Civic Intelligence

Grace Van Vorst Episcopal Housing

EIN 23-7098015 • 501(c)3

Profile

SUBSIDIZED HOUSING

PO Box 370908543

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.94x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

94th percentile

0.94x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

66th percentile

12%

Higher net margin than 66% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

43rd percentile

-7.4%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • <$500k 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 / Assets92nd percentile

Assets

Down

$488,404

Down $38,919 (-7.4%) from 2013

Liabilities

Down

$458,034

Down $96,603 (-17%) from 2013

Net Assets

Up

$30,370

Up $57,684 (+211%) from 2013

Operations
Liabilities / Revenue94th percentileNet Margin66th percentile

Revenue

$484,924

No earlier filing loaded for comparison.

Expenses

Up

$427,240

Up $42,001 (+11%) from 2013

Net Income

$57,684

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset Growth43rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0-$200KAssets 2013: $527,323Liabilities 2013: $554,637Net Assets 2013: -$27,3142013Assets 2014: $488,404Liabilities 2014: $458,034Net Assets 2014: $30,3702014

Highlighted filing

2014

Assets$488,404
Liabilities$458,034
Net Assets$30,370
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0Expenses 2013: $385,2392013Revenue 2014: $484,924Expenses 2014: $427,240Net Income 2014: $57,6842014

Highlighted filing

2014

Revenue$484,924
Expenses$427,240
Net Income$57,684
Open 2014 Filing

Filings

Most recent year

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

Open filing
Assets
$488,404
Liabilities
$458,034
Net assets
$30,370
Revenue
$484,924
Expenses
$427,240
Net income
$57,684
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$4.88$4.58$0.30$4.85$4.27$0.58
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.27$5.55$0.27$3.85
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 20, 2015
Return Version
2013v4.0
Gross Receipts
$484,924
Mission and Program Overview

Mission

SUBSIDIZED HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$261,694$263,691▲ $1,997
Accounts Receivable$16,930$11,546▼ $5,384
Prepaid Expenses and Deferred Charges$30,983$5,598▼ $25,385
Cash and Non-Interest-Bearing Accounts$5,269$2,185▼ $3,084
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$527,323$488,404▼ $38,919
Other Assets Total$212,447$205,384▼ $7,063
Liabilities
Mortgage Notes Payable Secured by Investment Property$365,796$304,661▼ $61,135
Accounts Payable and Accrued Expenses$169,183$132,016▼ $37,167
Other Liabilities$16,717$15,573▼ $1,144
Deferred Revenue$2,941$5,784▲ $2,843
Total Liabilities$554,637$458,034▼ $96,603
Net Assets / Fund Balance
Unrestricted Net Assets$-34,760$22,924▲ $57,684
Temporarily Rstr Net Assets$7,446$7,446→ $0
Total Net Assets Fund Balance$-27,314$30,370▲ $57,684
Total Liabilities and Net Assets / Fund Balance$527,323$488,404▼ $38,919

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$193,552$835,354$1,028,906
Land$68,066-$68,066
Equipment$2,073$46,698$48,771
Other Assets Org$15,573--
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Bret SchundlerPresident
Julie DaltonPresident
Arlene HamptonTrustee
Bayla KalstromTrustee
Claire GueretteTrustee
Denise Pruitt-grantTrustee
Jack PestanerTrustee
Edie HuntTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$484,850
Investment Income
$74
Other Revenue
$0
Change in Net Assets
$57,684

Audited Revenue Reconciliation

Revenue per Audited Statements
$484,924
Total Revenue per Audited Statements
$484,924
Total Revenue per Form 990
$484,924
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$357,202
Salaries, Compensation, and Employee Benefits$70,038
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$73,386--$73,386
Other Salaries and Wages$56,868--$56,868
Insurance$39,802--$39,802
All Other Expenses$31,182--$31,182
Fees for Services Management$24,589--$24,589
Fees for Services Accounting$14,750--$14,750
Other Expenses$13,587--$13,587
Other Employee Benefits$9,948--$9,948
Depreciation Depletion$8,803--$8,803
Interest$5,892--$5,892
Office Expenses$4,822--$4,822
Payroll Taxes$3,222--$3,222
Fees for Services Legal$549--$549
Total Functional Expenses$427,240$0$0$427,240

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$427,240
Total Expenses per Audited Statements$427,240
Total Expenses per Form 990$427,240
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$15,573
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed by controller and managing agent and then sent to board who reviews the return before it is filed.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All such conflicts, if they arise, are brought to the attention of the members of the board and resolved professionally.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

EIN
23-7098015
Phone
6099898500

Signing Officer

Name
Bret Schundler
Title
President
Signed
2015-01-20
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Nj
Voting Board Members
8
Independent Board Members
8
Employees
1

Preparer

Preparer
Michael J Baker CPA
Phone
6099519100
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Corporation is a not-for-profit corporation and is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been provided.The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Corporation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. An example of a tax position includes the tax-exempt status of the Corporation. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Corporation does not believe its financial statements include (or reflect) any uncertain tax positions. The Corporation had not timely filed its 2010 and 2009 tax returns; however the Corporation does not anticipate paying penalties and interest related to the late filing therefore no penalties and interest are reflected in the financial statements for the years ended June 30, 2014 and 2013. At June 30, 2014, the Corporations tax returns for the years 2014, 2013, 2012 and 2011 are within the statute of limitations for IRS audit.”

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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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IRS990/PYOtherExpensesAmt0330869
IRS990/PYProgramServiceRevenueAmt0435082
IRS990/PYRevenuesLessExpensesAmt049952
IRS990/PYSalariesCompEmpBnftPaidAmt054370
IRS990/PYTotalExpensesAmt0385239
IRS990/PYTotalRevenueAmt0435191
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IRS990ScheduleD/EquipmentGrp/BookValueAmt02073
IRS990ScheduleD/EquipmentGrp/DepreciationAmt046698
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt048771
IRS990ScheduleD/ExpensesSubtotalAmt0427240
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt068066
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0106050
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt136143
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt229728
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt317890
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt415573
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CASH - RESERVE FOR REPACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1CASH - RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2INSURANCE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3MORTGAGE ESCROW - FHA/MIP
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4REAL ESTATE TAX ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5TENANT SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015573
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0484924
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation is a not-for-profit corporation and is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been provided.The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Corporation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. An example of a tax position includes the tax-exempt status of the Corporation. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Corporation does not believe its financial statements include (or reflect) any uncertain tax positions. The Corporation had not timely filed its 2010 and 2009 tax returns; however the Corporation does not anticipate paying penalties and interest related to the late filing therefore no penalties and interest are reflected in the financial statements for the years ended June 30, 2014 and 2013. At June 30, 2014, the Corporations tax returns for the years 2014, 2013, 2012 and 2011 are within the statute of limitations for IRS audit.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0263691
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0205384
IRS990ScheduleD/TotalExpensesPerForm990Amt0427240
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY CONTROLLER AND MANAGING AGENT AND THEN SENT TO BOARD WHO REVIEWS THE RETURN BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL SUCH CONFLICTS, IF THEY ARISE, ARE BROUGHT TO THE ATTENTION OF THE MEMBERS OF THE BOARD AND RESOLVED PROFESSIONALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10GRACE CHURCH VAN VORST
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1039 ERIE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0JERSEY CITY
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IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990/TaxableDistributionsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0427240
IRS990/TotalGrossUBIAmt00
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IRS990/TotalProgramServiceRevenueAmt0484850
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0484924
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0484924

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