Civic Intelligence

704 Fhc LLC

990 • Fiscal year 2017 • EIN 20-1272402

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 10, 2018

Organization Profile
C/O Falmouth Housing CorpFalmouth, MA 02540

(508) 540-4009

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.15x

Higher debt load relative to assets than 92% of similar nonprofits.

2017 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

61st percentile

6.81x

Higher debt load relative to revenue than 61% of similar nonprofits.

2017 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2017

Net Margin

37th percentile

-5.8%

Higher net margin than 37% of similar nonprofits.

2017 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

41st percentile

$0

Higher top officer pay than 41% of similar nonprofits.

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

2017 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2017

Asset Growth

26th percentile

-3.2%

Faster asset growth than 26% of similar nonprofits.

2017 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

58th percentile

2.7%

Faster revenue growth than 58% of similar nonprofits.

2017 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$5,255,838

Down $174,208 (-3.2%) from 2016

Net Assets

Down

-$809,963

Down $51,673 (-6.8%) from 2016

Liabilities

Down

$6,065,801

Down $122,535 (-2.0%) from 2016

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin37th percentile

Revenue

Up

$890,987

Up $23,120 (+2.7%) from 2016

Expenses

Down

$942,660

Down $14,859 (-1.6%) from 2016

Net Income

Up

-$51,673

Up $37,979 (+42%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $6,655,320Liabilities 2010: $6,611,635Net Assets 2010: $43,6852010Assets 2011: $6,479,975Liabilities 2011: $6,550,150Net Assets 2011: -$70,1752011Assets 2012: $6,304,081Liabilities 2012: $6,486,296Net Assets 2012: -$182,2152012Assets 2013: $5,985,667Liabilities 2013: $6,348,974Net Assets 2013: -$363,3072013Assets 2014: $5,816,242Liabilities 2014: $6,338,731Net Assets 2014: -$522,4892014Assets 2015: $5,593,870Liabilities 2015: $6,262,509Net Assets 2015: -$668,6392015Assets 2016: $5,430,046Liabilities 2016: $6,188,336Net Assets 2016: -$758,2902016Assets 2017: $5,255,838Liabilities 2017: $6,065,801Net Assets 2017: -$809,9632017Assets 2018: $5,076,465Liabilities 2018: $5,729,128Net Assets 2018: -$652,6632018Assets 2019: $4,833,300Liabilities 2019: $5,593,403Net Assets 2019: -$760,1032019Assets 2020: $4,677,082Liabilities 2020: $5,482,889Net Assets 2020: -$805,8072020Assets 2021: $4,539,003Liabilities 2021: $5,310,605Net Assets 2021: -$771,6022021Assets 2022: $4,421,705Liabilities 2022: $5,265,250Net Assets 2022: -$843,5452022Assets 2023: $4,392,123Liabilities 2023: $5,256,693Net Assets 2023: -$864,5702023Assets 2024: $4,413,639Liabilities 2024: $5,132,497Net Assets 2024: -$718,8582024

Highlighted filing

2017

Assets$5,255,838
Liabilities$6,065,801
Net Assets-$809,963
Open 2017 Filing

Operations Trend

Revenue Growth58th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $929,2032010Expenses 2011: $938,4302011Expenses 2012: $930,0612012Revenue 2013: $805,273Expenses 2013: $986,365Net Income 2013: -$181,0922013Revenue 2014: $814,979Expenses 2014: $974,161Net Income 2014: -$159,1822014Revenue 2015: $882,160Expenses 2015: $1,028,310Net Income 2015: -$146,1502015Revenue 2016: $867,867Expenses 2016: $957,519Net Income 2016: -$89,6522016Revenue 2017: $890,987Expenses 2017: $942,660Net Income 2017: -$51,6732017Revenue 2018: $917,306Expenses 2018: $972,517Net Income 2018: -$55,2112018Revenue 2019: $958,545Expenses 2019: $1,024,957Net Income 2019: -$66,4122019Revenue 2020: $987,908Expenses 2020: $1,033,612Net Income 2020: -$45,7042020Revenue 2021: $1,127,343Expenses 2021: $1,093,138Net Income 2021: $34,2052021Revenue 2022: $1,149,759Expenses 2022: $1,221,702Net Income 2022: -$71,9432022Revenue 2023: $1,275,853Expenses 2023: $1,296,878Net Income 2023: -$21,0252023Revenue 2024: $1,371,084Expenses 2024: $1,225,371Net Income 2024: $145,7132024

Highlighted filing

2017

Revenue$890,987
Expenses$942,660
Net Income-$51,673
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 10, 2018
Return Version
2017v2.3
Gross Receipts
$890,987
Mission and Program Overview

Mission

Educate, stimulate, research and provide affordable housing in the town of falmouth, ma

Educate, stimulate, research and provide affordable housing in the town of falmouth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,999,241$4,764,200▼ $235,041
Cash and Non-Interest-Bearing Accounts$184,934$229,294▲ $44,360
Prepaid Expenses and Deferred Charges$18,073$18,073→ $0
Accounts Receivable$3,260$1,288▼ $1,972
Total Assets$5,430,046$5,255,838▼ $174,208
Other Assets Total$224,538$242,983▲ $18,445
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,971,002$5,851,471▼ $119,531
Other Liabilities$213,660$212,511▼ $1,149
Accounts Payable and Accrued Expenses$3,674$1,819▼ $1,855
Total Liabilities$6,188,336$6,065,801▼ $122,535
Net Assets / Fund Balance
Unrestricted Net Assets$-758,290$-809,963▼ $51,673
Total Net Assets Fund Balance$-758,290$-809,963▼ $51,673
Total Liabilities and Net Assets / Fund Balance$5,430,046$5,255,838▼ $174,208

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,234,710$5,756$7,240,466
Land$696,500-$696,500
Equipment$62,621$720$63,341
Other Land Buildings$-3,225,699$3,225,699-
Leasehold Improvements$-3,932$3,932-
Compensation and Service Providers
Top Officer Pay41st percentile

Board Members and Trustees

NameTitle
Linda ClarkPresident
Jessica Erickson WhritenourDirector
Molly English-bragaDirector
Robert FalveyDirector
Thomas LebachDirector
Frank K Duffy Jr EsqClerk
Eric T TurkingtonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$28,900
Program Service Revenue
$836,909
Investment Income
$83
Other Revenue
$25,095
Change in Net Assets
$-51,673

Audited Revenue Reconciliation

Revenue per Audited Statements
$890,987
Total Revenue per Audited Statements
$890,987
Total Revenue per Form 990
$890,987
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$884,191
Salaries, Compensation, and Employee Benefits$58,469
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$266,244--$266,244
Interest$199,965--$199,965
Fees for Services Management-$112,122-$112,122
Occupancy$78,484--$78,484
Other Salaries and Wages$53,415--$53,415
Insurance$51,560--$51,560
Fees for Services Accounting-$10,739-$10,739
Payroll Taxes$5,054--$5,054
Office Expenses$327--$327
Other Expenses$301--$301
Total Functional Expenses$819,799$122,861$0$942,660

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$942,660
Total Expenses per Audited Statements$942,660
Total Expenses per Form 990$942,660
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$212,511
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The board of directors will receive a copy of the form 990 filing via e-mail and have authorized the president to review and sign on their behalf.”

Form 990, Page 6, Part VI, Line 12C

“The board members meet on an annual basis to discuss the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 15A

“Compensation process for top official- independent board members reviewed and approved the compensation of the executive director.”

Form 990, Page 6, Part VI, Line 15B

“Independent board members reviewed and approved the compensation of the key employees and documented the process in minutes of the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
704 Fhc LLC
EIN
20-1272402
Address
C/O FALMOUTH HOUSING CORP, FALMOUTH, MA 02540

Signing Officer

Name
Linda Clark
Title
President
Phone
5085404009
Signed
2018-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Clark
Formed
2005
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
3

Preparer

Firm
Sanders Walsh & Eaton LLC
Address
PO BOX F, OSTERVILLE, MA 02655
Preparer
Michael J Walsh CPA
Phone
5084280790
Raw XML Appendix330 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS WILL RECEIVE A COPY OF THE FORM 990 FILING VIA E-MAIL AND HAVE AUTHORIZED THE PRESIDENT TO REVIEW AND SIGN ON THEIR BEHALF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEMBERS MEET ON AN ANNUAL BASIS TO DISCUSS THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION PROCESS FOR TOP OFFICIAL- INDEPENDENT BOARD MEMBERS REVIEWED AND APPROVED THE COMPENSATION OF THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INDEPENDENT BOARD MEMBERS REVIEWED AND APPROVED THE COMPENSATION OF THE KEY EMPLOYEES AND DOCUMENTED THE PROCESS IN MINUTES OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05430046
IRS990/TotalAssetsEOYAmt05255838
IRS990/TotalAssetsGrp/BOYAmt05430046
IRS990/TotalAssetsGrp/EOYAmt05255838
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt028900
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0122861
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0819799
IRS990/TotalFunctionalExpensesGrp/TotalAmt0942660
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06188336
IRS990/TotalLiabilitiesEOYAmt06065801
IRS990/TotalLiabilitiesGrp/BOYAmt06188336
IRS990/TotalLiabilitiesGrp/EOYAmt06065801
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-758290
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-809963
IRS990/TotalProgramServiceExpensesAmt0819799
IRS990/TotalProgramServiceRevenueAmt0836909
IRS990/TotalRevenueGrp/ExclusionAmt083
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0862004
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0890987
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05430046
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05255838
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-758290
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-809963
IRS990/USAddress/AddressLine1Txt0129 FALMOUTH HEIGHTS RD 20
IRS990/USAddress/CityNm0FALMOUTH
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002540
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA CLARK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05085404009
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0704 FHC LLC
ReturnHeader/Filer/BusinessNameControlTxt0704F
ReturnHeader/Filer/EIN0201272402
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O FALMOUTH HOUSING CORP
ReturnHeader/Filer/USAddress/CityNm0FALMOUTH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0BB858BA31F04699E906BF4765556342F31FF276D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03B6C3453B7738FCAC58C476F75E7199F568429FC
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-04-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm018:08:58
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043128198
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SANDERS WALSH & EATON LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX F
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OSTERVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002655
ReturnHeader/PreparerPersonGrp/PhoneNum05084280790
ReturnHeader/PreparerPersonGrp/PreparationDt02018-03-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL J WALSH CPA
ReturnHeader/ReturnTs02018-04-07T19:08:58-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,255,838
Liabilities
$6,065,801
Net assets
-$809,963
Revenue
$890,987
Expenses
$942,660
Net income
-$51,673
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.41$5.13$0.72$1.37$1.23$0.15
2023Detailed filing. Detailed filing data is available for this year.$4.39$5.26$0.86$1.28$1.30$0.02
2022Detailed filing. Detailed filing data is available for this year.$4.42$5.27$0.84$1.15$1.22$0.07
2021Detailed filing. Detailed filing data is available for this year.$4.54$5.31$0.77$1.13$1.09$0.03
2020Detailed filing. Detailed filing data is available for this year.$4.68$5.48$0.81$0.99$1.03$0.05
2019Detailed filing. Detailed filing data is available for this year.$4.83$5.59$0.76$0.96$1.02$0.07
2018Detailed filing. Detailed filing data is available for this year.$5.08$5.73$0.65$0.92$0.97$0.06
2017Detailed filing. Detailed filing data is available for this year.$5.26$6.07$0.81$0.89$0.94$0.05
2016Detailed filing. Detailed filing data is available for this year.$5.43$6.19$0.76$0.87$0.96$0.09
2015Detailed filing. Detailed filing data is available for this year.$5.59$6.26$0.67$0.88$1.03$0.15
2014Detailed filing. Detailed filing data is available for this year.$5.82$6.34$0.52$0.81$0.97$0.16
2013Detailed filing. Detailed filing data is available for this year.$5.99$6.35$0.36$0.81$0.99$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.30$6.49$0.18$0.93
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.48$6.55$0.07$0.94
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.66$6.61$0.04$0.93