Civic Intelligence

Herbert L Brooks Housing Development Fund Company Inc.

990 • Fiscal year 2019 • EIN 13-3595749

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 21, 2020

Organization ProfileN/A
1789 Southern BlvdBronx, NY 10460

(718) 842-0256

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.82x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

88th percentile

13.02x

Higher debt load relative to revenue than 88% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Net Margin

27th percentile

-27%

Higher net margin than 27% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

80th percentile

$215,007

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 35.2% of source-year revenue.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Asset Growth

21st percentile

-4.5%

Faster asset growth than 21% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

79th percentile

11%

Faster revenue growth than 79% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$4,373,257

Down $206,967 (-4.5%) from 2018

Net Assets

Down

-$3,576,944

Down $108,843 (-3.1%) from 2018

Liabilities

Down

$7,950,201

Down $98,124 (-1.2%) from 2018

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin27th percentile

Revenue

Up

$610,747

Up $62,875 (+11%) from 2018

Expenses

Up

$775,086

Up $9,289 (+1.2%) from 2018

Net Income

Up

-$164,339

Up $53,586 (+25%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$10M$5.0M$0-$5.0MAssets 2010: $5,869,380Liabilities 2010: $7,927,996Net Assets 2010: -$2,058,6162010Assets 2011: $5,668,128Liabilities 2011: $7,925,148Net Assets 2011: -$2,257,0202011Assets 2012: $5,543,400Liabilities 2012: $9,174,100Net Assets 2012: -$3,630,7002012Assets 2013: $5,412,745Liabilities 2013: $7,880,116Net Assets 2013: -$2,467,3712013Assets 2014: $5,305,285Liabilities 2014: $7,891,850Net Assets 2014: -$2,586,5652014Assets 2015: $5,112,587Liabilities 2015: $7,879,811Net Assets 2015: -$2,767,2242015Assets 2016: $4,885,459Liabilities 2016: $7,947,251Net Assets 2016: -$3,061,7922016Assets 2017: $4,723,814Liabilities 2017: $7,973,990Net Assets 2017: -$3,250,1762017Assets 2018: $4,580,224Liabilities 2018: $8,048,325Net Assets 2018: -$3,468,1012018Assets 2019: $4,373,257Liabilities 2019: $7,950,201Net Assets 2019: -$3,576,9442019Assets 2020: $3,759,802Liabilities 2020: $7,950,314Net Assets 2020: -$4,190,5122020Assets 2021: $3,980,456Liabilities 2021: $8,159,801Net Assets 2021: -$4,179,3452021Assets 2022: $4,309,168Liabilities 2022: $8,137,876Net Assets 2022: -$3,828,7082022Assets 2023: $4,664,989Liabilities 2023: $8,029,390Net Assets 2023: -$3,364,4012023Assets 2024: $5,043,811Liabilities 2024: $8,203,505Net Assets 2024: -$3,159,6942024

Highlighted filing

2019

Assets$4,373,257
Liabilities$7,950,201
Net Assets-$3,576,944
Open 2019 Filing

Operations Trend

Revenue Growth79th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $801,5592010Revenue 2011: $523,768Expenses 2011: $722,172Net Income 2011: -$198,4042011Revenue 2012: $542,542Expenses 2012: $1,916,222Net Income 2012: -$1,373,6802012Revenue 2013: $538,972Expenses 2013: $634,392Net Income 2013: -$95,4202013Revenue 2014: $529,251Expenses 2014: $648,445Net Income 2014: -$119,1942014Revenue 2015: $522,845Expenses 2015: $703,504Net Income 2015: -$180,6592015Revenue 2016: $540,001Expenses 2016: $834,569Net Income 2016: -$294,5682016Revenue 2017: $538,082Expenses 2017: $726,466Net Income 2017: -$188,3842017Revenue 2018: $547,872Expenses 2018: $765,797Net Income 2018: -$217,9252018Revenue 2019: $610,747Expenses 2019: $775,086Net Income 2019: -$164,3392019Revenue 2020: $513,142Expenses 2020: $1,126,710Net Income 2020: -$613,5682020Revenue 2021: $1,056,994Expenses 2021: $1,045,827Net Income 2021: $11,1672021Revenue 2022: $1,875,001Expenses 2022: $1,341,630Net Income 2022: $533,3712022Revenue 2023: $1,953,236Expenses 2023: $1,488,929Net Income 2023: $464,3072023Revenue 2024: $1,805,238Expenses 2024: $1,600,531Net Income 2024: $204,7072024

Highlighted filing

2019

Revenue$610,747
Expenses$775,086
Net Income-$164,339
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 21, 2020
Return Version
2019v5.1
Gross Receipts
$610,747
Mission and Program Overview

Mission

Herbert l. Brooks housing development fund company, inc. (the "company"), a not-for-profit corporation, was formed under the laws of the state of new york, on april 10, 1990, for the purpose of operating a rental housing project under section 202 of the national housing act.

Providing low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,704,120$3,486,897▼ $217,223
Accounts Receivable$20,498$24,865▲ $4,367
Prepaid Expenses and Deferred Charges$5,648--
Intangible Assets$1,627--
Cash and Non-Interest-Bearing Accounts$0--
Total Assets$4,580,224$4,373,257▼ $206,967
Other Assets Total$848,331$861,495▲ $13,164
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,838,700$7,838,646▼ $54
Accounts Payable and Accrued Expenses$128,830$84,973▼ $43,857
Other Liabilities$80,795$26,582▼ $54,213
Total Liabilities$8,048,325$7,950,201▼ $98,124
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,468,101$-3,576,944▼ $108,843
Total Net Assets Fund Balance$-3,468,101$-3,576,944▼ $108,843
Total Liabilities and Net Assets / Fund Balance$4,580,224$4,373,257▼ $206,967

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,441,897$5,509,975$8,951,872
Land$45,000-$45,000
Other Assets Org$601,195--
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleOtherTotal
Rubria M RodriguezFiscal Administrator$127,389$127,389

Board Members and Trustees

NameTitle
Wallace MobleyBoard Chair
Derrick LovettPresident/CEO
Carmen SilvaDirector
Florence BlanchardDirector
James ShippDirector
Kennethe MorrisonDirector
Landon DaisDirector
Linda SargeantDirector
Phyllis WilliamsSecretary
April HortonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$606,919
Investment Income
$330
Other Revenue
$3,498
Change in Net Assets
$-164,339

Audited Revenue Reconciliation

Revenue per Audited Statements
$610,747
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$610,747
Total Revenue per Form 990
$610,747
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$775,086
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
Depreciation Depletion$236,092--$236,092
Fees for Services Management$132,688$47,331-$180,019
Insurance$73,487--$73,487
Occupancy$68,475--$68,475
Fees for Services Accounting$1,156$27,750-$28,906
Office Expenses$15,381--$15,381
Other Expenses$8,620--$8,620
Fees for Services Legal$5,841--$5,841
All Other Expenses$1,445--$1,445
Total Functional Expenses$700,005$75,081$0$775,086

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$775,086
Total Expenses per Audited Statements$775,086
Total Expenses per Form 990$775,086
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits Payable$19,940
Due to Owner$6,642
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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, Part VI, Section A, Line 3

“The property is managed by wavecrest management team, ltd., an unaffiliated company paid the amount of $ 47,331.”

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

“Form 990 is reviewed by the ceo of the organization, but a full copy is not presented to the whole board.”

Form 990, Part VI, Section B, Line 12C

“The organization has an affirmation of its principles statement and whistleblower policy that board members and senior staff are required to sign. These statements address issues of ethics and conflicts of interest. It is the responsibility of all directors, officers, and employees to report ethics violations or suspended violations. No director, officer, or employee who in good faith reports an ethics violation shall suffer harassment, retaliation, or adverse employment consequence. Violations or suspended violations may be submitted on a confidential basis by complaint or anonymously. The organization encourages employees to share their concerns with someone who can address them properly. These policies are intended to encourage and enable employees and other to raise ethics concerns on an ongoing basis.”

Form 990, Part VI, Section C, Line 19

“The documents are available by request.”

Filing and Contact Details

Filer

Filer Name
Herbert L Brooks Housing
EIN
13-3595749
Phone
7188420256
Address
1789 SOUTHERN BLVD, BRONX, NY 10460

Signing Officer

Name
Derrick Lovett
Title
President/CEO
Phone
7188420256
Signed
2020-08-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derrick Lovett
Formed
1990
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
6
Employees
2
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
3025 NORTH WOOSTER AVE, DOVER, OH 44622
Preparer
Frank Buss Ii
Phone
3303655400
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The selection process has not changed from prior year.”

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

“The company, a not-for-profit corporation, was formed under the laws of the state of new york, on april 10, 1990, for the purpose of operating a rental housing project under section 202 of the national housing act.”

FORM 990 PART XI, LINE 8 PRIOR PERIOD ADJUSTMENTS:

“Net assets as of january 1, 2019 were increased by $55,496 to correct an error in reporting due to affiliates.”

Financial Statement Notes

PART X, LINE 2:

“The company's policy is to include any penalties and interest accessed by taxing authorities with excise tax expense. The company's form 990, return of organization exempt from income tax, is subject to audit by the irs for the prior three years. While no income tax returns are currently being examined by the internal revenue service, tax years since 2016 remain open.”

Raw XML AppendixShowing 400 of 983 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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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-3468101
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-3576944
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt068475
IRS990/OccupancyGrp/TotalAmt068475
IRS990/OfficeExpensesGrp/ProgramServicesAmt015381
IRS990/OfficeExpensesGrp/TotalAmt015381
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0848331
IRS990/OtherAssetsTotalGrp/EOYAmt0861495
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENACE
IRS990/OtherExpensesGrp/Desc1REAL ESTATE TAXES
IRS990/OtherExpensesGrp/Desc2BAD DEBT EXPENSES
IRS990/OtherExpensesGrp/Desc3CONSULTING FEES
IRS990/OtherExpensesGrp/ProgramServicesAmt0118635
IRS990/OtherExpensesGrp/ProgramServicesAmt125317
IRS990/OtherExpensesGrp/ProgramServicesAmt212868
IRS990/OtherExpensesGrp/ProgramServicesAmt38620
IRS990/OtherExpensesGrp/TotalAmt0118635
IRS990/OtherExpensesGrp/TotalAmt125317
IRS990/OtherExpensesGrp/TotalAmt212868
IRS990/OtherExpensesGrp/TotalAmt38620
IRS990/OtherLiabilitiesGrp/BOYAmt080795
IRS990/OtherLiabilitiesGrp/EOYAmt026582
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0LAUNDRY AND VENDING
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03498
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03498
IRS990/OtherRevenueTotalAmt03498
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05648
IRS990/PrincipalOfficerNm0DERRICK LOVETT
IRS990/PriorPeriodAdjustmentsAmt055496
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0TENANT CHARGES
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0314270
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1292649
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0314270
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1292649
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0388
IRS990/PYOtherExpensesAmt0765797
IRS990/PYOtherRevenueAmt02289
IRS990/PYProgramServiceRevenueAmt0545195
IRS990/PYRevenuesLessExpensesAmt0-217925
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0765797
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0547872
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-164339
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0610417
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0LAUNDRY AND VENDING 2015 AMOUNT: $ 235. 2016 AMOUNT: $ 1,800. 2017 AMOUNT: $ 2,744. 2018 AMOUNT: $ 2,289. 2019 AMOUNT: $ 3,498.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART III, LINE 12, EXPLANATION FOR OTHER INCOME:
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0330
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0388
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0490
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0504
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0582
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02294
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0606919
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0545195
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0534848
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0537697
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0522028
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02746687
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0330
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0388
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0490
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0504
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0582
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02294
IRS990ScheduleA/InvestmentIncomeCYPct00.00080
IRS990ScheduleA/InvestmentIncomePYPct00.00110
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt03498
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt02289
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt02744
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01800
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0235
IRS990ScheduleA/OtherIncome509Grp/TotalAmt010566
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99530
IRS990ScheduleA/PublicSupportPY509Pct00.99620
IRS990ScheduleA/PublicSupportTotal509Amt02746687
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0606919
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0545195
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0534848
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0537697
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0522028
IRS990ScheduleA/Total509Grp/TotalAmt02746687
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0610747
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0547872
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0538082
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0540001
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0522845
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02759547
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03441897
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05509975
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08951872
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0775086
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt045000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt045000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt019940
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt18045
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2232315
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3601195
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSITS- UTILITY
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019940
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt16642
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO OWNER
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0610747
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY'S POLICY IS TO INCLUDE ANY PENALTIES AND INTEREST ACCESSED BY TAXING AUTHORITIES WITH EXCISE TAX EXPENSE. THE COMPANY'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IS SUBJECT TO AUDIT BY THE IRS FOR THE PRIOR THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2016 REMAIN OPEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03486897
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0861495
IRS990ScheduleD/TotalExpensesPerForm990Amt0775086
IRS990ScheduleD/TotalLiabilityAmt026582
IRS990ScheduleD/TotalRevenuePerForm990Amt0610747
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0610747
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0775086
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0204862
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt010145
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DERRICK LOVETT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0215007
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROPERTY IS MANAGED BY WAVECREST MANAGEMENT TEAM, LTD., AN UNAFFILIATED COMPANY PAID THE AMOUNT OF $ 47,331.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE CEO OF THE ORGANIZATION, BUT A FULL COPY IS NOT PRESENTED TO THE WHOLE BOARD.

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Filings

Displayed year

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

Open filing
Assets
$4,373,257
Liabilities
$7,950,201
Net assets
-$3,576,944
Revenue
$610,747
Expenses
$775,086
Net income
-$164,339
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.04$8.20$3.16$1.81$1.60$0.20
2023Detailed filing. Detailed filing data is available for this year.$4.66$8.03$3.36$1.95$1.49$0.46
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.31$8.14$3.83$1.88$1.34$0.53
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.98$8.16$4.18$1.06$1.05$0.01
2020Detailed filing. Detailed filing data is available for this year.$3.76$7.95$4.19$0.51$1.13$0.61
2019Detailed filing. Detailed filing data is available for this year.$4.37$7.95$3.58$0.61$0.78$0.16
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.58$8.05$3.47$0.55$0.77$0.22
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.72$7.97$3.25$0.54$0.73$0.19
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.89$7.95$3.06$0.54$0.83$0.29
2015Detailed filing. Detailed filing data is available for this year.$5.11$7.88$2.77$0.52$0.70$0.18
2014Detailed filing. Detailed filing data is available for this year.$5.31$7.89$2.59$0.53$0.65$0.12
2013Summary only. Only limited summary data is available for this year.$5.41$7.88$2.47$0.54$0.63$0.10
2012Summary only. Only limited summary data is available for this year.$5.54$9.17$3.63$0.54$1.92$1.37
2011Summary only. Only limited summary data is available for this year.$5.67$7.93$2.26$0.52$0.72$0.20
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.87$7.93$2.06$0.80
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