Civic Intelligence

Kamargo Housing Development Fund

990 • Fiscal year 2023 • EIN 22-2989698

Jan 01, 2023 to Dec 31, 2023 • Filed on May 02, 2024

224 Leray StBlack River, NY 13612

(315) 773-6918

Siviq Scores

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

Liabilities / Assets

96th percentile

1.42x

Higher debt load relative to assets than 96% of similar nonprofits.

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

Liabilities / Revenue

97th percentile

4.69x

Higher debt load relative to revenue than 97% of similar nonprofits.

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

Net Margin

22nd percentile

-13%

Higher net margin than 22% of similar nonprofits.

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

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

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

Asset Growth

22nd percentile

-7.2%

Faster asset growth than 22% of similar nonprofits.

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

Revenue Growth

37th percentile

-0.1%

Faster revenue growth than 37% of similar nonprofits.

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

Assets

Down

$634,583

Down $48,962 (-7.2%) from 2022

Net Assets

Down

-$263,651

Down $24,194 (-10%) from 2022

Liabilities

Down

$898,234

Down $24,768 (-2.7%) from 2022

Revenue

Down

$191,599

Down $262 (-0.1%) from 2022

Expenses

Down

$215,793

Down $2,602 (-1.2%) from 2022

Net Income

Up

-$24,194

Up $2,340 (+8.8%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2010: $678,712Liabilities 2010: $895,751Net Assets 2010: -$217,0392010Assets 2011: $652,981Liabilities 2011: $880,933Net Assets 2011: -$227,9522011Assets 2012: $638,843Liabilities 2012: $861,199Net Assets 2012: -$222,3562012Assets 2013: $630,191Liabilities 2013: $840,421Net Assets 2013: -$210,2302013Assets 2014: $606,394Liabilities 2014: $821,335Net Assets 2014: -$214,9412014Assets 2015: $947,400Liabilities 2015: $1,134,104Net Assets 2015: -$186,7042015Assets 2016: $811,674Liabilities 2016: $984,900Net Assets 2016: -$173,2262016Assets 2017: $815,914Liabilities 2017: $980,535Net Assets 2017: -$164,6212017Assets 2018: $811,701Liabilities 2018: $974,049Net Assets 2018: -$162,3482018Assets 2019: $784,580Liabilities 2019: $951,739Net Assets 2019: -$167,1592019Assets 2020: $751,020Liabilities 2020: $935,918Net Assets 2020: -$184,8982020Assets 2021: $710,831Liabilities 2021: $923,754Net Assets 2021: -$212,9232021Assets 2022: $683,545Liabilities 2022: $923,002Net Assets 2022: -$239,4572022Assets 2023: $634,583Liabilities 2023: $898,234Net Assets 2023: -$263,6512023Assets 2024: $605,286Liabilities 2024: $871,599Net Assets 2024: -$266,3132024

Highlighted filing

2023

Assets$634,583
Liabilities$898,234
Net Assets-$263,651

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2010: $181,2612010Expenses 2011: $187,1112011Expenses 2012: $173,6452012Revenue 2013: $182,811Expenses 2013: $170,685Net Income 2013: $12,1262013Revenue 2014: $186,190Expenses 2014: $190,901Net Income 2014: -$4,7112014Revenue 2015: $191,612Expenses 2015: $163,375Net Income 2015: $28,2372015Revenue 2016: $196,917Expenses 2016: $183,439Net Income 2016: $13,4782016Revenue 2017: $191,214Expenses 2017: $182,609Net Income 2017: $8,6052017Revenue 2018: $195,593Expenses 2018: $193,320Net Income 2018: $2,2732018Revenue 2019: $201,201Expenses 2019: $206,012Net Income 2019: -$4,8112019Revenue 2020: $196,291Expenses 2020: $214,028Net Income 2020: -$17,7372020Revenue 2021: $185,738Expenses 2021: $213,763Net Income 2021: -$28,0252021Revenue 2022: $191,861Expenses 2022: $218,395Net Income 2022: -$26,5342022Revenue 2023: $191,599Expenses 2023: $215,793Net Income 2023: -$24,1942023Revenue 2024: $224,670Expenses 2024: $227,332Net Income 2024: -$2,6622024

Highlighted filing

2023

Revenue$191,599
Expenses$215,793
Net Income-$24,194
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 2, 2024
Return Version
2023v5.0
Gross Receipts
$191,599
Mission and Program Overview

Mission

Hud subsidized rental housing to elderly & mobility impaired individuals with low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$503,909$469,609▼ $34,300
Savings and Temporary Cash Investments$163,606$159,330▼ $4,276
Prepaid Expenses and Deferred Charges$3,228$3,705▲ $477
Cash and Non-Interest-Bearing Accounts$12,559$1,696▼ $10,863
Accounts Receivable$243$243→ $0
Total Assets$683,545$634,583▼ $48,962
Liabilities
Mortgage Notes Payable Secured by Investment Property$884,882$868,117▼ $16,765
Accounts Payable and Accrued Expenses$29,307$20,744▼ $8,563
Other Liabilities$8,813$9,373▲ $560
Total Liabilities$923,002$898,234▼ $24,768
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-239,457$-263,651▼ $24,194
Total Net Assets Fund Balance$-239,457$-263,651▼ $24,194
Total Liabilities and Net Assets / Fund Balance$683,545$634,583▼ $48,962

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$461,034$823,755$1,284,789
Equipment$8,529$127,894$136,423
Leasehold Improvements$46$8,248$8,294
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael MontigelliPresident
Vinnie CesarioVice President
Heather SaskiMember
Mandy ParkerMember
Mark WaterhouseSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$187,121
Investment Income
$360
Other Revenue
$4,118
Change in Net Assets
$-24,194

Audited Revenue Reconciliation

Revenue per Audited Statements
$191,599
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$191,599
Total Revenue per Form 990
$191,599
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$175,781
Salaries, Compensation, and Employee Benefits$40,012
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$42,591--$42,591
Other Salaries and Wages$36,592--$36,592
Depreciation Depletion$34,300--$34,300
Occupancy$28,370--$28,370
Fees for Services Management$5,742$5,742-$11,484
Insurance$11,128--$11,128
Fees for Services Accounting-$7,400-$7,400
Office Expenses-$6,102-$6,102
Other Expenses$4,390$6,087-$4,390
Payroll Taxes$2,667$753-$3,420
Advertising$374--$374
Total Functional Expenses$189,709$26,084$0$215,793

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$215,793
Total Expenses per Audited Statements$215,793
Total Expenses per Form 990$215,793
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$9,373
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Organization is managed by the clayton improvement association for a fee of 6% gross revenues.

Form 990, Part VI, Section B, Line 11B

The governing body reviews the form 990 for completeness and accuracy before it is filed.

Form 990, Part VI, Section B, Line 12C

Conflict of interest reviewed and signed off on by all members annually.

Form 990, Part VI, Section B, Line 15

Salaries, wages and compensation is reviewed at the appropriate level of management or board.

Form 990, Part VI, Section C, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Kamargo Housing Dev Fund Co Inc
EIN
22-2989698
Phone
3157736918
Address
224 LERAY ST, BLACK RIVER, NY 13612

Signing Officer

Name
Michael Montigelli
Title
President
Phone
3157736918
Signed
2024-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Montigelli
Formed
1993
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
3
Volunteers
0

Preparer

Firm
Dimarco Abiusi & Pascarella Cpas Pc
Address
4 CLINTON SQUARE - SUITE 104, SYRACUSE, NY 13202-1074
Preparer
Maria Snyder
Phone
3154756954
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The board of directors assumes responsibility for oversight of the audit.

Raw XML Appendix396 raw XML fields

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/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96740
IRS990ScheduleA/PublicSupportPY170Pct00.97260
IRS990ScheduleA/PublicSupportTotal170Amt0518142
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0106922
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt097421
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt097074
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0104733
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0111992
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0518142
IRS990ScheduleA/TotalSupportAmt0535592
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0461034
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0823755
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01284789
IRS990ScheduleD/EquipmentGrp/BookValueAmt08529
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0127894
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0136423
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0215793
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt046
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt08248
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt08294
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09373
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0191599
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0469609
IRS990ScheduleD/TotalExpensesPerForm990Amt0215793
IRS990ScheduleD/TotalLiabilityAmt09373
IRS990ScheduleD/TotalRevenuePerForm990Amt0191599
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0191599
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0215793
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION IS MANAGED BY THE CLAYTON IMPROVEMENT ASSOCIATION FOR A FEE OF 6% GROSS REVENUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY REVIEWS THE FORM 990 FOR COMPLETENESS AND ACCURACY BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICT OF INTEREST REVIEWED AND SIGNED OFF ON BY ALL MEMBERS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARIES, WAGES AND COMPENSATION IS REVIEWED AT THE APPROPRIATE LEVEL OF MANAGEMENT OR BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0683545
IRS990/TotalAssetsEOYAmt0634583
IRS990/TotalAssetsGrp/BOYAmt0683545
IRS990/TotalAssetsGrp/EOYAmt0634583
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026084
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0189709
IRS990/TotalFunctionalExpensesGrp/TotalAmt0215793
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0923002
IRS990/TotalLiabilitiesEOYAmt0898234
IRS990/TotalLiabilitiesGrp/BOYAmt0923002
IRS990/TotalLiabilitiesGrp/EOYAmt0898234
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-239457
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-263651
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0189709
IRS990/TotalProgramServiceRevenueAmt0187121
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0360
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0191239
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0191599
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0683545
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0634583
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0224 LERAY ST
IRS990/USAddress/CityNm0BLACK RIVER
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd013612
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL MONTIGELLI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03157736918
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KAMARGO HOUSING DEV FUND CO INC
ReturnHeader/Filer/BusinessNameControlTxt0KAMA
ReturnHeader/Filer/EIN0222989698
ReturnHeader/Filer/PhoneNum03157736918
ReturnHeader/Filer/USAddress/AddressLine1Txt0224 LERAY ST
ReturnHeader/Filer/USAddress/CityNm0BLACK RIVER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd013612
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0161427749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DIMARCO ABIUSI & PASCARELLA CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04 CLINTON SQUARE - SUITE 104
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SYRACUSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0132021074
ReturnHeader/PreparerPersonGrp/PhoneNum03154756954
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARIA SNYDER
ReturnHeader/ReturnTs02024-05-02T10:40:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MONTIGELLI
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.61$0.87$0.27$0.22$0.23$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.63$0.90$0.26$0.19$0.22$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.68$0.92$0.24$0.19$0.22$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.71$0.92$0.21$0.19$0.21$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.75$0.94$0.18$0.20$0.21$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.78$0.95$0.17$0.20$0.21$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.81$0.97$0.16$0.20$0.19$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.82$0.98$0.16$0.19$0.18$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.81$0.98$0.17$0.20$0.18$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.95$1.13$0.19$0.19$0.16$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.61$0.82$0.21$0.19$0.19$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.63$0.84$0.21$0.18$0.17$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.86$0.22$0.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.88$0.23$0.19
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.90$0.22$0.18