Civic Intelligence

Kamargo Housing Development Fund

990 • Fiscal year 2022 • EIN 22-2989698

Jan 01, 2022 to Dec 31, 2022 • Filed on May 10, 2023

Organization ProfileN/A
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

1.35x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

4.81x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

19th percentile

-14%

Higher net margin than 19% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

34th percentile

-3.8%

Faster asset growth than 34% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

44th percentile

3.3%

Faster revenue growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$683,545

Down $27,286 (-3.8%) from 2021

Net Assets

Down

-$239,457

Down $26,534 (-12%) from 2021

Liabilities

Down

$923,002

Down $752 (-0.1%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin19th percentile

Revenue

Up

$191,861

Up $6,123 (+3.3%) from 2021

Expenses

Up

$218,395

Up $4,632 (+2.2%) from 2021

Net Income

Up

-$26,534

Up $1,491 (+5.3%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

2022

Assets$683,545
Liabilities$923,002
Net Assets-$239,457
Open 2022 Filing

Operations Trend

Revenue Growth44th percentile

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

2022

Revenue$191,861
Expenses$218,395
Net Income-$26,534
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 10, 2023
Return Version
2022v5.0
Gross Receipts
$191,861
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$534,427$503,909▼ $30,518
Savings and Temporary Cash Investments$170,836$163,606▼ $7,230
Cash and Non-Interest-Bearing Accounts$1,233$12,559▲ $11,326
Prepaid Expenses and Deferred Charges$3,010$3,228▲ $218
Accounts Receivable$1,325$243▼ $1,082
Total Assets$710,831$683,545▼ $27,286
Liabilities
Mortgage Notes Payable Secured by Investment Property$900,849$884,882▼ $15,967
Accounts Payable and Accrued Expenses$14,035$29,307▲ $15,272
Other Liabilities$8,870$8,813▼ $57
Total Liabilities$923,754$923,002▼ $752
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-212,923$-239,457▼ $26,534
Total Net Assets Fund Balance$-212,923$-239,457▼ $26,534
Total Liabilities and Net Assets / Fund Balance$710,831$683,545▼ $27,286

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$492,256$792,533$1,284,789
Equipment$11,546$124,877$136,423
Leasehold Improvements$107$8,187$8,294
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Michael MontigelliPresident
Vinnie CesarioVice President
Heather SaskiMember
Lee ClearyMember
Mark WaterhouseSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$189,425
Investment Income
$152
Other Revenue
$2,284
Change in Net Assets
$-26,534

Audited Revenue Reconciliation

Revenue per Audited Statements
$191,861
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$191,861
Total Revenue per Form 990
$191,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$178,408
Salaries, Compensation, and Employee Benefits$39,987
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$43,393--$43,393
Depreciation Depletion$38,348$41-$38,389
Other Salaries and Wages$36,537--$36,537
Occupancy$35,761--$35,761
Fees for Services Management$5,743$5,743-$11,486
Insurance$9,624--$9,624
Fees for Services Accounting-$6,850-$6,850
Office Expenses-$5,805-$5,805
Other Expenses$4,482$1,378-$4,482
Payroll Taxes$2,697$753-$3,450
Advertising$264--$264
Total Functional Expenses$197,825$20,570$0$218,395

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$218,395
Total Expenses per Audited Statements$218,395
Total Expenses per Form 990$218,395
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$8,813
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
2023-05-10
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 Appendix393 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/OtherIncome170Grp/TotalAmt013372
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97260
IRS990ScheduleA/PublicSupportPY170Pct00.97370
IRS990ScheduleA/PublicSupportTotal170Amt0524292
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt097421
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt097074
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0104733
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0111992
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0113072
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0524292
IRS990ScheduleA/TotalSupportAmt0539082
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0492256
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0792533
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01284789
IRS990ScheduleD/EquipmentGrp/BookValueAmt011546
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0124877
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0136423
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0218395
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0107
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt08187
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt08294
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08813
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0191861
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0503909
IRS990ScheduleD/TotalExpensesPerForm990Amt0218395
IRS990ScheduleD/TotalLiabilityAmt08813
IRS990ScheduleD/TotalRevenuePerForm990Amt0191861
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0191861
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0218395
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/TotalAssetsBOYAmt0710831
IRS990/TotalAssetsEOYAmt0683545
IRS990/TotalAssetsGrp/BOYAmt0710831
IRS990/TotalAssetsGrp/EOYAmt0683545
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020570
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0197825
IRS990/TotalFunctionalExpensesGrp/TotalAmt0218395
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0923754
IRS990/TotalLiabilitiesEOYAmt0923002
IRS990/TotalLiabilitiesGrp/BOYAmt0923754
IRS990/TotalLiabilitiesGrp/EOYAmt0923002
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-212923
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-239457
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0197825
IRS990/TotalProgramServiceRevenueAmt0189425
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0152
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0191709
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0191861
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0710831
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0683545
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/SignatureDt02023-05-10
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/PreparationDt02023-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARIA SNYDER
ReturnHeader/ReturnTs02023-05-10T11:11:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MONTIGELLI
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$683,545
Liabilities
$923,002
Net assets
-$239,457
Revenue
$191,861
Expenses
$218,395
Net income
-$26,534
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