Civic Intelligence

Euclid Hall Housing Development Fund Fund Company Inc

990 • Fiscal year 2016 • EIN 13-3527248

Jul 01, 2015 to Jun 30, 2016 • Filed on May 09, 2017

Organization ProfileWWW.WSFSSH.ORG
2345 BroadwayNew York, NY 10024

(212) 731-6032

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.75x

Higher debt load relative to assets than 83% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

8.48x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

24th percentile

-4.0%

Higher net margin than 24% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

30th percentile

$176,552

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 6.6% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

37th percentile

-0.2%

Faster asset growth than 37% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

41st percentile

0.0%

Faster revenue growth than 41% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$30,073,007

Down $64,634 (-0.2%) from 2015

Net Assets

Down

$7,392,113

Down $119,932 (-1.6%) from 2015

Liabilities

Up

$22,680,894

Up $55,298 (+0.2%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin24th percentile

Revenue

Up

$2,675,682

Up $1,327 (+0.0%) from 2015

Expenses

Up

$2,781,857

Up $5,234 (+0.2%) from 2015

Net Income

Down

-$106,175

Down $3,907 (-3.8%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$40M$30M$20M$10M$0Assets 2013: $29,920,559Liabilities 2013: $23,404,742Net Assets 2013: $6,515,8172013Assets 2014: $30,085,155Liabilities 2014: $22,470,842Net Assets 2014: $7,614,3132014Assets 2015: $30,137,641Liabilities 2015: $22,625,596Net Assets 2015: $7,512,0452015Assets 2016: $30,073,007Liabilities 2016: $22,680,894Net Assets 2016: $7,392,1132016Assets 2017: $29,975,006Liabilities 2017: $22,797,432Net Assets 2017: $7,177,5742017Assets 2018: $30,037,084Liabilities 2018: $22,817,914Net Assets 2018: $7,219,1702018Assets 2019: $30,386,143Liabilities 2019: $23,176,928Net Assets 2019: $7,209,2152019Assets 2020: $30,419,851Liabilities 2020: $23,283,627Net Assets 2020: $7,136,2242020Assets 2021: $31,104,839Liabilities 2021: $24,542,982Net Assets 2021: $6,561,8572021Assets 2022: $30,349,141Liabilities 2022: $24,235,526Net Assets 2022: $6,113,6152022Assets 2023: $30,101,923Liabilities 2023: $24,368,775Net Assets 2023: $5,733,1482023Assets 2024: $29,449,155Liabilities 2024: $23,466,341Net Assets 2024: $5,982,8142024

Highlighted filing

2016

Assets$30,073,007
Liabilities$22,680,894
Net Assets$7,392,113
Open 2016 Filing

Operations Trend

Revenue Growth41st percentile

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

$10M$5.0M$0-$5.0MRevenue 2013: $8,866,965Expenses 2013: $2,351,148Net Income 2013: $6,515,8172013Revenue 2014: $3,648,769Expenses 2014: $2,550,273Net Income 2014: $1,098,4962014Revenue 2015: $2,674,355Expenses 2015: $2,776,623Net Income 2015: -$102,2682015Revenue 2016: $2,675,682Expenses 2016: $2,781,857Net Income 2016: -$106,1752016Revenue 2017: $2,828,867Expenses 2017: $3,019,208Net Income 2017: -$190,3412017Revenue 2018: $3,155,165Expenses 2018: $3,076,834Net Income 2018: $78,3312018Revenue 2019: $3,294,736Expenses 2019: $3,290,362Net Income 2019: $4,3742019Revenue 2020: $3,310,874Expenses 2020: $3,336,532Net Income 2020: -$25,6582020Revenue 2021: $3,759,838Expenses 2021: $4,332,667Net Income 2021: -$572,8292021Revenue 2022: $3,712,175Expenses 2022: $4,160,417Net Income 2022: -$448,2422022Revenue 2023: $3,835,854Expenses 2023: $4,216,321Net Income 2023: -$380,4672023Revenue 2024: $3,615,558Expenses 2024: $3,365,892Net Income 2024: $249,6662024

Highlighted filing

2016

Revenue$2,675,682
Expenses$2,781,857
Net Income-$106,175
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 9, 2017
Return Version
2015v3.0
Gross Receipts
$2,675,682
Mission and Program Overview

Mission

A not-for-profit housing development corporation committed to owningconstructing, rehabilitating, leasing, managing, equipping,maintaining, developing and operating housing for persons of lowincome.

A not-for-profit housing development committed to owning, constructing, rehabilitating, leasing, managing, equipping, maintaining, developing and (continued in schedule o).

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,105,016$24,863,303▼ $241,713
Cash and Non-Interest-Bearing Accounts$883,788$846,271▼ $37,517
Accounts Receivable$131,935$73,827▼ $58,108
Prepaid Expenses and Deferred Charges$30,438$27,564▼ $2,874
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$30,137,641$30,073,007▼ $64,634
Other Assets Total$3,986,464$4,262,042▲ $275,578
Liabilities
Mortgage Notes Payable Secured by Investment Property$22,102,652$22,102,652→ $0
Accounts Payable and Accrued Expenses$477,174$522,634▲ $45,460
Other Liabilities$34,273$39,027▲ $4,754
Deferred Revenue$11,497$16,581▲ $5,084
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$22,625,596$22,680,894▲ $55,298
Net Assets / Fund Balance
Unrestricted Net Assets$7,512,045$7,392,113▼ $119,932
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$7,512,045$7,392,113▼ $119,932
Total Liabilities and Net Assets / Fund Balance$30,137,641$30,073,007▼ $64,634

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,738,404$1,205,019$15,943,423
Land$9,900,000-$9,900,000
Equipment$224,899$118,077$342,976
Other Assets Org$8,545--
Compensation and Service Providers
Top Officer Pay30th percentile

Employees

NameTitleOtherTotal
Paul R FreitagVice President/secretary$68,428$68,428

Board Members and Trustees

NameTitle
Sheldon J FinePresident
Laura JervisVice President/secretary
ROBERT O'CONNORDirector (through 04/2016)
Laura M TavorminaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,640,434
Investment Income
$26,069
Other Revenue
$9,179
Change in Net Assets
$-106,175
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,705,932
Salaries, Compensation, and Employee Benefits$1,075,925
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$752,368--$752,368
Depreciation Depletion$444,620--$444,620
Other Expenses$357,250--$357,250
Fees for Services Management-$263,604$0$263,604
Other Employee Benefits$256,767--$256,767
Insurance$122,340--$122,340
Interest$110,513--$110,513
Payroll Taxes$63,766--$63,766
All Other Expenses$62,111--$62,111
Fees for Services Other$60,482--$60,482
Fees for Services Legal$44,960--$44,960
Office Expenses$21,487--$21,487
Fees for Services Accounting-$8,000$0$8,000
Information Technology$7,851--$7,851
Pension Plan Contributions$3,024--$3,024
Total Functional Expenses$2,510,253$271,604$0$2,781,857
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

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits Payab$31,068
Due to Affiliates$7,959
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11A

“The form 990 is distributed to the board of directors for their review and approval prior to filing.”

Form 990, Part VI, Line 12C

“The conflict of interest statements are distributed for completion to the directors annually. All statements are reviewed by the board and maintained by the vice-president.”

Form 990, Part VI, Line 15B

“Neither the vice-president nor the treasurer is compensated by the filing organization. However, both are compensated by a related organization, west side federation for senior & supportive housing inc., which provides the property management for the filing organization. Also see part vii, section a.”

Form 990, Part VI, Line 19

“The organization makes the following governance documents available for public inspection upon request: 1. Articles of incorporation 2. By-laws 3. Irs determination letter 4. Conflict of interest policy 5. Audited consolidated financial statements 6. Form 990”

Filing and Contact Details

Filer

Filer Name
Euclid Hall Housing Development Fund
EIN
13-3527248
In Care Of
% LAURA M TAVORMINA TREASURE
Phone
2127316032
Address
2345 Broadway, New York, NY 10024

Signing Officer

Name
Paul Freitag
Title
Secretary
Phone
2127216032
Signed
2017-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Freitag Secretary
Formed
1989
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
1
Employees
13
Volunteers
0

Preparer

Firm
Eisneramper Llp
Address
750 THIRD AVENUE, NEW YORK, NY 10017-2703
Preparer
Candice Meth
Phone
2129498700
Supplemental Narrative

Additional Explanations

Form 990, Part I, Summary

“Organization's mission continued: operating housing for persons of low income.”

FORM 990, PART IX, LINE 7: SALARIES AND WAGES

“In addition to the 13 employees reported on IRS Form W3 (see Part V line 2 a), the payroll function of additional employees is provided by a related not-for-profit organization, West Side Federation For Senior and Supportive Housing Inc. (WSFSSH) (See schedule R Part V). The salaries and wages reported in Form 990 Part IX line 7 represents both salaries and wages of 13 employees reported in Form W3 and the allocated salaries and wages of an additional 25 employees that worked for the filing organization during the reporting period. EXPENSES THAT WSFSSH PAYS ON BEHALF OF THE FILING ORGANIZATION, THE ADVANCE PAYMENTS MADE BY WSFSSH ARE CONSIDERED LOANED TO THE FILING ORGANIZATION. THESE ADVANCE PAYMENTS ARE REPORTED UNDER CATEGORY "E" ON SCHEDULE R-PART V.”

Form 990, Part XI, Line 9

“Other changes in net assets of $(13,757) represents losses on uncollectible receivables.”

Financial Statement Notes

Schedule D, Part X, Line 2

“The Organization is subject to the provisions of the Financial Accounting Standards Board's (The "FASB") Accounting Standards Codification ("ASC") Topic 740, "Income Taxes," relating to accounting and reporting for uncertainty in income taxes. Because of the Organization's general tax-exempt status, the adoption of ASC tOPIC 740 has not had, and is not expected to have, a material impact on its consolidated financial statements.”

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IRS990/OtherExpensesGrp/Desc1FOOD
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3UTILITIES
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IRS990/OtherExpensesGrp/ProgramServicesAmt226015
IRS990/OtherExpensesGrp/ProgramServicesAmt3357250
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IRS990/OtherExpensesGrp/TotalAmt18015
IRS990/OtherExpensesGrp/TotalAmt226015
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt027564
IRS990/PrincipalOfficerNm0PAUL FREITAG SECRETARY
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IRS990/PYOtherRevenueAmt04247
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IRS990/PYRevenuesLessExpensesAmt0-102268
IRS990/PYSalariesCompEmpBnftPaidAmt01059421
IRS990/PYTotalExpensesAmt02776623
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02674355
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-106175
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02640434
IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt09488547
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt026069
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt072877
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt082161
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0821
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0181928
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02640434
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02597231
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02562451
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0377398
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt08177514
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt026069
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt072877
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt082161
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0821
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0181928
IRS990ScheduleA/InvestmentIncomeCYPct00.01018
IRS990ScheduleA/InvestmentIncomePYPct00.01000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt09179
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt04247
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt04157
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0199
IRS990ScheduleA/OtherIncome509Grp/TotalAmt017782
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98882
IRS990ScheduleA/PublicSupportPY509Pct00.98920
IRS990ScheduleA/PublicSupportTotal509Amt017666061
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02675682
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02674355
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt08866965
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01205019
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0118077
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt231068
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt38545
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVES IN ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2SECURITY DEPOSITS- TENANTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3SECURITY DEPOSITS- UTILITIES
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS PAYAB
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO AFFILIATES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is subject to the provisions of the Financial Accounting Standards Board's (The "FASB") Accounting Standards Codification ("ASC") Topic 740, "Income Taxes," relating to accounting and reporting for uncertainty in income taxes. Because of the Organization's general tax-exempt status, the adoption of ASC tOPIC 740 has not had, and is not expected to have, a material impact on its consolidated financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0143217

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$30,073,007
Liabilities
$22,680,894
Net assets
$7,392,113
Revenue
$2,675,682
Expenses
$2,781,857
Net income
-$106,175
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$29.4$23.5$5.98$3.62$3.37$0.25
2023Detailed filing. Detailed filing data is available for this year.$30.1$24.4$5.73$3.84$4.22$0.38
2022Detailed filing. Detailed filing data is available for this year.$30.3$24.2$6.11$3.71$4.16$0.45
2021Detailed filing. Detailed filing data is available for this year.$31.1$24.5$6.56$3.76$4.33$0.57
2020Detailed filing. Detailed filing data is available for this year.$30.4$23.3$7.14$3.31$3.34$0.03
2019Detailed filing. Detailed filing data is available for this year.$30.4$23.2$7.21$3.29$3.29$0.00
2018Detailed filing. Detailed filing data is available for this year.$30.0$22.8$7.22$3.16$3.08$0.08
2017Detailed filing. Detailed filing data is available for this year.$30.0$22.8$7.18$2.83$3.02$0.19
2016Detailed filing. Detailed filing data is available for this year.$30.1$22.7$7.39$2.68$2.78$0.11
2015Detailed filing. Detailed filing data is available for this year.$30.1$22.6$7.51$2.67$2.78$0.10
2014Detailed filing. Detailed filing data is available for this year.$30.1$22.5$7.61$3.65$2.55$1.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.9$23.4$6.52$8.87$2.35$6.52