Civic Intelligence

Cynthia Gardens Housing Development Fund Company Inc.

990 • Fiscal year 2016 • EIN 27-3976548

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 18, 2017

Organization ProfileWWW.HOCN.ORG
191 North Street Suite 1Buffalo, NY 14201

(716) 882-7661

Siviq Scores

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

Liabilities / Assets

58th percentile

1.04x

Higher debt load relative to assets than 58% of similar nonprofits.

2016 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

29.98x

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

2016 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2016

Net Margin

8th percentile

-83%

Higher net margin than 8% of similar nonprofits.

2016 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

54th percentile

$63,101

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 121.8% of source-year revenue.

2016 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2016

Asset Growth

40th percentile

-2.7%

Faster asset growth than 40% of similar nonprofits.

2016 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

77th percentile

9.2%

Faster revenue growth than 77% of similar nonprofits.

2016 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$1,488,183

Down $41,338 (-2.7%) from 2015

Net Assets

Down

-$65,710

Down $43,249 (-193%) from 2015

Liabilities

Up

$1,553,893

Up $1,911 (+0.1%) from 2015

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin8th percentile

Revenue

Up

$51,825

Up $4,376 (+9.2%) from 2015

Expenses

Down

$95,074

Down $5,617 (-5.6%) from 2015

Net Income

Up

-$43,249

Up $9,993 (+19%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$2.0M$1.0M$0-$1.0MAssets 2014: $1,580,501Liabilities 2014: $1,549,720Net Assets 2014: $30,7812014Assets 2015: $1,529,521Liabilities 2015: $1,551,982Net Assets 2015: -$22,4612015Assets 2016: $1,488,183Liabilities 2016: $1,553,893Net Assets 2016: -$65,7102016Assets 2017: $1,440,241Liabilities 2017: $1,551,939Net Assets 2017: -$111,6982017Assets 2018: $1,382,272Liabilities 2018: $1,561,121Net Assets 2018: -$178,8492018Assets 2019: $1,331,912Liabilities 2019: $1,557,587Net Assets 2019: -$225,6752019Assets 2020: $1,287,464Liabilities 2020: $1,561,051Net Assets 2020: -$273,5872020Assets 2021: $1,242,733Liabilities 2021: $1,572,405Net Assets 2021: -$329,6722021Assets 2022: $1,266,538Liabilities 2022: $1,578,565Net Assets 2022: -$312,0272022Assets 2023: $1,198,543Liabilities 2023: $1,623,963Net Assets 2023: -$425,4202023Assets 2024: $1,150,364Liabilities 2024: $1,625,963Net Assets 2024: -$475,5992024Assets 2025: $1,092,285Liabilities 2025: $1,634,230Net Assets 2025: -$541,9452025

Highlighted filing

2016

Assets$1,488,183
Liabilities$1,553,893
Net Assets-$65,710
Open 2016 Filing

Operations Trend

Revenue Growth77th percentile

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

$200K$100K$0-$100K-$200KRevenue 2014: $55,652Expenses 2014: $133,772Net Income 2014: -$78,1202014Revenue 2015: $47,449Expenses 2015: $100,691Net Income 2015: -$53,2422015Revenue 2016: $51,825Expenses 2016: $95,074Net Income 2016: -$43,2492016Revenue 2017: $52,569Expenses 2017: $98,557Net Income 2017: -$45,9882017Revenue 2018: $49,120Expenses 2018: $116,271Net Income 2018: -$67,1512018Revenue 2019: $52,921Expenses 2019: $99,747Net Income 2019: -$46,8262019Revenue 2020: $52,346Expenses 2020: $100,258Net Income 2020: -$47,9122020Revenue 2021: $50,263Expenses 2021: $106,348Net Income 2021: -$56,0852021Revenue 2022: $157,907Expenses 2022: $140,262Net Income 2022: $17,6452022Revenue 2023: $42,066Expenses 2023: $155,459Net Income 2023: -$113,3932023Revenue 2024: $88,911Expenses 2024: $139,090Net Income 2024: -$50,1792024Revenue 2025: $59,461Expenses 2025: $125,807Net Income 2025: -$66,3462025

Highlighted filing

2016

Revenue$51,825
Expenses$95,074
Net Income-$43,249
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 18, 2017
Return Version
2016v3.0
Gross Receipts
$51,825
Mission and Program Overview

Mission

Cynthia gardens housing development fund company, inc. Is a not-for-profit corporation organized to run the operations of a low-income apartment complex.

Operation of low-income housing apartments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,503,499$1,451,897▼ $51,602
Cash and Non-Interest-Bearing Accounts$3,647$5,602▲ $1,955
Prepaid Expenses and Deferred Charges$2,263$1,994▼ $269
Accounts Receivable$500$488▼ $12
Total Assets$1,529,521$1,488,183▼ $41,338
Other Assets Total$19,612$28,202▲ $8,590
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,521,000$1,521,000→ $0
Other Liabilities$29,078$30,650▲ $1,572
Accounts Payable and Accrued Expenses$1,904$2,243▲ $339
Total Liabilities$1,551,982$1,553,893▲ $1,911
Net Assets / Fund Balance
Unrestricted Net Assets$-22,461$-65,710▼ $43,249
Total Net Assets Fund Balance$-22,461$-65,710▼ $43,249
Total Liabilities and Net Assets / Fund Balance$1,529,521$1,488,183▼ $41,338

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,430,950$178,813$1,609,763
Land$16,000-$16,000
Equipment$4,947$9,094$14,041
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Stephanie J SimeonExecutive DirectorFT$63,101$63,101

Board Members and Trustees

NameTitle
Eric LanderPresident
Tim FavaroVice President
Charles SaundersMember
Isabel HartenbergSecretary
Kathleen Palka-armstrongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$51,825
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-43,249
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$95,074
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$56,530--$56,530
Insurance$4,021$4,021-$8,042
Occupancy$5,956$662-$6,618
Other Expenses$1,040--$1,040
Office Expenses$189$21-$210
Total Functional Expenses$90,370$4,704$0$95,074
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
Due to Related Party$27,231
Tenant Security Deposits$3,419
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
No
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, Section B, Line 11B

“The draft 990 is provided to all board members for review prior to issuance.”

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

“Before annual performance reports are due to nys home & community renewal, conflict of interest forms are sent out for board members to complete, due august of each year.”

Form 990, Part VI, Section B, Line 15A

“All employee compensation is reviewed and approved by board of directors.”

Form 990, Part VI, Section C, Line 19

“Information available upon request.”

Filing and Contact Details

Filer

Filer Name
Cynthia Gardens Housing Development
EIN
27-3976548
Phone
7168827661
Address
191 NORTH STREET SUITE 1, BUFFALO, NY 14201

Signing Officer

Name
Stephanie Simeon
Title
Executive Director
Phone
7168827661
Signed
2017-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephanie Simeon
Formed
2010
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Bonadio & Co Llp
Address
100 CORPORATE PKWY STE 200, AMHERST, NY 14226
Preparer
Justin N Reid
Phone
7162506600
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“No changes have taken place during the fiscal year ended december 31, 2016.”

Financial Statement Notes

PART X, LINE 2:

“The agency is a not-for-profit corporation that is exempt from income taxes as an organization qualified under section 501(c)(3) of the internal revenue code. The agency has also been classified by the internal revenue service as an entity that is not a private foundation.”

Raw XML Appendix395 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE AGENCY IS A NOT-FOR-PROFIT CORPORATION THAT IS EXEMPT FROM INCOME TAXES AS AN ORGANIZATION QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE AGENCY HAS ALSO BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION.
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE DRAFT 990 IS PROVIDED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO ISSUANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BEFORE ANNUAL PERFORMANCE REPORTS ARE DUE TO NYS HOME & COMMUNITY RENEWAL, CONFLICT OF INTEREST FORMS ARE SENT OUT FOR BOARD MEMBERS TO COMPLETE, DUE AUGUST OF EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INFORMATION AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO CHANGES HAVE TAKEN PLACE DURING THE FISCAL YEAR ENDED DECEMBER 31, 2016.
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 B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0HEART OF THE CITY NEIGHBORHOODS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0161544656
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BUFFALO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd014201
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01529521
IRS990/TotalAssetsEOYAmt01488183
IRS990/TotalAssetsGrp/BOYAmt01529521
IRS990/TotalAssetsGrp/EOYAmt01488183
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04704
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt090370
IRS990/TotalFunctionalExpensesGrp/TotalAmt095074
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01551982
IRS990/TotalLiabilitiesEOYAmt01553893
IRS990/TotalLiabilitiesGrp/BOYAmt01551982
IRS990/TotalLiabilitiesGrp/EOYAmt01553893
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-22461
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-65710
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt090370
IRS990/TotalProgramServiceRevenueAmt051825
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt051825
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt051825
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01529521
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01488183
IRS990/TotReportableCompRltdOrgAmt063101
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-22461
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-65710
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0191 NORTH STREET SUITE 1
IRS990/USAddress/CityNm0BUFFALO
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd014201
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.HOCN.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHANIE SIMEON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07168827661
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-03-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CYNTHIA GARDENS HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FUND COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0CYNT
ReturnHeader/Filer/EIN0273976548
ReturnHeader/Filer/PhoneNum07168827661
ReturnHeader/Filer/USAddress/AddressLine1Txt0191 NORTH STREET SUITE 1
ReturnHeader/Filer/USAddress/CityNm0BUFFALO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd014201
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FA081FEEB9B88C970A8533A67A79AC3E4AAE78E3
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId068B977EB142D73B4BA359F53E64C6711292DFE50
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt04.14.157.194
ReturnHeader/FilingSecurityInformation/IPDt02017-03-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:06:17
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0161131146
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BONADIO & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 CORPORATE PKWY STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AMHERST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd014226
ReturnHeader/PreparerPersonGrp/PhoneNum07162506600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JUSTIN N REID
ReturnHeader/ReturnTs02017-03-23T15:58:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,488,183
Liabilities
$1,553,893
Net assets
-$65,710
Revenue
$51,825
Expenses
$95,074
Net income
-$43,249
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.09$1.63$0.54$0.06$0.13$0.07
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.15$1.63$0.48$0.09$0.14$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$1.62$0.43$0.04$0.16$0.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.27$1.58$0.31$0.16$0.14$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.24$1.57$0.33$0.05$0.11$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.29$1.56$0.27$0.05$0.10$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.33$1.56$0.23$0.05$0.10$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.38$1.56$0.18$0.05$0.12$0.07
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.44$1.55$0.11$0.05$0.10$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.49$1.55$0.07$0.05$0.10$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.53$1.55$0.02$0.05$0.10$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.58$1.55$0.03$0.06$0.13$0.08