Civic Intelligence

Ludden Housing Development Fund Company Inc

990 • Fiscal year 2018 • EIN 16-1401398

Apr 01, 2017 to Mar 31, 2018 • Filed on Jun 22, 2018

Organization ProfileWWW.CHRISTOPHER-COMMUNITY.ORG
817 Fay RoadSyracuse, NY 13219

(315) 424-1821

Siviq Scores

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

Liabilities / Assets

85th percentile

1.48x

Higher debt load relative to assets than 85% of similar nonprofits.

2018 filings • NTEE L • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

70th percentile

5.63x

Higher debt load relative to revenue than 70% of similar nonprofits.

2018 filings • NTEE L • $1M-$5M nonprofits • Source year 2018

Net Margin

85th percentile

23%

Higher net margin than 85% of similar nonprofits.

2018 filings • NTEE L • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2018 filings • NTEE L • $1M-$5M nonprofits • Source year 2018

Asset Growth

97th percentile

78%

Faster asset growth than 97% of similar nonprofits.

2018 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

1.2%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$1,778,785

Up $777,860 (+78%) from 2017

Net Assets

Up

-$856,694

Up $106,176 (+11%) from 2017

Liabilities

Up

$2,635,479

Up $671,684 (+34%) from 2017

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin85th percentile

Revenue

Up

$467,875

Up $5,431 (+1.2%) from 2017

Expenses

Down

$361,699

Down $93,906 (-21%) from 2017

Net Income

Up

$106,176

Up $99,337 (+1453%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $849,456Liabilities 2011: $1,829,159Net Assets 2011: -$979,7032011Assets 2012: $776,911Liabilities 2012: $1,787,117Net Assets 2012: -$1,010,2062012Assets 2013: $1,211,821Liabilities 2013: $2,229,368Net Assets 2013: -$1,017,5472013Assets 2014: $1,160,520Liabilities 2014: $2,175,665Net Assets 2014: -$1,015,1452014Assets 2015: $1,145,616Liabilities 2015: $2,140,226Net Assets 2015: -$994,6102015Assets 2016: $1,132,089Liabilities 2016: $2,101,798Net Assets 2016: -$969,7092016Assets 2017: $1,000,925Liabilities 2017: $1,963,795Net Assets 2017: -$962,8702017Assets 2018: $1,778,785Liabilities 2018: $2,635,479Net Assets 2018: -$856,6942018Assets 2019: $3,311,805Liabilities 2019: $4,119,325Net Assets 2019: -$807,5202019Assets 2020: $2,167,022Liabilities 2020: $2,961,047Net Assets 2020: -$794,0252020Assets 2021: $2,158,325Liabilities 2021: $2,923,327Net Assets 2021: -$765,0022021Assets 2022: $2,163,807Liabilities 2022: $2,889,984Net Assets 2022: -$726,1772022Assets 2023: $2,150,187Liabilities 2023: $2,854,181Net Assets 2023: -$703,9942023Assets 2024: $2,150,853Liabilities 2024: $2,798,239Net Assets 2024: -$647,3862024

Highlighted filing

2018

Assets$1,778,785
Liabilities$2,635,479
Net Assets-$856,694
Open 2018 Filing

Operations Trend

Revenue Growth48th percentile

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

$600K$400K$200K$0Expenses 2011: $487,5102011Expenses 2012: $474,5872012Expenses 2013: $452,9392013Revenue 2014: $447,601Expenses 2014: $445,199Net Income 2014: $2,4022014Revenue 2015: $453,406Expenses 2015: $432,871Net Income 2015: $20,5352015Revenue 2016: $459,273Expenses 2016: $434,372Net Income 2016: $24,9012016Revenue 2017: $462,444Expenses 2017: $455,605Net Income 2017: $6,8392017Revenue 2018: $467,875Expenses 2018: $361,699Net Income 2018: $106,1762018Revenue 2019: $461,458Expenses 2019: $412,284Net Income 2019: $49,1742019Revenue 2020: $473,288Expenses 2020: $459,793Net Income 2020: $13,4952020Revenue 2021: $489,623Expenses 2021: $460,600Net Income 2021: $29,0232021Revenue 2022: $510,764Expenses 2022: $471,939Net Income 2022: $38,8252022Revenue 2023: $514,336Expenses 2023: $492,153Net Income 2023: $22,1832023Revenue 2024: $540,923Expenses 2024: $484,315Net Income 2024: $56,6082024

Highlighted filing

2018

Revenue$467,875
Expenses$361,699
Net Income$106,176
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2017 to Mar 31, 2018
Signed
Jun 22, 2018
Return Version
2017v2.2
Gross Receipts
$467,875
Mission and Program Overview

Mission

The organization was organized solely and specifically to develop, own, and operate a low-income housing project on a non-profit basis pursuant to article xi of the private housing finance law of the state of new york.

Low-income housing project

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$365,881$721,598▲ $355,717
Accounts Receivable$4,477$358,673▲ $354,196
Prepaid Expenses and Deferred Charges$24,660$24,253▼ $407
Cash and Non-Interest-Bearing Accounts$14,339$10,511▼ $3,828
Total Assets$1,000,925$1,778,785▲ $777,860
Other Assets Total$591,568$663,750▲ $72,182
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,930,012$2,252,389▲ $322,377
Accounts Payable and Accrued Expenses$18,235$367,020▲ $348,785
Other Liabilities$15,548$16,070▲ $522
Total Liabilities$1,963,795$2,635,479▲ $671,684
Net Assets / Fund Balance
Unrestricted Net Assets$-962,870$-856,694▲ $106,176
Total Net Assets Fund Balance$-962,870$-856,694▲ $106,176
Total Liabilities and Net Assets / Fund Balance$1,000,925$1,778,785▲ $777,860

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$345,077$2,082,075$2,427,152
Other Land Buildings$363,969$72,297$436,266
Equipment$12,552$9,090$21,642
Other Assets Org$342,762--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Beatrice MalfitanoPresident
Elizabeth MathersMember
Henry CentoreMember
Robert HawleyMember
Linda DelaneySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$463,295
Investment Income
$1,764
Other Revenue
$2,816
Change in Net Assets
$106,176

Audited Revenue Reconciliation

Revenue per Audited Statements
$467,875
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$467,875
Total Revenue per Form 990
$467,875
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$247,933
Salaries, Compensation, and Employee Benefits$113,766
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,183$90,810-$94,993
Interest$73,021--$73,021
Fees for Services Management-$31,537-$31,537
Depreciation Depletion$29,400--$29,400
Insurance$27,354--$27,354
Office Expenses$4,404$16,648-$21,052
Occupancy$13,884--$13,884
Fees for Services Accounting-$12,969-$12,969
Other Employee Benefits$10,847--$10,847
Payroll Taxes$7,926--$7,926
Other Expenses$3,272--$3,272
All Other Expenses$2,407--$2,407
Advertising-$1,338-$1,338
Conferences and Meetings-$607-$607
Total Functional Expenses$207,790$153,909$0$361,699

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$361,699
Total Expenses per Audited Statements$361,699
Total Expenses per Form 990$361,699
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$16,070
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization delegated control over management duties to christopher community under the direct supervision of the board of directors. This includes bookkeeping, property management and personnel related functions.”

Form 990, Part VI, Section B, Line 11B

“The vp of finance for the managing agent receives the 990 from the auditor and reviews the form. The 990 is reviewed by the cpa as a part of the annual audit meeting prior to filing with the irs.”

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

“The managing agent reviews the conflict of interest statements signed by board members annually for each property. If a conflict arises the managing agent monitors the transaction to ensure it is conducted at arms-length. He managing agent discourages this type of relationship and recommends an alternative situation if at all possible.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Ludden Housing Development Fund
EIN
16-1401398
Phone
3154241821
Address
817 FAY ROAD, SYRACUSE, NY 13219

Signing Officer

Name
Beatrice Malfitano
Title
President
Phone
3154241821
Signed
2018-06-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Beatrice Malfitano
Formed
1988
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
5
Volunteers
0

Preparer

Firm
Dermody Burke & Brown Cpas LLC
Address
443 N FRANKLIN ST STE 100, SYRACUSE, NY 13204-1441
Preparer
David J De Silva
Phone
3154719171
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Income taxes the corporation has been determined to be exempt from federal income taxation under section 501(c)(3) of the internal revenue code and have been classified as an organization that is not a private foundation under section 509(a). Management is unaware of any unrelated business activities that may be subject to unrelated business income tax or any activities that would jeopardize the corporation's exempt status.”

Raw XML AppendixShowing 400 of 421 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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IRS990ScheduleA/InvestmentIncomePYPct00.00240
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IRS990ScheduleA/PublicSupportPY509Pct00.98800
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0442313
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0453406
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0447601
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02290599
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0345077
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02082075
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02427152
IRS990ScheduleD/EquipmentGrp/BookValueAmt012552
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09090
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt021642
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt15561
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt250182
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3249175
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4342762
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DEPOSITS - OTHER
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0363969
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt072297
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016070
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAXES THE CORPORATION HAS BEEN DETERMINED TO BE EXEMPT FROM FEDERAL INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAVE BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A). MANAGEMENT IS UNAWARE OF ANY UNRELATED BUSINESS ACTIVITIES THAT MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX OR ANY ACTIVITIES THAT WOULD JEOPARDIZE THE CORPORATION'S EXEMPT STATUS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0663750
IRS990ScheduleD/TotalExpensesPerForm990Amt0361699
IRS990ScheduleD/TotalLiabilityAmt016070
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0467875
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT DUTIES TO CHRISTOPHER COMMUNITY UNDER THE DIRECT SUPERVISION OF THE BOARD OF DIRECTORS. THIS INCLUDES BOOKKEEPING, PROPERTY MANAGEMENT AND PERSONNEL RELATED FUNCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE VP OF FINANCE FOR THE MANAGING AGENT RECEIVES THE 990 FROM THE AUDITOR AND REVIEWS THE FORM. THE 990 IS REVIEWED BY THE CPA AS A PART OF THE ANNUAL AUDIT MEETING PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MANAGING AGENT REVIEWS THE CONFLICT OF INTEREST STATEMENTS SIGNED BY BOARD MEMBERS ANNUALLY FOR EACH PROPERTY. IF A CONFLICT ARISES THE MANAGING AGENT MONITORS THE TRANSACTION TO ENSURE IT IS CONDUCTED AT ARMS-LENGTH. HE MANAGING AGENT DISCOURAGES THIS TYPE OF RELATIONSHIP AND RECOMMENDS AN ALTERNATIVE SITUATION IF AT ALL POSSIBLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON 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 B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt01000925
IRS990/TotalAssetsGrp/EOYAmt01778785
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt05
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0207790
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0466111
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0SYRACUSE
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd013219
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.CHRISTOPHER-COMMUNITY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BEATRICE MALFITANO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03154241821
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-06-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LUDDEN HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0LUDD
ReturnHeader/Filer/EIN0161401398
ReturnHeader/Filer/PhoneNum03154241821
ReturnHeader/Filer/USAddress/AddressLine1Txt0817 FAY ROAD
ReturnHeader/Filer/USAddress/CityNm0SYRACUSE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,778,785
Liabilities
$2,635,479
Net assets
-$856,694
Revenue
$467,875
Expenses
$361,699
Net income
$106,176
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.15$2.80$0.65$0.54$0.48$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.15$2.85$0.70$0.51$0.49$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.16$2.89$0.73$0.51$0.47$0.04
2021Detailed filing. Detailed filing data is available for this year.$2.16$2.92$0.77$0.49$0.46$0.03
2020Detailed filing. Detailed filing data is available for this year.$2.17$2.96$0.79$0.47$0.46$0.01
2019Detailed filing. Detailed filing data is available for this year.$3.31$4.12$0.81$0.46$0.41$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.78$2.64$0.86$0.47$0.36$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.00$1.96$0.96$0.46$0.46$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.13$2.10$0.97$0.46$0.43$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.15$2.14$0.99$0.45$0.43$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.16$2.18$1.02$0.45$0.45$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$2.23$1.02$0.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$1.79$1.01$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.85$1.83$0.98$0.49