $32,703$32,703
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,249$6,249
VIII-12 Total revenueRelated to mission $521,878 · Unrelated business $0 · Excluded from tax $32,703$2,093,559
Part IX · Statement of functional expenses $2,161,071 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $100,928$100,928
IX-7 Other salaries and wagesPrograms $92,714$92,714
IX-8 Pension plan contributionsPrograms $10,721$10,721
IX-9 Other employee benefitsPrograms $27,020$27,020
IX-10 Payroll taxesPrograms $21,364$21,364
IX-11a Management feesPrograms $271,654$271,654
IX-11b Legal feesPrograms $8,363$8,363
IX-11c Accounting feesManagement $52,206$52,206
IX-11g Other fees for servicesPrograms $7,520$7,520
IX-13 Office expensesPrograms $221,131$221,131
IX-14 Information technologyPrograms $8,412$8,412
IX-16 OccupancyPrograms $557,719$557,719
IX-17 TravelPrograms $161$161
IX-19 Conferences, conventions and meetingsPrograms $1,070$1,070
IX-22 Depreciation, depletion and amortizationPrograms $309,297$309,297
IX-24 Other expenses (24a–d)Programs $458,129$458,129
IX-24e All other expensesPrograms $12,662$12,662
IX-25 Total functional expensesPrograms $2,108,865 · Management $52,206 · Fundraising $0$2,161,071
Part X · Balance sheet $13,407,015 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $266,881$265,337
X-4 Accounts receivableStart of year $2,494$53,983
X-9 Prepaid expenses and deferred chargesStart of year $12,814$13,801
X-10c Land, buildings and equipment, netStart of year $9,115,185$8,894,323
X-15 Other assetsStart of year $4,244,307$4,179,571
X-16 Total assetsStart of year $13,641,681$13,407,015
X-17 Accounts payable and accrued expensesStart of year $92,418$76,578
X-19 Deferred revenueStart of year $72,587$72,333
X-25 Other liabilitiesStart of year $9,830,098$9,413,144
X-26 Total liabilitiesStart of year $23,131,867$22,964,713
X-27 Net assets without donor restrictionsStart of year −$9,490,186−$9,557,698
X-32 Total net assets or fund balancesStart of year −$9,490,186−$9,557,698
X-33 Total liabilities and net assetsStart of year $13,641,681$13,407,015
Part XI · Reconciliation of net assets −$9,557,698 net assets at year end
XI-1 Total revenue$2,093,559
XI-2 Total expenses$2,161,071
XI-3 Revenue less expenses−$67,512
XI-4 Net assets at start of year−$9,490,186
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$9,557,698

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

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