Civic Intelligence

Norfolk Housing Development Fund Company Inc.

990 • Fiscal year 2017 • EIN 16-1340937

Jan 01, 2017 to Dec 31, 2017 • Filed on May 11, 2018

Organization ProfileN/A
1 High StreetNorfolk, NY 13667

(315) 384-3005

Siviq Scores

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

Liabilities / Assets

87th percentile

1.62x

Higher debt load relative to assets than 87% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

67th percentile

4.13x

Higher debt load relative to revenue than 67% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Source year 2017

Net Margin

44th percentile

-7.0%

Higher net margin than 44% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

57th percentile

$31,680

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 14.2% of source-year revenue.

2017 filings • NTEE L • $500k-$1M nonprofits • Source year 2017

Asset Growth

30th percentile

-4.3%

Faster asset growth than 30% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

40th percentile

0.1%

Faster revenue growth than 40% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$566,918

Down $25,672 (-4.3%) from 2016

Net Assets

Down

-$353,364

Down $15,687 (-4.6%) from 2016

Liabilities

Down

$920,282

Down $9,985 (-1.1%) from 2016

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin44th percentile

Revenue

Up

$223,061

Up $297 (+0.1%) from 2016

Expenses

Down

$238,748

Down $726 (-0.3%) from 2016

Net Income

Up

-$15,687

Up $1,023 (+6.1%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$1.0M$500K$0-$500KAssets 2010: $742,481Liabilities 2010: $981,802Net Assets 2010: -$239,3212010Assets 2011: $715,511Liabilities 2011: $975,900Net Assets 2011: -$260,3892011Assets 2012: $690,421Liabilities 2012: $966,908Net Assets 2012: -$276,4872012Assets 2013: $667,698Liabilities 2013: $959,547Net Assets 2013: -$291,8492013Assets 2014: $641,049Liabilities 2014: $951,905Net Assets 2014: -$310,8562014Assets 2015: $621,056Liabilities 2015: $942,023Net Assets 2015: -$320,9672015Assets 2016: $592,590Liabilities 2016: $930,267Net Assets 2016: -$337,6772016Assets 2017: $566,918Liabilities 2017: $920,282Net Assets 2017: -$353,3642017Assets 2018: $533,037Liabilities 2018: $905,829Net Assets 2018: -$372,7922018Assets 2019: $510,612Liabilities 2019: $896,026Net Assets 2019: -$385,4142019Assets 2020: $491,305Liabilities 2020: $880,041Net Assets 2020: -$388,7362020Assets 2021: $458,709Liabilities 2021: $863,866Net Assets 2021: -$405,1572021Assets 2022: $444,757Liabilities 2022: $862,381Net Assets 2022: -$417,6242022Assets 2023: $445,225Liabilities 2023: $826,921Net Assets 2023: -$381,6962023Assets 2024: $437,272Liabilities 2024: $807,160Net Assets 2024: -$369,8882024Assets 2025: $417,384Liabilities 2025: $785,944Net Assets 2025: -$368,5602025

Highlighted filing

2017

Assets$566,918
Liabilities$920,282
Net Assets-$353,364
Open 2017 Filing

Operations Trend

Revenue Growth40th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $213,9172010Expenses 2011: $227,6712011Expenses 2012: $221,6762012Revenue 2013: $210,676Expenses 2013: $226,038Net Income 2013: -$15,3622013Revenue 2014: $210,667Expenses 2014: $229,674Net Income 2014: -$19,0072014Revenue 2015: $223,139Expenses 2015: $233,250Net Income 2015: -$10,1112015Revenue 2016: $222,764Expenses 2016: $239,474Net Income 2016: -$16,7102016Revenue 2017: $223,061Expenses 2017: $238,748Net Income 2017: -$15,6872017Revenue 2018: $1,122,767Expenses 2018: $1,142,195Net Income 2018: -$19,4282018Revenue 2019: $163,534Expenses 2019: $176,158Net Income 2019: -$12,6242019Revenue 2020: $173,939Expenses 2020: $177,261Net Income 2020: -$3,3222020Revenue 2021: $169,622Expenses 2021: $186,043Net Income 2021: -$16,4212021Revenue 2022: $177,266Expenses 2022: $189,733Net Income 2022: -$12,4672022Revenue 2023: $215,841Expenses 2023: $179,913Net Income 2023: $35,9282023Revenue 2024: $201,877Expenses 2024: $190,069Net Income 2024: $11,8082024Revenue 2025: $187,608Expenses 2025: $186,280Net Income 2025: $1,3282025

Highlighted filing

2017

Revenue$223,061
Expenses$238,748
Net Income-$15,687
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 11, 2018
Return Version
2017v2.2
Gross Receipts
$223,061
Mission and Program Overview

Mission

This company has been organized exclusively, as its sole purpose, to develop, on a not-for-profit basis, a 24-unit housing project for persons of low income where no adequate housing exists for such persons.

This company has been organized exclusively, as its sole purpose, to develop, on a not-for-profit basis, a housing project for persons of low income where no adequate housing exists for such persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$490,596$460,490▼ $30,106
Savings and Temporary Cash Investments$92,413$98,738▲ $6,325
Prepaid Expenses and Deferred Charges$9,581$7,690▼ $1,891
Total Assets$592,590$566,918▼ $25,672
Liabilities
Mortgage Notes Payable Secured by Investment Property$924,174$912,545▼ $11,629
Other Liabilities$6,093$5,477▼ $616
Accounts Payable and Accrued Expenses-$2,260-
Total Liabilities$930,267$920,282▼ $9,985
Net Assets / Fund Balance
Unrestricted Net Assets$-337,677$-353,364▼ $15,687
Total Net Assets Fund Balance$-337,677$-353,364▼ $15,687
Total Liabilities and Net Assets / Fund Balance$592,590$566,918▼ $25,672

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$450,946$767,205$23,282
Equipment$9,544$103,418$8,388
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bonnie DaveyDirectorPT$31,680$31,680

Board Members and Trustees

NameTitle
Carl CaskinettePresident
Donna PetersonVice President
Mary Jane ByrneSecretary
Eva EnocheTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$161,565
Investment Income
$94
Other Revenue
$61,402
Change in Net Assets
$-15,687
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$180,817
Salaries, Compensation, and Employee Benefits$57,931
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$37,997--$37,997
Current Officers, Directors, Trustees, and Key Employees-$31,680-$31,680
Other Expenses$27,255--$27,255
Interest$14,906--$14,906
Other Salaries and Wages$14,820--$14,820
Other Employee Benefits-$7,591-$7,591
Fees for Services Accounting-$6,555-$6,555
Payroll Taxes$1,275$2,565-$3,840
All Other Expenses$2,045--$2,045
Office Expenses$728--$728
Advertising-$35-$35
Total Functional Expenses$190,322$48,426$0$238,748
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
Customer Deposits$5,477
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“A director is related to the manager”

Committee meeting documentation Part VI line 8B

“The organization is small enough that one governing board can handle all actions needed to be taken.”

Form 990 governing body review Part VI line 11

“A draft copy of the 990 was given to the administrator and the board president for their review prior to submission of the return.”

Governing documents etc available to public Part VI line 19

“The form 990 is on display on the new york state charities website. The information is also available upon request at the managements office. This information is available through the new york state charities website or upon request at the housing management office.”

Filing and Contact Details

Filer

Filer Name
Norfolk Housing Development Fund Co Inc
EIN
16-1340937
Address
1 HIGH STREET, NORFOLK, NY 13667

Signing Officer

Name
Bonnie Davey
Title
Director
Phone
3153843005
Signed
2018-05-11
Discuss with paid preparer
Yes

Organization Details

Formed
1988
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Larry Reece CPA PC
Address
20 Elm St PO Box 5033, Potsdam, NY 13676
Preparer
Larry Reece CPA
Phone
3152654046
Supplemental Narrative

Additional Explanations

Audited by an independent accountant Part XII line 2B

“The board of directors oversees the audit of financial statements.”

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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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt081694
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt084029
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0429485
IRS990ScheduleA/TotalSupportAmt0441122
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0450946
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0767205
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt01194869
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt023282
IRS990ScheduleD/EquipmentGrp/BookValueAmt09544
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0103418
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0104574
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08388
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05477
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0460490
IRS990ScheduleD/TotalLiabilityAmt05477
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DIRECTOR IS RELATED TO THE MANAGER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS SMALL ENOUGH THAT ONE GOVERNING BOARD CAN HANDLE ALL ACTIONS NEEDED TO BE TAKEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT COPY OF THE 990 WAS GIVEN TO THE ADMINISTRATOR AND THE BOARD PRESIDENT FOR THEIR REVIEW PRIOR TO SUBMISSION OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS ON DISPLAY ON THE NEW YORK STATE CHARITIES WEBSITE. THE INFORMATION IS ALSO AVAILABLE UPON REQUEST AT THE MANAGEMENTS OFFICE. THIS INFORMATION IS AVAILABLE THROUGH THE NEW YORK STATE CHARITIES WEBSITE OR UPON REQUEST AT THE HOUSING MANAGEMENT OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS OVERSEES THE AUDIT OF FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Audited by an independent accountant Part XII line 2b
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0592590
IRS990/TotalAssetsEOYAmt0566918
IRS990/TotalAssetsGrp/BOYAmt0592590
IRS990/TotalAssetsGrp/EOYAmt0566918
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt048426
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0190322
IRS990/TotalFunctionalExpensesGrp/TotalAmt0238748
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0930267
IRS990/TotalLiabilitiesEOYAmt0920282
IRS990/TotalLiabilitiesGrp/BOYAmt0930267
IRS990/TotalLiabilitiesGrp/EOYAmt0920282
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-337677
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-353364
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0190322
IRS990/TotalProgramServiceRevenueAmt0161565
IRS990/TotalReportableCompFromOrgAmt031680
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0223061
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0223061
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0592590
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0566918
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-337677
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-353364
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BONNIE DAVEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03153843005
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NORFOLK HOUSING DEVELOPMENT FUND CO INC
ReturnHeader/Filer/BusinessNameControlTxt0NORF
ReturnHeader/Filer/EIN0161340937
ReturnHeader/Filer/USAddress/AddressLine1Txt01 HIGH STREET
ReturnHeader/Filer/USAddress/CityNm0NORFOLK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd013667
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08B6C0AD9E24BCFEC82F2CBB02D744273828A4C4E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08B6C0AD9E24BCFEC82F2CBB02D744273828A4C4E
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId014203520181313rmrulm
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02018-05-11
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0209.23.99.156
ReturnHeader/FilingSecurityInformation/IPDt02018-05-11
ReturnHeader/FilingSecurityInformation/IPTm016:58:54
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0454889829
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Larry Reece CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt020 Elm St PO Box 5033
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Potsdam
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd013676
ReturnHeader/PreparerPersonGrp/PhoneNum03152654046
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LARRY REECE CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-05-11T16:54:27-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$566,918
Liabilities
$920,282
Net assets
-$353,364
Revenue
$223,061
Expenses
$238,748
Net income
-$15,687
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.42$0.79$0.37$0.19$0.19$0.00
2024Detailed filing. Detailed filing data is available for this year.$0.44$0.81$0.37$0.20$0.19$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.45$0.83$0.38$0.22$0.18$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.44$0.86$0.42$0.18$0.19$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.46$0.86$0.41$0.17$0.19$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.49$0.88$0.39$0.17$0.18$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.51$0.90$0.39$0.16$0.18$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.53$0.91$0.37$1.12$1.14$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.57$0.92$0.35$0.22$0.24$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.59$0.93$0.34$0.22$0.24$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.62$0.94$0.32$0.22$0.23$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.64$0.95$0.31$0.21$0.23$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.67$0.96$0.29$0.21$0.23$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$0.97$0.28$0.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.98$0.26$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.74$0.98$0.24$0.21