Civic Intelligence

Mt. Pleasant Housing Development Fund Co Inc.

990 • Fiscal year 2023 • EIN 13-3745063

Dec 01, 2022 to Nov 30, 2023 • Filed on Oct 15, 2024

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

4.98x

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

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

75th percentile

6.09x

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

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Net Margin

20th percentile

-34%

Higher net margin than 20% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

79th percentile

$234,641

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 19.5% of source-year revenue.

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Asset Growth

4th percentile

-19%

Faster asset growth than 4% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

26th percentile

-2.1%

Faster revenue growth than 26% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$1,471,555

Down $336,257 (-19%) from 2022

Net Assets

Down

-$5,852,360

Down $598,041 (-11%) from 2022

Liabilities

Up

$7,323,915

Up $261,784 (+3.7%) from 2022

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin20th percentile

Revenue

Down

$1,202,411

Down $25,643 (-2.1%) from 2022

Expenses

Up

$1,612,900

Up $192,045 (+14%) from 2022

Net Income

Down

-$410,489

Down $217,688 (-113%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$10M$5.0M$0-$5.0M-$10MAssets 2011: $3,221,440Liabilities 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

2023

Assets$1,471,555
Liabilities$7,323,915
Net Assets-$5,852,360
Open 2023 Filing

Operations Trend

Revenue Growth26th 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

2023

Revenue$1,202,411
Expenses$1,612,900
Net Income-$410,489
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2022 to Nov 30, 2023
Signed
Oct 15, 2024
Return Version
2022v5.0
Gross Receipts
$1,202,411
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$573,960$336,680▼ $237,280
Cash and Non-Interest-Bearing Accounts$19,199$153,075▲ $133,876
Prepaid Expenses and Deferred Charges$173,541$79,060▼ $94,481
Accounts Receivable$538,858$8,512▼ $530,346
Total Assets$1,807,812$1,471,555▼ $336,257
Other Assets Total$502,254$894,228▲ $391,974
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,236,300$6,236,300→ $0
Accounts Payable and Accrued Expenses$539,621$586,495▲ $46,874
Other Liabilities$222,562$468,884▲ $246,322
Deferred Revenue$50,909$16,852▼ $34,057
Escrow Account Liability$12,739$15,384▲ $2,645
Total Liabilities$7,062,131$7,323,915▲ $261,784
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-5,254,319$-5,852,360▼ $598,041
Total Net Assets Fund Balance$-5,254,319$-5,852,360▼ $598,041
Total Liabilities and Net Assets / Fund Balance$1,807,812$1,471,555▼ $336,257

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$303,455$6,019,725$6,323,180
Equipment$0$105,659$105,659
Other Land Buildings$1,725$45,071$46,796
Land$31,500-$31,500
Other Assets Org$426,428--
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
John WarrenBoard Chairman
Christopher CirilloExecutive Dir/ President
Rocco PapandreaVice Chairman
Kent LanglossDirector
Kristen SmithDirector
Margaret J DavinoDirector
Patricia FrancisDirector
Patricio SuarezDirector
Peter HandalDirector
Nadia DrewSecretary
Kristina WiigTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,201,165
Investment Income
$1,246
Other Revenue
$0
Change in Net Assets
$-410,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,612,900
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$360,987$163,137-$524,124
Occupancy$401,222--$401,222
Depreciation Depletion$237,280--$237,280
Insurance$124,252--$124,252
Office Expenses$35,362$144-$35,506
Fees for Services Accounting-$25,625-$25,625
Fees for Services Legal$15,109--$15,109
Other Expenses$4,826--$4,826
Fees for Services Other$3,000--$3,000
Total Functional Expenses$1,423,994$188,906$0$1,612,900
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$247,826
Due to Related Party$221,058
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 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 organizations 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 any 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
2024-10-15
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
10

Preparer

Firm
Cohnreznick Llp
Address
14 SYLVAN WAY, PARSIPPANY, NJ 07054-3801
Preparer
Lori Rothe Yokobosky CPA
Phone
9732283500
Supplemental Narrative

Additional Explanations

FORM 990, PART IV, LINE 12A:

“As of the date of filing the audit has not yet been completed. Form 990 has been prepared based on the best information available. Should information substantially change upon completion of the audit, appropriate action will be taken.”

Financial Statement Notes

PART IV, LINE 2B:

“The organization maintains security deposits as required by state law.”

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IRS990/OtherExpensesGrp/ProgramServicesAmt187987
IRS990/OtherExpensesGrp/ProgramServicesAmt26845
IRS990/OtherExpensesGrp/ProgramServicesAmt34826
IRS990/OtherExpensesGrp/TotalAmt0147124
IRS990/OtherExpensesGrp/TotalAmt187987
IRS990/OtherExpensesGrp/TotalAmt26845
IRS990/OtherExpensesGrp/TotalAmt34826
IRS990/OtherLiabilitiesGrp/BOYAmt0222562
IRS990/OtherLiabilitiesGrp/EOYAmt0468884
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0173541
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt079060
IRS990/PrincipalOfficerNm0CHRISTOPHER CIRILLO
IRS990/PriorPeriodAdjustmentsAmt0-187552
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1532000
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1TENANT CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01201090
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt175
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01201090
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt175
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0823
IRS990/PYOtherExpensesAmt01420855
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01227231
IRS990/PYRevenuesLessExpensesAmt0-192801
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01420855
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01228054
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-410489
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01201165
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01246
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0823
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0584
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0759
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0907
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt04319
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01201165
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01227231
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01491245
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01593559
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01021430
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt06534630
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01246
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0823
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0584
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0759
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0907
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt04319
IRS990ScheduleA/InvestmentIncomeCYPct00.00070
IRS990ScheduleA/InvestmentIncomePYPct00.00060
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99930
IRS990ScheduleA/PublicSupportPY509Pct00.99940
IRS990ScheduleA/PublicSupportTotal509Amt06534630
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01201165
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01227231
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01491245
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01593559
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01021430
IRS990ScheduleA/Total509Grp/TotalAmt06534630
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01202411
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01228054
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01491829
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01594318
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01022337
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06538949
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0303455
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06019725
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06323180
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0105659
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0105659
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt031500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt031500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt011981
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt112712
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2442354
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3753
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4426428
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UTILITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT DEPOSITS HELD IN TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3MISCELLANEOUS OTHER ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DUE FROM AFFILIATES
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01725
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt045071
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt046796
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0221058
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1247826
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED REAL ESTATE TAXES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAINTAINS SECURITY DEPOSITS AS REQUIRED BY STATE LAW.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0336680
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0894228
IRS990ScheduleD/TotalLiabilityAmt0468884
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/CompensationBasedOnRltdOrgsAmt0195000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt039641
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CHRISTOPHER CIRILLO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIR/ PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0234641
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AS OF THE DATE OF FILING THE AUDIT HAS NOT YET BEEN COMPLETED. FORM 990 HAS BEEN PREPARED BASED ON THE BEST INFORMATION AVAILABLE. SHOULD INFORMATION SUBSTANTIALLY CHANGE UPON COMPLETION OF THE AUDIT, APPROPRIATE ACTION WILL BE TAKEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DELEGATES MANAGEMENT DUTIES TO LOTT CDC AND THE WAVECREST MANAGEMENT TEAM, LTD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE ORGANIZATIONS 990 IS PROVIDED TO MANAGEMENT FOR REVIEW AND COMMENTS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION ADOPTED A CONFLICT OF INTEREST POLICY THAT REQUIRED FOR ALL BOARD MEMBERS AND OFFICERS TO ANNUALLY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART IV, LINE 12A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,471,555
Liabilities
$7,323,915
Net assets
-$5,852,360
Revenue
$1,202,411
Expenses
$1,612,900
Net income
-$410,489
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