Civic Intelligence

Triangle Elderly Housing Corporation

990 • Fiscal year 2017 • EIN 27-2090858

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 30, 2018

Organization ProfileN/A
1363 West Market StreetSmithfield, NC 27577

(919) 934-6066

Siviq Scores

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

Liabilities / Assets

72nd percentile

1.32x

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

2017 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

44th percentile

4.77x

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

2017 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2017

Net Margin

78th percentile

-1.8%

Higher net margin than 78% of similar nonprofits.

2017 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

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

2017 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2017

Asset Growth

42nd percentile

-3.2%

Faster asset growth than 42% of similar nonprofits.

2017 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

30th percentile

0.4%

Faster revenue growth than 30% of similar nonprofits.

2017 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$2,109,204

Down $117,611 (-5.3%) from 2015

Net Assets

Down

-$683,297

Down $32,266 (-5.0%) from 2015

Liabilities

Down

$2,792,501

Down $85,345 (-3.0%) from 2015

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin78th percentile

Revenue

Up

$585,549

Up $17,338 (+3.1%) from 2015

Expenses

Up

$595,820

Up $47,420 (+8.6%) from 2015

Net Income

Down

-$10,271

Down $30,082 (-152%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2012: $2,334,192Liabilities 2012: $3,069,519Net Assets 2012: -$735,3272012Assets 2015: $2,226,815Liabilities 2015: $2,877,846Net Assets 2015: -$651,0312015Assets 2017: $2,109,204Liabilities 2017: $2,792,501Net Assets 2017: -$683,2972017Assets 2018: $2,080,217Liabilities 2018: $2,760,415Net Assets 2018: -$680,1982018Assets 2019: $1,990,538Liabilities 2019: $2,681,727Net Assets 2019: -$691,1892019Assets 2021: $1,890,092Liabilities 2021: $2,583,566Net Assets 2021: -$693,4742021Assets 2022: $1,845,868Liabilities 2022: $2,520,443Net Assets 2022: -$674,5752022Assets 2024: $1,919,956Liabilities 2024: $2,448,188Net Assets 2024: -$528,2322024

Highlighted filing

2017

Assets$2,109,204
Liabilities$2,792,501
Net Assets-$683,297
Open 2017 Filing

Operations Trend

Revenue Growth30th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2012: $511,0092012Revenue 2015: $568,211Expenses 2015: $548,400Net Income 2015: $19,8112015Revenue 2017: $585,549Expenses 2017: $595,820Net Income 2017: -$10,2712017Revenue 2018: $598,362Expenses 2018: $595,263Net Income 2018: $3,0992018Revenue 2019: $606,462Expenses 2019: $617,453Net Income 2019: -$10,9912019Revenue 2021: $612,226Expenses 2021: $599,583Net Income 2021: $12,6432021Revenue 2022: $622,913Expenses 2022: $604,014Net Income 2022: $18,8992022Revenue 2024: $708,369Expenses 2024: $593,798Net Income 2024: $114,5712024

Highlighted filing

2017

Revenue$585,549
Expenses$595,820
Net Income-$10,271
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 30, 2018
Return Version
2017v2.3
Gross Receipts
$588,764
Mission and Program Overview

Mission

The exempt purpose is to provide housing to low income elderly or handicapped individuals. The subsidized rentals from the dept of housing and urban development make this possible.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,510,726$1,488,892▼ $21,834
Intangible Assets$167,757$162,071▼ $5,686
Prepaid Expenses and Deferred Charges$25,451$27,186▲ $1,735
Savings and Temporary Cash Investments$20,811$21,575▲ $764
Accounts Receivable$3,877$4,652▲ $775
Cash and Non-Interest-Bearing Accounts$23,458$3,243▼ $20,215
Total Assets$2,178,590$2,109,204▼ $69,386
Other Assets Total$426,510$401,585▼ $24,925
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,792,279$2,741,743▼ $50,536
Other Liabilities$36,835$38,552▲ $1,717
Accounts Payable and Accrued Expenses$20,871$10,173▼ $10,698
Deferred Revenue$1,631$2,033▲ $402
Total Liabilities$2,851,616$2,792,501▼ $59,115
Net Assets / Fund Balance
Unrestricted Net Assets$-673,026$-683,297▼ $10,271
Total Net Assets Fund Balance$-673,026$-683,297▼ $10,271
Total Liabilities and Net Assets / Fund Balance$2,178,590$2,109,204▼ $69,386

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,319,546$2,079,033$3,398,579
Land$118,638-$118,638
Equipment$50,708$45,213$95,921
Other Land Buildings-$11,518$11,518
Other Assets Org$50--
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Jimmy ParkerChair
Steve StricklandVice Chair
Bill WenzelSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$588,561
Investment Income
$-3,012
Other Revenue
$0
Change in Net Assets
$-10,271

Audited Revenue Reconciliation

Revenue per Audited Statements
$585,549
Total Revenue per Audited Statements
$585,549
Total Revenue per Form 990
$585,549
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$595,820
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
Interest$110,050--$110,050
Depreciation Depletion$100,430--$100,430
Occupancy$91,274--$91,274
Fees for Services Other$41,859--$41,859
All Other Expenses$38,782--$38,782
Other Expenses$31,222--$31,222
Fees for Services Accounting$20,700--$20,700
Total Functional Expenses$595,820$0$0$595,820

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$595,820
Total Expenses per Audited Statements$595,820
Total Expenses per Form 990$595,820
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$21,575
Accrued Interest$9,093
Accrued Management Fees$3,121
Accrued Payroll Taxes$2,763
Operating Advance - C&s Jc$2,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Beginning in 2014, the project became self-managed. The project entered into a management agreement allowing for a management fee equal to 7.71% of rent collected. For the year ended december 31, 2017, the fee amounted to 41,710. Per agreement with hud, the project operating account is allowed to transfer this money to an entity maintained bank account and is allowed to use these funds in its entity operations. During the year ended december 31, 2017, the project transferred 41,859 to an entity maintained bank account. This amount has been reflected on the projects statement of activities in account number 7105 entity revenue. For the year ended december 31, 2017, the project used 41,859 of these funds to reimburse community & senior services of johnston county (css ) for providing contract services. This amount has been reflected on the projects statement of activities in account number 7190 other expenses. In addition, the project reimbursed css 15,200 for providing front line administrative and accounting services.”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Triangle Elderly Housing
EIN
27-2090858
Phone
9199346066
Address
1363 WEST MARKET STREET, SMITHFIELD, NC 27577

Signing Officer

Name
Jimmy Parker
Title
Chair
Phone
9199346066
Signed
2018-10-30

Organization Details

Principal Officer
Jimmy Parker
Formed
2011
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
3
Employees
4

Preparer

Firm
O Douglas Covington
Address
1031 SUMMIT AVE STE 2E1, GREENSBORO, NC 27405
Preparer
O Douglas Covington
Phone
3362725618
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The corporation has been classified as an other-than private foundation and is tax-exempt under section 501(c)(3) of the internal revenue code. The corporation is subject to a tax on income from any unrelated business. At december 31, 2017, the corporation had no unrelated business income. 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. The corporation 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 on the corporations 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, 2017. The corporation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The corporation believes it is no longer subject to income”

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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED MANAGEMENT FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED PAYROLL TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4OPERATING ADVANCE - C&S JC
IRS990ScheduleD/RevenueSubtotalAmt0585549
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS BEEN CLASSIFIED AS AN OTHER-THAN PRIVATE FOUNDATION AND IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION IS SUBJECT TO A TAX ON INCOME FROM ANY UNRELATED BUSINESS. AT DECEMBER 31, 2017, THE CORPORATION HAD NO UNRELATED BUSINESS INCOME. 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. THE CORPORATION 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 ON THE CORPORATIONS 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, 2017. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE CORPORATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01488892
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0401585
IRS990ScheduleD/TotalExpensesPerForm990Amt0595820
IRS990ScheduleD/TotalLiabilityAmt038552
IRS990ScheduleD/TotalRevenuePerForm990Amt0585549
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0585549
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0595820
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BEGINNING IN 2014, THE PROJECT BECAME SELF-MANAGED. THE PROJECT ENTERED INTO A MANAGEMENT AGREEMENT ALLOWING FOR A MANAGEMENT FEE EQUAL TO 7.71% OF RENT COLLECTED. FOR THE YEAR ENDED DECEMBER 31, 2017, THE FEE AMOUNTED TO 41,710. PER AGREEMENT WITH HUD, THE PROJECT OPERATING ACCOUNT IS ALLOWED TO TRANSFER THIS MONEY TO AN ENTITY MAINTAINED BANK ACCOUNT AND IS ALLOWED TO USE THESE FUNDS IN ITS ENTITY OPERATIONS. DURING THE YEAR ENDED DECEMBER 31, 2017, THE PROJECT TRANSFERRED 41,859 TO AN ENTITY MAINTAINED BANK ACCOUNT. THIS AMOUNT HAS BEEN REFLECTED ON THE PROJECTS STATEMENT OF ACTIVITIES IN ACCOUNT NUMBER 7105 ENTITY REVENUE. FOR THE YEAR ENDED DECEMBER 31, 2017, THE PROJECT USED 41,859 OF THESE FUNDS TO REIMBURSE COMMUNITY & SENIOR SERVICES OF JOHNSTON COUNTY (CSS ) FOR PROVIDING CONTRACT SERVICES. THIS AMOUNT HAS BEEN REFLECTED ON THE PROJECTS STATEMENT OF ACTIVITIES IN ACCOUNT NUMBER 7190 OTHER EXPENSES. IN ADDITION, THE PROJECT REIMBURSED CSS 15,200 FOR PROVIDING FRONT LINE ADMINISTRATIVE AND ACCOUNTING SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02178590
IRS990/TotalAssetsEOYAmt02109204
IRS990/TotalAssetsGrp/BOYAmt02178590
IRS990/TotalAssetsGrp/EOYAmt02109204
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0595820
IRS990/TotalFunctionalExpensesGrp/TotalAmt0595820
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02851616
IRS990/TotalLiabilitiesEOYAmt02792501
IRS990/TotalLiabilitiesGrp/BOYAmt02851616
IRS990/TotalLiabilitiesGrp/EOYAmt02792501
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-673026
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-683297
IRS990/TotalProgramServiceExpensesAmt0595820
IRS990/TotalProgramServiceRevenueAmt0588561
IRS990/TotalRevenueGrp/ExclusionAmt0546905
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt038644
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0585549
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02178590
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02109204
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-673026
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-683297
IRS990/USAddress/AddressLine1Txt01363 WEST MARKET STREET
IRS990/USAddress/CityNm0SMITHFIELD
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027577
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JIMMY PARKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum09199346066
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRIANGLE ELDERLY HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0TRIA
ReturnHeader/Filer/EIN0272090858
ReturnHeader/Filer/PhoneNum09199346066
ReturnHeader/Filer/USAddress/AddressLine1Txt01363 WEST MARKET STREET
ReturnHeader/Filer/USAddress/CityNm0SMITHFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027577
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId04069FC157CB9B80FE8968E93C3C6556E49D6D9C2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08AE7A7985622D0299A6D121F26C0752C747F2B2F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-11-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm008:54:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561425237
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0O DOUGLAS COVINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01031 SUMMIT AVE STE 2E1
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENSBORO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027405
ReturnHeader/PreparerPersonGrp/PhoneNum03362725618
ReturnHeader/PreparerPersonGrp/PreparationDt02018-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0O DOUGLAS COVINGTON
ReturnHeader/ReturnTs02018-11-06T09:54:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,109,204
Liabilities
$2,792,501
Net assets
-$683,297
Revenue
$585,549
Expenses
$595,820
Net income
-$10,271
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.92$2.45$0.53$0.71$0.59$0.11
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$2.52$0.67$0.62$0.60$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.89$2.58$0.69$0.61$0.60$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.99$2.68$0.69$0.61$0.62$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.08$2.76$0.68$0.60$0.60$0.00
2017Detailed filing. Detailed filing data is available for this year.$2.11$2.79$0.68$0.59$0.60$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.23$2.88$0.65$0.57$0.55$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.33$3.07$0.74$0.51
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $1M-$5M nonprofits