Civic Intelligence

Somaltow Housing Company Inc.

990 • Fiscal year 2013 • EIN 23-7120738

Apr 01, 2012 to Mar 31, 2013 • Filed on Oct 30, 2013

Organization ProfileN/A
101 South Pearl Street12207
Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2013 filings • NTEE L • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2013

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

70th percentile

3.5%

Faster asset growth than 70% of similar nonprofits.

2013 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets4th percentile

Assets

Up

$18,402,958

Up $615,648 (+3.5%) from 2012

Net Assets

Up

$18,402,958

Up $615,648 (+3.5%) from 2012

Liabilities

Flat

$0

Flat from 2012

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$47,425

Up $10,843 (+30%) from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$30M$20M$10M$0Assets 2012: $17,787,310Liabilities 2012: $0Net Assets 2012: $17,787,3102012Assets 2013: $18,402,958Liabilities 2013: $0Net Assets 2013: $18,402,9582013Assets 2014: $19,077,590Liabilities 2014: $7,616Net Assets 2014: $19,069,9742014Assets 2015: $19,703,368Liabilities 2015: $0Net Assets 2015: $19,703,3682015Assets 2016: $20,233,707Liabilities 2016: $0Net Assets 2016: $20,233,7072016Assets 2017: $20,948,105Liabilities 2017: $0Net Assets 2017: $20,948,1052017Assets 2018: $21,619,472Liabilities 2018: $0Net Assets 2018: $21,619,4722018Assets 2019: $21,976,547Liabilities 2019: $5,687,446Net Assets 2019: $16,289,1012019Assets 2020: $21,217,142Liabilities 2020: $5,608,137Net Assets 2020: $15,609,0052020Assets 2021: $20,940,655Liabilities 2021: $5,910,461Net Assets 2021: $15,030,1942021Assets 2022: $18,904,526Liabilities 2022: $5,016,411Net Assets 2022: $13,888,1152022Assets 2023: $12,289,182Liabilities 2023: $0Net Assets 2023: $12,289,1822023Assets 2024: $11,897,812Liabilities 2024: $3,828Net Assets 2024: $11,893,9842024

Highlighted filing

2013

Assets$18,402,958
Liabilities$0
Net Assets$18,402,958
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $36,5822012Expenses 2013: $47,4252013Revenue 2014: $611,803Expenses 2014: $40,310Net Income 2014: $571,4932014Revenue 2015: $695,518Expenses 2015: $49,213Net Income 2015: $646,3052015Revenue 2016: $658,994Expenses 2016: $52,610Net Income 2016: $606,3842016Revenue 2017: $629,302Expenses 2017: $46,138Net Income 2017: $583,1642017Revenue 2018: $686,884Expenses 2018: $49,783Net Income 2018: $637,1012018Revenue 2019: $2,830,257Expenses 2019: $3,494,695Net Income 2019: -$664,4382019Revenue 2020: $2,769,244Expenses 2020: $3,612,202Net Income 2020: -$842,9582020Revenue 2021: $2,742,868Expenses 2021: $3,534,177Net Income 2021: -$791,3092021Revenue 2022: $3,136,255Expenses 2022: $3,839,404Net Income 2022: -$703,1492022Revenue 2023: $4,374,585Expenses 2023: $4,808,920Net Income 2023: -$434,3352023Revenue 2024: $4,552,312Expenses 2024: $5,069,990Net Income 2024: -$517,6782024

Highlighted filing

2013

Revenue-
Expenses$47,425
Net Income-
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2012 to Mar 31, 2013
Signed
Oct 30, 2013
Return Version
2012v2.0
Gross Receipts
$1,014,385
Mission and Program Overview

Mission

To provide housing and auxiliary facilities for aged persons of low income, and to this end to plan, acquire, construct, own, maintain and operate such housing and auxiliary facilities.

Filing and Contact Details

Filer

EIN
23-7120738
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0THE COMPANY ADOPTED FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE COMPANY HAS ANALYZED THE TAX POSITIONS TAKEN IN ITS FILINGS WITH THE INTERNAL REVENUE SERVICE AND STATE JURISDICTIONS WHERE IT OPERATES. THE COMPANY BELIEVES THAT ITS INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE AFFECT ON THE COMPANY'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE COMPANY HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT MARCH 31, 2013 AND 2012.THE COMPANY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE COMPANY BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO THE YEAR ENDED MARCH 31, 2010.
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IRS990ScheduleO/GeneralExplanation/Explanation0THE ENTIRE BOARD OF DIRECTORS UNDER THE LEADERSHIP OF THE BOARD TREASURER ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE COMPILATION OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/GeneralExplanation/Explanation1THE ORGANIZATION WAS NOT A PARTY TO A BUSINESS TRANSACTION WITH ANY OFFICER OR DIRECTOR, ETC. AS DEFINED BY PART IV ITEM 28.THE ORGANIZATION CURRENTLY ACTS AS THE MANAGER OF A 345-UNIT HOUSING COMPLEX FOR LOW INCOME SENIOR CITIZENS WHICH IS OWNED BY SOUTH MALL TOWERS ALBANY, L.P. VARIOUS OF THE OFFICERS OR DIRECTORS MAY HAVE BUSINESS TRANSACTIONS WITH SOUTH MALL TOWERS ALBANY, L.P. AS PER THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, ANY DIRECTOR OR OFFICER MUST DISCLOSE ANY CONFLICTS OF INTEREST AND ARE REQUIRED TO RECUSE THEMSELVES FROM ANY DECISION ON MATTERS IN WHICH THEY HAVE AN INTEREST.
IRS990ScheduleO/GeneralExplanation/Explanation2NET UNREALIZED GAINS OR LOSSES ON INVESTMENTS = $41362
IRS990ScheduleO/GeneralExplanation/Explanation3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation4All board members are required to respond to an annual questionaire regarding any conflicts of interest. Any noted conflicts are resolved in a timely manner. Copies of the questionaire are maintained by the organization. Any director or officer must disclose any conflicts of interest and are required to recuse themselves from any decision on matters in which they have an interest.
IRS990ScheduleO/GeneralExplanation/Explanation5A DRAFT COPY OF THE FORM 990 WAS SENT TO THE TREASURER FOR HIS REVIEW AND COMMENTS PRIOR TO A REVIEW BY THE OTHER BOARD MEMBERS. A DRAFT COPY OF THE FORM 990 WAS THEN PRESENTED TO THE OTHER BOARD MEMBERS FOR THEIR REVIEW AND COMMENTS AT A BOARD MEETING PRIOR TO FILING IT WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/GeneralExplanation/Explanation6Client Note 1 - PART VIII - STATEMENT OF REVENUELINE 11aACCRUED INTEREST EARNED ON PURCHASE MONEY MORTGAGE TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE. THESE EARNINGS WILL BE CONVERTED INTO PARTIAL CONSIDERATION FOR THE RE-PURCHASE OF A LOW INCOME HOUSING PROJECT PREVIOUSLY OWNED BY THE ORGANIZATION. THE ORGANIZATION HAS AN OPTION AND RIGHT OF FIRST REFUSAL TO RE-PURCHASE THE PROJECT UPON COMPLETION OF THE TAX CREDIT COMPLIANCE PERIOD. THE BOARD OF DIRECTOR'S INTENT TO RE-PURCHASE THE PROJECT WAS AFFIRMED IN 2003 AND WAS RE-AFFIRMED BY THE BOARD OF DIRECTORS ON OCTOBER 21, 2010. THE ORGANIZATION'S EXEMPT PURPOSE IS THE OPERATION AND MANAGEMENT OF A LOW INCOME HOUSING PROJECT FOR THE ELDERLY AND THE HANDICAPPED. AMOUNT EARNED FOR THE FISCAL YEAR ENDED MARCH 31, 2013 - $477,512.
IRS990ScheduleO/GeneralExplanation/Identifier0Form 990, Part XI, Line 9
IRS990ScheduleO/GeneralExplanation/Identifier1Form 990, Part VI, Line 19
IRS990ScheduleO/GeneralExplanation/Identifier2Form 990, Part VI, Line 12c
IRS990ScheduleO/GeneralExplanation/Identifier3Form 990, Part VI, Line 11b
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART XII, LINE 2C - RESPONSIBILITY FOR OVERSIGHT
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART IV, ITEM 28 - BUSINESS TRANSACTIONS
IRS990ScheduleO/GeneralExplanation/ReturnReference2Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990/ScheduleORequired0true
IRS990/School0false
IRS990/SignificantChange0false
IRS990/SignificantNewProgramServices0false
IRS990/StateLegalDomicile0NY
IRS990/StatesWhereCopyOfReturnIsFiled0NY
IRS990/SubjectToProxyTax0false
IRS990/TaxableDistributions0false
IRS990/TaxablePartyNotification0false
IRS990/TaxExemptBonds0false
IRS990/Terminated0false
IRS990/TermOrPermanentEndowments0false
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine10101 SOUTH PEARL STREET
IRS990/TheBooksAreInCareOf/AddressUS/City0ALBANY
IRS990/TheBooksAreInCareOf/AddressUS/State0NY

Document Assets

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Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$18,402,958
Liabilities
$0
Net assets
$18,402,958
Revenue
-
Expenses
$47,425
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.9$0.00$11.9$4.55$5.07$0.52
2023Detailed filing. Detailed filing data is available for this year.$12.3$0.00$12.3$4.37$4.81$0.43
2022Detailed filing. Detailed filing data is available for this year.$18.9$5.02$13.9$3.14$3.84$0.70
2021Detailed filing. Detailed filing data is available for this year.$20.9$5.91$15.0$2.74$3.53$0.79
2020Detailed filing. Detailed filing data is available for this year.$21.2$5.61$15.6$2.77$3.61$0.84
2019Detailed filing. Detailed filing data is available for this year.$22.0$5.69$16.3$2.83$3.49$0.66
2018Detailed filing. Detailed filing data is available for this year.$21.6$0.00$21.6$0.69$0.05$0.64
2017Detailed filing. Detailed filing data is available for this year.$20.9$0.00$20.9$0.63$0.05$0.58
2016Detailed filing. Detailed filing data is available for this year.$20.2$0.00$20.2$0.66$0.05$0.61
2015Detailed filing. Detailed filing data is available for this year.$19.7$0.00$19.7$0.70$0.05$0.65
2014Detailed filing. Detailed filing data is available for this year.$19.1$0.01$19.1$0.61$0.04$0.57
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.4$0.00$18.4$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.8$0.00$17.8$0.04