Civic Intelligence

Circulo Housing Development Fund Corporation

990 • Fiscal year 2022 • EIN 26-1501209

Jun 01, 2021 to May 31, 2022 • Filed on Apr 14, 2023

Organization ProfileN/A
26 West Park Ave BLong Beach, NY 11561

(516) 431-1135

Siviq Scores

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

Liabilities / Assets

44th percentile

0.34x

Higher debt load relative to assets than 44% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

72nd percentile

5.32x

Higher debt load relative to revenue than 72% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Net Margin

82nd percentile

21%

Higher net margin than 82% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

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.

2022 filings • NTEE L • $1M-$5M nonprofits • Source year 2022

Asset Growth

70th percentile

1.6%

Faster asset growth than 70% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

41st percentile

0.2%

Faster revenue growth than 41% of similar nonprofits.

2022 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$2,218,706

Up $33,975 (+1.6%) from 2021

Net Assets

Up

$1,464,335

Up $30,222 (+2.1%) from 2021

Liabilities

Up

$754,371

Up $3,753 (+0.5%) from 2021

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin82nd percentile

Revenue

Up

$141,749

Up $273 (+0.2%) from 2021

Expenses

Up

$111,527

Up $2,500 (+2.3%) from 2021

Net Income

Down

$30,222

Down $2,227 (-6.9%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$3.0M$2.0M$1.0M$0Assets 2016: $1,376,642Liabilities 2016: $250,000Net Assets 2016: $1,126,6422016Assets 2017: $1,445,722Liabilities 2017: $250,000Net Assets 2017: $1,195,7222017Assets 2018: $1,588,598Liabilities 2018: $250,000Net Assets 2018: $1,338,5982018Assets 2019: $1,640,976Liabilities 2019: $250,000Net Assets 2019: $1,390,9762019Assets 2020: $1,651,664Liabilities 2020: $250,000Net Assets 2020: $1,401,6642020Assets 2021: $2,184,731Liabilities 2021: $750,618Net Assets 2021: $1,434,1132021Assets 2022: $2,218,706Liabilities 2022: $754,371Net Assets 2022: $1,464,3352022Assets 2023: $2,205,839Liabilities 2023: $751,388Net Assets 2023: $1,454,4512023Assets 2024: $2,203,506Liabilities 2024: $739,041Net Assets 2024: $1,464,4652024

Highlighted filing

2022

Assets$2,218,706
Liabilities$754,371
Net Assets$1,464,335
Open 2022 Filing

Operations Trend

Revenue Growth41st percentile

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

$1.0M$500K$0-$500KRevenue 2016: $844,402Expenses 2016: $43,294Net Income 2016: $801,1082016Revenue 2017: $115,487Expenses 2017: $46,407Net Income 2017: $69,0802017Revenue 2018: $202,471Expenses 2018: $59,595Net Income 2018: $142,8762018Revenue 2019: $113,721Expenses 2019: $61,343Net Income 2019: $52,3782019Revenue 2020: $123,641Expenses 2020: $112,953Net Income 2020: $10,6882020Revenue 2021: $141,476Expenses 2021: $109,027Net Income 2021: $32,4492021Revenue 2022: $141,749Expenses 2022: $111,527Net Income 2022: $30,2222022Revenue 2023: $143,993Expenses 2023: $153,877Net Income 2023: -$9,8842023Revenue 2024: $144,601Expenses 2024: $134,587Net Income 2024: $10,0142024

Highlighted filing

2022

Revenue$141,749
Expenses$111,527
Net Income$30,222
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Apr 14, 2023
Return Version
2021v4.2
Gross Receipts
$141,749
Mission and Program Overview

Mission

The mission of circulo housing development fund corporation ("hdfc") is to develop and operate housing for underserved individuals and families helping them improve their lives through housing stability.

Develop & operate housing for underserved individuals & families helping them improve their lives through housing stability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,194,348$1,158,856▼ $35,492
Cash and Non-Interest-Bearing Accounts$118,955$208,525▲ $89,570
Accounts Receivable$2,919--
Total Assets$2,184,731$2,218,706▲ $33,975
Other Assets Total$868,509$851,325▼ $17,184
Liabilities
Mortgage Notes Payable Secured by Investment Property$750,000$750,000→ $0
Accounts Payable and Accrued Expenses$618$4,371▲ $3,753
Total Liabilities$750,618$754,371▲ $3,753
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,434,113$1,464,335▲ $30,222
Total Net Assets Fund Balance$1,434,113$1,464,335▲ $30,222
Total Liabilities and Net Assets / Fund Balance$2,184,731$2,218,706▲ $33,975

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,158,856$1,018,467$2,177,323
Other Assets Org$543--
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Leo FernandezPresident
Amy FloresBoard Member
Evelyn TabaresBoard Member
Silvana LoyolaBoard Member
Hector MartinezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$141,420
Investment Income
$0
Other Revenue
$329
Change in Net Assets
$30,222
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$111,527
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$52,676--$52,676
Occupancy$28,397--$28,397
Insurance$16,085--$16,085
Office Expenses$1,942--$1,942
Fees for Services Accounting$1,011--$1,011
Other Expenses$48--$48
Total Functional Expenses$111,527$0$0$111,527
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
Audit committee
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
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Circulo housing development fund corporation ("hdfc") was established as a membership organization. Circulo de la hispanidad, inc. ("circulo") is the sole member.”

Form 990, Part VI, Section A, Line 7A

“Circulo, the sole member, shall elect the directors of hdfc and reserves the power to remove the directors at any time with or without cause.”

Form 990, Part VI, Section A, Line 7B

“The power to amend the certificate of incorporation is reserved to circulo.”

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

“Hdfc has the form 990 reviewed by an outside cpa prior to submission to the internal revenue service.”

Form 990, Part VI, Section C, Line 19

“Hdfc makes its governing documents, conflict of interest policy, or financial statements available to the public upon request to the executive director.”

Filing and Contact Details

Filer

Filer Name
Circulo Housing Development Fund
EIN
26-1501209
Phone
5164311135
Address
26 WEST PARK AVE B, LONG BEACH, NY 11561

Signing Officer

Name
Hector Martinez
Title
Treasurer
Phone
5164311135
Signed
2023-04-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hector Martinez
Formed
2008
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
Alexander Lazzaruolo
Phone
2126617777
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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/ExplanationTxt0CIRCULO HOUSING DEVELOPMENT FUND CORPORATION ("HDFC") WAS ESTABLISHED AS A MEMBERSHIP ORGANIZATION. CIRCULO DE LA HISPANIDAD, INC. ("CIRCULO") IS THE SOLE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CIRCULO, THE SOLE MEMBER, SHALL ELECT THE DIRECTORS OF HDFC AND RESERVES THE POWER TO REMOVE THE DIRECTORS AT ANY TIME WITH OR WITHOUT CAUSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE POWER TO AMEND THE CERTIFICATE OF INCORPORATION IS RESERVED TO CIRCULO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3HDFC HAS THE FORM 990 REVIEWED BY AN OUTSIDE CPA PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4HDFC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST TO THE EXECUTIVE DIRECTOR.
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ReturnHeader/TaxYr02021

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,218,706
Liabilities
$754,371
Net assets
$1,464,335
Revenue
$141,749
Expenses
$111,527
Net income
$30,222
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.20$0.74$1.46$0.14$0.13$0.01
2023Detailed filing. Detailed filing data is available for this year.$2.21$0.75$1.45$0.14$0.15$0.01
2022Detailed filing. Detailed filing data is available for this year.$2.22$0.75$1.46$0.14$0.11$0.03
2021Detailed filing. Detailed filing data is available for this year.$2.18$0.75$1.43$0.14$0.11$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.65$0.25$1.40$0.12$0.11$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.64$0.25$1.39$0.11$0.06$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.59$0.25$1.34$0.20$0.06$0.14
2017Detailed filing. Detailed filing data is available for this year.$1.45$0.25$1.20$0.12$0.05$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.38$0.25$1.13$0.84$0.04$0.80