Civic Intelligence

Wchr Securities Inc

990 • Fiscal year 2013 • EIN 04-3238757

Jan 01, 2013 to Dec 31, 2013 • Filed on May 01, 2014

Organization ProfileWWW.WCHR.ORG
11 Pleasant Street No 300Worcester, MA 01609

(508) 799-0322

Siviq Scores

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

Liabilities / Assets

79th percentile

0.72x

Higher debt load relative to assets than 79% of similar nonprofits.

2013 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

72nd percentile

4.83x

Higher debt load relative to revenue than 72% of similar nonprofits.

2013 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2013

Net Margin

70th percentile

62%

Higher net margin than 70% of similar nonprofits.

2013 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2013 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2013

Asset Growth

65th percentile

1.2%

Faster asset growth than 65% of similar nonprofits.

2013 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$3,437,825

Up $41,549 (+1.2%) from 2012

Net Assets

Up

$973,105

Up $102,997 (+12%) from 2012

Liabilities

Down

$2,464,720

Down $61,448 (-2.4%) from 2012

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin70th percentile

Revenue

$510,148

No earlier filing loaded for comparison.

Expenses

Up

$192,097

Up $86,798 (+82%) from 2012

Net Income

$318,051

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,651,149Liabilities 2011: $2,010,990Net Assets 2011: $640,1592011Assets 2012: $3,396,276Liabilities 2012: $2,526,168Net Assets 2012: $870,1082012Assets 2013: $3,437,825Liabilities 2013: $2,464,720Net Assets 2013: $973,1052013Assets 2014: $3,605,885Liabilities 2014: $2,301,184Net Assets 2014: $1,304,7012014Assets 2015: $3,070,719Liabilities 2015: $2,220,152Net Assets 2015: $850,5672015Assets 2016: $3,266,057Liabilities 2016: $2,379,921Net Assets 2016: $886,1362016Assets 2017: $3,318,492Liabilities 2017: $2,347,709Net Assets 2017: $970,7832017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2013

Assets$3,437,825
Liabilities$2,464,720
Net Assets$973,105
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0Expenses 2011: $223,2792011Expenses 2012: $105,2992012Revenue 2013: $510,148Expenses 2013: $192,097Net Income 2013: $318,0512013Revenue 2014: $422,785Expenses 2014: $91,189Net Income 2014: $331,5962014Revenue 2015: $146,716Expenses 2015: $92,577Net Income 2015: $54,1392015Revenue 2016: $98,715Expenses 2016: $63,146Net Income 2016: $35,5692016Revenue 2017: $127,548Expenses 2017: $42,901Net Income 2017: $84,6472017Revenue 2018: $0Expenses 2018: $0Net Income 2018: $02018

Highlighted filing

2013

Revenue$510,148
Expenses$192,097
Net Income$318,051
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 1, 2014
Return Version
2013v3.0
Gross Receipts
$510,148
Mission and Program Overview

Mission

Funds are loaned to qualified individuals and small business in worcester county for housing rehab. And business development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,143,088$1,963,220▼ $179,868
Savings and Temporary Cash Investments$1,100,388$1,474,605▲ $374,217
Total Assets$3,396,276$3,437,825▲ $41,549
Other Assets Total$152,800$0▼ $152,800
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,500,079$2,436,953▼ $63,126
Accounts Payable and Accrued Expenses$26,089$27,767▲ $1,678
Total Liabilities$2,526,168$2,464,720▼ $61,448
Net Assets / Fund Balance
Temporarily Rstr Net Assets$870,108$973,105▲ $102,997
Total Net Assets Fund Balance$870,108$973,105▲ $102,997
Total Liabilities and Net Assets / Fund Balance$3,396,276$3,437,825▲ $41,549
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
George CoxPresident/director
Elizabeth SanningVice President/director
Clara SavageClerk/director
Donna SalvidioClerk/director
Gary MacconnellClerk/director
Ginger NavickasClerk/director
John FoleyClerk/director
Karen CarreiroClerk/director
Keith NisbetClerk/director
Kenneth MudieClerk/director
Kwasi SarpongClerk/director
Lynda ManahanClerk/director
Michael MalloyClerk/director
Paul StrnisteClerk/director
Richard LeahyClerk/director
Susan SimeoneClerk/director
Walter OhanianClerk/director
James HayesTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$393,004
Program Service Revenue
$115,443
Investment Income
$0
Other Revenue
$1,701
All Other Contributions
$18,004
Change in Net Assets
$318,051

Audited Revenue Reconciliation

Revenue per Audited Statements
$510,148
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$134,086
Total Revenue per Audited Statements
$644,234
Total Revenue per Form 990
$510,148
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$192,097
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---$48,734
Other Expenses---$8,402
Fees for Services Legal---$875
Total Functional Expenses$0$0$0$192,097

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$192,097
Total Expenses per Audited Statements$192,097
Total Expenses per Form 990$192,097
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The board of directors receives the completed form 990 to review and the board submits comments and questions. Once the questions are adequately addressed the board approves the 990.”

Form 990, Part VI, Section B, Line 12C

“The board reviews and monitors the conflict issues regarding trustees.”

Form 990, Part VI, Section C, Line 19

“Governing documents are available upon request during normal business hours at the organizations place of business.”

Filing and Contact Details

Filer

EIN
04-3238757
Phone
5087990322

Signing Officer

Name
George Cox
Title
President
Phone
5087990322
Signed
2014-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Cox
Formed
1994
Legal Domicile
Ma
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
0

Preparer

Preparer
Michael E Houssan
Phone
5087919501
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Other adjustments -215,054.”

Part 12, Part XII, Financial Statements & and Reporting Question 2

“The audit committee is charged with the oversight and governance of the audit”

Financial Statement Notes

PART X, LINE 2:

“The fasb issued asc 740-10, income taxes, based on fin 48, accounting for uncertainty in income taxes as an interpretation of fasb statement no. 109. Asc 740-10 clarifies the accounting for uncertainty in income taxes recognized in an entitys financial statements in accordance with statement of financial accounting standards no. 109, accounting for income taxes. Asc 740-10 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position or expected to be taken in a tax return. In addition, asc 740-10 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of december 31, 2013, the organization does not have any material tax positions that require disclosure or recognition.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Net assets released from restrictions 134,086.”

Raw XML AppendixShowing 400 of 426 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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IRS990/PYTotalExpensesAmt0105299
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0439645
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0318051
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01100388
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01474605
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0192097
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherRevenueAmt0134086
IRS990ScheduleD/RevenueNotReportedAmt0134086
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0510148
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FASB ISSUED ASC 740-10, INCOME TAXES, BASED ON FIN 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AS AN INTERPRETATION OF FASB STATEMENT NO. 109. ASC 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITYS FINANCIAL STATEMENTS IN ACCORDANCE WITH STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 109, ACCOUNTING FOR INCOME TAXES. ASC 740-10 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION OR EXPECTED TO BE TAKEN IN A TAX RETURN. IN ADDITION, ASC 740-10 PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2013, THE ORGANIZATION DOES NOT HAVE ANY MATERIAL TAX POSITIONS THAT REQUIRE DISCLOSURE OR RECOGNITION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1NET ASSETS RELEASED FROM RESTRICTIONS 134,086.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0192097
IRS990ScheduleD/TotalRevenuePerForm990Amt0510148
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0644234
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0192097
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS RECEIVES THE COMPLETED FORM 990 TO REVIEW AND THE BOARD SUBMITS COMMENTS AND QUESTIONS. ONCE THE QUESTIONS ARE ADEQUATELY ADDRESSED THE BOARD APPROVES THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS AND MONITORS THE CONFLICT ISSUES REGARDING TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST DURING NORMAL BUSINESS HOURS AT THE ORGANIZATIONS PLACE OF BUSINESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER ADJUSTMENTS -215,054.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE AUDIT COMMITTEE IS CHARGED WITH THE OVERSIGHT AND GOVERNANCE OF THE AUDIT
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART 12, PART XII, FINANCIAL STATEMENTS & AND REPORTING QUESTION 2
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10WORCESTER COMMUNITY HOUSING RESOURCE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0222719744
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROVIDE LOW INCOME HOUSING AND PROPERTY DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1011 PLEASANT STREET SUITE 300
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0WORCESTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode001609
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0870108
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0973105
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03396276
IRS990/TotalAssetsEOYAmt03437825
IRS990/TotalAssetsGrp/BOYAmt03396276
IRS990/TotalAssetsGrp/EOYAmt03437825
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0393004
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0192097
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02526168
IRS990/TotalLiabilitiesEOYAmt02464720
IRS990/TotalLiabilitiesGrp/BOYAmt02526168
IRS990/TotalLiabilitiesGrp/EOYAmt02464720
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0870108
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0973105
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0115443
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0117144
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0510148
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03396276
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03437825
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1011 PLEASANT STREET NO 300
IRS990/USAddress/City0WORCESTER
IRS990/USAddress/State0MA
IRS990/USAddress/ZIPCode001609
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0WWW.WCHR.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02015-11-30 17:44:51Z

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,437,825
Liabilities
$2,464,720
Net assets
$973,105
Revenue
$510,148
Expenses
$192,097
Net income
$318,051
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$3.32$2.35$0.97$0.13$0.04$0.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.27$2.38$0.89$0.10$0.06$0.04
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.07$2.22$0.85$0.15$0.09$0.05
2014Detailed filing. Detailed filing data is available for this year.$3.61$2.30$1.30$0.42$0.09$0.33
2013Detailed filing. Detailed filing data is available for this year.$3.44$2.46$0.97$0.51$0.19$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.40$2.53$0.87$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.65$2.01$0.64$0.22