Civic Intelligence

Federation Homes Inc.

990 • Fiscal year 2017 • EIN 06-1019012

Oct 01, 2016 to Sep 30, 2017 • Filed on Aug 14, 2018

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

1.71x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

92nd percentile

2.75x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

45th percentile

1.4%

Higher net margin than 45% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

80th percentile

$131,344

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 7.4% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

13th percentile

-8.2%

Faster asset growth than 13% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

39th percentile

0.6%

Faster revenue growth than 39% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$2,857,163

Down $256,069 (-8.2%) from 2016

Net Assets

Up

-$2,028,352

Up $24,064 (+1.2%) from 2016

Liabilities

Down

$4,885,515

Down $280,133 (-5.4%) from 2016

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin45th percentile

Revenue

Up

$1,779,246

Up $10,625 (+0.6%) from 2016

Expenses

Down

$1,755,182

Down $68,627 (-3.8%) from 2016

Net Income

Up

$24,064

Up $79,252 (+144%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth13th 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

2017

Assets$2,857,163
Liabilities$4,885,515
Net Assets-$2,028,352
Open 2017 Filing

Operations Trend

Revenue Growth39th 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

2017

Revenue$1,779,246
Expenses$1,755,182
Net Income$24,064
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Aug 14, 2018
Return Version
2016v3.0
Gross Receipts
$1,779,246
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$2,199,053$2,038,397▼ $160,656
Cash and Non-Interest-Bearing Accounts$186,380$179,434▼ $6,946
Prepaid Expenses and Deferred Charges$21,205$22,171▲ $966
Accounts Receivable$33,762$15,990▼ $17,772
Total Assets$3,113,232$2,857,163▼ $256,069
Other Assets Total$672,832$601,171▼ $71,661
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,795,800$4,644,683▼ $151,117
Accounts Payable and Accrued Expenses$324,962$198,197▼ $126,765
Other Liabilities$44,886$42,635▼ $2,251
Total Liabilities$5,165,648$4,885,515▼ $280,133
Net Assets / Fund Balance
Unrestricted Net Assets$-2,052,416$-2,028,352▲ $24,064
Total Net Assets Fund Balance$-2,052,416$-2,028,352▲ $24,064
Total Liabilities and Net Assets / Fund Balance$3,113,232$2,857,163▼ $256,069

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,838,270$5,593,979$7,432,249
Equipment$0$483,441$483,441
Land$200,127-$200,127
Other Assets Org$40,005--
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jonathan ReinerSecretaryFT$119,068$12,276$131,344

Board Members and Trustees

NameTitle
Alec BobrowChairmAN
david n sasportasPresident
carl mandell1st vice president
brenda p delgado2nd vice president
David GindendIRECTOR
Dolorse PertillardIRECTOR
Jan RosenthaldIRECTOR
Jane UrbandIRECTOR
maurice jenningsdIRECTOR
richard welkdIRECTOR
ruthan weindIRECTOR
victor bernsteindIRECTOR
Lucy Anne HurstonOutgoing dIRECTOR
Revenue and Support

Revenue Composition

Contributions and Grants
$1,383,433
Program Service Revenue
$395,310
Investment Income
$503
Other Revenue
$0
All Other Contributions
$100
Change in Net Assets
$24,064

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,779,246
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$17,416
Total Revenue per Audited Statements
$1,796,662
Total Revenue per Form 990
$1,779,246
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,316,654
Salaries, Compensation, and Employee Benefits$438,528
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$300,306--$300,306
Occupancy$298,911--$298,911
Other Salaries and Wages$215,816--$215,816
Interest$166,306--$166,306
Current Officers, Directors, Trustees, and Key Employees$132,247--$132,247
Insurance$110,627--$110,627
Fees for Services Management-$101,296-$101,296
Office Expenses$76,270--$76,270
Other Employee Benefits$56,191--$56,191
Payroll Taxes$28,904--$28,904
Advertising$23,470--$23,470
Fees for Services Accounting$23,296--$23,296
Other Expenses$12,873--$12,873
Pension Plan Contributions$5,370--$5,370
Fees for Services Other$5,348--$5,348
Fees for Services Legal$304--$304
Total Functional Expenses$1,653,886$101,296$0$1,755,182

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,772,598
Expenses per Audited Statements$1,755,182
Total Expenses per Form 990$1,755,182
Expenses Not Reported on Form 990$17,416
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$36,635
Prepaid Revenue$6,000
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
Yes
Other officer compensation reviewed
No
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 11B

“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 15A

“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
2018-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jonathan E Reiner
Formed
1978
Legal Domicile
Ct
Voting Board Members
13
Independent Board Members
12
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 applied for and received a determination letter from the Internal Revenue Service ("IRS") to be treated as a tax exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended September 30, 2017. Due to its tax exempt status, the Corporation is not subject to income taxes. The Corporation is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure. Income tax returns filed by the Corporation are subject to examination by the IRS for a period of three years. While no income tax returns are currently being examined by the IRS, tax years since 2013 remain open.”

Part XI, Line 2D - Other Adjustments:

“Rent free unit reflected in total revenues per audit 17,416.”

Part XII, Line 2D - Other Adjustments:

“Rent free unit reflected in total revenues & total expenses per audit 17,416.”

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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GovernmentGrantsAmt01383333
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01779246
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt0110627
IRS990/InsuranceGrp/TotalAmt0110627
IRS990/InterestGrp/ProgramServicesAmt0166306
IRS990/InterestGrp/TotalAmt0166306
IRS990/InvestmentIncomeGrp/ExclusionAmt0503
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0503
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt019
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt06077420
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02199053
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02038397
IRS990/LandBldgEquipCostOrOtherBssAmt08115817
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/BOYAmt04795800
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt04644683
IRS990/NetAssetsOrFundBalancesBOYAmt0-2052416
IRS990/NetAssetsOrFundBalancesEOYAmt0-2028352
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0298911
IRS990/OccupancyGrp/TotalAmt0298911
IRS990/OfficeExpensesGrp/ProgramServicesAmt076270
IRS990/OfficeExpensesGrp/TotalAmt076270
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0672832
IRS990/OtherAssetsTotalGrp/EOYAmt0601171
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt056191
IRS990/OtherEmployeeBenefitsGrp/TotalAmt056191
IRS990/OtherExpensesGrp/Desc0repairs & maintenance
IRS990/OtherExpensesGrp/Desc1Snow removal
IRS990/OtherExpensesGrp/Desc2RUBBISH REMOVAL
IRS990/OtherExpensesGrp/Desc3SECURITY SYSTEM EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt0147383
IRS990/OtherExpensesGrp/ProgramServicesAmt133282
IRS990/OtherExpensesGrp/ProgramServicesAmt216982
IRS990/OtherExpensesGrp/ProgramServicesAmt312873
IRS990/OtherExpensesGrp/TotalAmt0147383
IRS990/OtherExpensesGrp/TotalAmt133282
IRS990/OtherExpensesGrp/TotalAmt216982
IRS990/OtherExpensesGrp/TotalAmt312873
IRS990/OtherLiabilitiesGrp/BOYAmt044886
IRS990/OtherLiabilitiesGrp/EOYAmt042635
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0215816
IRS990/OtherSalariesAndWagesGrp/TotalAmt0215816
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt028904
IRS990/PayrollTaxesGrp/TotalAmt028904
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt05370
IRS990/PensionPlanContributionsGrp/TotalAmt05370
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021205
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt022171
IRS990/PrincipalOfficerNm0Jonathan E Reiner
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0395310
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0395310
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01353782
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0449
IRS990/PYOtherExpensesAmt01385806
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0414390
IRS990/PYRevenuesLessExpensesAmt0-55188
IRS990/PYSalariesCompEmpBnftPaidAmt0438003
IRS990/PYTotalExpensesAmt01823809
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01768621
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt024064
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0395310
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0forgiveness of debt - 2012 Amount: $ 47,960.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part II, Line 10, Explanation of Other Income:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01383433
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01353782
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01270760
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01311293
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01266826
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06586094
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0503
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0449
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0334
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0473
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0525
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02284
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01986470
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt047960
IRS990ScheduleA/OtherIncome170Grp/TotalAmt047960
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99240
IRS990ScheduleA/PublicSupportPY170Pct00.99230
IRS990ScheduleA/PublicSupportTotal170Amt06586094
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01383433
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01353782
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01270760
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01311293
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01266826
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06586094
IRS990ScheduleA/TotalSupportAmt06636338
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/BeginningBalanceAmt036734
IRS990ScheduleD/BuildingsGrp/BookValueAmt01838270
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05593979
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07432249
IRS990ScheduleD/DistributionsDuringYearAmt099
IRS990ScheduleD/EndingBalanceAmt036635
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0483441
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0483441
IRS990ScheduleD/ExpensesNotReportedAmt017416
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01755182
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0200127
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0200127
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0126358
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1434808
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt240005
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MORTGAGE ESCROW DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVE FOR REPLACEMENT & residual receipts
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSIT
IRS990ScheduleD/OtherExpensesIncludedAmt017416
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt036635
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt16000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RESIDENT SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID REVENUE
IRS990ScheduleD/OtherRevenueAmt017416
IRS990ScheduleD/RevenueNotReportedAmt017416
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01779246
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization holds security deposits for rented units
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Corporation has applied for and received a determination letter from the Internal Revenue Service ("IRS") to be treated as a tax exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended September 30, 2017. Due to its tax exempt status, the Corporation is not subject to income taxes. The Corporation is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure. Income tax returns filed by the Corporation are subject to examination by the IRS for a period of three years. While no income tax returns are currently being examined by the IRS, tax years since 2013 remain open.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Rent free unit reflected in total revenues per audit 17,416.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Rent free unit reflected in total revenues & total expenses per audit 17,416.
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/TotalBookValueLandBuildingsAmt02038397
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0601171
IRS990ScheduleD/TotalExpensesPerForm990Amt01755182
IRS990ScheduleD/TotalLiabilityAmt042635
IRS990ScheduleD/TotalRevenuePerForm990Amt01779246
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01796662
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01772598
IRS990/ScheduleJRequiredInd00
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.

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,857,163
Liabilities
$4,885,515
Net assets
-$2,028,352
Revenue
$1,779,246
Expenses
$1,755,182
Net income
$24,064
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
2017Detailed filing. Detailed filing data is available for this year.$2.86$4.89$2.03$1.78$1.76$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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