Civic Intelligence

Saugatucket Springs Inc.

990 • Fiscal year 2017 • EIN 04-3733576

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

861A Broad StreetProvidence, RI 02907

(401) 941-5900

Siviq Scores

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

Liabilities / Assets

96th percentile

1.24x

Higher debt load relative to assets than 96% of similar nonprofits.

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

Liabilities / Revenue

97th percentile

14.90x

Higher debt load relative to revenue than 97% of similar nonprofits.

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

Net Margin

9th percentile

-30%

Higher net margin than 9% of similar nonprofits.

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

Top Officer Pay

26th percentile

$64,000

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 13.4% of source-year revenue.

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

Asset Growth

24th percentile

-2.4%

Faster asset growth than 24% of similar nonprofits.

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

Revenue Growth

48th percentile

3.9%

Faster revenue growth than 48% of similar nonprofits.

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

Assets

Down

$5,741,375

Down $141,477 (-2.4%) from 2016

Net Assets

Down

-$1,360,326

Down $144,306 (-12%) from 2016

Liabilities

Up

$7,101,701

Up $2,829 (+0.0%) from 2016

Revenue

Up

$476,553

Up $17,999 (+3.9%) from 2016

Expenses

Up

$620,859

Up $19,981 (+3.3%) from 2016

Net Income

Down

-$144,306

Down $1,982 (-1.4%) from 2016

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2011: $6,635,083Liabilities 2011: $7,121,913Net Assets 2011: -$486,8302011Assets 2012: $6,491,837Liabilities 2012: $7,108,760Net Assets 2012: -$616,9232012Assets 2013: $6,325,950Liabilities 2013: $7,104,893Net Assets 2013: -$778,9432013Assets 2014: $6,173,345Liabilities 2014: $7,131,528Net Assets 2014: -$958,1832014Assets 2015: $6,035,164Liabilities 2015: $7,108,860Net Assets 2015: -$1,073,6962015Assets 2016: $5,882,852Liabilities 2016: $7,098,872Net Assets 2016: -$1,216,0202016Assets 2017: $5,741,375Liabilities 2017: $7,101,701Net Assets 2017: -$1,360,3262017Assets 2018: $5,590,580Liabilities 2018: $7,112,418Net Assets 2018: -$1,521,8382018Assets 2019: $5,400,800Liabilities 2019: $7,114,238Net Assets 2019: -$1,713,4382019Assets 2020: $5,209,829Liabilities 2020: $7,098,221Net Assets 2020: -$1,888,3922020Assets 2021: $5,034,094Liabilities 2021: $7,102,355Net Assets 2021: -$2,068,2612021Assets 2023: $4,758,790Liabilities 2023: $7,248,439Net Assets 2023: -$2,489,6492023Assets 2024: $4,511,716Liabilities 2024: $7,167,571Net Assets 2024: -$2,655,8552024

Highlighted filing

2017

Assets$5,741,375
Liabilities$7,101,701
Net Assets-$1,360,326

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $584,7022011Revenue 2012: $462,368Expenses 2012: $592,461Net Income 2012: -$130,0932012Revenue 2013: $453,365Expenses 2013: $615,385Net Income 2013: -$162,0202013Revenue 2014: $470,399Expenses 2014: $649,639Net Income 2014: -$179,2402014Revenue 2015: $505,006Expenses 2015: $620,519Net Income 2015: -$115,5132015Revenue 2016: $458,554Expenses 2016: $600,878Net Income 2016: -$142,3242016Revenue 2017: $476,553Expenses 2017: $620,859Net Income 2017: -$144,3062017Revenue 2018: $474,842Expenses 2018: $636,354Net Income 2018: -$161,5122018Revenue 2019: $453,786Expenses 2019: $645,386Net Income 2019: -$191,6002019Revenue 2020: $465,677Expenses 2020: $640,631Net Income 2020: -$174,9542020Revenue 2021: $457,043Expenses 2021: $636,912Net Income 2021: -$179,8692021Revenue 2023: $496,562Expenses 2023: $689,158Net Income 2023: -$192,5962023Revenue 2024: $566,826Expenses 2024: $733,032Net Income 2024: -$166,2062024

Highlighted filing

2017

Revenue$476,553
Expenses$620,859
Net Income-$144,306
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Aug 8, 2017
Return Version
2016v3.0
Gross Receipts
$476,553
Mission and Program Overview

Mission

To provide low income housing to the elderly and disabled in the hopkinton, ri area under section 202 of the national affordable housing act.

To provide affordable housing in hopkinton, rhode island for senior citizens and the disabled under section 202 of the national affordable housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,578,835$5,418,752▼ $160,083
Savings and Temporary Cash Investments$253,036$288,401▲ $35,365
Prepaid Expenses and Deferred Charges$20,445$17,021▼ $3,424
Cash and Non-Interest-Bearing Accounts$27,000$15,078▼ $11,922
Accounts Receivable$3,536$2,123▼ $1,413
Total Assets$5,882,852$5,741,375▼ $141,477
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,028,200$7,028,200→ $0
Accounts Payable and Accrued Expenses$50,324$52,712▲ $2,388
Other Liabilities$20,348$20,789▲ $441
Total Liabilities$7,098,872$7,101,701▲ $2,829
Net Assets / Fund Balance
Unrestricted Net Assets$-1,216,020$-1,360,326▼ $144,306
Total Net Assets Fund Balance$-1,216,020$-1,360,326▼ $144,306
Total Liabilities and Net Assets / Fund Balance$5,882,852$5,741,375▼ $141,477

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,038,752$1,700,442$6,739,194
Land$380,000-$380,000
Compensation and Service Providers

Employees

NameTitleOtherTotal
James ComerPresident$64,000$64,000

Board Members and Trustees

NameTitle
Julia BushChair
Ashley HahnDirector
Barbara ColtDirector
Gladys BetancurDirector
Irwin BeckerDirector
Sue BarkerDirector
Michelle MckenzieTreas and Sec
Revenue and Support

Revenue Composition

Contributions and Grants
$251,709
Program Service Revenue
$222,452
Investment Income
$347
Other Revenue
$2,045
Change in Net Assets
$-144,306

Audited Revenue Reconciliation

Revenue per Audited Statements
$476,553
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$476,553
Total Revenue per Form 990
$476,553
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$509,665
Salaries, Compensation, and Employee Benefits$111,194
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$220,270--$220,270
Depreciation Depletion$171,877--$171,877
Other Salaries and Wages$111,194--$111,194
Fees for Services Management$42,575--$42,575
Insurance$26,446--$26,446
Office Expenses$13,116--$13,116
Fees for Services Accounting$10,895--$10,895
Other Expenses$2,462--$2,462
Travel$1,020--$1,020
Fees for Services Legal$720--$720
Total Functional Expenses$620,859$0$0$620,859

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$620,859
Total Expenses per Audited Statements$620,859
Total Expenses per Form 990$620,859
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
Tenant Security Deposit Liab$20,789
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Form 990 is available for review by the governing board upon request.

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

The governing body adheres to the conflict of interest policy that is in place. This policy is reviewed periodically.

Form 990, Part VI, Section C, Line 19

The governing documents and form 990 are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Saugatucket Springs Inc
EIN
04-3733576
Phone
4019415900
Address
861A BROAD STREET, PROVIDENCE, RI 02907

Signing Officer

Name
James Comer
Title
President
Phone
4019412900
Signed
2017-08-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Comer
Formed
2002
Legal Domicile
Ri
Voting Board Members
9
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Damiano Burk & Nuttall Pc
Address
6 BLACKSTONE VALLEY PL STE 109, LINCOLN, RI 02865
Preparer
Kevin Burk
Phone
4013332880
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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02089
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0224497
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0212969
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0245838
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0220092
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0209940
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01113336
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0347
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0395
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0453
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0458
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0436
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02089
IRS990ScheduleA/InvestmentIncomeCYPct00.00090
IRS990ScheduleA/InvestmentIncomePYPct00.00090
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99910
IRS990ScheduleA/PublicSupportPY509Pct00.99910
IRS990ScheduleA/PublicSupportTotal509Amt02361788
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0476206
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0458159
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0504553
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0469941
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0452929
IRS990ScheduleA/Total509Grp/TotalAmt02361788
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0476553
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0458554
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0505006
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0470399
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0453365
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02363877
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05038752
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01700442
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06739194
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0620859
IRS990ScheduleD/LandGrp/BookValueAmt0380000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0380000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020789
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT LIAB
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0476553
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05418752
IRS990ScheduleD/TotalExpensesPerForm990Amt0620859
IRS990ScheduleD/TotalLiabilityAmt020789
IRS990ScheduleD/TotalRevenuePerForm990Amt0476553
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0476553
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0620859
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS AVAILABLE FOR REVIEW BY THE GOVERNING BOARD UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY ADHERES TO THE CONFLICT OF INTEREST POLICY THAT IS IN PLACE. THIS POLICY IS REVIEWED PERIODICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0HOUSING OPPORTUNITIES CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0222487344
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0ACTIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0861A BROAD STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PROVIDENCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd002907
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt042575
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1116739
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt21295
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0HOUSING OPPORTUNITIES CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1HOUSING OPPORTUNITIES CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2HOUSING OPPORTUNITIES CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0M
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05882852
IRS990/TotalAssetsEOYAmt05741375
IRS990/TotalAssetsGrp/BOYAmt05882852
IRS990/TotalAssetsGrp/EOYAmt05741375
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0251709
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0620859
IRS990/TotalFunctionalExpensesGrp/TotalAmt0620859
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07098872
IRS990/TotalLiabilitiesEOYAmt07101701
IRS990/TotalLiabilitiesGrp/BOYAmt07098872
IRS990/TotalLiabilitiesGrp/EOYAmt07101701
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1216020
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1360326
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0620859
IRS990/TotalProgramServiceRevenueAmt0222452
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0347
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0224497
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0476553
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05882852

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.51$7.17$2.66$0.57$0.73$0.17
2023Detailed filing. Detailed filing data is available for this year.$4.76$7.25$2.49$0.50$0.69$0.19
2021Detailed filing. Detailed filing data is available for this year.$5.03$7.10$2.07$0.46$0.64$0.18
2020Detailed filing. Detailed filing data is available for this year.$5.21$7.10$1.89$0.47$0.64$0.17
2019Detailed filing. Detailed filing data is available for this year.$5.40$7.11$1.71$0.45$0.65$0.19
2018Detailed filing. Detailed filing data is available for this year.$5.59$7.11$1.52$0.47$0.64$0.16
2017Detailed filing. Detailed filing data is available for this year.$5.74$7.10$1.36$0.48$0.62$0.14
2016Detailed filing. Detailed filing data is available for this year.$5.88$7.10$1.22$0.46$0.60$0.14
2015Detailed filing. Detailed filing data is available for this year.$6.04$7.11$1.07$0.51$0.62$0.12
2014Detailed filing. Detailed filing data is available for this year.$6.17$7.13$0.96$0.47$0.65$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.33$7.10$0.78$0.45$0.62$0.16
2012Summary only. Only limited summary data is available for this year.$6.49$7.11$0.62$0.46$0.59$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.64$7.12$0.49$0.58