Civic Intelligence

Falconer Methodist Housing Development Fund Co Inc

990 • Fiscal year 2018 • EIN 22-2419049

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 16, 2019

Organization ProfileN/A
737 Falconer StreetJamestown, NY 14701

(716) 665-8197

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2018

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

96th percentile

72%

Higher net margin than 96% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

97th percentile

230%

Faster revenue growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $986,561 (-100%) from 2017

Net Assets

Up

$0

Up $334,834 (+100%) from 2017

Liabilities

Down

$0

Down $1,321,395 (-100%) from 2017

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin96th percentile

Revenue

Up

$1,025,040

Up $714,312 (+230%) from 2017

Expenses

Down

$290,865

Down $44,790 (-13%) from 2017

Net Income

Up

$734,175

Up $759,102 (+3045%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $1,127,113Liabilities 2011: $1,431,830Net Assets 2011: -$304,7172011Assets 2012: $1,169,086Liabilities 2012: $1,450,953Net Assets 2012: -$281,8672012Assets 2013: $1,092,122Liabilities 2013: $1,370,323Net Assets 2013: -$278,2012013Assets 2014: $1,080,856Liabilities 2014: $1,360,087Net Assets 2014: -$279,2312014Assets 2015: $1,055,390Liabilities 2015: $1,346,589Net Assets 2015: -$291,1992015Assets 2016: $1,020,598Liabilities 2016: $1,330,505Net Assets 2016: -$309,9072016Assets 2017: $986,561Liabilities 2017: $1,321,395Net Assets 2017: -$334,8342017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2018

Assets$0
Liabilities$0
Net Assets$0
Open 2018 Filing

Operations Trend

Revenue Growth97th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $305,650Expenses 2011: $289,273Net Income 2011: $16,3772011Expenses 2012: $283,3152012Revenue 2013: $300,877Expenses 2013: $297,211Net Income 2013: $3,6662013Revenue 2014: $301,236Expenses 2014: $302,266Net Income 2014: -$1,0302014Revenue 2015: $305,919Expenses 2015: $317,887Net Income 2015: -$11,9682015Revenue 2016: $314,432Expenses 2016: $333,140Net Income 2016: -$18,7082016Revenue 2017: $310,728Expenses 2017: $335,655Net Income 2017: -$24,9272017Revenue 2018: $1,025,040Expenses 2018: $290,865Net Income 2018: $734,1752018

Highlighted filing

2018

Revenue$1,025,040
Expenses$290,865
Net Income$734,175
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 16, 2019
Return Version
2018v3.1
Gross Receipts
$1,617,957
Mission and Program Overview

Mission

Hud subsidized housing for the elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$653,714--
Savings and Temporary Cash Investments$223,622--
Cash and Non-Interest-Bearing Accounts$15,385--
Accounts Receivable$1,724--
Total Assets$986,561$0▼ $986,561
Other Assets Total$92,116$0▼ $92,116
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,256,335--
Accounts Payable and Accrued Expenses$37,480--
Other Liabilities$27,580$0▼ $27,580
Total Liabilities$1,321,395$0▼ $1,321,395
Net Assets / Fund Balance
Unrestricted Net Assets$-334,834--
Total Net Assets Fund Balance$-334,834$0▲ $334,834
Total Liabilities and Net Assets / Fund Balance$986,561$0▼ $986,561

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$0--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Jon a SaffPresident
Ben MoreyDirector
Brenda WeilerDirector
Carol RawsonDirector
Howard JohnsonDirector
Jim GrahamDirector
Rev Heather Allport CohoonDirector
Shirley LeymanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$130,104
Program Service Revenue
$100,759
Investment Income
$794,177
Other Revenue
$0
Change in Net Assets
$734,175
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$290,865
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$63,897$0$0$63,897
Occupancy$55,880$0$0$55,880
Fees for Services Management$0$25,345$0$25,345
Fees for Services Legal$0$12,103$0$12,103
Fees for Services Other$11,345$0$0$11,345
Fees for Services Accounting$0$10,638$0$10,638
Insurance$8,582$0$0$8,582
Other Expenses$0$5,729$0$5,729
Office Expenses$0$4,428$0$4,428
Travel$1,543$0$0$1,543
Advertising$768$0$0$768
Conferences and Meetings$0$741$0$741
Total Functional Expenses$211,003$79,862$0$290,865
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 Deposits$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Falconer Methodist Housing Development Fund Co Inc
EIN
22-2419049
Phone
7166658197
Address
737 FALCONER STREET, JAMESTOWN, NY 14701

Signing Officer

Name
Jon a Saff
Title
President
Phone
7166658197
Signed
2019-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Saff
Formed
1982
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
James W Vanstrom & Company
Address
PO BOX 532, FALCONER, NY 14733-0532
Preparer
Harold L Brunacini CPA
Phone
7166613960
Supplemental Narrative

Additional Explanations

Pt VI, Line 3

“Effective 5/23/2002, the organization entered into an agreement with lutheran housing administrative services group, inc. To act as management agent for the project.”

Pt VI, Line 11B

“Form 990 is provided to each board member for their review, at least one week prior to filing.”

Pt VI, Line 12C

“Monitoring is performed on an ongoing basis, as well as annually with signed conflict of interest disclosures.”

Pt VI, Line 19

“The organization replies to requests on an as requested basis, subject to privacy laws and regulations.”

Pt XI

“SEE SUPPORTING SCHEDULE.”

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IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99900
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.99900
IRS990ScheduleA/PublicSupportTotal170Amt0906356
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0130104
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0196124
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0197871
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0194056
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0188201
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0906356
IRS990ScheduleA/TotalSupportAmt0907278
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt00
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt10
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFERRED FINANCING COSTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueOtherAssetsAmt00
IRS990ScheduleD/TotalLiabilityAmt00
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleN/DirectorOfSuccessor2Ind0false
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0HUD RESERVE FUNDS
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1REAL & PERSONAL PROP
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2RESIDUAL NET ASSETS
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3RESIDUAL NET ASSETS
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0HOUSING PRESERVATION INC
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1HOUSING PRESERVATION INC
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt2LSS FOUNDATION INC
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt3CHAUT REGION COMMUNITY FOUNDATION
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02018-08-31
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12018-08-31
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt22018-10-31
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt32018-12-05
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0562409519
IRS990ScheduleN/DispositionOfAssetsDetail/EIN1562409519
IRS990ScheduleN/DispositionOfAssetsDetail/EIN2311598005
IRS990ScheduleN/DispositionOfAssetsDetail/EIN3161116837
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0183890
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt11386965
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt240000
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt3175451
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501(c)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt1501(c)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt2501(c)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt3501(c)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt1APPRAISAL
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt2BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt3BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt06060 POPLAR AVE NO 425
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt16060 POPLAR AVE NO 425
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt2715 FALCONER STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt3418 SPRING STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0MEMPHIS
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm1MEMPHIS
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IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm3JAMESTOWN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0TN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd1TN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd2NY
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd3NY
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd038119
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd138119
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IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd314701
IRS990ScheduleN/EmployeeOfSuccessor2Ind0false
IRS990ScheduleN/OwnerOfSuccessor2Ind0false
IRS990ScheduleN/ReceiveCompensation2Ind0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EFFECTIVE 5/23/2002, THE ORGANIZATION ENTERED INTO AN AGREEMENT WITH LUTHERAN HOUSING ADMINISTRATIVE SERVICES GROUP, INC. TO ACT AS MANAGEMENT AGENT FOR THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO EACH BOARD MEMBER FOR THEIR REVIEW, AT LEAST ONE WEEK PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MONITORING IS PERFORMED ON AN ONGOING BASIS, AS WELL AS ANNUALLY WITH SIGNED CONFLICT OF INTEREST DISCLOSURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION REPLIES TO REQUESTS ON AN AS REQUESTED BASIS, SUBJECT TO PRIVACY LAWS AND REGULATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SEE SUPPORTING SCHEDULE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XI
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0986561
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0986561
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0130104
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt079862
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0211003
IRS990/TotalFunctionalExpensesGrp/TotalAmt0290865
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01321395
IRS990/TotalLiabilitiesEOYAmt00

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$1,025,040
Expenses
$290,865
Net income
$734,175
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.03$0.29$0.73
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$1.32$0.33$0.31$0.34$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.02$1.33$0.31$0.31$0.33$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.06$1.35$0.29$0.31$0.32$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.08$1.36$0.28$0.30$0.30$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.09$1.37$0.28$0.30$0.30$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$1.45$0.28$0.28
2011Summary only. Only limited summary data is available for this year.$1.13$1.43$0.30$0.31$0.29$0.02