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← FELLOWSHIP SQUARE FOUNDATION INCORPORATED

Form 990 for tax year 2022

Filed by FELLOWSHIP SQUARE FOUNDATION INCORPORATED.

Totals

Total revenue
$3,555,262
Total expenses
$6,551,523
Contributions and grants received
$307,837
Grants paid
$170,515
Program service revenue
$2,680,147
Investment income
$526,166
Other revenue
$41,112
Total assets, end of year
$22,701,355
Total liabilities, end of year
$4,286,242
Net assets or fund balances, end of year
$18,415,113
Program services expenses (Part IX)
$6,136,337
Management and general expenses
$293,620
Fundraising expenses
$121,566
Program service expenses (Part III)
$6,136,337

Program services were 93.7% 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.

  • 1c · Fundraising events

    $40,602

  • 1f · All other contributions, gifts and grants

    $267,235

  • 1g · Noncash contributions included above

    $170,515

  • 2a · Program service revenue: MANAGEMENT FEES

    total $1,709,677 · related or exempt $1,709,677

  • 2b · Program service revenue: DEV. FEES - LAKE ANNE

    total $917,773 · related or exempt $917,773

  • 2c · Program service revenue: TENANT RENTS

    total $52,697 · related or exempt $52,697

  • 3 · Investment income

    total $526,166 · excluded $526,166

  • 8a · Fundraising events: gross income

    $11,871

  • 8a · Fundraising events: contributions included on line 1c

    $40,602

  • 8b · Fundraising events: direct expenses

    $16,753

  • 8c · Net income from fundraising events

    total -$4,882 · excluded -$4,882

  • 9a · Gaming: gross income

    $525

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $525 · excluded $525

  • 11a · Other revenue: BAD DEBT RECOVERY

    total $27,795 · excluded $27,795

  • 11b · Other revenue: CABLE INCOME

    total $7,210 · excluded $7,210

  • 11c · Other revenue: INSURANCE REFUND

    total $4,905 · excluded $4,905

  • 11d · All other revenue

    total $5,559 · excluded $5,559

  • 11e · Other revenue, total

    $45,469

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $170,515 · program services $170,515

  • 5 · Compensation of officers, directors and key employees

    total $195,436 · program services $156,349 · management and general $29,315 · fundraising $9,772

  • 7 · Other salaries and wages

    total $567,900 · program services $454,320 · management and general $85,185 · fundraising $28,395

  • 8 · Pension plan contributions

    total $28,914 · program services $23,131 · management and general $4,337 · fundraising $1,446

  • 9 · Other employee benefits

    total $68,834 · program services $55,066 · management and general $10,325 · fundraising $3,443

  • 10 · Payroll taxes

    total $62,494 · program services $49,995 · management and general $9,374 · fundraising $3,125

  • 11b · Fees: legal

    total $57,222 · management and general $57,222

  • 11c · Fees: accounting

    total $17,115 · management and general $17,115

  • 11g · Fees: other

    total $134,262 · program services $134,262

  • 12 · Advertising and promotion

    total $22,348 · fundraising $22,348

  • 13 · Office expenses

    total $180,015 · program services $126,978 · fundraising $53,037

  • 14 · Information technology

    total $7,919 · program services $3,630 · management and general $4,289

  • 16 · Occupancy

    total $261,019 · program services $195,059 · management and general $65,960

  • 17 · Travel

    total $318 · program services $318

  • 24a · Other expenses: DEMOLITION COSTS

    total $4,753,235 · program services $4,753,235

  • 24b · Other expenses: DUES AND MEMBERSHIPS

    total $11,676 · program services $11,676

  • 24c · Other expenses: OTHER EMPLOYEE EXPENSES

    total $10,599 · program services $101 · management and general $10,498

  • 24d · Other expenses: SPECIAL GIFT EXP

    total $1,354 · program services $1,354

  • 24e · All other expenses

    total $348 · program services $348

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $748,995 · end of year $350,911

  • 2 · Savings and temporary cash investments

    beginning of year $272,516 · end of year $204,893

  • 4 · Accounts receivable

    beginning of year $386,283 · end of year $338,495

  • 7 · Other notes and loans receivable

    beginning of year $5,307,525 · end of year $5,467,907

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,599 · end of year $30,690

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $249,222

  • 11 · Investments: publicly traded securities

    beginning of year $9,705,303 · end of year $11,043,549

  • 15 · Other assets

    beginning of year $5,287,316 · end of year $5,264,910

  • 17 · Accounts payable and accrued expenses

    beginning of year $155,275 · end of year $114,179

  • 19 · Deferred revenue

    end of year $9,941

  • 21 · Escrow or custodial account liability

    beginning of year $38,429

  • 24 · Unsecured notes and loans payable

    end of year $488,226

  • 25 · Other liabilities

    beginning of year $63,808 · end of year $3,673,896

  • 27 · Net assets without donor restrictions

    beginning of year $21,526,520 · end of year $18,290,113

  • 28 · Net assets with donor restrictions

    beginning of year $212,727 · end of year $125,000

Mission and programs · 2022

Mission

THE ORGANIZATION PROVIDES AFFORDABLE HOUSING AND SERVICES TO OLDER ADULTS.

Activities or mission (Part I)

AFFORDABLE HOUSING FOR THE ELDERLY AND PHYSICALLY HANDICAPPED OR DISABLED PERSONS.

  • FELLOWSHIP SQUARE (FS) PROVIDES AFFORDABLE HOUSING AND SERVICES TO SENIORS, 62 AND OLDER, WHO HAVE VERY LIMITED INCOME AND RESOURCES. FS OWNS FOUR APARTMENT BUILDINGS THROUGHOUT THE WASHINGTON, D.C. REGION CONSISTING OF 670 TOTAL RENTAL UNITS SERVING MORE THAN 800 OLDER ADULTS. THE REDEVELOPMENT OF FELLOWSHIP SQUARE'S LAKE ANNE PROPERTY WAS COMPLETED IN 2023 AND THE OLD STRUCTURE WAS DEMOLISHED. FS PROVIDES GOVERNANCE, LEGAL, FINANCIAL, FUNDRAISING, AND PUBLIC RELATIONS SERVICES TO EACH OF THE PROPERTIES, ALONG WITH A PARTNER AND VOLUNTEER BASE THAT IMPLEMENTS PROGRAMS AND SERVICES TO BENEFIT THE RESIDENTS. AT EACH FELLOWSHIP HOUSE, AN ONSITE SERVICE COORDINATOR WORKS WITH RESIDENTS TO NAVIGATE MEDICARE, MEDICAID, AND OTHER BENEFITS TO WHICH THEY ARE ENTITLED, AND SERVES AS A LINCHPIN BETWEEN COMMUNITY RESOURCES AND RESIDENTS. ALL THE PROPERTIES OPERATE UNDER SECTION 223 (F) OF THE NATIONAL HOUSING ACT AND PARTICIPATE IN THE SECTION 8 PROGRAM.

    Expenses $6,136,337 · Grants $170,515 · Revenue $2,680,147

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carl Alan Jenkins

    DIR., FSF, PRES, HUNTERS W

    Total calculated
    $0
    Hours/week
    0.75 + 0.75 related

  • Daniel Flavin

    PRESIDENT, FSF

    Total calculated
    $0
    Hours/week
    0.75

  • Edward S Byrne

    DIR., FSF, PRES, LAKE ANNE

    Total calculated
    $0
    Hours/week
    0.75

  • John Gray

    TREASURER, FSF

    Total calculated
    $0
    Hours/week
    0.75 + 0.75 related

  • Lynn Thomas

    SEC'Y, FSF (TO 3/27/23)

    Total calculated
    $0
    Hours/week
    0.75 + 0.75 related

  • Bob Thompson

    SEC'Y, LAKE ANNE (TO 10/18/23)

    Total calculated
    $0
    Hours/week
    0.38 + 0.38 related

  • Michael Scheurer

    VICE PRESIDENT, FSF (TO 3/11/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Greenwood

    DIRECTOR, FSF

    Total calculated
    $0
    Hours/week
    0.75

  • Robert Sargeant

    DIRECTOR, FSF

    Total calculated
    $0
    Hours/week
    0.75

  • Dr Shontay Kincaid

    DIR, FSF, PRES. LARGO LANDING

    Total calculated
    $0
    Hours/week
    0.75 + 0.75 related

  • Kathleen Harding

    DIR., FSF, PRES, LAKE RIDG

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mark Fleming

    VICE PRES., FSF (AS OF 3/27/23)

    Total calculated
    $0
    Hours/week
    0.75 + 0.75 related

  • John Kelly

    DIRECTOR, FSF

    Total calculated
    $0
    Hours/week
    0.75

  • Thomas J Van Lierde

    DIRECTOR, FSF

    Total calculated
    $0
    Hours/week
    0.75

  • Kristin Norris

    SEC'Y, FSF (AS OF 3/27/23)

    Total calculated
    $0
    Hours/week
    0.75

  • Christina Zeitz

    CEO

    Total calculated
    $197,206
    From this org
    $172,731
    From related orgs
    $0
    Other
    $24,475
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $160,000
    Bonus
    $12,731
    Other
    $0
    Deferred
    $11,200
    Nontaxable benefits
    $13,275
    Filer's total
    $197,206

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE CEO WAS AWARDED A DISCRETIONARY BONUS BASED UPON A NUMBER OF CRITERIA WHICH INCLUDED BOTH FINANCIAL AND NON-FINANCIAL GOALS. THE EXECUTIVE COMMITTEE DECIDED ON AND APPROVED THE BONUS.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LAKE ANNE FELLOWSHIP HOUSE SECTION I

    RENTAL REAL ESTATE, LOW INCOME HOUSING · VA · income $40,449 · assets $1,157,934

    Directly controlled by FELLOWSHIP SQUARE FOUNDATION INC

  • LAKE ANNE FELLOWSHIP HOUSE SECTION II

    RENTAL REAL ESTATE, LOW INCOME HOUSING · VA · income $55,334 · assets $2,635,750

    Directly controlled by FELLOWSHIP SQUARE FOUNDATION INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • LAKE ANNE HOUSE DEVELOPMENT LLC

    RELATED · RENTAL REAL ESTATE, LOW INCOME HOUSING · VA · 35% owned · share of income -$1,031 · share of assets $503,186

Provenance

Return type
form_990
Tax year
2022
Filed
26 April 2024
IRS schema version
2022v5.0
Source object
202431179349301528

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