Civic Intelligence

Phelps Foundation

990 • Fiscal year 2023 • EIN 85-0615136

Jan 01, 2023 to Dec 31, 2023 • Filed on May 13, 2024

Organization ProfileN/A
18846 W Seven Mile RdDetroit, MI 48219

(313) 779-9531

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.31x

Higher debt load relative to assets than 87% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

0.36x

Higher debt load relative to revenue than 90% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

91st percentile

52%

Higher net margin than 91% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

92nd percentile

102%

Faster asset growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

955%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$277,717

Up $140,350 (+102%) from 2022

Net Assets

Up

$190,647

Up $53,280 (+39%) from 2022

Liabilities

Up

$87,070

Up $87,070 from 2022

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin91st percentile

Revenue

Up

$243,109

Up $220,076 (+955%) from 2022

Expenses

Up

$117,756

Up $93,558 (+387%) from 2022

Net Income

Up

$125,353

Up $126,518 (+10860%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2020: $142,381Liabilities 2020: $0Net Assets 2020: $142,3812020Assets 2021: $138,532Liabilities 2021: $0Net Assets 2021: $138,5322021Assets 2022: $137,367Liabilities 2022: $0Net Assets 2022: $137,3672022Assets 2023: $277,717Liabilities 2023: $87,070Net Assets 2023: $190,6472023Assets 2024: $277,545Liabilities 2024: $87,070Net Assets 2024: $190,4752024

Highlighted filing

2023

Assets$277,717
Liabilities$87,070
Net Assets$190,647
Open 2023 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2020: $187,796Expenses 2020: $45,415Net Income 2020: $142,3812020Revenue 2021: $49,700Expenses 2021: $53,549Net Income 2021: -$3,8492021Revenue 2022: $23,033Expenses 2022: $24,198Net Income 2022: -$1,1652022Revenue 2023: $243,109Expenses 2023: $117,756Net Income 2023: $125,3532023Revenue 2024: $16,719Expenses 2024: $23,136Net Income 2024: -$6,4172024

Highlighted filing

2023

Revenue$243,109
Expenses$117,756
Net Income$125,353
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 13, 2024
Return Version
2023v5.0
Gross Receipts
$243,109
Mission and Program Overview

Mission

We strive to help the homeless and veteran communities by providing affordable rental housing with a focus on individuals and families currently in shelters.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$134,131$277,000▲ $142,869
Rtn Earn Endowment Incm Other Fnds$137,367$187,511▲ $50,144
Pd in Cap Srpls Land Bldg Eqp Fund-$3,136-
Cash and Non-Interest-Bearing Accounts$3,001$482▼ $2,519
Savings and Temporary Cash Investments$235$235→ $0
Total Assets$137,367$277,717▲ $140,350
Liabilities
Mortgage Notes Payable Secured by Investment Property-$87,070-
Total Liabilities$0$87,070▲ $87,070
Net Assets / Fund Balance
Total Net Assets Fund Balance$137,367$190,647▲ $53,280
Total Liabilities and Net Assets / Fund Balance$137,367$277,717▲ $140,350

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$215,600-$215,600
Land$61,400-$61,400
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Carmen PhelpsChairman
McKinley PhelpsDirector
Renee BryantDirector
Wallace PhelpsDirector
Christopher DunnAsset Manager
Odessa JonesSecretary
Theresa PhelpsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$242,188
Program Service Revenue
$921
Investment Income
$0
Other Revenue
$0
All Other Contributions
$236,907
Change in Net Assets
$125,353

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$134,000Fair Market Value
Other Non Cash Contri Table2$72,726Customary Rates
Other Non Cash Contri Table1$1,290Retail Value
Total Noncash Contributions4$208,016-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$117,756
Total Fundraising Expense$560
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting$0$70,516$0$70,516
All Other Expenses$27,840$8,896$0$36,736
Depreciation Depletion$6,127$0$0$6,127
Office Expenses$0$2,677$560$3,237
Conferences and Meetings$0$1,140$0$1,140
Total Functional Expenses$33,967$83,229$560$117,756
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Phelps Foundation
EIN
85-0615136
Phone
3137799531
Address
18846 W SEVEN MILE RD, DETROIT, MI 48219

Signing Officer

Name
Wallace Phelps
Title
Director
Phone
3137799531
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Formed
2020
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Moultrie Bookkeeping LLC
Address
3925 Legend Pond, New Braunfels, TX 78130
Preparer
Desiree Moultrie
Phone
8303088530
Supplemental Narrative

Additional Explanations

Pt III, Line 2

“Organization began in 2020 no prior year info.”

Pt V, Line 3B

“No unrelated business gross income for 2020.”

Pt V, Line 13A

“Organization is not a health insurance provider.”

Pt V, Line 14B

“Organization does not have indoor tanning services.”

Pt VI, Line 1A

“The organization has eight voting members. The officers listed on the return.”

Pt VII, Col (E)

“All officers help on a volunteer basis, no compensation received.”

Pt VIII

“Organization received cash and non cash contributions of property to renovate for affordable housing.”

Pt VI, Line 2

“The Phelps Foundation is a family operated non profit to help with homelessness.”

Pt VI, Line 11B

“Organization will have a general meeting to review the 990 details.”

Form 990, Part IX, Line 24E

“Bank charges 120. 0. 120. 0.”

Form 990, Part IX, Line 24E

“Mortgage expenses 8728. 8728. 0. 0.”

Form 990, Part IX, Line 24E

“Maintenance and repairs 3700. 3700. 0. 0.”

Form 990, Part IX, Line 24E

“Utilities 15496. 9900. 5596. 0.”

Form 990, Part IX, Line 24E

“Property taxes 5244. 2064. 3180. 0.”

Form 990, Part IX, Line 24E

“Storage 2348. 2348. 0. 0.”

Form 990, Part IX, Line 24E

“Property inspections 1100. 1100. 0. 0.”

Raw XML Appendix372 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Organization began in 2020 no prior year info.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No unrelated business gross income for 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Organization is not a health insurance provider.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Organization does not have indoor tanning services.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization has eight voting members. The officers listed on the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5All officers help on a volunteer basis, no compensation received.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Organization received cash and non cash contributions of property to renovate for affordable housing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The Phelps Foundation is a family operated non profit to help with homelessness.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Organization will have a general meeting to review the 990 details.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9BANK CHARGES 120. 0. 120. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10MORTGAGE EXPENSES 8728. 8728. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11MAINTENANCE AND REPAIRS 3700. 3700. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12UTILITIES 15496. 9900. 5596. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13PROPERTY TAXES 5244. 2064. 3180. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14STORAGE 2348. 2348. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15PROPERTY INSPECTIONS 1100. 1100. 0. 0.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt V, Line 14b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 1a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VII, Col (E)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VIII
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15Form 990, Part IX, Line 24e
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0137367
IRS990/TotalAssetsEOYAmt0277717
IRS990/TotalAssetsGrp/BOYAmt0137367
IRS990/TotalAssetsGrp/EOYAmt0277717
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0242188
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0560
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt083229
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt033967
IRS990/TotalFunctionalExpensesGrp/TotalAmt0117756
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt087070
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt087070
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0137367
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0190647
IRS990/TotalProgramServiceExpensesAmt033967
IRS990/TotalProgramServiceRevenueAmt0921
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0921
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0243109
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0137367
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0277717
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt018846 W SEVEN MILE RD
IRS990/USAddress/CityNm0DETROIT
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048219
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WALLACE PHELPS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03137799531
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PHELPS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0PHEL
ReturnHeader/Filer/EIN0850615136
ReturnHeader/Filer/PhoneNum03137799531
ReturnHeader/Filer/USAddress/AddressLine1Txt018846 W SEVEN MILE RD
ReturnHeader/Filer/USAddress/CityNm0DETROIT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048219
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0842537060
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Moultrie Bookkeeping LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03925 Legend Pond
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New Braunfels
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078130
ReturnHeader/PreparerPersonGrp/PhoneNum08303088530
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DESIREE MOULTRIE
ReturnHeader/ReturnTs02024-05-14T18:09:07-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WALLACE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PHELPS
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$277,717
Liabilities
$87,070
Net assets
$190,647
Revenue
$243,109
Expenses
$117,756
Net income
$125,353
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.78$0.87$1.90$0.17$0.23$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.78$0.87$1.91$2.43$1.18$1.25
2022Detailed filing. Detailed filing data is available for this year.$1.37$0.00$1.37$0.23$0.24$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$0.50$0.54$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.42$0.00$1.42$1.88$0.45$1.42