Civic Intelligence

Minford Gardens Housing Development Fund Company Inc.

990 • Fiscal year 2016 • EIN 13-3705921

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

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

95th percentile

1.85x

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

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

89th percentile

15.11x

Higher debt load relative to revenue than 89% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Net Margin

17th percentile

-44%

Higher net margin than 17% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

85th percentile

$223,648

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 41.0% of source-year revenue.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Asset Growth

8th percentile

-11%

Faster asset growth than 8% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

83rd percentile

18%

Faster revenue growth than 83% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$4,458,312

Down $534,947 (-11%) from 2015

Net Assets

Down

-$3,789,537

Down $238,890 (-6.7%) from 2015

Liabilities

Down

$8,247,849

Down $296,057 (-3.5%) from 2015

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin17th percentile

Revenue

Up

$545,811

Up $82,738 (+18%) from 2015

Expenses

Up

$784,701

Up $32,063 (+4.3%) from 2015

Net Income

Up

-$238,890

Up $50,675 (+18%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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

$10M$5.0M$0-$5.0MAssets 2010: $5,830,728Liabilities 2010: $7,984,171Net Assets 2010: -$2,153,4432010Assets 2011: $5,661,118Liabilities 2011: $8,059,628Net Assets 2011: -$2,398,5102011Assets 2012: $5,514,342Liabilities 2012: $8,177,524Net Assets 2012: -$2,663,1822012Assets 2013: $5,331,641Liabilities 2013: $8,278,886Net Assets 2013: -$2,947,2452013Assets 2014: $5,151,588Liabilities 2014: $8,412,670Net Assets 2014: -$3,261,0822014Assets 2015: $4,993,259Liabilities 2015: $8,543,906Net Assets 2015: -$3,550,6472015Assets 2016: $4,458,312Liabilities 2016: $8,247,849Net Assets 2016: -$3,789,5372016Assets 2017: $4,319,990Liabilities 2017: $8,326,724Net Assets 2017: -$4,006,7342017Assets 2018: $4,157,431Liabilities 2018: $8,350,570Net Assets 2018: -$4,193,1392018Assets 2019: $3,991,788Liabilities 2019: $8,306,633Net Assets 2019: -$4,314,8452019Assets 2020: $3,694,261Liabilities 2020: $7,964,772Net Assets 2020: -$4,270,5112020Assets 2021: $3,701,640Liabilities 2021: $7,932,075Net Assets 2021: -$4,230,4352021Assets 2022: $4,127,642Liabilities 2022: $8,262,204Net Assets 2022: -$4,134,5622022Assets 2023: $4,142,399Liabilities 2023: $8,065,846Net Assets 2023: -$3,923,4472023Assets 2024: $4,393,801Liabilities 2024: $8,226,115Net Assets 2024: -$3,832,3142024

Highlighted filing

2016

Assets$4,458,312
Liabilities$8,247,849
Net Assets-$3,789,537
Open 2016 Filing

Operations Trend

Revenue Growth83rd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $655,2232010Revenue 2011: $469,619Expenses 2011: $714,686Net Income 2011: -$245,0672011Revenue 2012: $463,622Expenses 2012: $728,294Net Income 2012: -$264,6722012Revenue 2013: $459,140Expenses 2013: $743,203Net Income 2013: -$284,0632013Revenue 2014: $463,562Expenses 2014: $777,399Net Income 2014: -$313,8372014Revenue 2015: $463,073Expenses 2015: $752,638Net Income 2015: -$289,5652015Revenue 2016: $545,811Expenses 2016: $784,701Net Income 2016: -$238,8902016Revenue 2017: $525,173Expenses 2017: $742,370Net Income 2017: -$217,1972017Revenue 2018: $513,800Expenses 2018: $700,205Net Income 2018: -$186,4052018Revenue 2019: $482,824Expenses 2019: $780,680Net Income 2019: -$297,8562019Revenue 2020: $930,152Expenses 2020: $885,818Net Income 2020: $44,3342020Revenue 2021: $933,196Expenses 2021: $893,120Net Income 2021: $40,0762021Revenue 2022: $1,299,366Expenses 2022: $1,111,394Net Income 2022: $187,9722022Revenue 2023: $1,337,971Expenses 2023: $1,126,856Net Income 2023: $211,1152023Revenue 2024: $1,337,324Expenses 2024: $1,246,191Net Income 2024: $91,1332024

Highlighted filing

2016

Revenue$545,811
Expenses$784,701
Net Income-$238,890
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$545,811
Mission and Program Overview

Mission

Minford gardens housing development fund company, inc. (the "company"), a not-for-profit company, was formed under the laws of the state of new york, on january 12, 1992, 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$4,333,015$4,146,996▼ $186,019
Intangible Assets$40,014--
Accounts Receivable$6,194$8,330▲ $2,136
Prepaid Expenses and Deferred Charges$5,014$3,638▼ $1,376
Cash and Non-Interest-Bearing Accounts$14,318$2,701▼ $11,617
Total Assets$4,993,259$4,458,312▼ $534,947
Other Assets Total$594,704$296,647▼ $298,057
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,705,936$7,931,227▲ $225,291
Accounts Payable and Accrued Expenses$814,970$292,592▼ $522,378
Other Liabilities$19,827$18,460▼ $1,367
Deferred Revenue$3,173$5,570▲ $2,397
Total Liabilities$8,543,906$8,247,849▼ $296,057
Net Assets / Fund Balance
Unrestricted Net Assets$-3,550,647$-3,789,537▼ $238,890
Total Net Assets Fund Balance$-3,550,647$-3,789,537▼ $238,890
Total Liabilities and Net Assets / Fund Balance$4,993,259$4,458,312▼ $534,947

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,102,402$3,091,069$7,193,471
Land$38,500-$38,500
Other Land Buildings$6,094$6,592$12,686
Other Assets Org$40,643--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleOtherTotal
Rubria M RodriguezFiscal Administrator$120,422$120,422

Board Members and Trustees

NameTitle
Wallace MobleyBoard Chair
Derrick LovettPresident/CEO
April HortonDirector
Carmen SilvaDirector
Deacon Joe TaylorDirector
Florence BlanchardDirector
Phyllis WilliamsDirector
James ShippTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$545,664
Investment Income
$147
Other Revenue
$0
Change in Net Assets
$-238,890

Audited Revenue Reconciliation

Revenue per Audited Statements
$545,811
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$545,811
Total Revenue per Form 990
$545,811
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$784,701
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$190,425--$190,425
Fees for Services Management$161,228--$161,228
Occupancy$157,462--$157,462
Interest$103,842--$103,842
Insurance$50,365--$50,365
Fees for Services Other$41,208--$41,208
Fees for Services Accounting-$12,085-$12,085
Office Expenses$9,049--$9,049
Fees for Services Legal$1,687--$1,687
Other Expenses$385--$385
Total Functional Expenses$772,616$12,085$0$784,701

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$784,701
Total Expenses per Audited Statements$784,701
Total Expenses per Form 990$784,701
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 deposits held in trust$18,460
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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 $ 45076.”

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

“Form 990 is reviewed by the CEO of the organization, but a full copy is not provided 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 ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN, FINANCIAL STATEMENTS , CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION, FORM 990, FORM 1023, AND BY-LAWS ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY.”

Filing and Contact Details

Filer

Filer Name
Minford Gardens Housing
EIN
13-3705921
Phone
7188420256
Address
1789 Southern Blvd, BRONX, NY 10460

Signing Officer

Name
Derrick Lovett
Title
presdient/CEO
Phone
7188420256
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derrick Lovett
Formed
1993
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Cohnreznick Llp
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Thomas Lanning
Phone
2122970400
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

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

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 2013 remain open.”

Raw XML AppendixShowing 400 of 907 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/OtherExpensesGrp/TotalAmt14919
IRS990/OtherExpensesGrp/TotalAmt2615
IRS990/OtherExpensesGrp/TotalAmt3385
IRS990/OtherLiabilitiesGrp/BOYAmt019827
IRS990/OtherLiabilitiesGrp/EOYAmt018460
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05014
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03638
IRS990/PrincipalOfficerNm0DERRICK LOVETT
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0Rental Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0545664
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0545664
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0235
IRS990/PYOtherExpensesAmt0752638
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0462838
IRS990/PYRevenuesLessExpensesAmt0-289565
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0752638
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0463073
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-238890
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0545664
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0147
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0235
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0297
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0630
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01179
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02488
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0545664
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0462838
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0463265
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0458510
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0462443
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02392720
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0147
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0235
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0297
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0630
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01179
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02488
IRS990ScheduleA/InvestmentIncomeCYPct00.00100
IRS990ScheduleA/InvestmentIncomePYPct00.00220
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99900
IRS990ScheduleA/PublicSupportPY509Pct00.99780
IRS990ScheduleA/PublicSupportTotal509Amt02392720
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0545664
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0462838
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0463265
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0458510
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0462443
IRS990ScheduleA/Total509Grp/TotalAmt02392720
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0545811
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0463073
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0463562
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0459140
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0463622
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02395208
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt04102402
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03091069
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07193471
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0784701
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt038500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt038500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt018604
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1237400
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt240643
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Reserve for replacements
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Residual receipts reserve
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06094
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06592
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012686
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018460
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant deposits held in trust
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0545811
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 2013 remain open.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04146996
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0296647
IRS990ScheduleD/TotalExpensesPerForm990Amt0784701
IRS990ScheduleD/TotalLiabilityAmt018460
IRS990ScheduleD/TotalRevenuePerForm990Amt0545811
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0545811
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0784701
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/CompensationBasedOnRltdOrgsAmt0170595
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt015925
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt037128
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DERRICK LOVETT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0223648
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROPERTY IS MANAGED BY WAVECREST MANAGEMENT TEAM, LTD., AN UNAFFILIATED COMPANY PAID THE AMOUNT OF $ 45076.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is reviewed by the CEO of the organization, but a full copy is not provided to the whole board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3the ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN, FINANCIAL STATEMENTS , CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION, FORM 990, FORM 1023, AND BY-LAWS ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4the selection process has not changed from prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2c:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd60
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd70
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd80
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd90
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd100
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd110
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd120
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd130
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd5N/A

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$4,458,312
Liabilities
$8,247,849
Net assets
-$3,789,537
Revenue
$545,811
Expenses
$784,701
Net income
-$238,890
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.39$8.23$3.83$1.34$1.25$0.09
2023Detailed filing. Detailed filing data is available for this year.$4.14$8.07$3.92$1.34$1.13$0.21
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.13$8.26$4.13$1.30$1.11$0.19
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.70$7.93$4.23$0.93$0.89$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.69$7.96$4.27$0.93$0.89$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.99$8.31$4.31$0.48$0.78$0.30
2018Detailed filing. Detailed filing data is available for this year.$4.16$8.35$4.19$0.51$0.70$0.19
2017Detailed filing. Detailed filing data is available for this year.$4.32$8.33$4.01$0.53$0.74$0.22
2016Detailed filing. Detailed filing data is available for this year.$4.46$8.25$3.79$0.55$0.78$0.24
2015Detailed filing. Detailed filing data is available for this year.$4.99$8.54$3.55$0.46$0.75$0.29
2014Detailed filing. Detailed filing data is available for this year.$5.15$8.41$3.26$0.46$0.78$0.31
2013Summary only. Only limited summary data is available for this year.$5.33$8.28$2.95$0.46$0.74$0.28
2012Summary only. Only limited summary data is available for this year.$5.51$8.18$2.66$0.46$0.73$0.26
2011Summary only. Only limited summary data is available for this year.$5.66$8.06$2.40$0.47$0.71$0.25
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.83$7.98$2.15$0.66