Civic Intelligence

Wchr Securities Inc

990 • Fiscal year 2014 • EIN 04-3238757

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 22, 2015

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

76th percentile

0.64x

Higher debt load relative to assets than 76% of similar nonprofits.

2014 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

73rd percentile

5.44x

Higher debt load relative to revenue than 73% of similar nonprofits.

2014 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2014

Net Margin

73rd percentile

78%

Higher net margin than 73% of similar nonprofits.

2014 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2014 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2014

Asset Growth

80th percentile

4.9%

Faster asset growth than 80% of similar nonprofits.

2014 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

18th percentile

-17%

Faster revenue growth than 18% of similar nonprofits.

2014 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$3,605,885

Up $168,060 (+4.9%) from 2013

Net Assets

Up

$1,304,701

Up $331,596 (+34%) from 2013

Liabilities

Down

$2,301,184

Down $163,536 (-6.6%) from 2013

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin73rd percentile

Revenue

Down

$422,785

Down $87,363 (-17%) from 2013

Expenses

Down

$91,189

Down $100,908 (-53%) from 2013

Net Income

Up

$331,596

Up $13,545 (+4.3%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2014

Assets$3,605,885
Liabilities$2,301,184
Net Assets$1,304,701
Open 2014 Filing

Operations Trend

Revenue Growth18th percentile

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

2014

Revenue$422,785
Expenses$91,189
Net Income$331,596
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 22, 2015
Return Version
2014v5.0
Gross Receipts
$422,785
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$1,963,220$2,495,000▲ $531,780
Savings and Temporary Cash Investments$1,474,605$1,110,885▼ $363,720
Total Assets$3,437,825$3,605,885▲ $168,060
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,436,953$2,281,878▼ $155,075
Accounts Payable and Accrued Expenses$27,767$19,306▼ $8,461
Total Liabilities$2,464,720$2,301,184▼ $163,536
Net Assets / Fund Balance
Temporarily Rstr Net Assets$973,105$1,304,701▲ $331,596
Total Net Assets Fund Balance$973,105$1,304,701▲ $331,596
Total Liabilities and Net Assets / Fund Balance$3,437,825$3,605,885▲ $168,060
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
George CoxPresident/director
Elizabeth SanningVice President/director
Paul StrnisteClerk/director
Clara SavageDirector
Donna SalvidioDirector
Gary MacconnellDirector
Ginger NavickasDirector
John FoleyDirector
Karen CarreiroDirector
Keith NisbetDirector
Kenneth MudieDirector
Kwasi SarpongDirector
Lynda MonahanDirector
Michael MalloyDirector
Richard LeahyDirector
Susan SimeoneDirector
Walter OhanianDirector
James HayesTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$299,375
Program Service Revenue
$123,197
Investment Income
$0
Other Revenue
$213
Change in Net Assets
$331,596
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$91,189
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---$47,596
Other Expenses---$5,553
Fees for Services Legal---$4,852
Total Functional Expenses$0$0$0$91,189
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
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
No
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

Filer Name
Wchr Securities Inc
EIN
04-3238757
Phone
5087990322
Address
11 PLEASANT STREET NO 300, WORCESTER, MA 01609

Signing Officer

Name
George Cox
Title
President
Phone
5087990322
Signed
2015-10-22
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

Firm
Houssan & Ojerholm Pc
Address
27 WEST MOUNTAIN ST, WORCESTER, MA 01606-1342
Preparer
Michael E Houssan
Phone
5087919501
Supplemental Narrative

Additional Explanations

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, 2014, 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”

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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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
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, 2014, THE ORGANIZATION DOES NOT HAVE ANY MATERIAL TAX POSITIONS THAT REQUIRE DISCLOSURE OR RECOGNITION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1NET ASSETS RELEASED FROM RESTRICTIONS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
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/ExplanationTxt3THE 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/FormAndLineReferenceDesc3PART 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/BusinessNameLine1Txt0WORCESTER 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/AddressLine1Txt011 PLEASANT STREET SUITE 300
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WORCESTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd001609
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/BOYAmt0973105
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01304701
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03437825
IRS990/TotalAssetsEOYAmt03605885
IRS990/TotalAssetsGrp/BOYAmt03437825
IRS990/TotalAssetsGrp/EOYAmt03605885
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0299375
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt091189
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02464720
IRS990/TotalLiabilitiesEOYAmt02301184
IRS990/TotalLiabilitiesGrp/BOYAmt02464720
IRS990/TotalLiabilitiesGrp/EOYAmt02301184
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0973105
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01304701
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0123197
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0123410
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0422785
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03437825
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03605885
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt011 PLEASANT STREET NO 300
IRS990/USAddress/CityNm0WORCESTER
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001609
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0HTTP://WWW.WCHR.ORG/
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0GEORGE COX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05087990322
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WCHR SECURITIES INC
ReturnHeader/Filer/BusinessNameControlTxt0WCHR
ReturnHeader/Filer/EIN0043238757
ReturnHeader/Filer/PhoneNum05087990322
ReturnHeader/Filer/USAddress/AddressLine1Txt011 PLEASANT STREET NO 300
ReturnHeader/Filer/USAddress/CityNm0WORCESTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001609
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOUSSAN & OJERHOLM PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt027 WEST MOUNTAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WORCESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,605,885
Liabilities
$2,301,184
Net assets
$1,304,701
Revenue
$422,785
Expenses
$91,189
Net income
$331,596
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
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$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