Civic Intelligence

Middletown Senior Citizens Housing Corporation C/O Prc Group

990 • Fiscal year 2016 • EIN 23-7262402

Apr 01, 2015 to Mar 31, 2016 • Filed on Feb 10, 2017

Organization ProfileN/A
40 Monmouth Park HighwayWest Long Branch, NJ 07764

(732) 222-2000

Siviq Scores

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

Liabilities / Assets

38th percentile

0.04x

Higher debt load relative to assets than 38% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

22nd percentile

0.01x

Higher debt load relative to revenue than 22% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

96th percentile

74%

Higher net margin than 96% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

1st percentile

-67%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

98th percentile

314%

Faster revenue growth than 98% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets38th percentile

Assets

Down

$517,442

Down $1,057,104 (-67%) from 2015

Net Assets

Up

$496,673

Up $1,208,524 (+170%) from 2015

Liabilities

Down

$20,769

Down $2,265,628 (-99%) from 2015

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin96th percentile

Revenue

Up

$1,766,058

Up $1,339,592 (+314%) from 2015

Expenses

Down

$460,344

Down $354,679 (-44%) from 2015

Net Income

Up

$1,305,714

Up $1,694,271 (+436%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2013: $2,029,017Liabilities 2013: $2,118,621Net Assets 2013: -$89,6042013Assets 2015: $1,574,546Liabilities 2015: $2,286,397Net Assets 2015: -$711,8512015Assets 2016: $517,442Liabilities 2016: $20,769Net Assets 2016: $496,6732016Assets 2017: $565,489Liabilities 2017: $140Net Assets 2017: $565,3492017

Highlighted filing

2016

Assets$517,442
Liabilities$20,769
Net Assets$496,673
Open 2016 Filing

Operations Trend

Revenue Growth98th percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2013: $823,7562013Revenue 2015: $426,466Expenses 2015: $815,023Net Income 2015: -$388,5572015Revenue 2016: $1,766,058Expenses 2016: $460,344Net Income 2016: $1,305,7142016Revenue 2017: $0Expenses 2017: $36,057Net Income 2017: -$36,0572017

Highlighted filing

2016

Revenue$1,766,058
Expenses$460,344
Net Income$1,305,714
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2015 to Mar 31, 2016
Signed
Feb 10, 2017
Return Version
2015v3.0
Gross Receipts
$2,157,886
Mission and Program Overview

Mission

Middletown senior citizens housing corporation is an independent entity that provides rental housing and related facilities and services for elderly and handicapped individuals on a non-profit basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$905,682$336,669▼ $569,013
Cash and Non-Interest-Bearing Accounts$85,142$180,773▲ $95,631
Land, Buildings, and Equipment, Net$174,955--
Intangible Assets$26,711--
Prepaid Expenses and Deferred Charges$2,674--
Total Assets$1,574,546$517,442▼ $1,057,104
Other Assets Total$379,382--
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,897,377--
Accounts Payable and Accrued Expenses$368,980$20,769▼ $348,211
Escrow Account Liability$20,040--
Total Liabilities$2,286,397$20,769▼ $2,265,628
Net Assets / Fund Balance
Unrestricted Net Assets$-971,539$334,175▲ $1,305,714
Temporarily Rstr Net Assets$259,688$162,498▼ $97,190
Total Net Assets Fund Balance$-711,851$496,673▲ $1,208,524
Total Liabilities and Net Assets / Fund Balance$1,574,546$517,442▼ $1,057,104
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Catherine R RogersPresident
Andrew BaneDirector
Ned HammondDirector
William BouwTreasurer
Carmen PetersonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$279,859
Investment Income
$1,376,348
Other Revenue
$109,851
Change in Net Assets
$1,305,714
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$384,441
Salaries, Compensation, and Employee Benefits$75,903
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$125,109--$125,109
Other Salaries and Wages$29,636$42,075-$71,711
Interest$42,481--$42,481
Insurance$38,761--$38,761
Fees for Services Legal-$26,836-$26,836
Depreciation Depletion$26,711--$26,711
Fees for Services Management-$25,138-$25,138
Office Expenses-$12,653-$12,653
Other Expenses$5,113--$5,113
Payroll Taxes$1,719$2,473-$4,192
Fees for Services Accounting-$2,170-$2,170
Fees for Services Other-$1,909-$1,909
Total Functional Expenses$347,090$113,254$0$460,344
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
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, Page 6, Part VI, Line 3

“Management company appointed by the board of directors oversees day to day operations and maintains financial information.”

Form 990, Page 6, Part VI, Line 9

“Catherine r. Rogers po box 212 port monmouth, nj 07758 carmen peterson 152 main street port monmouth, nj 07758 william bouw 138 michael dr. Red bank, nj 07701 andrew bane po box 41 leonardo, nj 07737 ned hammond 2 east point ct red bank, nj 07701”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is presented to the board for review. Any significant issues are discussed at board meetings.”

Form 990, Page 6, Part VI, Line 12C

“The organization's policy requires all officers, directors, or trustees and key employees to be cognizant of the policy and to address any potential issues at the monthly board meetings. The board also encourages open discussion with the organization's attorney.”

Form 990, Page 6, Part VI, Line 15B

“The organization hires a rental management company which acts as the chief executive officer reporting directly to the board of directors. In the state of new jersey, the compensation guidelines are established by new jersey housing & mortgage finance agency. The board of directors approve the compensation within the state limits. The board of directors also reviews and approves the salaries and related increases for office personnel.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflicts of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Middletown Senior Citizens Housing
EIN
23-7262402
Phone
7322222000
Address
40 MONMOUTH PARK HIGHWAY, WEST LONG BRANCH, NJ 07764

Signing Officer

Name
Catherine R Rogers
Title
President
Phone
7327878840
Signed
2017-02-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Catherine R Rogers
Formed
1971
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
5
Employees
3

Preparer

Firm
Cowan Gunteski & Co Pa
Address
730 HOPE ROAD, TINTON FALLS, NJ 07724
Preparer
Stephen Reed
Phone
7326764100
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 3

“Effective december 16, 2015, as part of a redevelopment project approved by the board of directors and new jersey housing and mortgage finance agency, the property was sold to bayshore village, llc.”

Form 990, Part XI, Line 9

“Benefit from r&r reserve -97,190 total -97,190”

Raw XML Appendix337 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EFFECTIVE DECEMBER 16, 2015, AS PART OF A REDEVELOPMENT PROJECT APPROVED BY THE BOARD OF DIRECTORS AND NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY, THE PROPERTY WAS SOLD TO BAYSHORE VILLAGE, LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT COMPANY APPOINTED BY THE BOARD OF DIRECTORS OVERSEES DAY TO DAY OPERATIONS AND MAINTAINS FINANCIAL INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CATHERINE R. ROGERS PO BOX 212 PORT MONMOUTH, NJ 07758 CARMEN PETERSON 152 MAIN STREET PORT MONMOUTH, NJ 07758 WILLIAM BOUW 138 MICHAEL DR. RED BANK, NJ 07701 ANDREW BANE PO BOX 41 LEONARDO, NJ 07737 NED HAMMOND 2 EAST POINT CT RED BANK, NJ 07701
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PRESENTED TO THE BOARD FOR REVIEW. ANY SIGNIFICANT ISSUES ARE DISCUSSED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S POLICY REQUIRES ALL OFFICERS, DIRECTORS, OR TRUSTEES AND KEY EMPLOYEES TO BE COGNIZANT OF THE POLICY AND TO ADDRESS ANY POTENTIAL ISSUES AT THE MONTHLY BOARD MEETINGS. THE BOARD ALSO ENCOURAGES OPEN DISCUSSION WITH THE ORGANIZATION'S ATTORNEY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION HIRES A RENTAL MANAGEMENT COMPANY WHICH ACTS AS THE CHIEF EXECUTIVE OFFICER REPORTING DIRECTLY TO THE BOARD OF DIRECTORS. IN THE STATE OF NEW JERSEY, THE COMPENSATION GUIDELINES ARE ESTABLISHED BY NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY. THE BOARD OF DIRECTORS APPROVE THE COMPENSATION WITHIN THE STATE LIMITS. THE BOARD OF DIRECTORS ALSO REVIEWS AND APPROVES THE SALARIES AND RELATED INCREASES FOR OFFICE PERSONNEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BENEFIT FROM R&R RESERVE -97,190 TOTAL -97,190
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0true
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0259688
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0162498
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01574546
IRS990/TotalAssetsEOYAmt0517442
IRS990/TotalAssetsGrp/BOYAmt01574546
IRS990/TotalAssetsGrp/EOYAmt0517442
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0113254
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0347090
IRS990/TotalFunctionalExpensesGrp/TotalAmt0460344
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02286397
IRS990/TotalLiabilitiesEOYAmt020769
IRS990/TotalLiabilitiesGrp/BOYAmt02286397
IRS990/TotalLiabilitiesGrp/EOYAmt020769
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-711851
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0496673
IRS990/TotalProgramServiceExpensesAmt0347090
IRS990/TotalProgramServiceRevenueAmt0279859
IRS990/TotalRevenueGrp/ExclusionAmt0826
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01765232
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01766058
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01574546
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0517442
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-971539
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0334175
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 212
IRS990/USAddress/CityNm0PORT MONMOUTH
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007758
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CATHERINE R ROGERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07327878840
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDDLETOWN SENIOR CITIZENS HOUSING
ReturnHeader/Filer/BusinessNameControlTxt0MIDD
ReturnHeader/Filer/EIN0237262402
ReturnHeader/Filer/PhoneNum07322222000
ReturnHeader/Filer/USAddress/AddressLine1Txt040 MONMOUTH PARK HIGHWAY
ReturnHeader/Filer/USAddress/CityNm0WEST LONG BRANCH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007764
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0222426149
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COWAN GUNTESKI & CO PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0730 HOPE ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TINTON FALLS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007724
ReturnHeader/PreparerPersonGrp/PhoneNum07326764100
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN REED
ReturnHeader/ReturnTs02017-02-15T11:48:52-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-04-01
ReturnHeader/TaxPeriodEndDt02016-03-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$517,442
Liabilities
$20,769
Net assets
$496,673
Revenue
$1,766,058
Expenses
$460,344
Net income
$1,305,714
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.00$0.57$0.00$0.04$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.52$0.02$0.50$1.77$0.46$1.31
2015Detailed filing. Detailed filing data is available for this year.$1.57$2.29$0.71$0.43$0.82$0.39
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.03$2.12$0.09$0.82