Civic Intelligence

Mha Merton House LLC

990 • Fiscal year 2016 • EIN 01-0864466

Jan 01, 2016 to Dec 31, 2016 • Filed on May 05, 2017

434 Maplewood AvenueBridgeport, CT 06605

(203) 359-6940

Siviq Scores

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

Liabilities / Assets

96th percentile

1.32x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

20.52x

Higher debt load relative to revenue than 98% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

3rd percentile

-107%

Higher net margin than 3% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

74th percentile

$188,280

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 48.9% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

25th percentile

-3.4%

Faster asset growth than 25% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

26th percentile

-6.9%

Faster revenue growth than 26% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Down

$5,968,635

Down $207,994 (-3.4%) from 2015

Net Assets

Down

-$1,923,652

Down $411,790 (-27%) from 2015

Liabilities

Up

$7,892,287

Up $203,796 (+2.7%) from 2015

Revenue

Down

$384,654

Down $28,718 (-6.9%) from 2015

Expenses

Down

$796,444

Down $18,165 (-2.2%) from 2015

Net Income

Down

-$411,790

Down $10,553 (-2.6%) from 2015

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0M-$10MAssets 2013: $6,594,324Liabilities 2013: $7,353,329Net Assets 2013: -$759,0052013Assets 2014: $6,424,405Liabilities 2014: $7,535,030Net Assets 2014: -$1,110,6252014Assets 2015: $6,176,629Liabilities 2015: $7,688,491Net Assets 2015: -$1,511,8622015Assets 2016: $5,968,635Liabilities 2016: $7,892,287Net Assets 2016: -$1,923,6522016Assets 2017: $5,733,601Liabilities 2017: $8,080,881Net Assets 2017: -$2,347,2802017Assets 2018: $5,504,109Liabilities 2018: $8,285,920Net Assets 2018: -$2,781,8112018Assets 2019: $5,288,654Liabilities 2019: $8,505,661Net Assets 2019: -$3,217,0072019Assets 2020: $5,033,711Liabilities 2020: $8,680,130Net Assets 2020: -$3,646,4192020Assets 2021: $4,808,365Liabilities 2021: $8,878,475Net Assets 2021: -$4,070,1102021Assets 2022: $4,612,919Liabilities 2022: $9,107,244Net Assets 2022: -$4,494,3252022Assets 2023: $4,383,861Liabilities 2023: $9,348,652Net Assets 2023: -$4,964,7912023Assets 2024: $4,184,162Liabilities 2024: $9,597,718Net Assets 2024: -$5,413,5562024

Highlighted filing

2016

Assets$5,968,635
Liabilities$7,892,287
Net Assets-$1,923,652

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2013: $490,405Expenses 2013: $784,374Net Income 2013: -$293,9692013Revenue 2014: $423,420Expenses 2014: $775,040Net Income 2014: -$351,6202014Revenue 2015: $413,372Expenses 2015: $814,609Net Income 2015: -$401,2372015Revenue 2016: $384,654Expenses 2016: $796,444Net Income 2016: -$411,7902016Revenue 2017: $403,785Expenses 2017: $827,413Net Income 2017: -$423,6282017Revenue 2018: $420,258Expenses 2018: $854,789Net Income 2018: -$434,5312018Revenue 2019: $412,165Expenses 2019: $847,361Net Income 2019: -$435,1962019Revenue 2020: $418,920Expenses 2020: $848,332Net Income 2020: -$429,4122020Revenue 2021: $513,706Expenses 2021: $937,397Net Income 2021: -$423,6912021Revenue 2022: $436,970Expenses 2022: $861,185Net Income 2022: -$424,2152022Revenue 2023: $468,475Expenses 2023: $938,941Net Income 2023: -$470,4662023Revenue 2024: $471,574Expenses 2024: $920,339Net Income 2024: -$448,7652024

Highlighted filing

2016

Revenue$384,654
Expenses$796,444
Net Income-$411,790
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 5, 2017
Return Version
2016v3.0
Gross Receipts
$384,654
Mission and Program Overview

Mission

A wholly-owned subsidiary of mutual housing association of southwestern connecticut, inc., which was created to develop and then operate a residential housing project complex of 22 units in bridgeport, ct. The development provides housing for low income families and women coming out of foster care.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,596,232$5,355,036▼ $241,196
Savings and Temporary Cash Investments$273,906$309,837▲ $35,931
Cash and Non-Interest-Bearing Accounts$100,953$103,553▲ $2,600
Intangible Assets$69,729$67,737▼ $1,992
Accounts Receivable$7,006$4,921▼ $2,085
Prepaid Expenses and Deferred Charges$2,794$2,875▲ $81
Total Assets$6,176,629$5,968,635▼ $207,994
Other Assets Total$126,009$124,676▼ $1,333
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,575,121$6,575,120▼ $1
Accounts Payable and Accrued Expenses$1,107,089$1,310,453▲ $203,364
Escrow Account Liability$5,641$6,314▲ $673
Other Liabilities$400$400→ $0
Deferred Revenue$240--
Total Liabilities$7,688,491$7,892,287▲ $203,796
Net Assets / Fund Balance
Unrestricted Net Assets$-1,511,862$-1,923,652▼ $411,790
Total Net Assets Fund Balance$-1,511,862$-1,923,652▼ $411,790
Total Liabilities and Net Assets / Fund Balance$6,176,629$5,968,635▼ $207,994

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,355,036$1,495,722$6,850,758
Compensation and Service Providers

Employees

NameTitleOtherTotal
Renee DobosExecutive Di$188,280$188,280
Marie LapointeDirector of$106,250$106,250
Selvin OsbourneCFO$90,981$90,981

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$316,944
Program Service Revenue
$66,621
Investment Income
$1,089
Other Revenue
$0
Change in Net Assets
$-411,790

Audited Revenue Reconciliation

Revenue per Audited Statements
$384,654
Total Revenue per Audited Statements
$384,654
Total Revenue per Form 990
$384,654
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$796,444
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$445,145--$445,145
Depreciation Depletion$252,582--$252,582
Fees for Services Other$56,870--$56,870
Fees for Services Management$20,448--$20,448
Fees for Services Accounting$11,376--$11,376
Office Expenses$7,203--$7,203
Fees for Services Legal$1,507--$1,507
Other Expenses$924--$924
Insurance$389--$389
Total Functional Expenses$796,444$0$0$796,444

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$796,444
Total Expenses per Audited Statements$796,444
Total Expenses per Form 990$796,444
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Miscellaneous Long-term Liabilities$400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The company has entered into a management agreement with mutual housing association of southwestern connecticut, inc. (mha). The agreement provides for a fee equal to 5% of monthly total income. The agreement expires upon written agreement of both parties. The company has contracted with mha for resident management services relating to tenant applications, recertifications, and compliance with guidelines of various government agencies.

Form 990, Page 6, Part VI, Line 11B

The tax return is reviewed by management and the treasurer prior to filing. The final return is made available for review to all members of the board of directors.

Form 990, Page 6, Part VI, Line 12C

The executive director of the association monitors all transactions for potential conflicts of interest that have been disclosed by board members and discloses potential issues to the board president in order to resolve potential conflicts. For each interest disclosed, the board president will determine whether to: (a) take no action; (b) assure full disclosure to the board of directors and other individuals covered by this policy; (c) ask the person to refrain from participation in related discussions or decisions within the association; or (d) ask the person to resign from his or her position in the association, or, if the person refuses to resign, become subject to possible removal in accordance with the association's removal procedures.

Form 990, Page 6, Part VI, Line 19

Financial statements are available upon request and tax returns can be viewed on the guidestar website.

Filing and Contact Details

Filer

Filer Name
Mha Merton House LLC
EIN
01-0864466
Phone
2033596940
Address
434 MAPLEWOOD AVENUE, BRIDGEPORT, CT 06605

Signing Officer

Name
Renee Dobos
Title
Executive Director
Phone
2033596940
Signed
2017-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Renee Dobos
Formed
2006
Legal Domicile
Ct
Voting Board Members
13
Independent Board Members
13
Employees
0

Preparer

Firm
Guyder Hurley Pc
Address
100 GRANDVIEW RD STE 320, BRAINTREE, MA 02184-2691
Preparer
J Thomas Hurley
Phone
6173766226
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

A wholly-owned subsidiary of mutual housing association of southwestern connecticut, inc., which was created to develop and then operate a residential housing project complex of 22 units in bridgeport, ct. The development provides housing for low income families and women coming out of foster care.

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The escrow account liability on part x line 21 consists of tenant security deposits which are held in a separate bank account. The deposits are returned to the tenant upon termination of the lease.

Schedule D, Page 3, Part X

The preparation of financial statements in conformity with accounting principles generally accepted in the united states of america requires the company to report information regarding its exposure to various tax positions taken by the company. The company has determined whether any tax positions have met the recognition threshold and have measured the company's exposure to those tax positions. Management believes that the company has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Management believes that the company has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed. The open tax years are years ended 2013 through 2015. Any interest or penalties assessed to the company are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.

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IRS990/MissionDesc0A WHOLLY-OWNED SUBSIDIARY OF MUTUAL HOUSING ASSOCIATION OF SOUTHWESTERN CONNECTICUT, INC., WHICH WAS CREATED TO DEVELOP AND THEN OPERATE A RESIDENTIAL HOUSING PROJECT COMPLEX OF 22 UNITS IN BRIDGEPORT, CT. THE DEVELOPMENT PROVIDES HOUSING FOR LOW INCOME FAMILIES AND WOMEN COMING OUT OF FOSTER CARE.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ESCROW ACCOUNT LIABILITY ON PART X LINE 21 CONSISTS OF TENANT SECURITY DEPOSITS WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE RETURNED TO THE TENANT UPON TERMINATION OF THE LEASE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE COMPANY TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE COMPANY. THE COMPANY HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAVE MEASURED THE COMPANY'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE COMPANY HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. MANAGEMENT BELIEVES THAT THE COMPANY HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. THE OPEN TAX YEARS ARE YEARS ENDED 2013 THROUGH 2015. ANY INTEREST OR PENALTIES ASSESSED TO THE COMPANY ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
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