Civic Intelligence

Credo Housing Development Corporation

990 • Fiscal year 2018 • EIN 22-2813920

Jan 01, 2018 to Dec 31, 2018 • Filed on May 13, 2019

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

65th percentile

0.11x

Higher debt load relative to assets than 65% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

86th percentile

0.57x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

62nd percentile

8.5%

Higher net margin than 62% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

61st percentile

$40,000

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 29.3% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

37th percentile

-2.1%

Faster asset growth than 37% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

13th percentile

-24%

Faster revenue growth than 13% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$714,092

Down $14,948 (-2.1%) from 2017

Net Assets

Up

$636,821

Up $11,648 (+1.9%) from 2017

Liabilities

Down

$77,271

Down $26,596 (-26%) from 2017

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin62nd percentile

Revenue

Down

$136,685

Down $43,389 (-24%) from 2017

Expenses

Down

$125,037

Down $13,570 (-9.8%) from 2017

Net Income

Down

$11,648

Down $29,819 (-72%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth37th 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

2018

Assets$714,092
Liabilities$77,271
Net Assets$636,821
Open 2018 Filing

Operations Trend

Revenue Growth13th 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

2018

Revenue$136,685
Expenses$125,037
Net Income$11,648
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 13, 2019
Return Version
2018v3.1
Gross Receipts
$136,685
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$667,772$644,696▼ $23,076
Cash and Non-Interest-Bearing Accounts$61,268$60,057▼ $1,211
Loans From Officers Directors$38,559$32,559▼ $6,000
Pledges and Grants Receivable$0$8,889▲ $8,889
Prepaid Expenses and Deferred Charges$0$450▲ $450
Total Assets$729,040$714,092▼ $14,948
Liabilities
Mortgage Notes Payable Secured by Investment Property$63,028$44,712▼ $18,316
Other Liabilities$2,230$0▼ $2,230
Escrow Account Liability$50$0▼ $50
Total Liabilities$103,867$77,271▼ $26,596
Net Assets / Fund Balance
Unrestricted Net Assets$625,173$636,821▲ $11,648
Total Net Assets Fund Balance$625,173$636,821▲ $11,648
Total Liabilities and Net Assets / Fund Balance$729,040$714,092▼ $14,948

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$613,935$265,021$878,956
Land$29,000-$29,000
Other Land Buildings$1,761$3,258$5,019
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

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

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$70,878
Program Service Revenue
$65,807
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$11,648
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$82,093
Salaries, Compensation, and Employee Benefits$42,944
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$23,076--$23,076
Fees for Services Other$7,400--$7,400
Other Expenses$5,718--$5,718
Office Expenses$2,105$1,605-$3,710
Interest$3,695--$3,695
Insurance$3,395--$3,395
Payroll Taxes$1,472$1,472-$2,944
Fees for Services Accounting-$2,300-$2,300
All Other Expenses$2,153--$2,153
Fees for Services Legal-$600-$600
Advertising-$150-$150
Total Functional Expenses$98,910$26,127$0$125,037
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$38,559$32,559▼ $6,000
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, Part VI, Section B, line 11B

“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 amended return will be filed. It is then kept on file in the office for public inspection.”

Form 990, Part VI, Section C, 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
Mr Robert Dorr
Title
Executive Director
Phone
2034377960
Signed
2019-05-13

Organization Details

Principal Officer
Mr Robert Dorr
Formed
1987
Legal Domicile
Ct
Voting Board Members
8
Independent Board Members
8
Employees
1
Volunteers
12

Preparer

Firm
Charles Heaven & Co
Address
207-231 Bank Street, Waterbury, CT 06702
Preparer
Enrico Melaragno CPA
Phone
2037534101
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IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt0712553
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0136685
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0180074
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0126440
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0126555
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0142799
IRS990ScheduleA/Total509Grp/TotalAmt0712553
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0136685
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0180074
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0126440
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0126555
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0142799
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0712553
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0613935
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0265021
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0878956
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd00
IRS990ScheduleD/LandGrp/BookValueAmt029000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt029000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01761
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03258
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05019
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0644696
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0CREDO HOUSING DEVELOPMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0EXECUTIVE DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SELL OF REAL ESTATE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt032559
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0ROBERT DORR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0SUPPORT MISSION/MORTGAGE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt059279
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0EXECUTIVE DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
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 - ADDITIONAL INFORMATION
IRS990ScheduleL/TotalBalanceDueAmt032559
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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 AMENDED 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, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0729040
IRS990/TotalAssetsEOYAmt0714092
IRS990/TotalAssetsGrp/BOYAmt0729040
IRS990/TotalAssetsGrp/EOYAmt0714092
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt070878
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026127
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt098910
IRS990/TotalFunctionalExpensesGrp/TotalAmt0125037
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0103867
IRS990/TotalLiabilitiesEOYAmt077271
IRS990/TotalLiabilitiesGrp/BOYAmt0103867
IRS990/TotalLiabilitiesGrp/EOYAmt077271
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0625173
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0636821
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt098910
IRS990/TotalProgramServiceRevenueAmt065807
IRS990/TotalReportableCompFromOrgAmt040000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt065807
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0136685
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0729040
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0714092
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0625173
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0636821
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01569 THOMASTON AVE
IRS990/USAddress/CityNm0WATERBURY
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006704
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MR ROBERT DORR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02034377960
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-13
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/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A2FD9F7DA4D2E9359DA789D7444B5B8D088B76DB
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.9.76.173
ReturnHeader/FilingSecurityInformation/IPDt02019-05-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:50:51
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0060666222

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$714,092
Liabilities
$77,271
Net assets
$636,821
Revenue
$136,685
Expenses
$125,037
Net income
$11,648
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
2018Detailed filing. Detailed filing data is available for this year.$7.14$0.77$6.37$1.37$1.25$0.12
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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