Civic Intelligence

Credo Housing Development Corporation

990 • Fiscal year 2017 • EIN 22-2813920

Jan 01, 2017 to Dec 31, 2017 • Filed on May 14, 2018

Organization ProfileN/A
1569 Thomaston AveWaterbury, CT 06704

(203) 437-7960

Siviq Scores

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

Liabilities / Assets

67th percentile

0.14x

Higher debt load relative to assets than 67% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

0.58x

Higher debt load relative to revenue than 86% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

79th percentile

23%

Higher net margin than 79% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

61st percentile

$40,000

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 22.2% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

44th percentile

1.2%

Faster asset growth than 44% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

83rd percentile

42%

Faster revenue growth than 83% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$729,040

Up $8,598 (+1.2%) from 2016

Net Assets

Up

$625,173

Up $41,467 (+7.1%) from 2016

Liabilities

Down

$103,867

Down $32,869 (-24%) from 2016

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin79th percentile

Revenue

Up

$180,074

Up $53,634 (+42%) from 2016

Expenses

Up

$138,607

Up $6,923 (+5.3%) from 2016

Net Income

Up

$41,467

Up $46,711 (+891%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$1.0M$500K$0Assets 2010: $762,892Liabilities 2010: $198,731Net Assets 2010: $564,1612010Assets 2011: $738,942Liabilities 2011: $171,033Net Assets 2011: $567,9092011Assets 2012: $723,259Liabilities 2012: $155,502Net Assets 2012: $567,7572012Assets 2013: $704,212Liabilities 2013: $139,121Net Assets 2013: $565,0912013Assets 2014: $761,872Liabilities 2014: $179,164Net Assets 2014: $582,7082014Assets 2015: $742,890Liabilities 2015: $153,940Net Assets 2015: $588,9502015Assets 2016: $720,442Liabilities 2016: $136,736Net Assets 2016: $583,7062016Assets 2017: $729,040Liabilities 2017: $103,867Net Assets 2017: $625,1732017Assets 2018: $714,092Liabilities 2018: $77,271Net Assets 2018: $636,8212018Assets 2019: $735,748Liabilities 2019: $26,559Net Assets 2019: $709,1892019Assets 2020: $737,322Liabilities 2020: $20,559Net Assets 2020: $716,7632020Assets 2021: $744,633Liabilities 2021: $17,559Net Assets 2021: $727,0742021Assets 2022: $898,668Liabilities 2022: $12,860Net Assets 2022: $885,8082022Assets 2023: $857,735Liabilities 2023: $52Net Assets 2023: $857,6832023Assets 2024: $833,068Liabilities 2024: $10,768Net Assets 2024: $822,3002024

Highlighted filing

2017

Assets$729,040
Liabilities$103,867
Net Assets$625,173
Open 2017 Filing

Operations Trend

Revenue Growth83rd percentile

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

$400K$300K$200K$100K$0-$100KExpenses 2010: $133,1802010Expenses 2011: $132,0852011Expenses 2012: $135,9482012Revenue 2013: $108,277Expenses 2013: $122,943Net Income 2013: -$14,6662013Revenue 2014: $142,799Expenses 2014: $132,434Net Income 2014: $10,3652014Revenue 2015: $126,555Expenses 2015: $120,313Net Income 2015: $6,2422015Revenue 2016: $126,440Expenses 2016: $131,684Net Income 2016: -$5,2442016Revenue 2017: $180,074Expenses 2017: $138,607Net Income 2017: $41,4672017Revenue 2018: $136,685Expenses 2018: $125,037Net Income 2018: $11,6482018Revenue 2019: $202,180Expenses 2019: $129,819Net Income 2019: $72,3612019Revenue 2020: $134,698Expenses 2020: $127,124Net Income 2020: $7,5742020Revenue 2021: $136,885Expenses 2021: $126,574Net Income 2021: $10,3112021Revenue 2022: $300,649Expenses 2022: $141,915Net Income 2022: $158,7342022Revenue 2023: $127,758Expenses 2023: $155,883Net Income 2023: -$28,1252023Revenue 2024: $71,129Expenses 2024: $106,512Net Income 2024: -$35,3832024

Highlighted filing

2017

Revenue$180,074
Expenses$138,607
Net Income$41,467
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 14, 2018
Return Version
2017v2.3
Gross Receipts
$180,074
Mission and Program Overview

Mission

To address the critical shortage of decent, safe, and affordable housing for low-income households in waterbury.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$690,919$667,772▼ $23,147
Cash and Non-Interest-Bearing Accounts$29,523$61,268▲ $31,745
Loans From Officers Directors$44,559$38,559▼ $6,000
Total Assets$720,442$729,040▲ $8,598
Liabilities
Mortgage Notes Payable Secured by Investment Property$80,152$63,028▼ $17,124
Deferred Revenue$3,300--
Other Liabilities$8,675$2,230▼ $6,445
Escrow Account Liability$50$50→ $0
Total Liabilities$136,736$103,867▼ $32,869
Net Assets / Fund Balance
Unrestricted Net Assets$583,706$625,173▲ $41,467
Total Net Assets Fund Balance$583,706$625,173▲ $41,467
Total Liabilities and Net Assets / Fund Balance$720,442$729,040▲ $8,598

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$638,772$245,203$883,975
Land$29,000-$29,000
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Robert DorrExecutive DiFT$40,000$40,000

Board Members and Trustees

NameTitle
Andrew RodriguezPresident
Brenda WynkoopDirector
Charles WalkerDirector
Daniel PotterDirector
Elizabeth PetruccioneDirector
Mary WalkerDirector
Peter Jay HopsonDirector
Celia DavisSecretary
Jeannette MarchantTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$115,289
Program Service Revenue
$64,785
Investment Income
$0
Other Revenue
$0
All Other Contributions
$50,000
Change in Net Assets
$41,467
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$94,065
Salaries, Compensation, and Employee Benefits$44,542
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$20,000$20,000-$40,000
Depreciation Depletion$23,147--$23,147
Fees for Services Legal-$16,166-$16,166
Fees for Services Other$6,700--$6,700
Interest$4,887--$4,887
Payroll Taxes$2,271$2,271-$4,542
Other Expenses$4,512--$4,512
Insurance$3,214--$3,214
Fees for Services Accounting-$2,250-$2,250
All Other Expenses$1,855--$1,855
Office Expenses$838$838-$1,676
Advertising-$395-$395
Total Functional Expenses$96,687$41,920$0$138,607
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$44,559$38,559▼ $6,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll & Related Taxes$2,230
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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
No

Governance Explanations

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

“Form 990, part vi, section b, line 11: the form 990 is distributed to the board of directors at the annual meeting in june. At this time it is reviewed and all questions answered if warranted an amend return will be filed. It is then kept on file in the office for public inspection.”

Form 990, Page 6, Part VI, Line 19

“The organization makes all documents and policies available for inspection during regular business hours.”

Filing and Contact Details

Filer

Filer Name
Credo Housing Development Inc
EIN
22-2813920
Phone
2034377960
Address
1569 THOMASTON AVE, WATERBURY, CT 06704

Signing Officer

Name
Robert Dorr
Title
Executive Director
Phone
2034377960
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Dorr
Formed
1987
Legal Domicile
Ct
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
12

Preparer

Firm
CHARLES HEAVEN & CO CPA'S
Address
207 BANK ST, WATERBURY, CT 06702
Preparer
Enrico Melaragno CPA
Phone
2037534101
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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/GrossReceiptsAdmissionsGrp/TotalAmt0500237
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt0684145
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0180074
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0126440
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0126555
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0142799
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0108277
IRS990ScheduleA/Total509Grp/TotalAmt0684145
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0180074
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0126440
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0126555
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0142799
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0108277
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0684145
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt029000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt029000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0638772
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0245203
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0883975
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02230
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL & RELATED TAXES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0667772
IRS990ScheduleD/TotalLiabilityAmt02230
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0CREDO HOUSING DEVELOPMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0EXECUTIVE DIREC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SELL OF REAL ESTATE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt038559
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0SUPPORT MISSION / MORTGAGE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt059279
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0ROBERT DORR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0EXECUTIVE DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0ON SEPTEMBER 5,2014 ROBERT G. DORR SOLD HIS OWN PROPERTY TO CREDO HOUSING DEVELOPMENT CORPORATION, INC. AND IS THE MORTGAGE HOLDER.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990ScheduleL/TotalBalanceDueAmt038559
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, SECTION B, LINE 11: THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS AT THE ANNUAL MEETING IN JUNE. AT THIS TIME IT IS REVIEWED AND ALL QUESTIONS ANSWERED IF WARRANTED AN AMEND RETURN WILL BE FILED. IT IS THEN KEPT ON FILE IN THE OFFICE FOR PUBLIC INSPECTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ALL DOCUMENTS AND POLICIES AVAILABLE FOR INSPECTION DURING REGULAR BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0720442
IRS990/TotalAssetsEOYAmt0729040
IRS990/TotalAssetsGrp/BOYAmt0720442
IRS990/TotalAssetsGrp/EOYAmt0729040
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0115289
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt041920
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt096687
IRS990/TotalFunctionalExpensesGrp/TotalAmt0138607
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0136736
IRS990/TotalLiabilitiesEOYAmt0103867
IRS990/TotalLiabilitiesGrp/BOYAmt0136736
IRS990/TotalLiabilitiesGrp/EOYAmt0103867
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0583706
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0625173
IRS990/TotalProgramServiceExpensesAmt096687
IRS990/TotalProgramServiceRevenueAmt064785
IRS990/TotalReportableCompFromOrgAmt040000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt064785
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0180074
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0720442
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0729040
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0583706
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0625173
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT DORR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02034377960
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CREDO HOUSING DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0CRED
ReturnHeader/Filer/EIN0222813920
ReturnHeader/Filer/PhoneNum02034377960
ReturnHeader/Filer/USAddress/AddressLine1Txt01569 THOMASTON AVE
ReturnHeader/Filer/USAddress/CityNm0WATERBURY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006704
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FF0559AF860E13B8F241883455B4F44323847C26
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0E9122EDE49D1F0D623DF399B02345EE10144A74F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.9.76.173
ReturnHeader/FilingSecurityInformation/IPDt02018-05-22
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm008:47:20
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0060666222
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHARLES HEAVEN & CO CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0207 BANK ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WATERBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006702
ReturnHeader/PreparerPersonGrp/PhoneNum02037534101
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ENRICO MELARAGNO CPA
ReturnHeader/ReturnTs02018-05-22T09:47:20-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$729,040
Liabilities
$103,867
Net assets
$625,173
Revenue
$180,074
Expenses
$138,607
Net income
$41,467
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.33$0.11$8.22$0.71$1.07$0.35
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.58$0.00$8.58$1.28$1.56$0.28
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.99$0.13$8.86$3.01$1.42$1.59
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.45$0.18$7.27$1.37$1.27$0.10
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.37$0.21$7.17$1.35$1.27$0.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.36$0.27$7.09$2.02$1.30$0.72
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.14$0.77$6.37$1.37$1.25$0.12
2017Detailed filing. Detailed filing data is available for this year.$7.29$1.04$6.25$1.80$1.39$0.41
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.20$1.37$5.84$1.26$1.32$0.05
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.43$1.54$5.89$1.27$1.20$0.06
2014Detailed filing. Detailed filing data is available for this year.$7.62$1.79$5.83$1.43$1.32$0.10
2013Detailed filing. Detailed filing data is available for this year.$7.04$1.39$5.65$1.08$1.23$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.23$1.56$5.68$1.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.39$1.71$5.68$1.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.63$1.99$5.64$1.33