Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,289,872

• 1f · All other contributions, gifts and grants

  $1,165,991

• 2a · Program service revenue: PROGRAM SERVICE REVENUE

  total $3,290,915 · related or exempt $3,290,915

• 3 · Investment income

  total $3,752,794 · related or exempt $3,752,794

• 7a · Gross sales of assets other than inventory

  securities $30,299,501

• 7b · Less cost or other basis and sales expenses

  securities $27,728,869

• 7c · Gain or loss

  securities $2,570,632

• 7d · Net gain or loss

  total $2,570,632 · related or exempt $2,570,632

• 10a · Gross sales of inventory

  $195,336,796

• 10b · Cost of goods sold

  $150,431,658

• 10c · Net income from sales of inventory

  total $44,905,138 · related or exempt $44,905,138

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,207,044 · program services $2,207,044

• 5 · Compensation of officers, directors and key employees

  total $4,910,443 · program services $3,398,310 · management and general $1,443,645 · fundraising $68,488

• 7 · Other salaries and wages

  total $26,926,764 · program services $26,013,019 · management and general $872,784 · fundraising $40,961

• 8 · Pension plan contributions

  total $2,281,629 · program services $2,149,489 · management and general $132,140

• 9 · Other employee benefits

  total $4,704,351 · program services $4,528,709 · management and general $149,926 · fundraising $25,716

• 10 · Payroll taxes

  total $1,917,115 · program services $1,794,659 · management and general $116,985 · fundraising $5,471

• 11b · Fees: legal

  total $548,648 · program services $103,269 · management and general $445,379

• 11c · Fees: accounting

  total $68,120 · management and general $68,120

• 11d · Fees: lobbying

  total $8,423 · program services $8,423

• 11f · Fees: investment management

  total $643,395 · management and general $643,395

• 11g · Fees: other

  total $2,321,724 · program services $1,170,577 · management and general $1,151,147

• 12 · Advertising and promotion

  total $223,914 · management and general $223,914

• 13 · Office expenses

  total $965,025 · program services $965,025

• 14 · Information technology

  total $1,206,468 · program services $1,206,468

• 16 · Occupancy

  total $617,408 · program services $515,814 · management and general $101,594

• 17 · Travel

  total $549,886 · program services $549,886

• 20 · Interest

  total $4,600 · program services $4,600

• 22 · Depreciation, depletion and amortization

  total $279,164 · program services $267,084 · management and general $12,080

• 23 · Insurance

  total $665,693 · program services $265,925 · management and general $399,768

• 24a · Other expenses: MEDICATIONS & SUPPLIES

  total $2,131,369 · program services $2,131,369 · management and general $0 · fundraising $0

• 24b · Other expenses: PROGRAM EXPENSES

  total $1,198,389 · program services $1,198,389

• 24c · Other expenses: CREDIT LOSSES

  total $772,504 · program services $772,504

• 24d · Other expenses: RECRUITING

  total $432,268 · program services $432,268

• 24e · All other expenses

  total $989,721 · program services $926,850 · management and general $62,871

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,427,717 · end of year $6,378,703

• 3 · Pledges and grants receivable

  beginning of year $411,698 · end of year $617,416

• 4 · Accounts receivable

  beginning of year $33,588,287 · end of year $29,080,034

• 8 · Inventories for sale or use

  beginning of year $7,084,290 · end of year $6,851,874

• 9 · Prepaid expenses and deferred charges

  beginning of year $555,906 · end of year $576,655

• 10a · Land, buildings and equipment: cost or other basis

  $10,663,151

• 10b · Land, buildings and equipment: accumulated depreciation

  $3,144,532

• 10c · Land, buildings and equipment, net

  beginning of year $7,367,996 · end of year $7,518,619

• 11 · Investments: publicly traded securities

  beginning of year $124,438,835 · end of year $129,045,406

• 12 · Investments: other securities

  beginning of year $27,270,838 · end of year $30,912,590

• 15 · Other assets

  beginning of year $3,242,565 · end of year $3,019,570

• 17 · Accounts payable and accrued expenses

  beginning of year $14,412,013 · end of year $12,365,585

• 25 · Other liabilities

  beginning of year $173,210 · end of year $96,154

• 27 · Net assets without donor restrictions

  beginning of year $190,669,909 · end of year $201,517,726

• 28 · Net assets with donor restrictions

  beginning of year $133,000 · end of year $21,402

The filer's explanations (Part III)

PART I, LINE 7

THE EMPLOYEES LISTED ON SCHEDULE J, PART II ARE ELIGIBLE TO PARTICIPATE IN IHTC'S INCENTIVE COMPENSATION PLAN. IHTC DEVELOPED ITS COMPENSATION PLAN IN CONJUNCTION WITH AN INDEPENDENT CONSULTANT. IN ADDITION, THE PLAN WAS APPROVED BY THE INDEPENDENT COMPENSATION COMMITTEE AND BOARD OF DIRECTORS. IN ADOPTING ITS INCENTIVE BASED COMPENSATION PLAN, IHTC (TOGETHER WITH AN INDEPENDENT CONSULTANT, ITS EXTERNAL LEGAL COUNSEL, AND THE COMPENSATION COMMITTEE) CONSIDERED AND APPLIED THE PROVISIONS OF CODE SECTION 4958 AND THE CORRESPONDING TREASURY REGULATIONS TO ENSURE THAT ITS COMPENSATION DECISIONS REFLECT ARMS' LENGTH, FAIR MARKET TERMS. IHTC PROVIDES FOR DIRECTOR AND OFFICER FIRST CLASS TRAVEL FOR FLIGHTS IN EXCESS OF THREE HOURS AND MAINTAINS A WRITTEN POLICY ACCORDINGLY.