Civic Intelligence

Federation Homes Inc.

990 • Fiscal year 2016 • EIN 06-1019012

Oct 01, 2015 to Sep 30, 2016 • Filed on Jul 14, 2017

Organization ProfileN/A

View Organization Page

C/O VESTA 175 powder forest drWeatogue, CT 06089

(860) 325-1700

Siviq Scores

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

Liabilities / Assets

97th percentile

1.66x

Higher debt load relative to assets than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

92nd percentile

2.92x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

33rd percentile

-3.1%

Higher net margin than 33% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

75th percentile

$116,529

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 6.6% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

21st percentile

-5.1%

Faster asset growth than 21% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

5.7%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$3,113,232

Down $166,447 (-5.1%) from 2015

Net Assets

Down

-$2,052,416

Down $55,188 (-2.8%) from 2015

Liabilities

Down

$5,165,648

Down $111,259 (-2.1%) from 2015

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin33rd percentile

Revenue

Up

$1,768,621

Up $96,100 (+5.7%) from 2015

Expenses

Up

$1,823,809

Up $2,309 (+0.1%) from 2015

Net Income

Up

-$55,188

Up $93,791 (+63%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $3,751,086Liabilities 2011: $5,549,684Net Assets 2011: -$1,798,5982011Assets 2012: $3,610,549Liabilities 2012: $5,364,142Net Assets 2012: -$1,753,5932012Assets 2013: $3,521,675Liabilities 2013: $5,288,597Net Assets 2013: -$1,766,9222013Assets 2014: $3,361,697Liabilities 2014: $5,209,946Net Assets 2014: -$1,848,2492014Assets 2015: $3,279,679Liabilities 2015: $5,276,907Net Assets 2015: -$1,997,2282015Assets 2016: $3,113,232Liabilities 2016: $5,165,648Net Assets 2016: -$2,052,4162016Assets 2017: $2,857,163Liabilities 2017: $4,885,515Net Assets 2017: -$2,028,3522017Assets 2018: $2,699,425Liabilities 2018: $4,721,324Net Assets 2018: -$2,021,8992018Assets 2019: $2,589,155Liabilities 2019: $4,632,007Net Assets 2019: -$2,042,8522019Assets 2020: $2,519,520Liabilities 2020: $4,491,763Net Assets 2020: -$1,972,2432020Assets 2021: $2,610,672Liabilities 2021: $4,389,898Net Assets 2021: -$1,779,2262021Assets 2022: $2,590,440Liabilities 2022: $4,132,773Net Assets 2022: -$1,542,3332022Assets 2023: $2,671,687Liabilities 2023: $4,081,122Net Assets 2023: -$1,409,4352023Assets 2024: $3,394,946Liabilities 2024: $4,118,066Net Assets 2024: -$723,1202024Assets 2025: $3,933,128Liabilities 2025: $4,001,761Net Assets 2025: -$68,6332025

Highlighted filing

2016

Assets$3,113,232
Liabilities$5,165,648
Net Assets-$2,052,416
Open 2016 Filing

Operations Trend

Revenue Growth57th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,622,959Expenses 2011: $1,589,463Net Income 2011: $33,4962011Expenses 2012: $1,579,8892012Revenue 2013: $1,707,732Expenses 2013: $1,721,061Net Income 2013: -$13,3292013Revenue 2014: $1,694,688Expenses 2014: $1,776,015Net Income 2014: -$81,3272014Revenue 2015: $1,672,521Expenses 2015: $1,821,500Net Income 2015: -$148,9792015Revenue 2016: $1,768,621Expenses 2016: $1,823,809Net Income 2016: -$55,1882016Revenue 2017: $1,779,246Expenses 2017: $1,755,182Net Income 2017: $24,0642017Revenue 2018: $1,764,761Expenses 2018: $1,758,308Net Income 2018: $6,4532018Revenue 2019: $1,797,432Expenses 2019: $1,818,385Net Income 2019: -$20,9532019Revenue 2020: $1,821,809Expenses 2020: $1,751,200Net Income 2020: $70,6092020Revenue 2021: $1,902,276Expenses 2021: $1,709,259Net Income 2021: $193,0172021Revenue 2022: $1,948,509Expenses 2022: $1,711,616Net Income 2022: $236,8932022Revenue 2023: $1,963,898Expenses 2023: $1,831,000Net Income 2023: $132,8982023Revenue 2024: $2,414,358Expenses 2024: $2,003,384Net Income 2024: $410,9742024Revenue 2025: $2,724,060Expenses 2025: $2,069,573Net Income 2025: $654,4872025

Highlighted filing

2016

Revenue$1,768,621
Expenses$1,823,809
Net Income-$55,188
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Jul 14, 2017
Return Version
2015v3.0
Gross Receipts
$1,768,621
Mission and Program Overview

Mission

The goal of federation homes is to provide a safe, secure home with supportive staff; to promote independence; and to offer a diversified educational, cultural, and social calendar of activities and programs to enhance quality of life for our residents. (see schedule o) our mission is to support our residents' desire to remain in the community for as long as possible.

The organization's exempt purpose is to provide affordable housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,413,105$2,199,053▼ $214,052
Cash and Non-Interest-Bearing Accounts$144,769$186,380▲ $41,611
Accounts Receivable$28,443$33,762▲ $5,319
Prepaid Expenses and Deferred Charges$18,850$21,205▲ $2,355
Intangible Assets-$0-
Total Assets$3,279,679$3,113,232▼ $166,447
Other Assets Total$674,512$672,832▼ $1,680
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,974,573$4,795,800▼ $178,773
Accounts Payable and Accrued Expenses$256,219$324,962▲ $68,743
Other Liabilities$46,115$44,886▼ $1,229
Total Liabilities$5,276,907$5,165,648▼ $111,259
Net Assets / Fund Balance
Unrestricted Net Assets$-1,997,228$-2,052,416▼ $55,188
Total Net Assets Fund Balance$-1,997,228$-2,052,416▼ $55,188
Total Liabilities and Net Assets / Fund Balance$3,279,679$3,113,232▼ $166,447

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,998,926$5,781,658$7,780,584
Land$200,127-$200,127
Other Assets Org$121,757--
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jonathan ReinerSecretaryFT$101,329$15,200$116,529

Board Members and Trustees

NameTitle
Alec BobrowChairmAN
david n sasportasPresident
carl mandell1st vice president
brenda p delgado2nd vice president
David GindendIRECTOR
Lucy Anne HurstondIRECTOR
Stanley CohendIRECTOR
maurice jenningsdIRECTOR
richard welkdIRECTOR
ruthan weindIRECTOR
victor bernsteindIRECTOR
Revenue and Support

Revenue Composition

Contributions and Grants
$1,353,782
Program Service Revenue
$414,390
Investment Income
$449
Other Revenue
$0
All Other Contributions
$480
Change in Net Assets
$-55,188

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,768,621
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$17,967
Total Revenue per Audited Statements
$1,786,588
Total Revenue per Form 990
$1,768,621
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,385,806
Salaries, Compensation, and Employee Benefits$438,003
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$290,795--$290,795
Depreciation Depletion$288,423--$288,423
Interest$249,135--$249,135
Other Salaries and Wages$241,650--$241,650
Current Officers, Directors, Trustees, and Key Employees$111,731--$111,731
Insurance$103,695--$103,695
Fees for Services Management-$99,127-$99,127
Office Expenses$85,909--$85,909
Other Employee Benefits$54,483--$54,483
Advertising$31,396--$31,396
Payroll Taxes$30,139--$30,139
Fees for Services Accounting$16,196--$16,196
Other Expenses$13,622--$13,622
Fees for Services Legal$5,260--$5,260
Total Functional Expenses$1,724,682$99,127$0$1,823,809

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,841,776
Expenses per Audited Statements$1,823,809
Total Expenses per Form 990$1,823,809
Expenses Not Reported on Form 990$17,967
Expenses Not Reported on Financial Statements$0
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
Resident Security Deposit$36,734
Prepaid Revenue$8,152
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The organization engages a real estate property management company to manage the physical property and to perform bookkeeping services. Additionally the board hires an executive director independent of the management company who along with his staff (also independent of the management company), supervises the day to day operations of the site.”

Form 990, Part VI, Section B, line 11

“The form 990 is reviewed by both the management agent and the executive director and the 1st Vice President/Chair of the finance committee prior to filing. Additionally a copy is distributed to all members of the executive and finance committee prior to filing.”

Form 990, Part VI, Section B, line 12C

“Each director, officer, employee and volunteer shall be provided with and asked to review a copy of the Conflict of Interest Policy and to acknowledge in writing that he or she has done so. Annually each director, officer, employee and volunteer shall complete a disclosure form identifying any relationships, positions or circumstances in which s/he is involved that he or she believes could contribute to a Conflict of Interest. This policy shall be reviewed annually by each member of the Board of Directors. Any changes to the policy shall be communicated to all staff and volunteers.”

Form 990, Part VI, Section B, line 15B

“The responsibilities of the top financial manager are accomplished through the engagement of a property management agent whose fee must be approved by the US Dept of HUD. The salary of the executive director is reviewed and approved by the finance committee and executive committee annually as part of the budgetting process.”

Form 990, Part VI, Section C, line 19

“Form 990 is available on guidestar. Form 1023 is available upon request.”

Filing and Contact Details

Filer

Filer Name
Federation Homes Inc
EIN
06-1019012
Phone
8603251700
Address
C/O VESTA 175 powder forest dr, WEATOGUE, CT 06089

Signing Officer

Name
Jonathan Reiner
Title
Executive Director
Phone
8602432535
Signed
2017-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jonathan E Reiner
Formed
1978
Legal Domicile
Ct
Voting Board Members
12
Independent Board Members
11
Employees
4
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
350 CHURCH STREET 12TH FLOOR, HARTFORD, CT 06103
Preparer
Joseph Sparveri
Phone
9592007000
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“There have been no changes made to the organization's oversight or selection process during the tax year.”

Financial Statement Notes

Part IV, Line 2B:

“The organization holds security deposits for rented units”

Part X, Line 2:

“The Corporation has no unrecognized tax benefits at September 30, 2016. The Organization's Federal income tax returns prior to fiscal year 2012 are closed and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. If applicable, the Corporation would recognize interest and penalties associated with tax matters as part of taxes and insurance expenses in the statement of activities and include accrued interest and penalties in accrued expenses in the statement of financial position. The Corporation did not recognize any interest or penalties associated with tax matters for the year ended September 30, 2016.”

Part XI, Line 2D - Other Adjustments:

“Rent free unit reflected in total revenues per audit 17,967.”

Part XII, Line 2D - Other Adjustments:

“Rent free unit reflected in total revenues & total expenses per audit 17,967.”

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IRS990/LandBldgEquipAccumDeprecAmt05781658
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02413105
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02199053
IRS990/LandBldgEquipCostOrOtherBssAmt07980711
IRS990/LegalDomicileStateCd0CT
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The goal of Federation Homes is to provide a safe, secure home with supportive staff; to promote independence; and to offer a diversified educational, cultural, and social calendar of activities and programs to enhance quality of life for our residents. Our mission is to support our residents' desire to remain in the community for as long as possible.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt04974573
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt04795800
IRS990/NetAssetsOrFundBalancesBOYAmt0-1997228
IRS990/NetAssetsOrFundBalancesEOYAmt0-2052416
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0290795
IRS990/OccupancyGrp/TotalAmt0290795
IRS990/OfficeExpensesGrp/ProgramServicesAmt085909
IRS990/OfficeExpensesGrp/TotalAmt085909
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0674512
IRS990/OtherAssetsTotalGrp/EOYAmt0672832
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt054483
IRS990/OtherEmployeeBenefitsGrp/TotalAmt054483
IRS990/OtherExpensesGrp/Desc0repairs & maintenance
IRS990/OtherExpensesGrp/Desc1snow removal
IRS990/OtherExpensesGrp/Desc2RUBBISH REMOVAL
IRS990/OtherExpensesGrp/Desc3SECURITY SYSTEM EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt0164795
IRS990/OtherExpensesGrp/ProgramServicesAmt121298
IRS990/OtherExpensesGrp/ProgramServicesAmt216155
IRS990/OtherExpensesGrp/ProgramServicesAmt313622
IRS990/OtherExpensesGrp/TotalAmt0164795
IRS990/OtherExpensesGrp/TotalAmt121298
IRS990/OtherExpensesGrp/TotalAmt216155
IRS990/OtherExpensesGrp/TotalAmt313622
IRS990/OtherLiabilitiesGrp/BOYAmt046115
IRS990/OtherLiabilitiesGrp/EOYAmt044886
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0241650
IRS990/OtherSalariesAndWagesGrp/TotalAmt0241650
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt030139
IRS990/PayrollTaxesGrp/TotalAmt030139
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt018850
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt021205
IRS990/PrincipalOfficerNm0Jonathan E Reiner
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0414390
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0414390
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01270760
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0334
IRS990/PYOtherExpensesAmt01414580
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0401427
IRS990/PYRevenuesLessExpensesAmt0-148979
IRS990/PYSalariesCompEmpBnftPaidAmt0406920
IRS990/PYTotalExpensesAmt01821500
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01672521
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-55188
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0414390
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0forgiveness of debt - 2012 Amount: $ 47,960.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part II, Line 10, Explanation of Other Income:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01353782
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01270760
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01311293
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01266826
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01265000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06467661
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0449
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0334
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0473
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0525
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0598
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02379
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01950456
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt047960
IRS990ScheduleA/OtherIncome170Grp/TotalAmt047960
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99230
IRS990ScheduleA/PublicSupportPY170Pct00.99180
IRS990ScheduleA/PublicSupportTotal170Amt06467661
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01353782
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01270760
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01311293
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01266826
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01265000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06467661
IRS990ScheduleA/TotalSupportAmt06518000
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BeginningBalanceAmt036889
IRS990ScheduleD/BuildingsGrp/BookValueAmt01998926
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05781658
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07780584
IRS990ScheduleD/DistributionsDuringYearAmt0155
IRS990ScheduleD/EndingBalanceAmt036734
IRS990ScheduleD/ExpensesNotReportedAmt017967
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01823809
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0200127
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0200127
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0130348
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1383778
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt236949
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3121757
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MORTGAGE ESCROW DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVE FOR REPLACEMENT & residual receipts
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3financing costs
IRS990ScheduleD/OtherExpensesIncludedAmt017967
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt036734
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18152
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RESIDENT SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID REVENUE
IRS990ScheduleD/OtherRevenueAmt017967
IRS990ScheduleD/RevenueNotReportedAmt017967
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01768621
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization holds security deposits for rented units
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Corporation has no unrecognized tax benefits at September 30, 2016. The Organization's Federal income tax returns prior to fiscal year 2012 are closed and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. If applicable, the Corporation would recognize interest and penalties associated with tax matters as part of taxes and insurance expenses in the statement of activities and include accrued interest and penalties in accrued expenses in the statement of financial position. The Corporation did not recognize any interest or penalties associated with tax matters for the year ended September 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Rent free unit reflected in total revenues per audit 17,967.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Rent free unit reflected in total revenues & total expenses per audit 17,967.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02199053
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0672832
IRS990ScheduleD/TotalExpensesPerForm990Amt01823809
IRS990ScheduleD/TotalLiabilityAmt044886
IRS990ScheduleD/TotalRevenuePerForm990Amt01768621
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01786588
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01841776
IRS990ScheduleJ/AnyNonFixedPaymentsInd01
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0EXECUTIVE DIRECTOR WAS PAID A $7000 2015 CALENDAR YEAR BOARD APPROVED BONUS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 7
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization engages a real estate property management company to manage the physical property and to perform bookkeeping services. Additionally the board hires an executive director independent of the management company who along with his staff (also independent of the management company), supervises the day to day operations of the site.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The form 990 is reviewed by both the management agent and the executive director and the 1st Vice President/Chair of the finance committee prior to filing. Additionally a copy is distributed to all members of the executive and finance committee prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Each director, officer, employee and volunteer shall be provided with and asked to review a copy of the Conflict of Interest Policy and to acknowledge in writing that he or she has done so. Annually each director, officer, employee and volunteer shall complete a disclosure form identifying any relationships, positions or circumstances in which s/he is involved that he or she believes could contribute to a Conflict of Interest. This policy shall be reviewed annually by each member of the Board of Directors. Any changes to the policy shall be communicated to all staff and volunteers.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The responsibilities of the top financial manager are accomplished through the engagement of a property management agent whose fee must be approved by the US Dept of HUD. The salary of the executive director is reviewed and approved by the finance committee and executive committee annually as part of the budgetting process.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990 is available on guidestar. Form 1023 is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THERE HAVE BEEN NO CHANGES MADE TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,113,232
Liabilities
$5,165,648
Net assets
-$2,052,416
Revenue
$1,768,621
Expenses
$1,823,809
Net income
-$55,188
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.93$4.00$0.07$2.72$2.07$0.65
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$4.12$0.72$2.41$2.00$0.41
2023Detailed filing. Detailed filing data is available for this year.$2.67$4.08$1.41$1.96$1.83$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.59$4.13$1.54$1.95$1.71$0.24
2021Detailed filing. Detailed filing data is available for this year.$2.61$4.39$1.78$1.90$1.71$0.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.52$4.49$1.97$1.82$1.75$0.07
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.59$4.63$2.04$1.80$1.82$0.02
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.70$4.72$2.02$1.76$1.76$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.86$4.89$2.03$1.78$1.76$0.02
2016Detailed filing. Detailed filing data is available for this year.$3.11$5.17$2.05$1.77$1.82$0.06
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.28$5.28$2.00$1.67$1.82$0.15
2014Detailed filing. Detailed filing data is available for this year.$3.36$5.21$1.85$1.69$1.78$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.52$5.29$1.77$1.71$1.72$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.61$5.36$1.75$1.58
2011Summary only. Only limited summary data is available for this year.$3.75$5.55$1.80$1.62$1.59$0.03