Civic Intelligence

Credo Housing Development Corporation

990 • Fiscal year 2019 • EIN 22-2813920

Jan 01, 2019 to Dec 31, 2019 • Filed on May 13, 2020

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

52nd percentile

0.04x

Higher debt load relative to assets than 52% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

71st percentile

0.13x

Higher debt load relative to revenue than 71% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

86th percentile

36%

Higher net margin than 86% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

62nd percentile

$40,000

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 19.8% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

50th percentile

3.0%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

85th percentile

48%

Faster revenue growth than 85% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$735,748

Up $21,656 (+3.0%) from 2018

Net Assets

Up

$709,189

Up $72,368 (+11%) from 2018

Liabilities

Down

$26,559

Down $50,712 (-66%) from 2018

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin86th percentile

Revenue

Up

$202,180

Up $65,495 (+48%) from 2018

Expenses

Up

$129,819

Up $4,782 (+3.8%) from 2018

Net Income

Up

$72,361

Up $60,713 (+521%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth50th 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

2019

Assets$735,748
Liabilities$26,559
Net Assets$709,189
Open 2019 Filing

Operations Trend

Revenue Growth85th 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

2019

Revenue$202,180
Expenses$129,819
Net Income$72,361
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 13, 2020
Return Version
2019v5.1
Gross Receipts
$202,180
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$644,696$627,650▼ $17,046
Cash and Non-Interest-Bearing Accounts$60,057$107,648▲ $47,591
Loans From Officers Directors$32,559$26,559▼ $6,000
Pledges and Grants Receivable$8,889$0▼ $8,889
Prepaid Expenses and Deferred Charges$450$450→ $0
Total Assets$714,092$735,748▲ $21,656
Liabilities
Mortgage Notes Payable Secured by Investment Property$44,712$0▼ $44,712
Total Liabilities$77,271$26,559▼ $50,712
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$636,821$709,189▲ $72,368
Total Net Assets Fund Balance$636,821$709,189▲ $72,368
Total Liabilities and Net Assets / Fund Balance$714,092$735,748▲ $21,656

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$591,792$289,153$880,945
Land$29,000-$29,000
Other Land Buildings$6,858$2,072$8,930
Compensation and Service Providers
Top Officer Pay62nd 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
$136,200
Program Service Revenue
$65,980
Investment Income
$0
Other Revenue
$0
All Other Contributions
$80,000
Change in Net Assets
$72,361
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$86,875
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$22,946--$22,946
Fees for Services Other$7,450--$7,450
Other Expenses$6,284--$6,284
Office Expenses$2,453$1,870-$4,323
All Other Expenses$4,085--$4,085
Insurance$3,898--$3,898
Payroll Taxes$1,472$1,472-$2,944
Interest$1,817--$1,817
Fees for Services Accounting-$1,800-$1,800
Fees for Services Legal-$600-$600
Advertising-$550-$550
Total Functional Expenses$103,527$26,292$0$129,819
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$32,559$26,559▼ $6,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
2020-05-13

Organization Details

Principal Officer
Mr Robert Dorr
Formed
1987
Legal Domicile
Ct
Voting Board Members
8
Independent Board Members
8
Employees
1
Volunteers
16

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/PublicSupportTotal509Amt0691934
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0122180
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0136685
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0180074
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0126440
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0126555
IRS990ScheduleA/Total509Grp/TotalAmt0691934
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0122180
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0136685
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0180074
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0126440
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0126555
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0691934
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0591792
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0289153
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0880945
IRS990ScheduleD/LandGrp/BookValueAmt029000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt029000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06858
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02072
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt08930
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0627650
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0CREDO HOUSING DEVELOPMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0EXECUTIVE DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SELL OF REAL ESTATE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt026559
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/TotalBalanceDueAmt026559
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/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0714092
IRS990/TotalAssetsEOYAmt0735748
IRS990/TotalAssetsGrp/BOYAmt0714092
IRS990/TotalAssetsGrp/EOYAmt0735748
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0136200
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026292
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0103527
IRS990/TotalFunctionalExpensesGrp/TotalAmt0129819
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt077271
IRS990/TotalLiabilitiesEOYAmt026559
IRS990/TotalLiabilitiesGrp/BOYAmt077271
IRS990/TotalLiabilitiesGrp/EOYAmt026559
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0636821
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0709189
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0103527
IRS990/TotalProgramServiceRevenueAmt065980
IRS990/TotalReportableCompFromOrgAmt040000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt065980
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0202180
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt016
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0714092
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0735748
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MR ROBERT DORR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02034377960
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-13
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

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$735,748
Liabilities
$26,559
Net assets
$709,189
Revenue
$202,180
Expenses
$129,819
Net income
$72,361
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
2019Detailed filing. Detailed filing data is available for this year.$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
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