Civic Intelligence

Sandywoods Homes Inc.

990 • Fiscal year 2013 • EIN 26-4826876

Jan 01, 2013 to Dec 31, 2013 • Filed on Mar 02, 2014

50 Washington Square02840

(401) 846-5114

Siviq Scores

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

Liabilities / Assets

65th percentile

0.43x

Higher debt load relative to assets than 65% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

96th percentile

9.16x

Higher debt load relative to revenue than 96% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Net Margin

3rd percentile

-83%

Higher net margin than 3% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Asset Growth

19th percentile

-3.6%

Faster asset growth than 19% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$14,256,522

Down $533,197 (-3.6%) from 2012

Net Assets

Down

$8,196,744

Down $546,711 (-6.3%) from 2012

Liabilities

Up

$6,059,778

Up $13,514 (+0.2%) from 2012

Revenue

$661,281

No earlier filing loaded for comparison.

Expenses

Up

$1,207,992

Up $27,583 (+2.3%) from 2012

Net Income

-$546,711

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $15,225,448Liabilities 2010: $5,931,314Net Assets 2010: $9,294,1342010Assets 2011: $15,029,303Liabilities 2011: $5,916,271Net Assets 2011: $9,113,0322011Assets 2012: $14,789,719Liabilities 2012: $6,046,264Net Assets 2012: $8,743,4552012Assets 2013: $14,256,522Liabilities 2013: $6,059,778Net Assets 2013: $8,196,7442013Assets 2014: $13,690,944Liabilities 2014: $6,078,109Net Assets 2014: $7,612,8352014Assets 2015: $13,132,026Liabilities 2015: $6,135,973Net Assets 2015: $6,996,0532015Assets 2016: $12,619,135Liabilities 2016: $6,171,611Net Assets 2016: $6,447,5242016Assets 2017: $12,102,141Liabilities 2017: $6,158,140Net Assets 2017: $5,944,0012017Assets 2018: $11,632,576Liabilities 2018: $6,208,373Net Assets 2018: $5,424,2032018Assets 2020: $10,602,955Liabilities 2020: $6,318,416Net Assets 2020: $4,284,5392020Assets 2021: $10,127,441Liabilities 2021: $6,323,757Net Assets 2021: $3,803,6842021Assets 2022: $9,653,108Liabilities 2022: $6,387,979Net Assets 2022: $3,265,1292022

Highlighted filing

2013

Assets$14,256,522
Liabilities$6,059,778
Net Assets$8,196,744

Operations Trend

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

$1.5M$1.0M$500K$0-$500K-$1.0MExpenses 2010: $366,2052010Expenses 2011: $1,066,5902011Expenses 2012: $1,180,4092012Revenue 2013: $661,281Expenses 2013: $1,207,992Net Income 2013: -$546,7112013Revenue 2014: $674,970Expenses 2014: $1,258,879Net Income 2014: -$583,9092014Revenue 2015: $672,282Expenses 2015: $1,289,064Net Income 2015: -$616,7822015Revenue 2016: $689,903Expenses 2016: $1,238,432Net Income 2016: -$548,5292016Revenue 2017: $698,449Expenses 2017: $1,201,972Net Income 2017: -$503,5232017Revenue 2018: $725,657Expenses 2018: $1,245,455Net Income 2018: -$519,7982018Revenue 2020: $808,465Expenses 2020: $1,370,194Net Income 2020: -$561,7292020Revenue 2021: $852,701Expenses 2021: $1,333,556Net Income 2021: -$480,8552021Revenue 2022: $836,691Expenses 2022: $1,375,246Net Income 2022: -$538,5552022

Highlighted filing

2013

Revenue$661,281
Expenses$1,207,992
Net Income-$546,711
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Mar 2, 2014
Return Version
2013v3.0
Gross Receipts
$661,281
Mission and Program Overview

Mission

To develop and own affordable low and moderate income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,179,332$13,669,230▼ $510,102
Intangible Assets$220,395$212,453▼ $7,942
Cash and Non-Interest-Bearing Accounts$33,010$43,354▲ $10,344
Prepaid Expenses and Deferred Charges$18,627$30,623▲ $11,996
Accounts Receivable$10,726$7,234▼ $3,492
Total Assets$14,789,719$14,256,522▼ $533,197
Other Assets Total$327,629$293,628▼ $34,001
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,188,676$5,155,131▼ $33,545
Accounts Payable and Accrued Expenses$621,950$622,728▲ $778
Other Liabilities$235,309$281,150▲ $45,841
Deferred Revenue$329$769▲ $440
Total Liabilities$6,046,264$6,059,778▲ $13,514
Net Assets / Fund Balance
Temporarily Rstr Net Assets$7,235,209$6,677,418▼ $557,791
Unrestricted Net Assets$1,508,246$1,519,326▲ $11,080
Total Net Assets Fund Balance$8,743,455$8,196,744▼ $546,711
Total Liabilities and Net Assets / Fund Balance$14,789,719$14,256,522▼ $533,197

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,290,482$915,961$11,206,443
Other Land Buildings$2,547,848$585,618$3,133,466
Equipment$830,900$60,787$891,687
Compensation and Service Providers

Board Members and Trustees

NameTitle
Marjorie JensenPresident
Paul MurphyVice President
Robert SabelTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$5,000
Program Service Revenue
$624,518
Investment Income
$804
Other Revenue
$30,959
Change in Net Assets
$-546,711

Audited Revenue Reconciliation

Revenue per Audited Statements
$661,281
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$661,281
Total Revenue per Form 990
$661,281
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,104,385
Salaries, Compensation, and Employee Benefits$103,607
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$521,263--$521,263
Interest$207,084--$207,084
Occupancy$139,883--$139,883
Other Salaries and Wages$103,607--$103,607
All Other Expenses$47,882--$47,882
Insurance$31,097--$31,097
Fees for Services Management$23,950--$23,950
Other Expenses$15,000--$15,000
Office Expenses$12,480--$12,480
Fees for Services Accounting$6,500--$6,500
Advertising$1,044--$1,044
Fees for Services Legal$150--$150
Total Functional Expenses$1,207,992$0$0$1,207,992

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,207,992
Total Expenses per Audited Statements$1,207,992
Total Expenses per Form 990$1,207,992
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Sponsor of the Organization and Commonality of Board MembersUnpaid Development Fee for Services in Developing the Affordable Housing Project Under an Agreement Approved by the State Housing Lender and Project AdvancesNo$617,942
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Interest Payable$145,197
Due to Sponsor$103,791
Tenant Security Deposits$32,162
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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

The organization entered into a management contract with an unrelated company approved by the state regulatory agency

Form 990, Part VI, Section B, Line 11

The treasurer reviews the tax return before electronic filing with the irs

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

Comparison of bod of directors list with executed contracts and verbal verification

Form 990, Part VI, Section C, Line 19

The organization does not make these documents available

Form 990, Part VII

Marjorie jensen - 1724 crandall road, tiverton, ri 02878. Paul murphy - 423 union street, portsmouth, ri 02871.

Filing and Contact Details

Filer

EIN
26-4826876
Phone
4018465114

Signing Officer

Name
Robert Sabel
Title
Treasurer/secretary
Phone
4018465114
Signed
2014-03-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Sabel
Formed
2009
Legal Domicile
Ri
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Preparer
CRAIG D'AMBRA
Phone
4014742300
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed in the current year

Raw XML AppendixShowing 400 of 435 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/Total509Grp/TotalAmt011969493
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0661281
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0810832
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0885488
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt08821429
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0840410
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt012019440
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt010290482
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0915961
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt011206443
IRS990ScheduleD/EquipmentGrp/BookValueAmt0830900
IRS990ScheduleD/EquipmentGrp/DepreciationAmt060787
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0891687
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01207992
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02547848
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0585618
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03133466
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0103791
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1145197
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt232162
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO SPONSOR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0661281
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013669230
IRS990ScheduleD/TotalExpensesPerForm990Amt01207992
IRS990ScheduleD/TotalLiabilityAmt0281150
IRS990ScheduleD/TotalRevenuePerForm990Amt0661281
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0661281
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01207992
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine10CHURCH COMMUNITY HOUSING CORPORATION
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0SPONSOR OF THE ORGANIZATION AND COMMONALITY OF BOARD MEMBERS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0617942
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0UNPAID DEVELOPMENT FEE FOR SERVICES IN DEVELOPING THE AFFORDABLE HOUSING PROJECT UNDER AN AGREEMENT APPROVED BY THE STATE HOUSING LENDER AND PROJECT ADVANCES
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ENTERED INTO A MANAGEMENT CONTRACT WITH AN UNRELATED COMPANY APPROVED BY THE STATE REGULATORY AGENCY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TREASURER REVIEWS THE TAX RETURN BEFORE ELECTRONIC FILING WITH THE IRS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPARISON OF BOD OF DIRECTORS LIST WITH EXECUTED CONTRACTS AND VERBAL VERIFICATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT MAKE THESE DOCUMENTS AVAILABLE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MARJORIE JENSEN - 1724 CRANDALL ROAD, TIVERTON, RI 02878. PAUL MURPHY - 423 UNION STREET, PORTSMOUTH, RI 02871.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED IN THE CURRENT YEAR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VII
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10CHURCH COMMUNITY HOUSING CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0050343709
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SPONSOR OF ORGANIZATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 9
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1050 WASHINGTON SQUARE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0NEWPORT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode002840
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0617942
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine10CHURCH COMMUNITY HOUSING CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt07235209
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt06677418
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt014789719
IRS990/TotalAssetsEOYAmt014256522
IRS990/TotalAssetsGrp/BOYAmt014789719
IRS990/TotalAssetsGrp/EOYAmt014256522
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt05000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01207992
IRS990/TotalFunctionalExpensesGrp/TotalAmt01207992
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06046264
IRS990/TotalLiabilitiesEOYAmt06059778
IRS990/TotalLiabilitiesGrp/BOYAmt06046264
IRS990/TotalLiabilitiesGrp/EOYAmt06059778
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08743455
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08196744
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01207992
IRS990/TotalProgramServiceRevenueAmt0624518
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0804
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0655477
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0661281
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014789719
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt014256522
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01508246
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01519326
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1050 WASHINGTON SQUARE

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.65$6.39$3.27$0.84$1.38$0.54
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$6.32$3.80$0.85$1.33$0.48
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.6$6.32$4.28$0.81$1.37$0.56
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.6$6.21$5.42$0.73$1.25$0.52
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$6.16$5.94$0.70$1.20$0.50
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.6$6.17$6.45$0.69$1.24$0.55
2015Detailed filing. Detailed filing data is available for this year.$13.1$6.14$7.00$0.67$1.29$0.62
2014Detailed filing. Detailed filing data is available for this year.$13.7$6.08$7.61$0.67$1.26$0.58
2013Detailed filing. Detailed filing data is available for this year.$14.3$6.06$8.20$0.66$1.21$0.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.8$6.05$8.74$1.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.0$5.92$9.11$1.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.2$5.93$9.29$0.37
Peer Organizations

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