Civic Intelligence

Rivertown Housing Development Fund Company Inc.

990 • Fiscal year 2022 • EIN 22-2767974

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 09, 2023

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

88th percentile

1.70x

Higher debt load relative to assets than 88% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

79th percentile

7.41x

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

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Net Margin

40th percentile

-14%

Higher net margin than 40% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Asset Growth

94th percentile

54%

Faster asset growth than 94% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

60th percentile

3.6%

Faster revenue growth than 60% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$1,646,525

Up $575,819 (+54%) from 2021

Net Assets

Down

-$1,160,051

Down $52,703 (-4.8%) from 2021

Liabilities

Up

$2,806,576

Up $628,522 (+29%) from 2021

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin40th percentile

Revenue

Up

$378,983

Up $13,089 (+3.6%) from 2021

Expenses

Up

$431,686

Up $18,504 (+4.5%) from 2021

Net Income

Down

-$52,703

Down $5,415 (-11%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth94th 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

2022

Assets$1,646,525
Liabilities$2,806,576
Net Assets-$1,160,051
Open 2022 Filing

Operations Trend

Revenue Growth60th 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

2022

Revenue$378,983
Expenses$431,686
Net Income-$52,703
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 9, 2023
Return Version
2022v5.0
Gross Receipts
$378,983
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$786,363$1,370,553▲ $584,190
Savings and Temporary Cash Investments$192,899$186,268▼ $6,631
Cash and Non-Interest-Bearing Accounts$88,634$86,588▼ $2,046
Prepaid Expenses and Deferred Charges$2,810$3,116▲ $306
Total Assets$1,070,706$1,646,525▲ $575,819
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,128,693$2,754,257▲ $625,564
Accounts Payable and Accrued Expenses$36,184$39,142▲ $2,958
Deferred Revenue$13,177$13,177→ $0
Total Liabilities$2,178,054$2,806,576▲ $628,522
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,107,348$-1,160,051▼ $52,703
Total Net Assets Fund Balance$-1,107,348$-1,160,051▼ $52,703
Total Liabilities and Net Assets / Fund Balance$1,070,706$1,646,525▲ $575,819

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$490,483$1,699,020$2,189,503
Leasehold Improvements$157,743$664,950$822,693
Other Land Buildings$648,048-$648,048
Equipment$32,279$62,906$95,185
Land$42,000-$42,000
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Christian PfisterPresident
Ed BloomerTrustee/dire
Paul SalvinoTrustee/dire
Barbara IraciSecretary
Mary BrandowTreasurer
Richard GoldenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$165,546
Program Service Revenue
$152,562
Investment Income
$224
Other Revenue
$60,651
Change in Net Assets
$-52,703

Audited Revenue Reconciliation

Revenue per Audited Statements
$378,983
Total Revenue per Audited Statements
$378,983
Total Revenue per Form 990
$378,983
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$334,846
Salaries, Compensation, and Employee Benefits$96,840
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$99,032--$99,032
Current Officers, Directors, Trustees, and Key Employees$7,702$49,950-$57,652
Interest$53,086--$53,086
All Other Expenses$44,622--$44,622
Other Salaries and Wages$31,106--$31,106
Fees for Services Accounting-$20,259-$20,259
Insurance$18,179--$18,179
Other Expenses$15,889--$15,889
Payroll Taxes$4,148$3,934-$8,082
Office Expenses-$3,067-$3,067
Advertising$297--$297
Fees for Services Legal$124--$124
Total Functional Expenses$354,476$77,210$0$431,686

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$431,686
Total Expenses per Audited Statements$431,686
Total Expenses per Form 990$431,686
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
Christian Pfister
Title
President
Phone
5189451751
Signed
2023-11-09

Organization Details

Principal Officer
Christian Pfister
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

“Sewer 13,416 0 0 water 10,088 0 0 supplies 8,134 0 0 sanitation 5,655 0 0 building repairs 3,929 0 0 telephone 2,935 0 0 usda rural dev overage 270 0 0 training 195 0 0 total 44,622 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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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0183065
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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/ExplanationTxt4SEWER 13,416 0 0 WATER 10,088 0 0 SUPPLIES 8,134 0 0 SANITATION 5,655 0 0 BUILDING REPAIRS 3,929 0 0 TELEPHONE 2,935 0 0 USDA RURAL DEV OVERAGE 270 0 0 TRAINING 195 0 0 TOTAL 44,622 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
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IRS990/USAddress/CityNm0ATHENS
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012015
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IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.RIVERTOWNHOUSING.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRISTIAN PFISTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05189451751
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-09
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
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012015
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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/PreparationDt02023-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS FUCITO CPA
ReturnHeader/ReturnTs02023-11-09T09:05:19-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHRISTIAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PFISTER
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,646,525
Liabilities
$2,806,576
Net assets
-$1,160,051
Revenue
$378,983
Expenses
$431,686
Net income
-$52,703
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