Civic Intelligence

145 South 3Rd Street Housing Development Fund Corporation

990 • Fiscal year 2016 • EIN 04-3661106

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

Organization Profilelossures.org
434 South 5th StreetBrooklyn, NY 11211

(718) 387-3600

Siviq Scores

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

Liabilities / Assets

82nd percentile

1.21x

Higher debt load relative to assets than 82% of similar nonprofits.

2016 filings • NTEE L • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

90th percentile

14.74x

Higher debt load relative to revenue than 90% of similar nonprofits.

2016 filings • NTEE L • $5M-$10M nonprofits • Source year 2016

Net Margin

32nd percentile

-17%

Higher net margin than 32% of similar nonprofits.

2016 filings • NTEE L • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

61st percentile

$141,050

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 20.7% of source-year revenue.

2016 filings • NTEE L • $5M-$10M nonprofits • Source year 2016

Asset Growth

47th percentile

-1.8%

Faster asset growth than 47% of similar nonprofits.

2016 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

76th percentile

9.7%

Faster revenue growth than 76% of similar nonprofits.

2016 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$8,321,145

Down $150,960 (-1.8%) from 2015

Net Assets

Down

-$1,713,049

Down $115,987 (-7.3%) from 2015

Liabilities

Down

$10,034,194

Down $34,973 (-0.3%) from 2015

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin32nd percentile

Revenue

Up

$680,869

Up $60,194 (+9.7%) from 2015

Expenses

Down

$796,856

Down $23,424 (-2.9%) from 2015

Net Income

Up

-$115,987

Up $83,618 (+42%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $9,616,302Liabilities 2010: $10,147,813Net Assets 2010: -$531,5112010Assets 2011: $9,424,879Liabilities 2011: $10,177,070Net Assets 2011: -$752,1912011Assets 2012: $9,183,583Liabilities 2012: $10,147,898Net Assets 2012: -$964,3152012Assets 2013: $8,900,381Liabilities 2013: $10,085,444Net Assets 2013: -$1,185,0632013Assets 2014: $8,694,818Liabilities 2014: $10,092,275Net Assets 2014: -$1,397,4572014Assets 2015: $8,472,105Liabilities 2015: $10,069,167Net Assets 2015: -$1,597,0622015Assets 2016: $8,321,145Liabilities 2016: $10,034,194Net Assets 2016: -$1,713,0492016Assets 2017: $8,309,574Liabilities 2017: $10,212,978Net Assets 2017: -$1,903,4042017Assets 2018: $8,045,403Liabilities 2018: $10,048,370Net Assets 2018: -$2,002,9672018Assets 2019: $7,793,230Liabilities 2019: $10,125,824Net Assets 2019: -$2,332,5942019Assets 2020: $7,764,504Liabilities 2020: $10,270,958Net Assets 2020: -$2,506,4542020Assets 2021: $7,694,022Liabilities 2021: $10,184,486Net Assets 2021: -$2,490,4642021Assets 2022: $7,648,778Liabilities 2022: $10,169,367Net Assets 2022: -$2,520,5892022Assets 2023: $7,619,498Liabilities 2023: $10,196,903Net Assets 2023: -$2,577,4052023Assets 2024: $7,462,762Liabilities 2024: $10,149,693Net Assets 2024: -$2,686,9312024

Highlighted filing

2016

Assets$8,321,145
Liabilities$10,034,194
Net Assets-$1,713,049
Open 2016 Filing

Operations Trend

Revenue Growth76th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2010: $512,804Expenses 2010: $746,988Net Income 2010: -$234,1842010Revenue 2011: $534,584Expenses 2011: $755,264Net Income 2011: -$220,6802011Expenses 2012: $810,4602012Revenue 2013: $621,737Expenses 2013: $842,485Net Income 2013: -$220,7482013Revenue 2014: $619,093Expenses 2014: $831,487Net Income 2014: -$212,3942014Revenue 2015: $620,675Expenses 2015: $820,280Net Income 2015: -$199,6052015Revenue 2016: $680,869Expenses 2016: $796,856Net Income 2016: -$115,9872016Revenue 2017: $733,164Expenses 2017: $923,519Net Income 2017: -$190,3552017Revenue 2018: $992,845Expenses 2018: $1,092,408Net Income 2018: -$99,5632018Revenue 2019: $914,781Expenses 2019: $1,244,408Net Income 2019: -$329,6272019Revenue 2020: $1,164,649Expenses 2020: $1,359,074Net Income 2020: -$194,4252020Revenue 2021: $1,362,395Expenses 2021: $1,346,405Net Income 2021: $15,9902021Revenue 2022: $1,352,159Expenses 2022: $1,382,284Net Income 2022: -$30,1252022Revenue 2023: $1,329,726Expenses 2023: $1,386,542Net Income 2023: -$56,8162023Revenue 2024: $1,302,233Expenses 2024: $1,411,759Net Income 2024: -$109,5262024

Highlighted filing

2016

Revenue$680,869
Expenses$796,856
Net Income-$115,987
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$680,869
Mission and Program Overview

Mission

Organized exclusively for the charitable purpose of developing a housing project for elderly persons of low income.

Operates a 65 unit housing project for elderly persons of low income

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,003,395$7,775,022▼ $228,373
Savings and Temporary Cash Investments$31,932$68,097▲ $36,165
Cash and Non-Interest-Bearing Accounts$39,287$28,714▼ $10,573
Prepaid Expenses and Deferred Charges$7,959$21,844▲ $13,885
Accounts Receivable$2,589$1,468▼ $1,121
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$8,472,105$8,321,145▼ $150,960
Other Assets Total$386,943$426,000▲ $39,057
Liabilities
Other Liabilities$10,004,142$10,009,207▲ $5,065
Accounts Payable and Accrued Expenses$64,742$24,129▼ $40,613
Deferred Revenue$283$858▲ $575
Total Liabilities$10,069,167$10,034,194▼ $34,973
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,597,062$-1,713,049▼ $115,987
Total Liabilities and Net Assets / Fund Balance$8,472,105$8,321,145▼ $150,960

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,961,840$2,332,226$9,294,066
Land$801,999-$801,999
Other Land Buildings$11,183$95,779$106,962
Equipment$0$1,938$1,938
Other Assets Org$5,835--
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleOtherTotal
Ramon PegueroExecutive Director$141,050$141,050
Gaudi Polanco-MendozaFinance Director$99,654$99,654

Board Members and Trustees

NameTitle
Juan RamosChairman
Ray NarvaezVice Chairman
David LopezMemBER
Gladys FrancoMember
Maria OcasioSecretary
Israel RosarioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$662,333
Investment Income
$626
Other Revenue
$17,910
Change in Net Assets
$-115,987

Audited Revenue Reconciliation

Revenue per Audited Statements
$680,869
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$680,869
Total Revenue per Form 990
$680,869
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$763,737
Salaries, Compensation, and Employee Benefits$33,119
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$252,486--$252,486
Occupancy$103,659--$103,659
Insurance$57,520--$57,520
Fees for Services Management$47,124--$47,124
Other Salaries and Wages$33,119--$33,119
Office Expenses$28,195--$28,195
Fees for Services Accounting-$17,000-$17,000
Other Expenses$9,924--$9,924
Fees for Services Legal$267--$267
Total Functional Expenses$779,856$17,000$0$796,856

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$796,856
Total Expenses per Audited Statements$796,856
Total Expenses per Form 990$796,856
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mortgage payable$9,978,400
Tenant Security deposits$15,601
Due to southside UHDFC$15,206
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
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“DURING THE ORGANIZATION'S TAX YEAR THE ORGANIZATION USED A MANAGEMENT COMPANY TO PERFORM MANAGEMENT DUTIES. MANAGEMENT DUTIES INCLUDE, BUT ARE NOT LIMITED TO, HIRING, FIRING, AND SUPERVISION OF PERSONNEL, PLANNING OR EXECUTING BUDGETS OR FINANCIAL OPERATIONS. The management company was MHR Management and was spend 20,275 during the year.”

Form 990, Part VI, Section B, line 11B

“A draft of the tax return is discussed and reviewed with the organization's top management and officers of the board befire a final draft is approved for submission. For 2015, due to time constraints the board did not get the chance to review and approve prior to submission. Review and approval process will be done at the following board meeting after submission.”

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

“Officers, directors,trustees and key employees are required to submit signed statements.”

Form 990, Part VI, Section C, line 19

“Upon request the organization made available documents”

Filing and Contact Details

Filer

Filer Name
145 SOUTH 3RD STREET Housing Development
EIN
04-3661106
Phone
7183873600
Address
434 SOUTH 5TH STREET, BROOKLYN, NY 11211

Signing Officer

Name
Juan Ramos
Title
executive director
Phone
7183873600
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Juan Ramos
Formed
2003
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Cohnreznick Llp
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Thomas Lanning
Phone
2122970400
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“There has been no change in process from prior year.”

Financial Statement Notes

Part X, Line 2:

“The Corporation has applied for and received a determination letter from the Internal Revenue Service ("IRS") to be treated as a tax exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended December 31, 2016. Due to its tax exempt status, the Corporation is not subject to income taxes. The Corporation is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure. Income tax returns filed by the Corporation are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2013 remain open.”

Raw XML AppendixShowing 400 of 779 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/OtherRevenueTotalAmt017910
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt033119
IRS990/OtherSalariesAndWagesGrp/TotalAmt033119
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07959
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt021844
IRS990/PrincipalOfficerNm0Juan Ramos
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0Rental Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0662333
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0662333
IRS990/ProgSrvcAccomActy2Grp/Desc0Social service : Provided groceries, volunteer learning opportunities and offered fresh produce at the newly created hydroponic farm located in the pantry. Provided information and refferal services, entitlement counseling including snap screening and on-site medicaid facilitated enrollment to Approximately 360 individuals.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt020275
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0696
IRS990/PYOtherExpensesAmt0752459
IRS990/PYOtherRevenueAmt03871
IRS990/PYProgramServiceRevenueAmt0616108
IRS990/PYRevenuesLessExpensesAmt0-199605
IRS990/PYSalariesCompEmpBnftPaidAmt067821
IRS990/PYTotalExpensesAmt0820280
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0620675
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-115987
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0680243
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt031932
IRS990/SavingsAndTempCashInvstGrp/EOYAmt068097
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Miscellaneous Revenue - 2012 Amount: $ 77,329. 2013 Amount: $ 4,373. 2014 Amount: $ 14,541. 2015 Amount: $ 1,542. 2016 Amount: $ 14,689. Laundry and vending - 2015 Amount: $ 2,329. 2016 Amount: $ 3,221.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part III, Line 12, Explanation of Other Income:
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt06000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt06000
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0626
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0696
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0658
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0686
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0803
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03469
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0662333
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0616108
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0603894
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0610677
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0520204
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt03013216
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0626
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0696
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0658
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0686
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0803
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03469
IRS990ScheduleA/InvestmentIncomeCYPct00.00110
IRS990ScheduleA/InvestmentIncomePYPct00.00120
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt017910
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt03871
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt014541
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt04373
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt077329
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0118024
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.96130
IRS990ScheduleA/PublicSupportPY509Pct00.96450
IRS990ScheduleA/PublicSupportTotal509Amt03019216
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0662333
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0616108
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0603894
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0616677
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0520204
IRS990ScheduleA/Total509Grp/TotalAmt03019216
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0680869
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0620675
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0619093
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0621736
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0598336
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03140709
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt06961840
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02332226
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09294066
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01938
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01938
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0796856
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0801999
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0801999
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt015601
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1404564
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt25835
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0tenant security deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1replacement reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Utility deposits
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt011183
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt095779
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0106962
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015601
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt115206
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt29978400
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Security deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Due to southside UHDFC
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Mortgage payable
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0680869
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation has applied for and received a determination letter from the Internal Revenue Service ("IRS") to be treated as a tax exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended December 31, 2016. Due to its tax exempt status, the Corporation is not subject to income taxes. The Corporation is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure. Income tax returns filed by the Corporation are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2013 remain open.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07775022
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0426000
IRS990ScheduleD/TotalExpensesPerForm990Amt0796856
IRS990ScheduleD/TotalLiabilityAmt010009207
IRS990ScheduleD/TotalRevenuePerForm990Amt0680869
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0680869
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0796856
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING THE ORGANIZATION'S TAX YEAR THE ORGANIZATION USED A MANAGEMENT COMPANY TO PERFORM MANAGEMENT DUTIES. MANAGEMENT DUTIES INCLUDE, BUT ARE NOT LIMITED TO, HIRING, FIRING, AND SUPERVISION OF PERSONNEL, PLANNING OR EXECUTING BUDGETS OR FINANCIAL OPERATIONS. The management company was MHR Management and was spend 20,275 during the year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT OF THE TAX RETURN IS DISCUSSED AND REVIEWED WITH THE ORGANIZATION'S TOP MANAGEMENT AND OFFICERS OF THE BOARD BEFIRE A FINAL DRAFT IS APPROVED FOR SUBMISSION. FOR 2015, DUE TO TIME CONSTRAINTS THE BOARD DID NOT GET THE CHANCE TO REVIEW AND APPROVE PRIOR TO SUBMISSION. REVIEW AND APPROVAL PROCESS WILL BE DONE AT THE FOLLOWING BOARD MEETING AFTER SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OFFICERS, DIRECTORS,TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT SIGNED STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST THE ORGANIZATION MADE AVAILABLE DOCUMENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE HAS BEEN NO CHANGE IN PROCESS FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd60
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd70
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd80
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd90
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd100
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd5N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd6N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd7N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd8N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd9N/A

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,321,145
Liabilities
$10,034,194
Net assets
-$1,713,049
Revenue
$680,869
Expenses
$796,856
Net income
-$115,987
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.46$10.1$2.69$1.30$1.41$0.11
2023Detailed filing. Detailed filing data is available for this year.$7.62$10.2$2.58$1.33$1.39$0.06
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.65$10.2$2.52$1.35$1.38$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.69$10.2$2.49$1.36$1.35$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.76$10.3$2.51$1.16$1.36$0.19
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.79$10.1$2.33$0.91$1.24$0.33
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.05$10.0$2.00$0.99$1.09$0.10
2017Detailed filing. Detailed filing data is available for this year.$8.31$10.2$1.90$0.73$0.92$0.19
2016Detailed filing. Detailed filing data is available for this year.$8.32$10.0$1.71$0.68$0.80$0.12
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.47$10.1$1.60$0.62$0.82$0.20
2014Detailed filing. Detailed filing data is available for this year.$8.69$10.1$1.40$0.62$0.83$0.21
2013Detailed filing. Detailed filing data is available for this year.$8.90$10.1$1.19$0.62$0.84$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.18$10.1$0.96$0.81
2011Summary only. Only limited summary data is available for this year.$9.42$10.2$0.75$0.53$0.76$0.22
2010Summary only. Only limited summary data is available for this year.$9.62$10.1$0.53$0.51$0.75$0.23