Civic Intelligence

Wildberry Apartments Inc

EIN 16-1668935 • 501(c)3 • Providence, RI

Profile

To provide affordable housing in west warwick, rhode island for senior citizens and the disabled under section 202 of the national affordable housing act.

861A Broad StreetProvidence, RI 02907

www.wdchoc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.40x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

14.29x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

13th percentile

-23%

Higher net margin than 13% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

31st percentile

-2.5%

Faster asset growth than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

68th percentile

21%

Faster revenue growth than 68% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$4,592,415

Down $117,923 (-2.5%) from 2023

Liabilities

Down

$6,438,436

Down $13,064 (-0.2%) from 2023

Net Assets

Down

-$1,846,021

Down $104,859 (-6.0%) from 2023

Operations
Liabilities / Revenue99th percentileNet Margin13th percentile

Revenue

Up

$450,661

Up $77,857 (+21%) from 2023

Expenses

Up

$555,520

Up $34,622 (+6.6%) from 2023

Net Income

Up

-$104,859

Up $43,235 (+29%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth31st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0-$5.0MAssets 2011: $6,375,239Liabilities 2011: $6,403,432Net Assets 2011: -$28,1932011Assets 2012: $6,237,612Liabilities 2012: $6,384,182Net Assets 2012: -$146,5702012Assets 2013: $6,095,049Liabilities 2013: $6,395,093Net Assets 2013: -$300,0442013Assets 2014: $5,948,314Liabilities 2014: $6,395,403Net Assets 2014: -$447,0892014Assets 2015: $5,784,699Liabilities 2015: $6,393,770Net Assets 2015: -$609,0712015Assets 2016: $5,657,506Liabilities 2016: $6,425,975Net Assets 2016: -$768,4692016Assets 2017: $5,503,205Liabilities 2017: $6,387,329Net Assets 2017: -$884,1242017Assets 2018: $5,370,337Liabilities 2018: $6,391,868Net Assets 2018: -$1,021,5312018Assets 2019: $5,231,547Liabilities 2019: $6,400,295Net Assets 2019: -$1,168,7482019Assets 2020: $5,109,415Liabilities 2020: $6,396,588Net Assets 2020: -$1,287,1732020Assets 2021: $4,971,755Liabilities 2021: $6,398,356Net Assets 2021: -$1,426,6012021Assets 2023: $4,710,338Liabilities 2023: $6,451,500Net Assets 2023: -$1,741,1622023Assets 2024: $4,592,415Liabilities 2024: $6,438,436Net Assets 2024: -$1,846,0212024

Highlighted filing

2024

Assets$4,592,415
Liabilities$6,438,436
Net Assets-$1,846,021
Open 2024 Filing

Operations Trend

Revenue Growth68th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KExpenses 2011: $513,5292011Revenue 2012: $361,952Expenses 2012: $480,329Net Income 2012: -$118,3772012Expenses 2013: $512,8022013Revenue 2014: $361,635Expenses 2014: $508,680Net Income 2014: -$147,0452014Revenue 2015: $388,814Expenses 2015: $550,796Net Income 2015: -$161,9822015Revenue 2016: $385,165Expenses 2016: $544,563Net Income 2016: -$159,3982016Revenue 2017: $403,076Expenses 2017: $518,731Net Income 2017: -$115,6552017Revenue 2018: $401,325Expenses 2018: $538,732Net Income 2018: -$137,4072018Revenue 2019: $405,896Expenses 2019: $553,113Net Income 2019: -$147,2172019Revenue 2020: $402,146Expenses 2020: $520,571Net Income 2020: -$118,4252020Revenue 2021: $393,468Expenses 2021: $532,896Net Income 2021: -$139,4282021Revenue 2023: $372,804Expenses 2023: $520,898Net Income 2023: -$148,0942023Revenue 2024: $450,661Expenses 2024: $555,520Net Income 2024: -$104,8592024

Highlighted filing

2024

Revenue$450,661
Expenses$555,520
Net Income-$104,859
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,592,415
Liabilities
$6,438,436
Net assets
-$1,846,021
Revenue
$450,661
Expenses
$555,520
Net income
-$104,859
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.59$6.44$1.85$0.45$0.56$0.10
2023Detailed filing. Detailed filing data is available for this year.$4.71$6.45$1.74$0.37$0.52$0.15
2021Detailed filing. Detailed filing data is available for this year.$4.97$6.40$1.43$0.39$0.53$0.14
2020Detailed filing. Detailed filing data is available for this year.$5.11$6.40$1.29$0.40$0.52$0.12
2019Detailed filing. Detailed filing data is available for this year.$5.23$6.40$1.17$0.41$0.55$0.15
2018Detailed filing. Detailed filing data is available for this year.$5.37$6.39$1.02$0.40$0.54$0.14
2017Detailed filing. Detailed filing data is available for this year.$5.50$6.39$0.88$0.40$0.52$0.12
2016Detailed filing. Detailed filing data is available for this year.$5.66$6.43$0.77$0.39$0.54$0.16
2015Detailed filing. Detailed filing data is available for this year.$5.78$6.39$0.61$0.39$0.55$0.16
2014Detailed filing. Detailed filing data is available for this year.$5.95$6.40$0.45$0.36$0.51$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.10$6.40$0.30$0.51
2012Summary only. Only limited summary data is available for this year.$6.24$6.38$0.15$0.36$0.48$0.12
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.38$6.40$0.03$0.51
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$450,661
Mission and Program Overview

Mission

To provide affordable housing in west warwick, rhode island for senior citizens and the disabled under section 202 of the national affordable housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,415,492$4,258,630▼ $156,862
Savings and Temporary Cash Investments$252,330$280,393▲ $28,063
Prepaid Expenses and Deferred Charges$25,674$30,705▲ $5,031
Cash and Non-Interest-Bearing Accounts$15,273$21,835▲ $6,562
Accounts Receivable$1,569$852▼ $717
Total Assets$4,710,338$4,592,415▼ $117,923
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,324,000$6,324,000→ $0
Accounts Payable and Accrued Expenses$112,046$97,682▼ $14,364
Other Liabilities$15,454$16,754▲ $1,300
Total Liabilities$6,451,500$6,438,436▼ $13,064
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,741,162$-1,846,021▼ $104,859
Total Net Assets Fund Balance$-1,741,162$-1,846,021▼ $104,859
Total Liabilities and Net Assets / Fund Balance$4,710,338$4,592,415▼ $117,923

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,617,153$2,423,642$6,040,795
Land$640,570-$640,570
Other Land Buildings$907$44,163$45,070
Equipment$0$21,019$21,019
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Frank SheaPresident
Vickie WaltersVice President
Michelle BrophySecretary
Larry KellamTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$237,626
Program Service Revenue
$208,472
Investment Income
$4,563
Other Revenue
$0
Change in Net Assets
$-104,859

Audited Revenue Reconciliation

Revenue per Audited Statements
$450,661
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$450,661
Total Revenue per Form 990
$450,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$442,341
Salaries, Compensation, and Employee Benefits$113,179
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$159,257--$159,257
Depreciation Depletion$156,860--$156,860
Other Salaries and Wages$113,179--$113,179
Fees for Services Management-$44,235-$44,235
Insurance$35,319--$35,319
Fees for Services Accounting-$22,415-$22,415
Office Expenses-$11,892-$11,892
Travel-$1,184-$1,184
Other Expenses$6,908$525-$525
All Other Expenses-$356-$356
Fees for Services Legal-$127-$127
Total Functional Expenses$471,523$83,997$0$555,520

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$555,520
Total Expenses per Audited Statements$555,520
Total Expenses per Form 990$555,520
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 Deposit Liab$16,754
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Form 990 is available for review by the governing board upon request.”

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

“The governing body adheres to the conflict of interest policy that is in place. This policy is reviewed periodically.”

Form 990, Part VI, Section C, Line 19

“The governing documents and form 990 are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Wildberry Apartments Inc
EIN
16-1668935
Phone
4019412900
Address
861A BROAD STREET, PROVIDENCE, RI 02907

Signing Officer

Name
Frank Shea
Title
Executive Director
Phone
4019412900
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Shea
Formed
2003
Legal Domicile
Ri
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Damiano Burk & Nuttall Pc
Address
6 BLACKSTONE VALLEY PL STE 109, LINCOLN, RI 02865
Preparer
Jason Nuttall
Phone
4013332880
Supplemental Narrative

Additional Explanations

Form 990 Part XII Line 2C

“There have been no changes to the organization's process for selecting independent auditors or with respect to oversight of the audit.”

Financial Statement Notes

PART X, LINE 2:

“Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The corporation has analyzed tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. Management believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect to the corporation 's financial condition, results of operations or cash flows. Accordingly, the corporation has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at june 30, 2024. Tax years prior to 2020 have been closed for examination by taxing authorities.”

Raw XML AppendixShowing 400 of 427 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/Form990PartVIISectionAGrp/PersonNm2MICHELLE BROPHY
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0214966
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0200614
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE CORPORATION HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICTIONS WHERE IT OPERATES. MANAGEMENT BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT TO THE CORPORATION 'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE CORPORATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2024. TAX YEARS PRIOR TO 2020 HAVE BEEN CLOSED FOR EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS AVAILABLE FOR REVIEW BY THE GOVERNING BOARD UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY ADHERES TO THE CONFLICT OF INTEREST POLICY THAT IS IN PLACE. THIS POLICY IS REVIEWED PERIODICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE HAVE BEEN NO CHANGES TO THE ORGANIZATION'S PROCESS FOR SELECTING INDEPENDENT AUDITORS OR WITH RESPECT TO OVERSIGHT OF THE AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PART XII LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01

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