Civic Intelligence

Everlasting Pine Housing Development Fund Company Inc.

990 • Fiscal year 2019 • EIN 13-3218852

Apr 01, 2018 to Mar 31, 2019 • Filed on Feb 14, 2020

Organization ProfileN/A
96 Baxter Street 13th FloorNew York, NY 10013

(212) 941-0920

Siviq Scores

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

Liabilities / Assets

99th percentile

3.48x

Higher debt load relative to assets than 99% of similar nonprofits.

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

Liabilities / Revenue

95th percentile

4.53x

Higher debt load relative to revenue than 95% of similar nonprofits.

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

Net Margin

20th percentile

-10%

Higher net margin than 20% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

4th percentile

-29%

Faster asset growth than 4% of similar nonprofits.

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

Revenue Growth

39th percentile

0.1%

Faster revenue growth than 39% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$2,094,876

Down $867,113 (-29%) from 2018

Net Assets

Down

-$5,200,245

Down $163,013 (-3.2%) from 2018

Liabilities

Down

$7,295,121

Down $704,100 (-8.8%) from 2018

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin20th percentile

Revenue

Up

$1,611,670

Up $2,357 (+0.1%) from 2018

Expenses

Down

$1,774,683

Down $23,189 (-1.3%) from 2018

Net Income

Up

-$163,013

Up $25,546 (+14%) from 2018

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$0-$5.0M-$10MAssets 2011: $3,557,205Liabilities 2011: $7,738,991Net Assets 2011: -$4,181,7862011Assets 2012: $3,275,178Liabilities 2012: $7,864,393Net Assets 2012: -$4,589,2152012Assets 2013: $3,510,491Liabilities 2013: $7,918,797Net Assets 2013: -$4,408,3062013Assets 2014: $3,224,886Liabilities 2014: $7,797,670Net Assets 2014: -$4,572,7842014Assets 2015: $3,042,303Liabilities 2015: $7,717,825Net Assets 2015: -$4,675,5222015Assets 2016: $2,973,050Liabilities 2016: $7,778,099Net Assets 2016: -$4,805,0492016Assets 2017: $2,789,743Liabilities 2017: $7,638,416Net Assets 2017: -$4,848,6732017Assets 2018: $2,961,989Liabilities 2018: $7,999,221Net Assets 2018: -$5,037,2322018Assets 2019: $2,094,876Liabilities 2019: $7,295,121Net Assets 2019: -$5,200,2452019Assets 2020: $1,868,139Liabilities 2020: $7,330,034Net Assets 2020: -$5,461,8952020Assets 2021: $1,872,708Liabilities 2021: $7,049,773Net Assets 2021: -$5,177,0652021Assets 2022: $2,446,432Liabilities 2022: $7,442,504Net Assets 2022: -$4,996,0722022Assets 2023: $2,605,383Liabilities 2023: $7,438,154Net Assets 2023: -$4,832,7712023Assets 2024: $2,523,575Liabilities 2024: $7,236,966Net Assets 2024: -$4,713,3912024Assets 2025: $2,993,810Liabilities 2025: $6,842,486Net Assets 2025: -$3,848,6762025

Highlighted filing

2019

Assets$2,094,876
Liabilities$7,295,121
Net Assets-$5,200,245
Open 2019 Filing

Operations Trend

Revenue Growth39th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,180,549Expenses 2011: $1,579,177Net Income 2011: -$398,6282011Revenue 2012: $1,147,486Expenses 2012: $1,554,915Net Income 2012: -$407,4292012Revenue 2013: $1,735,048Expenses 2013: $1,554,140Net Income 2013: $180,9082013Revenue 2014: $1,441,332Expenses 2014: $1,605,810Net Income 2014: -$164,4782014Revenue 2015: $1,537,010Expenses 2015: $1,639,748Net Income 2015: -$102,7382015Revenue 2016: $1,622,843Expenses 2016: $1,752,370Net Income 2016: -$129,5272016Revenue 2017: $1,604,777Expenses 2017: $1,648,401Net Income 2017: -$43,6242017Revenue 2018: $1,609,313Expenses 2018: $1,797,872Net Income 2018: -$188,5592018Revenue 2019: $1,611,670Expenses 2019: $1,774,683Net Income 2019: -$163,0132019Revenue 2020: $1,751,725Expenses 2020: $1,832,908Net Income 2020: -$81,1832020Revenue 2021: $1,649,621Expenses 2021: $1,364,791Net Income 2021: $284,8302021Revenue 2022: $1,636,881Expenses 2022: $1,455,888Net Income 2022: $180,9932022Revenue 2023: $1,649,069Expenses 2023: $1,485,768Net Income 2023: $163,3012023Revenue 2024: $1,641,366Expenses 2024: $1,521,986Net Income 2024: $119,3802024Revenue 2025: $2,774,824Expenses 2025: $1,910,109Net Income 2025: $864,7152025

Highlighted filing

2019

Revenue$1,611,670
Expenses$1,774,683
Net Income-$163,013
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2018 to Mar 31, 2019
Signed
Feb 14, 2020
Return Version
2018v3.2
Gross Receipts
$1,611,670
Mission and Program Overview

Mission

Everlasting pine housing development fund company, inc. ("everlasting pine) is a non-profit organization incorporated on april 16, 1984 under article xi of the private housing finance law and section 402 of the not- for-profit corporation law of the state of new york. Everlasting pine was organized to develop and operate a housing project containing 87 units for elderly and handicapped persons of low income pursuant to section 202 of the national housing act of 1959.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,554,819$1,196,552▼ $358,267
Cash and Non-Interest-Bearing Accounts$20,743$302,154▲ $281,411
Accounts Receivable$903,963$24,122▼ $879,841
Prepaid Expenses and Deferred Charges-$12,637-
Total Assets$2,961,989$2,094,876▼ $867,113
Other Assets Total$482,464$559,411▲ $76,947
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,743,581$5,422,710▼ $320,871
Other Liabilities$1,634,799$1,562,099▼ $72,700
Accounts Payable and Accrued Expenses$620,841$310,312▼ $310,529
Total Liabilities$7,999,221$7,295,121▼ $704,100
Net Assets / Fund Balance
Unrestricted Net Assets$-5,037,232$-5,200,245▼ $163,013
Total Net Assets Fund Balance$-5,037,232$-5,200,245▼ $163,013
Total Liabilities and Net Assets / Fund Balance$2,961,989$2,094,876▼ $867,113

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,176,858$9,246,274$10,423,132
Equipment$19,694$66,880$86,574
Other Assets Org$91--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Sherman EngChairman
David ChenMember
Mak Shiu KaMember
PO Ling NgMember
Revenue and Support

Revenue Composition

Contributions and Grants
$1,339,945
Program Service Revenue
$262,656
Investment Income
$6,043
Other Revenue
$3,026
Change in Net Assets
$-163,013

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,611,670
Total Revenue per Audited Statements
$1,611,670
Total Revenue per Form 990
$1,611,670
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,584,369
Salaries, Compensation, and Employee Benefits$190,314
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$463,231--$463,231
Depreciation Depletion$384,711--$384,711
Occupancy$347,617--$347,617
Fees for Services Other$184,787--$184,787
Other Salaries and Wages$110,372$17,909-$128,281
Insurance$61,593$2,693-$64,286
Fees for Services Management-$54,411-$54,411
Other Employee Benefits$24,427$10,468-$34,895
Payroll Taxes$13,038$5,588-$18,626
Office Expenses-$18,556-$18,556
Fees for Services Accounting-$14,580-$14,580
Other Expenses$10,937--$10,937
Fees for Services Legal-$8,848-$8,848
Pension Plan Contributions$5,958$2,554-$8,512
Total Functional Expenses$1,639,076$135,607$0$1,774,683

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,774,683
Total Expenses per Audited Statements$1,774,683
Total Expenses per Form 990$1,774,683
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
Due to Related Party$1,538,141
Tenant Security Deposit$21,174
Prepaid Rent$2,784
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“During the organization's tax year the organization used a management company to perform management duties. Management duties include, but are not limited to, hiring, firing and supervising personnel, planning or executive budgets or financial operations.”

Form 990, Page 6, Part VI, Line 11B

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, review by management and is ready to be filed with the internal revenue service, it is electronically sent to the board for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

Form 990, Page 6, Part VI, Line 12C

“Board members must disclose conflict of interest annually.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Everlasting Pine Housing
EIN
13-3218852
Phone
2129410920
Address
96 BAXTER STREET 13TH FLOOR, NEW YORK, NY 10013

Signing Officer

Name
Sherman Eng
Title
Chairman
Phone
2129410920
Signed
2020-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherman Eng
Formed
1984
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
6

Preparer

Firm
VARGAS & RIVERA CPA'S LLP
Address
586 ROUTE 304, NEW CITY, NY 10956
Preparer
Luis C Rivera
Phone
8456383113
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Everlasting pine housing development fund company, inc. ("everlasting pine) is a non-profit organization incorporated on april 16, 1984 under article xi of the private housing finance law and section 402 of the not- for-profit corporation law of the state of new york. Everlasting pine was organized to develop and operate a housing project containing 87 units for elderly and handicapped persons of low income pursuant to section 202 of the national housing act of 1959.”

Form 990, Part IX, Line 11G

“Management consultants 29,642 0 0 repairs/maintenance contracts 146,831 0 0 contract maintenance 8,314 0 0 total 184,787 0 0”

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IRS990ScheduleD/EquipmentGrp/DepreciationAmt066880
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt391
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2OTHER ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS RESERVE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREPAID RENT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EVERLASTING PINE HOUSING DEVELOPMENT FUND COMPANY, INC. ("EVERLASTING PINE) IS A NON-PROFIT ORGANIZATION INCORPORATED ON APRIL 16, 1984 UNDER ARTICLE XI OF THE PRIVATE HOUSING FINANCE LAW AND SECTION 402 OF THE NOT- FOR-PROFIT CORPORATION LAW OF THE STATE OF NEW YORK. EVERLASTING PINE WAS ORGANIZED TO DEVELOP AND OPERATE A HOUSING PROJECT CONTAINING 87 UNITS FOR ELDERLY AND HANDICAPPED PERSONS OF LOW INCOME PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT OF 1959.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DURING THE ORGANIZATION'S TAX YEAR THE ORGANIZATION USED A MANAGEMENT COMPANY TO PERFORM MANAGEMENT DUTIES. MANAGEMENT DUTIES INCLUDE, BUT ARE NOT LIMITED TO, HIRING, FIRING AND SUPERVISING PERSONNEL, PLANNING OR EXECUTIVE BUDGETS OR FINANCIAL OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEW BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE BOARD FOR ANY COMMENTS. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED TO THE OUTSIDE ACCOUNTANTS. EACH ISSUE IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS MUST DISCLOSE CONFLICT OF INTEREST ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MANAGEMENT CONSULTANTS 29,642 0 0 REPAIRS/MAINTENANCE CONTRACTS 146,831 0 0 CONTRACT MAINTENANCE 8,314 0 0 TOTAL 184,787 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WALKER STREET - CHUNG PAK LDC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0COMML RENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt096 BAXTER STREET 13TH FLOOR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd010013
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt096 BAXTER STREET 13TH FLOOR
IRS990/USAddress/CityNm0NEW YORK
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IRS990/USAddress/ZIPCd010013
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ReturnHeader/BuildTS02020-11-06 18:47:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SHERMAN ENG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02129410920
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-02-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EVERLASTING PINE HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT FUND COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0EVER
ReturnHeader/Filer/EIN0133218852
ReturnHeader/Filer/PhoneNum02129410920
ReturnHeader/Filer/USAddress/AddressLine1Txt096 BAXTER STREET 13TH FLOOR

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,094,876
Liabilities
$7,295,121
Net assets
-$5,200,245
Revenue
$1,611,670
Expenses
$1,774,683
Net income
-$163,013
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.99$6.84$3.85$2.77$1.91$0.86
2024Detailed filing. Detailed filing data is available for this year.$2.52$7.24$4.71$1.64$1.52$0.12
2023Detailed filing. Detailed filing data is available for this year.$2.61$7.44$4.83$1.65$1.49$0.16
2022Detailed filing. Detailed filing data is available for this year.$2.45$7.44$5.00$1.64$1.46$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.87$7.05$5.18$1.65$1.36$0.28
2020Detailed filing. Detailed filing data is available for this year.$1.87$7.33$5.46$1.75$1.83$0.08
2019Detailed filing. Detailed filing data is available for this year.$2.09$7.30$5.20$1.61$1.77$0.16
2018Detailed filing. Detailed filing data is available for this year.$2.96$8.00$5.04$1.61$1.80$0.19
2017Summary only. Only limited summary data is available for this year.$2.79$7.64$4.85$1.60$1.65$0.04
2016Summary only. Only limited summary data is available for this year.$2.97$7.78$4.81$1.62$1.75$0.13
2015Summary only. Only limited summary data is available for this year.$3.04$7.72$4.68$1.54$1.64$0.10
2014Summary only. Only limited summary data is available for this year.$3.22$7.80$4.57$1.44$1.61$0.16
2013Summary only. Only limited summary data is available for this year.$3.51$7.92$4.41$1.74$1.55$0.18
2012Summary only. Only limited summary data is available for this year.$3.28$7.86$4.59$1.15$1.55$0.41
2011Summary only. Only limited summary data is available for this year.$3.56$7.74$4.18$1.18$1.58$0.40