Civic Intelligence

Sj Housing Development Fund Company Inc

990 • Fiscal year 2020 • EIN 14-1711633

Oct 01, 2019 to Sep 30, 2020 • Filed on Jan 19, 2021

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

96th percentile

1.42x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

96th percentile

6.01x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

24th percentile

-8.3%

Higher net margin than 24% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

16th percentile

-4.4%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

48th percentile

-0.1%

Faster revenue growth than 48% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$2,169,152

Down $99,893 (-4.4%) from 2019

Net Assets

Down

-$900,773

Down $42,518 (-5.0%) from 2019

Liabilities

Down

$3,069,925

Down $57,375 (-1.8%) from 2019

Revenue

Down

$510,394

Down $509 (-0.1%) from 2019

Expenses

Up

$552,912

Up $27,136 (+5.2%) from 2019

Net Income

Down

-$42,518

Down $27,645 (-186%) from 2019

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

2020

Assets$2,169,152
Liabilities$3,069,925
Net Assets-$900,773

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

2020

Revenue$510,394
Expenses$552,912
Net Income-$42,518
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Jan 19, 2021
Return Version
2019v5.1
Gross Receipts
$510,394
Mission and Program Overview

Mission

Low-income housing for the elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,676,786$1,592,335▼ $84,451
Savings and Temporary Cash Investments$368,612$349,571▼ $19,041
Intangible Assets$145,573$140,774▼ $4,799
Cash and Non-Interest-Bearing Accounts$29,742$37,369▲ $7,627
Prepaid Expenses and Deferred Charges$25,149$26,567▲ $1,418
Accounts Receivable$83$603▲ $520
Total Assets$2,269,045$2,169,152▼ $99,893
Other Assets Total$23,100$21,933▼ $1,167
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,067,825$3,014,349▼ $53,476
Accounts Payable and Accrued Expenses$37,754$34,631▼ $3,123
Other Liabilities$21,721$20,942▼ $779
Deferred Revenue-$3-
Total Liabilities$3,127,300$3,069,925▼ $57,375
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-858,255$-900,773▼ $42,518
Total Net Assets Fund Balance$-858,255$-900,773▼ $42,518
Total Liabilities and Net Assets / Fund Balance$2,269,045$2,169,152▼ $99,893

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,557,534$2,502,914$4,060,448
Other Land Buildings$9,834$76,576$86,410
Equipment$0$59,948$59,948
Land$24,967-$24,967
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$301,145
Program Service Revenue
$205,237
Investment Income
$412
Other Revenue
$3,600
Change in Net Assets
$-42,518

Audited Revenue Reconciliation

Revenue per Audited Statements
$510,394
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$510,394
Total Revenue per Form 990
$510,394
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$479,232
Salaries, Compensation, and Employee Benefits$73,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$138,077--$138,077
Office Expenses$93,001$8,791-$101,792
Depreciation Depletion$100,853--$100,853
Occupancy$71,684--$71,684
Other Salaries and Wages$10,665$51,154-$61,819
Fees for Services Management-$30,593-$30,593
Insurance$16,210--$16,210
Fees for Services Accounting-$16,106-$16,106
Other Employee Benefits$8,058--$8,058
Payroll Taxes$3,803--$3,803
Fees for Services Legal-$3,000-$3,000
Advertising-$750-$750
Other Expenses-$167-$167
Total Functional Expenses$442,351$110,561$0$552,912

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$552,912
Total Expenses per Audited Statements$552,912
Total Expenses per Form 990$552,912
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 Security Deposits$20,942
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
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

Line 3 explanation - 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, Section B, Line 11B

Line 11b explanation - form 990 was presented, reviewed and approved by board of directors.

Form 990, Part VI, Section C, Line 19

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
Noel Olsen
Title
President
Phone
5184590183
Signed
2021-01-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Noel Olsen
Formed
1985
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Cna Tax Professionals Inc
Address
10475 CROSSPOINT BOULEVARD SUITE, 200, INDIANAPOLIS, IN 46256
Preparer
Shawn D Dreiman CPA
Phone
3178413393
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

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 Appendix386 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.

Path#Value
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IRS990/RevenueAmt0205237
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0368612
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0349571
IRS990ScheduleA/ChurchInd0X
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01557534
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02502914
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04060448
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt059948
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt059948
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0552912
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt024967
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt024967
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09834
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt076576
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt086410
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020942
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0510394
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, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01592335
IRS990ScheduleD/TotalExpensesPerForm990Amt0552912
IRS990ScheduleD/TotalLiabilityAmt020942
IRS990ScheduleD/TotalRevenuePerForm990Amt0510394
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0510394
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0552912
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 3 EXPLANATION - THE PROJECT ENTERED INTO A MANAGEMENT AGREEMENT WITH DEPAUL HOUSING MANAGEMENT COMPANY, WHEREBY IN RETURN FOR PROVIDING MANAGEMENT SERVICES TO THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LINE 11B EXPLANATION - FORM 990 WAS PRESENTED, REVIEWED AND APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST.
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 C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02269045
IRS990/TotalAssetsEOYAmt02169152
IRS990/TotalAssetsGrp/BOYAmt02269045
IRS990/TotalAssetsGrp/EOYAmt02169152
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0301145
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0110561
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0442351
IRS990/TotalFunctionalExpensesGrp/TotalAmt0552912
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03127300
IRS990/TotalLiabilitiesEOYAmt03069925
IRS990/TotalLiabilitiesGrp/BOYAmt03127300
IRS990/TotalLiabilitiesGrp/EOYAmt03069925
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-858255
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-900773
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0442351
IRS990/TotalProgramServiceRevenueAmt0205237
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt04012
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0205237
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0510394
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02269045
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02169152
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt041 NORTH MAIN AVENUE
IRS990/USAddress/CityNm0ALBANY
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012203
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.RCDA.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NOEL OLSEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05184590183
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-19
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/AddressLine1Txt010475 CROSSPOINT BOULEVARD SUITE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine2Txt0200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046256
ReturnHeader/PreparerPersonGrp/PhoneNum03178413393
ReturnHeader/PreparerPersonGrp/PreparationDt02021-01-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHAWN D DREIMAN CPA
ReturnHeader/ReturnTs02021-01-27T10:55:17-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-10-01
ReturnHeader/TaxPeriodEndDt02020-09-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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