Civic Intelligence

Asbury Terrace Housing & Development Fund Co Inc

990 • Fiscal year 2019 • EIN 13-2674233

May 01, 2018 to Apr 30, 2019 • Filed on Sep 03, 2019

5 West Main StreetElmsford, NY 10523

(914) 592-5434

Siviq Scores

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

Liabilities / Assets

61st percentile

0.16x

Higher debt load relative to assets than 61% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

77th percentile

0.42x

Higher debt load relative to revenue than 77% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

66th percentile

11%

Higher net margin than 66% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

37th percentile

-0.5%

Faster asset growth than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

42nd percentile

1.0%

Faster revenue growth than 42% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$4,537,067

Down $21,802 (-0.5%) from 2018

Net Assets

Up

$3,823,389

Up $180,698 (+5.0%) from 2018

Liabilities

Down

$713,678

Down $202,500 (-22%) from 2018

Revenue

Up

$1,688,251

Up $16,816 (+1.0%) from 2018

Expenses

Up

$1,507,553

Up $67,826 (+4.7%) from 2018

Net Income

Down

$180,698

Down $51,010 (-22%) from 2018

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$0Assets 2011: $2,010,032Liabilities 2011: $156,452Net Assets 2011: $1,853,5802011Assets 2012: $4,384,159Liabilities 2012: $2,013,197Net Assets 2012: $2,370,9622012Assets 2013: $4,727,354Liabilities 2013: $1,984,129Net Assets 2013: $2,743,2252013Assets 2014: $4,686,572Liabilities 2014: $1,718,525Net Assets 2014: $2,968,0472014Assets 2015: $4,596,973Liabilities 2015: $1,513,090Net Assets 2015: $3,083,8832015Assets 2016: $4,503,683Liabilities 2016: $1,317,013Net Assets 2016: $3,186,6702016Assets 2017: $4,527,635Liabilities 2017: $1,116,652Net Assets 2017: $3,410,9832017Assets 2018: $4,558,869Liabilities 2018: $916,178Net Assets 2018: $3,642,6912018Assets 2019: $4,537,067Liabilities 2019: $713,678Net Assets 2019: $3,823,3892019Assets 2020: $4,314,390Liabilities 2020: $474,679Net Assets 2020: $3,839,7112020

Highlighted filing

2019

Assets$4,537,067
Liabilities$713,678
Net Assets$3,823,389

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Expenses 2011: $1,085,7412011Expenses 2012: $1,089,9302012Revenue 2013: $1,626,898Expenses 2013: $1,254,634Net Income 2013: $372,2642013Revenue 2014: $1,589,624Expenses 2014: $1,364,802Net Income 2014: $224,8222014Revenue 2015: $1,573,131Expenses 2015: $1,457,295Net Income 2015: $115,8362015Revenue 2016: $1,576,399Expenses 2016: $1,473,612Net Income 2016: $102,7872016Revenue 2017: $1,649,106Expenses 2017: $1,424,793Net Income 2017: $224,3132017Revenue 2018: $1,671,435Expenses 2018: $1,439,727Net Income 2018: $231,7082018Revenue 2019: $1,688,251Expenses 2019: $1,507,553Net Income 2019: $180,6982019Revenue 2020: $1,699,218Expenses 2020: $1,682,896Net Income 2020: $16,3222020

Highlighted filing

2019

Revenue$1,688,251
Expenses$1,507,553
Net Income$180,698
Jump To
Filing Snapshot
Filing Period
May 1, 2018 to Apr 30, 2019
Signed
Sep 3, 2019
Return Version
2018v3.1
Gross Receipts
$1,688,251
Mission and Program Overview

Mission

activities related to 106 low income housing units supported by the us departmentof housing and urban development under the section 8 program

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,844,589$2,746,849▼ $97,740
Savings and Temporary Cash Investments$1,401,959$1,483,872▲ $81,913
Prepaid Expenses and Deferred Charges$97,320$67,306▼ $30,014
Accounts Receivable$3,365$26,844▲ $23,479
Intangible Assets$23,614$20,974▼ $2,640
Cash and Non-Interest-Bearing Accounts$27,164$10,515▼ $16,649
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$4,558,869$4,537,067▼ $21,802
Other Assets Total$160,858$180,707▲ $19,849
Liabilities
Mortgage Notes Payable Secured by Investment Property$801,084$583,501▼ $217,583
Other Liabilities$63,070$66,400▲ $3,330
Accounts Payable and Accrued Expenses$49,835$58,224▲ $8,389
Deferred Revenue$2,189$5,553▲ $3,364
Total Liabilities$916,178$713,678▼ $202,500
Net Assets / Fund Balance
Unrestricted Net Assets$3,642,691$3,823,389▲ $180,698
Total Net Assets Fund Balance$3,642,691$3,823,389▲ $180,698
Total Liabilities and Net Assets / Fund Balance$4,558,869$4,537,067▼ $21,802

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,638,794$1,323,401$3,962,195
Buildings-$2,776,435$2,776,435
Other Land Buildings$39,804$394,902$434,706
Equipment$1,251$171,564$172,815
Land$67,000-$67,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Sadie Mckeown-singmanPresident
mr john jollyVice President
william burnetteVice President
donald whitelymember
fred bossMember
leonard andrewMember
eugene f conroyrecording sec'y

Highest Paid Contractors

ContractorServicesLocationCompensation
Community Housing Management CorpManaging Agent5 WEST MAIN STREET, Elmsford, NY 10523$107,381
Revenue and Support

Revenue Composition

Contributions and Grants
$508,437
Program Service Revenue
$1,023,634
Investment Income
$1,187
Other Revenue
$154,993
Change in Net Assets
$180,698

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,688,251
Total Revenue per Audited Statements
$1,688,251
Total Revenue per Form 990
$1,688,251
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,278,217
Salaries, Compensation, and Employee Benefits$229,336
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$157,166--$157,166
Depreciation Depletion$144,604--$144,604
Fees for Services Management$107,580--$107,580
Other Employee Benefits$61,474--$61,474
Insurance$58,616--$58,616
Interest$33,188--$33,188
All Other Expenses$21,334--$21,334
Other Expenses$17,304--$17,304
Payroll Taxes$10,696--$10,696
Fees for Services Accounting$9,200--$9,200
Fees for Services Legal$4,851--$4,851
Office Expenses$3,120--$3,120
Fees for Services Other$3,092--$3,092
Total Functional Expenses$1,507,553$0$0$1,507,553

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,507,553
Total Expenses per Audited Statements$1,507,553
Total Expenses per Form 990$1,507,553
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Eugene F ConroySEC'Y/CFOManagement CompanyNo$107,381

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$66,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

eugene conroy is the sole shareholder of community housing management corp and secretary/treasurer of the organization.

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

board of trustees prepare and document minutes of meetings as required

Form 990, Part VI, Line 11B: Form 990 Review Process

the board of directors must approve the federal tax form 990 and the related state tax filings

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

after approval of the financial statements by the board of directors on an annual basis, the organization makes available all governance documents, policy statements, financial statements and tax returns to the publice, upon written request. the organization also timely files it annual char 500 report with the nys attorney general and all of its filings are made available through the nysoag charities website.

Filing and Contact Details

Filer

Filer Name
Asbury Terrace Housing Development
EIN
13-2674233
Phone
9145925434
Address
5 WEST MAIN STREET, ELMSFORD, NY 10523

Signing Officer

Name
eugene f conroy
Title
REC SEC'Y/CFO
Signed
2019-09-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
eugene f conroy
Formed
1968
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
8
Employees
4

Preparer

Firm
Palmetto Mollo Molinaro & Passarello Llp
Address
91 Broadhollow Road, Melville, NY 11747-2500
Preparer
Kenneth Krieger
Phone
6317618989
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IRS990/OtherExpensesGrp/Desc3SUPER RENT FREE UNIT
IRS990/OtherExpensesGrp/ProgramServicesAmt0360765
IRS990/OtherExpensesGrp/ProgramServicesAmt1266721
IRS990/OtherExpensesGrp/ProgramServicesAmt2247842
IRS990/OtherExpensesGrp/ProgramServicesAmt317304
IRS990/OtherExpensesGrp/TotalAmt0360765
IRS990/OtherExpensesGrp/TotalAmt1266721
IRS990/OtherExpensesGrp/TotalAmt2247842
IRS990/OtherExpensesGrp/TotalAmt317304
IRS990/OtherLiabilitiesGrp/BOYAmt063070
IRS990/OtherLiabilitiesGrp/EOYAmt066400
IRS990/OtherRevenueMiscGrp/BusinessCd0531110
IRS990/OtherRevenueMiscGrp/BusinessCd1531110
IRS990/OtherRevenueMiscGrp/Desc0antenna rental
IRS990/OtherRevenueMiscGrp/Desc1laundry & vending
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0142993
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt112000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0142993
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt112000
IRS990/OtherRevenueTotalAmt0154993
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0157166
IRS990/OtherSalariesAndWagesGrp/TotalAmt0157166
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt010696
IRS990/PayrollTaxesGrp/TotalAmt010696
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt097320
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt067306
IRS990/PrincipalOfficerNm0eugene f conroy
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0other tenant charges
IRS990/ProgramServiceRevenueGrp/Desc1tenants rents
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt023176
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11000458
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt023176
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11000458
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0512265
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01116
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01222701
IRS990/PYOtherRevenueAmt0153831
IRS990/PYProgramServiceRevenueAmt01004223
IRS990/PYRevenuesLessExpensesAmt0231708
IRS990/PYSalariesCompEmpBnftPaidAmt0217026
IRS990/PYTotalExpensesAmt01439727
IRS990/PYTotalRevenueAmt01671435
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0180698
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01688251
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01401959
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01483872
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0508437
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0512265
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0526134
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0556992
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0573633
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02677461
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01187
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01116
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01207
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01750
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01575
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt06835
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01023634
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01004223
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0987301
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0911155
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0883430
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt04809743
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01187
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01116
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01207
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01750
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01575
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt06835
IRS990ScheduleA/InvestmentIncomeCYPct00.00080
IRS990ScheduleA/InvestmentIncomePYPct00.00090
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0158383
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0154810
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0134464
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0106502
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0114493
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0668652
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.91720
IRS990ScheduleA/PublicSupportPY509Pct00.92200
IRS990ScheduleA/PublicSupportTotal509Amt07487204
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01532071
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01516488
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01513435
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01468147
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01457063
IRS990ScheduleA/Total509Grp/TotalAmt07487204
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01691641
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01672414
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01649106
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01576399
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01573131
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08162691
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02776435
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02776435
IRS990ScheduleD/EquipmentGrp/BookValueAmt01251
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0171564
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0172815
IRS990ScheduleD/ExpensesSubtotalAmt01507553
IRS990ScheduleD/LandGrp/BookValueAmt067000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt067000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02638794
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01323401
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03962195
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt039804
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0394902
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0434706
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt066400
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt01688251
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02746849
IRS990ScheduleD/TotalExpensesPerForm990Amt01507553
IRS990ScheduleD/TotalLiabilityAmt066400
IRS990ScheduleD/TotalRevenuePerForm990Amt01688251
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01688251
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01507553

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