Civic Intelligence

Whatcoat Community Development Inc

990 • Fiscal year 2014 • EIN 23-7306094

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 16, 2015

Organization ProfileN/A
30 Bertrand DriveDover, DE 19904

(856) 988-5848

Siviq Scores

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

Liabilities / Assets

99th percentile

4.23x

Higher debt load relative to assets than 99% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

94th percentile

2.40x

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

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

29th percentile

-4.3%

Higher net margin than 29% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

7th percentile

-24%

Faster asset growth than 7% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

44th percentile

1.5%

Faster revenue growth than 44% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$408,211

Down $127,363 (-24%) from 2013

Net Assets

Down

-$1,316,973

Down $31,045 (-2.4%) from 2013

Liabilities

Down

$1,725,184

Down $96,318 (-5.3%) from 2013

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin29th percentile

Revenue

Up

$718,638

Up $10,816 (+1.5%) from 2013

Expenses

Up

$749,683

Up $115,024 (+18%) from 2013

Net Income

Down

-$31,045

Down $104,208 (-142%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MAssets 2011: $412,641Liabilities 2011: $1,890,029Net Assets 2011: -$1,477,3882011Assets 2012: $489,744Liabilities 2012: $1,848,835Net Assets 2012: -$1,359,0912012Assets 2013: $535,574Liabilities 2013: $1,821,502Net Assets 2013: -$1,285,9282013Assets 2014: $408,211Liabilities 2014: $1,725,184Net Assets 2014: -$1,316,9732014Assets 2015: $478,186Liabilities 2015: $1,761,124Net Assets 2015: -$1,282,9382015Assets 2016: $1,659,916Liabilities 2016: $94,421Net Assets 2016: $1,565,4952016

Highlighted filing

2014

Assets$408,211
Liabilities$1,725,184
Net Assets-$1,316,973
Open 2014 Filing

Operations Trend

Revenue Growth44th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $612,4792011Expenses 2012: $591,4062012Revenue 2013: $707,822Expenses 2013: $634,659Net Income 2013: $73,1632013Revenue 2014: $718,638Expenses 2014: $749,683Net Income 2014: -$31,0452014Revenue 2015: $709,103Expenses 2015: $675,068Net Income 2015: $34,0352015Revenue 2016: $3,243,860Expenses 2016: $395,427Net Income 2016: $2,848,4332016

Highlighted filing

2014

Revenue$718,638
Expenses$749,683
Net Income-$31,045
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$718,638
Mission and Program Overview

Mission

To provide affordable housing to low-income households.

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$56,840$59,023▲ $2,183
Land, Buildings, and Equipment, Net$50,005$47,598▼ $2,407
Cash and Non-Interest-Bearing Accounts$140,112$19,520▼ $120,592
Accounts Receivable$2,166$4,220▲ $2,054
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$535,574$408,211▼ $127,363
Other Assets Total$286,451$277,850▼ $8,601
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,369,847$1,369,847→ $0
Other Liabilities$292,677$276,022▼ $16,655
Accounts Payable and Accrued Expenses$158,978$79,315▼ $79,663
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,821,502$1,725,184▼ $96,318
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-1,285,928$-1,316,973▼ $31,045
Total Net Assets Fund Balance$-1,285,928$-1,316,973▼ $31,045
Total Liabilities and Net Assets / Fund Balance$535,574$408,211▼ $127,363

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,848$2,332,592$2,350,440
Land$29,750-$29,750
Other Land Buildings-$7,718$7,718
Other Assets Org$235,474--
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
William H HillPresident
Leo LecompteVice President
Harvey W RileyMember
Rudell PotterMember
Martha WilsonSecretary
Charles AdamsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
none---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$707,446
Investment Income
$1,483
Other Revenue
$9,709
Change in Net Assets
$-31,045

Audited Revenue Reconciliation

Revenue per Audited Statements
$718,638
Total Revenue per Audited Statements
$718,638
Total Revenue per Form 990
$718,638
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$591,539
Salaries, Compensation, and Employee Benefits$158,144
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$124,558--$124,558
Occupancy$118,220--$118,220
Fees for Services Management$76,798--$76,798
Insurance$49,045--$49,045
All Other Expenses$42,996--$42,996
Other Employee Benefits$23,675--$23,675
Office Expenses$19,598--$19,598
Fees for Services Accounting$7,020$12,500-$19,520
Interest$18,098--$18,098
Other Expenses$16,978$5,498-$16,978
Payroll Taxes$9,911--$9,911
Advertising$4,687--$4,687
Travel$3,495--$3,495
Depreciation Depletion$2,407--$2,407
Total Functional Expenses$731,685$17,998$0$749,683

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$749,683
Total Expenses per Audited Statements$749,683
Total Expenses per Form 990$749,683
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest - Flexible Su$246,175
Tenant Security Deposits$23,371
Rent Deferred Credits$6,476
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
No
Conflict-of-interest policy
No
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

“Governance the organization delegated control over management duties to a management agent acting pursuant to hud guidelines.”

Form 990, Part VI, Section B, Line 11A

“Governance a copy of the form 990 is reviewed by the board prior to its filing.”

Form 990, Part VI, Section C, Line 19

“Disclosure the organization makes its governing documents and financial statements available to the public upon request. The organization does not have a conflict of interest policy.”

Filing and Contact Details

Filer

Filer Name
Whatcoat Community Development Inc
EIN
23-7306094
In Care Of
% INTERSTATE REALTY MGMT CO I
Phone
8569885848
Address
30 BERTRAND DRIVE, DOVER, DE 19904

Signing Officer

Name
William H Hill
Title
CFO
Phone
2156365500
Signed
2015-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William H Hill
Formed
1982
Legal Domicile
De
Voting Board Members
6
Independent Board Members
6
Employees
4
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
1801 MARKET STREET SUITE 1700, PHILADELPHIA, PA 19103
Preparer
Marc R Berger CPA
Phone
2156365500
Supplemental Narrative

Financial Statement Notes

Part X, Line 2

“As of December 31, 2014, the Organization did not identify any uncertain tax positions taken or expected to be taken in an income tax return which would require adjustment to or disclosure in its financial statements. In addition, the Organization believes it has not engaged in any activities for which its tax-exempt status would not be sustained under Internal Revenue Service examination. Generally, the Organization is potentially subject to Federal income tax examinations for three years.”

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IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0717155
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01483
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01424
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0456
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0161
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0175
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03699
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0707446
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0688926
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0673273
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0666411
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0645352
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt03381408
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01483
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01424
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0456
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0161
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0175
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03699
IRS990ScheduleA/InvestmentIncomeCYPct00.00103
IRS990ScheduleA/InvestmentIncomePYPct00.00073
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt09709
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt017472
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt035974
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt059424
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt066380
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0188959
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.94610
IRS990ScheduleA/PublicSupportPY509Pct00.93512
IRS990ScheduleA/PublicSupportTotal509Amt03381408
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0707446
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0688926
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0673273
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0666411
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0645352
IRS990ScheduleA/Total509Grp/TotalAmt03381408
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0718638
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0707822
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0709703
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0725996
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0711907
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03574066
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt017848
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02332592
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02350440
IRS990ScheduleD/ExpensesSubtotalAmt0749683
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt029750
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt029750
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt023371
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt119005
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2235474
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MORTGAGE ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07718
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt07718
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023371
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt16476
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2246175
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RENT DEFERRED CREDITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED INTEREST - FLEXIBLE SU
IRS990ScheduleD/RevenueSubtotalAmt0718638
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0As of December 31, 2014, the Organization did not identify any uncertain tax positions taken or expected to be taken in an income tax return which would require adjustment to or disclosure in its financial statements. In addition, the Organization believes it has not engaged in any activities for which its tax-exempt status would not be sustained under Internal Revenue Service examination. Generally, the Organization is potentially subject to Federal income tax examinations for three years.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt047598
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0277850
IRS990ScheduleD/TotalExpensesPerForm990Amt0749683
IRS990ScheduleD/TotalLiabilityAmt0276022
IRS990ScheduleD/TotalRevenuePerForm990Amt0718638
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0718638
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0749683
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GOVERNANCE THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT DUTIES TO A MANAGEMENT AGENT ACTING PURSUANT TO HUD GUIDELINES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNANCE A COPY OF THE FORM 990 IS REVIEWED BY THE BOARD PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DISCLOSURE THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0535574
IRS990/TotalAssetsEOYAmt0408211
IRS990/TotalAssetsGrp/BOYAmt0535574
IRS990/TotalAssetsGrp/EOYAmt0408211
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017998
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0731685
IRS990/TotalFunctionalExpensesGrp/TotalAmt0749683

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$408,211
Liabilities
$1,725,184
Net assets
-$1,316,973
Revenue
$718,638
Expenses
$749,683
Net income
-$31,045
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.66$0.09$1.57$3.24$0.40$2.85
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$1.76$1.28$0.71$0.68$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.41$1.73$1.32$0.72$0.75$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.54$1.82$1.29$0.71$0.63$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$1.85$1.36$0.59
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$1.89$1.48$0.61