Nonprofit · EIN 57-0952289
HUMANITIES FOUNDATION INC
Tax-exempt · CHARLESTON, SC 29403
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,783,948 | $2,399,397 | -$615,449 | $36,742,481 | $10,328,670 | $26,413,811 |
| December 31, 2023 | 990 | $3,953,328 | $2,071,498 | $1,881,830 | $33,784,327 | $6,755,067 | $27,029,260 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $644,482
- of which government grants
- $47,371
- Program service revenue
- $2,220,530
- Investment income
- -$1,081,064
- Net gain from sales of assets
- -$1,096,444
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $125,232
- Compensation of officers, directors and key employees
- $282,656
- Other salaries and wages
- $756,041
- Salaries, compensation and benefits (total)
- $1,263,194
- Professional fundraising fees
- $0
- Legal fees
- $15,465
- Accounting fees
- $273
- Occupancy
- $80,246
- Travel
- $78,742
- Depreciation
- $55,653
- Program services (functional)
- $1,893,117
- Management and general (functional)
- $446,262
- Fundraising (functional)
- $60,018
Balance sheet and other
- Total assets, start of year
- $33,784,327
- Total assets, end of year
- $36,742,481
- Total liabilities, end of year
- $10,328,670
- Net assets, end of year
- $26,413,811
- Land, buildings and equipment
- $1,005,926
- Net assets without donor restrictions
- $26,413,811
- Gross receipts
- $2,880,392
- Employees
- 17
- Volunteers
- 2,104
- Year formed
- 1992
- State of legal domicile
- GA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Cheryl Ferraro CPA | Treasurer/Secretary Trustee or director, Officer | 45 | $195,001 | $24,149 |
| Tracy T Doran | President Trustee or director, Officer | 40 | $87,655 | $19,914 |
| Anne Wyatt | Board Member Trustee or director | 1 | $0 | $0 |
| Patti Randinelli | Board Member Trustee or director | 1 | $0 | $0 |
| Melissa Maddox-Evans | Board Member Trustee or director | 1 | $0 | $0 |
| Elizabeth R Doran | Board Member Trustee or director | 1 | $0 | $0 |
| Robert LaChapelle | Board Member Trustee or director | 1 | $0 | $0 |
| Greg Brooks | Asst. Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Robert Doran | Board Member Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHERYL FERRARO CPA | SEC/TREASURE Trustee or director, Officer | 45 | $204,603 | $22,136 |
| TRACY T DORAN | PRESIDENT Trustee or director, Officer | 40 | $87,655 | $18,602 |
| ANNE WYATT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PATTI RANDINELLI | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MELISSA MADDOX-EVANS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ELIZABETH R DORAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ROBERT LACHAPELLE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| GREG BROOKS | SECRETARY Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 651 MEETING ST STE 101, CHARLESTON, SC 29403-7278
- Principal officer (990 for 2024)
- Cheryl Ferraro CPA, 651 Meeting Street, Charleston, SC 29403
- Signed the 990
- Cheryl Ferraro CPA, Treasurer/Secretary
- Phone
- (843) 856-4120
- Return prepared by
- Glaser and Company LLC
Mission
To develop the highest quality affordable and workforce housing possible while enhancing the lives of our residents and improving the communities in which we develop through affordability, education and advocacy.
Program accomplishments
- Affordable Housing Program: As a non-profit developer, Humanities Foundation plays a crucial role in facilitating affordable housing projects from inception to completion. Our organization serves various roles, ranging from general partner and managing member to developer, allowing us to access funds exclusively available to nonprofit entities. We provide essential financing to projects and collaborate with construction professionals, including engineers, architects, and builders, to realize affordable housing developments. Upon construction completion, Humanities Foundation engages professional management companies to handle property marketing, leasing, and maintenance. Affordable housing encompasses a broad spectrum of income levels and price ranges. What truly defines housing as "affordable" is the rent or mortgage payment relative to an individual or family's income. According to the federal government, rental housing is considered "affordable" if residents pay no more than 30 percent of their income on rent. Mortgage lenders generally evaluate a home's affordability when the mortgage payment does not exceed 35 percent of the borrower's income. In assessing affordability in relation to income, we employ the term "Area Median Income" (AMI), calculated and published annually by the U.S. Department of Housing and Urban Development (HUD). The term "median" indicates that half of all households in the area have income greater than this amount. The Humanities Foundation prioritizes affordable units for individuals with incomes within the 30% to 80% AMI range. This means that residents in our communities earn less than half of the average income compared to the entire regional population. AMI serves as the basis for calculating rental amounts according to the 30% of income standard for affordable housing. We utilize public and private partnerships to ensure that rent remains affordable and that construction and maintenance costs do not place a burden on our residents. Recognizing the need for supportive services, the Humanities Foundation has established a range of strategic partnerships to offer services such as health screenings, health education programs, after-school activities, youth summer camps, meals, on-site food banks, and community gardens. In our housing program, we've undertaken various projects: Magnolia 61: A 60-unit apartment complex designed for seniors aged 55 and older located at 1830 Magwood Drive, Charleston, SC. Hampton West Apartments: A 41-unit apartment development catering to seniors aged 55 and older with incomes at or below 100% of the area median income, situated at 554 Rutledge Avenue, Charleston, SC.Shady Grove Apartments: A 72-unit apartment complex constructed for seniors aged 62 and older with incomes 50% below the area median income, situated at 1725 Savage Road, Charleston, South Carolina. Seven Farms Apartments: A 72-unit apartment community created for families with incomes 50% below the area median income, situated at 305 Seven Farms Drive and Daniel Island Drive, Charleston, South Carolina. Ivy Ridge Apartments: A 72-unit apartment development designed for families with incomes 50% below the area median income, located at 2215 Greenridge Road, North Charleston, South Carolina. Pine Hill Apartments: A 72-unit apartment complex constructed for families with incomes 50% below the area median income, situated at 117 Yellow Jasmine Road, Orangeburg, South Carolina. Grandview Apartments: A 72-unit apartment building designed for seniors with incomes 50% below the area median income, located at 1850 Magwood Road, Charleston, South Carolina. Waterford Village: A 96-unit apartment development catering to families with incomes 50% below the area median income, situated at 61 Waterford Loop, Staunton, Virginia. Seven Farms Village: A 42-unit apartment building constructed for seniors with incomes 50% below the area median income, located at 305 Seven Farms Drive, Charleston, South Carolina. Arbor Hill Senior Apartments: A 56-unit apartment building created for seniors with incomes 50% below the area median income, situated at 388 East Shamrock, Pineville, Louisiana. Montague Terrace Apartments: A 96-unit apartment complex constructed for families with incomes 50% below the area median income, located at 28 Montague Court, Stuarts Draft, Virginia. Regent Park Apartments: A 72-unit apartment community designed for families with incomes 50% below the area median income, situated at 680 Windsor Lake Way, Columbia, South Carolina. The Gardens Senior Apartments: A 55-unit apartment building created for seniors with incomes 50% below the area median income, located at 4949 Hooper Road, Baton Rouge, Louisiana. Puddledock Place Apartments: An 84-unit apartment complex constructed for families with incomes 50% below the area median income, situated at 4270 Anne Terrace, Prince George, Virginia. Puddledock Place Apartments II: A 72-unit apartment development designed for families with incomes 50% below the area median income, located at 1955 Denmark Square, Prince George, Virginia.Ashleigh Place: An 80-unit apartment building constructed for seniors with incomes 50% and 60% below the area median income, located at Timber Trail Road, Richmond Hill, GA 31324. Cavalier Senior Apartments: An 80-unit apartment building designed for seniors with incomes 50% below the area median income, located at Cavalier Drive, Petersburg, Virginia. Mintbrook Senior Apartments: An 80-unit apartment building created for seniors with incomes 50% below the area median income, situated at 4475 Bacon Street, Bealton, Virginia. Cavalier Apartments II: A 66-unit apartment complex constructed for families with incomes 50% below the area median income, located at Cavalier Drive, Petersburg, Virginia.New Post Apartments: A 102-unit apartment development designed for families with incomes 50% below the area median income, situated at Fredericksburg, Virginia. Keswick Senior Apartments: A 100-unit apartment building for seniors with incomes ranging from 20% to 80% of the area median income and total project-wide income averaging 60% below the area median income, located in Spotsylvania,Virginia. Keswick Apartments I: A 120-unit apartment community for families with incomes ranging from 20% to 80% of the area median income and total project-wide income averaging 60% below the area median income, located in Spotsylvania,Virginia. Keswick Apartments II: A 116-unit apartment building for families with incomes ranging from 20% to 80% of the area median income and total project-wide income averaging 60% below the area median income, located in Spotsylvania,Virginia.Glenwood Ridge Apartments: An 82-unit apartment complex for families with incomes ranging from 20% to 80% of the area median income and total project-wide income averaging 60% below the area median income, located in Richmond, Virginia. Archer School Apartments: An 89-unit apartment complex currently under construction for seniors with incomes below 80% area median income in Charleston, South Carolina.Expenses $810,250 · revenue $2,058,852
- Affordable Housing Development: Our organization offers services that identify new opportunities for affordable housing and assess the feasibility of developments intended to benefit low-income families and seniors. Collaborating closely with our partners, Humanities Foundation actively pursues sites that qualify for Low-Income Housing Tax Credits (LIHTC). Through innovative funding strategies, we have harnessed resources such as Community Development Block Grants (CDBG), HOME funds, Federal Home Loan Bank funds, Lowcountry Housing Trust contributions, and other grants. These resources have enabled us to develop over 2,500 affordable housing units across South Carolina, Georgia, Louisiana, and Virginia.Expenses $621,067
- Shelternet Program: The Humanities Foundation's Shelternet program provides critical support to families and individuals facing crises or setbacks. By extending emergency financial assistance, we empower them to remain in their homes and safeguard vital utility services, including gas, electricity, and water. This initiative is targeted at recipients whose incomes fall below 50% of the area median income. To ensure the program's sustainability, Shelternet's operating costs are covered by the Foundation's operational funds. Since its inception, the program has assisted more than 55,000 individuals in their times of need.Expenses $128,604 · grants $54,146
- Resident Services and Marketplace Food Program: Our Marketplace program, operated in collaboration with strategic partners like local churches, school districts, food pantries, and community organizations, strives to alleviate food insecurity. Utilizing a fleet of five refrigerated cargo vans and coordinated efforts by dedicated staff, we distribute food to apartment residents, organize community distributions, and address food deserts. Since its launch in 2014, the program has delivered over 10 million pounds of fresh food, equivalent to one meal per pound. Additionally, we're actively expanding our Telemedicine program to bridge the gap caused by transportation challenges, enabling low-income seniors to connect with their healthcare providers through video services from the comfort of their homes.Our transportation services not only facilitate access to community events, health fairs, and educational programs but also foster a sense of camaraderie among residents during shopping trips. We take pride in offering after-school and summer programs that feature a diverse range of activities, including educational tours, arts and crafts, sports and recreation, entrepreneurship, technology workshops, and mentoring. These programs are a tribute to the memory of Reverend Clementa Pinckney, a fervent advocate for education and youth development. In response to the tragic events of 2015 at the Mother Emanuel AME Church in Charleston, SC, these initiatives stand as a testament to our commitment to community enrichment.In the wake of the COVID-19 pandemic that emerged in March 2020, the Humanities Foundation has intensified its resident services and community outreach efforts. To date, we've provided emergency financial assistance to more than 55,000 families, ensuring their access to utility services to prevent disconnection or eviction. Our Marketplace food pantry program has contributed to over 10 million distributed meals through more than 400 curbside food distributions. Furthermore, we've assisted residents with information about virtual healthcare options, financial support, and access to telecommunications for remote learning, acknowledging the evolving needs of our community.Expenses $333,196 · grants $71,086 · revenue $161,678
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 57-0952289
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L80Z)
- Assets (IRS master file)
- $36,742,481
- Income (IRS master file)
- $2,880,392
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,783,948 | $2,399,397 | $36,742,481 | XML |
| 990 | December 2023 | $3,953,328 | $2,071,498 | $33,784,327 | XML |
| 990 | December 2022 | $3,501,082 | $2,166,220 | $31,582,528 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 57-0952289).
Questions about HUMANITIES FOUNDATION INC
- What is the EIN of HUMANITIES FOUNDATION INC?
- The employer identification number (EIN) of HUMANITIES FOUNDATION INC is 57-0952289.
- Is HUMANITIES FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1992.
- Are donations to HUMANITIES FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does HUMANITIES FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HUMANITIES FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HUMANITIES FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of HUMANITIES FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names Cheryl Ferraro CPA.
- Who are the officers and directors of HUMANITIES FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 2 received compensation from the organization, the highest $195,001 (Cheryl Ferraro CPA, Treasurer/Secretary).
- How much revenue does HUMANITIES FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,783,948, expenses of $2,399,397 and total assets of $36,742,481 at year end.
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