Civic Intelligence

Warc Properties Inc.

990 • Fiscal year 2021 • EIN 23-7356004

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 07, 2022

Organization ProfileWWW.WESTCHESTERARC.ORG
265 Saw Mill River RoadHawthorne, NY 10532

(914) 495-4623

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

11th percentile

0.00x

Higher debt load relative to revenue than 11% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Net Margin

46th percentile

9.5%

Higher net margin than 46% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$342,827

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 400.0% of source-year revenue.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Asset Growth

48th percentile

6.3%

Faster asset growth than 48% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

28th percentile

-2.5%

Faster revenue growth than 28% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$2,357,603

Up $138,718 (+6.3%) from 2020

Net Assets

Up

$2,357,502

Up $138,617 (+6.2%) from 2020

Liabilities

Up

$101

Up $101 from 2020

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin46th percentile

Revenue

Down

$85,713

Down $2,175 (-2.5%) from 2020

Expenses

Down

$77,528

Down $3,302 (-4.1%) from 2020

Net Income

Up

$8,185

Up $1,127 (+16%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth48th percentile

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

$3.0M$2.0M$1.0M$0Assets 2017: $2,217,778Liabilities 2017: $0Net Assets 2017: $2,217,7782017Assets 2018: $2,207,287Liabilities 2018: $0Net Assets 2018: $2,207,2872018Assets 2019: $2,308,606Liabilities 2019: $0Net Assets 2019: $2,308,6062019Assets 2020: $2,218,885Liabilities 2020: $0Net Assets 2020: $2,218,8852020Assets 2021: $2,357,603Liabilities 2021: $101Net Assets 2021: $2,357,5022021Assets 2022: $2,247,166Liabilities 2022: $0Net Assets 2022: $2,247,1662022Assets 2023: $2,399,218Liabilities 2023: $0Net Assets 2023: $2,399,2182023Assets 2024: $2,590,850Liabilities 2024: $0Net Assets 2024: $2,590,8502024

Highlighted filing

2021

Assets$2,357,603
Liabilities$101
Net Assets$2,357,502
Open 2021 Filing

Operations Trend

Revenue Growth28th percentile

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

$100K$50K$0Revenue 2017: $93,358Expenses 2017: $84,949Net Income 2017: $8,4092017Revenue 2018: $92,087Expenses 2018: $81,962Net Income 2018: $10,1252018Revenue 2019: $92,001Expenses 2019: $80,505Net Income 2019: $11,4962019Revenue 2020: $87,888Expenses 2020: $80,830Net Income 2020: $7,0582020Revenue 2021: $85,713Expenses 2021: $77,528Net Income 2021: $8,1852021Revenue 2022: $62,821Expenses 2022: $52,276Net Income 2022: $10,5452022Revenue 2023: $81,330Expenses 2023: $53,162Net Income 2023: $28,1682023Revenue 2024: $94,672Expenses 2024: $53,066Net Income 2024: $41,6062024

Highlighted filing

2021

Revenue$85,713
Expenses$77,528
Net Income$8,185
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 7, 2022
Return Version
2021v4.2
Gross Receipts
$85,713
Mission and Program Overview

Mission

Warc properties, inc. Is a not-for-profit organization formed to acquire and mortgage property to be leased at no profit to affiliates of the organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,064,126$1,011,854▼ $52,272
Savings and Temporary Cash Investments$673,238$726,201▲ $52,963
Investments in Publicly Traded Securities$481,521$619,548▲ $138,027
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$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
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$2,218,885$2,357,603▲ $138,718
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$101▲ $101
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$101▲ $101
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,218,885$2,357,502▲ $138,617
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$2,218,885$2,357,502▲ $138,617
Total Liabilities and Net Assets / Fund Balance$2,218,885$2,357,603▲ $138,718

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$132,654$3,874,161$4,006,815
Land$879,200-$879,200
Other Land Buildings$0$0$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay93rd percentile

Board Members and Trustees

NameTitle
Tibisay GuzmanPresident
Anne MajsakDirector
John BarrettDirector
Robert PiconeDirector
Mark Glucksmantreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$78,035
Investment Income
$7,678
Other Revenue
$0
Change in Net Assets
$8,185
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$77,528
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$52,272--$52,272
Occupancy$24,987--$24,987
Fees for Services Legal-$179-$179
Fees for Services Accounting-$90-$90
Total Functional Expenses$77,259$269$0$77,528
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 4:

“The organization amended its article of incorporation in CY2021 to reflect the following changes: 1. Corporation is now known as a charitable corporation 2. The Corporation is organized and operated exclusively for charitable purposes which are to provide both real and personal property to be leased at no profit to Not-for-Profit corporations which currently or may in the future provide services in the nature of residential facilities, day programs, employment programs, educational programs, or other programs for individuals with intellectual or developmental disabilities. Nothing herein shall authorize this corporation, either directly or indirectly to operate a program for individuals with intellectual or developmental disabilities or to carry on any of the activities for which approvals and consents are required under Section 404 of the Not-For-Profit Corporation law, or Section 757 of the Executive Law of the State of New York Prior to delivery to the Department of State, all approvals or consents required by law will be endorsed upon or annexed to this certificate.”

FORM 990, PART VI, SECTION B, LINE 11B:

“A copy of the form 990 is sent out to each director and reviewed by the board at a meeting at which a quorum is present. The board then votes to approve.”

FORM 990, PART VI, SECTION B, LINE 12C:

“The organization has the board annually sign the conflict of interest policy.”

FORM 990, PART VI, SECTION B, LINES 15A AND 15B:

“The organization does not compensate any officers or key employees.”

FORM 990, PART VI, SECTION C, LINE 19:

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

Filing and Contact Details

Filer

Filer Name
Warc Properties Inc
EIN
23-7356004
In Care Of
% ARC ACCOUNTING DEPT
Phone
9144954623
Address
265 SAW MILL RIVER ROAD, HAWTHORNE, NY 10532

Signing Officer

Name
Tibisay Guzman
Title
President
Phone
9144954623
Signed
2022-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tibisay Guzman
Formed
1974
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Bdo USA Llp
Address
100 PARK AVENUE, NEW YORK, NY 10017-5001
Preparer
Paul Hammerschmidt
Phone
2128858000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Under asc 740 income taxes, an organization must recognize the tax benefit associated with tax positions taken for tax return purposes when it is more likely than not that the position will be sustained upon examination by a taxing authority. Warc properties, inc. Does not believe it has taken any material uncertain tax positions and, accordingly, has not recorded any liability for unrecognized tax benefits. The organization has filed for and received income tax exemptions in the jurisdictions where it is required to do so. Additionally, the organization has filed irs form 990 information returns, as required, and all other applicable returns in jurisdictions where so required. For the year ended december 31, 2021, there were no interest or penalties recorded or included in the consolidating statement of activities. The organization is subject to routine audits by a taxing authority.”

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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt07678
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt078035
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0410567
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt07678
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt07477
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt040480
IRS990ScheduleA/InvestmentIncomeCYPct00.08975
IRS990ScheduleA/InvestmentIncomePYPct00.07321
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.91025
IRS990ScheduleA/PublicSupportPY509Pct00.92679
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt087157
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt085713
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt092087
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt093358
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0451047
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0132654
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03874161
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04006815
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0879200
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0879200
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNDER ASC 740 INCOME TAXES, AN ORGANIZATION MUST RECOGNIZE THE TAX BENEFIT ASSOCIATED WITH TAX POSITIONS TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. WARC PROPERTIES, INC. DOES NOT BELIEVE IT HAS TAKEN ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS NOT RECORDED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION HAS FILED FOR AND RECEIVED INCOME TAX EXEMPTIONS IN THE JURISDICTIONS WHERE IT IS REQUIRED TO DO SO. ADDITIONALLY, THE ORGANIZATION HAS FILED IRS FORM 990 INFORMATION RETURNS, AS REQUIRED, AND ALL OTHER APPLICABLE RETURNS IN JURISDICTIONS WHERE SO REQUIRED. FOR THE YEAR ENDED DECEMBER 31, 2021, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE CONSOLIDATING STATEMENT OF ACTIVITIES. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY A TAXING AUTHORITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01011854
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TIBISAY GUZMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0342827
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0NYSARC INC - WESTCHESTER COUNTY CHAPTER, AN AFFILIATE OF THE REPORTING ORGANIZATION PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL. NYSARC INC WESTCHESTER COUNTY CHAPTER HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING COMPENSATION SURVEYS OR STUDIES, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3:
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization amended its article of incorporation in CY2021 to reflect the following changes: 1. Corporation is now known as a charitable corporation 2. The Corporation is organized and operated exclusively for charitable purposes which are to provide both real and personal property to be leased at no profit to Not-for-Profit corporations which currently or may in the future provide services in the nature of residential facilities, day programs, employment programs, educational programs, or other programs for individuals with intellectual or developmental disabilities. Nothing herein shall authorize this corporation, either directly or indirectly to operate a program for individuals with intellectual or developmental disabilities or to carry on any of the activities for which approvals and consents are required under Section 404 of the Not-For-Profit Corporation law, or Section 757 of the Executive Law of the State of New York Prior to delivery to the Department of State, all approvals or consents required by law will be endorsed upon or annexed to this certificate.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS SENT OUT TO EACH DIRECTOR AND REVIEWED BY THE BOARD AT A MEETING AT WHICH A QUORUM IS PRESENT. THE BOARD THEN VOTES TO APPROVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS THE BOARD ANNUALLY SIGN THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINES 15A AND 15B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleR/AssetExchangeInd0false
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,357,603
Liabilities
$101
Net assets
$2,357,502
Revenue
$85,713
Expenses
$77,528
Net income
$8,185
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.59$0.00$2.59$0.09$0.05$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.40$0.00$2.40$0.08$0.05$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.25$0.00$2.25$0.06$0.05$0.01
2021Detailed filing. Detailed filing data is available for this year.$2.36$0.00$2.36$0.09$0.08$0.01
2020Detailed filing. Detailed filing data is available for this year.$2.22$0.00$2.22$0.09$0.08$0.01
2019Detailed filing. Detailed filing data is available for this year.$2.31$0.00$2.31$0.09$0.08$0.01
2018Detailed filing. Detailed filing data is available for this year.$2.21$0.00$2.21$0.09$0.08$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.22$0.00$2.22$0.09$0.08$0.01