Civic Intelligence

Rivercrest Commons Housing Development Fund Company Inc.

990 • Fiscal year 2016 • EIN 20-0597209

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 13, 2017

Organization ProfileN/A
52 Division StreetAmsterdam, NY 12010

(518) 842-2894

Siviq Scores

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

Liabilities / Assets

30th percentile

0.07x

Higher debt load relative to assets than 30% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

45th percentile

0.86x

Higher debt load relative to revenue than 45% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Source year 2016

Net Margin

20th percentile

-35%

Higher net margin than 20% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

2016 filings • NTEE L • $500k-$1M nonprofits • Source year 2016

Asset Growth

58th percentile

-1.1%

Faster asset growth than 58% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

66th percentile

4.6%

Faster revenue growth than 66% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets30th percentile

Assets

Down

$822,991

Down $9,504 (-1.1%) from 2015

Net Assets

Down

$766,270

Down $22,869 (-2.9%) from 2015

Liabilities

Up

$56,721

Up $13,365 (+31%) from 2015

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin20th percentile

Revenue

Up

$65,895

Up $2,904 (+4.6%) from 2015

Expenses

Down

$88,764

Down $6,504 (-6.8%) from 2015

Net Income

Up

-$22,869

Up $9,408 (+29%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$1.0M$500K$0Assets 2010: $979,575Liabilities 2010: $40,787Net Assets 2010: $938,7882010Assets 2011: $943,145Liabilities 2011: $44,531Net Assets 2011: $898,6142011Assets 2012: $911,608Liabilities 2012: $44,078Net Assets 2012: $867,5302012Assets 2013: $885,049Liabilities 2013: $40,471Net Assets 2013: $844,5782013Assets 2014: $863,817Liabilities 2014: $42,401Net Assets 2014: $821,4162014Assets 2015: $832,495Liabilities 2015: $43,356Net Assets 2015: $789,1392015Assets 2016: $822,991Liabilities 2016: $56,721Net Assets 2016: $766,2702016Assets 2017: $796,644Liabilities 2017: $54,471Net Assets 2017: $742,1732017Assets 2018: $768,364Liabilities 2018: $57,715Net Assets 2018: $710,6492018Assets 2019: $502,629Liabilities 2019: $14,988Net Assets 2019: $487,6412019Assets 2020: $472,559Liabilities 2020: $11,627Net Assets 2020: $460,9322020Assets 2021: $442,357Liabilities 2021: $10,038Net Assets 2021: $432,3192021Assets 2022: $427,857Liabilities 2022: $36,458Net Assets 2022: $391,3992022Assets 2023: $414,817Liabilities 2023: $64,217Net Assets 2023: $350,6002023Assets 2024: $415,741Liabilities 2024: $136,749Net Assets 2024: $278,9922024

Highlighted filing

2016

Assets$822,991
Liabilities$56,721
Net Assets$766,270
Open 2016 Filing

Operations Trend

Revenue Growth66th percentile

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

$200K$100K$0-$100KRevenue 2010: $47,866Expenses 2010: $94,816Net Income 2010: -$46,9502010Revenue 2011: $49,251Expenses 2011: $89,425Net Income 2011: -$40,1742011Expenses 2012: $96,6592012Revenue 2013: $66,280Expenses 2013: $89,232Net Income 2013: -$22,9522013Revenue 2014: $66,360Expenses 2014: $89,522Net Income 2014: -$23,1622014Revenue 2015: $62,991Expenses 2015: $95,268Net Income 2015: -$32,2772015Revenue 2016: $65,895Expenses 2016: $88,764Net Income 2016: -$22,8692016Revenue 2017: $67,669Expenses 2017: $91,766Net Income 2017: -$24,0972017Revenue 2018: $66,200Expenses 2018: $97,724Net Income 2018: -$31,5242018Revenue 2019: $65,223Expenses 2019: $102,945Net Income 2019: -$37,7222019Revenue 2020: $65,743Expenses 2020: $92,452Net Income 2020: -$26,7092020Revenue 2021: $64,107Expenses 2021: $92,720Net Income 2021: -$28,6132021Revenue 2022: $58,428Expenses 2022: $99,348Net Income 2022: -$40,9202022Revenue 2023: $62,043Expenses 2023: $102,842Net Income 2023: -$40,7992023Revenue 2024: $63,027Expenses 2024: $134,635Net Income 2024: -$71,6082024

Highlighted filing

2016

Revenue$65,895
Expenses$88,764
Net Income-$22,869
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$65,895
Mission and Program Overview

Mission

Elderly and handicapped housing

Elderly and handicapped housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$746,626$706,408▼ $40,218
Cash and Non-Interest-Bearing Accounts$42,164$65,887▲ $23,723
Prepaid Expenses and Deferred Charges$3,354$3,466▲ $112
Accounts Receivable$815$758▼ $57
Total Assets$832,495$822,991▼ $9,504
Other Assets Total$39,536$46,472▲ $6,936
Liabilities
Accounts Payable and Accrued Expenses$41,369$54,517▲ $13,148
Escrow Account Liability-$2,204-
Other Liabilities$1,987--
Total Liabilities$43,356$56,721▲ $13,365
Net Assets / Fund Balance
Unrestricted Net Assets$789,139$766,270▼ $22,869
Total Net Assets Fund Balance$789,139$766,270▼ $22,869
Total Liabilities and Net Assets / Fund Balance$832,495$822,991▼ $9,504

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$701,250$400,864$1,102,114
Equipment$158$11,647$11,805
Land$5,000-$5,000
Other Assets Org$2,204--
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Damaris G CarboneExecutive Di
Jani MontalvoMember
Kathy PeytonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$40,928
Program Service Revenue
$23,884
Investment Income
$17
Other Revenue
$1,066
Change in Net Assets
$-22,869

Audited Revenue Reconciliation

Revenue per Audited Statements
$65,895
Total Revenue per Audited Statements
$65,895
Total Revenue per Form 990
$65,895
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$88,764
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$40,217--$40,217
Occupancy$30,825--$30,825
Fees for Services Other-$9,759-$9,759
Fees for Services Management-$4,374-$4,374
Office Expenses-$2,089-$2,089
Fees for Services Accounting-$1,500-$1,500
Total Functional Expenses$71,042$17,722$0$88,764

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$88,764
Total Expenses per Audited Statements$88,764
Total Expenses per Form 990$88,764
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The company has entered into a management agreement with rivercrest development corporation. The agreement provides for a fee equal to 6.68% of net rental collections. Management fees for the year ended december 31, 2016 amounted to 4,374.”

Form 990, Page 6, Part VI, Line 8B

“The company has no such committees.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the management and presented to the board after filing.”

Form 990, Page 6, Part VI, Line 19

“The company's governing documents and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Rivercrest Commons Housing
EIN
20-0597209
Phone
5188422894
Address
52 DIVISION STREET, AMSTERDAM, NY 12010

Signing Officer

Name
Damaris G Carbone
Title
Executive Director
Phone
5188422894
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Damaris G Carbone
Formed
2004
Legal Domicile
Ny
Voting Board Members
2
Independent Board Members
2
Employees
0

Preparer

Firm
Guyder Hurley Pc
Address
100 GRANDVIEW RD STE 320, BRAINTREE, MA 02184-2691
Preparer
J Thomas Hurley
Phone
6173766226
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Mgt svcs - reimb salary & ben 0 9,759 0”

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The escrow account liability on part x line 21 consists of tenant security deposits which are held in a separate bank account. The deposits are returned to the tenant upon termination of the lease.”

Schedule D, Page 3, Part X

“The preparation of financial statements in conformity with accounting principles generally accepted in the united states of america requires the company to report information regarding its exposure to various tax positions taken by the company. The company has determined whether any tax positions have met the recognition threshold and have measured the company's exposure to those tax positions. Management believes that the company has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed. The open tax years are years ended 2013 through 2015. Any interest or penalties from federal or state tax authorities were recorded in the accompanying 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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IRS990ScheduleD/LandGrp/BookValueAmt05000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt05000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt034745
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt19523
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22204
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS HELD IN TRU
IRS990ScheduleD/RevenueSubtotalAmt065895
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ESCROW ACCOUNT LIABILITY ON PART X LINE 21 CONSISTS OF TENANT SECURITY DEPOSITS WHICH ARE HELD IN A SEPARATE BANK ACCOUNT. THE DEPOSITS ARE RETURNED TO THE TENANT UPON TERMINATION OF THE LEASE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE COMPANY TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE COMPANY. THE COMPANY HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAVE MEASURED THE COMPANY'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE COMPANY HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. THE OPEN TAX YEARS ARE YEARS ENDED 2013 THROUGH 2015. ANY INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0706408
IRS990ScheduleD/TotalBookValueOtherAssetsAmt046472
IRS990ScheduleD/TotalExpensesPerForm990Amt088764
IRS990ScheduleD/TotalRevenuePerForm990Amt065895
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt065895
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt088764
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COMPANY HAS ENTERED INTO A MANAGEMENT AGREEMENT WITH RIVERCREST DEVELOPMENT CORPORATION. THE AGREEMENT PROVIDES FOR A FEE EQUAL TO 6.68% OF NET RENTAL COLLECTIONS. MANAGEMENT FEES FOR THE YEAR ENDED DECEMBER 31, 2016 AMOUNTED TO 4,374.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COMPANY HAS NO SUCH COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED BY THE MANAGEMENT AND PRESENTED TO THE BOARD AFTER FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COMPANY'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MGT SVCS - REIMB SALARY & BEN 0 9,759 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0832495
IRS990/TotalAssetsEOYAmt0822991
IRS990/TotalAssetsGrp/BOYAmt0832495
IRS990/TotalAssetsGrp/EOYAmt0822991
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt040928
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017722
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt071042
IRS990/TotalFunctionalExpensesGrp/TotalAmt088764
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt043356
IRS990/TotalLiabilitiesEOYAmt056721
IRS990/TotalLiabilitiesGrp/BOYAmt043356
IRS990/TotalLiabilitiesGrp/EOYAmt056721
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0789139
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0766270
IRS990/TotalProgramServiceExpensesAmt071042
IRS990/TotalProgramServiceRevenueAmt023884
IRS990/TotalRevenueGrp/ExclusionAmt017
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt024950
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt065895
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0832495
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0822991
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0789139
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0766270
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt052 DIVISION STREET
IRS990/USAddress/CityNm0AMSTERDAM
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012010
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAMARIS G CARBONE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05188422894
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RIVERCREST COMMONS HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT FUND COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0RIVE
ReturnHeader/Filer/EIN0200597209
ReturnHeader/Filer/PhoneNum05188422894
ReturnHeader/Filer/USAddress/AddressLine1Txt052 DIVISION STREET
ReturnHeader/Filer/USAddress/CityNm0AMSTERDAM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012010
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0336CE3EE59BE6077332C5211F1FC94BA34208EE5
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0336CE3EE59BE6077332C5211F1FC94BA34208EE5
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043520245
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GUYDER HURLEY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 GRANDVIEW RD STE 320
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BRAINTREE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0021842691
ReturnHeader/PreparerPersonGrp/PhoneNum06173766226
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J THOMAS HURLEY
ReturnHeader/ReturnTs02017-11-13T11:51:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$822,991
Liabilities
$56,721
Net assets
$766,270
Revenue
$65,895
Expenses
$88,764
Net income
-$22,869
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.16$1.37$2.79$0.63$1.35$0.72
2023Detailed filing. Detailed filing data is available for this year.$4.15$0.64$3.51$0.62$1.03$0.41
2022Detailed filing. Detailed filing data is available for this year.$4.28$0.36$3.91$0.58$0.99$0.41
2021Detailed filing. Detailed filing data is available for this year.$4.42$0.10$4.32$0.64$0.93$0.29
2020Detailed filing. Detailed filing data is available for this year.$4.73$0.12$4.61$0.66$0.92$0.27
2019Detailed filing. Detailed filing data is available for this year.$5.03$0.15$4.88$0.65$1.03$0.38
2018Detailed filing. Detailed filing data is available for this year.$7.68$0.58$7.11$0.66$0.98$0.32
2017Detailed filing. Detailed filing data is available for this year.$7.97$0.54$7.42$0.68$0.92$0.24
2016Detailed filing. Detailed filing data is available for this year.$8.23$0.57$7.66$0.66$0.89$0.23
2015Detailed filing. Detailed filing data is available for this year.$8.32$0.43$7.89$0.63$0.95$0.32
2014Detailed filing. Detailed filing data is available for this year.$8.64$0.42$8.21$0.66$0.90$0.23
2013Detailed filing. Detailed filing data is available for this year.$8.85$0.40$8.45$0.66$0.89$0.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.12$0.44$8.68$0.97
2011Summary only. Only limited summary data is available for this year.$9.43$0.45$8.99$0.49$0.89$0.40
2010Summary only. Only limited summary data is available for this year.$9.80$0.41$9.39$0.48$0.95$0.47