Civic Intelligence

Metacomet Homes Inc.

990 • Fiscal year 2019 • EIN 06-0868307

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 24, 2020

Organization ProfileN/A
PO Box 977East Granby, CT 06026

(860) 653-5123

Siviq Scores

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

Liabilities / Assets

95th percentile

1.28x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

2.40x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

31st percentile

-3.1%

Higher net margin than 31% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

15th percentile

-7.4%

Faster asset growth than 15% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

45th percentile

2.0%

Faster revenue growth than 45% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$1,157,462

Down $92,224 (-7.4%) from 2018

Net Assets

Down

-$318,416

Down $19,085 (-6.4%) from 2018

Liabilities

Down

$1,475,878

Down $73,139 (-4.7%) from 2018

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin31st percentile

Revenue

Up

$616,075

Up $12,144 (+2.0%) from 2018

Expenses

Down

$635,160

Down $15,379 (-2.4%) from 2018

Net Income

Up

-$19,085

Up $27,523 (+59%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $2,086,971Liabilities 2011: $1,909,566Net Assets 2011: $177,4052011Assets 2012: $1,942,980Liabilities 2012: $1,880,731Net Assets 2012: $62,2492012Assets 2013: $1,831,281Liabilities 2013: $1,833,232Net Assets 2013: -$1,9512013Assets 2014: $1,709,557Liabilities 2014: $1,783,876Net Assets 2014: -$74,3192014Assets 2015: $1,607,703Liabilities 2015: $1,731,544Net Assets 2015: -$123,8412015Assets 2016: $1,494,178Liabilities 2016: $1,673,489Net Assets 2016: -$179,3112016Assets 2017: $1,372,972Liabilities 2017: $1,625,695Net Assets 2017: -$252,7232017Assets 2018: $1,249,686Liabilities 2018: $1,549,017Net Assets 2018: -$299,3312018Assets 2019: $1,157,462Liabilities 2019: $1,475,878Net Assets 2019: -$318,4162019Assets 2020: $1,280,050Liabilities 2020: $1,475,753Net Assets 2020: -$195,7032020Assets 2021: $1,097,500Liabilities 2021: $1,324,773Net Assets 2021: -$227,2732021Assets 2022: $960,317Liabilities 2022: $1,219,644Net Assets 2022: -$259,3272022Assets 2023: $852,596Liabilities 2023: $1,116,856Net Assets 2023: -$264,2602023Assets 2024: $799,925Liabilities 2024: $1,026,412Net Assets 2024: -$226,4872024

Highlighted filing

2019

Assets$1,157,462
Liabilities$1,475,878
Net Assets-$318,416
Open 2019 Filing

Operations Trend

Revenue Growth45th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $73,235Expenses 2011: $160,097Net Income 2011: -$86,8622011Revenue 2012: $45,915Expenses 2012: $161,071Net Income 2012: -$115,1562012Revenue 2013: $96,635Expenses 2013: $160,835Net Income 2013: -$64,2002013Revenue 2014: $90,017Expenses 2014: $162,385Net Income 2014: -$72,3682014Revenue 2015: $117,274Expenses 2015: $166,796Net Income 2015: -$49,5222015Revenue 2016: $141,780Expenses 2016: $197,250Net Income 2016: -$55,4702016Revenue 2017: $585,590Expenses 2017: $659,002Net Income 2017: -$73,4122017Revenue 2018: $603,931Expenses 2018: $650,539Net Income 2018: -$46,6082018Revenue 2019: $616,075Expenses 2019: $635,160Net Income 2019: -$19,0852019Revenue 2020: $737,098Expenses 2020: $614,385Net Income 2020: $122,7132020Revenue 2021: $628,783Expenses 2021: $660,353Net Income 2021: -$31,5702021Revenue 2022: $660,077Expenses 2022: $692,131Net Income 2022: -$32,0542022Revenue 2023: $722,347Expenses 2023: $727,280Net Income 2023: -$4,9332023Revenue 2024: $748,763Expenses 2024: $710,990Net Income 2024: $37,7732024

Highlighted filing

2019

Revenue$616,075
Expenses$635,160
Net Income-$19,085
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 24, 2020
Return Version
2019v5.0
Gross Receipts
$616,075
Mission and Program Overview

Mission

To provide housing to moderate and low income elderly households.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$824,276$763,267▼ $61,009
Cash and Non-Interest-Bearing Accounts$106,074$95,411▼ $10,663
Savings and Temporary Cash Investments$15,787$16,670▲ $883
Prepaid Expenses and Deferred Charges$6,100$5,336▼ $764
Accounts Receivable$2,891$390▼ $2,501
Total Assets$1,249,686$1,157,462▼ $92,224
Other Assets Total$294,558$276,388▼ $18,170
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,483,221$1,409,628▼ $73,593
Other Liabilities$45,259$43,285▼ $1,974
Accounts Payable and Accrued Expenses$15,739$19,138▲ $3,399
Deferred Revenue$4,798$3,827▼ $971
Total Liabilities$1,549,017$1,475,878▼ $73,139
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-299,331$-318,416▼ $19,085
Total Net Assets Fund Balance$-299,331$-318,416▼ $19,085
Total Liabilities and Net Assets / Fund Balance$1,249,686$1,157,462▼ $92,224

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$311,022$2,656,487$2,967,509
Other Land Buildings$337,043$687,090$1,024,133
Equipment$13,867$208,357$222,224
Land$101,335-$101,335
Other Assets Org$13,035--
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
James HaydenPresident
Bradly WolfDirector
Janice GibsonDirector
Joan FroscioDirector
Mary Ellen BrownDirector
Nora MccloskeyDirector
Joan FroscioSecretary
William McgarryTreasurer
Clifford GibsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$150,197
Program Service Revenue
$461,130
Investment Income
$4,748
Other Revenue
$0
Change in Net Assets
$-19,085

Audited Revenue Reconciliation

Revenue per Audited Statements
$616,075
Total Revenue per Audited Statements
$616,075
Total Revenue per Form 990
$616,075
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$509,905
Salaries, Compensation, and Employee Benefits$125,255
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$116,812--$116,812
Other Salaries and Wages$51,037$56,827-$107,864
Insurance-$52,763-$52,763
Fees for Services Management-$51,420-$51,420
All Other Expenses$11,733$16,835-$28,568
Other Expenses$14,733--$14,733
Interest$11,359--$11,359
Payroll Taxes-$9,691-$9,691
Other Employee Benefits-$7,700-$7,700
Fees for Services Accounting-$6,800-$6,800
Fees for Services Legal-$2,701-$2,701
Advertising-$153-$153
Total Functional Expenses$430,270$204,890$0$635,160

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$635,160
Total Expenses per Audited Statements$635,160
Total Expenses per Form 990$635,160
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
Security Deposit Liability$43,285
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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

“Residential management corporation 110 mountain road suffield, ct 06078”

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

“Form 990 is provided to the board for review and is then signed by one of the officers.”

Form 990, Page 6, Part VI, Line 19

“Information is available at the management agent's office upon request.”

Filing and Contact Details

Filer

Filer Name
Metacomet Homes Inc
EIN
06-0868307
Phone
8606535123
Address
PO BOX 977, EAST GRANBY, CT 06026
Doing Business As
Metacomet Homes

Signing Officer

Name
James Hayden
Title
President
Phone
8606535123
Signed
2020-03-24

Organization Details

Principal Officer
James Hayden
Formed
1971
Legal Domicile
Ct
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Hoyt Filippetti & Malaghan LLC
Address
1041 POQUONNOCK RD, GROTON, CT 06340-4211
Preparer
Paul R Filippetti
Phone
8605369685
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Metacomet homes, inc. Is a non-stock, non-profit corporation, which is exempt from federal and state income taxes on exempt function income as a public charity under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes has been made in the accompanying financial statements. The organization did not recognize any liability for uncertain tax positions as defined by accounting principles generally accepted in the united states of america.”

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2INSURANCE ESCROW ACCOUNT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT LIABILITY
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0METACOMET HOMES, INC. IS A NON-STOCK, NON-PROFIT CORPORATION, WHICH IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON EXEMPT FUNCTION INCOME AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION DID NOT RECOGNIZE ANY LIABILITY FOR UNCERTAIN TAX POSITIONS AS DEFINED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RESIDENTIAL MANAGEMENT CORPORATION 110 MOUNTAIN ROAD SUFFIELD, CT 06078
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND IS THEN SIGNED BY ONE OF THE OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INFORMATION IS AVAILABLE AT THE MANAGEMENT AGENT'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990/USAddress/AddressLine1Txt0SAME AS ABOVE
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ReturnHeader/BuildTS02020-11-06 18:47:13Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES HAYDEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08606535123
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-24

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,157,462
Liabilities
$1,475,878
Net assets
-$318,416
Revenue
$616,075
Expenses
$635,160
Net income
-$19,085
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$1.03$0.23$0.75$0.71$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.85$1.12$0.26$0.72$0.73$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.96$1.22$0.26$0.66$0.69$0.03
2021Detailed filing. Detailed filing data is available for this year.$1.10$1.32$0.23$0.63$0.66$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.28$1.48$0.20$0.74$0.61$0.12
2019Detailed filing. Detailed filing data is available for this year.$1.16$1.48$0.32$0.62$0.64$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.25$1.55$0.30$0.60$0.65$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.37$1.63$0.25$0.59$0.66$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.49$1.67$0.18$0.14$0.20$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.61$1.73$0.12$0.12$0.17$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.71$1.78$0.07$0.09$0.16$0.07
2013Summary only. Only limited summary data is available for this year.$1.83$1.83$0.00$0.10$0.16$0.06
2012Summary only. Only limited summary data is available for this year.$1.94$1.88$0.06$0.05$0.16$0.12
2011Summary only. Only limited summary data is available for this year.$2.09$1.91$0.18$0.07$0.16$0.09