Civic Intelligence

Hoosick Housing Development Fund Company Inc.

990 • Fiscal year 2020 • EIN 14-1694558

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 14, 2021

PO Box 149Hoosick Falls, NY 12090

(518) 686-7316

Siviq Scores

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

Liabilities / Assets

97th percentile

2.31x

Higher debt load relative to assets than 97% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

3.96x

Higher debt load relative to revenue than 98% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

32nd percentile

-6.0%

Higher net margin than 32% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

36th percentile

-3.4%

Faster asset growth than 36% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

60th percentile

-3.3%

Faster revenue growth than 60% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$389,610

Down $13,704 (-3.4%) from 2019

Net Assets

Down

-$508,443

Down $13,707 (-2.8%) from 2019

Liabilities

Up

$898,053

Up $3 (+0.0%) from 2019

Revenue

Down

$227,038

Down $7,821 (-3.3%) from 2019

Expenses

Down

$240,745

Down $1,380 (-0.6%) from 2019

Net Income

Down

-$13,707

Down $6,441 (-89%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500K-$1.0MAssets 2011: $581,778Liabilities 2011: $989,263Net Assets 2011: -$407,4852011Assets 2012: $555,262Liabilities 2012: $975,025Net Assets 2012: -$419,7632012Assets 2013: $540,917Liabilities 2013: $965,862Net Assets 2013: -$424,9452013Assets 2014: $503,418Liabilities 2014: $960,283Net Assets 2014: -$456,8652014Assets 2015: $476,801Liabilities 2015: $951,506Net Assets 2015: -$474,7052015Assets 2016: $467,754Liabilities 2016: $950,550Net Assets 2016: -$482,7962016Assets 2017: $446,421Liabilities 2017: $934,050Net Assets 2017: -$487,6292017Assets 2018: $427,232Liabilities 2018: $914,702Net Assets 2018: -$487,4702018Assets 2019: $403,314Liabilities 2019: $898,050Net Assets 2019: -$494,7362019Assets 2020: $389,610Liabilities 2020: $898,053Net Assets 2020: -$508,4432020Assets 2021: $381,915Liabilities 2021: $894,409Net Assets 2021: -$512,4942021Assets 2022: $336,228Liabilities 2022: $867,777Net Assets 2022: -$531,5492022Assets 2023: $315,721Liabilities 2023: $837,755Net Assets 2023: -$522,0342023Assets 2024: $308,454Liabilities 2024: $817,449Net Assets 2024: -$508,9952024

Highlighted filing

2020

Assets$389,610
Liabilities$898,053
Net Assets-$508,443

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2011: $213,9742011Expenses 2012: $219,6602012Revenue 2013: $211,374Expenses 2013: $216,556Net Income 2013: -$5,1822013Revenue 2014: $212,339Expenses 2014: $244,259Net Income 2014: -$31,9202014Revenue 2015: $220,294Expenses 2015: $235,581Net Income 2015: -$15,2872015Revenue 2016: $221,184Expenses 2016: $229,275Net Income 2016: -$8,0912016Revenue 2017: $229,324Expenses 2017: $234,157Net Income 2017: -$4,8332017Revenue 2018: $239,043Expenses 2018: $238,884Net Income 2018: $1592018Revenue 2019: $234,859Expenses 2019: $242,125Net Income 2019: -$7,2662019Revenue 2020: $227,038Expenses 2020: $240,745Net Income 2020: -$13,7072020Revenue 2021: $252,687Expenses 2021: $256,738Net Income 2021: -$4,0512021Revenue 2022: $246,767Expenses 2022: $265,822Net Income 2022: -$19,0552022Revenue 2023: $269,202Expenses 2023: $259,687Net Income 2023: $9,5152023Revenue 2024: $279,945Expenses 2024: $266,906Net Income 2024: $13,0392024

Highlighted filing

2020

Revenue$227,038
Expenses$240,745
Net Income-$13,707
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 14, 2021
Return Version
2020v4.0
Gross Receipts
$227,038
Mission and Program Overview

Mission

The organization provides affortable housing to elderly citizens with low income.

To provide low rent housing to elderly individuals with low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$332,534$302,819▼ $29,715
Cash and Non-Interest-Bearing Accounts$1,379$6,507▲ $5,128
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Rtn Earn Endowment Incm Other Fnds$-494,736$-508,443▼ $13,707
Total Assets$403,314$389,610▼ $13,704
Other Assets Total$69,401$80,284▲ $10,883
Liabilities
Mortgage Notes Payable Secured by Investment Property$876,558$860,075▼ $16,483
Other Liabilities$8,134$19,287▲ $11,153
Accounts Payable and Accrued Expenses$6,717$12,048▲ $5,331
Escrow Account Liability$6,641$6,641→ $0
Deferred Revenue-$2-
Total Liabilities$898,050$898,053▲ $3
Net Assets / Fund Balance
Total Net Assets Fund Balance$-494,736$-508,443▼ $13,707
Total Liabilities and Net Assets / Fund Balance$403,314$389,610▼ $13,704

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$280,698$929,662$1,210,360
Leasehold Improvements-$22,475$22,475
Land$22,121-$22,121
Other Assets Org$6,641--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Anne KeeganChairman
Lauren MacPhersonVice Chair
Christina KovageCommissioner
Kathy BugbeeCommissioner
Joyce BrewerTreasurer/Sec
Revenue and Support

Revenue Composition

Contributions and Grants
$139,367
Program Service Revenue
$86,014
Investment Income
$0
Other Revenue
$1,657
Change in Net Assets
$-13,707
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$240,745
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
Interest$72,313--$72,313
Occupancy$71,965--$71,965
Depreciation Depletion$33,957--$33,957
Fees for Services Management$28,666--$28,666
Insurance$16,304--$16,304
Office Expenses$5,747--$5,747
Fees for Services Accounting$2,933--$2,933
Fees for Services Legal$1,375--$1,375
Other Expenses$202--$202
Total Functional Expenses$240,745$0$0$240,745
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Gasb 68 Pension Accrual$16,979
Compensated Absences$1,559
Deferred Inflows of Resources$749
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Hoosick housing development fund co inc has entered into a management services agreement with the town of hoosick housing authority for ongoing operating management services. Management fees for the year ended december 31, 2019 were $29,853.

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Hoosick Housing Development Fund Co Inc
EIN
14-1694558
Phone
5186867316
Address
PO BOX 149, HOOSICK FALLS, NY 12090

Signing Officer

Name
Anne Keegan
Title
Chairman
Signed
2021-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1987
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
4
Employees
0

Preparer

Firm
Nolan Cert Public Accounting Svs Pllc
Address
243 COUNTY ROUTE 68, EAGLE BRIDGE, NY 12057
Preparer
Tara Nolan
Phone
5188926289
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

The escrow liability on part x line 21 consists of tenant securiy deposits which are held in a separate bank account. The deposits are returned to the teant upon termination of the lease

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0147109
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0139659
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0724098
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt02
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt011
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt01811
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt02410
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt01876
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt01942
IRS990ScheduleA/OtherIncome170Grp/TotalAmt08039
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.98900
IRS990ScheduleA/PublicSupportPY170Pct00.98610
IRS990ScheduleA/PublicSupportTotal170Amt0724098
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0139637
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0146223
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0151470
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0147109
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0139659
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0724098
IRS990ScheduleA/TotalSupportAmt0732148
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0280698
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0929662
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01210360
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt022121
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt022121
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt022475
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt022475
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt014512
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt159131
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt26641
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOW OF RESOURCES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1FMHA RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REAL ESTATE INSURANCE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01559
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1749
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt216979
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0COMPENSATED ABSENCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2GASB 68 PENSION ACCRUAL
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ESCROW LIABILITY ON PART X LINE 21 CONSISTS OF TENANT SECURIY DEPOSITS WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE RETURNED TO THE TEANT UPON TERMINATION OF THE LEASE
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b: Explanation of escrow account liability
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0302819
IRS990ScheduleD/TotalBookValueOtherAssetsAmt080284
IRS990ScheduleD/TotalLiabilityAmt019287
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HOOSICK HOUSING DEVELOPMENT FUND CO INC HAS ENTERED INTO A MANAGEMENT SERVICES AGREEMENT WITH THE TOWN OF HOOSICK HOUSING AUTHORITY FOR ONGOING OPERATING MANAGEMENT SERVICES. MANAGEMENT FEES FOR THE YEAR ENDED DECEMBER 31, 2019 WERE $29,853.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TOWN OF HOOSICK HOUSING AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0141586334
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 149
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0HOOSICK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd012090
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0403314
IRS990/TotalAssetsEOYAmt0389610
IRS990/TotalAssetsGrp/BOYAmt0403314
IRS990/TotalAssetsGrp/EOYAmt0389610
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0139367
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0240745
IRS990/TotalFunctionalExpensesGrp/TotalAmt0240745
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0898050
IRS990/TotalLiabilitiesEOYAmt0898053
IRS990/TotalLiabilitiesGrp/BOYAmt0898050
IRS990/TotalLiabilitiesGrp/EOYAmt0898053
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-494736
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-508443

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.08$8.17$5.09$2.80$2.67$0.13
2023Detailed filing. Detailed filing data is available for this year.$3.16$8.38$5.22$2.69$2.60$0.10
2022Detailed filing. Detailed filing data is available for this year.$3.36$8.68$5.32$2.47$2.66$0.19
2021Detailed filing. Detailed filing data is available for this year.$3.82$8.94$5.12$2.53$2.57$0.04
2020Detailed filing. Detailed filing data is available for this year.$3.90$8.98$5.08$2.27$2.41$0.14
2019Detailed filing. Detailed filing data is available for this year.$4.03$8.98$4.95$2.35$2.42$0.07
2018Detailed filing. Detailed filing data is available for this year.$4.27$9.15$4.87$2.39$2.39$0.00
2017Detailed filing. Detailed filing data is available for this year.$4.46$9.34$4.88$2.29$2.34$0.05
2016Detailed filing. Detailed filing data is available for this year.$4.68$9.51$4.83$2.21$2.29$0.08
2015Detailed filing. Detailed filing data is available for this year.$4.77$9.52$4.75$2.20$2.36$0.15
2014Detailed filing. Detailed filing data is available for this year.$5.03$9.60$4.57$2.12$2.44$0.32
2013Detailed filing. Detailed filing data is available for this year.$5.41$9.66$4.25$2.11$2.17$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.55$9.75$4.20$2.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.82$9.89$4.07$2.14