Civic Intelligence

Whatcoat Community Development Inc

990 • Fiscal year 2016 • EIN 23-7306094

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

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

42nd percentile

0.06x

Higher debt load relative to assets than 42% of similar nonprofits.

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

Liabilities / Revenue

28th percentile

0.03x

Higher debt load relative to revenue than 28% of similar nonprofits.

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

Net Margin

98th percentile

88%

Higher net margin than 98% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

98th percentile

247%

Faster asset growth than 98% of similar nonprofits.

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

Revenue Growth

98th percentile

357%

Faster revenue growth than 98% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$1,659,916

Up $1,181,730 (+247%) from 2015

Net Assets

Up

$1,565,495

Up $2,848,433 (+222%) from 2015

Liabilities

Down

$94,421

Down $1,666,703 (-95%) from 2015

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin98th percentile

Revenue

Up

$3,243,860

Up $2,534,757 (+357%) from 2015

Expenses

Down

$395,427

Down $279,641 (-41%) from 2015

Net Income

Up

$2,848,433

Up $2,814,398 (+8269%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth98th 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

2016

Assets$1,659,916
Liabilities$94,421
Net Assets$1,565,495
Open 2016 Filing

Operations Trend

Revenue Growth98th 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

2016

Revenue$3,243,860
Expenses$395,427
Net Income$2,848,433
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.1
Gross Receipts
$3,590,677
Mission and Program Overview

Mission

To provide affordable housing to low-income households.

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$60,980$0▼ $60,980
Cash and Non-Interest-Bearing Accounts$35,123$53,568▲ $18,445
Land, Buildings, and Equipment, Net$45,704$0▼ $45,704
Accounts Receivable$11,640$0▼ $11,640
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$478,186$1,659,916▲ $1,181,730
Other Assets Total$324,739$1,606,348▲ $1,281,609
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,369,847$0▼ $1,369,847
Other Liabilities$304,875$78,561▼ $226,314
Accounts Payable and Accrued Expenses$86,402$15,860▼ $70,542
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$1,761,124$94,421▼ $1,666,703
Net Assets / Fund Balance
Unrestricted Net Assets$-1,282,938$1,565,495▲ $2,848,433
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$-1,282,938$1,565,495▲ $2,848,433
Total Liabilities and Net Assets / Fund Balance$478,186$1,659,916▲ $1,181,730

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,537,999--
Compensation and Service Providers
Top Officer PayScore unavailable

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
$327,696
Investment Income
$2,871,786
Other Revenue
$44,378
Change in Net Assets
$2,848,433
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$297,883
Salaries, Compensation, and Employee Benefits$97,544
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$127,384--$127,384
Other Salaries and Wages$80,668--$80,668
Fees for Services Management$45,633--$45,633
Fees for Services Accounting$4,922$12,500-$17,422
Interest$11,055--$11,055
Other Employee Benefits$10,090--$10,090
Office Expenses$9,299--$9,299
Payroll Taxes$6,786--$6,786
Fees for Services Legal$6,307--$6,307
Other Expenses$3,913$1,378-$3,913
Depreciation Depletion$804--$804
Advertising$354--$354
Total Functional Expenses$381,549$13,878$0$395,427
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Due to Affiliate$78,561
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
President
Phone
8565960500
Signed
2017-11-15
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
0
Volunteers
6

Preparer

Firm
Bdo USA Llp
Address
1801 MARKET STREET SUITE 1700, PHILADELPHIA, PA 19103
Preparer
Marc R Berger CPA
Phone
2155641900
Supplemental Narrative

Financial Statement Notes

Part X, Line 2

“As of August 10, 2016, 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/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21537999
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MORTGAGE ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM - SELLERS NOTE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt078561
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0As of August 10, 2016, 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/TotalBookValueOtherAssetsAmt01606348
IRS990ScheduleD/TotalLiabilityAmt078561
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

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,659,916
Liabilities
$94,421
Net assets
$1,565,495
Revenue
$3,243,860
Expenses
$395,427
Net income
$2,848,433
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$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