Totals
- Total revenue
- $10,582,311
- Total expenses
- $11,903,799
- Contributions and grants received
- $7,441,460
- Grants paid
- $4,922,800
- Program service revenue
- $3,077,976
- Investment income
- $49,614
- Other revenue
- $13,261
- Total assets, end of year
- $16,515,442
- Total liabilities, end of year
- $7,207,164
- Net assets or fund balances, end of year
- $9,308,278
- Program services expenses (Part IX)
- $10,671,370
- Management and general expenses
- $1,232,429
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $10,671,370
Program services were 89.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$7,349,590
-
1f · All other contributions, gifts and grants
$91,870
-
2a · Program service revenue: RENTAL INCOME
total $3,047,014 · related or exempt $3,020,432 · unrelated business $26,582
-
2b · Program service revenue: PROPERTY MANAGEMENT FEES
total $30,962 · related or exempt $30,962
-
3 · Investment income
total $66,336 · excluded $66,336
-
7a · Gross sales of assets other than inventory
securities $1,164,217
-
7b · Less cost or other basis and sales expenses
securities $1,180,939
-
7c · Gain or loss
securities -$16,722
-
7d · Net gain or loss
total -$16,722 · excluded -$16,722
-
11a · Other revenue: LAUNDRY & VENDING
total $9,853 · excluded $9,853
-
11b · Other revenue: NSF & LATE CHARGES
total $1,592 · excluded $1,592
-
11c · Other revenue: FURNITURE FEES
total $1,265 · excluded $1,265
-
11d · All other revenue
total $551 · excluded $551
-
11e · Other revenue, total
$13,261
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $4,922,800 · program services $4,922,800
-
5 · Compensation of officers, directors and key employees
total $618,651 · program services $433,056 · management and general $185,595
-
7 · Other salaries and wages
total $1,974,545 · program services $1,382,181 · management and general $592,364
-
9 · Other employee benefits
total $33,477 · program services $23,434 · management and general $10,043
-
10 · Payroll taxes
total $243,921 · program services $170,745 · management and general $73,176
-
11b · Fees: legal
total $16,796 · program services $13,437 · management and general $3,359
-
11c · Fees: accounting
total $48,452 · program services $38,761 · management and general $9,691
-
11f · Fees: investment management
total $9,320 · management and general $9,320
-
11g · Fees: other
total $163,730 · program services $130,984 · management and general $32,746
-
13 · Office expenses
total $357,295 · program services $250,107 · management and general $107,188
-
16 · Occupancy
total $124,895 · program services $87,427 · management and general $37,468
-
22 · Depreciation, depletion and amortization
total $361,509 · program services $325,358 · management and general $36,151
-
23 · Insurance
total $159,606 · program services $143,645 · management and general $15,961
-
24a · Other expenses: PROPERTY EXPENSES
total $2,749,435 · program services $2,749,435
-
24b · Other expenses: ERC REPAYMENT
total $119,367 · management and general $119,367
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,916,215 · end of year $1,950,220
-
2 · Savings and temporary cash investments
beginning of year $45,796 · end of year $98,021
-
4 · Accounts receivable
beginning of year $2,374,694 · end of year $1,353,598
-
8 · Inventories for sale or use
beginning of year $50,419 · end of year $77,875
-
9 · Prepaid expenses and deferred charges
beginning of year $211,057 · end of year $86,331
-
10a · Land, buildings and equipment: cost or other basis
$15,343,829
-
10b · Land, buildings and equipment: accumulated depreciation
$7,254,808
-
10c · Land, buildings and equipment, net
beginning of year $6,957,271 · end of year $8,089,021
-
11 · Investments: publicly traded securities
beginning of year $2,112,801 · end of year $1,129,049
-
15 · Other assets
beginning of year $3,947,879 · end of year $3,731,327
-
17 · Accounts payable and accrued expenses
beginning of year $302,496 · end of year $674,189
-
21 · Escrow or custodial account liability
beginning of year $47,452 · end of year $49,662
-
23 · Secured mortgages and notes payable
beginning of year $2,686,664 · end of year $2,584,983
-
25 · Other liabilities
beginning of year $4,030,366 · end of year $3,898,330
-
27 · Net assets without donor restrictions
beginning of year $10,549,154 · end of year $9,308,278
Mission and programs · 2023
Mission
TO PROVIDE QUALIFIED INDIVIDUALS AFFORDABLE HOUSING THAT SATISFIES THEIR RESIDENTIAL NEEDS.
-
EXCEL DEVELOPMENT CO., INC. SUPPORTS SEVERELY MENTALLY ILL INDIVIDUALS AND THEIR FAMILIES IN OVER 1,100 APARTMENTS BY PROVIDING RENTAL SUBSIDIES AND HOUSING SUPPORT IN TWO DIFFERENT PERMANENT SUPPORTIVE HOUSING PROGRAMS. EXCEL DEVELOPMENT CO., INC.'S HOUSING PROGRAMS PROVIDE NECESSARY SUPPORT FOR THEIR CLIENTS TO OBTAIN AND REMAIN IN SUITABLE INDEPENDENT LIVING SITUATIONS.
Expenses $10,671,370 · Grants $4,922,800 · Revenue $3,051,394
As filed on the 2023 return.
Listed in Part VII
-
Susan M ArgoSUSAN M ARGO
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Anita G KuppinANITA G KUPPIN
VICE-CHAIR THRU AUGUST
- Total calculated
- $0
- Hours/week
- 1
-
Martin L AckermanMARTIN L ACKERMAN
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
John Frank JrJOHN FRANK JR
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Martha WassermannMARTHA WASSERMANN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Trena GoodwinTRENA GOODWIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Trina TurnerTRINA TURNER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Web BrewerWEB BREWER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Zamaris GeleszinskiZAMARIS GELESZINSKI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kevin Cooley SrKEVIN COOLEY SR
CEO
- Total calculated
- $319,808
- From this org
- $319,808
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $246,310
- Bonus
- $32,301
- Other
- $41,197
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $319,808
-
Deborah AveryDEBORAH AVERY
CFO
- Total calculated
- $141,422
- From this org
- $141,422
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Connie JonesCONNIE JONES
COO
- Total calculated
- $157,421
- From this org
- $157,421
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $109,048
- Bonus
- $13,195
- Other
- $35,178
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $157,421
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S OFFICERS OR KEY EMPLOYEES INCLUDED A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPRANEOUS SUBSTANIATION OF THE DELIBERATION AND DECISION. THE BOARD OF TRUSTEES DETERMINES THE SALARY FOR THE CEO/GENERAL MANAGER. THE CEO/GENERAL MANAGER DETERMINES THE SALARY FOR THE CHIEF FINANCIAL OFFICER AND THE CHIEF OPERATING OFFICER.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 27 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202500629349301300
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.