Civic Intelligence

Pilot Cove Manor Housing Development Company Inc.

990 • Fiscal year 2017 • EIN 13-3017060

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 22, 2018

Organization Profile
160 Pilot StreetBronx, NY 10464

(718) 885-1600

Siviq Scores

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

Liabilities / Assets

36th percentile

0.42x

Higher debt load relative to assets than 36% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

37th percentile

1.36x

Higher debt load relative to revenue than 37% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Source year 2017

Net Margin

74th percentile

11%

Higher net margin than 74% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2017 filings • NTEE L • $5M-$10M nonprofits • Source year 2017

Asset Growth

4th percentile

-12%

Faster asset growth than 4% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

70th percentile

4.9%

Faster revenue growth than 70% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets36th percentile

Assets

Down

$5,899,901

Down $811,048 (-12%) from 2016

Net Assets

Down

$3,418,016

Down $193,411 (-5.4%) from 2016

Liabilities

Down

$2,481,885

Down $617,637 (-20%) from 2016

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin74th percentile

Revenue

Up

$1,823,482

Up $84,983 (+4.9%) from 2016

Expenses

Up

$1,624,778

Up $29,331 (+1.8%) from 2016

Net Income

Up

$198,704

Up $55,652 (+39%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$10M$5.0M$0Assets 2011: $8,860,697Liabilities 2011: $4,466,911Net Assets 2011: $4,393,7862011Assets 2012: $8,741,587Liabilities 2012: $4,220,069Net Assets 2012: $4,521,5182012Assets 2013: $8,187,307Liabilities 2013: $3,905,631Net Assets 2013: $4,281,6762013Assets 2014: $7,835,468Liabilities 2014: $3,585,311Net Assets 2014: $4,250,1572014Assets 2015: $7,386,173Liabilities 2015: $3,514,317Net Assets 2015: $3,871,8562015Assets 2016: $6,710,949Liabilities 2016: $3,099,522Net Assets 2016: $3,611,4272016Assets 2017: $5,899,901Liabilities 2017: $2,481,885Net Assets 2017: $3,418,0162017Assets 2018: $5,075,235Liabilities 2018: $2,025,742Net Assets 2018: $3,049,4932018Assets 2019: $4,467,648Liabilities 2019: $1,558,441Net Assets 2019: $2,909,2072019Assets 2020: $3,860,488Liabilities 2020: $1,043,486Net Assets 2020: $2,817,0022020Assets 2021: $3,157,296Liabilities 2021: $655,856Net Assets 2021: $2,501,4402021Assets 2022: $2,789,102Liabilities 2022: $443,990Net Assets 2022: $2,345,1122022Assets 2023: $3,074,496Liabilities 2023: $214,082Net Assets 2023: $2,860,4142023Assets 2024: $3,294,916Liabilities 2024: $136,435Net Assets 2024: $3,158,4812024

Highlighted filing

2017

Assets$5,899,901
Liabilities$2,481,885
Net Assets$3,418,016
Open 2017 Filing

Operations Trend

Revenue Growth70th percentile

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

$3.0M$2.0M$1.0M$0Expenses 2011: $1,583,9642011Expenses 2012: $1,533,2062012Revenue 2013: $1,649,902Expenses 2013: $1,500,405Net Income 2013: $149,4972013Revenue 2014: $1,785,066Expenses 2014: $1,467,987Net Income 2014: $317,0792014Revenue 2015: $1,828,143Expenses 2015: $1,656,126Net Income 2015: $172,0172015Revenue 2016: $1,738,499Expenses 2016: $1,595,447Net Income 2016: $143,0522016Revenue 2017: $1,823,482Expenses 2017: $1,624,778Net Income 2017: $198,7042017Revenue 2018: $1,919,438Expenses 2018: $1,827,451Net Income 2018: $91,9872018Revenue 2019: $2,325,940Expenses 2019: $1,765,346Net Income 2019: $560,5942019Revenue 2020: $1,972,346Expenses 2020: $1,692,107Net Income 2020: $280,2392020Revenue 2021: $1,872,197Expenses 2021: $1,795,631Net Income 2021: $76,5662021Revenue 2022: $1,889,351Expenses 2022: $1,859,457Net Income 2022: $29,8942022Revenue 2023: $2,051,289Expenses 2023: $1,813,708Net Income 2023: $237,5812023Revenue 2024: $2,127,962Expenses 2024: $1,953,711Net Income 2024: $174,2512024

Highlighted filing

2017

Revenue$1,823,482
Expenses$1,624,778
Net Income$198,704
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 22, 2018
Return Version
2017v2.3
Gross Receipts
$1,823,482
Mission and Program Overview

Mission

Provided housing for the elderly, under the Section 202 of the National Housing Act.

To provide housing for the elderly persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,216,693$1,947,676▼ $269,017
Cash and Non-Interest-Bearing Accounts$317,413$229,092▼ $88,321
Prepaid Expenses and Deferred Charges$188,097$193,962▲ $5,865
Accounts Receivable$77,933$13,866▼ $64,067
Total Assets$6,710,949$5,899,901▼ $811,048
Other Assets Total$3,910,813$3,515,305▼ $395,508
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,782,573$2,375,794▼ $406,779
Accounts Payable and Accrued Expenses$266,509$54,195▼ $212,314
Other Liabilities$50,440$51,896▲ $1,456
Total Liabilities$3,099,522$2,481,885▼ $617,637
Net Assets / Fund Balance
Unrestricted Net Assets$3,611,427$3,418,016▼ $193,411
Total Net Assets Fund Balance$3,611,427$3,418,016▼ $193,411
Total Liabilities and Net Assets / Fund Balance$6,710,949$5,899,901▼ $811,048

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,161,108$7,420,159$8,581,267
Land$719,286-$1,068,368
Equipment$67,282$564,169$631,451
Other Assets Org$1,724,525--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Virginia M GallagherPresident
Robert McPhillipsSecretary
Carol StewartTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,736,891
Investment Income
$76,457
Other Revenue
$10,134
Change in Net Assets
$198,704

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,823,482
Total Revenue per Audited Statements
$1,823,482
Total Revenue per Form 990
$1,823,482
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,306,571
Salaries, Compensation, and Employee Benefits$318,207
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$288,487--$288,487
Other Salaries and Wages$264,072--$264,072
Interest$217,991--$217,991
Insurance$96,834--$96,834
Fees for Services Management$91,176--$91,176
Other Employee Benefits$33,208--$33,208
Payroll Taxes$20,927--$20,927
Office Expenses$15,332--$15,332
Other Expenses$13,298--$13,298
Fees for Services Accounting$11,000--$11,000
Fees for Services Other$4,575--$4,575
Fees for Services Legal$1,450--$1,450
Total Functional Expenses$1,624,778$0$0$1,624,778

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,624,778
Total Expenses per Audited Statements$1,624,778
Total Expenses per Form 990$1,624,778
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$51,896
Tenant Security Deposit-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
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, Section B, Line 11A

“The managing agent receives and review with the board before filing.”

Filing and Contact Details

Filer

Filer Name
Pilot Cove Manor Housing Development Fund Co Inc
EIN
13-3017060
Phone
7188851600
Address
160 PILOT STREET, BRONX, NY 10464

Signing Officer

Name
Virginia M Gallagher
Title
President
Signed
2018-10-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Virginia M Gallagher
Formed
1979
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
7

Preparer

Firm
Grace Nkenke CPA
Address
221-10 JAMAICA AVENUESUITE 207, QUEENS VILLAGE, NY 11428
Preparer
Grace Nkenke
Phone
7184681240
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“The Sequestration monies that the U.S. Department of Housing and Urban Development authorized to be withdrawn from the Projects investments to pay for the monthly Tenants Assistance Payment”

Raw XML Appendix392 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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01686389
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01628369
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01562250
IRS990ScheduleA/Total509Grp/TotalAmt08489152
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01974140
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01783340
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01762158
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01784961
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01618557
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08923156
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01161108
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07420159
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08581267
IRS990ScheduleD/EquipmentGrp/BookValueAmt067282
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0564169
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0631451
IRS990ScheduleD/ExpensesSubtotalAmt01624778
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0719286
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01068368
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt051896
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11284515
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2454369
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31724525
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVE FOR REPLACEMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2GENERAL RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RESERVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt051896
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSIT
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt01823482
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01947676
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03515305
IRS990ScheduleD/TotalExpensesPerForm990Amt01624778
IRS990ScheduleD/TotalLiabilityAmt051896
IRS990ScheduleD/TotalRevenuePerForm990Amt01823482
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01823482
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01624778
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The managing agent receives and review with the board before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Sequestration monies that the U.S. Department of Housing and Urban Development authorized to be withdrawn from the Projects investments to pay for the monthly Tenants Assistance Payment
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06710949
IRS990/TotalAssetsEOYAmt05899901
IRS990/TotalAssetsGrp/BOYAmt06710949
IRS990/TotalAssetsGrp/EOYAmt05899901
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01624778
IRS990/TotalFunctionalExpensesGrp/TotalAmt01624778
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03099522
IRS990/TotalLiabilitiesEOYAmt02481885
IRS990/TotalLiabilitiesGrp/BOYAmt03099522
IRS990/TotalLiabilitiesGrp/EOYAmt02481885
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03611427
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03418016
IRS990/TotalProgramServiceExpensesAmt01624778
IRS990/TotalProgramServiceRevenueAmt01736891
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01823482
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01823482
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06710949
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05899901
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03611427
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03418016
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 33
IRS990/USAddress/CityNm0Bronx
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010464
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Virginia M Gallagher
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PILOT COVE MANOR HOUSING DEVELOPMENT FUND CO INC
ReturnHeader/Filer/BusinessNameControlTxt0PILO
ReturnHeader/Filer/EIN0133017060
ReturnHeader/Filer/PhoneNum07188851600
ReturnHeader/Filer/USAddress/AddressLine1Txt0160 PILOT STREET
ReturnHeader/Filer/USAddress/CityNm0BRONX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010464
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C2170CCA7F3847F4DD01CC4AE0BD2F442CF02C42
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0C2170CCA7F3847F4DD01CC4AE0BD2F442CF02C42
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.52.102.33
ReturnHeader/FilingSecurityInformation/IPDt02018-10-22
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm015:57:37
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GRACE NKENKE CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0221-10 JAMAICA AVENUESUITE 207
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0QUEENS VILLAGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011428
ReturnHeader/PreparerPersonGrp/PhoneNum07184681240
ReturnHeader/PreparerPersonGrp/PreparationDt02018-10-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Grace Nkenke
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-10-22T11:59:16-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,899,901
Liabilities
$2,481,885
Net assets
$3,418,016
Revenue
$1,823,482
Expenses
$1,624,778
Net income
$198,704
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.29$0.14$3.16$2.13$1.95$0.17
2023Detailed filing. Detailed filing data is available for this year.$3.07$0.21$2.86$2.05$1.81$0.24
2022Detailed filing. Detailed filing data is available for this year.$2.79$0.44$2.35$1.89$1.86$0.03
2021Detailed filing. Detailed filing data is available for this year.$3.16$0.66$2.50$1.87$1.80$0.08
2020Detailed filing. Detailed filing data is available for this year.$3.86$1.04$2.82$1.97$1.69$0.28
2019Detailed filing. Detailed filing data is available for this year.$4.47$1.56$2.91$2.33$1.77$0.56
2018Detailed filing. Detailed filing data is available for this year.$5.08$2.03$3.05$1.92$1.83$0.09
2017Detailed filing. Detailed filing data is available for this year.$5.90$2.48$3.42$1.82$1.62$0.20
2016Detailed filing. Detailed filing data is available for this year.$6.71$3.10$3.61$1.74$1.60$0.14
2015Detailed filing. Detailed filing data is available for this year.$7.39$3.51$3.87$1.83$1.66$0.17
2014Detailed filing. Detailed filing data is available for this year.$7.84$3.59$4.25$1.79$1.47$0.32
2013Detailed filing. Detailed filing data is available for this year.$8.19$3.91$4.28$1.65$1.50$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.74$4.22$4.52$1.53
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.86$4.47$4.39$1.58