Civic Intelligence

Cda Housing Inc.

990 • Fiscal year 2017 • EIN 30-0572797

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 14, 2018

201 South Curry StreetIronwood, MI 49938

(906) 932-5500

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

99th percentile

99%

Higher net margin than 99% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

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

Source year 2017

Revenue Growth

Score unavailable

No value available

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

Source year 2017

Assets

$3,656,624

No earlier filing loaded for comparison.

Net Assets

$3,656,624

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$3,710,040

No earlier filing loaded for comparison.

Expenses

$53,416

No earlier filing loaded for comparison.

Net Income

$3,656,624

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2017: $3,656,624Liabilities 2017: $0Net Assets 2017: $3,656,6242017Assets 2018: $6,888,407Liabilities 2018: $34,524Net Assets 2018: $6,853,8832018Assets 2019: $15,528,083Liabilities 2019: $34,524Net Assets 2019: $15,493,5592019Assets 2020: $26,630,212Liabilities 2020: $34,526Net Assets 2020: $26,595,6862020Assets 2021: $52,894,657Liabilities 2021: $15,943,680Net Assets 2021: $36,950,9772021Assets 2022: $56,463,370Liabilities 2022: $16,922,660Net Assets 2022: $39,540,7102022Assets 2024: $30,986,348Liabilities 2024: $6,091,024Net Assets 2024: $24,895,3242024

Highlighted filing

2017

Assets$3,656,624
Liabilities$0
Net Assets$3,656,624

Operations Trend

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

$15M$10M$5.0M$0Revenue 2017: $3,710,040Expenses 2017: $53,416Net Income 2017: $3,656,6242017Revenue 2018: $3,228,803Expenses 2018: $25,917Net Income 2018: $3,202,8862018Revenue 2019: $8,676,739Expenses 2019: $37,063Net Income 2019: $8,639,6762019Revenue 2020: $11,134,762Expenses 2020: $32,635Net Income 2020: $11,102,1272020Revenue 2021: $9,666,915Expenses 2021: $134,392Net Income 2021: $9,532,5232021Revenue 2022: $3,525,528Expenses 2022: $935,795Net Income 2022: $2,589,7332022Revenue 2024: $5,169,942Expenses 2024: $128,208Net Income 2024: $5,041,7342024

Highlighted filing

2017

Revenue$3,710,040
Expenses$53,416
Net Income$3,656,624
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 14, 2018
Return Version
2017v2.3
Gross Receipts
$7,410,040
Mission and Program Overview

Mission

The corporation is organized exclusively for charitable, educational and scientific purposes, and exclusively to carry out the following purposes: 1. Provide decent, safe and sanitary housing and other assistance related to affordable low-income housing and basic human needs for decent shelter to those in need and the disadvantaged as well as to engage in any other lawful act or activity for which the corporation may be organized under the non-profit corporation law of the state of michigan. 2. Develop and maintain safe, affordable housing for low-income persons in the states of michigan, wisconsin and illinois. 3. Purchase, obtain donations of, and accept ownership of existing rental housing properties and, if applicable and appropriate, to assume existing mortgages and associated indebtedness of said properties and/or obtain other financing and operate said property as affordable low-income housing. 4. Provide such educational, supportive and referral services to low-income persons a

The corporation is organized exclusively for charitable, educational and scientific purposes, and exclusively to carry out the following purposes: 1. Provide decent. Safe and sanitary housing and other assistance related to affordable low-income housing and basic human needs for decent shelter to those in need and the disadvantaged as well as to engage in any other lawful act or activity for which the corporation may be organized under the non-profit corporation law of the state of michigan. 2. Develop and maintain safe, affordable housing for low-income persons in the states of michigan, wisconsin and illinois. 3. Purchase, obtain donations of, and accept ownership of existing rental housing properties and, if applicable and appropriate, to assume existing mortgages and associated indebtedness of said properties and/or obtain other financing and operate said property as affordable low-income housing. 4. Provide such educational, supportive and referral services to low-income persons a

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net-$2,935,000-
Cash and Non-Interest-Bearing Accounts-$721,624-
Total Assets$0$3,656,624▲ $3,656,624
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets-$3,656,624-
Total Net Assets Fund Balance$0$3,656,624▲ $3,656,624
Total Liabilities and Net Assets / Fund Balance$0$3,656,624▲ $3,656,624
Compensation and Service Providers

Board Members and Trustees

NameTitle
Donald RichardsPresident
Damon DuncanDirector
Katie OatsvallDirector
Tim MahoneDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$3,710,040
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,710,040
Change in Net Assets
$3,656,624

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Real Estate Residential1$3,700,000
Total Noncash Contributions1$3,700,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$53,416
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
Fees for Services Legal$45,000--$45,000
Fees for Services Other$6,800--$6,800
Fees for Services Accounting$1,010--$1,010
Office Expenses$606--$606
Total Functional Expenses$53,416$0$0$53,416
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Page 6, Part VI, Line 11B

Company accountant reviews the information on the 990 before it is submitted for e-filing.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Cda Housing Inc
EIN
30-0572797
Phone
9069325500
Address
201 SOUTH CURRY STREET, IRONWOOD, MI 49938

Signing Officer

Name
Donald Richards
Title
President
Phone
9069325500
Signed
2018-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Richards
Formed
2015
Legal Domicile
Mi
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Sitzberger & Company Sc
Address
611 N BARKER ROAD SUITE 200, BROOKFIELD, WI 53045
Preparer
Carl L Marzolf CPA Mst
Phone
2628601724
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The corporation is organized exclusively for charitable, educational and scientific purposes, and exclusively to carry out the following purposes: 1. Provide decent. Safe and sanitary housing and other assistance related to affordable low-income housing and basic human needs for decent shelter to those in need and the disadvantaged as well as to engage in any other lawful act or activity for which the corporation may be organized under the non-profit corporation law of the state of michigan. 2. Develop and maintain safe, affordable housing for low-income persons in the states of michigan, wisconsin and illinois. 3. Purchase, obtain donations of, and accept ownership of existing rental housing properties and, if applicable and appropriate, to assume existing mortgages and associated indebtedness of said properties and/or obtain other financing and operate said property as affordable low-income housing. 4. Provide such educational, supportive and referral services to low-income persons as may be necessary and appropriate to the accomplishment of the provision of affordable, low-income housing. 5. To do any and all lawful activities which may be necessary, useful or desirable for the furtherance, accomplishment, fostering or attainment of the foregoing purposes, either directly or indirectly, and either alone or in conjunction or cooperation with others, whether such others be persons or organizations of any kind or nature, such as corporations, firms, associations, trusts, institutions, foundations, or governmental bureaus, departments, or agencies.

Form 990, Page 2, Part III, Line 4A

Kenosha, wi which is known as the "vincent mccall company (vmc) lofts". Cda received the ahp award from the federal home loan bank of chicago for the vmc lofts development. The 850,000 was contributed to vmc lofts, llc. Cda taxable, llc is a newly formed entity of which cda housing inc. Is the sole member. Cda taxable llc is the managing member of vmc lofts, llc. Vmc lofts, llc is undertaking a historic rehabilitation where a historic manufacturing facility is being converted into 60 units of affordable, loft-style housing. 3) cda housing served as the sponsor of a federal home loan bank of chicago ahp application for a low-income housing tax credit development in madison, wi which is known as the "novation senior apartments". Cda was not successful with the novation ahp application. The transaction closed in 2017 and cda is a special member of the ownership entity. The development will consist of 60 units of affordable senior housing in madison, wi. 4) cda is a material participant in the construction of 40 units of affordable housing in fulton, il known as fulton commons. The development began construction in 2017 and is expected to be completed in august, 2018. 5) cda served as a sponsor for an ahp application for eva manor which is the new construciton of 50 units of affordable senior and family housing in pleasant prarie, wi. The development will close in july, 2018 and cda taxable llc will be the managing member of the owner entity, eva manor, llc. 6) cda served as a sponsor for an ahp application for whitetail ridge which is the new construciton of 60 units of affordable senior and family housing in paddock lake, wi. The development will close in july, 2018 and cda taxable llc will be the managing member of the owner entity, whitetail ridge mf, llc.

Form 990, Part IX, Line 11G

CONSULTING 6,800 0 0

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES, AND EXCLUSIVELY TO CARRY OUT THE FOLLOWING PURPOSES: 1. PROVIDE DECENT. SAFE AND SANITARY HOUSING AND OTHER ASSISTANCE RELATED TO AFFORDABLE LOW-INCOME HOUSING AND BASIC HUMAN NEEDS FOR DECENT SHELTER TO THOSE IN NEED AND THE DISADVANTAGED AS WELL AS TO ENGAGE IN ANY OTHER LAWFUL ACT OR ACTIVITY FOR WHICH THE CORPORATION MAY BE ORGANIZED UNDER THE NON-PROFIT CORPORATION LAW OF THE STATE OF MICHIGAN. 2. DEVELOP AND MAINTAIN SAFE, AFFORDABLE HOUSING FOR LOW-INCOME PERSONS IN THE STATES OF MICHIGAN, WISCONSIN AND ILLINOIS. 3. PURCHASE, OBTAIN DONATIONS OF, AND ACCEPT OWNERSHIP OF EXISTING RENTAL HOUSING PROPERTIES AND, IF APPLICABLE AND APPROPRIATE, TO ASSUME EXISTING MORTGAGES AND ASSOCIATED INDEBTEDNESS OF SAID PROPERTIES AND/OR OBTAIN OTHER FINANCING AND OPERATE SAID PROPERTY AS AFFORDABLE LOW-INCOME HOUSING. 4. PROVIDE SUCH EDUCATIONAL, SUPPORTIVE AND REFERRAL SERVICES TO LOW-INCOME PERSONS AS MAY BE NECESSARY AND APPROPRIATE TO THE ACCOMPLISHMENT OF THE PROVISION OF AFFORDABLE, LOW-INCOME HOUSING. 5. TO DO ANY AND ALL LAWFUL ACTIVITIES WHICH MAY BE NECESSARY, USEFUL OR DESIRABLE FOR THE FURTHERANCE, ACCOMPLISHMENT, FOSTERING OR ATTAINMENT OF THE FOREGOING PURPOSES, EITHER DIRECTLY OR INDIRECTLY, AND EITHER ALONE OR IN CONJUNCTION OR COOPERATION WITH OTHERS, WHETHER SUCH OTHERS BE PERSONS OR ORGANIZATIONS OF ANY KIND OR NATURE, SUCH AS CORPORATIONS, FIRMS, ASSOCIATIONS, TRUSTS, INSTITUTIONS, FOUNDATIONS, OR GOVERNMENTAL BUREAUS, DEPARTMENTS, OR AGENCIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1KENOSHA, WI WHICH IS KNOWN AS THE "VINCENT MCCALL COMPANY (VMC) LOFTS". CDA RECEIVED THE AHP AWARD FROM THE FEDERAL HOME LOAN BANK OF CHICAGO FOR THE VMC LOFTS DEVELOPMENT. THE 850,000 WAS CONTRIBUTED TO VMC LOFTS, LLC. CDA TAXABLE, LLC IS A NEWLY FORMED ENTITY OF WHICH CDA HOUSING INC. IS THE SOLE MEMBER. CDA TAXABLE LLC IS THE MANAGING MEMBER OF VMC LOFTS, LLC. VMC LOFTS, LLC IS UNDERTAKING A HISTORIC REHABILITATION WHERE A HISTORIC MANUFACTURING FACILITY IS BEING CONVERTED INTO 60 UNITS OF AFFORDABLE, LOFT-STYLE HOUSING. 3) CDA HOUSING SERVED AS THE SPONSOR OF A FEDERAL HOME LOAN BANK OF CHICAGO AHP APPLICATION FOR A LOW-INCOME HOUSING TAX CREDIT DEVELOPMENT IN MADISON, WI WHICH IS KNOWN AS THE "NOVATION SENIOR APARTMENTS". CDA WAS NOT SUCCESSFUL WITH THE NOVATION AHP APPLICATION. THE TRANSACTION CLOSED IN 2017 AND CDA IS A SPECIAL MEMBER OF THE OWNERSHIP ENTITY. THE DEVELOPMENT WILL CONSIST OF 60 UNITS OF AFFORDABLE SENIOR HOUSING IN MADISON, WI. 4) CDA IS A MATERIAL PARTICIPANT IN THE CONSTRUCTION OF 40 UNITS OF AFFORDABLE HOUSING IN FULTON, IL KNOWN AS FULTON COMMONS. THE DEVELOPMENT BEGAN CONSTRUCTION IN 2017 AND IS EXPECTED TO BE COMPLETED IN AUGUST, 2018. 5) CDA SERVED AS A SPONSOR FOR AN AHP APPLICATION FOR EVA MANOR WHICH IS THE NEW CONSTRUCITON OF 50 UNITS OF AFFORDABLE SENIOR AND FAMILY HOUSING IN PLEASANT PRARIE, WI. THE DEVELOPMENT WILL CLOSE IN JULY, 2018 AND CDA TAXABLE LLC WILL BE THE MANAGING MEMBER OF THE OWNER ENTITY, EVA MANOR, LLC. 6) CDA SERVED AS A SPONSOR FOR AN AHP APPLICATION FOR WHITETAIL RIDGE WHICH IS THE NEW CONSTRUCITON OF 60 UNITS OF AFFORDABLE SENIOR AND FAMILY HOUSING IN PADDOCK LAKE, WI. THE DEVELOPMENT WILL CLOSE IN JULY, 2018 AND CDA TAXABLE LLC WILL BE THE MANAGING MEMBER OF THE OWNER ENTITY, WHITETAIL RIDGE MF, LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPANY ACCOUNTANT REVIEWS THE INFORMATION ON THE 990 BEFORE IT IS SUBMITTED FOR E-FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTING 6,800 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD RICHARDS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09069325500
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-06-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CDA HOUSING INC
ReturnHeader/Filer/BusinessNameControlTxt0CDAH
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ReturnHeader/Filer/PhoneNum09069325500
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 SOUTH CURRY STREET
ReturnHeader/Filer/USAddress/CityNm0IRONWOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C8FD22B852D6E0049D159B2D55DDB841C130B906
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId01844800356766DA011681ACB8A2DD613C75F49CD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt076.190.118.202
ReturnHeader/FilingSecurityInformation/IPDt02018-06-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:59:16
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391777761
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SITZBERGER & COMPANY SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0611 N BARKER ROAD SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BROOKFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd053045
ReturnHeader/PreparerPersonGrp/PhoneNum02628601724
ReturnHeader/PreparerPersonGrp/PreparationDt02018-06-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CARL L MARZOLF CPA MST
ReturnHeader/ReturnTs02018-06-18T13:59:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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