Civic Intelligence

Sullivan Mckinney Elder Housing Inc

EIN 22-2536262 • 501(c)3 • Fairfield, CT

Profile

To provide housing for the elderly and other eligible occupants under section 202 of the national housing act, and the regulations thereunder now in effect. It has leased, renovated, and operates an apartment complex of 40 units in fairfield, connecticut. The project is regulated by the department of housing and urban development (hud). As to rent charges and operating methods, the agency receives mortgage financing under section 202 and receives approximately 75% of its apartment rental income from section 8 subsidies provided by hud.

224 Meadowbrook RoadFairfield, CT 06824

ehmchm.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

93rd percentile

0.99x

Higher debt load relative to assets than 93% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

2.67x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

32nd percentile

-2.8%

Higher net margin than 32% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

18th percentile

-7.9%

Faster asset growth than 18% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

56th percentile

10%

Faster revenue growth than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$2,481,435

Down $211,509 (-7.9%) from 2023

Liabilities

Down

$2,449,587

Down $185,901 (-7.1%) from 2023

Net Assets

Down

$31,848

Down $25,608 (-45%) from 2023

Revenue

Up

$918,462

Up $86,612 (+10%) from 2023

Expenses

Up

$944,070

Up $73,978 (+8.5%) from 2023

Net Income

Up

-$25,608

Up $12,634 (+33%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $2,311,319Liabilities 2010: $2,073,508Net Assets 2010: $237,8112010Assets 2011: $3,831,662Liabilities 2011: $3,311,627Net Assets 2011: $520,0352011Assets 2012: $3,632,729Liabilities 2012: $3,161,953Net Assets 2012: $470,7762012Assets 2013: $3,683,821Liabilities 2013: $3,106,322Net Assets 2013: $577,4992013Assets 2014: $3,677,080Liabilities 2014: $3,065,840Net Assets 2014: $611,2402014Assets 2015: $3,561,078Liabilities 2015: $3,037,126Net Assets 2015: $523,9522015Assets 2016: $3,305,162Liabilities 2016: $2,895,720Net Assets 2016: $409,4422016Assets 2017: $3,281,734Liabilities 2017: $2,922,677Net Assets 2017: $359,0572017Assets 2018: $3,200,465Liabilities 2018: $2,880,826Net Assets 2018: $319,6392018Assets 2019: $3,098,804Liabilities 2019: $2,807,314Net Assets 2019: $291,4902019Assets 2020: $2,999,970Liabilities 2020: $2,768,099Net Assets 2020: $231,8712020Assets 2021: $2,856,993Liabilities 2021: $2,716,072Net Assets 2021: $140,9212021Assets 2022: $2,771,360Liabilities 2022: $2,675,662Net Assets 2022: $95,6982022Assets 2023: $2,692,944Liabilities 2023: $2,635,488Net Assets 2023: $57,4562023Assets 2024: $2,481,435Liabilities 2024: $2,449,587Net Assets 2024: $31,8482024

Highlighted filing

2024

Assets$2,481,435
Liabilities$2,449,587
Net Assets$31,848

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $703,9422010Expenses 2011: $776,4172011Expenses 2012: $758,2302012Revenue 2013: $865,134Expenses 2013: $758,411Net Income 2013: $106,7232013Revenue 2014: $794,965Expenses 2014: $761,224Net Income 2014: $33,7412014Revenue 2015: $734,214Expenses 2015: $821,502Net Income 2015: -$87,2882015Revenue 2016: $736,023Expenses 2016: $850,533Net Income 2016: -$114,5102016Revenue 2017: $749,077Expenses 2017: $799,462Net Income 2017: -$50,3852017Revenue 2018: $765,388Expenses 2018: $804,806Net Income 2018: -$39,4182018Revenue 2019: $773,758Expenses 2019: $801,907Net Income 2019: -$28,1492019Revenue 2020: $797,171Expenses 2020: $856,790Net Income 2020: -$59,6192020Revenue 2021: $806,925Expenses 2021: $897,875Net Income 2021: -$90,9502021Revenue 2022: $839,175Expenses 2022: $884,399Net Income 2022: -$45,2242022Revenue 2023: $831,850Expenses 2023: $870,092Net Income 2023: -$38,2422023Revenue 2024: $918,462Expenses 2024: $944,070Net Income 2024: -$25,6082024

Highlighted filing

2024

Revenue$918,462
Expenses$944,070
Net Income-$25,608

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.48$2.45$0.03$0.92$0.94$0.03
2023Detailed filing. Detailed filing data is available for this year.$2.69$2.64$0.06$0.83$0.87$0.04
2022Detailed filing. Detailed filing data is available for this year.$2.77$2.68$0.10$0.84$0.88$0.05
2021Detailed filing. Detailed filing data is available for this year.$2.86$2.72$0.14$0.81$0.90$0.09
2020Detailed filing. Detailed filing data is available for this year.$3.00$2.77$0.23$0.80$0.86$0.06
2019Detailed filing. Detailed filing data is available for this year.$3.10$2.81$0.29$0.77$0.80$0.03
2018Detailed filing. Detailed filing data is available for this year.$3.20$2.88$0.32$0.77$0.80$0.04
2017Detailed filing. Detailed filing data is available for this year.$3.28$2.92$0.36$0.75$0.80$0.05
2016Detailed filing. Detailed filing data is available for this year.$3.31$2.90$0.41$0.74$0.85$0.11
2015Detailed filing. Detailed filing data is available for this year.$3.56$3.04$0.52$0.73$0.82$0.09
2014Detailed filing. Detailed filing data is available for this year.$3.68$3.07$0.61$0.79$0.76$0.03
2013Detailed filing. Detailed filing data is available for this year.$3.68$3.11$0.58$0.87$0.76$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.63$3.16$0.47$0.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$3.31$0.52$0.78
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$2.07$0.24$0.70
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 16, 2025
Return Version
2024v5.0
Gross Receipts
$918,462
Mission and Program Overview

Mission

The agency's purpose is to lease, renovate and operate an apartment complex of 40 units in fairfield, connecticut. The agency is regulated by hud, receives mortgage financing under section 207, and receives 74% of its apartment rental income from section 8 subsidies provided by hud.

National housing act, and the regulations thereunder now in effect. It has leased, renovated, and operates an apartment complex of 40 units in fairfield, connecticut. The project is regulated by the department of housing and urban development (hud). As to rent charges and operating methods, the agency receives mortgage financing under section 202 and receives approximately 75% of its apartment rental income from section 8 subsidies provided by hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,823,364$1,633,726▼ $189,638
Savings and Temporary Cash Investments$587,312--
Cash and Non-Interest-Bearing Accounts$100,053$76,705▼ $23,348
Accounts Receivable$411$24,637▲ $24,226
Prepaid Expenses and Deferred Charges$1,686$3,169▲ $1,483
Total Assets$2,692,944$2,481,435▼ $211,509
Other Assets Total$180,118$743,198▲ $563,080
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,429,636$2,220,092▼ $209,544
Unsecured Notes Loans Payable$166,986$166,986→ $0
Accounts Payable and Accrued Expenses$23,703$46,924▲ $23,221
Other Liabilities$15,163$15,585▲ $422
Total Liabilities$2,635,488$2,449,587▼ $185,901
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$57,456$31,848▼ $25,608
Total Net Assets Fund Balance$57,456$31,848▼ $25,608
Total Liabilities and Net Assets / Fund Balance$2,692,944$2,481,435▼ $211,509

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,625,750$4,150,659$5,776,409
Equipment$1,681$49,421$51,102
Other Land Buildings$6,295$8,568$14,863
Other Assets Org$6,650--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Carolyn DurgyPresident
Connie M SaxlDirector
Patrice a KleinDirector
Theresa BrownDirector
David BeckerTreasurer
Kelly McdermottVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$656,258
Program Service Revenue
$261,722
Investment Income
$482
Other Revenue
$0
All Other Contributions
$656,258
Change in Net Assets
$-25,608

Audited Revenue Reconciliation

Revenue per Audited Statements
$918,462
Total Revenue per Audited Statements
$918,462
Total Revenue per Form 990
$918,462
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$788,018
Salaries, Compensation, and Employee Benefits$156,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$243,412$1,013-$244,425
Depreciation Depletion$215,730$2,136-$217,866
Other Salaries and Wages$112,435$23,192-$135,627
Fees for Services Management-$50,720-$50,720
Office Expenses-$28,698-$28,698
Fees for Services Accounting-$21,800-$21,800
Payroll Taxes$9,433$1,613-$11,046
Other Employee Benefits$8,010$1,369-$9,379
Insurance$3,301--$3,301
Conferences and Meetings-$2,438-$2,438
Advertising-$1,279-$1,279
Fees for Services Legal-$857-$857
Other Expenses$22$5,500-$22
Total Functional Expenses$803,455$140,615$0$944,070

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$944,070
Total Expenses per Audited Statements$944,070
Total Expenses per Form 990$944,070
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 Deposits$15,585
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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 corporation entered into an agreement with elderly housing management, inc. Of north haven, connecticut for the general management of the ongoing operation of the project. Under the agreement, the contractor will collect rents, disburse expenses and loan payments, provide required reporting to hud and to the corporation and provide management of the day-to-day operations of the project as required. Management fee totaled 48,337 for the year ended december 31, 2023.

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

The organization has its form 990 prepared by an outside accounting firm. A copy of the form 990 is provided to the board for review prior to filing with the internal revenue service.

Form 990, Page 6, Part VI, Line 19

The organization makes its form 1023 and form 990 available for public inspection as required under section 6104 of the internal revenue code. In addition, the governing documents, conflict of interest policy, and financial statements are also available upon request.

Filing and Contact Details

Filer

Filer Name
Sullivan Mckinney Elder
EIN
22-2536262
Phone
2032591991
Address
224 MEADOWBROOK ROAD, FAIRFIELD, CT 06824

Signing Officer

Name
David Becker
Title
Treasurer
Phone
2032591991
Signed
2025-06-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Becker
Formed
1984
Legal Domicile
Ct
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
6

Preparer

Firm
Maddox & Associates Apc
Address
5627 BANKERS AVE BLDG 2, BATON ROUGE, LA 70808-2610
Preparer
William B Beale
Phone
2259263360
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Is regulated by the department of housing and urban development (hud). As to rent charges and operating methods, the agency receives mortgage financing under section 202 and receives approximately 75% of its apartment rental income from section 8 subsidies provided by hud.

Form 990, Page 12, Part XII, Line 2C

The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an indepednent accountant, the process has not changed from the prior year.

Financial Statement Notes

Schedule D, Page 3, Part X

The corporation is exempt from federal and state income taxes under internal revenue code section 501(c)(3). Accordingly, no provision for income taxes has been made in the financial statements. The corporation has not been designated as a private foundation by the internal revenue service. The corporation recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Management believes that the corporation has no uncertain tax positions that would require financial statement recognition or disclosure. The corporation is no longer subject to examinations by the applicable taxing jurisdictions for years prior to december 31, 2019.

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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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 4,414
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04160627
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt01681
IRS990ScheduleD/EquipmentGrp/DepreciationAmt049421
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt152580
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt222980
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt315827
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt46650
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEBT REFINANCING SERVICE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4RESIDUAL RECEIPTS RESERVE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. THE CORPORATION HAS NOT BEEN DESIGNATED AS A PRIVATE FOUNDATION BY THE INTERNAL REVENUE SERVICE. THE CORPORATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT BELIEVES THAT THE CORPORATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE CORPORATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO DECEMBER 31, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IS REGULATED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). AS TO RENT CHARGES AND OPERATING METHODS, THE AGENCY RECEIVES MORTGAGE FINANCING UNDER SECTION 202 AND RECEIVES APPROXIMATELY 75% OF ITS APARTMENT RENTAL INCOME FROM SECTION 8 SUBSIDIES PROVIDED BY HUD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION ENTERED INTO AN AGREEMENT WITH ELDERLY HOUSING MANAGEMENT, INC. OF NORTH HAVEN, CONNECTICUT FOR THE GENERAL MANAGEMENT OF THE ONGOING OPERATION OF THE PROJECT. UNDER THE AGREEMENT, THE CONTRACTOR WILL COLLECT RENTS, DISBURSE EXPENSES AND LOAN PAYMENTS, PROVIDE REQUIRED REPORTING TO HUD AND TO THE CORPORATION AND PROVIDE MANAGEMENT OF THE DAY-TO-DAY OPERATIONS OF THE PROJECT AS REQUIRED. MANAGEMENT FEE TOTALED 48,337 FOR THE YEAR ENDED DECEMBER 31, 2023.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM. A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. IN ADDITION, THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPEDNENT ACCOUNTANT, THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 12, PART XII, LINE 2C
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID BECKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02032591991
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-06-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SULLIVAN MCKINNEY ELDER
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0HOUSING INC
ReturnHeader/Filer/BusinessNameControlTxt0SULL
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ReturnHeader/Filer/PhoneNum02032591991
ReturnHeader/Filer/USAddress/AddressLine1Txt0224 MEADOWBROOK ROAD
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