Civic Intelligence

Massachusetts Avenue Housing Development Fund Corporation

990 • Fiscal year 2013 • EIN 27-2382090

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 14, 2014

271 Grant Street14213

(716) 884-0356

Siviq Scores

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

Liabilities / Assets

50th percentile

0.69x

Higher debt load relative to assets than 50% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

72nd percentile

6.09x

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

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Net Margin

83rd percentile

17%

Higher net margin than 83% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

61st percentile

$53,252

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 23.3% of source-year revenue.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Asset Growth

59th percentile

-0.7%

Faster asset growth than 59% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M 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

$2,016,728

Down $14,029 (-0.7%) from 2012

Net Assets

Up

$625,160

Up $38,356 (+6.5%) from 2012

Liabilities

Down

$1,391,568

Down $52,385 (-3.6%) from 2012

Revenue

$228,428

No earlier filing loaded for comparison.

Expenses

Up

$190,072

Up $177,733 (+1440%) from 2012

Net Income

$38,356

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.

$3.0M$2.0M$1.0M$0Assets 2012: $2,030,757Liabilities 2012: $1,443,953Net Assets 2012: $586,8042012Assets 2013: $2,016,728Liabilities 2013: $1,391,568Net Assets 2013: $625,1602013Assets 2014: $1,982,544Liabilities 2014: $1,418,285Net Assets 2014: $564,2592014Assets 2015: $1,913,716Liabilities 2015: $1,388,022Net Assets 2015: $525,6942015Assets 2016: $1,868,862Liabilities 2016: $1,394,166Net Assets 2016: $474,6962016Assets 2017: $1,816,538Liabilities 2017: $1,388,317Net Assets 2017: $428,2212017Assets 2018: $1,792,208Liabilities 2018: $1,408,574Net Assets 2018: $383,6342018Assets 2019: $1,732,382Liabilities 2019: $1,385,660Net Assets 2019: $346,7222019Assets 2020: $1,685,761Liabilities 2020: $1,380,775Net Assets 2020: $304,9862020Assets 2021: $1,640,533Liabilities 2021: $1,380,612Net Assets 2021: $259,9212021Assets 2022: $1,617,257Liabilities 2022: $1,382,337Net Assets 2022: $234,9202022Assets 2023: $1,572,466Liabilities 2023: $1,386,219Net Assets 2023: $186,2472023Assets 2024: $1,514,846Liabilities 2024: $1,394,877Net Assets 2024: $119,9692024

Highlighted filing

2013

Assets$2,016,728
Liabilities$1,391,568
Net Assets$625,160

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2012: $12,3392012Revenue 2013: $228,428Expenses 2013: $190,072Net Income 2013: $38,3562013Revenue 2014: $54,432Expenses 2014: $115,333Net Income 2014: -$60,9012014Revenue 2015: $60,533Expenses 2015: $99,098Net Income 2015: -$38,5652015Revenue 2016: $54,591Expenses 2016: $105,589Net Income 2016: -$50,9982016Revenue 2017: $66,033Expenses 2017: $112,508Net Income 2017: -$46,4752017Revenue 2018: $63,126Expenses 2018: $107,713Net Income 2018: -$44,5872018Revenue 2019: $68,558Expenses 2019: $105,468Net Income 2019: -$36,9102019Revenue 2020: $59,277Expenses 2020: $101,013Net Income 2020: -$41,7362020Revenue 2021: $67,331Expenses 2021: $112,396Net Income 2021: -$45,0652021Revenue 2022: $102,987Expenses 2022: $127,988Net Income 2022: -$25,0012022Revenue 2023: $81,732Expenses 2023: $130,405Net Income 2023: -$48,6732023Revenue 2024: $56,194Expenses 2024: $122,472Net Income 2024: -$66,2782024

Highlighted filing

2013

Revenue$228,428
Expenses$190,072
Net Income$38,356
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 14, 2014
Return Version
2013v3.1
Gross Receipts
$228,428
Mission and Program Overview

Mission

To provide housing accomodations for persons and families of low income, as defined in section 2 of private housing finance law, which housing accomodations shall be situated and located at/or near massachusetts avenue, city of buffalo, new york.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,520,510$1,995,887▲ $475,377
Cash and Non-Interest-Bearing Accounts$11,332$18,014▲ $6,682
Accounts Receivable$34,000$2,714▼ $31,286
Prepaid Expenses and Deferred Charges$5,348$113▼ $5,235
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,030,757$2,016,728▼ $14,029
Other Assets Total$459,567$0▼ $459,567
Liabilities
Mortgage Notes Payable Secured by Investment Property$996,950$1,375,000▲ $378,050
Accounts Payable and Accrued Expenses$274,366--
Other Liabilities$172,637$16,568▼ $156,069
Total Liabilities$1,443,953$1,391,568▼ $52,385
Net Assets / Fund Balance
Unrestricted Net Assets$586,804$625,160▲ $38,356
Total Net Assets Fund Balance$586,804$625,160▲ $38,356
Total Liabilities and Net Assets / Fund Balance$2,030,757$2,016,728▼ $14,029

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,852,811$79,422$1,932,233
Equipment$107,193-$107,193
Other Land Buildings$33,883-$33,883
Land$2,000-$2,000
Compensation and Service Providers

Employees

NameTitleOtherTotal
Aaron BartleyBoard Treasurer$53,252$53,252
Jennifer MecozziBoard Secretary$43,260$43,260

Board Members and Trustees

NameTitle
Evan BussiereBoard President
Revenue and Support

Revenue Composition

Contributions and Grants
$184,870
Program Service Revenue
$43,558
Investment Income
$0
Other Revenue
$0
All Other Contributions
$10,524
Change in Net Assets
$38,356
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$183,734
Salaries, Compensation, and Employee Benefits$6,338
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$79,422--$79,422
Interest$32,348--$32,348
Other Expenses$7,191--$7,191
Fees for Services Accounting$6,665--$6,665
Fees for Services Management$4,791--$4,791
Insurance$4,596--$4,596
Other Salaries and Wages$3,845--$3,845
All Other Expenses$3,740--$3,740
Other Employee Benefits$2,493--$2,493
Fees for Services Legal$2,369--$2,369
Advertising$1,985--$1,985
Fees for Services Other$1,691--$1,691
Office Expenses$335--$335
Total Functional Expenses$190,072$0$0$190,072
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$11,673
Tenant Security Deposits$4,895
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
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, Line 8: Explanation of No Contemporaneously Documentation of Meetings

The organizations governing body does not have any committees with authority to act on behalf of the governing body.

Form 990, Part VI, Line 11B: Form 990 Review Process

The draft form 990 is reviewed in detail by the sole member's finance committee. The treasurer of the board of directors oversees the non attest services provided by the auditors, including preparation of form 990. The sole member's audit committee reviews all required schedules and compares the financial data to the audited financial statements and underlying supporting information.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization has a written conflict of interest policy that is monitored by the board and reviewed annually. Conflict of interest statements are reviewed by a board member for propriety on an annual basis.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Officers and key employees are not compensated by the organization.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents are available to the public upon request and through the ny attorney general's website.

Filing and Contact Details

Filer

EIN
27-2382090
Phone
7168840356

Signing Officer

Name
Aaron Bartley
Title
Treasurer
Signed
2014-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
1
Employees
0

Preparer

Preparer
Dale A Rowland CPA
Phone
5852790120
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

THE ORGANIZATION IS A 501(C)(3) ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. The organization follows the provisions of the Financial Accounting Standards Board Accounting Standards Codification pertaining to income taxes. Federal and State tax authorities generally have the right to examine and audit the previous three years of tax returns filed. Any interest and penalties assessed to the Corporations are recorded in operating expenses. ($0 for the years ended December 31, 2013 and 2012). Management is not aware of any uncertain tax positions requiring measurement or disclosure in these financial statements.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A 501(C)(3) ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. The organization follows the provisions of the Financial Accounting Standards Board Accounting Standards Codification pertaining to income taxes. Federal and State tax authorities generally have the right to examine and audit the previous three years of tax returns filed. Any interest and penalties assessed to the Corporations are recorded in operating expenses. ($0 for the years ended December 31, 2013 and 2012). Management is not aware of any uncertain tax positions requiring measurement or disclosure in these financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATIONS GOVERNING BODY DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DRAFT FORM 990 IS REVIEWED IN DETAIL BY THE SOLE MEMBER'S FINANCE COMMITTEE. THE TREASURER OF THE BOARD OF DIRECTORS OVERSEES THE NON ATTEST SERVICES PROVIDED BY THE AUDITORS, INCLUDING PREPARATION OF FORM 990. THE SOLE MEMBER'S AUDIT COMMITTEE REVIEWS ALL REQUIRED SCHEDULES AND COMPARES THE FINANCIAL DATA TO THE AUDITED FINANCIAL STATEMENTS AND UNDERLYING SUPPORTING INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS MONITORED BY THE BOARD AND REVIEWED ANNUALLY. CONFLICT OF INTEREST STATEMENTS ARE REVIEWED BY A BOARD MEMBER FOR PROPRIETY ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICERS AND KEY EMPLOYEES ARE NOT COMPENSATED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND THROUGH THE NY ATTORNEY GENERAL'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine10PEOPLE UNITED FOR SUSTAINABLE HOUSING
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10PEOPLE UNITED FOR SUSTAINABLE HOUSING IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine11BUFFALO NEIGHBORHOOD STABILIZATION COMPA
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING DEVELOPMENT AND OUTREACH PROGRAM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1HOUSING DEVELOPMENT MANAGING VACANT PROP
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IRS990/TerminateOperationsInd0false
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