Civic Intelligence

Nonprofit Housing Preservation Ra Inc.

990 • Fiscal year 2023 • EIN 31-1484299

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 04, 2024

2001 W Blue Heron Blvd 201Riviera Beach, FL 33404

(561) 655-6775

Siviq Scores

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

Liabilities / Assets

95th percentile

1.13x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

5.80x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

33rd percentile

-3.1%

Higher net margin than 33% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

28th percentile

-2.5%

Faster asset growth than 28% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

42nd percentile

2.5%

Faster revenue growth than 42% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$4,860,436

Down $124,106 (-2.5%) from 2022

Net Assets

Down

-$627,561

Down $29,036 (-4.9%) from 2022

Liabilities

Down

$5,487,997

Down $95,070 (-1.7%) from 2022

Revenue

Up

$945,786

Up $23,012 (+2.5%) from 2022

Expenses

Up

$974,822

Up $24,575 (+2.6%) from 2022

Net Income

Down

-$29,036

Down $1,563 (-5.7%) from 2022

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $5,755,041Liabilities 2010: $5,074,407Net Assets 2010: $680,6342010Assets 2011: $0Liabilities 2011: $0Net Assets 2011: $02011Assets 2019: $5,898,982Liabilities 2019: $5,824,726Net Assets 2019: $74,2562019Assets 2020: $5,162,509Liabilities 2020: $5,751,985Net Assets 2020: -$589,4762020Assets 2021: $5,098,239Liabilities 2021: $5,669,291Net Assets 2021: -$571,0522021Assets 2022: $4,984,542Liabilities 2022: $5,583,067Net Assets 2022: -$598,5252022Assets 2023: $4,860,436Liabilities 2023: $5,487,997Net Assets 2023: -$627,5612023Assets 2024: $4,847,038Liabilities 2024: $5,391,471Net Assets 2024: -$544,4332024

Highlighted filing

2023

Assets$4,860,436
Liabilities$5,487,997
Net Assets-$627,561

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $1,442,3162010Expenses 2011: $1,905,2912011Revenue 2019: $786,957Expenses 2019: $1,568,908Net Income 2019: -$781,9512019Revenue 2020: $847,863Expenses 2020: $1,511,595Net Income 2020: -$663,7322020Revenue 2021: $897,478Expenses 2021: $879,054Net Income 2021: $18,4242021Revenue 2022: $922,774Expenses 2022: $950,247Net Income 2022: -$27,4732022Revenue 2023: $945,786Expenses 2023: $974,822Net Income 2023: -$29,0362023Revenue 2024: $1,021,117Expenses 2024: $937,989Net Income 2024: $83,1282024

Highlighted filing

2023

Revenue$945,786
Expenses$974,822
Net Income-$29,036
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 4, 2024
Return Version
2023v5.1
Gross Receipts
$945,786
Mission and Program Overview

Mission

To provide for the acquisition, development, ownership and operation of affordable housing for low-income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,407,817$4,342,326▼ $65,491
Intangible Assets$147,106$138,214▼ $8,892
Prepaid Expenses and Deferred Charges$60,669$94,813▲ $34,144
Cash and Non-Interest-Bearing Accounts$173,276$76,958▼ $96,318
Accounts Receivable$18,415$15,024▼ $3,391
Total Assets$4,984,542$4,860,436▼ $124,106
Other Assets Total$177,259$193,101▲ $15,842
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,463,262$5,363,311▼ $99,951
Other Liabilities$65,347$66,368▲ $1,021
Accounts Payable and Accrued Expenses$45,703$51,343▲ $5,640
Deferred Revenue$8,755$6,975▼ $1,780
Total Liabilities$5,583,067$5,487,997▼ $95,070
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-598,525$-627,561▼ $29,036
Total Net Assets Fund Balance$-598,525$-627,561▼ $29,036
Total Liabilities and Net Assets / Fund Balance$4,984,542$4,860,436▼ $124,106

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,773,666$686,648$4,460,314
Land$430,000-$430,000
Equipment$138,660$135,471$274,131
Compensation and Service Providers

Board Members and Trustees

NameTitle
John CorbettPresident
Hugh JacobsVice President
Richard F BurnsDirector
Stephen M GreenDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$943,862
Investment Income
$1,924
Other Revenue
$0
Change in Net Assets
$-29,036

Audited Revenue Reconciliation

Revenue per Audited Statements
$945,786
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$945,786
Total Revenue per Form 990
$945,786
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$788,894
Salaries, Compensation, and Employee Benefits$105,928
Grants and Similar Amounts Paid$80,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$177,084--$177,084
Interest$170,937--$170,937
Insurance$126,430--$126,430
Other Salaries and Wages$92,031--$92,031
Occupancy$91,040--$91,040
Grants to Domestic Orgs$80,000--$80,000
Fees for Services Management-$53,241-$53,241
Other Expenses$21,341$10,899-$10,899
Office Expenses$8,765--$8,765
Other Employee Benefits$7,961--$7,961
Fees for Services Accounting-$6,000-$6,000
Payroll Taxes$5,711--$5,711
Fees for Services Legal-$3,586-$3,586
All Other Expenses$2,257--$2,257
Travel-$2,251-$2,251
Information Technology$1,687--$1,687
Conferences and Meetings-$1,164-$1,164
Pension Plan Contributions$225--$225
Advertising$4--$4
Total Functional Expenses$897,681$77,141$0$974,822

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$974,822
Total Expenses per Audited Statements$974,822
Total Expenses per Form 990$974,822
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Nhp FoundationWashington, DC501(c)(3)Low Income Housing$40,000
The Partnership IncRiviera Beach, FL501(c)(3)Low Income Housing$40,000
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
Tenant Security Deposits$66,368
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
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
No
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

The project is managed by tpi management services llc, a disregarded entity of the partnership, inc.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by management and then distributed to board members for review. Upon review, the form 990 is submitted.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public on request.

Filing and Contact Details

Filer

Filer Name
Nonprofit Housing Preservation Ra Inc
EIN
31-1484299
Phone
5616556775
Address
2001 W BLUE HERON BLVD 201, RIVIERA BEACH, FL 33404

Signing Officer

Name
Hugh Jacobs
Title
Vice President
Phone
5616556775
Signed
2024-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Corbett
Formed
1996
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Carter & Company Cpas LLC
Address
PO BOX 279, DESTIN, FL 32540
Preparer
Samuel T Boerma
Phone
8506500125
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The corporation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The corporation has adopted accounting for uncertainty in income taxes (fasb accounting standards codification (asc) 740, income taxes). It requires that a tax position be recognized or derecognized based on a 'more-likely-than-not' threshold. This applies to positions taken or expected to be taken in a tax return. The implementation had no impact on the corporation's statement of financial position or statement of activities. The corporation does not believe its financial statements include any uncertain tax positions and that no income taxes are due for its activities. Therefore, no provision for income taxes is included in the financial statements.

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IRS990ScheduleA/PublicSupportTotal509Amt04393616
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0943862
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0922061
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0897050
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0843686
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0786957
IRS990ScheduleA/Total509Grp/TotalAmt04393616
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0945786
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0922774
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0897478
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0847863
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0786957
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04400858
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03773666
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0686648
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04460314
IRS990ScheduleD/EquipmentGrp/BookValueAmt0138660
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0135471
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0274131
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0974822
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0430000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0430000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt066368
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0945786
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES). IT REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A 'MORE-LIKELY-THAN-NOT' THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE IMPLEMENTATION HAD NO IMPACT ON THE CORPORATION'S STATEMENT OF FINANCIAL POSITION OR STATEMENT OF ACTIVITIES. THE CORPORATION DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS AND THAT NO INCOME TAXES ARE DUE FOR ITS ACTIVITIES. THEREFORE, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04342326
IRS990ScheduleD/TotalExpensesPerForm990Amt0974822
IRS990ScheduleD/TotalLiabilityAmt066368
IRS990ScheduleD/TotalRevenuePerForm990Amt0945786
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0945786
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0974822
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt040000
IRS990ScheduleI/RecipientTable/CashGrantAmt140000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0LOW INCOME HOUSING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1LOW INCOME HOUSING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE NHP FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1THE PARTNERSHIP INC
IRS990ScheduleI/RecipientTable/RecipientEIN0521636004
IRS990ScheduleI/RecipientTable/RecipientEIN1650522900
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01090 VERMONT AVENUE 400
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt12001 W BLUE HERON BLVD STE 201
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WASHINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1RIVIERA BEACH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0DC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1FL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd020005
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd133404
IRS990ScheduleI/Total501c3OrgCnt02
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROJECT IS MANAGED BY TPI MANAGEMENT SERVICES LLC, A DISREGARDED ENTITY OF THE PARTNERSHIP, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY MANAGEMENT AND THEN DISTRIBUTED TO BOARD MEMBERS FOR REVIEW. UPON REVIEW, THE FORM 990 IS SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04984542
IRS990/TotalAssetsEOYAmt04860436
IRS990/TotalAssetsGrp/BOYAmt04984542
IRS990/TotalAssetsGrp/EOYAmt04860436
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt077141
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0897681
IRS990/TotalFunctionalExpensesGrp/TotalAmt0974822
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05583067
IRS990/TotalLiabilitiesEOYAmt05487997
IRS990/TotalLiabilitiesGrp/BOYAmt05583067
IRS990/TotalLiabilitiesGrp/EOYAmt05487997
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-598525
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-627561
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0897681
IRS990/TotalProgramServiceRevenueAmt0943862
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01924
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0943862
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0945786
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04984542
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04860436
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt02251
IRS990/TravelGrp/TotalAmt02251
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02001 W BLUE HERON BLVD STE 201
IRS990/USAddress/CityNm0RIVIERA BEACH
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033404
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0HUGH JACOBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05616556775
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NONPROFIT HOUSING PRESERVATION RA INC
ReturnHeader/Filer/BusinessNameControlTxt0NONP
ReturnHeader/Filer/EIN0311484299
ReturnHeader/Filer/PhoneNum05616556775
ReturnHeader/Filer/USAddress/AddressLine1Txt02001 W BLUE HERON BLVD 201

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