Civic Intelligence

Cape Cod Apartments Inc.

990 • Fiscal year 2021 • EIN 04-6139234

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 29, 2022

Organization ProfileNONE
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

87th percentile

0.77x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

96th percentile

7.29x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

47th percentile

11%

Higher net margin than 47% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

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.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

16th percentile

-2.3%

Faster asset growth than 16% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

45th percentile

9.2%

Faster revenue growth than 45% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$11,831,437

Down $282,460 (-2.3%) from 2020

Net Assets

Up

$2,765,617

Up $134,338 (+5.1%) from 2020

Liabilities

Down

$9,065,820

Down $416,798 (-4.4%) from 2020

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin47th percentile

Revenue

Up

$1,243,459

Up $105,055 (+9.2%) from 2020

Expenses

Up

$1,109,121

Up $158,463 (+17%) from 2020

Net Income

Down

$134,338

Down $53,408 (-28%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

2021

Assets$11,831,437
Liabilities$9,065,820
Net Assets$2,765,617
Open 2021 Filing

Operations Trend

Revenue Growth45th percentile

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

2021

Revenue$1,243,459
Expenses$1,109,121
Net Income$134,338
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 29, 2022
Return Version
2021v4.0
Gross Receipts
$1,243,459
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$6,656,157$6,322,905▼ $333,252
Land, Buildings, and Equipment, Net$4,557,400$4,546,411▼ $10,989
Savings and Temporary Cash Investments$507,225$845,176▲ $337,951
Accounts Receivable$68,502$116,332▲ $47,830
Prepaid Expenses and Deferred Charges$1,917$613▼ $1,304
Total Assets$11,791,201$11,831,437▲ $40,236
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,068,287$8,932,138▼ $136,149
Accounts Payable and Accrued Expenses$49,686$86,728▲ $37,042
Escrow Account Liability$35,880$41,520▲ $5,640
Deferred Revenue$6,069$5,434▼ $635
Total Liabilities$9,159,922$9,065,820▼ $94,102
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,188,942$2,322,160▲ $133,218
Net Assets Without Donor Restrictions$442,337$443,457▲ $1,120
Total Net Assets Fund Balance$2,631,279$2,765,617▲ $134,338
Total Liabilities and Net Assets / Fund Balance$11,791,201$11,831,437▲ $40,236

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,204,655$916,553$5,121,208
Equipment$141,756$169,896$311,652
Land$200,000-$200,000
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Stephen AdamsPresident
Carolyn WoodsDirector
Christopher AlvesDirector
Jim BurgesDirector
John MincieliDirector
John ScanlanDirector
Karen ChorchesDirector
Laurie MurphyDirector
Margaret BaraoDirector
Robert ReeceDirector
Susan ZavalaCleark
Joanne BaylesTreasurer
Patty EricksonTreasurer
Donald Vahey JrVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$759,268
Program Service Revenue
$461,998
Investment Income
$14,358
Other Revenue
$7,835
Change in Net Assets
$134,338

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,243,459
Total Revenue per Audited Statements
$1,243,459
Total Revenue per Form 990
$1,243,459
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$955,924
Salaries, Compensation, and Employee Benefits$153,197
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$340,347--$340,347
Depreciation Depletion$134,085--$134,085
Other Salaries and Wages$47,909$72,326-$120,235
Occupancy$79,681--$79,681
Insurance$73,451--$73,451
Fees for Services Management-$56,255-$56,255
Office Expenses-$28,681-$28,681
All Other Expenses$20,068$3,820-$23,888
Fees for Services Accounting-$18,162-$18,162
Other Employee Benefits$17,790--$17,790
Payroll Taxes$15,172--$15,172
Other Expenses$11,265$37,841-$11,265
Fees for Services Legal-$955-$955
Total Functional Expenses$891,081$218,040$0$1,109,121

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,109,121
Total Expenses per Audited Statements$1,109,121
Total Expenses per Form 990$1,109,121
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
2022-03-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Adams
Formed
1969
Legal Domicile
Ma
Voting Board Members
14
Independent Board Members
14
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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IRS990/OtherExpensesGrp/Desc2SUPPLIES
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt072326
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0120235
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IRS990/PrincipalOfficerNm0STEPHEN ADAMS
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IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/Desc0TENANT RENTS-NET OF VACANCIES
IRS990/ProgramServiceRevenueGrp/Desc1LAUNDRY INCOME
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13689
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0639425
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt052683
IRS990/PYOtherExpensesAmt0804505
IRS990/PYOtherRevenueAmt011753
IRS990/PYProgramServiceRevenueAmt0434543
IRS990/PYRevenuesLessExpensesAmt0187746
IRS990/PYSalariesCompEmpBnftPaidAmt0146153
IRS990/PYTotalExpensesAmt0950658
IRS990/PYTotalRevenueAmt01138404
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0134338
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0461998
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0507225
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0845176
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0759268
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0639425
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0444155
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0100492
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0100420
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02043760
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt014358
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt058214
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt05241
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt02142
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0132638
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0469833
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0442457
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0408822
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0433690
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0429831
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02184633
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt03839
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt06004
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt04461
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt07524
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt021828
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt014358
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt052683
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt058214
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt05241
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt02142
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0132638
IRS990ScheduleA/InvestmentIncomeCYPct00.03000
IRS990ScheduleA/InvestmentIncomePYPct00.03000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.96970
IRS990ScheduleA/PublicSupportPY509Pct00.96690
IRS990ScheduleA/PublicSupportTotal509Amt04250221
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01229101
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01085721
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0858981
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0538643
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0537775
IRS990ScheduleA/Total509Grp/TotalAmt04250221
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01243459
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01138404
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0917195
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0543884
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0539917
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04382859
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt04204655
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0916553
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05121208
IRS990ScheduleD/EquipmentGrp/BookValueAmt0141756
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0169896
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0311652
IRS990ScheduleD/ExpensesSubtotalAmt01109121
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt0200000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0200000
IRS990ScheduleD/RevenueSubtotalAmt01243459
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS TENANT SECURITY DEPOSITS IN ACCORDANCE WITH HUD REQUIRMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04546411
IRS990ScheduleD/TotalExpensesPerForm990Amt01109121
IRS990ScheduleD/TotalRevenuePerForm990Amt01243459
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01243459
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01109121
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,831,437
Liabilities
$9,065,820
Net assets
$2,765,617
Revenue
$1,243,459
Expenses
$1,109,121
Net income
$134,338
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