Civic Intelligence

Cape Cod Apartments Inc.

990 • Fiscal year 2020 • EIN 04-6139234

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 03, 2021

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

85th percentile

0.78x

Higher debt load relative to assets than 85% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

95th percentile

8.33x

Higher debt load relative to revenue than 95% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

73rd percentile

16%

Higher net margin than 73% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

27th percentile

0.1%

Faster asset growth than 27% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

80th percentile

24%

Faster revenue growth than 80% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$12,113,897

Up $13,340 (+0.1%) from 2019

Net Assets

Up

$2,631,279

Up $187,746 (+7.7%) from 2019

Liabilities

Down

$9,482,618

Down $174,406 (-1.8%) from 2019

Revenue

Up

$1,138,404

Up $221,209 (+24%) from 2019

Expenses

Up

$950,658

Up $226,238 (+31%) from 2019

Net Income

Down

$187,746

Down $5,029 (-2.6%) from 2019

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

2020

Assets$12,113,897
Liabilities$9,482,618
Net Assets$2,631,279

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

2020

Revenue$1,138,404
Expenses$950,658
Net Income$187,746
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 3, 2021
Return Version
2020v4.0
Gross Receipts
$1,138,404
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,648,726$6,656,157▲ $1,007,431
Land, Buildings, and Equipment, Net$2,773,699$4,557,400▲ $1,783,701
Savings and Temporary Cash Investments$3,304,721$507,225▼ $2,797,496
Intangible Assets$332,377$322,696▼ $9,681
Accounts Receivable$38,940$68,502▲ $29,562
Prepaid Expenses and Deferred Charges$2,094$1,917▼ $177
Total Assets$12,100,557$12,113,897▲ $13,340
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,531,593$9,390,983▼ $140,610
Accounts Payable and Accrued Expenses$91,524$49,686▼ $41,838
Escrow Account Liability$31,245$35,880▲ $4,635
Deferred Revenue$2,662$6,069▲ $3,407
Total Liabilities$9,657,024$9,482,618▼ $174,406
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,973,582$2,188,942▲ $215,360
Net Assets Without Donor Restrictions$469,951$442,337▼ $27,614
Total Net Assets Fund Balance$2,443,533$2,631,279▲ $187,746
Total Liabilities and Net Assets / Fund Balance$12,100,557$12,113,897▲ $13,340

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,775,310$628,293$4,403,603
Buildings$582,090$333,753$915,843
Land$200,000-$200,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Stephen AdamsPresident
Bob ReeceDirector
Jim BurgesDirector
John MincieliDirector
John ScanlanDirector
Karen ChorchesDirector
Margaret BaraoDirector
Teri KeysDirector
Susan ZavalaSecretary
Joanne BaylesTreasurer
Donald Vahey JrVice Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$639,425
Program Service Revenue
$434,543
Investment Income
$52,683
Other Revenue
$11,753
Change in Net Assets
$187,746

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,138,404
Total Revenue per Audited Statements
$1,138,404
Total Revenue per Form 990
$1,138,404
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$804,505
Salaries, Compensation, and Employee Benefits$146,153
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$345,567--$345,567
Other Salaries and Wages$45,222$70,373-$115,595
Occupancy$77,547--$77,547
Insurance$71,554--$71,554
Depreciation Depletion$57,018--$57,018
Fees for Services Management-$51,671-$51,671
Office Expenses-$29,168-$29,168
Fees for Services Accounting-$17,636-$17,636
Other Employee Benefits$16,672--$16,672
All Other Expenses$12,963$3,357-$16,320
Payroll Taxes$13,886--$13,886
Other Expenses$10,990$32,415-$10,990
Advertising-$229-$229
Fees for Services Legal-$75-$75
Total Functional Expenses$745,734$204,924$0$950,658

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$950,658
Total Expenses per Audited Statements$950,658
Total Expenses per Form 990$950,658
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Stephen Adams
Title
President
Phone
5085400405
Signed
2021-03-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Adams
Formed
1969
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Sanders Walsh & Eaton Cpas LLC
Address
PO BOX F, OSTERVILLE, MA 02655
Preparer
Joseph F Mcgee CPA
Phone
5084280790
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The organization holds tenant security deposits in accordance with hud requirments.

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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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IRS990/PYTotalRevenueAmt0917195
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02155719
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt029610
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt02142
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IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.96690
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0333753
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0628293
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0200000
IRS990ScheduleD/RevenueSubtotalAmt01138404
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS TENANT SECURITY DEPOSITS IN ACCORDANCE WITH HUD REQUIRMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
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IRS990ScheduleD/TotalExpensesPerForm990Amt0950658
IRS990ScheduleD/TotalRevenuePerForm990Amt01138404
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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.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt012100557
IRS990/TotalAssetsEOYAmt012113897
IRS990/TotalAssetsGrp/BOYAmt012100557
IRS990/TotalAssetsGrp/EOYAmt012113897
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IRS990/TotalContributionsAmt0639425
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0745734
IRS990/TotalFunctionalExpensesGrp/TotalAmt0950658
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09657024
IRS990/TotalLiabilitiesEOYAmt09482618
IRS990/TotalLiabilitiesGrp/BOYAmt09657024
IRS990/TotalLiabilitiesGrp/EOYAmt09482618
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02443533
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02631279
IRS990/TotalProgramServiceExpensesAmt0745734
IRS990/TotalProgramServiceRevenueAmt0434543
IRS990/TotalRevenueGrp/ExclusionAmt056522
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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