Civic Intelligence

Cape Cod Apartments Inc.

990 • Fiscal year 2017 • EIN 04-6139234

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 07, 2018

62 Locust StreetFalmouth, MA 02543

(508) 540-0405

Siviq Scores

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

Liabilities / Assets

48th percentile

0.08x

Higher debt load relative to assets than 48% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

72nd percentile

0.35x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

58th percentile

5.8%

Higher net margin than 58% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

38th percentile

-0.1%

Faster asset growth than 38% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

39th percentile

0.4%

Faster revenue growth than 39% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$2,385,922

Down $2,418 (-0.1%) from 2016

Net Assets

Up

$2,199,166

Up $31,308 (+1.4%) from 2016

Liabilities

Down

$186,756

Down $33,726 (-15%) from 2016

Revenue

Up

$539,917

Up $2,283 (+0.4%) from 2016

Expenses

Up

$508,609

Up $37,314 (+7.9%) from 2016

Net Income

Down

$31,308

Down $35,031 (-53%) from 2016

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $2,085,453Liabilities 2010: $420,308Net Assets 2010: $1,665,1452010Assets 2011: $2,162,860Liabilities 2011: $389,859Net Assets 2011: $1,773,0012011Assets 2012: $2,238,464Liabilities 2012: $361,603Net Assets 2012: $1,876,8612012Assets 2013: $2,290,753Liabilities 2013: $330,251Net Assets 2013: $1,960,5022013Assets 2014: $2,326,866Liabilities 2014: $282,915Net Assets 2014: $2,043,9512014Assets 2015: $2,360,995Liabilities 2015: $259,476Net Assets 2015: $2,101,5192015Assets 2016: $2,388,340Liabilities 2016: $220,482Net Assets 2016: $2,167,8582016Assets 2017: $2,385,922Liabilities 2017: $186,756Net Assets 2017: $2,199,1662017Assets 2018: $2,395,144Liabilities 2018: $144,386Net Assets 2018: $2,250,7582018Assets 2019: $12,100,557Liabilities 2019: $9,657,024Net Assets 2019: $2,443,5332019Assets 2020: $12,113,897Liabilities 2020: $9,482,618Net Assets 2020: $2,631,2792020Assets 2021: $11,831,437Liabilities 2021: $9,065,820Net Assets 2021: $2,765,6172021Assets 2022: $11,883,585Liabilities 2022: $9,073,840Net Assets 2022: $2,809,7452022Assets 2023: $12,007,269Liabilities 2023: $8,836,248Net Assets 2023: $3,171,0212023Assets 2024: $12,311,503Liabilities 2024: $8,684,825Net Assets 2024: $3,626,6782024

Highlighted filing

2017

Assets$2,385,922
Liabilities$186,756
Net Assets$2,199,166

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $397,7972010Expenses 2011: $405,4012011Expenses 2012: $409,9262012Revenue 2013: $515,969Expenses 2013: $432,328Net Income 2013: $83,6412013Revenue 2014: $526,752Expenses 2014: $443,303Net Income 2014: $83,4492014Revenue 2015: $534,370Expenses 2015: $476,802Net Income 2015: $57,5682015Revenue 2016: $537,634Expenses 2016: $471,295Net Income 2016: $66,3392016Revenue 2017: $539,917Expenses 2017: $508,609Net Income 2017: $31,3082017Revenue 2018: $543,884Expenses 2018: $492,292Net Income 2018: $51,5922018Revenue 2019: $917,195Expenses 2019: $724,420Net Income 2019: $192,7752019Revenue 2020: $1,138,404Expenses 2020: $950,658Net Income 2020: $187,7462020Revenue 2021: $1,243,459Expenses 2021: $1,109,121Net Income 2021: $134,3382021Revenue 2022: $1,265,667Expenses 2022: $1,221,539Net Income 2022: $44,1282022Revenue 2023: $1,585,607Expenses 2023: $1,224,331Net Income 2023: $361,2762023Revenue 2024: $1,782,141Expenses 2024: $1,326,484Net Income 2024: $455,6572024

Highlighted filing

2017

Revenue$539,917
Expenses$508,609
Net Income$31,308
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 7, 2018
Return Version
2017v2.2
Gross Receipts
$539,917
Mission and Program Overview

Mission

The organization's mission is to provide middle-income housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,651,984$1,660,772▲ $8,788
Savings and Temporary Cash Investments$456,981$493,916▲ $36,935
Cash and Non-Interest-Bearing Accounts$212,409$188,608▼ $23,801
Accounts Receivable$48,056$41,474▼ $6,582
Prepaid Expenses and Deferred Charges$18,910$1,152▼ $17,758
Total Assets$2,388,340$2,385,922▼ $2,418
Liabilities
Mortgage Notes Payable Secured by Investment Property$168,239$129,593▼ $38,646
Other Liabilities$29,134$30,978▲ $1,844
Accounts Payable and Accrued Expenses$22,037$24,448▲ $2,411
Deferred Revenue$1,072$1,737▲ $665
Total Liabilities$220,482$186,756▼ $33,726
Net Assets / Fund Balance
Unrestricted Net Assets$2,167,858$2,199,166▲ $31,308
Total Net Assets Fund Balance$2,167,858$2,199,166▲ $31,308
Total Liabilities and Net Assets / Fund Balance$2,388,340$2,385,922▼ $2,418

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,882,497-$1,882,497
Equipment$283,883-$283,883
Land$200,000-$200,000
Other Land Buildings$117,433-$117,433
Compensation and Service Providers

Board Members and Trustees

NameTitle
Stephen AdamsPresident
Bob ReeceDirector
Jim BurgessDirector
John MincieliDirector
John ScanlanDirector
Karen ChorchesDirector
Kenneth PealDirector
Margaret G BaraoDirector
Teri KeyesDirector
Susan ZavalaSecretary
Joanne BaylesTreasurer
Donald Vahey JrVice Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$100,420
Program Service Revenue
$429,831
Investment Income
$2,142
Other Revenue
$7,524
Change in Net Assets
$31,308

Audited Revenue Reconciliation

Revenue per Audited Statements
$539,917
Total Revenue per Audited Statements
$539,917
Total Revenue per Form 990
$539,917
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$373,545
Salaries, Compensation, and Employee Benefits$135,064
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$49,885$52,688-$102,573
Occupancy$75,610--$75,610
Insurance$42,216--$42,216
Depreciation Depletion$41,640--$41,640
Fees for Services Management-$32,201-$32,201
Other Employee Benefits$10,805$13,075-$23,880
Office Expenses-$20,140-$20,140
Fees for Services Accounting-$14,911-$14,911
Other Expenses$9,384$68,178-$9,384
Payroll Taxes$4,133$4,478-$8,611
All Other Expenses$8,128--$8,128
Interest$5,909--$5,909
Fees for Services Legal-$419-$419
Total Functional Expenses$302,519$206,090$0$508,609

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$508,609
Total Expenses per Audited Statements$508,609
Total Expenses per Form 990$508,609
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$30,978
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Organizations contracts c.a.n. Property management services, llc to provide services for day to day operations.

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

A copy of form 990 is provided to all board members at the annual meeting for approval.

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Cape Cod Apartments Inc
EIN
04-6139234
Phone
5085400405
Address
62 LOCUST STREET, FALMOUTH, MA 02543

Signing Officer

Name
Kenneth Peal
Title
Director
Phone
5085400405
Signed
2018-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Reece
Formed
1969
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Sanders Walsh & Eaton LLC
Address
PO BOX F, OSTERVILLE, MA 02655
Preparer
Michael J Walsh CPA
Phone
5084280790
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATIONS CONTRACTS C.A.N. PROPERTY MANAGEMENT SERVICES, LLC TO PROVIDE SERVICES FOR DAY TO DAY OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 IS PROVIDED TO ALL BOARD MEMBERS AT THE ANNUAL MEETING FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.3$8.68$3.63$1.78$1.33$0.46
2023Detailed filing. Detailed filing data is available for this year.$12.0$8.84$3.17$1.59$1.22$0.36
2022Detailed filing. Detailed filing data is available for this year.$11.9$9.07$2.81$1.27$1.22$0.04
2021Detailed filing. Detailed filing data is available for this year.$11.8$9.07$2.77$1.24$1.11$0.13
2020Detailed filing. Detailed filing data is available for this year.$12.1$9.48$2.63$1.14$0.95$0.19
2019Detailed filing. Detailed filing data is available for this year.$12.1$9.66$2.44$0.92$0.72$0.19
2018Detailed filing. Detailed filing data is available for this year.$2.40$0.14$2.25$0.54$0.49$0.05
2017Detailed filing. Detailed filing data is available for this year.$2.39$0.19$2.20$0.54$0.51$0.03
2016Detailed filing. Detailed filing data is available for this year.$2.39$0.22$2.17$0.54$0.47$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.36$0.26$2.10$0.53$0.48$0.06
2014Detailed filing. Detailed filing data is available for this year.$2.33$0.28$2.04$0.53$0.44$0.08
2013Detailed filing. Detailed filing data is available for this year.$2.29$0.33$1.96$0.52$0.43$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.24$0.36$1.88$0.41
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.16$0.39$1.77$0.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.09$0.42$1.67$0.40