Civic Intelligence

Bywater Mutual Homes Inc.

990 • Fiscal year 2016 • EIN 13-0816700

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 10, 2017

Refreshing map…

911 C Royal StreetAnnapolis, MD 21401

(410) 268-1428

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.76x

Higher debt load relative to assets than 82% of similar nonprofits.

2016 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

82nd percentile

2.20x

Higher debt load relative to revenue than 82% of similar nonprofits.

2016 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2016

Net Margin

27th percentile

-0.6%

Higher net margin than 27% of similar nonprofits.

2016 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2016 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2016

Asset Growth

24th percentile

-3.1%

Faster asset growth than 24% of similar nonprofits.

2016 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

38th percentile

0.2%

Faster revenue growth than 38% of similar nonprofits.

2016 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Down

$9,347,225

Down $301,890 (-3.1%) from 2015

Net Assets

Down

$2,255,302

Down $16,463 (-0.7%) from 2015

Liabilities

Down

$7,091,923

Down $285,427 (-3.9%) from 2015

Revenue

Up

$3,224,152

Up $6,802 (+0.2%) from 2015

Expenses

Down

$3,243,910

Down $527,043 (-14%) from 2015

Net Income

Up

-$19,758

Up $533,845 (+96%) from 2015

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $10,169,184Liabilities 2011: $8,055,349Net Assets 2011: $2,113,8352011Assets 2012: $10,247,931Liabilities 2012: $7,720,932Net Assets 2012: $2,526,9992012Assets 2013: $10,282,689Liabilities 2013: $7,492,212Net Assets 2013: $2,790,4772013Assets 2014: $10,246,267Liabilities 2014: $7,413,916Net Assets 2014: $2,832,3512014Assets 2015: $9,649,115Liabilities 2015: $7,377,350Net Assets 2015: $2,271,7652015Assets 2016: $9,347,225Liabilities 2016: $7,091,923Net Assets 2016: $2,255,3022016Assets 2017: $11,207,158Liabilities 2017: $8,615,623Net Assets 2017: $2,591,5352017Assets 2018: $11,378,495Liabilities 2018: $8,438,718Net Assets 2018: $2,939,7772018Assets 2019: $11,437,811Liabilities 2019: $8,259,736Net Assets 2019: $3,178,0752019Assets 2020: $11,961,689Liabilities 2020: $8,357,206Net Assets 2020: $3,604,4832020Assets 2021: $12,107,107Liabilities 2021: $8,129,842Net Assets 2021: $3,977,2652021Assets 2022: $12,033,415Liabilities 2022: $7,999,438Net Assets 2022: $4,033,9772022Assets 2023: $12,268,750Liabilities 2023: $7,927,926Net Assets 2023: $4,340,8242023Assets 2024: $12,298,242Liabilities 2024: $7,679,900Net Assets 2024: $4,618,3422024

Highlighted filing

2016

Assets$9,347,225
Liabilities$7,091,923
Net Assets$2,255,302

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $2,919,0092011Expenses 2012: $2,960,4502012Revenue 2013: $3,268,909Expenses 2013: $2,999,286Net Income 2013: $269,6232013Revenue 2014: $3,229,739Expenses 2014: $3,184,082Net Income 2014: $45,6572014Revenue 2015: $3,217,350Expenses 2015: $3,770,953Net Income 2015: -$553,6032015Revenue 2016: $3,224,152Expenses 2016: $3,243,910Net Income 2016: -$19,7582016Revenue 2017: $3,339,759Expenses 2017: $3,003,522Net Income 2017: $336,2372017Revenue 2018: $3,329,376Expenses 2018: $2,981,138Net Income 2018: $348,2382018Revenue 2019: $3,580,165Expenses 2019: $3,341,867Net Income 2019: $238,2982019Revenue 2020: $3,494,031Expenses 2020: $3,071,997Net Income 2020: $422,0342020Revenue 2021: $3,595,230Expenses 2021: $3,213,365Net Income 2021: $381,8652021Revenue 2022: $3,450,471Expenses 2022: $3,359,958Net Income 2022: $90,5132022Revenue 2023: $3,599,752Expenses 2023: $3,317,953Net Income 2023: $281,7992023Revenue 2024: $4,122,630Expenses 2024: $3,853,408Net Income 2024: $269,2222024

Highlighted filing

2016

Revenue$3,224,152
Expenses$3,243,910
Net Income-$19,758
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 10, 2017
Return Version
2016v3.0
Gross Receipts
$3,224,152
Mission and Program Overview

Mission

To provide affordable cooperative housing in accordance with section 236 of the national housing act.

To provide housing to low income families as a hud cooperative

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,591,580$8,328,444▼ $263,136
Prepaid Expenses and Deferred Charges$94,584$96,118▲ $1,534
Accounts Receivable$19,933$20,125▲ $192
Cash and Non-Interest-Bearing Accounts$15,866$9,984▼ $5,882
Total Assets$9,649,115$9,347,225▼ $301,890
Other Assets Total$927,152$892,554▼ $34,598
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,046,956$6,893,985▼ $152,971
Accounts Payable and Accrued Expenses$317,942$182,387▼ $135,555
Deferred Revenue$12,452$15,551▲ $3,099
Total Liabilities$7,377,350$7,091,923▼ $285,427
Net Assets / Fund Balance
Unrestricted Net Assets$2,271,765$2,255,302▼ $16,463
Total Net Assets Fund Balance$2,271,765$2,255,302▼ $16,463
Total Liabilities and Net Assets / Fund Balance$9,649,115$9,347,225▼ $301,890

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,994,143$9,331,832$17,325,975
Land$328,600-$328,600
Equipment$5,701$78,112$83,813
Other Assets Org$858,986--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Deneice FisherPresident
Alma Cropper1st Vice President
Carol Speaks2nd Vice President
Betty WrightSecretary
Lynne EdwardsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Quantum Real Estate Management LLCManagement5101 RIVER ROAD, Bethesda, MD 20816$153,176
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,214,019
Investment Income
$2,616
Other Revenue
$7,517
Change in Net Assets
$-19,758

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,224,152
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,224,152
Total Revenue per Form 990
$3,224,152
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,243,910
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
Occupancy$1,028,314--$1,028,314
Depreciation Depletion$325,545--$325,545
Fees for Services Management-$153,176-$153,176
Other Expenses$54,174--$54,174
Fees for Services Other$40,000--$40,000
All Other Expenses$8,888$28,837-$37,725
Office Expenses$822$28,316-$29,138
Insurance$22,849--$22,849
Fees for Services Legal-$18,165-$18,165
Fees for Services Accounting-$17,706-$17,706
Advertising-$8,197-$8,197
Total Functional Expenses$2,989,513$254,397$0$3,243,910

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,243,910
Total Expenses per Audited Statements$3,243,910
Total Expenses per Form 990$3,243,910
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The property is managed by quantum real estate management, llc. Pursuant to a management agreement approved by hud. The fee is 5% of gross collections of the project. The fee is capped at $41.47 per unit per month. For the year ended december 31, 2016, management fees were $153,176.

Form 990, Part VI, Section A, Line 6

The property was developed as a hud assisted cooperative where the members have a limited equity return as set forth in regulation.

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

The board receives a copy of the return prior to filing. No additional review was or will be conducted.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial statements available to the public upon request. Additionally, the financial statements are filed with the omb under the a-133 provisions and are available on the omb website.

Filing and Contact Details

Filer

Filer Name
Bywater Mutual Homes Inc
EIN
13-0816700
Phone
4102681428
Address
911 C ROYAL STREET, ANNAPOLIS, MD 21401

Signing Officer

Name
Deneice Fisher
Title
President
Phone
4439940240
Signed
2017-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deneice Fisher
Formed
1970
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
PKF O'CONNOR DAVIES LLP
Address
665 FIFTH AVENUE, NEW YORK, NY 10022
Preparer
Garrett M Higgins
Phone
2122862600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in paid in surplus 3,295.

Financial Statement Notes

PART X, LINE 2:

The entity recognizes the effect of tax positions only when they are more likely than not to be sustained. Management has determined that the corporation had no uncertain tax positions that would require financial statement recognition or disclosure. The entity is no longer subject to u.s. Federal, state or local income tax examinations for periods prior to decemeber 31, 2013.

Raw XML Appendix372 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03243910
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0328600
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0328600
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt033568
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1858986
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED FINANCING COSTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESTRICTED DEPOSITS AND FUNDED RESERVES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03224152
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENTITY RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ENTITY IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS FOR PERIODS PRIOR TO DECEMEBER 31, 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08328444
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0892554
IRS990ScheduleD/TotalExpensesPerForm990Amt03243910
IRS990ScheduleD/TotalRevenuePerForm990Amt03224152
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03224152
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03243910
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROPERTY IS MANAGED BY QUANTUM REAL ESTATE MANAGEMENT, LLC. PURSUANT TO A MANAGEMENT AGREEMENT APPROVED BY HUD. THE FEE IS 5% OF GROSS COLLECTIONS OF THE PROJECT. THE FEE IS CAPPED AT $41.47 PER UNIT PER MONTH. FOR THE YEAR ENDED DECEMBER 31, 2016, MANAGEMENT FEES WERE $153,176.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PROPERTY WAS DEVELOPED AS A HUD ASSISTED COOPERATIVE WHERE THE MEMBERS HAVE A LIMITED EQUITY RETURN AS SET FORTH IN REGULATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD RECEIVES A COPY OF THE RETURN PRIOR TO FILING. NO ADDITIONAL REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, THE FINANCIAL STATEMENTS ARE FILED WITH THE OMB UNDER THE A-133 PROVISIONS AND ARE AVAILABLE ON THE OMB WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CHANGE IN PAID IN SURPLUS 3,295.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt09649115
IRS990/TotalAssetsEOYAmt09347225
IRS990/TotalAssetsGrp/BOYAmt09649115
IRS990/TotalAssetsGrp/EOYAmt09347225
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0254397
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02989513
IRS990/TotalFunctionalExpensesGrp/TotalAmt03243910
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07377350
IRS990/TotalLiabilitiesEOYAmt07091923
IRS990/TotalLiabilitiesGrp/BOYAmt07377350
IRS990/TotalLiabilitiesGrp/EOYAmt07091923
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02271765
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02255302
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02989513
IRS990/TotalProgramServiceRevenueAmt03214019
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt010133
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03214019
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03224152
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09649115
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09347225
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02271765
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02255302
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01914-H COPELAND STREET
IRS990/USAddress/CityNm0ANNAPOLIS
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021401
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DENEICE FISHER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04439940240
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BYWATER MUTUAL HOMES INC
ReturnHeader/Filer/BusinessNameControlTxt0BYWA
ReturnHeader/Filer/EIN0130816700
ReturnHeader/Filer/PhoneNum04102681428
ReturnHeader/Filer/USAddress/AddressLine1Txt0911 C ROYAL STREET
ReturnHeader/Filer/USAddress/CityNm0ANNAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021401
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08A7C0DB4DD280915B974BAAB9C167C028E1A982B
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0919FFC66B950D93A3B2C258D519D829A961B6EE3
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt065.51.112.58
ReturnHeader/FilingSecurityInformation/IPDt02017-11-10
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm011:52:51
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271728945
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PKF O'CONNOR DAVIES LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0665 FIFTH AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010022
ReturnHeader/PreparerPersonGrp/PhoneNum02122862600
ReturnHeader/PreparerPersonGrp/PreparationDt02017-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GARRETT M HIGGINS
ReturnHeader/ReturnTs02017-11-10T12:17:28-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.3$7.68$4.62$4.12$3.85$0.27
2023Detailed filing. Detailed filing data is available for this year.$12.3$7.93$4.34$3.60$3.32$0.28
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$8.00$4.03$3.45$3.36$0.09
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$8.13$3.98$3.60$3.21$0.38
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.0$8.36$3.60$3.49$3.07$0.42
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$8.26$3.18$3.58$3.34$0.24
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.4$8.44$2.94$3.33$2.98$0.35
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.2$8.62$2.59$3.34$3.00$0.34
2016Detailed filing. Detailed filing data is available for this year.$9.35$7.09$2.26$3.22$3.24$0.02
2015Detailed filing. Detailed filing data is available for this year.$9.65$7.38$2.27$3.22$3.77$0.55
2014Detailed filing. Detailed filing data is available for this year.$10.2$7.41$2.83$3.23$3.18$0.05
2013Detailed filing. Detailed filing data is available for this year.$10.3$7.49$2.79$3.27$3.00$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$7.72$2.53$2.96
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$8.06$2.11$2.92