Civic Intelligence

Ridge Oak II Inc.

990 • Fiscal year 2016 • EIN 30-0407213

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 11, 2016

Organization ProfileWWW.RIDGEOAK.ORG
150 Manchester DriveBasking Ridge, NJ 07920

(908) 221-0266

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.18x

Higher debt load relative to assets than 33% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

38th percentile

1.98x

Higher debt load relative to revenue than 38% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2016

Net Margin

25th percentile

-44%

Higher net margin than 25% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

80th percentile

$189,081

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 47.5% of source-year revenue.

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

Asset Growth

23rd percentile

-3.8%

Faster asset growth than 23% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

48th percentile

2.6%

Faster revenue growth than 48% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$4,356,504

Down $807,404 (-16%) from 2012

Net Assets

Down

$3,566,745

Down $762,228 (-18%) from 2012

Liabilities

Down

$789,759

Down $45,176 (-5.4%) from 2012

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin25th percentile

Revenue

$398,186

No earlier filing loaded for comparison.

Expenses

Up

$571,916

Up $15,799 (+2.8%) from 2012

Net Income

-$173,730

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $5,570,511Liabilities 2010: $870,600Net Assets 2010: $4,699,9112010Assets 2011: $5,346,822Liabilities 2011: $848,193Net Assets 2011: $4,498,6292011Assets 2012: $5,163,908Liabilities 2012: $834,935Net Assets 2012: $4,328,9732012Assets 2016: $4,356,504Liabilities 2016: $789,759Net Assets 2016: $3,566,7452016Assets 2017: $4,178,395Liabilities 2017: $875,216Net Assets 2017: $3,303,1792017Assets 2018: $3,878,462Liabilities 2018: $771,844Net Assets 2018: $3,106,6182018Assets 2021: $3,343,140Liabilities 2021: $777,038Net Assets 2021: $2,566,1022021Assets 2022: $3,159,692Liabilities 2022: $781,697Net Assets 2022: $2,377,9952022Assets 2023: $2,935,431Liabilities 2023: $756,400Net Assets 2023: $2,179,0312023Assets 2025: $2,695,921Liabilities 2025: $805,855Net Assets 2025: $1,890,0662025

Highlighted filing

2016

Assets$4,356,504
Liabilities$789,759
Net Assets$3,566,745
Open 2016 Filing

Operations Trend

Revenue Growth48th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $529,7312010Expenses 2011: $540,6282011Expenses 2012: $556,1172012Revenue 2016: $398,186Expenses 2016: $571,916Net Income 2016: -$173,7302016Revenue 2017: $416,253Expenses 2017: $679,819Net Income 2017: -$263,5662017Revenue 2018: $412,467Expenses 2018: $609,028Net Income 2018: -$196,5612018Revenue 2021: $431,993Expenses 2021: $633,843Net Income 2021: -$201,8502021Revenue 2022: $450,702Expenses 2022: $633,943Net Income 2022: -$183,2412022Revenue 2023: $480,654Expenses 2023: $676,153Net Income 2023: -$195,4992023Revenue 2025: $569,376Expenses 2025: $721,700Net Income 2025: -$152,3242025

Highlighted filing

2016

Revenue$398,186
Expenses$571,916
Net Income-$173,730
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 11, 2016
Return Version
2015v2.1
Gross Receipts
$398,186
Mission and Program Overview

Mission

To operate a residential housing project in basking ridge, nj for low income elderly persons.

To operate a residential housing project in basking ridge, nj primarily for low income elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,089,159$3,858,103▼ $231,056
Savings and Temporary Cash Investments$377,901$410,863▲ $32,962
Cash and Non-Interest-Bearing Accounts$15,090$40,783▲ $25,693
Prepaid Expenses and Deferred Charges$27,312$27,402▲ $90
Accounts Receivable$3,565$3,630▲ $65
Total Assets$4,528,394$4,356,504▼ $171,890
Other Assets Total$15,367$15,723▲ $356
Liabilities
Other Liabilities$756,405$757,050▲ $645
Accounts Payable and Accrued Expenses$16,147$16,986▲ $839
Escrow Account Liability$15,367$15,723▲ $356
Total Liabilities$787,919$789,759▲ $1,840
Net Assets / Fund Balance
Unrestricted Net Assets$3,740,475$3,566,745▼ $173,730
Total Net Assets Fund Balance$3,740,475$3,566,745▼ $173,730
Total Liabilities and Net Assets / Fund Balance$4,528,394$4,356,504▼ $171,890

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,771,058$2,710,439$6,481,497
Equipment$4,062$97,335$101,397
Leasehold Improvements$62,632$14,093$76,725
Land$20,351-$20,351
Compensation and Service Providers
Top Officer Pay80th percentile

Board Members and Trustees

NameTitle
Donald FeuerbachPresident as of 1/1/16
Russel E Archer JrPresident Through 12/31/15
Bruce WalkerVice President as of 1/1/16
CLAIRE L O'BRIENVice President Through 12/31/2015
Bonnie KellyExecutive Director
Charles J LindTrustee
John WojnarTrustee
Judith AdamcsikTrustee
Royal GarmsTrustee
William AdamsTrustee
Patricia R GiammarinaroSecretary
Robert B BoyeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$377,939
Investment Income
$19,513
Other Revenue
$734
Change in Net Assets
$-173,730

Audited Revenue Reconciliation

Revenue per Audited Statements
$398,186
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$398,186
Total Revenue per Form 990
$398,186
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$467,440
Salaries, Compensation, and Employee Benefits$104,476
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$240,102--$240,102
Other Salaries and Wages$25,094$40,944-$66,038
Occupancy$49,182--$49,182
Other Employee Benefits$12,649$20,639-$33,288
Fees for Services Management-$28,848-$28,848
Insurance$26,328--$26,328
Fees for Services Accounting-$10,313-$10,313
Office Expenses-$7,280-$7,280
Payroll Taxes$1,957$3,193-$5,150
Other Expenses$2,738--$2,738
All Other Expenses-$1,625-$1,625
Fees for Services Legal-$556-$556
Conferences and Meetings-$500-$500
Total Functional Expenses$458,018$113,898$0$571,916

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$571,916
Total Expenses per Audited Statements$571,916
Total Expenses per Form 990$571,916
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
Loan From Ridge Oak Management, Inc.$641,511
Loan From Ridge Oak, Inc.$115,539
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
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Ridge oak management, inc. Is a related organization that is a supporting organization to ridge oak ii, inc. Ridge oak management provides managment services related to the program service of low income senior housing.”

Form 990, Part VI, Section B, Line 11

“A copy of the 990 is provided to the executive director prior to filing. The executive director makes this copy available to all board members who may review and ask questions. All questions are resolved before final filing of the 990.”

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

“All new board members are required to review and sign a hud conflict of interest policy and disclosure certification (4571.3 rev-1). These certifications are reviewed annually.”

Form 990, Part VI, Section C, Line 18

“The organization's form 990 is available upon request and on guidestar.org”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest and financial statements may be made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Ridge Oak Ii Inc
EIN
30-0407213
Phone
9082210266
Address
150 MANCHESTER DRIVE, BASKING RIDGE, NJ 07920

Signing Officer

Name
Bonnie Kelly
Title
Exec. Director
Phone
9082210266
Signed
2016-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bonnie Kelly
Formed
2001
Legal Domicile
Nj
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
SOBEL AND CO LLC CPA'S
Address
293 EISENHOWER PARKWAY, LIVINGSTON, NJ 07039-1711
Preparer
Ron Matan
Phone
9739949494
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The process has not changed from the prior year.”

Financial Statement Notes

PART IV, LINE 2B:

“Tenant security deposits are held in a separate interest bearing bank account in the name of the project in trust for the tenants. Under certain circumstances, tenant security deposits may be applied to unpaid rent or other tenant obligations.”

PART X, LINE 2:

“The project is exempt from federal and state income taxes, under section 501(c)(3) of the internal revenue code. The project follows standards that provide clarification on accounting for uncertainty in income taxes recognized in the project's financial statements. The guidance prescribes a recognition threshold and measurement attribute for the recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provides guidance on de-recognition, classification, interest and penalties, disclosure and transition. The project's policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense. No interest and penalties were recorded during the years ended 2016 and 2015. The tax years subject to audit by federal and state jurisdictions are 2012 and forward. At june 30, 2016 and 2015, there are no significant income tax uncertainties.”

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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt049182
IRS990/OccupancyGrp/TotalAmt049182
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07280
IRS990/OfficeExpensesGrp/TotalAmt07280
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt015367
IRS990/OtherAssetsTotalGrp/EOYAmt015723
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt020639
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012649
IRS990/OtherEmployeeBenefitsGrp/TotalAmt033288
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1REAL ESTATE TAXES
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3FINANCIAL EXPENSES- MIS
IRS990/OtherExpensesGrp/ProgramServicesAmt069978
IRS990/OtherExpensesGrp/ProgramServicesAmt125542
IRS990/OtherExpensesGrp/ProgramServicesAmt24448
IRS990/OtherExpensesGrp/ProgramServicesAmt32738
IRS990/OtherExpensesGrp/TotalAmt069978
IRS990/OtherExpensesGrp/TotalAmt125542
IRS990/OtherExpensesGrp/TotalAmt24448
IRS990/OtherExpensesGrp/TotalAmt32738
IRS990/OtherLiabilitiesGrp/BOYAmt0756405
IRS990/OtherLiabilitiesGrp/EOYAmt0757050
IRS990/OtherRevenueMiscGrp/BusinessCd0531120
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt0734
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0734
IRS990/OtherRevenueTotalAmt0734
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt040944
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt025094
IRS990/OtherSalariesAndWagesGrp/TotalAmt066038
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03193
IRS990/PayrollTaxesGrp/ProgramServicesAmt01957
IRS990/PayrollTaxesGrp/TotalAmt05150
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt027312
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt027402
IRS990/PrincipalOfficerNm0BONNIE KELLY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/Desc0TENANT ASSISTANCE PAYM
IRS990/ProgramServiceRevenueGrp/Desc1RENT - TENANT
IRS990/ProgramServiceRevenueGrp/Desc2LAUNDRY REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0209506
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1166601
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21832
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0209506
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1166601
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21832
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt031559
IRS990/PYOtherExpensesAmt0490603
IRS990/PYOtherRevenueAmt0595
IRS990/PYProgramServiceRevenueAmt0355873
IRS990/PYRevenuesLessExpensesAmt0-199026
IRS990/PYSalariesCompEmpBnftPaidAmt096450
IRS990/PYTotalExpensesAmt0587053
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0388027
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-173730
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0377939
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0377901
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0410863
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt019513
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt031559
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt011555
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt015285
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt020284
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt098196
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0377939
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0355873
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0347330
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0349366
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0366004
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01796512
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt019513
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt031559
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt011555
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt015285
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt020284
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt098196
IRS990ScheduleA/InvestmentIncomeCYPct00.05170
IRS990ScheduleA/InvestmentIncomePYPct00.04410
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0734
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0595
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0712
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0607
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0173
IRS990ScheduleA/OtherIncome509Grp/TotalAmt02821
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.94680
IRS990ScheduleA/PublicSupportPY509Pct00.95380
IRS990ScheduleA/PublicSupportTotal509Amt01796512
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0377939
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0355873
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0347330
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0349366
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0366004
IRS990ScheduleA/Total509Grp/TotalAmt01796512
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0398186
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0388027
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0359597
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0365258
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0386461
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01897529
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03771058
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02710439
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06481497
IRS990ScheduleD/EquipmentGrp/BookValueAmt04062
IRS990ScheduleD/EquipmentGrp/DepreciationAmt097335
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0101397
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0571916
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt020351
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt020351
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt062632
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt014093
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt076725
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0115539
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1641511
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LOAN FROM RIDGE OAK, INC.
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOAN FROM RIDGE OAK MANAGEMENT, INC.
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0398186
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TENANT SECURITY DEPOSITS ARE HELD IN A SEPARATE INTEREST BEARING BANK ACCOUNT IN THE NAME OF THE PROJECT IN TRUST FOR THE TENANTS. UNDER CERTAIN CIRCUMSTANCES, TENANT SECURITY DEPOSITS MAY BE APPLIED TO UNPAID RENT OR OTHER TENANT OBLIGATIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE PROJECT IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES, UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PROJECT FOLLOWS STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE PROJECT'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE PROJECT'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEARS ENDED 2016 AND 2015. THE TAX YEARS SUBJECT TO AUDIT BY FEDERAL AND STATE JURISDICTIONS ARE 2012 AND FORWARD. AT JUNE 30, 2016 AND 2015, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03858103
IRS990ScheduleD/TotalExpensesPerForm990Amt0571916
IRS990ScheduleD/TotalLiabilityAmt0757050
IRS990ScheduleD/TotalRevenuePerForm990Amt0398186
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0398186
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0571916
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$4,356,504
Liabilities
$789,759
Net assets
$3,566,745
Revenue
$398,186
Expenses
$571,916
Net income
-$173,730
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.70$0.81$1.89$0.57$0.72$0.15
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.94$0.76$2.18$0.48$0.68$0.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.16$0.78$2.38$0.45$0.63$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.34$0.78$2.57$0.43$0.63$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.88$0.77$3.11$0.41$0.61$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.18$0.88$3.30$0.42$0.68$0.26
2016Detailed filing. Detailed filing data is available for this year.$4.36$0.79$3.57$0.40$0.57$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.16$0.83$4.33$0.56
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.35$0.85$4.50$0.54
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.57$0.87$4.70$0.53