Civic Intelligence

Acadia Housing Inc.

990 • Fiscal year 2018 • EIN 27-2994869

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 14, 2019

162 West Street Suite DCromwell, CT 06416

(860) 398-5425

Siviq Scores

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

Liabilities / Assets

90th percentile

0.88x

Higher debt load relative to assets than 90% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

97th percentile

7.46x

Higher debt load relative to revenue than 97% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

25th percentile

-6.2%

Higher net margin than 25% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

42nd percentile

-0.8%

Faster asset growth than 42% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

47th percentile

2.7%

Faster revenue growth than 47% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$4,108,046

Down $35,181 (-0.8%) from 2017

Net Assets

Down

$479,162

Down $30,253 (-5.9%) from 2017

Liabilities

Down

$3,628,884

Down $4,928 (-0.1%) from 2017

Revenue

Up

$486,596

Up $12,842 (+2.7%) from 2017

Expenses

Up

$516,849

Up $13,994 (+2.8%) from 2017

Net Income

Down

-$30,253

Down $1,152 (-4.0%) from 2017

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2012: $1,536,638Liabilities 2012: $1,533,420Net Assets 2012: $3,2182012Assets 2013: $1,530,278Liabilities 2013: $1,509,646Net Assets 2013: $20,6322013Assets 2014: $1,508,942Liabilities 2014: $1,490,107Net Assets 2014: $18,8352014Assets 2015: $3,892,074Liabilities 2015: $3,344,005Net Assets 2015: $548,0692015Assets 2016: $3,845,482Liabilities 2016: $3,306,966Net Assets 2016: $538,5162016Assets 2017: $4,143,227Liabilities 2017: $3,633,812Net Assets 2017: $509,4152017Assets 2018: $4,108,046Liabilities 2018: $3,628,884Net Assets 2018: $479,1622018Assets 2019: $4,089,022Liabilities 2019: $3,641,996Net Assets 2019: $447,0262019Assets 2020: $6,438,189Liabilities 2020: $6,036,930Net Assets 2020: $401,2592020Assets 2021: $6,309,333Liabilities 2021: $6,065,107Net Assets 2021: $244,2262021Assets 2022: $6,164,699Liabilities 2022: $6,098,616Net Assets 2022: $66,0832022

Highlighted filing

2018

Assets$4,108,046
Liabilities$3,628,884
Net Assets$479,162

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2012: $109,5092012Revenue 2013: $237,505Expenses 2013: $220,091Net Income 2013: $17,4142013Revenue 2014: $232,603Expenses 2014: $234,400Net Income 2014: -$1,7972014Revenue 2015: $763,517Expenses 2015: $295,062Net Income 2015: $468,4552015Revenue 2016: $478,101Expenses 2016: $487,654Net Income 2016: -$9,5532016Revenue 2017: $473,754Expenses 2017: $502,855Net Income 2017: -$29,1012017Revenue 2018: $486,596Expenses 2018: $516,849Net Income 2018: -$30,2532018Revenue 2019: $487,567Expenses 2019: $519,703Net Income 2019: -$32,1362019Revenue 2020: $549,353Expenses 2020: $595,120Net Income 2020: -$45,7672020Revenue 2021: $680,945Expenses 2021: $837,978Net Income 2021: -$157,0332021Revenue 2022: $665,361Expenses 2022: $843,504Net Income 2022: -$178,1432022

Highlighted filing

2018

Revenue$486,596
Expenses$516,849
Net Income-$30,253
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 14, 2019
Return Version
2018v3.1
Gross Receipts
$486,596
Mission and Program Overview

Mission

To provide decent housing that is affordable to low and moderate income persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,488,173$3,416,573▼ $71,600
Savings and Temporary Cash Investments$594,384$625,395▲ $31,011
Cash and Non-Interest-Bearing Accounts$28,269$35,655▲ $7,386
Intangible Assets$19,550$14,944▼ $4,606
Prepaid Expenses and Deferred Charges$11,121$7,419▼ $3,702
Other Notes and Loans Receivable, Net$1,730$460▼ $1,270
Total Assets$4,143,227$4,108,046▼ $35,181
Other Assets Total-$7,600-
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,561,363$3,557,481▼ $3,882
Accounts Payable and Accrued Expenses$39,448$36,025▼ $3,423
Other Liabilities$31,041$33,126▲ $2,085
Deferred Revenue$1,960$2,252▲ $292
Total Liabilities$3,633,812$3,628,884▼ $4,928
Net Assets / Fund Balance
Unrestricted Net Assets$509,415$479,162▼ $30,253
Total Net Assets Fund Balance$509,415$479,162▼ $30,253
Total Liabilities and Net Assets / Fund Balance$4,143,227$4,108,046▼ $35,181

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,574,051$345,819$2,919,870
Land$794,000-$794,000
Equipment$48,522$51,647$100,169
Compensation and Service Providers

Board Members and Trustees

NameTitle
Matthew J ScibekPresident
Richard PierceDirector
Reginald L BabcockSecretary
Susan GundermanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$308,726
Program Service Revenue
$177,524
Investment Income
$346
Other Revenue
$0
Change in Net Assets
$-30,253

Audited Revenue Reconciliation

Revenue per Audited Statements
$486,596
Total Revenue per Audited Statements
$486,596
Total Revenue per Form 990
$486,596
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$516,849
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
Occupancy$224,472--$224,472
Interest$129,870--$129,870
Depreciation Depletion$92,414--$92,414
Fees for Services Management-$48,193-$48,193
Fees for Services Accounting-$11,917-$11,917
All Other Expenses-$994-$994
Other Expenses-$672-$672
Total Functional Expenses$446,756$70,093$0$516,849

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$516,849
Total Expenses per Audited Statements$516,849
Total Expenses per Form 990$516,849
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$33,126
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
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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, Page 6, Part VI, Line 3

Wildwood property management, llc: provides all management duties and functions required to be performed by the organization for dartmouth village. The management company is owned by a director of the organization, matthew scibek. Mjkh property services, llc: provides all management duties and functions to be performed by the organization for nutmeg park. Both management companies provide services which includes enforcement of leases, occupancy, marketing, maintenance, cash collection and disbursement and all other management functions.

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

The organization's board of directors reviews the annual form 990 and financial statements.

Form 990, Page 6, Part VI, Line 12C

To ensure the organization operates in a manner consistent with charitable purposes and does not not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. B. Whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.

Form 990, Page 6, Part VI, Line 15A

A. A voting member of the governing board who receives compensation, directly orindirectly, from the organization for services is precluded from voting on matters pertaining to that member's compensation. B. A voting member of any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from the organization for services is precluded from voting on matters pertaining to that member's compensation. C. No voting member of the governing board or any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from the organization, either individually or collectively, is prohibited from providing information to any committee regarding compensation.

Form 990, Page 6, Part VI, Line 19

Copies of governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Acadia Housing Inc
EIN
27-2994869
Phone
8603985425
Address
162 WEST STREET SUITE D, CROMWELL, CT 06416
Doing Business As
Dartmouth Village and Nutmeg Park

Signing Officer

Name
Matthew J Scibek
Title
President
Phone
8603985425
Signed
2019-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew J Scibek
Formed
2010
Legal Domicile
Ct
Voting Board Members
4
Independent Board Members
3
Employees
0

Preparer

Firm
Hoyt Filippetti & Malaghan LLC
Address
1041 POQUONNOCK RD, GROTON, CT 06340-4211
Preparer
Paul R Filippetti
Phone
8605369685
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

Dartmouth village and nutmeg park

Financial Statement Notes

Schedule D, Page 3, Part X

The company is a non-stock, non-profit corporation, which is exempt from federal and state income taxes on exempt function income as a public charity under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes has been made in the accompanying financial statements. The project did not recognize any liability for uncertain tax positions as defined by accounting principles generally accepted in the united states of america.

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IRS990ScheduleD/EquipmentGrp/DepreciationAmt051647
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0100169
IRS990ScheduleD/ExpensesSubtotalAmt0516849
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0794000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt033126
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0486596
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY IS A NON-STOCK, NON-PROFIT CORPORATION, WHICH IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON EXEMPT FUNCTION INCOME AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE PROJECT DID NOT RECOGNIZE ANY LIABILITY FOR UNCERTAIN TAX POSITIONS AS DEFINED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03416573
IRS990ScheduleD/TotalExpensesPerForm990Amt0516849
IRS990ScheduleD/TotalLiabilityAmt033126
IRS990ScheduleD/TotalRevenuePerForm990Amt0486596
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0486596
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0516849
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0WILDWOOD PROPERTY MANAGEMENT LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MANAGEMENT FEES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0MATTHEW SCIBEK, A FOUNDING AND CURRENT BOARD MEMBER OF THE ORGANIZATION, HAS A DIRECT FINANCIAL INTEREST IN THE MANAGEMENT COMPANY (WILDWOOD PROPERTY MANAGEMENT, LLC) THAT OPERATES DARTMOUTH VILLAGE. UNDER THE TERMS OF THE AGREEMENT, THE MANAGEMENT COMPANY RECEIVES A MONTHLY PER OCCUPIED UNIT MANAGEMENT FEE, PLUS CHARGES FOR ADMINISTRATION AND MAINTENANCE. IN 2018 THESE FEES TOTALLED 36,276.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DARTMOUTH VILLAGE AND NUTMEG PARK
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WILDWOOD PROPERTY MANAGEMENT, LLC: PROVIDES ALL MANAGEMENT DUTIES AND FUNCTIONS REQUIRED TO BE PERFORMED BY THE ORGANIZATION FOR DARTMOUTH VILLAGE. THE MANAGEMENT COMPANY IS OWNED BY A DIRECTOR OF THE ORGANIZATION, MATTHEW SCIBEK. MJKH PROPERTY SERVICES, LLC: PROVIDES ALL MANAGEMENT DUTIES AND FUNCTIONS TO BE PERFORMED BY THE ORGANIZATION FOR NUTMEG PARK. BOTH MANAGEMENT COMPANIES PROVIDE SERVICES WHICH INCLUDES ENFORCEMENT OF LEASES, OCCUPANCY, MARKETING, MAINTENANCE, CASH COLLECTION AND DISBURSEMENT AND ALL OTHER MANAGEMENT FUNCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S BOARD OF DIRECTORS REVIEWS THE ANNUAL FORM 990 AND FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. B. WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO THE ORGANIZATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A. A VOTING MEMBER OF THE GOVERNING BOARD WHO RECEIVES COMPENSATION, DIRECTLY ORINDIRECTLY, FROM THE ORGANIZATION FOR SERVICES IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION. B. A VOTING MEMBER OF ANY COMMITTEE WHOSE JURISDICTION INCLUDES COMPENSATION MATTERS AND WHO RECEIVES COMPENSATION, DIRECTLY OR INDIRECTLY, FROM THE ORGANIZATION FOR SERVICES IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION. C. NO VOTING MEMBER OF THE GOVERNING BOARD OR ANY COMMITTEE WHOSE JURISDICTION INCLUDES COMPENSATION MATTERS AND WHO RECEIVES COMPENSATION, DIRECTLY OR INDIRECTLY, FROM THE ORGANIZATION, EITHER INDIVIDUALLY OR COLLECTIVELY, IS PROHIBITED FROM PROVIDING INFORMATION TO ANY COMMITTEE REGARDING COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COPIES OF GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt070093
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0446756
IRS990/TotalFunctionalExpensesGrp/TotalAmt0516849
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03633812
IRS990/TotalLiabilitiesEOYAmt03628884
IRS990/TotalLiabilitiesGrp/BOYAmt03633812
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IRS990/TotalProgramServiceExpensesAmt0446756
IRS990/TotalProgramServiceRevenueAmt0177524
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0486596
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04143227
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04108046
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0162 WEST STREET SUITE D
IRS990/USAddress/CityNm0CROMWELL
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW J SCIBEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08603985425
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-06-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACADIA HOUSING INC
ReturnHeader/Filer/BusinessNameControlTxt0ACAD
ReturnHeader/Filer/EIN0272994869
ReturnHeader/Filer/PhoneNum08603985425
ReturnHeader/Filer/USAddress/AddressLine1Txt0162 WEST STREET SUITE D
ReturnHeader/Filer/USAddress/CityNm0CROMWELL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006416
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C97D4A090AD480F988CB8861E82489E823F900AA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DB208F77E20E3C0E2B329319B012D99439EA4ACD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt054.211.71.176
ReturnHeader/FilingSecurityInformation/IPDt02019-06-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm012:28:30
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201696994
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOYT FILIPPETTI & MALAGHAN LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01041 POQUONNOCK RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GROTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0063404211
ReturnHeader/PreparerPersonGrp/PhoneNum08605369685
ReturnHeader/PreparerPersonGrp/PreparationDt02019-06-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL R FILIPPETTI
ReturnHeader/ReturnTs02019-06-18T12:28:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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