Civic Intelligence

495 Sterling Place Hdfc

EIN 11-2962487 • 501(c)3 • Brooklyn, NY

Profile

To provide affortable housing to persons and families of low income located at 495 Sterling Place, Brooklyn, NY.

665 Willoughby AvenueBrooklyn, NY 11206
Siviq Scores

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

Liabilities / Assets

98th percentile

5.63x

Higher debt load relative to assets than 98% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

97th percentile

2.58x

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

501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

12th percentile

-66%

Higher net margin than 12% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

91st percentile

91%

Faster asset growth than 91% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

65th percentile

11%

Faster revenue growth than 65% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Up

$105,823

Up $50,335 (+91%) from 2018

Liabilities

Up

$595,763

Up $202,045 (+51%) from 2018

Net Assets

Down

-$489,940

Down $151,710 (-45%) from 2018

Revenue

Up

$230,530

Up $22,187 (+11%) from 2018

Expenses

Up

$382,240

Up $6,884 (+1.8%) from 2018

Net Income

Up

-$151,710

Up $15,303 (+9.2%) from 2018

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2011: $117,173Liabilities 2011: $86,659Net Assets 2011: $30,5142011Assets 2012: $100,146Liabilities 2012: $84,604Net Assets 2012: $15,5422012Assets 2013: $42,621Liabilities 2013: $72,660Net Assets 2013: -$30,0392013Assets 2014: $76,943Liabilities 2014: $112,780Net Assets 2014: -$35,8372014Assets 2015: $130,954Liabilities 2015: $120,167Net Assets 2015: $10,7872015Assets 2016: $78,342Liabilities 2016: $180,712Net Assets 2016: -$102,3702016Assets 2017: $118,130Liabilities 2017: $289,347Net Assets 2017: -$171,2172017Assets 2018: $55,488Liabilities 2018: $393,718Net Assets 2018: -$338,2302018Assets 2019: $105,823Liabilities 2019: $595,763Net Assets 2019: -$489,9402019

Highlighted filing

2019

Assets$105,823
Liabilities$595,763
Net Assets-$489,940

Operations Trend

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

$400K$200K$0-$200KRevenue 2011: $148,865Expenses 2011: $255,324Net Income 2011: -$106,4592011Revenue 2012: $183,392Expenses 2012: $198,364Net Income 2012: -$14,9722012Revenue 2013: $165,734Expenses 2013: $211,315Net Income 2013: -$45,5812013Revenue 2014: $178,625Expenses 2014: $184,423Net Income 2014: -$5,7982014Revenue 2015: $203,618Expenses 2015: $156,994Net Income 2015: $46,6242015Revenue 2016: $217,202Expenses 2016: $330,359Net Income 2016: -$113,1572016Revenue 2017: $216,880Expenses 2017: $285,727Net Income 2017: -$68,8472017Revenue 2018: $208,343Expenses 2018: $375,356Net Income 2018: -$167,0132018Revenue 2019: $230,530Expenses 2019: $382,240Net Income 2019: -$151,7102019

Highlighted filing

2019

Revenue$230,530
Expenses$382,240
Net Income-$151,710

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 15, 2021
Return Version
2019v5.1
Gross Receipts
$230,530
Mission and Program Overview

Mission

To provide affortable housing to persons and families of low income located at 495 Sterling Place, Brooklyn, NY.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$43,299$90,661▲ $47,362
Prepaid Expenses and Deferred Charges$2,459$7,565▲ $5,106
Cash and Non-Interest-Bearing Accounts$4,565$975▼ $3,590
Total Assets$55,488$105,823▲ $50,335
Other Assets Total$5,165$6,622▲ $1,457
Liabilities
Other Liabilities$368,819$538,170▲ $169,351
Accounts Payable and Accrued Expenses$24,899$57,593▲ $32,694
Total Liabilities$393,718$595,763▲ $202,045
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-338,230$-489,940▼ $151,710
Total Net Assets Fund Balance$-338,230$-489,940▼ $151,710
Total Liabilities and Net Assets / Fund Balance$55,488$105,823▲ $50,335

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$1,767,595$1,767,595
Equipment-$35,059$35,059
Other Assets Org$2,827--
Compensation and Service Providers

Board Members and Trustees

NameTitle
AL McCLARYChairperson
Wendy McclintonExecutive Director
Phillip JonesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$230,530
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-151,710

Audited Revenue Reconciliation

Revenue per Audited Statements
$230,530
Total Revenue per Audited Statements
$230,530
Total Revenue per Form 990
$230,530
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$382,240
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
Other Expenses$85,300--$85,300
Fees for Services Management$54,164--$54,164
Insurance$19,808--$19,808
Fees for Services Legal$7,580--$7,580
Fees for Services Accounting$3,250--$3,250
Office Expenses$3,063--$3,063
Information Technology$1,482--$1,482
Total Functional Expenses$382,240$0$0$382,240

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$382,240
Total Expenses per Audited Statements$382,240
Total Expenses per Form 990$382,240
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
Federal income taxes$328,830
Tenants Security Deposits$194,043
Due to Affiliates$15,297
Accrued Real Estate Taxes-
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 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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Management reviews the 990 to obtain an understanding of the reporting requirements and to ensure it is accurate and complete. Subsequently, a copy of the draft 990 is provided to the board of directors for review. The board of directors will meet with management to discuss the 990 and resolve any questions that may arise. Upon approval from the board the 990 will be filed.

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

Board members, Officers and Employees report annually if a conflict appears to exist, management and the board will meet with the individual to obtain all facts. Subsequently, a vote will ensure if the matter is indeed a conflict of interest. If it is found to be a conflict of interest, the individual with the conflict of interest must refrain from participating in the deliberation and decision making concerning the matter that gave rise to the conflict.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
495 Sterling Place Hdfc
EIN
11-2962487
Phone
7188526004
Address
665 WILLOUGHBY AVENUE, BROOKLYN, NY 11206

Signing Officer

Name
Fritz Montfluery
Title
Director of Accounting
Signed
2021-09-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fritz Montfleury
Formed
1989
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Tyrone A Sellers CPA
Address
11503 Farmers Blvd, Saint Albans, NY 11412
Preparer
Tyrone Sellers
Phone
7183418770
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

Management reviews the audit to ensure it is accurate and complete. A copy of the draft audit is provided to the board of directors for review. The board of directors will meet with management to discuss the draft audit and resolve any questions that may arise. Upon approval from the board the draft audit will then be finalized.

Financial Statement Notes

X 2

495 Sterling is exempt from federal income taxes under Section 501c 3 of the Internal Revenue Code. 495 Sterling has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Periods ending December 31, 2016 and subsequent remain subject to examination by applicable taxing authorities.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Management reviews the 990 to obtain an understanding of the reporting requirements and to ensure it is accurate and complete. Subsequently, a copy of the draft 990 is provided to the board of directors for review. The board of directors will meet with management to discuss the 990 and resolve any questions that may arise. Upon approval from the board the 990 will be filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members, Officers and Employees report annually if a conflict appears to exist, management and the board will meet with the individual to obtain all facts. Subsequently, a vote will ensure if the matter is indeed a conflict of interest. If it is found to be a conflict of interest, the individual with the conflict of interest must refrain from participating in the deliberation and decision making concerning the matter that gave rise to the conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing documents, conflict of interest policy and financial statements are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management reviews the audit to ensure it is accurate and complete. A copy of the draft audit is provided to the board of directors for review. The board of directors will meet with management to discuss the draft audit and resolve any questions that may arise. Upon approval from the board the draft audit will then be finalized.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XII, Line 2c
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Affordable Housing
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0210 Hart Street HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt11078 Bedford HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2Resurrection Homes HDFC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3357 Greene General Partner Corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4Black Star Property Services
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5Nyumba General Partners LTD Inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt6Wazobia House Gen Ptnr Corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0665 Willoughby Ave
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0Affordable Housing
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0El Dorado LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt1357 Greene LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt2Veterans Quincy Associates LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt3Wazobia House Associates LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0665 Willoughby Ave
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt1665 Willoughby Ave
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt2665 Willoughby Ave

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