Civic Intelligence

Low Cost Tenants Association

990 • Fiscal year 2017 • EIN 04-3220310

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 20, 2018

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

0.67x

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

98th percentile

25.20x

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

96th percentile

73%

Higher net margin than 96% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

44th percentile

2.8%

Faster asset growth than 44% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

6th percentile

-36%

Faster revenue growth than 6% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$12,299,052

Up $337,567 (+2.8%) from 2016

Net Assets

Up

$4,028,870

Up $307,674 (+8.3%) from 2016

Liabilities

Up

$8,270,182

Up $29,893 (+0.4%) from 2016

Revenue

Down

$328,244

Down $188,645 (-36%) from 2016

Expenses

Up

$87,961

Up $3,149 (+3.7%) from 2016

Net Income

Down

$240,283

Down $191,794 (-44%) from 2016

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

2017

Assets$12,299,052
Liabilities$8,270,182
Net Assets$4,028,870

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

2017

Revenue$328,244
Expenses$87,961
Net Income$240,283
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 20, 2018
Return Version
2017v2.3
Gross Receipts
$2,584,666
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$7,682,487$7,520,391▼ $162,096
Cash and Non-Interest-Bearing Accounts$1,712,869$2,035,857▲ $322,988
Savings and Temporary Cash Investments$1,463,508$1,555,714▲ $92,206
Investments in Publicly Traded Securities$884,003$961,424▲ $77,421
Accounts Receivable$161,157$216,877▲ $55,720
Prepaid Expenses and Deferred Charges$57,461$8,789▼ $48,672
Total Assets$11,961,485$12,299,052▲ $337,567
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,076,415$8,135,177▲ $58,762
Accounts Payable and Accrued Expenses$112,709$87,425▼ $25,284
Deferred Revenue$51,165$47,580▼ $3,585
Total Liabilities$8,240,289$8,270,182▲ $29,893
Net Assets / Fund Balance
Unrestricted Net Assets$3,457,289$3,779,625▲ $322,336
Temporarily Rstr Net Assets$263,907$249,245▼ $14,662
Total Net Assets Fund Balance$3,721,196$4,028,870▲ $307,674
Total Liabilities and Net Assets / Fund Balance$11,961,485$12,299,052▲ $337,567

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,502,598$935,889-
Land$1,017,793--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$74,720
Other Revenue
$253,524
Change in Net Assets
$240,283
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$87,961
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
Interest$14,662--$14,662
Fees for Services Accounting-$10,300-$10,300
Office Expenses-$674-$674
Other Expenses$275--$275
Total Functional Expenses$76,987$10,974$0$87,961
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
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 11B

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

Filer Name
Low Cost Tenants Association
EIN
04-3220310
Phone
6172471445
Address
163 W SPRINGFIELD STREET, BOSTON, MA 02118

Signing Officer

Name
Ruby Coleman
Title
Treasurer
Phone
6172471445
Signed
2018-09-20

Organization Details

Principal Officer
Jean Niane
Formed
1994
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Daniel Dennis & Company Llp
Address
990 WASHINGTON STREET SUITE 308A, DEDHAM, MA 02026
Preparer
Andy Bacigalupo CPA
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 2017, 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, 2017, the organization believes that it has no uncertain tax positions within any of its open tax years.

Raw XML AppendixShowing 400 of 409 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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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 2017, 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, 2017, THE ORGANIZATION BELIEVES THAT IT HAS NO UNCERTAIN TAX POSITIONS WITHIN ANY OF ITS OPEN TAX YEARS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07520391
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 11B
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/BusinessNameLine1Txt0LOW COST TENANTS' ASSOCIATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0BROWNSTONE APARTMENTS LLC CO LOW COST TENANTS' ASSOCIATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0452947587
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt011139179
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0AFFORDABLE HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt02192979
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0163 WEST SPRINGFIELD ST
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0BOSTON
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd002118
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt03225459
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0BROWNSTONE APARTMENTS LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0D
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0263907
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0249245
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt011961485
IRS990/TotalAssetsEOYAmt012299052
IRS990/TotalAssetsGrp/BOYAmt011961485
IRS990/TotalAssetsGrp/EOYAmt012299052
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010974
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt076987
IRS990/TotalFunctionalExpensesGrp/TotalAmt087961
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08240289
IRS990/TotalLiabilitiesEOYAmt08270182
IRS990/TotalLiabilitiesGrp/BOYAmt08240289
IRS990/TotalLiabilitiesGrp/EOYAmt08270182
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03721196
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04028870
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt076987
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0328244
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0328244
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011961485
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012299052
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03457289
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03779625
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0163 W SPRINGFIELD STREET
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002118
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RUBY COLEMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06172471445
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOW COST TENANTS ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0LOWC
ReturnHeader/Filer/EIN0043220310
ReturnHeader/Filer/PhoneNum06172471445
ReturnHeader/Filer/USAddress/AddressLine1Txt0163 W SPRINGFIELD STREET
ReturnHeader/Filer/USAddress/CityNm0BOSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002118
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FE172717639EBA20691543921D10F06B6743D90D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0FE172717639EBA20691543921D10F06B6743D90D
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0104.247.61.254
ReturnHeader/FilingSecurityInformation/IPDt02018-09-20
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm008:20:35
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042734675
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DANIEL DENNIS & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0990 WASHINGTON STREET SUITE 308A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DEDHAM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA

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