Civic Intelligence

Low Cost Tenants Association

990 • Fiscal year 2013 • EIN 04-3220310

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 03, 2014

163 W Springfield StreetBoston, MA 02118

(617) 247-1445

Siviq Scores

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

Liabilities / Assets

81st percentile

0.70x

Higher debt load relative to assets than 81% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

99th percentile

52.58x

Higher debt load relative to revenue than 99% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Net Margin

87th percentile

39%

Higher net margin than 87% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Asset Growth

38th percentile

0.8%

Faster asset growth than 38% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

76th percentile

20%

Faster revenue growth than 76% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Assets

Up

$11,811,735

Up $90,254 (+0.8%) from 2012

Net Assets

Up

$3,539,637

Up $135,544 (+4.0%) from 2012

Liabilities

Down

$8,272,098

Down $45,290 (-0.5%) from 2012

Revenue

Up

$157,324

Up $25,919 (+20%) from 2012

Expenses

Down

$95,344

Down $652 (-0.7%) from 2012

Net Income

Up

$61,980

Up $26,571 (+75%) from 2012

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $3,587,230Liabilities 2010: $227,416Net Assets 2010: $3,359,8142010Assets 2011: $11,494,356Liabilities 2011: $8,193,839Net Assets 2011: $3,300,5172011Assets 2012: $11,721,481Liabilities 2012: $8,317,388Net Assets 2012: $3,404,0932012Assets 2013: $11,811,735Liabilities 2013: $8,272,098Net Assets 2013: $3,539,6372013Assets 2014: $11,808,968Liabilities 2014: $8,380,809Net Assets 2014: $3,428,1592014Assets 2015: $11,698,291Liabilities 2015: $8,386,713Net Assets 2015: $3,311,5782015Assets 2016: $11,961,485Liabilities 2016: $8,240,289Net Assets 2016: $3,721,1962016Assets 2017: $12,299,052Liabilities 2017: $8,270,182Net Assets 2017: $4,028,8702017Assets 2018: $12,510,065Liabilities 2018: $8,308,148Net Assets 2018: $4,201,9172018Assets 2019: $12,619,310Liabilities 2019: $8,717,206Net Assets 2019: $3,902,1042019Assets 2020: $12,885,184Liabilities 2020: $8,244,504Net Assets 2020: $4,640,6802020

Highlighted filing

2013

Assets$11,811,735
Liabilities$8,272,098
Net Assets$3,539,637

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2010: $106,108Expenses 2010: $58,084Net Income 2010: $48,0242010Expenses 2011: $97,8752011Revenue 2012: $131,405Expenses 2012: $95,996Net Income 2012: $35,4092012Revenue 2013: $157,324Expenses 2013: $95,344Net Income 2013: $61,9802013Revenue 2014: -$40,196Expenses 2014: $74,035Net Income 2014: -$114,2312014Revenue 2015: $30,703Expenses 2015: $92,193Net Income 2015: -$61,4902015Revenue 2016: $516,889Expenses 2016: $84,812Net Income 2016: $432,0772016Revenue 2017: $328,244Expenses 2017: $87,961Net Income 2017: $240,2832017Revenue 2018: $411,055Expenses 2018: $112,873Net Income 2018: $298,1822018Revenue 2019: $426,699Expenses 2019: $131,607Net Income 2019: $295,0922019Revenue 2020: $213,897Expenses 2020: $138,624Net Income 2020: $75,2732020

Highlighted filing

2013

Revenue$157,324
Expenses$95,344
Net Income$61,980
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 3, 2014
Return Version
2013v3.0
Gross Receipts
$1,726,961
Mission and Program Overview

Mission

To provide assistance in creating housing for low and middle income persons in the south end of boston

To provide affordable housing for persons of low and moderate income in the south end section of the city of boston

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,324,569$8,171,158▼ $153,411
Savings and Temporary Cash Investments$1,207,029$1,283,672▲ $76,643
Cash and Non-Interest-Bearing Accounts$1,109,268$1,052,906▼ $56,362
Investments in Publicly Traded Securities$731,397$921,660▲ $190,263
Accounts Receivable$82,935$116,314▲ $33,379
Total Assets$11,721,481$11,811,735▲ $90,254
Other Assets Total$266,283$266,025▼ $258
Liabilities
Other Liabilities$6,571,903$6,463,925▼ $107,978
Mortgage Notes Payable Secured by Investment Property$1,602,772$1,731,460▲ $128,688
Accounts Payable and Accrued Expenses$107,720$44,928▼ $62,792
Deferred Revenue$34,993$31,785▼ $3,208
Total Liabilities$8,317,388$8,272,098▼ $45,290
Net Assets / Fund Balance
Unrestricted Net Assets$3,081,540$3,231,745▲ $150,205
Temporarily Rstr Net Assets$322,553$307,892▼ $14,661
Total Net Assets Fund Balance$3,404,093$3,539,637▲ $135,544
Total Liabilities and Net Assets / Fund Balance$11,721,481$11,811,735▲ $90,254

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,153,365$191,846-
Land$1,017,793--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jean NianePresident
Ruby ColemanVice-president/treasurer
Arcenia AllenDirector
Crystal BeckDirector
Luis AmezquitaDirector
MURIEL O'NEILDirector
Marlene BaskervilleDirector
Maryline MuldrowDirector
Vera Lee LopezDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$860
Investment Income
$91,962
Other Revenue
$64,502
Change in Net Assets
$61,980
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$95,344
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
Fees for Services Accounting-$14,893-$14,893
Interest$14,662--$14,662
Office Expenses-$4,215-$4,215
Other Expenses$44,468$874-$874
Total Functional Expenses$59,130$36,214$0$95,344
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
Bonds Payable$6,438,408
Accrued Interest$25,517
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

The organization does not keep minutes for the meetings of committees with authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11

The president of the board of directors reviews the form 990 and presents a copy of the form 990 to the board for their review.

Form 990, Part VI, Section B, Line 15

The organization does not have any employees, therefore question 15 is not applicable.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial statemetns available to the public upon request.

Filing and Contact Details

Filer

EIN
04-3220310
Phone
6172471445

Signing Officer

Name
Ruby Coleman
Title
President
Phone
6172471445
Signed
2014-11-03

Organization Details

Principal Officer
Jean Niane
Formed
1994
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Preparer
Kristoffer Lane
Phone
6172629898
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, and is exempt from state income taxes under chapter 180 of the massachusetts general laws. Unrelated business income, of which there was none for 2013, would be subject to federal and state income taxes. Consequently, the accompanying financial statements do not reflect any provision for income taxes. The organization evaluates tax positions taken or expected to be taken in its tax returns to determine whether the tax positions are more-likely-than-not of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold, along with accrued interest and penalty thereon would be recorded as an expense in the current year financial statements. At december 31, 2013, the organization believes that it has no uncertain tax positions within any of its open tax years.

Raw XML AppendixShowing 400 of 439 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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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt029117
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt024566
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IRS990ScheduleA/PublicSupportPY509Pct00.69880
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsPY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt085030
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0133222
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0114459
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0163290
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0382994
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0191846
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt01017793
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt125517
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BONDS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS EXEMPT FROM STATE INCOME TAXES UNDER CHAPTER 180 OF THE MASSACHUSETTS GENERAL LAWS. UNRELATED BUSINESS INCOME, OF WHICH THERE WAS NONE FOR 2013, WOULD BE SUBJECT TO FEDERAL AND STATE INCOME TAXES. CONSEQUENTLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT ANY PROVISION FOR INCOME TAXES. THE ORGANIZATION EVALUATES TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN ITS TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE-LIKELY-THAN-NOT OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD, ALONG WITH ACCRUED INTEREST AND PENALTY THEREON WOULD BE RECORDED AS AN EXPENSE IN THE CURRENT YEAR FINANCIAL STATEMENTS. AT DECEMBER 31, 2013, THE ORGANIZATION BELIEVES THAT IT HAS NO UNCERTAIN TAX POSITIONS WITHIN ANY OF ITS OPEN TAX YEARS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalLiabilityAmt06463925
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT KEEP MINUTES FOR THE MEETINGS OF COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT OF THE BOARD OF DIRECTORS REVIEWS THE FORM 990 AND PRESENTS A COPY OF THE FORM 990 TO THE BOARD FOR THEIR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES, THEREFORE QUESTION 15 IS NOT APPLICABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMETNS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine10LOW COST TENANTS' ASSOCIATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine10BROWNSTONE APARTMENTS LLC CO LOW COST TENANTS' ASSOCIATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0452947587
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IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0AFFORDABLE HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt01501288
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine10163 WEST SPRINGFIELD ST
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/City0BOSTON
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/State0MA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCode002118
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02551201
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH TRANSACTION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine10BROWNSTONE APARTMENTS LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0D
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IRS990/SignificantChangeInd00
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt011721481
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt095344
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt08272098
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0156464
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotReportableCompRltdOrgAmt00
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