Civic Intelligence

Augustana Homes Inc

EIN 06-6085508 • 501(c)3 • Bridgeport, CT

Profile

To provide affordable housing, for assisted (congregate services) living, for the low income elderly.

238 Jewett AvenueBridgeport, CT 06606

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

71st percentile

0.14x

Higher debt load relative to assets than 71% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.08x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

26th percentile

-7.8%

Higher net margin than 26% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

18th percentile

-12%

Faster asset growth than 18% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

52nd percentile

7.8%

Faster revenue growth than 52% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Down

$0

Down $520,995 (-100%) from 2023

Liabilities

Down

$0

Down $71,610 (-100%) from 2023

Net Assets

Down

$0

Down $449,385 (-100%) from 2023

Revenue

Up

$902,487

Up $27,015 (+3.1%) from 2023

Expenses

Up

$1,011,294

Up $67,347 (+7.1%) from 2023

Net Income

Down

-$108,807

Down $40,332 (-59%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $2,742,057Liabilities 2010: $235,744Net Assets 2010: $2,506,3132010Assets 2011: $2,748,414Liabilities 2011: $258,396Net Assets 2011: $2,490,0182011Assets 2012: $2,259,183Liabilities 2012: $191,880Net Assets 2012: $2,067,3032012Assets 2013: $2,188,619Liabilities 2013: $205,275Net Assets 2013: $1,983,3442013Assets 2014: $2,063,340Liabilities 2014: $153,601Net Assets 2014: $1,909,7392014Assets 2015: $1,621,832Liabilities 2015: $128,564Net Assets 2015: $1,493,2682015Assets 2016: $1,124,570Liabilities 2016: $102,418Net Assets 2016: $1,022,1522016Assets 2018: $1,263,804Liabilities 2018: $407,660Net Assets 2018: $856,1442018Assets 2020: $848,152Liabilities 2020: $133,339Net Assets 2020: $714,8132020Assets 2021: $690,851Liabilities 2021: $53,896Net Assets 2021: $636,9552021Assets 2022: $590,353Liabilities 2022: $72,493Net Assets 2022: $517,8602022Assets 2023: $520,995Liabilities 2023: $71,610Net Assets 2023: $449,3852023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2024

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $1,288,689Expenses 2010: $1,383,724Net Income 2010: -$95,0352010Revenue 2011: $1,310,998Expenses 2011: $1,327,293Net Income 2011: -$16,2952011Revenue 2012: $1,331,648Expenses 2012: $1,304,363Net Income 2012: $27,2852012Revenue 2013: $1,329,166Expenses 2013: $1,413,125Net Income 2013: -$83,9592013Revenue 2014: $1,423,414Expenses 2014: $1,497,019Net Income 2014: -$73,6052014Revenue 2015: $4,368,085Expenses 2015: $1,426,676Net Income 2015: $2,941,4092015Revenue 2016: $715,398Expenses 2016: $802,203Net Income 2016: -$86,8052016Revenue 2018: $774,729Expenses 2018: $838,252Net Income 2018: -$63,5232018Revenue 2020: $783,569Expenses 2020: $859,664Net Income 2020: -$76,0952020Revenue 2021: $823,979Expenses 2021: $901,837Net Income 2021: -$77,8582021Revenue 2022: $812,211Expenses 2022: $931,306Net Income 2022: -$119,0952022Revenue 2023: $875,472Expenses 2023: $943,947Net Income 2023: -$68,4752023Revenue 2024: $902,487Expenses 2024: $1,011,294Net Income 2024: -$108,8072024

Highlighted filing

2024

Revenue$902,487
Expenses$1,011,294
Net Income-$108,807

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Nov 6, 2024
Signed
Apr 9, 2025
Return Version
2024v5.1
Gross Receipts
$902,487
Mission and Program Overview

Mission

To provide affordable housing, for assisted (congregate services) living, for the low income elderly.

To provide affordable housing, both independent and assisted (congregate services) living, for the low income elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$322,786$0▼ $322,786
Prepaid Expenses and Deferred Charges$21,333$0▼ $21,333
Cash and Non-Interest-Bearing Accounts$17,466$0▼ $17,466
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$520,995$0▼ $520,995
Other Assets Total$159,410$0▼ $159,410
Liabilities
Accounts Payable and Accrued Expenses$71,217$0▼ $71,217
Deferred Revenue$393$0▼ $393
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$71,610$0▼ $71,610
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$449,385$0▼ $449,385
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$449,385$0▼ $449,385
Total Liabilities and Net Assets / Fund Balance$520,995$0▼ $520,995
Compensation and Service Providers

Employees

NameTitleOtherTotal
Bishop Frank J CaggianoPresident$62,401$62,401
Rev Robert KinnallyVice President$3,050$3,050

Board Members and Trustees

NameTitle
Michael HanlonChief Financial Officer
Anne O MccrorySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$489,741
Program Service Revenue
$412,746
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-108,807

Audited Revenue Reconciliation

Revenue per Audited Statements
$902,487
Total Revenue per Audited Statements
$902,487
Total Revenue per Form 990
$902,487
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,011,294
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$200,461$47,912-$248,373
Occupancy$80,944--$80,944
Depreciation Depletion$63,496--$63,496
Fees for Services Management-$37,800-$37,800
Fees for Services Accounting-$31,016-$31,016
Other Expenses$28,701--$28,701
Insurance$16,104--$16,104
Advertising-$9,521-$9,521
Total Functional Expenses$885,045$126,249$0$1,011,294

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,011,294
Total Expenses per Audited Statements$1,011,294
Total Expenses per Form 990$1,011,294
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Augustana Homes Inc
EIN
06-6085508
In Care Of
% MICHAEL HANLON
Phone
2034161390
Address
238 Jewett Avenue, Bridgeport, CT 06606

Signing Officer

Name
Michael Hanlon
Title
CFO
Phone
2034161390
Signed
2025-04-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Hanlon
Formed
1964
Legal Domicile
Ct
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
4

Preparer

Firm
Nanavaty Davenport Studley White
Address
123 South Main St Suite 140, Newtown, CT 06470
Preparer
Glenn J Nanavaty
Phone
2034268500
Supplemental Narrative

Additional Explanations

Form 990

Part VI, Line 6 - Classes of members or Stockholders. Members, as the organization is a not-for-profit, Connecticut non-stock corporation. Part VI, Line 7A - Election of members and their rights. Members elect the directors of the corporation. Part VI, Line 7B - Decisions subject to approval of members. Final decisions regarding (A) Purchase, sale, or lease of land and buildings; (B) Sale, gift, or other disposition of capital assets of the corporation; (C) Appointment or discharge of the chief administrative officer of the corporation; (D) Dissolution of the corporation. Part VI, Line 11B - Organization's process to review form 990. Form 990 was prepared by the organization's CPA firm and reviewed in detail by the organizations Chief Financial Officer. The completed form 990 was provided to the organization's directors for their review. Part VI, Line 19 - Governing documents disclosure explanation. Audited financial statements and governing documents made available for inspection upon request.

Part XI Line 9 Other Changes

Other changes are loss from disposition upon dissolution. The project assets were sold on june 24, 2024 for $2.

Form 990 Part IX Line 24 - Other Expenses

Description:operating and maintenance total expenses:127605 program services:127605

Form 990 Part IX Line 24 - Other Expenses

Description:congregate expenses total expenses:27861 program services:27861

Form 990 Part IX Line 24 - Other Expenses

Description:project bookkeeping total expenses:28500 program services:management and general:28500

Form 990 Part IX Line 24 - Other Expenses

Description:contract services - office total expenses:20968 program services:1652 management and general:19316

Form 990 Part IX Line 24 - Other Expenses

Description:other contract services total expenses:11121 program services:11025 management and general:96

Form 990 Part IX Line 24 - Other Expenses

Description:social services total expenses:32318 program services:32318

Financial Statement Notes

Part X, FIN 48 Footnote

Augustana Homes, Inc., is exempt from income taxes under Section 501(a) of the Internal Revenue Code as an organization described under Section 501(c)(3) except to the extent it has taxable income from activities unrelated to its exempt purpose. No provision for income taxes was required for 2023 or 2022. The Organization recognizes the benefits of income tax positions only if those positions are more likely than not of being sustained. The Organization is subject to routine audits by the Internal Revenue Service. There are currently no audits for any tax periods in progress and the Organization believes that it is no longer subject to audits for years prior to 2021.

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IRS990/ProgramServiceRevenueGrp/Desc0RENT FROM TENANTS
IRS990/ProgramServiceRevenueGrp/Desc1TENANT SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2SUNDRY INCOME
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1200859
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt27983
IRS990/ProgSrvcAccomActy2Grp/Desc0Congregate (meals, housekeeping, and personal) services for residents of 44 assisted living apartment units subsidized by the Connecticut Department of Housing for the low income elderly.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Augustana Homes, Inc., is exempt from income taxes under Section 501(a) of the Internal Revenue Code as an organization described under Section 501(c)(3) except to the extent it has taxable income from activities unrelated to its exempt purpose. No provision for income taxes was required for 2023 or 2022. The Organization recognizes the benefits of income tax positions only if those positions are more likely than not of being sustained. The Organization is subject to routine audits by the Internal Revenue Service. There are currently no audits for any tax periods in progress and the Organization believes that it is no longer subject to audits for years prior to 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, FIN 48 Footnote
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IRS990ScheduleD/TotalLiabilityAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Anne O Mccrory
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Michael Hanlon
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Secretary
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1Chief Financial Officer
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1268850
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(c)(3)
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm0BETHEL CONGREGATE CORPORATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt025 REYNOLDS RIDGE ROAD
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0BETHEL
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0CT
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd006801
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Part VI, Line 6 - Classes of members or Stockholders. Members, as the organization is a not-for-profit, Connecticut non-stock corporation. Part VI, Line 7A - Election of members and their rights. Members elect the directors of the corporation. Part VI, Line 7B - Decisions subject to approval of members. Final decisions regarding (A) Purchase, sale, or lease of land and buildings; (B) Sale, gift, or other disposition of capital assets of the corporation; (C) Appointment or discharge of the chief administrative officer of the corporation; (D) Dissolution of the corporation. Part VI, Line 11B - Organization's process to review form 990. Form 990 was prepared by the organization's CPA firm and reviewed in detail by the organizations Chief Financial Officer. The completed form 990 was provided to the organization's directors for their review. Part VI, Line 19 - Governing documents disclosure explanation. Audited financial statements and governing documents made available for inspection upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OTHER CHANGES ARE LOSS FROM DISPOSITION UPON DISSOLUTION. THE PROJECT ASSETS WERE SOLD ON JUNE 24, 2024 FOR $2.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION:OPERATING AND MAINTENANCE TOTAL EXPENSES:127605 PROGRAM SERVICES:127605
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION:CONGREGATE EXPENSES TOTAL EXPENSES:27861 PROGRAM SERVICES:27861

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