Civic Intelligence

Rhe Properties Inc.

990 • Fiscal year 2021 • EIN 27-3649738

Oct 21, 2021 to Dec 31, 2021 • Filed on Aug 11, 2022

Organization ProfileN/A
1300 Piccard Dr 203Rockville, MD 20850

(301) 424-6265

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.02x

Higher debt load relative to assets than 22% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

13th percentile

0.02x

Higher debt load relative to revenue than 13% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

59th percentile

$199,083

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

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

Source year 2021

Revenue Growth

Score unavailable

No value available

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

Source year 2021

Balance Sheet
Liabilities / Assets22nd percentile

Assets

$13,154,507

No earlier filing loaded for comparison.

Net Assets

$12,846,234

No earlier filing loaded for comparison.

Liabilities

$308,273

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin99th percentile

Revenue

$12,820,567

No earlier filing loaded for comparison.

Expenses

$21,585

No earlier filing loaded for comparison.

Net Income

$12,798,982

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$15M$10M$5.0M$0Assets 2021: $13,154,507Liabilities 2021: $308,273Net Assets 2021: $12,846,2342021Assets 2022: $13,091,260Liabilities 2022: $299,794Net Assets 2022: $12,791,4662022Assets 2023: $13,044,006Liabilities 2023: $326,507Net Assets 2023: $12,717,4992023Assets 2024: $13,053,309Liabilities 2024: $392,448Net Assets 2024: $12,660,8612024

Highlighted filing

2021

Assets$13,154,507
Liabilities$308,273
Net Assets$12,846,234
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MRevenue 2021: $12,820,567Expenses 2021: $21,585Net Income 2021: $12,798,9822021Revenue 2022: $887,261Expenses 2022: $942,029Net Income 2022: -$54,7682022Revenue 2023: $1,007,832Expenses 2023: $1,081,799Net Income 2023: -$73,9672023Revenue 2024: $987,743Expenses 2024: $1,044,381Net Income 2024: -$56,6382024

Highlighted filing

2021

Revenue$12,820,567
Expenses$21,585
Net Income$12,798,982
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 21, 2021 to Dec 31, 2021
Signed
Aug 11, 2022
Return Version
2021v4.2
Gross Receipts
$12,820,567
Mission and Program Overview

Mission

Rhe's principle mission is the creation and sustainability of affordable housing in the city of rockville, md. Rhe manages the u.s. Department of housing and urban development's (hud) housing choice voucher program (section 8) and public housing programs in the city of rockville, md. Additionally rhe has created a number of wholly owned subsidiary entities that hold other affordable housing assets.

Rhe's principle mission is the creation and sustainability of affordable housing in the city of rockville, md.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$13,137,365▲ $13,137,365
Cash and Non-Interest-Bearing Accounts-$13,165-
Prepaid Expenses and Deferred Charges-$2,897-
Accounts Receivable-$220-
Total Assets$0$13,154,507▲ $13,154,507
Other Assets Total$0$860▲ $860
Liabilities
Mortgage Notes Payable Secured by Investment Property-$277,536-
Accounts Payable and Accrued Expenses-$13,698-
Other Liabilities$0$12,997▲ $12,997
Deferred Revenue-$4,042-
Total Liabilities$0$308,273▲ $308,273
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$12,846,234-
Total Net Assets Fund Balance$0$12,846,234▲ $12,846,234
Total Liabilities and Net Assets / Fund Balance$0$13,154,507▲ $13,154,507

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,125,827$136,251$10,262,078
Land$3,000,000-$3,000,000
Leasehold Improvements$7,093-$7,093
Equipment$4,445-$4,445
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleOtherTotal
Christele EtienblaDeputy Director$139,951$139,951

Board Members and Trustees

NameTitle
Ed DuffyChair
James HendrickVice President/director
Stacy KaplowitzDirector
Steven MarrDirector
Jessica AndersonExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$12,800,000
Program Service Revenue
$14,900
Investment Income
$0
Other Revenue
$5,667
All Other Contributions
$12,800,000
Change in Net Assets
$12,798,982

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,820,567
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$12,820,567
Total Revenue per Form 990
$12,820,567
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,585
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
Depreciation Depletion$13,245--$13,245
Office Expenses$3,636--$3,636
Interest$3,200--$3,200
Insurance$278--$278
Occupancy$165--$165
Other Expenses$61--$61
Total Functional Expenses$21,585$0$0$21,585

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$21,585
Total Expenses per Audited Statements$21,585
Total Expenses per Form 990$21,585
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other$11,097
Tenant Security Deposit$1,900
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

“A copy of the form 990 is provided to all members of the governing body prior to the form being filed. The form is reviewed and discussed among the members of the governing body.”

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

“Officers, directors or trustees, and key employees required to disclose annually interest that could give rise to conflicts.”

Form 990, Part VI, Section C, Line 19

“All governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Rhe Properties Inc
EIN
27-3649738
Phone
3014246265
Address
1300 PICCARD DR 203, ROCKVILLE, MD 20850

Signing Officer

Name
Jessica Anderson
Title
Executive Director
Phone
3014246265
Signed
2022-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jessica Anderson
Formed
2010
Legal Domicile
Md
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
14 SYLVAN WAY, PARSIPPANY, NJ 07054-3801
Preparer
Lori Rothe Yokobosky CPA
Phone
9732283500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Transfer of asset 47,252.”

FORM 990 XII LINE 2C:

“The organization has a committee responsible for the oversight of the audit as well as the selection of the independent accountant.”

FORM 990:

“Enclosed herewith is the 2021 form 990 for the rhe properties, inc ein 27-3649738, presenting the initial filing and first tax return for this entity as a public charities not for profit corporation. Prior to this filing, the organization filed as a c corporation filing form 1120s. Rhe properties plans on filing the final corporate return for the tax period beginning january 1, 2021 and ending october 21, 2021. There was no tax due.”

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0199083
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY PRIOR TO THE FORM BEING FILED. THE FORM IS REVIEWED AND DISCUSSED AMONG THE MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS, DIRECTORS OR TRUSTEES, AND KEY EMPLOYEES REQUIRED TO DISCLOSE ANNUALLY INTEREST THAT COULD GIVE RISE TO CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRANSFER OF ASSET 47,252.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS A COMMITTEE RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AS WELL AS THE SELECTION OF THE INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ENCLOSED HEREWITH IS THE 2021 FORM 990 FOR THE RHE PROPERTIES, INC EIN 27-3649738, PRESENTING THE INITIAL FILING AND FIRST TAX RETURN FOR THIS ENTITY AS A PUBLIC CHARITIES NOT FOR PROFIT CORPORATION. PRIOR TO THIS FILING, THE ORGANIZATION FILED AS A C CORPORATION FILING FORM 1120S. RHE PROPERTIES PLANS ON FILING THE FINAL CORPORATE RETURN FOR THE TAX PERIOD BEGINNING JANUARY 1, 2021 AND ENDING OCTOBER 21, 2021. THERE WAS NO TAX DUE.
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, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 XII LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990:
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
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IRS990ScheduleR/TransferToOtherOrgInd00
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt013154507
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt012800000
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt021585
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt0308273
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
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IRS990/TotalOtherCompensationAmt049663
IRS990/TotalProgramServiceExpensesAmt021585
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt020567
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt012820567
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IRS990/TotalVolunteersCnt00
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/USAddress/AddressLine1Txt01300 PICCARD DR 203
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IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JESSICA ANDERSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03014246265
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RHE PROPERTIES INC
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ReturnHeader/Filer/PhoneNum03014246265
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,154,507
Liabilities
$308,273
Net assets
$12,846,234
Revenue
$12,820,567
Expenses
$21,585
Net income
$12,798,982
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.1$0.39$12.7$0.99$1.04$0.06
2023Detailed filing. Detailed filing data is available for this year.$13.0$0.33$12.7$1.01$1.08$0.07
2022Detailed filing. Detailed filing data is available for this year.$13.1$0.30$12.8$0.89$0.94$0.05
2021Detailed filing. Detailed filing data is available for this year.$13.2$0.31$12.8$12.8$0.02$12.8