Civic Intelligence

Mt. Pleasant Housing Development Fund Co Inc.

990 • Fiscal year 2019 • EIN 13-3745063

Dec 01, 2018 to Nov 30, 2019 • Filed on Jul 28, 2020

Organization ProfileN/A
421 East 116th StreetNew York, NY 10029

(212) 410-3153

Siviq Scores

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

Liabilities / Assets

99th percentile

4.02x

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

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

Liabilities / Revenue

75th percentile

6.91x

Higher debt load relative to revenue than 75% of similar nonprofits.

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

Net Margin

15th percentile

-42%

Higher net margin than 15% of similar nonprofits.

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

Top Officer Pay

78th percentile

$203,976

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 20.0% of source-year revenue.

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

Asset Growth

12th percentile

-6.5%

Faster asset growth than 12% of similar nonprofits.

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

Revenue Growth

35th percentile

-0.0%

Faster revenue growth than 35% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$1,754,847

Down $121,957 (-6.5%) from 2018

Net Assets

Down

-$5,307,224

Down $428,064 (-8.8%) from 2018

Liabilities

Up

$7,062,071

Up $306,107 (+4.5%) from 2018

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin15th percentile

Revenue

Down

$1,022,337

Down $43 (-0.0%) from 2018

Expenses

Up

$1,450,401

Up $217,319 (+18%) from 2018

Net Income

Down

-$428,064

Down $217,362 (-103%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$10M$5.0M$0-$5.0M-$10MAssets 2011: $3,221,440Liabilities 2011: $6,696,107Net Assets 2011: -$3,474,6672011Assets 2012: $3,142,285Liabilities 2012: $6,704,856Net Assets 2012: -$3,562,5712012Assets 2014: $2,743,604Liabilities 2014: $6,543,674Net Assets 2014: -$3,800,0702014Assets 2015: $2,567,061Liabilities 2015: $6,545,721Net Assets 2015: -$3,978,6602015Assets 2016: $2,344,056Liabilities 2016: $6,633,374Net Assets 2016: -$4,289,3182016Assets 2017: $2,265,764Liabilities 2017: $6,934,222Net Assets 2017: -$4,668,4582017Assets 2018: $1,876,804Liabilities 2018: $6,755,964Net Assets 2018: -$4,879,1602018Assets 2019: $1,754,847Liabilities 2019: $7,062,071Net Assets 2019: -$5,307,2242019Assets 2020: $2,404,485Liabilities 2020: $7,531,812Net Assets 2020: -$5,127,3272020Assets 2021: $1,655,355Liabilities 2021: $6,716,873Net Assets 2021: -$5,061,5182021Assets 2022: $1,807,812Liabilities 2022: $7,062,131Net Assets 2022: -$5,254,3192022Assets 2023: $1,471,555Liabilities 2023: $7,323,915Net Assets 2023: -$5,852,3602023Assets 2024: $1,411,307Liabilities 2024: $7,321,666Net Assets 2024: -$5,910,3592024

Highlighted filing

2019

Assets$1,754,847
Liabilities$7,062,071
Net Assets-$5,307,224
Open 2019 Filing

Operations Trend

Revenue Growth35th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $601,223Expenses 2011: $777,843Net Income 2011: -$176,6202011Revenue 2012: $682,814Expenses 2012: $770,718Net Income 2012: -$87,9042012Revenue 2014: $675,579Expenses 2014: $812,944Net Income 2014: -$137,3652014Revenue 2015: $660,050Expenses 2015: $838,640Net Income 2015: -$178,5902015Revenue 2016: $636,512Expenses 2016: $947,170Net Income 2016: -$310,6582016Revenue 2017: $824,981Expenses 2017: $879,605Net Income 2017: -$54,6242017Revenue 2018: $1,022,380Expenses 2018: $1,233,082Net Income 2018: -$210,7022018Revenue 2019: $1,022,337Expenses 2019: $1,450,401Net Income 2019: -$428,0642019Revenue 2020: $1,594,318Expenses 2020: $1,414,421Net Income 2020: $179,8972020Revenue 2021: $1,491,829Expenses 2021: $1,426,020Net Income 2021: $65,8092021Revenue 2022: $1,228,054Expenses 2022: $1,420,855Net Income 2022: -$192,8012022Revenue 2023: $1,202,411Expenses 2023: $1,612,900Net Income 2023: -$410,4892023Revenue 2024: $1,279,809Expenses 2024: $1,388,076Net Income 2024: -$108,2672024

Highlighted filing

2019

Revenue$1,022,337
Expenses$1,450,401
Net Income-$428,064
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2018 to Nov 30, 2019
Signed
Jul 28, 2020
Return Version
2018v3.2
Gross Receipts
$1,022,337
Mission and Program Overview

Mission

To provide clean, affordable, safe housing for senior citizens in the local community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,508,873$1,284,517▼ $224,356
Prepaid Expenses and Deferred Charges$53,480$58,556▲ $5,076
Cash and Non-Interest-Bearing Accounts$4,938$31,235▲ $26,297
Accounts Receivable$5,323$26,434▲ $21,111
Total Assets$1,876,804$1,754,847▼ $121,957
Other Assets Total$304,190$354,105▲ $49,915
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,236,300$6,236,300→ $0
Other Liabilities$472,269$739,004▲ $266,735
Accounts Payable and Accrued Expenses$41,842$75,429▲ $33,587
Deferred Revenue$5,553$11,338▲ $5,785
Total Liabilities$6,755,964$7,062,071▲ $306,107
Net Assets / Fund Balance
Unrestricted Net Assets$-4,879,160$-5,307,224▼ $428,064
Total Net Assets Fund Balance$-4,879,160$-5,307,224▼ $428,064
Total Liabilities and Net Assets / Fund Balance$1,876,804$1,754,847▼ $121,957

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,242,075$5,055,571$6,297,646
Equipment$10,942$129,791$140,733
Other Land Buildings$0$35,716$35,716
Land$31,500-$31,500
Other Assets Org$752--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
John WarrenChairman
Kate LanglossChairman/director
Christopher CirilloExecutive Director/president
Rocco PapandreaVice President
Kristen SmithDirector
Margaret J DavinoDirector
Patricia FrancisDirector
Patricia SuarezDirector
Peter HandalDirector
Nadia DrewSecretary
Kristina WiigTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,021,430
Investment Income
$907
Other Revenue
$0
Change in Net Assets
$-428,064

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,022,337
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,022,337
Total Revenue per Form 990
$1,022,337
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,450,401
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
Fees for Services Management$315,946$76,543-$392,489
Occupancy$347,737--$347,737
Depreciation Depletion$235,436--$235,436
Interest$79,732--$79,732
Office Expenses$30,162--$30,162
Insurance$24,719--$24,719
Fees for Services Accounting-$21,943-$21,943
Fees for Services Other$18,346--$18,346
Other Expenses$5,115--$5,115
Fees for Services Legal$4,509--$4,509
Total Functional Expenses$1,351,915$98,486$0$1,450,401

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,450,401
Total Expenses per Audited Statements$1,450,401
Total Expenses per Form 990$1,450,401
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
Accrued Real Estate Taxes$559,748
Due to Related Party$164,886
Tenant Deposits Held in Trust$14,370
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 organization delegates management duties to lott cdc and the wavecrest management team, ltd.”

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

“A copy of the organziations 990 is provided to management for review and comments before filing.”

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

“The organization adopted a conflict of interest policy that required for all board members and officers to annually disclose and actual or potential conflicts of interest as they arise.”

Form 990, Part VI, Section B, Line 15

“Compensation is determined by a related organization using the following method: the process for determining compensation for the president and executive director is determined by an executive committee. To ensure competitiveness, wages are compared to other affordable housing organizations, both for- and not-for-profit, or the local market for positions applicable to a broader competitive market.”

Form 990, Part VI, Section C, Line 19

“All documents are available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Mt Pleasant Housing Development Fund
EIN
13-3745063
Phone
2124103153
Address
421 EAST 116TH STREET, NEW YORK, NY 10029

Signing Officer

Name
Christopher Cirillo
Title
Executive Director/president
Phone
2124103153
Signed
2020-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher Cirillo
Formed
1995
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
4 BECKER FARM ROAD, ROSELAND, NJ 07068
Preparer
Lori Rothe Yokobosky CPA
Phone
9732283500
Supplemental Narrative

Additional Explanations

FORM 990 PART XII, LINE 2C:

“The organization has a committee responsible for the oversight of the audit as well as the selection of the independent accountant.”

Financial Statement Notes

PART X, LINE 2:

“The corporation did not have any unrelated business income for the years ended november 30, 2019 and 2018. Due to its tax exempt status, the corporation is not subject to income taxes. The corporation is required to file and does file tax returns with the internal revenue service and other taxing authorities. Accordingly, no provision for income taxes has been included in the accompanying financial statements and the corporation has no other tax positions which must be considered for disclosure. Income tax returns filed by the corporation are subject to examination by the internal revenue service for a period of three years. While no income tax returns are currently being examined by the internal revenue service, tax years since ending on or after november 30, 2016 remain open.”

Raw XML AppendixShowing 400 of 751 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/OccupancyGrp/TotalAmt0347737
IRS990/OfficeExpensesGrp/ProgramServicesAmt030162
IRS990/OfficeExpensesGrp/TotalAmt030162
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0304190
IRS990/OtherAssetsTotalGrp/EOYAmt0354105
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0OPERATING & MAINT. EXPE
IRS990/OtherExpensesGrp/Desc1BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/Desc2MISC. TAXES, LICENSES A
IRS990/OtherExpensesGrp/ProgramServicesAmt0257151
IRS990/OtherExpensesGrp/ProgramServicesAmt133062
IRS990/OtherExpensesGrp/ProgramServicesAmt25115
IRS990/OtherExpensesGrp/TotalAmt0257151
IRS990/OtherExpensesGrp/TotalAmt133062
IRS990/OtherExpensesGrp/TotalAmt25115
IRS990/OtherLiabilitiesGrp/BOYAmt0472269
IRS990/OtherLiabilitiesGrp/EOYAmt0739004
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt053480
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt058556
IRS990/PrincipalOfficerNm0CHRISTOPHER CIRILLO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1TENANT CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01021380
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt150
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01021380
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt150
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0754
IRS990/PYOtherExpensesAmt01233082
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01021626
IRS990/PYRevenuesLessExpensesAmt0-210702
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01233082
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01022380
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-428064
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01021430
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0BANK CREDIT FEE - 2014 AMOUNT: $ 40.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0907
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0754
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0903
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0853
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt035
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03452
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01021430
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01021626
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0824078
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0635659
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0659975
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt04162768
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0907
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0754
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0903
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0853
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt035
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03452
IRS990ScheduleA/InvestmentIncomeCYPct00.00080
IRS990ScheduleA/InvestmentIncomePYPct00.00080
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt040
IRS990ScheduleA/OtherIncome509Grp/TotalAmt040
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99920
IRS990ScheduleA/PublicSupportPY509Pct00.99920
IRS990ScheduleA/PublicSupportTotal509Amt04162768
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01021430
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01021626
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0824078
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0635659
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0659975
IRS990ScheduleA/Total509Grp/TotalAmt04162768
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01022337
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01022380
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0824981
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0636512
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0660050
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04166260
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01242075
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05055571
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06297646
IRS990ScheduleD/EquipmentGrp/BookValueAmt010942
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0129791
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0140733
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01450401
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt031500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt031500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt011425
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt114645
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2327283
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3752
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UTILITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT DEPOSITS HELD IN TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3MISCELLANEOUS OTHER ASSET
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt035716
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt035716
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014370
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1164886
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2559748
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS HELD IN TRUST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO RELATED PARTY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED REAL ESTATE TAXES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01022337
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED NOVEMBER 30, 2019 AND 2018. DUE TO ITS TAX EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND OTHER TAXING AUTHORITIES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE ENDING ON OR AFTER NOVEMBER 30, 2016 REMAIN OPEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01284517
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0354105
IRS990ScheduleD/TotalExpensesPerForm990Amt01450401
IRS990ScheduleD/TotalLiabilityAmt0739004
IRS990ScheduleD/TotalRevenuePerForm990Amt01022337
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01022337
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01450401
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt010000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0161706
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt032270
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CHRISTOPHER CIRILLO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR/PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0203976
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATES MANAGEMENT DUTIES TO LOTT CDC AND THE WAVECREST MANAGEMENT TEAM, LTD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE ORGANZIATIONS 990 IS PROVIDED TO MANAGEMENT FOR REVIEW AND COMMENTS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION ADOPTED A CONFLICT OF INTEREST POLICY THAT REQUIRED FOR ALL BOARD MEMBERS AND OFFICERS TO ANNUALLY DISCLOSE AND ACTUAL OR POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION USING THE FOLLOWING METHOD: THE PROCESS FOR DETERMINING COMPENSATION FOR THE PRESIDENT AND EXECUTIVE DIRECTOR IS DETERMINED BY AN EXECUTIVE COMMITTEE. TO ENSURE COMPETITIVENESS, WAGES ARE COMPARED TO OTHER AFFORDABLE HOUSING ORGANIZATIONS, BOTH FOR- AND NOT-FOR-PROFIT, OR THE LOCAL MARKET FOR POSITIONS APPLICABLE TO A BROADER COMPETITIVE MARKET.

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Filings

Displayed year

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

Open filing
Assets
$1,754,847
Liabilities
$7,062,071
Net assets
-$5,307,224
Revenue
$1,022,337
Expenses
$1,450,401
Net income
-$428,064
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.41$7.32$5.91$1.28$1.39$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.47$7.32$5.85$1.20$1.61$0.41
2022Detailed filing. Detailed filing data is available for this year.$1.81$7.06$5.25$1.23$1.42$0.19
2021Detailed filing. Detailed filing data is available for this year.$1.66$6.72$5.06$1.49$1.43$0.07
2020Detailed filing. Detailed filing data is available for this year.$2.40$7.53$5.13$1.59$1.41$0.18
2019Detailed filing. Detailed filing data is available for this year.$1.75$7.06$5.31$1.02$1.45$0.43
2018Detailed filing. Detailed filing data is available for this year.$1.88$6.76$4.88$1.02$1.23$0.21
2017Detailed filing. Detailed filing data is available for this year.$2.27$6.93$4.67$0.82$0.88$0.05
2016Detailed filing. Detailed filing data is available for this year.$2.34$6.63$4.29$0.64$0.95$0.31
2015Detailed filing. Detailed filing data is available for this year.$2.57$6.55$3.98$0.66$0.84$0.18
2014Detailed filing. Detailed filing data is available for this year.$2.74$6.54$3.80$0.68$0.81$0.14
2012Summary only. Only limited summary data is available for this year.$3.14$6.70$3.56$0.68$0.77$0.09
2011Summary only. Only limited summary data is available for this year.$3.22$6.70$3.47$0.60$0.78$0.18