Civic Intelligence

Affordable Housing Associates of Lynn Inc.

990 • Fiscal year 2017 • EIN 04-3331491

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 08, 2017

Organization Profile
52 Andrew StreetLynn, MA 01901

(781) 581-8603

Siviq Scores

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

Liabilities / Assets

87th percentile

0.83x

Higher debt load relative to assets than 87% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

23.44x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

98th percentile

93%

Higher net margin than 98% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$1,800

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

16th percentile

-5.0%

Faster asset growth than 16% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-81%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$5,167,781

Down $271,035 (-5.0%) from 2016

Net Assets

Up

$861,321

Up $19,156 (+2.3%) from 2016

Liabilities

Down

$4,306,460

Down $290,191 (-6.3%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin98th percentile

Revenue

Down

$183,741

Down $793,286 (-81%) from 2016

Expenses

Down

$12,091

Down $107,090 (-90%) from 2016

Net Income

Down

$171,650

Down $686,196 (-80%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $5,880,001Liabilities 2010: $5,836,086Net Assets 2010: $43,9152010Assets 2011: $5,797,154Liabilities 2011: $5,805,599Net Assets 2011: -$8,4452011Assets 2012: $5,624,449Liabilities 2012: $5,662,599Net Assets 2012: -$38,1502012Assets 2013: $5,624,294Liabilities 2013: $5,694,869Net Assets 2013: -$70,5752013Assets 2014: $5,271,577Liabilities 2014: $5,205,836Net Assets 2014: $65,7412014Assets 2015: $5,807,410Liabilities 2015: $5,823,091Net Assets 2015: -$15,6812015Assets 2016: $5,438,816Liabilities 2016: $4,596,651Net Assets 2016: $842,1652016Assets 2017: $5,167,781Liabilities 2017: $4,306,460Net Assets 2017: $861,3212017Assets 2018: $4,735,266Liabilities 2018: $2,661,199Net Assets 2018: $2,074,0672018Assets 2019: $5,214,806Liabilities 2019: $3,237,920Net Assets 2019: $1,976,8862019Assets 2020: $4,969,705Liabilities 2020: $3,367,481Net Assets 2020: $1,602,2242020Assets 2021: $3,767,439Liabilities 2021: $1,841,689Net Assets 2021: $1,925,7502021Assets 2022: $3,818,642Liabilities 2022: $1,833,464Net Assets 2022: $1,985,1782022Assets 2023: $4,274,214Liabilities 2023: $1,796,234Net Assets 2023: $2,477,9802023Assets 2024: $4,351,572Liabilities 2024: $1,541,019Net Assets 2024: $2,810,5532024

Highlighted filing

2017

Assets$5,167,781
Liabilities$4,306,460
Net Assets$861,321
Open 2017 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.0M$500K$0-$500KExpenses 2010: $72,0592010Revenue 2011: $20,376Expenses 2011: $72,736Net Income 2011: -$52,3602011Expenses 2012: $53,8242012Revenue 2013: $10,809Expenses 2013: $43,234Net Income 2013: -$32,4252013Revenue 2014: $175,544Expenses 2014: $39,228Net Income 2014: $136,3162014Revenue 2015: -$42,978Expenses 2015: $38,444Net Income 2015: -$81,4222015Revenue 2016: $977,027Expenses 2016: $119,181Net Income 2016: $857,8462016Revenue 2017: $183,741Expenses 2017: $12,091Net Income 2017: $171,6502017Revenue 2018: $306,815Expenses 2018: $12,440Net Income 2018: $294,3752018Revenue 2019: $15,256Expenses 2019: $112,437Net Income 2019: -$97,1812019Revenue 2020: -$188,507Expenses 2020: $186,155Net Income 2020: -$374,6622020Revenue 2021: $492,987Expenses 2021: $169,461Net Income 2021: $323,5262021Revenue 2022: $103,103Expenses 2022: $43,675Net Income 2022: $59,4282022Revenue 2023: $612,171Expenses 2023: $119,369Net Income 2023: $492,8022023Revenue 2024: $454,190Expenses 2024: $121,617Net Income 2024: $332,5732024

Highlighted filing

2017

Revenue$183,741
Expenses$12,091
Net Income$171,650
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 8, 2017
Return Version
2016v3.1
Gross Receipts
$1,190,013
Mission and Program Overview

Mission

Provide affordable housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,244,362$4,947,828▼ $296,534
Cash and Non-Interest-Bearing Accounts$146,454$166,900▲ $20,446
Accounts Receivable$44,449$49,723▲ $5,274
Total Assets$5,438,816$5,167,781▼ $271,035
Other Assets Total$3,551$3,330▼ $221
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,501,510$4,213,600▼ $287,910
Accounts Payable and Accrued Expenses$86,550$82,667▼ $3,883
Other Liabilities$8,591$10,193▲ $1,602
Total Liabilities$4,596,651$4,306,460▼ $290,191
Net Assets / Fund Balance
Unrestricted Net Assets$842,165$861,321▲ $19,156
Total Net Assets Fund Balance$842,165$861,321▲ $19,156
Total Liabilities and Net Assets / Fund Balance$5,438,816$5,167,781▼ $271,035

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,025,669$574,227$3,599,896
Leasehold Improvements$950,443$1,148,454$2,098,897
Land$971,716-$971,716
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleBaseTotal
James ToomeyPresident$1,800$1,800

Board Members and Trustees

NameTitle
Courtney SullivanDirector
Edgar PegueroDirector
Magnolia ContrerasDirector
Michelle LyonsDirector
Nick KostanDirector
Robert FerrariTreasurer/cl
Phil CliffordVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$13,346
Other Revenue
$170,395
Change in Net Assets
$171,650
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,291
Salaries, Compensation, and Employee Benefits$1,800
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$1,800-$1,800
Insurance$1,406--$1,406
Other Expenses$900--$900
All Other Expenses$357--$357
Total Functional Expenses$10,291$1,800$0$12,091
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
Tenant Security Deposits$10,193
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“SHOWN AT BOARD MEETING”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Affordable Housing Associates
EIN
04-3331491
Phone
7815818603
Address
52 ANDREW STREET, LYNN, MA 01901

Signing Officer

Name
Robert Ferrari
Title
Treasurer/clerk
Phone
7815818603
Signed
2017-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Ferrari
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Firm
DEMAKIS & DEMAKIS CPA'S
Address
56 CENTRAL AVENUE SUITE 301, LYNN, MA 01901-1190
Preparer
Timothy S Demakis CPA
Phone
7815926120
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To create,develop,maintain or finance affordable housing for the benefit of very low income,low income and other persons in need of assistance.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference -152,494”

Raw XML Appendix340 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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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05438816
IRS990/TotalAssetsEOYAmt05167781
IRS990/TotalAssetsGrp/BOYAmt05438816
IRS990/TotalAssetsGrp/EOYAmt05167781
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01800
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt010291
IRS990/TotalFunctionalExpensesGrp/TotalAmt012091
IRS990/TotalGrossUBIAmt0146703
IRS990/TotalLiabilitiesBOYAmt04596651
IRS990/TotalLiabilitiesEOYAmt04306460
IRS990/TotalLiabilitiesGrp/BOYAmt04596651
IRS990/TotalLiabilitiesGrp/EOYAmt04306460
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0842165
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0861321
IRS990/TotalProgramServiceExpensesAmt010291
IRS990/TotalReportableCompFromOrgAmt01800
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt037038
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0183741
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0146703
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05438816
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05167781
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0842165
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0861321
IRS990/USAddress/AddressLine1Txt043 CLIFF STREET
IRS990/USAddress/CityNm0LYNN
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001905
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT FERRARI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER/CLERK
ReturnHeader/BusinessOfficerGrp/PhoneNum07815818603
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AFFORDABLE HOUSING ASSOCIATES
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF LYNN INC
ReturnHeader/Filer/BusinessNameControlTxt0AFFO
ReturnHeader/Filer/EIN0043331491
ReturnHeader/Filer/PhoneNum07815818603
ReturnHeader/Filer/USAddress/AddressLine1Txt052 ANDREW STREET
ReturnHeader/Filer/USAddress/CityNm0LYNN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001901
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0AB1A299CBAA6BCBB2CC707DA52B6AD270323CB7B
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AB1A299CBAA6BCBB2CC707DA52B6AD270323CB7B
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0041731650
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DEMAKIS & DEMAKIS CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt056 CENTRAL AVENUE SUITE 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LYNN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0019011190
ReturnHeader/PreparerPersonGrp/PhoneNum07815926120
ReturnHeader/PreparerPersonGrp/PreparationDt02018-02-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TIMOTHY S DEMAKIS CPA
ReturnHeader/ReturnTs02018-02-15T08:50:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,167,781
Liabilities
$4,306,460
Net assets
$861,321
Revenue
$183,741
Expenses
$12,091
Net income
$171,650
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.35$1.54$2.81$0.45$0.12$0.33
2023Detailed filing. Detailed filing data is available for this year.$4.27$1.80$2.48$0.61$0.12$0.49
2022Detailed filing. Detailed filing data is available for this year.$3.82$1.83$1.99$0.10$0.04$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.77$1.84$1.93$0.49$0.17$0.32
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.97$3.37$1.60$0.19$0.19$0.37
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.21$3.24$1.98$0.02$0.11$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.74$2.66$2.07$0.31$0.01$0.29
2017Detailed filing. Detailed filing data is available for this year.$5.17$4.31$0.86$0.18$0.01$0.17
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.44$4.60$0.84$0.98$0.12$0.86
2015Summary only. Only limited summary data is available for this year.$5.81$5.82$0.02$0.04$0.04$0.08
2014Detailed filing. Detailed filing data is available for this year.$5.27$5.21$0.07$0.18$0.04$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.62$5.69$0.07$0.01$0.04$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.62$5.66$0.04$0.05
2011Summary only. Only limited summary data is available for this year.$5.80$5.81$0.01$0.02$0.07$0.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.88$5.84$0.04$0.07
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $5M-$10M nonprofits