Civic Intelligence

Founders Court Corporation

990 • Fiscal year 2014 • EIN 22-3260199

Jul 01, 2013 to Jun 30, 2014 • Filed on Oct 28, 2014

Organization ProfileN/A
979 Falmouth Road02601

(508) 221-5364

Siviq Scores

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

Liabilities / Assets

75th percentile

0.44x

Higher debt load relative to assets than 75% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

87th percentile

1.44x

Higher debt load relative to revenue than 87% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

20th percentile

-10.0%

Higher net margin than 20% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2014

Asset Growth

52nd percentile

2.6%

Faster asset growth than 52% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$1,162,733

Up $29,581 (+2.6%) from 2013

Net Assets

Down

$653,363

Down $11,103 (-1.7%) from 2013

Liabilities

Up

$509,370

Up $40,684 (+8.7%) from 2013

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin20th percentile

Revenue

$352,824

No earlier filing loaded for comparison.

Expenses

Up

$387,967

Up $31,760 (+8.9%) from 2013

Net Income

-$35,143

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$1.5M$1.0M$500K$0Assets 2010: $1,152,641Liabilities 2010: $518,204Net Assets 2010: $634,4372010Assets 2011: $1,184,459Liabilities 2011: $502,352Net Assets 2011: $682,1072011Assets 2012: $1,162,048Liabilities 2012: $501,905Net Assets 2012: $660,1432012Assets 2013: $1,133,152Liabilities 2013: $468,686Net Assets 2013: $664,4662013Assets 2014: $1,162,733Liabilities 2014: $509,370Net Assets 2014: $653,3632014Assets 2015: $1,133,508Liabilities 2015: $457,226Net Assets 2015: $676,2822015Assets 2016: $1,100,502Liabilities 2016: $416,727Net Assets 2016: $683,7752016

Highlighted filing

2014

Assets$1,162,733
Liabilities$509,370
Net Assets$653,363
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$400K$200K$0-$200KExpenses 2010: $373,4592010Expenses 2011: $325,8792011Expenses 2012: $341,6812012Expenses 2013: $356,2072013Revenue 2014: $352,824Expenses 2014: $387,967Net Income 2014: -$35,1432014Revenue 2015: $376,148Expenses 2015: $340,670Net Income 2015: $35,4782015Revenue 2016: $385,505Expenses 2016: $374,254Net Income 2016: $11,2512016

Highlighted filing

2014

Revenue$352,824
Expenses$387,967
Net Income-$35,143
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Oct 28, 2014
Return Version
2013v3.0
Gross Receipts
$352,824
Mission and Program Overview

Mission

To provide affordable housing to low income families.

Operate a 32 unit affordable housing complex in hyannis, massachusetts

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$816,871$783,880▼ $32,991
Investments Other Securities$204,501$234,559▲ $30,058
Accounts Receivable$10,367$26,956▲ $16,589
Prepaid Expenses and Deferred Charges$11,510$15,822▲ $4,312
Savings and Temporary Cash Investments$7,555$12,312▲ $4,757
Cash and Non-Interest-Bearing Accounts$2--
Total Assets$1,133,152$1,162,733▲ $29,581
Other Assets Total$82,346$89,204▲ $6,858
Liabilities
Mortgage Notes Payable Secured by Investment Property$425,652$404,986▼ $20,666
Accounts Payable and Accrued Expenses$20,413$80,395▲ $59,982
Other Liabilities$22,621$23,989▲ $1,368
Total Liabilities$468,686$509,370▲ $40,684
Net Assets / Fund Balance
Unrestricted Net Assets$338,263$327,160▼ $11,103
Permanently Rstr Net Assets$326,203$326,203→ $0
Total Net Assets Fund Balance$664,466$653,363▼ $11,103
Total Liabilities and Net Assets / Fund Balance$1,133,152$1,162,733▲ $29,581

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$216,296--
Land$105,336--
Leasehold Improvements$462,248$707,479-
Other Assets Org$24,330--
Other Securities$234,559--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Laura ShufeltPresident/treasurer
Peter FreemanClerk
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$343,325
Investment Income
$9,499
Other Revenue
$0
Change in Net Assets
$-35,143

Audited Revenue Reconciliation

Revenue per Audited Statements
$352,824
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$24,040
Total Revenue per Audited Statements
$376,864
Total Revenue per Form 990
$352,824
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$377,530
Salaries, Compensation, and Employee Benefits$10,437
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$57,558--$57,558
Depreciation Depletion$51,393--$51,393
Fees for Services Management-$42,867-$42,867
Interest$30,618--$30,618
Fees for Services Accounting-$29,650-$29,650
Other Expenses$22,812--$22,812
Office Expenses-$12,615-$12,615
Fees for Services Legal-$9,136-$9,136
Payroll Taxes-$8,321-$8,321
Travel-$3,481-$3,481
Other Employee Benefits-$2,116-$2,116
Total Functional Expenses$279,781$108,186$0$387,967

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Total Expenses per Audited Statements$0
Total Expenses per 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$23,989
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
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, Part VI, Section A, Line 8A

“No written documentation was prepared at board meetings.”

Form 990, Part VI, Section A, Line 8B

“The organization does not use committees.”

Form 990, Part VI, Section B, Line 11

“The governing board reviews 990 tax returns at board meetings. Approval is given prior to filing.”

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

“Officers and directors must disclose in writing any possible violations of the organization's conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

EIN
22-3260199
Phone
5082215364

Signing Officer

Name
Laura Shufelt
Title
President/treasurer
Phone
5082215364
Signed
2014-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Shufelt
Formed
1994
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Preparer
Robert M Jesson
Phone
6176983950
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Landscaping: program service expenses 14,461. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,461. Utilities: program service expenses 10,903. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,903. Resident services: program service expenses 9,735. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,735. Trash removal: program service expenses 8,014. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,014. Snow removal: program service expenses 5,425. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,425. Telephone expenses: program service expenses 3,779. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,779. Security: program service expenses 3,585. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,585. Amortization: program service expenses 856. Management and general expenses 0. Fundraising expenses 0. Total expenses 856. Exterminating: program service expenses 800. Management and general expenses 0. Fundraising expenses 0. Total expenses 800.”

Part XI-line 2C

“SAME AS IN PRIOR YEARS”

Financial Statement Notes

PART X, LINE 2:

“The organization is a public charity exempt from federal income tax under section 501(c)(3) of the internal revenue code.the organization does not believe it has done anything to jeopardize its tax-exempt status at either the state or federal level.the organization reports its activities to the irs in an annual information return.the filings are subject to review by the taxing authorities and the federal income tax returns for the years 2013,2012 and 2011 are subject to examination by the irs, generally for three years after they are filed.”

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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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IRS990ScheduleD/RevenueSubtotalAmt0352824
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A PUBLIC CHARITY EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.THE ORGANIZATION DOES NOT BELIEVE IT HAS DONE ANYTHING TO JEOPARDIZE ITS TAX-EXEMPT STATUS AT EITHER THE STATE OR FEDERAL LEVEL.THE ORGANIZATION REPORTS ITS ACTIVITIES TO THE IRS IN AN ANNUAL INFORMATION RETURN.THE FILINGS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES AND THE FEDERAL INCOME TAX RETURNS FOR THE YEARS 2013,2012 AND 2011 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0783880
IRS990ScheduleD/TotalBookValueOtherAssetsAmt089204
IRS990ScheduleD/TotalBookValueSecuritiesAmt0234559
IRS990ScheduleD/TotalExpensesPerForm990Amt00
IRS990ScheduleD/TotalLiabilityAmt023989
IRS990ScheduleD/TotalRevenuePerForm990Amt0352824
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0376864
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO WRITTEN DOCUMENTATION WAS PREPARED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT USE COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING BOARD REVIEWS 990 TAX RETURNS AT BOARD MEETINGS. APPROVAL IS GIVEN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICERS AND DIRECTORS MUST DISCLOSE IN WRITING ANY POSSIBLE VIOLATIONS OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5LANDSCAPING: PROGRAM SERVICE EXPENSES 14,461. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,461. UTILITIES: PROGRAM SERVICE EXPENSES 10,903. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,903. RESIDENT SERVICES: PROGRAM SERVICE EXPENSES 9,735. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,735. TRASH REMOVAL: PROGRAM SERVICE EXPENSES 8,014. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,014. SNOW REMOVAL: PROGRAM SERVICE EXPENSES 5,425. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,425. TELEPHONE EXPENSES: PROGRAM SERVICE EXPENSES 3,779. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,779. SECURITY: PROGRAM SERVICE EXPENSES 3,585. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,585. AMORTIZATION: PROGRAM SERVICE EXPENSES 856. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 856. EXTERMINATING: PROGRAM SERVICE EXPENSES 800. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 800.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6SAME AS IN PRIOR YEARS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PART XI-LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01133152
IRS990/TotalAssetsEOYAmt01162733
IRS990/TotalAssetsGrp/BOYAmt01133152
IRS990/TotalAssetsGrp/EOYAmt01162733
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0108186
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0279781
IRS990/TotalFunctionalExpensesGrp/TotalAmt0387967
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0468686
IRS990/TotalLiabilitiesEOYAmt0509370
IRS990/TotalLiabilitiesGrp/BOYAmt0468686
IRS990/TotalLiabilitiesGrp/EOYAmt0509370
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0664466
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0653363
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0279781
IRS990/TotalProgramServiceRevenueAmt0343325
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt09499
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0343325
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0352824
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01133152
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01162733
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03481
IRS990/TravelGrp/TotalAmt03481
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0338263
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0327160
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101696 OSTERVILLE ROAD
IRS990/USAddress/City0WEST BARNSTABLE
IRS990/USAddress/State0MA
IRS990/USAddress/ZIPCode002668
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LAURA SHUFELT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05082215364
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine10FOUNDERS COURT CORPORATION CO LAURA SHUFELT
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0223260199
ReturnHeader/Filer/PhoneNum05082215364
ReturnHeader/Filer/USAddress/AddressLine10979 FALMOUTH ROAD
ReturnHeader/Filer/USAddress/City0HYANNIS
ReturnHeader/Filer/USAddress/State0MA
ReturnHeader/Filer/USAddress/ZIPCode002601
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043442418
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10GOSULE BUTKUS & JESSON LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10480 ADAMS STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0MILTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode002186
ReturnHeader/PreparerPersonGrp/PhoneNum06176983950
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT M JESSON
ReturnHeader/ReturnTs02014-11-17T14:41:42-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,162,733
Liabilities
$509,370
Net assets
$653,363
Revenue
$352,824
Expenses
$387,967
Net income
-$35,143
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$1.10$0.42$0.68$0.39$0.37$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.13$0.46$0.68$0.38$0.34$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.16$0.51$0.65$0.35$0.39$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.13$0.47$0.66$0.36
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.50$0.66$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.50$0.68$0.33
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.52$0.63$0.37