Civic Intelligence

Rivercrest Commons Housing Development Fund Company Inc.

990 • Fiscal year 2017 • EIN 20-0597209

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 08, 2018

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.

2017 filings • NTEE L • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

48th percentile

0.80x

Higher debt load relative to revenue than 48% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Source year 2017

Net Margin

14th percentile

-36%

Higher net margin than 14% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2017 filings • NTEE L • $500k-$1M nonprofits • Source year 2017

Asset Growth

38th percentile

-3.2%

Faster asset growth than 38% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

55th percentile

2.7%

Faster revenue growth than 55% of similar nonprofits.

2017 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets30th percentile

Assets

Down

$796,644

Down $26,347 (-3.2%) from 2016

Net Assets

Down

$742,173

Down $24,097 (-3.1%) from 2016

Liabilities

Down

$54,471

Down $2,250 (-4.0%) from 2016

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin14th percentile

Revenue

Up

$67,669

Up $1,774 (+2.7%) from 2016

Expenses

Up

$91,766

Up $3,002 (+3.4%) from 2016

Net Income

Down

-$24,097

Down $1,228 (-5.4%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth38th 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

2017

Assets$796,644
Liabilities$54,471
Net Assets$742,173
Open 2017 Filing

Operations Trend

Revenue Growth55th 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

2017

Revenue$67,669
Expenses$91,766
Net Income-$24,097
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 8, 2018
Return Version
2017v2.3
Gross Receipts
$67,669
Mission and Program Overview

Mission

Elderly and handicapped housing

Elderly and handicapped housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$706,408$666,191▼ $40,217
Cash and Non-Interest-Bearing Accounts$65,887$77,387▲ $11,500
Prepaid Expenses and Deferred Charges$3,466$3,151▼ $315
Accounts Receivable$758--
Total Assets$822,991$796,644▼ $26,347
Other Assets Total$46,472$49,915▲ $3,443
Liabilities
Accounts Payable and Accrued Expenses$54,517$52,027▼ $2,490
Escrow Account Liability$2,204$2,209▲ $5
Deferred Revenue-$235-
Total Liabilities$56,721$54,471▼ $2,250
Net Assets / Fund Balance
Unrestricted Net Assets$766,270$742,173▼ $24,097
Total Net Assets Fund Balance$766,270$742,173▼ $24,097
Total Liabilities and Net Assets / Fund Balance$822,991$796,644▼ $26,347

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$661,138$440,976$1,102,114
Equipment$53$11,752$11,805
Land$5,000-$5,000
Other Assets Org$2,209--
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$40,886
Program Service Revenue
$26,028
Investment Income
$17
Other Revenue
$738
Change in Net Assets
$-24,097

Audited Revenue Reconciliation

Revenue per Audited Statements
$67,669
Total Revenue per Audited Statements
$67,669
Total Revenue per Form 990
$67,669
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$91,766
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$32,627--$32,627
Fees for Services Other-$10,372-$10,372
Fees for Services Management-$4,738-$4,738
Office Expenses-$2,312-$2,312
Fees for Services Accounting-$1,500-$1,500
Total Functional Expenses$72,844$18,922$0$91,766

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$91,766
Total Expenses per Audited Statements$91,766
Total Expenses per Form 990$91,766
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, 2017 amounted to 4,738.”

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
2018-11-08
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 10,372 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 unrecrded 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 2014 through 2016. Any interest or penalties assessed to the compnay are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.”

Raw XML Appendix359 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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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 UNRECRDED 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 2014 THROUGH 2016. ANY INTEREST OR PENALTIES ASSESSED TO THE COMPNAY ARE RECORDED IN OPERATING EXPENSES. NO 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/TotalBookValueLandBuildingsAmt0666191
IRS990ScheduleD/TotalBookValueOtherAssetsAmt049915
IRS990ScheduleD/TotalExpensesPerForm990Amt091766
IRS990ScheduleD/TotalRevenuePerForm990Amt067669
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt067669
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt091766
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, 2017 AMOUNTED TO 4,738.
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 10,372 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/TotalAssetsBOYAmt0822991
IRS990/TotalAssetsEOYAmt0796644
IRS990/TotalAssetsGrp/BOYAmt0822991
IRS990/TotalAssetsGrp/EOYAmt0796644
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt040886
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018922
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt072844
IRS990/TotalFunctionalExpensesGrp/TotalAmt091766
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt056721
IRS990/TotalLiabilitiesEOYAmt054471
IRS990/TotalLiabilitiesGrp/BOYAmt056721
IRS990/TotalLiabilitiesGrp/EOYAmt054471
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0766270
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0742173
IRS990/TotalProgramServiceExpensesAmt072844
IRS990/TotalProgramServiceRevenueAmt026028
IRS990/TotalRevenueGrp/ExclusionAmt017
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt026766
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt067669
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0822991
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0796644
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0766270
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0742173
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt052 DIVISION STREET
IRS990/USAddress/CityNm0AMSTERDAM
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012010
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAMARIS G CARBONE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05188422894
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-08
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/AtSubmissionCreationDeviceId04C7766BF02733C933FBF1C5294D55C2D57DD8BFC
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CCD344DB358877955BD6CDA542A4954E7FA27565
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-11-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm011:45:07
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/PreparationDt02018-11-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J THOMAS HURLEY
ReturnHeader/ReturnTs02018-11-08T12:45:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$796,644
Liabilities
$54,471
Net assets
$742,173
Revenue
$67,669
Expenses
$91,766
Net income
-$24,097
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