Civic Intelligence

Loretto Obrien Road Housing Development Fund Company Inc.

990 • Fiscal year 2020 • EIN 16-1594409

Apr 01, 2019 to Mar 31, 2020 • Filed on Jul 10, 2020

990 James StreetSyracuse, NY 13203

(315) 424-1821

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2020 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

7th percentile

0.06x

Higher debt load relative to revenue than 7% of similar nonprofits.

2020 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2020

Net Margin

28th percentile

-41%

Higher net margin than 28% of similar nonprofits.

2020 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2020

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.

2020 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2020

Asset Growth

35th percentile

-3.0%

Faster asset growth than 35% of similar nonprofits.

2020 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

62nd percentile

4.3%

Faster revenue growth than 62% of similar nonprofits.

2020 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$3,115,230

Down $97,892 (-3.0%) from 2019

Net Assets

Down

$3,102,056

Down $95,549 (-3.0%) from 2019

Liabilities

Down

$13,174

Down $2,343 (-15%) from 2019

Revenue

Up

$231,661

Up $9,616 (+4.3%) from 2019

Expenses

Down

$327,210

Down $7,416 (-2.2%) from 2019

Net Income

Up

-$95,549

Up $17,032 (+15%) from 2019

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$0Assets 2014: $3,777,066Liabilities 2014: $25,355Net Assets 2014: $3,751,7112014Assets 2015: $3,661,207Liabilities 2015: $15,726Net Assets 2015: $3,645,4812015Assets 2016: $3,529,621Liabilities 2016: $20,800Net Assets 2016: $3,508,8212016Assets 2017: $3,420,715Liabilities 2017: $15,219Net Assets 2017: $3,405,4962017Assets 2018: $3,332,106Liabilities 2018: $21,920Net Assets 2018: $3,310,1862018Assets 2019: $3,213,122Liabilities 2019: $15,517Net Assets 2019: $3,197,6052019Assets 2020: $3,115,230Liabilities 2020: $13,174Net Assets 2020: $3,102,0562020Assets 2021: $3,033,522Liabilities 2021: $22,966Net Assets 2021: $3,010,5562021Assets 2022: $2,928,970Liabilities 2022: $30,183Net Assets 2022: $2,898,7872022Assets 2023: $2,810,750Liabilities 2023: $41,105Net Assets 2023: $2,769,6452023Assets 2024: $2,726,340Liabilities 2024: $75,298Net Assets 2024: $2,651,0422024Assets 2025: $2,597,743Liabilities 2025: $46,646Net Assets 2025: $2,551,0972025

Highlighted filing

2020

Assets$3,115,230
Liabilities$13,174
Net Assets$3,102,056

Operations Trend

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

$400K$200K$0-$200KRevenue 2014: $224,886Expenses 2014: $335,283Net Income 2014: -$110,3972014Revenue 2015: $214,918Expenses 2015: $321,148Net Income 2015: -$106,2302015Revenue 2016: $199,448Expenses 2016: $336,108Net Income 2016: -$136,6602016Revenue 2017: $218,827Expenses 2017: $322,152Net Income 2017: -$103,3252017Revenue 2018: $225,461Expenses 2018: $320,771Net Income 2018: -$95,3102018Revenue 2019: $222,045Expenses 2019: $334,626Net Income 2019: -$112,5812019Revenue 2020: $231,661Expenses 2020: $327,210Net Income 2020: -$95,5492020Revenue 2021: $236,111Expenses 2021: $327,611Net Income 2021: -$91,5002021Revenue 2022: $238,400Expenses 2022: $350,169Net Income 2022: -$111,7692022Revenue 2023: $242,381Expenses 2023: $371,523Net Income 2023: -$129,1422023Revenue 2024: $270,804Expenses 2024: $389,407Net Income 2024: -$118,6032024Revenue 2025: $291,519Expenses 2025: $391,464Net Income 2025: -$99,9452025

Highlighted filing

2020

Revenue$231,661
Expenses$327,210
Net Income-$95,549
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Jul 10, 2020
Return Version
2019v5.1
Gross Receipts
$231,661
Mission and Program Overview

Mission

The corporation was organized solely and specifically to develop, own, and operate a low income housing project on a nonprofit basis pursuant to section 202 of the national housing act.

Low-income housing project

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,081,794$2,982,365▼ $99,429
Prepaid Expenses and Deferred Charges$19,639$20,006▲ $367
Cash and Non-Interest-Bearing Accounts$3,204$2,550▼ $654
Accounts Receivable$910$1,273▲ $363
Total Assets$3,213,122$3,115,230▼ $97,892
Other Assets Total$107,575$109,036▲ $1,461
Liabilities
Other Liabilities$13,003$10,746▼ $2,257
Accounts Payable and Accrued Expenses$2,514$2,428▼ $86
Total Liabilities$15,517$13,174▼ $2,343
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,061,293$3,785,187▼ $276,106
Net Assets Without Donor Restrictions$-863,688$-683,131▲ $180,557
Total Net Assets Fund Balance$3,197,605$3,102,056▼ $95,549
Total Liabilities and Net Assets / Fund Balance$3,213,122$3,115,230▼ $97,892

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,792,669$1,058,487$3,851,156
Other Land Buildings$90,216$183,306$273,522
Land$99,480-$99,480
Equipment$0$83,469$83,469
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kimberly TownsendChairperson
John MurrayBoard Member
Sister Linda Ann PalmisanoBoard Member
Sr Jane BourneBoard Member
John BrennanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$228,263
Investment Income
$10
Other Revenue
$3,388
Change in Net Assets
$-95,549

Audited Revenue Reconciliation

Revenue per Audited Statements
$231,661
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$231,661
Total Revenue per Form 990
$231,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$283,833
Salaries, Compensation, and Employee Benefits$43,377
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$112,839--$112,839
Other Salaries and Wages$34,673--$34,673
Office Expenses$8,047$13,331-$21,378
Fees for Services Management-$21,042-$21,042
Insurance$15,137--$15,137
Occupancy$13,770--$13,770
Fees for Services Accounting-$12,057-$12,057
All Other Expenses$2,568$4,039-$6,607
Other Employee Benefits$5,238--$5,238
Other Expenses$4,954--$4,954
Payroll Taxes$3,466--$3,466
Advertising-$305-$305
Conferences and Meetings-$240-$240
Total Functional Expenses$276,196$51,014$0$327,210

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$327,210
Total Expenses per Audited Statements$327,210
Total Expenses per Form 990$327,210
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$10,746
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 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
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

Vp of finance for the managing agent receives the 990 from the auditor and reviews the form. The 990 is reviewed by the cpa with the board of directors as 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. The 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, conflicts of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Loretto Obrien Road Housing
EIN
16-1594409
Phone
3154241821
Address
990 JAMES STREET, SYRACUSE, NY 13203

Signing Officer

Name
Kimberly Townsend
Title
Chairperson
Phone
3154241821
Signed
2020-07-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kimberly Townsend
Formed
2006
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
1
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 419 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/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0197041
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01084993
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt010
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt010
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt010
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt011
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt012
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt053
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt03388
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt02248
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt02250
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt02115
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt02395
IRS990ScheduleA/OtherIncome509Grp/TotalAmt012396
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98870
IRS990ScheduleA/PublicSupportPY509Pct00.99000
IRS990ScheduleA/PublicSupportTotal509Amt01084993
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0228263
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0219787
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0223201
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0216701
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0197041
IRS990ScheduleA/Total509Grp/TotalAmt01084993
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0231661
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0222045
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0225461
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0218827
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0199448
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01097442
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02792669
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01058487
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03851156
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt083469
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt083469
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0327210
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt099480
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt099480
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt090216
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0183306
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0273522
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010746
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0231661
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/TotalExpensesPerForm990Amt0327210
IRS990ScheduleD/TotalLiabilityAmt010746
IRS990ScheduleD/TotalRevenuePerForm990Amt0231661
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0231661
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0327210
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/ExplanationTxt1VP OF FINANCE FOR THE MANAGING AGENT RECEIVES THE 990 FROM THE AUDITOR AND REVIEWS THE FORM. THE 990 IS REVIEWED BY THE CPA WITH THE BOARD OF DIRECTORS AS 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. THE MANAGING AGENT DISCOURAGES THIS TYPE OF RELATIONSHIP AND RECOMMENDS AN ALTERNATIVE SITUATION IF AT ALL POSSIBLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS 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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03213122
IRS990/TotalAssetsEOYAmt03115230
IRS990/TotalAssetsGrp/BOYAmt03213122
IRS990/TotalAssetsGrp/EOYAmt03115230
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt051014
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0276196
IRS990/TotalFunctionalExpensesGrp/TotalAmt0327210
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt015517
IRS990/TotalLiabilitiesEOYAmt013174
IRS990/TotalLiabilitiesGrp/BOYAmt015517
IRS990/TotalLiabilitiesGrp/EOYAmt013174
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03197605
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03102056
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0276196
IRS990/TotalProgramServiceRevenueAmt0228263
IRS990/TotalReportableCompFromOrgAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0231661
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03213122
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03115230
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0700 E BRIGHTON AVE
IRS990/USAddress/CityNm0SYRACUSE
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd013205
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.CHRISTOPHER-COMMUNITY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-09-22 18:59:49Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KIMBERLY TOWNSEND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRPERSON
ReturnHeader/BusinessOfficerGrp/PhoneNum03154241821
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LORETTO OBRIEN ROAD HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT FUND COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0LORE
ReturnHeader/Filer/EIN0161594409
ReturnHeader/Filer/PhoneNum03154241821
ReturnHeader/Filer/USAddress/AddressLine1Txt0990 JAMES STREET
ReturnHeader/Filer/USAddress/CityNm0SYRACUSE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd013203
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C087739FAAF2836189FF4B163CC5B30A96832739

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