Civic Intelligence

201 Thurbers Inc.

990 • Fiscal year 2019 • EIN 26-2399236

Jan 01, 2019 to Dec 31, 2019 • Filed on May 13, 2020

Organization ProfileWWW.SWAPINC.ORG
439 Pine StreetProvidence, RI 02907

(401) 272-0526

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.06x

Higher debt load relative to assets than 93% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

14.77x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

6th percentile

-46%

Higher net margin than 6% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

24th percentile

-3.5%

Faster asset growth than 24% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

43rd percentile

1.4%

Faster revenue growth than 43% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$3,006,886

Down $109,901 (-3.5%) from 2018

Net Assets

Down

-$179,696

Down $98,669 (-122%) from 2018

Liabilities

Down

$3,186,582

Down $11,232 (-0.4%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin6th percentile

Revenue

Up

$215,713

Up $2,963 (+1.4%) from 2018

Expenses

Up

$314,382

Up $36,187 (+13%) from 2018

Net Income

Down

-$98,669

Down $33,224 (-51%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2011: $3,623,750Liabilities 2011: $3,176,757Net Assets 2011: $446,9932011Assets 2012: $3,592,638Liabilities 2012: $3,196,288Net Assets 2012: $396,3502012Assets 2013: $3,548,995Liabilities 2013: $3,192,324Net Assets 2013: $356,6712013Assets 2014: $3,469,539Liabilities 2014: $3,185,188Net Assets 2014: $284,3512014Assets 2015: $3,399,761Liabilities 2015: $3,188,128Net Assets 2015: $211,6332015Assets 2016: $3,334,419Liabilities 2016: $3,192,774Net Assets 2016: $141,6452016Assets 2017: $3,173,170Liabilities 2017: $3,188,752Net Assets 2017: -$15,5822017Assets 2018: $3,116,787Liabilities 2018: $3,197,814Net Assets 2018: -$81,0272018Assets 2019: $3,006,886Liabilities 2019: $3,186,582Net Assets 2019: -$179,6962019Assets 2020: $2,923,531Liabilities 2020: $3,191,849Net Assets 2020: -$268,3182020Assets 2021: $2,836,764Liabilities 2021: $3,193,187Net Assets 2021: -$356,4232021Assets 2022: $2,780,526Liabilities 2022: $3,225,908Net Assets 2022: -$445,3822022Assets 2023: $2,708,616Liabilities 2023: $3,274,242Net Assets 2023: -$565,6262023Assets 2024: $2,636,551Liabilities 2024: $3,302,449Net Assets 2024: -$665,8982024

Highlighted filing

2019

Assets$3,006,886
Liabilities$3,186,582
Net Assets-$179,696
Open 2019 Filing

Operations Trend

Revenue Growth43rd percentile

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

$400K$200K$0-$200KExpenses 2011: $248,7112011Expenses 2012: $261,5042012Revenue 2013: $211,846Expenses 2013: $251,525Net Income 2013: -$39,6792013Revenue 2014: $217,861Expenses 2014: $290,181Net Income 2014: -$72,3202014Revenue 2015: $217,649Expenses 2015: $290,367Net Income 2015: -$72,7182015Revenue 2016: $214,601Expenses 2016: $284,589Net Income 2016: -$69,9882016Revenue 2017: $213,990Expenses 2017: $371,217Net Income 2017: -$157,2272017Revenue 2018: $212,750Expenses 2018: $278,195Net Income 2018: -$65,4452018Revenue 2019: $215,713Expenses 2019: $314,382Net Income 2019: -$98,6692019Revenue 2020: $213,926Expenses 2020: $302,548Net Income 2020: -$88,6222020Revenue 2021: $219,083Expenses 2021: $307,188Net Income 2021: -$88,1052021Revenue 2022: $225,555Expenses 2022: $314,514Net Income 2022: -$88,9592022Revenue 2023: $221,295Expenses 2023: $341,539Net Income 2023: -$120,2442023Revenue 2024: $249,882Expenses 2024: $350,154Net Income 2024: -$100,2722024

Highlighted filing

2019

Revenue$215,713
Expenses$314,382
Net Income-$98,669
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 13, 2020
Return Version
2019v5.1
Gross Receipts
$215,713
Mission and Program Overview

Mission

Provide low income housing to the elderly in the providence, ri area under section 202 of the national housing act.

To provide low income housing to the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,953,992$2,871,761▼ $82,231
Cash and Non-Interest-Bearing Accounts$17,366$97,467▲ $80,101
Accounts Receivable$276$16,715▲ $16,439
Savings and Temporary Cash Investments$7,770$7,727▼ $43
Prepaid Expenses and Deferred Charges$1,229$3,328▲ $2,099
Total Assets$3,116,787$3,006,886▼ $109,901
Other Assets Total$136,154$9,888▼ $126,266
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,146,800$3,146,800→ $0
Accounts Payable and Accrued Expenses$33,477$22,989▼ $10,488
Unsecured Notes Loans Payable$9,973$9,973→ $0
Other Liabilities$5,405$5,357▼ $48
Deferred Revenue$2,159$1,463▼ $696
Total Liabilities$3,197,814$3,186,582▼ $11,232
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-81,027$-179,696▼ $98,669
Total Net Assets Fund Balance$-81,027$-179,696▼ $98,669
Total Liabilities and Net Assets / Fund Balance$3,116,787$3,006,886▼ $109,901

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,436,761$812,946$3,249,707
Land$435,000-$435,000
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Peter BortolottiVice President
Carla DestefanoExecutive Director
Nancy WhitMember
Phyllis JohnsonMember
Richardson OgidanSecretary
Rosetta Clark-brooksTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$155,865
Program Service Revenue
$59,031
Investment Income
$8
Other Revenue
$809
Change in Net Assets
$-98,669
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$255,409
Salaries, Compensation, and Employee Benefits$58,973
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$99,613--$99,613
Depreciation Depletion$82,231--$82,231
Other Salaries and Wages$45,853--$45,853
Fees for Services Management-$14,575-$14,575
Office Expenses$3,957$9,513-$13,470
Insurance$11,408--$11,408
Other Employee Benefits$9,375--$9,375
Fees for Services Accounting-$7,157-$7,157
Payroll Taxes$3,745--$3,745
Fees for Services Legal$2,402--$2,402
Fees for Services Other$1,135--$1,135
Advertising$1,105--$1,105
Other Expenses$533--$533
Total Functional Expenses$283,137$31,245$0$314,382
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$5,357
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Form 990 is available for review by the governing board upon request.”

Form 990, Part VI, Section B, Line 12C

“The governing body adheres to the conflict of interest policy that is in place. This policy is reviewed periodically.”

Form 990, Part VI, Section C, Line 19

“The governing documents and form 990 are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
201 Thurbers Inc
EIN
26-2399236
Phone
4012720526
Address
439 PINE STREET, PROVIDENCE, RI 02907

Signing Officer

Name
Carla Destefano
Title
Exec Director
Phone
4012720526
Signed
2020-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carla Destefano
Formed
2009
Legal Domicile
Ri
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Damiano Burk & Nuttall Pc
Address
6 BLACKSTONE VALLEY PL STE 109, LINCOLN, RI 02865
Preparer
Jeremy Cole
Phone
4013332880
Supplemental Narrative

Additional Explanations

Form 990 Page 12 Line 2C

“There have been no changes in the organization's oversight or selection process during the year ended december 31, 2019.”

Financial Statement Notes

PART X, LINE 2:

“Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The corporation has analyzed tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. Management believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect to the corporation's financial condition, results of operations or cash flows. Accordingly, the corporation has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at december 31, 2019. Tax years prior to 2015 have been closed for examination by taxing authorities.”

Raw XML AppendixShowing 400 of 436 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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0214102
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0812946
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0435000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0435000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05357
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE CORPORATION HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICTIONS WHERE IT OPERATES. MANAGEMENT BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT TO THE CORPORATION'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE CORPORATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2019. TAX YEARS PRIOR TO 2015 HAVE BEEN CLOSED FOR EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02871761
IRS990ScheduleD/TotalLiabilityAmt05357
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS AVAILABLE FOR REVIEW BY THE GOVERNING BOARD UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY ADHERES TO THE CONFLICT OF INTEREST POLICY THAT IS IN PLACE. THIS POLICY IS REVIEWED PERIODICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE HAVE BEEN NO CHANGES IN THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESS DURING THE YEAR ENDED DECEMBER 31, 2019.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PAGE 12 LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1SWAP COMMUNITY LAND TRUST INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0REHABILITATION OF LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1MANAGEMENT OF LOW INCOME HOUSING
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1439 PINE ST
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1PROVIDENCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1RI
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt032133
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt19973
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt214575
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt345853
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt489933
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt4COST
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1SWAP INC
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3SWAP COMMUNITY LAND TRUST
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt00
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IRS990/TotalProgramServiceExpensesAmt0283137
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0215713
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt09973
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt09973
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0PROVIDENCE
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002907
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.SWAPINC.ORG

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,006,886
Liabilities
$3,186,582
Net assets
-$179,696
Revenue
$215,713
Expenses
$314,382
Net income
-$98,669
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.64$3.30$0.67$0.25$0.35$0.10
2023Detailed filing. Detailed filing data is available for this year.$2.71$3.27$0.57$0.22$0.34$0.12
2022Detailed filing. Detailed filing data is available for this year.$2.78$3.23$0.45$0.23$0.31$0.09
2021Detailed filing. Detailed filing data is available for this year.$2.84$3.19$0.36$0.22$0.31$0.09
2020Detailed filing. Detailed filing data is available for this year.$2.92$3.19$0.27$0.21$0.30$0.09
2019Detailed filing. Detailed filing data is available for this year.$3.01$3.19$0.18$0.22$0.31$0.10
2018Detailed filing. Detailed filing data is available for this year.$3.12$3.20$0.08$0.21$0.28$0.07
2017Detailed filing. Detailed filing data is available for this year.$3.17$3.19$0.02$0.21$0.37$0.16
2016Detailed filing. Detailed filing data is available for this year.$3.33$3.19$0.14$0.21$0.28$0.07
2015Detailed filing. Detailed filing data is available for this year.$3.40$3.19$0.21$0.22$0.29$0.07
2014Detailed filing. Detailed filing data is available for this year.$3.47$3.19$0.28$0.22$0.29$0.07
2013Detailed filing. Detailed filing data is available for this year.$3.55$3.19$0.36$0.21$0.25$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.59$3.20$0.40$0.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.62$3.18$0.45$0.25