Civic Intelligence

Avalon Second Nonprofit Housing Corporation

990 • Fiscal year 2015 • EIN 14-1977260

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 03, 2016

1327 Jones Drive Suite 102Ann Arbor, MI 48105

(734) 663-5858

Siviq Scores

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

Liabilities / Assets

94th percentile

1.13x

Higher debt load relative to assets than 94% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

98th percentile

15.98x

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

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

11th percentile

-23%

Higher net margin than 11% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

42nd percentile

-0.8%

Faster asset growth than 42% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

73rd percentile

15%

Faster revenue growth than 73% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Down

$6,219,278

Down $50,561 (-0.8%) from 2014

Net Assets

Down

-$837,275

Down $100,124 (-14%) from 2014

Liabilities

Up

$7,056,553

Up $49,563 (+0.7%) from 2014

Revenue

Up

$441,621

Up $57,746 (+15%) from 2014

Expenses

Up

$541,745

Up $23,491 (+4.5%) from 2014

Net Income

Up

-$100,124

Up $34,255 (+25%) from 2014

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2014: $6,269,839Liabilities 2014: $7,006,990Net Assets 2014: -$737,1512014Assets 2015: $6,219,278Liabilities 2015: $7,056,553Net Assets 2015: -$837,2752015Assets 2016: $5,968,309Liabilities 2016: $6,875,784Net Assets 2016: -$907,4752016Assets 2017: $6,389,349Liabilities 2017: $7,137,723Net Assets 2017: -$748,3742017Assets 2018: $6,316,403Liabilities 2018: $7,150,545Net Assets 2018: -$834,1422018Assets 2019: $6,217,357Liabilities 2019: $7,134,257Net Assets 2019: -$916,9002019Assets 2020: $6,193,047Liabilities 2020: $7,055,301Net Assets 2020: -$862,2542020Assets 2021: $6,255,378Liabilities 2021: $7,138,287Net Assets 2021: -$882,9092021Assets 2022: $6,243,766Liabilities 2022: $7,173,739Net Assets 2022: -$929,9732022Assets 2023: $6,352,375Liabilities 2023: $7,329,050Net Assets 2023: -$976,6752023Assets 2024: $6,185,465Liabilities 2024: $7,347,158Net Assets 2024: -$1,161,6932024

Highlighted filing

2015

Assets$6,219,278
Liabilities$7,056,553
Net Assets-$837,275

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2014: $383,875Expenses 2014: $518,254Net Income 2014: -$134,3792014Revenue 2015: $441,621Expenses 2015: $541,745Net Income 2015: -$100,1242015Revenue 2016: $447,521Expenses 2016: $517,721Net Income 2016: -$70,2002016Revenue 2017: $693,270Expenses 2017: $534,169Net Income 2017: $159,1012017Revenue 2018: $495,270Expenses 2018: $581,038Net Income 2018: -$85,7682018Revenue 2019: $520,261Expenses 2019: $603,019Net Income 2019: -$82,7582019Revenue 2020: $610,149Expenses 2020: $555,503Net Income 2020: $54,6462020Revenue 2021: $555,017Expenses 2021: $575,672Net Income 2021: -$20,6552021Revenue 2022: $619,355Expenses 2022: $666,419Net Income 2022: -$47,0642022Revenue 2023: $656,953Expenses 2023: $703,655Net Income 2023: -$46,7022023Revenue 2024: $667,043Expenses 2024: $852,061Net Income 2024: -$185,0182024

Highlighted filing

2015

Revenue$441,621
Expenses$541,745
Net Income-$100,124
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 3, 2016
Return Version
2015v2.1
Gross Receipts
$441,621
Mission and Program Overview

Mission

The mission of avalon second housing corporation is to develop, own, and/or manage permanent leased housing that is affordable to low-income people, including those with low wage employment or on fixed incomes. Avalon second nonprofit housing corporation is committed to the inclusion of persons with disabilities and special needs who are underserved in the housing market. In operating housing, avalon second nonprofit housing corporation will utilize an enhanced management approach which maximizes problem solving with tenants, minimizes eviction, and ensures financial viability, property maintenance and safety. Avalon second nonprofit housing corporation will seek to develop housing in a variety of locations within the cities of ann arbor and ypsilanti, and more widely in washtenaw county in response to identified needs.

The development, management, and ownership of affordable and supportive rental housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,514,035$5,417,795▼ $96,240
Savings and Temporary Cash Investments$226,231$241,591▲ $15,360
Prepaid Expenses and Deferred Charges$18,107$17,487▼ $620
Accounts Receivable$9,959$5,978▼ $3,981
Intangible Assets$2,404$2,185▼ $219
Total Assets$6,269,839$6,219,278▼ $50,561
Other Assets Total$499,103$534,242▲ $35,139
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,261,808$6,288,472▲ $26,664
Other Liabilities$742,104$754,649▲ $12,545
Accounts Payable and Accrued Expenses$3,078$13,432▲ $10,354
Total Liabilities$7,006,990$7,056,553▲ $49,563
Net Assets / Fund Balance
Unrestricted Net Assets$-737,151$-837,275▼ $100,124
Total Net Assets Fund Balance$-737,151$-837,275▼ $100,124
Total Liabilities and Net Assets / Fund Balance$6,269,839$6,219,278▼ $50,561

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,050,987$756,087$5,807,074
Land$358,950-$358,950
Other Land Buildings$7,858$5,658$13,516
Other Assets Org$529,299--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Rhea KishPresident
Gary BruderSecretary
Barbara KesslerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$106,922
Program Service Revenue
$297,787
Investment Income
$36,912
Other Revenue
$0
Change in Net Assets
$-100,124
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$396,478
Salaries, Compensation, and Employee Benefits$145,267
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$148,260--$148,260
Other Salaries and Wages$106,610--$106,610
Occupancy$70,883--$70,883
Fees for Services Other$51,113$20-$51,133
Interest$50,060--$50,060
Office Expenses$31,034--$31,034
Other Employee Benefits$28,726--$28,726
Insurance$22,733--$22,733
Fees for Services Accounting-$16,300-$16,300
Payroll Taxes$9,931--$9,931
Travel$3,375--$3,375
Other Expenses$2,112--$2,112
Fees for Services Legal$304--$304
Conferences and Meetings$284--$284
Total Functional Expenses$525,425$16,320$0$541,745
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Related Party Notes Payable$636,201
Development Fee Payable$95,359
Security Deposits Payable$21,143
Prepaid Rent$1,946
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

Finance committee, executive director, and cfo member review 990 and approve for forwarding to full board for review and approval.

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

Annual signed restatement of policy by board members. Board members with conflicts disclose and abstain from voting on issue.

Form 990, Part VI, Section C, Line 19

The organization governing documents, policies, and financial statements are available upon request at the finance department office and our website.

Filing and Contact Details

Filer

Filer Name
Avalon Second Nonprofit Housing
EIN
14-1977260
Phone
7346635858
Address
1327 JONES DRIVE SUITE 102, ANN ARBOR, MI 48105

Signing Officer

Name
Carole Mccabe
Title
Executive Director
Phone
7346635858
Signed
2016-08-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carole Mccabe
Formed
2001
Legal Domicile
Mi
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Kirschner Hutton Perlin Pc
Address
26913 NORTHWESTERN HWY SUITE 510, SOUTHFIELD, MI 48033-8444
Preparer
Kenneth R Perlin
Phone
2483563880
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from income tax under provisions of internal revenue code section 501(c)(3). Management has analyzed the tax positions of the organization and has concluded that as of december 31, 2015, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements. Management believes that it would not be subject to any income tax examinations for years prior to 2012.

Raw XML Appendix376 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/MissionDesc0THE MISSION OF AVALON SECOND HOUSING CORPORATION IS TO DEVELOP, OWN, AND/OR MANAGE PERMANENT LEASED HOUSING THAT IS AFFORDABLE TO LOW-INCOME PEOPLE, INCLUDING THOSE WITH LOW WAGE EMPLOYMENT OR ON FIXED INCOMES. AVALON SECOND NONPROFIT HOUSING CORPORATION IS COMMITTED TO THE INCLUSION OF PERSONS WITH DISABILITIES AND SPECIAL NEEDS WHO ARE UNDERSERVED IN THE HOUSING MARKET. IN OPERATING HOUSING, AVALON SECOND NONPROFIT HOUSING CORPORATION WILL UTILIZE AN ENHANCED MANAGEMENT APPROACH WHICH MAXIMIZES PROBLEM SOLVING WITH TENANTS, MINIMIZES EVICTION, AND ENSURES FINANCIAL VIABILITY, PROPERTY MAINTENANCE AND SAFETY. AVALON SECOND NONPROFIT HOUSING CORPORATION WILL SEEK TO DEVELOP HOUSING IN A VARIETY OF LOCATIONS WITHIN THE CITIES OF ANN ARBOR AND YPSILANTI, AND MORE WIDELY IN WASHTENAW COUNTY IN RESPONSE TO IDENTIFIED NEEDS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM INCOME TAX UNDER PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). MANAGEMENT HAS ANALYZED THE TAX POSITIONS OF THE ORGANIZATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2015, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT BELIEVES THAT IT WOULD NOT BE SUBJECT TO ANY INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2012.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05417795
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0534242
IRS990ScheduleD/TotalLiabilityAmt0754649
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FINANCE COMMITTEE, EXECUTIVE DIRECTOR, AND CFO MEMBER REVIEW 990 AND APPROVE FOR FORWARDING TO FULL BOARD FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUAL SIGNED RESTATEMENT OF POLICY BY BOARD MEMBERS. BOARD MEMBERS WITH CONFLICTS DISCLOSE AND ABSTAIN FROM VOTING ON ISSUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE FINANCE DEPARTMENT OFFICE AND OUR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0383086920
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0AFFORDABLE RENTAL HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 9
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01327 JONES DR SUITE 102
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ANN ARBOR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd048105
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990/TaxExemptBondsInd00
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IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt06219278
IRS990/TotalAssetsGrp/BOYAmt06269839
IRS990/TotalAssetsGrp/EOYAmt06219278
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0106922
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0525425
IRS990/TotalFunctionalExpensesGrp/TotalAmt0541745
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt07056553
IRS990/TotalLiabilitiesGrp/BOYAmt07006990
IRS990/TotalLiabilitiesGrp/EOYAmt07056553
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-737151
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-837275
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IRS990/TotalProgramServiceExpensesAmt0525425
IRS990/TotalProgramServiceRevenueAmt0297787
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt036912
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0297787
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0441621
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06269839
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06219278
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03375
IRS990/TravelGrp/TotalAmt03375
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-737151
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-837275
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01327 JONES DRIVE SUITE 102
IRS990/USAddress/CityNm0ANN ARBOR
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048105
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.AVALONHOUSING.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CAROLE MCCABE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07346635858
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AVALON SECOND NONPROFIT HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0AVAL
ReturnHeader/Filer/EIN0141977260
ReturnHeader/Filer/PhoneNum07346635858
ReturnHeader/Filer/USAddress/AddressLine1Txt01327 JONES DRIVE SUITE 102
ReturnHeader/Filer/USAddress/CityNm0ANN ARBOR
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048105
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382308034
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KIRSCHNER HUTTON PERLIN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt026913 NORTHWESTERN HWY SUITE 510
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SOUTHFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0480338444
ReturnHeader/PreparerPersonGrp/PhoneNum02483563880
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH R PERLIN
ReturnHeader/ReturnTs02016-08-15T00:00:00-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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