Civic Intelligence

Wartburg Housing Development Fund Corporation

990 • Fiscal year 2014 • EIN 11-3051052

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 02, 2015

277 North Avenue No 201New Rochelle, NY 10801-5123

(914) 365-6365

Siviq Scores

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

Liabilities / Assets

88th percentile

1.46x

Higher debt load relative to assets than 88% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

58th percentile

3.41x

Higher debt load relative to revenue than 58% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Source year 2014

Net Margin

37th percentile

-18%

Higher net margin than 37% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

96th percentile

$470,745

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 44.1% of source-year revenue.

2014 filings • NTEE L • $1M-$5M nonprofits • Source year 2014

Asset Growth

10th percentile

-8.1%

Faster asset growth than 10% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

56th percentile

2.2%

Faster revenue growth than 56% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Down

$2,500,755

Down $219,708 (-8.1%) from 2013

Net Assets

Down

-$1,145,163

Down $18,202 (-1.6%) from 2013

Liabilities

Down

$3,645,918

Down $201,506 (-5.2%) from 2013

Revenue

Up

$1,067,744

Up $23,073 (+2.2%) from 2013

Expenses

Down

$1,260,376

Down $32,436 (-2.5%) from 2013

Net Income

Up

-$192,632

Up $55,509 (+22%) from 2013

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $3,420,178Liabilities 2010: $4,539,850Net Assets 2010: -$1,119,6722010Assets 2011: $3,077,702Liabilities 2011: $4,353,253Net Assets 2011: -$1,275,5512011Assets 2012: $2,926,657Liabilities 2012: $3,979,907Net Assets 2012: -$1,053,2502012Assets 2013: $2,720,463Liabilities 2013: $3,847,424Net Assets 2013: -$1,126,9612013Assets 2014: $2,500,755Liabilities 2014: $3,645,918Net Assets 2014: -$1,145,1632014Assets 2015: $2,626,215Liabilities 2015: $3,601,393Net Assets 2015: -$975,1782015Assets 2016: $2,840,756Liabilities 2016: $3,813,251Net Assets 2016: -$972,4952016Assets 2017: $2,539,503Liabilities 2017: $3,306,935Net Assets 2017: -$767,4322017Assets 2018: $2,319,850Liabilities 2018: $3,158,527Net Assets 2018: -$838,6772018Assets 2019: $2,265,366Liabilities 2019: $3,112,971Net Assets 2019: -$847,6052019Assets 2020: $2,455,076Liabilities 2020: $3,007,143Net Assets 2020: -$552,0672020Assets 2021: $2,345,187Liabilities 2021: $2,978,841Net Assets 2021: -$633,6542021Assets 2022: $2,308,484Liabilities 2022: $3,135,882Net Assets 2022: -$827,3982022Assets 2023: $2,235,130Liabilities 2023: $3,256,297Net Assets 2023: -$1,021,1672023Assets 2024: $2,074,115Liabilities 2024: $3,156,769Net Assets 2024: -$1,082,6542024

Highlighted filing

2014

Assets$2,500,755
Liabilities$3,645,918
Net Assets-$1,145,163

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $1,059,7362010Expenses 2011: $1,071,2312011Expenses 2012: $1,019,1662012Revenue 2013: $1,044,671Expenses 2013: $1,292,812Net Income 2013: -$248,1412013Revenue 2014: $1,067,744Expenses 2014: $1,260,376Net Income 2014: -$192,6322014Revenue 2015: $1,078,827Expenses 2015: $1,170,617Net Income 2015: -$91,7902015Revenue 2016: $1,039,486Expenses 2016: $1,211,233Net Income 2016: -$171,7472016Revenue 2017: $1,254,057Expenses 2017: $1,223,424Net Income 2017: $30,6332017Revenue 2018: $1,064,381Expenses 2018: $1,310,056Net Income 2018: -$245,6752018Revenue 2019: $1,398,710Expenses 2019: $1,407,638Net Income 2019: -$8,9282019Revenue 2020: $1,771,433Expenses 2020: $1,475,895Net Income 2020: $295,5382020Revenue 2021: $1,475,098Expenses 2021: $1,556,685Net Income 2021: -$81,5872021Revenue 2022: $1,357,614Expenses 2022: $1,551,358Net Income 2022: -$193,7442022Revenue 2023: $1,520,132Expenses 2023: $1,713,901Net Income 2023: -$193,7692023Revenue 2024: $1,660,608Expenses 2024: $1,722,095Net Income 2024: -$61,4872024

Highlighted filing

2014

Revenue$1,067,744
Expenses$1,260,376
Net Income-$192,632
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 2, 2015
Return Version
2014v5.0
Gross Receipts
$1,067,744
Mission and Program Overview

Mission

To provide low income housing to the senior/elderly population.

To provide housing for low income and indigent people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,500,334$2,342,505▼ $157,829
Prepaid Expenses and Deferred Charges$26,591$26,331▼ $260
Cash and Non-Interest-Bearing Accounts$4,653$17,034▲ $12,381
Accounts Receivable$4,531$6,227▲ $1,696
Total Assets$2,720,463$2,500,755▼ $219,708
Other Assets Total$184,354$108,658▼ $75,696
Liabilities
Other Liabilities$3,746,076$3,548,745▼ $197,331
Accounts Payable and Accrued Expenses$101,348$97,173▼ $4,175
Total Liabilities$3,847,424$3,645,918▼ $201,506
Net Assets / Fund Balance
Unrestricted Net Assets$-1,126,961$-1,145,163▼ $18,202
Total Net Assets Fund Balance$-1,126,961$-1,145,163▼ $18,202
Total Liabilities and Net Assets / Fund Balance$2,720,463$2,500,755▼ $219,708

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,171,527$5,066,495$7,238,022
Equipment$117,580$129,390$246,970
Land$43,500-$43,500
Other Land Buildings$9,898$16,065$25,963
Compensation and Service Providers

Board Members and Trustees

NameTitle
John MeslohChair
Frank TripodiPresident/CEO
Alec DavisBoard Member
Anna May KnowlesBoard Member
Annette BallBoard Member
Arthur UprightBoard Member
Barbara RazakBoard Member
Chris JonesBoard Member
Fr Brian McweeneyBoard Member
John RuthBoard Member
John ShaneBoard Member
K Costley-hoke MdBoard Member
Lynette TaylorBoard Member
Peter MazerBoard Member
Richard OlsonBoard Member
Laraine FellegaraChief Financial Officer
Thomas KeonSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
US Security Associates INCSecurity ServicesPO BOX 931703, Atlanta, GA 31193$115,672
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,062,429
Investment Income
$293
Other Revenue
$5,022
Change in Net Assets
$-192,632

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,067,744
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$174,430
Total Revenue per Audited Statements
$1,242,174
Total Revenue per Form 990
$1,067,744
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,122,600
Salaries, Compensation, and Employee Benefits$137,776
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$316,004$1,428-$317,432
Depreciation Depletion$246,279--$246,279
Insurance$102,376--$102,376
Other Salaries and Wages$70,139$29,468-$99,607
Fees for Services Management-$62,118-$62,118
Office Expenses$39,956$7,923-$47,879
Fees for Services Accounting-$27,574-$27,574
Other Employee Benefits$23,255--$23,255
Payroll Taxes$11,691--$11,691
Fees for Services Other-$8,052-$8,052
Interest$4,235--$4,235
Pension Plan Contributions$3,223--$3,223
Other Expenses$48,926$900-$900
Conferences and Meetings$441$231-$672
Fees for Services Legal-$485-$485
Total Functional Expenses$1,078,429$181,947$0$1,260,376

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,260,376
Total Expenses per Audited Statements$1,260,376
Total Expenses per Form 990$1,260,376
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Capital Advances$3,110,669
Due to Related Parties$415,470
Tenant Security Deposits$22,606
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization has delegated the cfo and ceo functions to the lutheran care network, inc. ,its sole member.

Form 990, Part VI, Section A, Line 6

The lutheran care network, inc. Is the sole member.

Form 990, Part VI, Section A, Line 7A

The lutheran care network, inc. Elects the members of the board of directors of the organization.

Form 990, Part VI, Section A, Line 7B

The lutheran care network, inc. [the sole member] shall approve the following actions: (1) amendment of the by-laws; (2) incurring debt in excess of $100,000; (3) initiation of any activity requiring a certificate of need; and (4) establishing a subsidiary or otherwise affiliating with any other entity.

Form 990, Part VI, Section B, Line 11

A copy of form 990 is provided to the board prior to filing.

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

The board of directors monitors and enforces compliance with the conflict of interest policy as needed.

Form 990, Part VI, Section B, Line 15

The organization does not have any key employees or compensate any officers. If compensation were to be paid, the board of directors of the organization would review and approve compensation of officers and key employees on a yearly basis.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Wartburg Housing Development Fund Corporation
EIN
11-3051052
Phone
9143656365
Address
277 NORTH AVENUE NO 201, NEW ROCHELLE, NY 10801-5123

Signing Officer

Name
Laraine Fellegara
Title
CFO
Phone
9143656365
Signed
2015-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Tripodi
Formed
1990
Legal Domicile
Ny
Voting Board Members
16
Independent Board Members
15
Employees
3
Volunteers
15

Preparer

Firm
Bonadio & Co Llp
Address
6 WEMBLEY COURT, ALBANY, NY 12205
Preparer
John C Olsen
Phone
5184644080
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Amortization of capital advance 174,430.

FORM 990, PART XII, LINE 2C:

There has been no change in the process for reviewing audited financial statements or the selection of an independent auditor.

Financial Statement Notes

PART X, LINE 2:

Financial statement footnote 2, income taxes, includes a disclosure related to uncertain tax positions under fin 48. The text related to the organization's liability is as follows: for tax exempt entities, their tax exempt status itself is deemed to be an uncertainty, since events could potentially occur to jeopardize their tax exempt status. As of december 31, 2014. The company does not have a liability for unrecognized tax benefits. The company files income tax returns in the u.s. Federal jurisdiction and new york state. The company is no longer subject to u.s. Federal and state income tax examinations by tax authorities for years before 2011.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Amortization of capital advance 174,430.

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IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt16CHIEF FINANCIAL OFFICER
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE LOW INCOME HOUSING TO THE SENIOR/ELDERLY POPULATION.
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IRS990/OfficeExpensesGrp/TotalAmt047879
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt023255
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IRS990/OtherExpensesGrp/Desc0CONTRACTS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt112372
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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0528
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01083
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0780
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01062429
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01059434
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0728604
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IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99100
IRS990ScheduleA/PublicSupportPY509Pct00.98630
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01036384
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01059434
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0728604
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0730454
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01067744
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01044671
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0744473
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0735718
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04659265
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02171527
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05066495
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07238022
IRS990ScheduleD/EquipmentGrp/BookValueAmt0117580
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0129390
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0246970
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01260376

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.07$3.16$1.08$1.66$1.72$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.24$3.26$1.02$1.52$1.71$0.19
2022Detailed filing. Detailed filing data is available for this year.$2.31$3.14$0.83$1.36$1.55$0.19
2021Detailed filing. Detailed filing data is available for this year.$2.35$2.98$0.63$1.48$1.56$0.08
2020Detailed filing. Detailed filing data is available for this year.$2.46$3.01$0.55$1.77$1.48$0.30
2019Detailed filing. Detailed filing data is available for this year.$2.27$3.11$0.85$1.40$1.41$0.01
2018Detailed filing. Detailed filing data is available for this year.$2.32$3.16$0.84$1.06$1.31$0.25
2017Detailed filing. Detailed filing data is available for this year.$2.54$3.31$0.77$1.25$1.22$0.03
2016Detailed filing. Detailed filing data is available for this year.$2.84$3.81$0.97$1.04$1.21$0.17
2015Detailed filing. Detailed filing data is available for this year.$2.63$3.60$0.98$1.08$1.17$0.09
2014Detailed filing. Detailed filing data is available for this year.$2.50$3.65$1.15$1.07$1.26$0.19
2013Detailed filing. Detailed filing data is available for this year.$2.72$3.85$1.13$1.04$1.29$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.93$3.98$1.05$1.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.08$4.35$1.28$1.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.42$4.54$1.12$1.06
Peer Organizations

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