Civic Intelligence

Rivertown Housing Development Fund Company Inc.

990 • Fiscal year 2019 • EIN 22-2767974

Jan 01, 2019 to Dec 31, 2019 • Filed on May 05, 2020

Organization ProfileWWW.RIVERTOWNHOUSING.ORG
19 Third StreetAthens, NY 12015

(518) 945-1751

Siviq Scores

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

Liabilities / Assets

94th percentile

1.97x

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

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

68th percentile

5.18x

Higher debt load relative to revenue than 68% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Net Margin

57th percentile

-0.7%

Higher net margin than 57% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2019 filings • NTEE L • $1M-$5M nonprofits • Source year 2019

Asset Growth

49th percentile

-2.4%

Faster asset growth than 49% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

54th percentile

3.0%

Faster revenue growth than 54% of similar nonprofits.

2019 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$1,069,155

Down $26,626 (-2.4%) from 2018

Net Assets

Down

-$1,032,917

Down $2,939 (-0.3%) from 2018

Liabilities

Down

$2,102,072

Down $23,687 (-1.1%) from 2018

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin57th percentile

Revenue

Up

$405,526

Up $11,884 (+3.0%) from 2018

Expenses

Down

$408,465

Down $19,700 (-4.6%) from 2018

Net Income

Up

-$2,939

Up $31,584 (+91%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2011: $1,366,667Liabilities 2011: $2,090,176Net Assets 2011: -$723,5092011Assets 2012: $1,392,493Liabilities 2012: $2,094,574Net Assets 2012: -$702,0812012Assets 2013: $1,408,022Liabilities 2013: $2,102,102Net Assets 2013: -$694,0802013Assets 2014: $1,356,477Liabilities 2014: $2,176,972Net Assets 2014: -$820,4952014Assets 2015: $1,292,117Liabilities 2015: $2,161,507Net Assets 2015: -$869,3902015Assets 2016: $1,214,671Liabilities 2016: $2,140,576Net Assets 2016: -$925,9052016Assets 2017: $1,153,032Liabilities 2017: $2,148,487Net Assets 2017: -$995,4552017Assets 2018: $1,095,781Liabilities 2018: $2,125,759Net Assets 2018: -$1,029,9782018Assets 2019: $1,069,155Liabilities 2019: $2,102,072Net Assets 2019: -$1,032,9172019Assets 2020: $1,017,388Liabilities 2020: $2,077,448Net Assets 2020: -$1,060,0602020Assets 2021: $1,070,706Liabilities 2021: $2,178,054Net Assets 2021: -$1,107,3482021Assets 2022: $1,646,525Liabilities 2022: $2,806,576Net Assets 2022: -$1,160,0512022Assets 2023: $1,763,264Liabilities 2023: $2,984,040Net Assets 2023: -$1,220,7762023Assets 2024: $1,868,427Liabilities 2024: $3,163,851Net Assets 2024: -$1,295,4242024

Highlighted filing

2019

Assets$1,069,155
Liabilities$2,102,072
Net Assets-$1,032,917
Open 2019 Filing

Operations Trend

Revenue Growth54th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $414,113Expenses 2011: $450,225Net Income 2011: -$36,1122011Expenses 2012: $420,3982012Revenue 2013: $460,779Expenses 2013: $452,397Net Income 2013: $8,3822013Revenue 2014: $415,093Expenses 2014: $541,508Net Income 2014: -$126,4152014Revenue 2015: $399,833Expenses 2015: $448,728Net Income 2015: -$48,8952015Revenue 2016: $397,280Expenses 2016: $453,794Net Income 2016: -$56,5142016Revenue 2017: $392,848Expenses 2017: $462,398Net Income 2017: -$69,5502017Revenue 2018: $393,642Expenses 2018: $428,165Net Income 2018: -$34,5232018Revenue 2019: $405,526Expenses 2019: $408,465Net Income 2019: -$2,9392019Revenue 2020: $376,862Expenses 2020: $408,450Net Income 2020: -$31,5882020Revenue 2021: $365,894Expenses 2021: $413,182Net Income 2021: -$47,2882021Revenue 2022: $378,983Expenses 2022: $431,686Net Income 2022: -$52,7032022Revenue 2023: $392,094Expenses 2023: $452,819Net Income 2023: -$60,7252023Revenue 2024: $410,206Expenses 2024: $484,854Net Income 2024: -$74,6482024

Highlighted filing

2019

Revenue$405,526
Expenses$408,465
Net Income-$2,939
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 5, 2020
Return Version
2019v5.0
Gross Receipts
$405,526
Mission and Program Overview

Mission

Low-income senior housing - to own, operate, and manage senior citizen apartment projects under fmha guidelines - 52 units.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$936,330$866,477▼ $69,853
Savings and Temporary Cash Investments$113,570$119,587▲ $6,017
Cash and Non-Interest-Bearing Accounts$38,301$76,330▲ $38,029
Prepaid Expenses and Deferred Charges$7,580$6,761▼ $819
Total Assets$1,095,781$1,069,155▼ $26,626
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,089,753$2,066,481▼ $23,272
Accounts Payable and Accrued Expenses$36,006$35,591▼ $415
Total Liabilities$2,125,759$2,102,072▼ $23,687
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,029,978$-1,032,917▼ $2,939
Total Net Assets Fund Balance$-1,029,978$-1,032,917▼ $2,939
Total Liabilities and Net Assets / Fund Balance$1,095,781$1,069,155▼ $26,626

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$654,695$1,534,808$2,189,503
Leasehold Improvements$161,122$569,296$730,418
Equipment$8,660$45,142$53,802
Land$42,000-$42,000
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Catherine HaeusslerPresident
Mary BrandowTrustee/dire
Paul SalvinoTrustee/dire
Richard GoldenTrustee/dire
Barbara IraciSecretary
Christian PfisterVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$205,778
Program Service Revenue
$161,458
Investment Income
$275
Other Revenue
$38,015
Change in Net Assets
$-2,939

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$30,145
Total Noncash Contributions1$30,145

Audited Revenue Reconciliation

Revenue per Audited Statements
$405,526
Total Revenue per Audited Statements
$405,526
Total Revenue per Form 990
$405,526
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$320,399
Salaries, Compensation, and Employee Benefits$88,066
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$92,736--$92,736
Interest$64,658--$64,658
Current Officers, Directors, Trustees, and Key Employees-$52,080-$52,080
All Other Expenses$43,834--$43,834
Other Salaries and Wages$28,306--$28,306
Fees for Services Accounting-$16,530-$16,530
Insurance$15,878--$15,878
Other Expenses$13,416--$13,416
Payroll Taxes$7,680--$7,680
Office Expenses-$3,153-$3,153
Fees for Services Legal$262--$262
Total Functional Expenses$336,702$71,763$0$408,465

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$408,465
Total Expenses per Audited Statements$408,465
Total Expenses per Form 990$408,465
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
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“A copy of the form and all appropriate schedules was sent to each board member for review and comment before filing.”

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

“The written conflict of interest policy is in accordance with usda rural development guidelines and is monitored accordingly.”

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

“Management salaries are calculated using formulas provided by usda rural development. In addition, formal budgets are approved by usda rural development.”

Form 990, Page 6, Part VI, Line 19

“The only activity of the organization is operation of usda rural development low-income housing. Accordingly, all governing documents and policies are published by usda and the organization directs the public to appropriate websites and/or offices. Financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Rivertown Housing Development Fund
EIN
22-2767974
Phone
5189451751
Address
19 THIRD STREET, ATHENS, NY 12015

Signing Officer

Name
Catherine Haeussler
Title
President
Phone
5189451751
Signed
2020-05-05

Organization Details

Principal Officer
Catherine Haeussler
Formed
1986
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
3

Preparer

Firm
Accounting Offices of Tom Fucito CPA Pc
Address
PO BOX 897, CAIRO, NY 12413-0897
Preparer
Thomas Fucito CPA
Phone
5186222844
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Electricity 10,685 0 0 water 10,088 0 0 building repairs 6,502 0 0 sanitation 5,956 0 0 supplies 5,603 0 0 telephone 3,332 0 0 usda rural dev overage 1,468 0 0 training 200 0 0 total 43,834 0 0”

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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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IRS990ScheduleD/EquipmentGrp/BookValueAmt08660
IRS990ScheduleD/EquipmentGrp/DepreciationAmt045142
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IRS990ScheduleD/ExpensesSubtotalAmt0408465
IRS990ScheduleD/LandGrp/BookValueAmt042000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt042000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0161122
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0569296
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IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0USDA INTEREST RATE REDUCTION SUBSIDY IN THE AMOUNT OF 32,864 WAS REPORTED ON FORM 990 PART VIII LINE 1G. THE CORRESPONDING INTEREST EXPENSE WAS INCLUDED IN THE 71,094 REPORTED ON FORM 990 PART IX LINE 20.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE M, PAGE 2, PART II
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM AND ALL APPROPRIATE SCHEDULES WAS SENT TO EACH BOARD MEMBER FOR REVIEW AND COMMENT BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE WRITTEN CONFLICT OF INTEREST POLICY IS IN ACCORDANCE WITH USDA RURAL DEVELOPMENT GUIDELINES AND IS MONITORED ACCORDINGLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT SALARIES ARE CALCULATED USING FORMULAS PROVIDED BY USDA RURAL DEVELOPMENT. IN ADDITION, FORMAL BUDGETS ARE APPROVED BY USDA RURAL DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ONLY ACTIVITY OF THE ORGANIZATION IS OPERATION OF USDA RURAL DEVELOPMENT LOW-INCOME HOUSING. ACCORDINGLY, ALL GOVERNING DOCUMENTS AND POLICIES ARE PUBLISHED BY USDA AND THE ORGANIZATION DIRECTS THE PUBLIC TO APPROPRIATE WEBSITES AND/OR OFFICES. FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ELECTRICITY 10,685 0 0 WATER 10,088 0 0 BUILDING REPAIRS 6,502 0 0 SANITATION 5,956 0 0 SUPPLIES 5,603 0 0 TELEPHONE 3,332 0 0 USDA RURAL DEV OVERAGE 1,468 0 0 TRAINING 200 0 0 TOTAL 43,834 0 0
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
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt071763
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0336702
IRS990/TotalFunctionalExpensesGrp/TotalAmt0408465
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02125759
IRS990/TotalLiabilitiesEOYAmt02102072
IRS990/TotalLiabilitiesGrp/BOYAmt02125759
IRS990/TotalLiabilitiesGrp/EOYAmt02102072
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0ATHENS
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IRS990/USAddress/ZIPCd012015
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.RIVERTOWNHOUSING.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CATHERINE HAEUSSLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05189451751
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RIVERTOWN HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CO INC
ReturnHeader/Filer/BusinessNameControlTxt0RIVE
ReturnHeader/Filer/EIN0222767974
ReturnHeader/Filer/PhoneNum05189451751
ReturnHeader/Filer/USAddress/AddressLine1Txt019 THIRD STREET
ReturnHeader/Filer/USAddress/CityNm0ATHENS
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.246.141.130
ReturnHeader/FilingSecurityInformation/IPDt02020-05-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm008:30:55
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0471943623
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ACCOUNTING OFFICES OF TOM FUCITO CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 897
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CAIRO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0124130897
ReturnHeader/PreparerPersonGrp/PhoneNum05186222844
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS FUCITO CPA
ReturnHeader/ReturnTs02020-05-26T08:30:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,069,155
Liabilities
$2,102,072
Net assets
-$1,032,917
Revenue
$405,526
Expenses
$408,465
Net income
-$2,939
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.87$3.16$1.30$0.41$0.48$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.76$2.98$1.22$0.39$0.45$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.65$2.81$1.16$0.38$0.43$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.07$2.18$1.11$0.37$0.41$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.02$2.08$1.06$0.38$0.41$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.07$2.10$1.03$0.41$0.41$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.10$2.13$1.03$0.39$0.43$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.15$2.15$1.00$0.39$0.46$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.21$2.14$0.93$0.40$0.45$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.29$2.16$0.87$0.40$0.45$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.36$2.18$0.82$0.42$0.54$0.13
2013Detailed filing. Detailed filing data is available for this year.$1.41$2.10$0.69$0.46$0.45$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$2.09$0.70$0.42
2011Summary only. Only limited summary data is available for this year.$1.37$2.09$0.72$0.41$0.45$0.04