Civic Intelligence

Metacomet Homes Inc.

990 • Fiscal year 2018 • EIN 06-0868307

Jan 01, 2018 to Dec 31, 2018 • Filed on May 01, 2019

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

94th percentile

1.24x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

92nd percentile

2.56x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

23rd percentile

-7.7%

Higher net margin than 23% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

15th percentile

-9.0%

Faster asset growth than 15% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

3.1%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$1,249,686

Down $123,286 (-9.0%) from 2017

Net Assets

Down

-$299,331

Down $46,608 (-18%) from 2017

Liabilities

Down

$1,549,017

Down $76,678 (-4.7%) from 2017

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin23rd percentile

Revenue

Up

$603,931

Up $18,341 (+3.1%) from 2017

Expenses

Down

$650,539

Down $8,463 (-1.3%) from 2017

Net Income

Up

-$46,608

Up $26,804 (+37%) from 2017

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

2018

Assets$1,249,686
Liabilities$1,549,017
Net Assets-$299,331
Open 2018 Filing

Operations Trend

Revenue Growth48th 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

2018

Revenue$603,931
Expenses$650,539
Net Income-$46,608
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 1, 2019
Return Version
2018v3.1
Gross Receipts
$603,931
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$948,623$824,276▼ $124,347
Cash and Non-Interest-Bearing Accounts$111,956$106,074▼ $5,882
Savings and Temporary Cash Investments$14,140$15,787▲ $1,647
Prepaid Expenses and Deferred Charges$6,016$6,100▲ $84
Accounts Receivable$9$2,891▲ $2,882
Other Notes and Loans Receivable, Net$192--
Total Assets$1,372,972$1,249,686▼ $123,286
Other Assets Total$292,036$294,558▲ $2,522
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,550,960$1,483,221▼ $67,739
Other Liabilities$43,400$45,259▲ $1,859
Accounts Payable and Accrued Expenses$26,777$15,739▼ $11,038
Deferred Revenue$4,558$4,798▲ $240
Total Liabilities$1,625,695$1,549,017▼ $76,678
Net Assets / Fund Balance
Unrestricted Net Assets$-252,723$-299,331▼ $46,608
Total Net Assets Fund Balance$-252,723$-299,331▼ $46,608
Total Liabilities and Net Assets / Fund Balance$1,372,972$1,249,686▼ $123,286

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$399,556$2,541,350$2,940,906
Other Land Buildings$323,385$686,287$1,009,672
Equipment-$207,485$207,485
Land$101,335-$101,335
Other Assets Org$10,334--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
James HaydenPresident
Bill McgarryDirector
Brad WolfDirector
Janice GibsonDirector
Mary Ellen BrownDirector
Tom MalloyDirector
Joan FroscioSecretary
Nora MccloskeyTreasurer
Cliff GibsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$154,642
Program Service Revenue
$445,926
Investment Income
$3,363
Other Revenue
$0
Change in Net Assets
$-46,608

Audited Revenue Reconciliation

Revenue per Audited Statements
$603,931
Total Revenue per Audited Statements
$603,931
Total Revenue per Form 990
$603,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$535,678
Salaries, Compensation, and Employee Benefits$114,861
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$128,265--$128,265
Other Salaries and Wages$46,894$51,492-$98,386
Insurance-$55,398-$55,398
Fees for Services Management-$55,168-$55,168
All Other Expenses$23,058$6,987-$30,045
Other Expenses$27,156--$27,156
Fees for Services Legal-$15,727-$15,727
Interest$11,951--$11,951
Payroll Taxes-$9,949-$9,949
Fees for Services Accounting-$6,961-$6,961
Other Employee Benefits-$6,526-$6,526
Advertising-$146-$146
Total Functional Expenses$442,185$208,354$0$650,539

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$650,539
Total Expenses per Audited Statements$650,539
Total Expenses per Form 990$650,539
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$45,259
Governance and Compliance

Governance Checklist

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

“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
2019-05-01

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/BuildingsGrp/BookValueAmt0399556
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0207485
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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/Amt045259
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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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0294558
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IRS990/ScheduleORequiredInd0true
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/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0SAME AS ABOVE
IRS990/USAddress/CityNm0EAST GRANBY
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006026
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES HAYDEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08606535123
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0METACOMET HOMES INC
ReturnHeader/Filer/BusinessNameControlTxt0META
ReturnHeader/Filer/EIN0060868307
ReturnHeader/Filer/PhoneNum08606535123
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 977
ReturnHeader/Filer/USAddress/CityNm0EAST GRANBY
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ReturnHeader/Filer/USAddress/ZIPCd006026

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,249,686
Liabilities
$1,549,017
Net assets
-$299,331
Revenue
$603,931
Expenses
$650,539
Net income
-$46,608
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