Civic Intelligence

Sj Housing Development Fund Company Inc

990 • Fiscal year 2018 • EIN 14-1711633

Oct 01, 2017 to Sep 30, 2018 • Filed on Feb 07, 2019

41 North Main AvenueAlbany, NY 12203

(518) 459-0183

Siviq Scores

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

Liabilities / Assets

95th percentile

1.36x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

6.34x

Higher debt load relative to revenue than 96% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

24th percentile

-7.2%

Higher net margin than 24% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

34th percentile

-2.5%

Faster asset growth than 34% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

47th percentile

2.8%

Faster revenue growth than 47% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$2,339,643

Down $59,322 (-2.5%) from 2017

Net Assets

Down

-$843,382

Down $35,980 (-4.5%) from 2017

Liabilities

Down

$3,183,025

Down $23,342 (-0.7%) from 2017

Revenue

Up

$501,959

Up $13,689 (+2.8%) from 2017

Expenses

Up

$537,939

Up $26,342 (+5.1%) from 2017

Net Income

Down

-$35,980

Down $12,653 (-54%) from 2017

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0MAssets 2011: $1,308,268Liabilities 2011: $2,101,103Net Assets 2011: -$792,8352011Assets 2012: $1,445,146Liabilities 2012: $2,184,490Net Assets 2012: -$739,3442012Assets 2013: $1,277,993Liabilities 2013: $2,011,170Net Assets 2013: -$733,1772013Assets 2014: $1,248,274Liabilities 2014: $1,975,865Net Assets 2014: -$727,5912014Assets 2015: $2,559,301Liabilities 2015: $3,302,061Net Assets 2015: -$742,7602015Assets 2016: $2,470,182Liabilities 2016: $3,254,257Net Assets 2016: -$784,0752016Assets 2017: $2,398,965Liabilities 2017: $3,206,367Net Assets 2017: -$807,4022017Assets 2018: $2,339,643Liabilities 2018: $3,183,025Net Assets 2018: -$843,3822018Assets 2019: $2,269,045Liabilities 2019: $3,127,300Net Assets 2019: -$858,2552019Assets 2020: $2,169,152Liabilities 2020: $3,069,925Net Assets 2020: -$900,7732020Assets 2021: $2,104,496Liabilities 2021: $3,001,970Net Assets 2021: -$897,4742021Assets 2022: $2,038,289Liabilities 2022: $2,967,580Net Assets 2022: -$929,2912022Assets 2023: $1,967,472Liabilities 2023: $2,901,702Net Assets 2023: -$934,2302023Assets 2024: $1,910,638Liabilities 2024: $2,861,912Net Assets 2024: -$951,2742024Assets 2025: $1,813,592Liabilities 2025: $2,791,191Net Assets 2025: -$977,5992025

Highlighted filing

2018

Assets$2,339,643
Liabilities$3,183,025
Net Assets-$843,382

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $486,357Expenses 2011: $476,459Net Income 2011: $9,8982011Revenue 2012: $499,605Expenses 2012: $446,114Net Income 2012: $53,4912012Revenue 2013: $468,947Expenses 2013: $457,305Net Income 2013: $11,6422013Revenue 2014: $469,006Expenses 2014: $463,420Net Income 2014: $5,5862014Revenue 2015: $465,584Expenses 2015: $481,677Net Income 2015: -$16,0932015Revenue 2016: $472,556Expenses 2016: $513,871Net Income 2016: -$41,3152016Revenue 2017: $488,270Expenses 2017: $511,597Net Income 2017: -$23,3272017Revenue 2018: $501,959Expenses 2018: $537,939Net Income 2018: -$35,9802018Revenue 2019: $510,903Expenses 2019: $525,776Net Income 2019: -$14,8732019Revenue 2020: $510,394Expenses 2020: $552,912Net Income 2020: -$42,5182020Revenue 2021: $523,334Expenses 2021: $520,035Net Income 2021: $3,2992021Revenue 2022: $523,433Expenses 2022: $555,250Net Income 2022: -$31,8172022Revenue 2023: $536,526Expenses 2023: $541,465Net Income 2023: -$4,9392023Revenue 2024: $556,592Expenses 2024: $573,636Net Income 2024: -$17,0442024Revenue 2025: $587,164Expenses 2025: $613,489Net Income 2025: -$26,3252025

Highlighted filing

2018

Revenue$501,959
Expenses$537,939
Net Income-$35,980
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Feb 7, 2019
Return Version
2017v2.2
Gross Receipts
$501,959
Mission and Program Overview

Mission

Low-income housing for the elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,815,059$1,731,305▼ $83,754
Savings and Temporary Cash Investments$348,710$359,051▲ $10,341
Intangible Assets$155,171$150,372▼ $4,799
Cash and Non-Interest-Bearing Accounts$37,701$45,292▲ $7,591
Prepaid Expenses and Deferred Charges$21,208$24,496▲ $3,288
Accounts Receivable-$6,623-
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-
Inventories for Sale or Use-$0-
Total Assets$2,398,965$2,339,643▼ $59,322
Other Assets Total$21,116$22,504▲ $1,388
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,158,258$3,119,234▼ $39,024
Accounts Payable and Accrued Expenses$27,192$41,676▲ $14,484
Other Liabilities$20,917$21,943▲ $1,026
Deferred Revenue-$172-
Total Liabilities$3,206,367$3,183,025▼ $23,342
Net Assets / Fund Balance
Unrestricted Net Assets$-807,402$-843,382▼ $35,980
Total Net Assets Fund Balance$-807,402$-843,382▼ $35,980
Total Liabilities and Net Assets / Fund Balance$2,398,965$2,339,643▼ $59,322

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,704,298$2,307,307$4,011,605
Other Land Buildings$289$72,072$72,361
Equipment$1,751$58,197$59,948
Land$24,967-$24,967
Compensation and Service Providers

Board Members and Trustees

NameTitle
Richard GalvinPresident
Andrew G CeresiaDirector
William DedrickDirector
Jan MedvedTreasurer
Thomas CoatesVP/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$298,208
Program Service Revenue
$200,309
Investment Income
$442
Other Revenue
$3,000
Change in Net Assets
$-35,980

Audited Revenue Reconciliation

Revenue per Audited Statements
$501,959
Total Revenue per Audited Statements
$501,959
Total Revenue per Form 990
$501,959
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$474,512
Salaries, Compensation, and Employee Benefits$63,427
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$142,595--$142,595
Depreciation Depletion$102,606--$102,606
Office Expenses$80,560$8,717-$89,277
Occupancy$75,656--$75,656
Other Salaries and Wages$9,852$42,651-$52,503
Fees for Services Management-$29,711-$29,711
Fees for Services Accounting-$16,406-$16,406
Insurance$15,490--$15,490
Other Employee Benefits$7,770--$7,770
Payroll Taxes$3,154--$3,154
Fees for Services Legal-$1,910-$1,910
Advertising-$668-$668
Other Expenses-$193-$193
Total Functional Expenses$437,683$100,256$0$537,939

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$537,939
Total Expenses per Audited Statements$537,939
Total Expenses per Form 990$537,939
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
Tenant Security Deposits$21,943
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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

The Project entered into a management agreement with DePaul Housing Management Company, whereby in return for providing management services to the Project.

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

Form 990 was presented, reviewed and approved by board of directors.

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

upon request.

Filing and Contact Details

Filer

Filer Name
Sj Housing Development Fund
EIN
14-1711633
Phone
5184590183
Address
41 NORTH MAIN AVENUE, ALBANY, NY 12203

Signing Officer

Name
Richard Galvin
Title
President
Signed
2019-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Galvin
Formed
1985
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
CNA Tax Professionals Inc
Address
8606 Allisonville Rd Ste 120, Indianapolis, IN 46250
Preparer
Shawn D Dreiman CPA
Phone
3178413393
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The entity adopted the FASB standard for Accounting for Uncertainty in Income Taxes, the entity recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit is recorded.

Raw XML Appendix387 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/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0273
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0449130
IRS990/PYOtherRevenueAmt03000
IRS990/PYProgramServiceRevenueAmt0180611
IRS990/PYRevenuesLessExpensesAmt0-23327
IRS990/PYSalariesCompEmpBnftPaidAmt062467
IRS990/PYTotalExpensesAmt0511597
IRS990/PYTotalRevenueAmt0488270
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-35980
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0203309
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0348710
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0359051
IRS990ScheduleA/ChurchInd0X
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01704298
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02307307
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04011605
IRS990ScheduleD/EquipmentGrp/BookValueAmt01751
IRS990ScheduleD/EquipmentGrp/DepreciationAmt058197
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt059948
IRS990ScheduleD/ExpensesSubtotalAmt0537939
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt024967
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt024967
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0289
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt072072
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt072361
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021943
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0501959
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The entity adopted the FASB standard for Accounting for Uncertainty in Income Taxes, the entity recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit is recorded.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01731305
IRS990ScheduleD/TotalExpensesPerForm990Amt0537939
IRS990ScheduleD/TotalLiabilityAmt021943
IRS990ScheduleD/TotalRevenuePerForm990Amt0501959
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0501959
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0537939
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Project entered into a management agreement with DePaul Housing Management Company, whereby in return for providing management services to the Project.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS PRESENTED, REVIEWED AND APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2upon request.
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02398965
IRS990/TotalAssetsEOYAmt02339643
IRS990/TotalAssetsGrp/BOYAmt02398965
IRS990/TotalAssetsGrp/EOYAmt02339643
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0298208
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0100256
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0437683
IRS990/TotalFunctionalExpensesGrp/TotalAmt0537939
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03206367
IRS990/TotalLiabilitiesEOYAmt03183025
IRS990/TotalLiabilitiesGrp/BOYAmt03206367
IRS990/TotalLiabilitiesGrp/EOYAmt03183025
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-807402
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-843382
IRS990/TotalProgramServiceExpensesAmt0437683
IRS990/TotalProgramServiceRevenueAmt0200309
IRS990/TotalRevenueGrp/ExclusionAmt0442
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0203309
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0501959
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02398965
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02339643
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-807402
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-843382
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt012 SADDLE HILL ROAD
IRS990/USAddress/CityNm0WYNANTSKILL
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012198
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.rcda.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD GALVIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-02-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SJ HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0SJHO
ReturnHeader/Filer/EIN0141711633
ReturnHeader/Filer/PhoneNum05184590183
ReturnHeader/Filer/USAddress/AddressLine1Txt041 NORTH MAIN AVENUE
ReturnHeader/Filer/USAddress/CityNm0ALBANY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012203
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0352102008
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CNA Tax Professionals Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08606 Allisonville Rd Ste 120
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Indianapolis
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046250
ReturnHeader/PreparerPersonGrp/PhoneNum03178413393
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Shawn D Dreiman CPA
ReturnHeader/ReturnTs02019-02-07T11:02:01-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.81$2.79$0.98$0.59$0.61$0.03
2024Detailed filing. Detailed filing data is available for this year.$1.91$2.86$0.95$0.56$0.57$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.97$2.90$0.93$0.54$0.54$0.00
2022Detailed filing. Detailed filing data is available for this year.$2.04$2.97$0.93$0.52$0.56$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$3.00$0.90$0.52$0.52$0.00
2020Detailed filing. Detailed filing data is available for this year.$2.17$3.07$0.90$0.51$0.55$0.04
2019Detailed filing. Detailed filing data is available for this year.$2.27$3.13$0.86$0.51$0.53$0.01
2018Detailed filing. Detailed filing data is available for this year.$2.34$3.18$0.84$0.50$0.54$0.04
2017Detailed filing. Detailed filing data is available for this year.$2.40$3.21$0.81$0.49$0.51$0.02
2016Detailed filing. Detailed filing data is available for this year.$2.47$3.25$0.78$0.47$0.51$0.04
2015Detailed filing. Detailed filing data is available for this year.$2.56$3.30$0.74$0.47$0.48$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.25$1.98$0.73$0.47$0.46$0.01
2013Summary only. Only limited summary data is available for this year.$1.28$2.01$0.73$0.47$0.46$0.01
2012Summary only. Only limited summary data is available for this year.$1.45$2.18$0.74$0.50$0.45$0.05
2011Summary only. Only limited summary data is available for this year.$1.31$2.10$0.79$0.49$0.48$0.01