Civic Intelligence

Cynthia Gardens Housing Development Fund Company Inc.

990 • Fiscal year 2017 • EIN 27-3976548

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 15, 2018

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

60th percentile

1.08x

Higher debt load relative to assets than 60% of similar nonprofits.

2017 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

95th percentile

29.52x

Higher debt load relative to revenue than 95% of similar nonprofits.

2017 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2017

Net Margin

8th percentile

-87%

Higher net margin than 8% of similar nonprofits.

2017 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

58th percentile

$61,000

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 116.0% of source-year revenue.

2017 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2017

Asset Growth

39th percentile

-3.2%

Faster asset growth than 39% of similar nonprofits.

2017 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

55th percentile

1.4%

Faster revenue growth than 55% of similar nonprofits.

2017 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$1,440,241

Down $47,942 (-3.2%) from 2016

Net Assets

Down

-$111,698

Down $45,988 (-70%) from 2016

Liabilities

Down

$1,551,939

Down $1,954 (-0.1%) from 2016

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin8th percentile

Revenue

Up

$52,569

Up $744 (+1.4%) from 2016

Expenses

Up

$98,557

Up $3,483 (+3.7%) from 2016

Net Income

Down

-$45,988

Down $2,739 (-6.3%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth39th 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

2017

Assets$1,440,241
Liabilities$1,551,939
Net Assets-$111,698
Open 2017 Filing

Operations Trend

Revenue Growth55th 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

2017

Revenue$52,569
Expenses$98,557
Net Income-$45,988
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 15, 2018
Return Version
2017v2.2
Gross Receipts
$52,569
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$1,451,897$1,395,690▼ $56,207
Cash and Non-Interest-Bearing Accounts$5,602$7,208▲ $1,606
Prepaid Expenses and Deferred Charges$1,994$2,768▲ $774
Accounts Receivable$488$0▼ $488
Total Assets$1,488,183$1,440,241▼ $47,942
Other Assets Total$28,202$34,575▲ $6,373
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,521,000$1,521,000→ $0
Other Liabilities$30,650$29,424▼ $1,226
Accounts Payable and Accrued Expenses$2,243$1,515▼ $728
Total Liabilities$1,553,893$1,551,939▼ $1,954
Net Assets / Fund Balance
Unrestricted Net Assets$-65,710$-111,698▼ $45,988
Total Net Assets Fund Balance$-65,710$-111,698▼ $45,988
Total Liabilities and Net Assets / Fund Balance$1,488,183$1,440,241▼ $47,942

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,377,551$233,312$1,610,863
Land$16,000-$16,000
Equipment$2,139$11,902$14,041
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Stephanie J SimeonExecutive DirectorFT$61,000$61,000

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
$52,569
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-45,988
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$98,557
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$57,307--$57,307
Occupancy$4,706$1,569-$6,275
Insurance$1,292$431-$1,723
Other Expenses$468$467-$935
Office Expenses$112$12-$124
Total Functional Expenses$95,220$3,337$0$98,557
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$26,674
Tenant Security Deposits$2,750
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
No
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

“Form 990 is reviewed with a representative of the audit firm by the board of directors who then authorize the return to be signed and filed.”

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 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
2018-03-15
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, 2017.”

Financial Statement Notes

PART X, LINE 2:

“The entity 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 entity has also been classified by the internal revenue service as an entity that is not a private foundation.”

Raw XML Appendix398 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/TotalLiabilityAmt029424
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED WITH A REPRESENTATIVE OF THE AUDIT FIRM BY THE BOARD OF DIRECTORS WHO THEN AUTHORIZE THE RETURN TO BE SIGNED AND FILED.
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/ExplanationTxt2INFORMATION AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO CHANGES HAVE TAKEN PLACE DURING THE FISCAL YEAR ENDED DECEMBER 31, 2017.
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 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
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0191 NORTH STREET SUITE 1
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/TotalAssetsBOYAmt01488183
IRS990/TotalAssetsEOYAmt01440241
IRS990/TotalAssetsGrp/BOYAmt01488183
IRS990/TotalAssetsGrp/EOYAmt01440241
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03337
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt095220
IRS990/TotalFunctionalExpensesGrp/TotalAmt098557
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01553893
IRS990/TotalLiabilitiesEOYAmt01551939
IRS990/TotalLiabilitiesGrp/BOYAmt01553893
IRS990/TotalLiabilitiesGrp/EOYAmt01551939
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-65710
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-111698
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt095220
IRS990/TotalProgramServiceRevenueAmt052569
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt052569
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt052569
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01488183
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01440241
IRS990/TotReportableCompRltdOrgAmt061000
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-65710
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-111698
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHANIE SIMEON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07168827661
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-15
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/AtSubmissionCreationDeviceId04A2558486EEC6DB97E73B1E5FE2049900CCE7E47
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId05D794220C68C161820A811785299AFD302F4C684
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt066.153.85.106
ReturnHeader/FilingSecurityInformation/IPDt02018-03-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:34:55
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/ReturnTs02018-04-17T12:29:13-05:00
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
$1,440,241
Liabilities
$1,551,939
Net assets
-$111,698
Revenue
$52,569
Expenses
$98,557
Net income
-$45,988
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
2017Detailed filing. Detailed filing data is available for this year.$1.44$1.55$0.11$0.05$0.10$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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