Civic Intelligence

West Town Village Housing Development Fund Company Inc

990 • Fiscal year 2019 • EIN 16-1575986

Jan 01, 2019 to Dec 31, 2019 • Filed on May 18, 2020

1150 Buffalo RoadRochester, NY 14624

(585) 328-3210

Siviq Scores

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

Liabilities / Assets

55th percentile

0.80x

Higher debt load relative to assets than 55% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

71st percentile

5.88x

Higher debt load relative to revenue than 71% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Net Margin

19th percentile

-37%

Higher net margin than 19% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

70th percentile

$134,128

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 35.3% of source-year revenue.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Asset Growth

17th percentile

-5.3%

Faster asset growth than 17% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

67th percentile

5.6%

Faster revenue growth than 67% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$2,797,717

Down $156,301 (-5.3%) from 2018

Net Assets

Down

$562,674

Down $155,139 (-22%) from 2018

Liabilities

Down

$2,235,043

Down $1,162 (-0.1%) from 2018

Revenue

Up

$380,135

Up $20,257 (+5.6%) from 2018

Expenses

Down

$520,646

Down $26,932 (-4.9%) from 2018

Net Income

Up

-$140,511

Up $47,189 (+25%) from 2018

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2016: $3,344,379Liabilities 2016: $2,255,798Net Assets 2016: $1,088,5812016Assets 2017: $3,164,618Liabilities 2017: $2,236,032Net Assets 2017: $928,5862017Assets 2018: $2,954,018Liabilities 2018: $2,236,205Net Assets 2018: $717,8132018Assets 2019: $2,797,717Liabilities 2019: $2,235,043Net Assets 2019: $562,6742019Assets 2020: $2,581,216Liabilities 2020: $2,229,504Net Assets 2020: $351,7122020Assets 2021: $2,435,220Liabilities 2021: $2,255,860Net Assets 2021: $179,3602021Assets 2022: $2,215,250Liabilities 2022: $2,237,264Net Assets 2022: -$22,0142022Assets 2023: $2,071,550Liabilities 2023: $2,254,729Net Assets 2023: -$183,1792023Assets 2024: $1,862,423Liabilities 2024: $2,220,871Net Assets 2024: -$358,4482024

Highlighted filing

2019

Assets$2,797,717
Liabilities$2,235,043
Net Assets$562,674

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2016: $180,050Expenses 2016: $297,184Net Income 2016: -$117,1342016Revenue 2017: $372,314Expenses 2017: $532,309Net Income 2017: -$159,9952017Revenue 2018: $359,878Expenses 2018: $547,578Net Income 2018: -$187,7002018Revenue 2019: $380,135Expenses 2019: $520,646Net Income 2019: -$140,5112019Revenue 2020: $382,076Expenses 2020: $567,138Net Income 2020: -$185,0622020Revenue 2021: $397,200Expenses 2021: $569,552Net Income 2021: -$172,3522021Revenue 2022: $395,963Expenses 2022: $597,337Net Income 2022: -$201,3742022Revenue 2023: $433,822Expenses 2023: $594,987Net Income 2023: -$161,1652023Revenue 2024: $445,416Expenses 2024: $620,685Net Income 2024: -$175,2692024

Highlighted filing

2019

Revenue$380,135
Expenses$520,646
Net Income-$140,511
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 18, 2020
Return Version
2019v5.1
Gross Receipts
$380,135
Mission and Program Overview

Mission

Operate a quality affordable housing to low income individuals and families.

Operate a housing project for low income individuals in the Town of Henrietta.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,488,429$2,305,674▼ $182,755
Savings and Temporary Cash Investments$357,342$375,557▲ $18,215
Cash and Non-Interest-Bearing Accounts$72,548$76,307▲ $3,759
Prepaid Expenses and Deferred Charges$5,217$6,433▲ $1,216
Accounts Receivable$2,145$4,138▲ $1,993
Total Assets$2,954,018$2,797,717▼ $156,301
Other Assets Total$28,337$29,608▲ $1,271
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,109,179$2,110,062▲ $883
Other Liabilities$65,357$66,191▲ $834
Escrow Account Liability$28,337$29,608▲ $1,271
Accounts Payable and Accrued Expenses$33,270$28,921▼ $4,349
Deferred Revenue$62$261▲ $199
Total Liabilities$2,236,205$2,235,043▼ $1,162
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$717,813$562,674▼ $155,139
Total Net Assets Fund Balance$717,813$562,674▼ $155,139
Total Liabilities and Net Assets / Fund Balance$2,954,018$2,797,717▼ $156,301

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,026,418$3,293,403$5,319,821
Land$275,926-$275,926
Equipment$3,330$131,093$134,423
Compensation and Service Providers

Employees

NameTitleOtherTotal
Dan SturgisTreasurer$134,128$134,128
Helen BianchiSecretary$127,675$127,675
Mark GreisbergerVice President$64,828$64,828

Board Members and Trustees

NameTitle
Jack BalinskyPresident
Lynette RobinsonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$377,043
Investment Income
$1,295
Other Revenue
$1,797
Change in Net Assets
$-140,511

Audited Revenue Reconciliation

Revenue per Audited Statements
$380,135
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$380,135
Total Revenue per Form 990
$380,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$520,646
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$182,754--$182,754
Occupancy$109,879--$109,879
Fees for Services Management-$76,476-$76,476
Fees for Services Other$75,655--$75,655
Interest$21,583--$21,583
Insurance$19,299--$19,299
Office Expenses$3,241$15,044-$18,285
Fees for Services Accounting-$11,385-$11,385
Travel$3,249--$3,249
Advertising$1,171--$1,171
Other Expenses$910--$910
Total Functional Expenses$417,741$102,905$0$520,646

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$520,646
Total Expenses per Audited Statements$520,646
Total Expenses per Form 990$520,646
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
Accrued Accounts Payable - Affiliates$66,191
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

The Organization is managed by Providence Housing Development Corporation, the supported organization.

Form 990, Part VI, Section A, line 6

Providence Housing Development Corporation is the sole member of the Organization.

Form 990, Part VI, Section A, line 7A

Providence Housing Development Corporation has the right to appoint members of the Organization's Board of Directors.

Form 990, Part VI, Section A, line 8B

There are no other committees besides the full board.

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

The draft 990 report was sent electronically to all board members. Responses were received and evaluated if there were questions prior to filing the report.

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

Employee compliance with the conflict of interest policy is reviewed annually with all employees of the parent organization at a general meeting. Each employee signs a form to reaffirm his/her understanding of the policy. Board members are asked to acknowledge their compliance annually with forms returned to the Secretary of the Board rather than management.

Form 990, Part VI, Section B, line 15

West Town Village Housing Development Fund Company, Inc. does not have any direct compensation expense since all employees are officially employed by the parent company, Providence Housing Development Corporation. The wages and benefits of all top management employees are determined by the board of the parent company, Providence Housing Development Corporation. The process includes independent review, comparability data, and deliberation by the board.

Form 990, Part VI, Section C, line 19

All documents will be made available for public inspection based on the requirements of applicable law.

Filing and Contact Details

Filer

Filer Name
West Town Village Housing Development
EIN
16-1575986
Phone
5853283210
Address
1150 Buffalo Road, Rochester, NY 14624

Signing Officer

Name
Mark Greisberger
Title
Vice President
Phone
5853283210
Signed
2020-05-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Greisberger
Formed
1999
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
2
Employees
0
Volunteers
5

Preparer

Firm
Heveron & Company CPAs PLLC
Address
260 Plymouth Avenue South, Rochester, NY 14608
Preparer
Stephanie Annunziata
Phone
5852322956
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Contracted Program Management: Program service expenses 75,655. Management and general expenses 0. Fundraising expenses 0. Total expenses 75,655.

Form 990, Part XI, line 9:

Transfer to Affiliate -14,628.

Financial Statement Notes

Part IV, Line 2B:

The escrow represents security deposits held for the Organization's tenants.

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IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02026418
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03293403
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05319821
IRS990ScheduleD/EquipmentGrp/BookValueAmt03330
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0131093
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0134423
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0520646
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0275926
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0275926
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt066191
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Accounts Payable - Affiliates
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0380135
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The escrow represents security deposits held for the Organization's tenants.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02305674
IRS990ScheduleD/TotalExpensesPerForm990Amt0520646
IRS990ScheduleD/TotalLiabilityAmt066191
IRS990ScheduleD/TotalRevenuePerForm990Amt0380135
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0380135
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0520646
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization is managed by Providence Housing Development Corporation, the supported organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Providence Housing Development Corporation is the sole member of the Organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Providence Housing Development Corporation has the right to appoint members of the Organization's Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3There are no other committees besides the full board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The draft 990 report was sent electronically to all board members. Responses were received and evaluated if there were questions prior to filing the report.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Employee compliance with the conflict of interest policy is reviewed annually with all employees of the parent organization at a general meeting. Each employee signs a form to reaffirm his/her understanding of the policy. Board members are asked to acknowledge their compliance annually with forms returned to the Secretary of the Board rather than management.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6West Town Village Housing Development Fund Company, Inc. does not have any direct compensation expense since all employees are officially employed by the parent company, Providence Housing Development Corporation. The wages and benefits of all top management employees are determined by the board of the parent company, Providence Housing Development Corporation. The process includes independent review, comparability data, and deliberation by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7All documents will be made available for public inspection based on the requirements of applicable law.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Contracted Program Management: Program service expenses 75,655. Management and general expenses 0. Fundraising expenses 0. Total expenses 75,655.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Transfer to Affiliate -14,628.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part XI, line 9:
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd110
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd130
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd150
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd160
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd170
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd180
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd230
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt1Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt2Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt3Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt4Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt5Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt6Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt7Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt8Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt9Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt10Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt11Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt12Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt13Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt14Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt15Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt16Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt17Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt18Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt19Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt20Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt21Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt22Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt23Providence Housing Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0464643857
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN21831058605
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