Civic Intelligence

704 Fhc LLC

990 • Fiscal year 2019 • EIN 20-1272402

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 23, 2020

Organization Profile
Falmouth Housing Corp 704 Main StFalmouth, MA 02540

(508) 540-4009

Siviq Scores

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

Liabilities / Assets

94th percentile

1.16x

Higher debt load relative to assets than 94% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

79th percentile

5.84x

Higher debt load relative to revenue than 79% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Net Margin

28th percentile

-6.9%

Higher net margin than 28% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

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.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2019

Asset Growth

16th percentile

-4.8%

Faster asset growth than 16% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

62nd percentile

4.5%

Faster revenue growth than 62% of similar nonprofits.

2019 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$4,833,300

Down $243,165 (-4.8%) from 2018

Net Assets

Down

-$760,103

Down $107,440 (-16%) from 2018

Liabilities

Down

$5,593,403

Down $135,725 (-2.4%) from 2018

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin28th percentile

Revenue

Up

$958,545

Up $41,239 (+4.5%) from 2018

Expenses

Up

$1,024,957

Up $52,440 (+5.4%) from 2018

Net Income

Down

-$66,412

Down $11,201 (-20%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2019

Assets$4,833,300
Liabilities$5,593,403
Net Assets-$760,103
Open 2019 Filing

Operations Trend

Revenue Growth62nd 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

2019

Revenue$958,545
Expenses$1,024,957
Net Income-$66,412
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 23, 2020
Return Version
2019v5.0
Gross Receipts
$958,545
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,517,786$4,260,212▼ $257,574
Cash and Non-Interest-Bearing Accounts$253,890$263,675▲ $9,785
Prepaid Expenses and Deferred Charges$18,073$18,094▲ $21
Total Assets$5,076,465$4,833,300▼ $243,165
Other Assets Total$286,716$291,319▲ $4,603
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,725,745$5,593,403▼ $132,342
Accounts Payable and Accrued Expenses$44,411--
Total Liabilities$5,770,156$5,593,403▼ $176,753
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-693,691$-760,103▼ $66,412
Total Net Assets Fund Balance$-693,691$-760,103▼ $66,412
Total Liabilities and Net Assets / Fund Balance$5,076,465$4,833,300▼ $243,165

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,553,269$3,712,530$7,265,799
Land$696,500-$696,500
Equipment$10,443$56,465$66,908
Other Assets Org$77,679--
Compensation and Service Providers
Top Officer Pay52nd 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
$909,329
Investment Income
$4,088
Other Revenue
$16,228
Change in Net Assets
$-66,412

Audited Revenue Reconciliation

Revenue per Audited Statements
$958,545
Total Revenue per Audited Statements
$958,545
Total Revenue per Form 990
$958,545
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$900,295
Salaries, Compensation, and Employee Benefits$124,662
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$266,194--$266,194
Interest$187,152--$187,152
Fees for Services Management-$118,485-$118,485
Other Salaries and Wages$112,476--$112,476
Occupancy$91,794--$91,794
Insurance$44,495--$44,495
Other Expenses$25,292--$25,292
Payroll Taxes$12,186--$12,186
Fees for Services Legal-$7,536-$7,536
Fees for Services Accounting-$5,750-$5,750
Office Expenses$1,040--$1,040
Total Functional Expenses$893,186$131,771$0$1,024,957

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,024,957
Total Expenses per Audited Statements$1,024,957
Total Expenses per Form 990$1,024,957
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
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
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
FALMOUTH HOUSING CORP 704 MAIN ST, FALMOUTH, MA 02540

Signing Officer

Name
Linda Clark
Title
President
Phone
5085404009
Signed
2020-03-23
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
0

Preparer

Firm
Sanders Walsh & Eaton Cpas LLC
Address
PO BOX F, OSTERVILLE, MA 02655
Preparer
Joseph F Mcgee CPA
Phone
5084280790
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Educate, stimulate, research and provide affordable housing”

Raw XML Appendix342 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/ExplanationTxt0EDUCATE, STIMULATE, RESEARCH AND PROVIDE AFFORDABLE HOUSING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2THE BOARD MEMBERS MEET ON AN ANNUAL BASIS TO DISCUSS THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION PROCESS FOR TOP OFFICIAL- INDEPENDENT BOARD MEMBERS REVIEWED AND APPROVED THE COMPENSATION OF THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INDEPENDENT BOARD MEMBERS REVIEWED AND APPROVED THE COMPENSATION OF THE KEY EMPLOYEES AND DOCUMENTED THE PROCESS IN MINUTES OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA CLARK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05085404009
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-23
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ReturnHeader/Filer/USAddress/AddressLine1Txt0FALMOUTH HOUSING CORP 704 MAIN ST
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ReturnHeader/FilingSecurityInformation/IPDt02020-05-29
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ReturnHeader/FilingSecurityInformation/IPTm012:19:12
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0841894608
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SANDERS WALSH & EATON CPAS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX F
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ReturnHeader/PreparerPersonGrp/PhoneNum05084280790
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH F MCGEE CPA
ReturnHeader/ReturnTs02020-05-29T12:19:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,833,300
Liabilities
$5,593,403
Net assets
-$760,103
Revenue
$958,545
Expenses
$1,024,957
Net income
-$66,412
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