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Paradise Community Homes

Tax-deductible

Valparaiso, IN501(c)(3)Community Development EIN 99-4495304Revenue $728K in FY2025

On file with the IRSparadisecommunityhomes.org3803 Sandpiper CT N, 46385-6317 · Valparaiso, INTax-exempt since May 2025Publicly supported — 509(a)(2)

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Paradise Community Homes, INC. Is dedicated to transforming the dream of home ownership into a reality. We connect aspiring homeowners with partners, resources, and expertise, providing the support needed to buy their first valparaiso, indiana home,regardless,of the challenges they face as first-time homebuyers amid a lack of affordable options in the marketplace.

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

FY2025 · 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
2 of 2
filings with a surplus
Average surplus $416K a year · 76% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 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
18 mo
of spending, in cash
Looks good: 17.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$564K
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$728K
+102% vs prior year
Spent
$245K
To programs
100%
Net assets
$832K
By yearFY2024–FY2025
Revenue
$728K
FY2025▲ +102%
Tap a bar for its year
Revenue by fiscal year
FY2024$361K
FY2025$728K
Expenses
$245K
FY2025▲ ×20
Tap a bar for its year
Expenses by fiscal year
FY2024$12K
FY2025$245K
Net assets
$832K
FY2025▲ +139%
Tap a bar for its year
Net assets by fiscal year
FY2024$349K
FY2025$832K

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2025.

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% · $245K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
Bill Oeding
President
$0Pt VII · Sec A
Bob Coolman
Vice Preside
$0Pt VII · Sec A
Lori Nicklas
Sec/Treas
$0Pt VII · Sec A
Kevin Cornett
Executive Di
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Matt Evans
Design & Dev
$0Pt VII · Sec A
Paul Reed
Design & Dev
$0Pt VII · Sec A

Kevin Cornett’s $4K as Executive Di is at the 3rd percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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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

Helps first-time buyers achieve homeownership with support and resources.

Questions for Paradise Community Homes

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3 programs · in their own filed words · FY2025
01

Paradise community homes, inc. Is dedicated to transforming the dream of home ownership into a reality. We connect aspiring homeowners with partners, resources, and expertise, providing the support needed to buy their first valparaiso, indiana home,regardless,of the challenges they face as first-time homebuyers amid a lack of affordable…

Pt IX · col B
02

Paradise community homes, inc. Is dedicated to transforming the dream of home ownership into a reality. We connect aspiring homeowners with partners, resources, and expertise, providing the support needed to buy their first valparaiso, indiana home,regardless,of the challenges they face as first-time homebuyers amid a lack of affordable…

Pt IX · col B
03

Paradise community homes, inc. Is dedicated to transforming the dream of home ownership into a reality. We connect aspiring homeowners with partners, resources, and expertise, providing the support needed to buy their first valparaiso, indiana home,regardless,of the challenges they face as first-time homebuyers amid a lack of affordable…

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$728K
Ln 12
Fees for servicesLn 2g$400K
Gifts and grantsLn 1h$328K
Money outPt IX
$245K
Ln 25
Programscol B$245K
Owns and owesPt X
$832K
net assets · Ln 32
Cash and savingsLn 1–2$360K
Total assetsLn 16$1.4M
LiabilitiesLn 26$564K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$328K
Government grantsLn 1e$300K
Fees for servicesLn 2g$400K
Total revenueLn 12$728K
Assets in detailPt X, end of year
CashLn 1$360K
Cash and savings togetherLn 1–2$360K
Total assetsLn 16$1.4M
LiabilitiesLn 26$564K
Net assetsLn 32$832K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$246K$360K
Total assetsLn 16$349K$1.4M
LiabilitiesLn 26$0$564K
Net assetsLn 32$349K$832K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$20K$20K
Office expensesLn 13$42$42
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$1.3M$1.3M
All other expensesLn 24e−$1.1M−$1.1M
Total functional expensesLn 25$245K$245K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $728K$245K$483K$832K 990 PDF
FY2024 $361K$12K$349K$349K 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 FY2025 990 (6 parts)
Part I · Summary $727,860 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $360,807$327,860
I-9 Program service revenue$400,000
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $360,807$727,860
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $12,123$244,705
I-18 Total expensesPrior year $12,123$244,705
I-19 Revenue less expensesPrior year $348,684$483,155
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $727,860 across 5 lines filed
VIII-1e Government grants$300,000
VIII-1f All other contributions, gifts and grants$27,860
VIII-1h Total contributions, gifts and grants$327,860
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $400,000$400,000
VIII-12 Total revenueRelated to mission $400,000$727,860
Part IX · Statement of functional expenses $244,705 across 5 lines filed
IX-11a Management feesPrograms $19,764$19,764
IX-13 Office expensesPrograms $42$42
IX-23 InsurancePrograms $1,563$1,563
IX-24 Other expenses (24a–d)Programs $1,349,372$1,349,372
IX-24e All other expensesPrograms −$1,126,036−$1,126,036
IX-25 Total functional expensesPrograms $244,705 · Management $0 · Fundraising $0$244,705
Part X · Balance sheet $1,396,339 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $246,184$360,436
X-8 Inventories for sale or useStart of year $102,500$1,035,903
X-16 Total assetsStart of year $348,684$1,396,339
X-24 Unsecured notes and loans payable$564,500
X-26 Total liabilitiesStart of year $0$564,500
X-27 Net assets without donor restrictionsStart of year $348,684$831,839
X-32 Total net assets or fund balancesStart of year $348,684$831,839
X-33 Total liabilities and net assetsStart of year $348,684$1,396,339
Part XI · Reconciliation of net assets $831,839 net assets at year end
XI-1 Total revenue$727,860
XI-2 Total expenses$244,705
XI-3 Revenue less expenses$483,155
XI-4 Net assets at start of year$348,684
XI-10 Net assets at end of year$831,839

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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