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Shields Housing Corporation

Tax-deductible

Los Angeles, CA501(c)(3)HousingEIN 95-4516191Revenue $1.1M in FY2024

On file with the IRSPo Box 59129, 90059-0129 · Los Angeles, CATax-exempt since Jul 1995Publicly supported — 509(a)(2)

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Shields Housing Corporation provides advocacy and establishes Housing programs to meet the needs of high-risk families in underserved areas with an emphasis on services to the south-central los angeles community

501(c)(3) charity; gifts are tax-deductible.
100¢ 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
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
1 of 5
filings with a surplus
Average deficit $576K a year · 60% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
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
Liabilities
$6.3M
112% of total assets
Concern: liabilities are 112% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+5% vs prior year
Spent
$1.2M
To programs
100%
Net assets
−$697K
By yearFY2020–FY2024
Revenue
$1.1M
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$626K
FY2022$818K
FY2023$1.0M
FY2024$1.1M
Expenses
$1.2M
FY2024▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.1M
FY2022$2.9M
FY2023$1.0M
FY2024$1.2M
Net assets
−$697K
FY2024▼ -183%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.3M
FY2021$1.8M
FY2022−$256K
FY2023−$246K
FY2024−$697K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1995.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.2M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Kathryn Icenhower
Vice President/Secretary
$0Pt VII · Sec A
Alison Quals
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Dr Xylina Bean
Board Member
$0Pt VII · Sec A
See Shields Housing Corporation 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

Advocates for and establishes housing programs for high-risk families in underserved areas.

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Provided by the organization

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1 program · $1.2M · in their own filed words · FY2024
01

Shields housing corporation provided programs for high-risk low-income families in south central los angeles.

$1.2Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.1M
Ln 12
Other incomeLn 4–11$1.1M
Money outPt IX
$1.2M
Ln 25
Programscol B$1.2M
Owns and owesPt X
−$697K
net assets · Ln 32
Cash and savingsLn 1–2$146K
Total assetsLn 16$5.6M
LiabilitiesLn 26$6.3M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Other incomeLn 4–11$1.1M
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$146K
Cash and savings togetherLn 1–2$146K
Land, buildings, equipmentLn 10c$5.5M
Total assetsLn 16$5.6M
LiabilitiesLn 26$6.3M
Net assetsLn 32−$697K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$94K$146K
Land, buildings, equipmentLn 10c$5.7M$5.5M
Total assetsLn 16$5.8M$5.6M
LiabilitiesLn 26$6.1M$6.3M
Net assetsLn 32−$246K−$697K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$43K$43K
Other fees for servicesLn 11g$3K$3K
InterestLn 20$694K$694K
Depreciation, depletion and amortizationLn 22$273K$273K
InsuranceLn 23$29K$29K
Other expenses (24a–d)Ln 24$151K$151K$0$0
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$1.2M$1.2M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.1M$1.2M−$129K−$697K 990 PDF
FY2023 $1.0M$1.0M$10K−$246K 990 PDF
FY2022 $818K$2.9M−$2.1M−$256K 990 PDF
FY2021 $626K$1.1M−$471K$1.8M 990 PDF
FY2020 $1.2M$1.5M−$228K$2.3M 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 $1,067,059 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $1,019,736$1,067,059
I-12 Total revenuePrior year $1,019,736$1,067,059
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 $1,010,179$1,196,013
I-18 Total expensesPrior year $1,010,179$1,196,013
I-19 Revenue less expensesPrior year $9,557−$128,954
Part VI · Governance 3 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
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 $1,067,059 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$0
VIII-6 Net rental income or lossRelated to mission $1,067,059 · Unrelated business $0 · Excluded from tax $0$1,067,059
VIII-12 Total revenueRelated to mission $1,067,059 · Unrelated business $0 · Excluded from tax $0$1,067,059
Part IX · Statement of functional expenses $1,196,013 across 7 lines filed
IX-11a Management feesPrograms $43,428$43,428
IX-11g Other fees for servicesPrograms $3,403$3,403
IX-20 InterestPrograms $693,993$693,993
IX-22 Depreciation, depletion and amortizationPrograms $272,841$272,841
IX-23 InsurancePrograms $29,464$29,464
IX-24 Other expenses (24a–d)Programs $151,243 · Management $0 · Fundraising $0$151,243
IX-24e All other expensesPrograms $1,641$1,641
IX-25 Total functional expensesPrograms $1,196,013 · Management $0 · Fundraising $0$1,196,013
Part X · Balance sheet $5,597,670 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $94,134$145,787
X-10c Land, buildings and equipment, netStart of year $5,724,724$5,451,883
X-16 Total assetsStart of year $5,818,858$5,597,670
X-25 Other liabilitiesStart of year $1,555$1,555
X-26 Total liabilitiesStart of year $6,064,931$6,294,321
X-27 Net assets without donor restrictionsStart of year −$246,073−$696,651
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$246,073−$696,651
X-33 Total liabilities and net assetsStart of year $5,818,858$5,597,670
Part XI · Reconciliation of net assets −$696,651 net assets at year end
XI-1 Total revenue$1,067,059
XI-2 Total expenses$1,196,013
XI-3 Revenue less expenses−$128,954
XI-4 Net assets at start of year−$246,073
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments−$321,624
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$696,651

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

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