Civic Intelligence

Credo Housing Development Corporation

990 • Fiscal year 2023 • EIN 22-2813920

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 15, 2024

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

32nd percentile

0.00x

Higher debt load relative to assets than 32% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

33rd percentile

0.00x

Higher debt load relative to revenue than 33% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

15th percentile

-22%

Higher net margin than 15% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

64th percentile

$41,000

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 32.1% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

27th percentile

-4.6%

Faster asset growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

5th percentile

-58%

Faster revenue growth than 5% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$857,735

Down $40,933 (-4.6%) from 2022

Net Assets

Down

$857,683

Down $28,125 (-3.2%) from 2022

Liabilities

Down

$52

Down $12,808 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin15th percentile

Revenue

Down

$127,758

Down $172,891 (-58%) from 2022

Expenses

Up

$155,883

Up $13,968 (+9.8%) from 2022

Net Income

Down

-$28,125

Down $186,859 (-118%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth27th 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

2023

Assets$857,735
Liabilities$52
Net Assets$857,683
Open 2023 Filing

Operations Trend

Revenue Growth5th 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

2023

Revenue$127,758
Expenses$155,883
Net Income-$28,125
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 15, 2024
Return Version
2023v5.0
Gross Receipts
$191,142
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
Cash and Non-Interest-Bearing Accounts$423,884$450,521▲ $26,637
Land, Buildings, and Equipment, Net$474,334$407,214▼ $67,120
Prepaid Expenses and Deferred Charges$450--
Total Assets$898,668$857,735▼ $40,933
Liabilities
Accounts Payable and Accrued Expenses$12,860$52▼ $12,808
Total Liabilities$12,860$52▼ $12,808
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$885,808$857,683▼ $28,125
Total Net Assets Fund Balance$885,808$857,683▼ $28,125
Total Liabilities and Net Assets / Fund Balance$898,668$857,735▼ $40,933

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$401,878$225,903$627,781
Other Land Buildings$5,766$1,696$7,462
Equipment$-430$430-
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Robert DorrExecutive DiFT$41,000$41,000

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
$0
Program Service Revenue
$66,142
Investment Income
$61,616
Other Revenue
$0
Change in Net Assets
$-28,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$95,214
Salaries, Compensation, and Employee Benefits$44,419
Grants and Similar Amounts Paid$16,250
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$20,501$20,500-$41,001
Fees for Services Legal-$30,000-$30,000
Occupancy$25,134--$25,134
Grants to Domestic Orgs$16,250--$16,250
Depreciation Depletion$16,204--$16,204
Office Expenses$4,617$2,475-$7,092
Insurance$6,110--$6,110
Fees for Services Accounting-$5,100-$5,100
Payroll Taxes$1,709$1,709-$3,418
Fees for Services Other-$1,200-$1,200
Advertising$970--$970
Other Expenses$135--$135
Total Functional Expenses$94,899$60,984$0$155,883
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Basilica of the Immaculate ConceptiWaterbury, CT--$15,000
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
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
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

“The form 990 is distrubuted 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, Page 6, Part VI, Line 19

“The organization makes all documents and policies avaiable 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
2024-06-15

Organization Details

Principal Officer
Robert Dorr
Formed
1987
Legal Domicile
Ct
Voting Board Members
8
Independent Board Members
8
Employees
1
Volunteers
10

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/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0367090
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0134698
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0122180
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0786148
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0401878
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0225903
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0627781
IRS990ScheduleD/EquipmentGrp/BookValueAmt0-430
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0430
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05766
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01696
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt07462
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0407214
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt015000
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BASILICA OF THE IMMACULATE CONCEPTI
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt074 W MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WATERBURY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CT
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS DISTRUBUTED 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 AVAIABLE 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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0898668
IRS990/TotalAssetsEOYAmt0857735
IRS990/TotalAssetsGrp/BOYAmt0898668
IRS990/TotalAssetsGrp/EOYAmt0857735
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt060984
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt094899
IRS990/TotalFunctionalExpensesGrp/TotalAmt0155883
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012860
IRS990/TotalLiabilitiesEOYAmt052
IRS990/TotalLiabilitiesGrp/BOYAmt012860
IRS990/TotalLiabilitiesGrp/EOYAmt052
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0885808
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0857683
IRS990/TotalProgramServiceExpensesAmt094899
IRS990/TotalProgramServiceRevenueAmt066142
IRS990/TotalReportableCompFromOrgAmt041000
IRS990/TotalRevenueGrp/ExclusionAmt061616
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt066142
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0127758
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0898668
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0857735
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0WATERBURY
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006704
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT DORR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02034377960
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-06-15
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/IRSResponsiblePrtyInfoCurrInd0false
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/PreparationDt02024-07-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ENRICO MELARAGNO CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-07-24T10:32:56-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ROBERT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DORR
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$857,735
Liabilities
$52
Net assets
$857,683
Revenue
$127,758
Expenses
$155,883
Net income
-$28,125
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
2023Detailed filing. Detailed filing data is available for this year.$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
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