Civic Intelligence

Broadway Apartments Inc.

990 • Fiscal year 2018 • EIN 31-1569129

Jul 01, 2017 to Jun 30, 2018 • Filed on Sep 14, 2018

PO Box 51055Albuquerque, NM 87181

(505) 293-7553

Siviq Scores

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

Liabilities / Assets

82nd percentile

1.01x

Higher debt load relative to assets than 82% of similar nonprofits.

2018 filings • NTEE L • <$500k nonprofits • Source year 2018

Liabilities / Revenue

88th percentile

4.99x

Higher debt load relative to revenue than 88% of similar nonprofits.

2018 filings • NTEE L • <$500k nonprofits • Source year 2018

Net Margin

72nd percentile

15%

Higher net margin than 72% of similar nonprofits.

2018 filings • NTEE L • <$500k nonprofits • Source year 2018

Top Officer Pay

95th percentile

$185,983

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 249.4% of source-year revenue.

2018 filings • NTEE L • <$500k nonprofits • Source year 2018

Asset Growth

64th percentile

1.0%

Faster asset growth than 64% of similar nonprofits.

2018 filings • NTEE L • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

36th percentile

-6.4%

Faster revenue growth than 36% of similar nonprofits.

2018 filings • NTEE L • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$367,373

Up $3,741 (+1.0%) from 2017

Net Assets

Up

-$4,467

Up $11,496 (+72%) from 2017

Liabilities

Down

$371,840

Down $7,755 (-2.0%) from 2017

Revenue

Down

$74,563

Down $5,068 (-6.4%) from 2017

Expenses

Down

$63,067

Down $5,347 (-7.8%) from 2017

Net Income

Up

$11,496

Up $279 (+2.5%) from 2017

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200KAssets 2013: $413,335Liabilities 2013: $412,025Net Assets 2013: $1,3102013Assets 2014: $404,477Liabilities 2014: $404,217Net Assets 2014: $2602014Assets 2015: $386,138Liabilities 2015: $395,372Net Assets 2015: -$9,2342015Assets 2016: $367,266Liabilities 2016: $394,446Net Assets 2016: -$27,1802016Assets 2017: $363,632Liabilities 2017: $379,595Net Assets 2017: -$15,9632017Assets 2018: $367,373Liabilities 2018: $371,840Net Assets 2018: -$4,4672018Assets 2019: $381,102Liabilities 2019: $368,023Net Assets 2019: $13,0792019Assets 2021: $366,570Liabilities 2021: $340,876Net Assets 2021: $25,6942021Assets 2022: $340,110Liabilities 2022: $331,983Net Assets 2022: $8,1272022Assets 2023: $318,777Liabilities 2023: $322,973Net Assets 2023: -$4,1962023Assets 2024: $310,843Liabilities 2024: $313,671Net Assets 2024: -$2,8282024

Highlighted filing

2018

Assets$367,373
Liabilities$371,840
Net Assets-$4,467

Operations Trend

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

$150K$100K$50K$0-$50KExpenses 2013: $112,3332013Revenue 2014: $71,817Expenses 2014: $72,866Net Income 2014: -$1,0492014Revenue 2015: $73,683Expenses 2015: $83,177Net Income 2015: -$9,4942015Revenue 2016: $79,439Expenses 2016: $97,385Net Income 2016: -$17,9462016Revenue 2017: $79,631Expenses 2017: $68,414Net Income 2017: $11,2172017Revenue 2018: $74,563Expenses 2018: $63,067Net Income 2018: $11,4962018Revenue 2019: $90,697Expenses 2019: $73,151Net Income 2019: $17,5462019Revenue 2021: $95,844Expenses 2021: $82,372Net Income 2021: $13,4722021Revenue 2022: $94,319Expenses 2022: $111,886Net Income 2022: -$17,5672022Revenue 2023: $106,215Expenses 2023: $118,538Net Income 2023: -$12,3232023Revenue 2024: $119,863Expenses 2024: $118,495Net Income 2024: $1,3682024

Highlighted filing

2018

Revenue$74,563
Expenses$63,067
Net Income$11,496
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Sep 14, 2018
Return Version
2017v2.3
Gross Receipts
$74,563
Mission and Program Overview

Mission

To provide housing for the very low income and mentally disabled.

Broadway apartments was founded to provide housing for persons with disabilities due to mental illness, low income persons, and homeless men and women.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$333,571$328,970▼ $4,601
Cash and Non-Interest-Bearing Accounts$10,891$11,983▲ $1,092
Accounts Receivable-$3,233-
Total Assets$363,632$367,373▲ $3,741
Other Assets Total$19,170$23,187▲ $4,017
Liabilities
Mortgage Notes Payable Secured by Investment Property$361,486$351,964▼ $9,522
Other Liabilities$16,760$18,488▲ $1,728
Accounts Payable and Accrued Expenses$1,349$1,388▲ $39
Total Liabilities$379,595$371,840▼ $7,755
Net Assets / Fund Balance
Unrestricted Net Assets$-15,963$-4,467▲ $11,496
Total Net Assets Fund Balance$-15,963$-4,467▲ $11,496
Total Liabilities and Net Assets / Fund Balance$363,632$367,373▲ $3,741

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$258,301$248,286$506,587
Land$70,669-$70,669
Other Land Buildings$0$15,998$15,998
Other Assets Org$9,175--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John BloomfieldExecutive DirectorPT$7,475$178,508$7,475

Board Members and Trustees

NameTitle
Monica MiuraPresident
Doleswar BhandariDirector
Frances CunzemanDirector
Lorette EnochsDirector
Patricia RaySecretary
Paul Von GulickTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$74,561
Investment Income
$2
Other Revenue
$0
Change in Net Assets
$11,496
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$54,862
Salaries, Compensation, and Employee Benefits$8,205
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$27,162--$27,162
Depreciation Depletion$12,884--$12,884
Other Salaries and Wages-$7,475-$7,475
Fees for Services Accounting$2,473$3,406-$5,879
Interest$4,967--$4,967
Other Expenses$993--$993
Fees for Services Other-$743-$743
Payroll Taxes-$730-$730
Office Expenses$500--$500
Total Functional Expenses$50,713$12,354$0$63,067
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
Current Portion of Long Term Debt$9,522
Tenant Security Deposits$8,966
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The executive director reviews the form 990 for accuracy before it's filed.

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

The organization's board of directors includes two lawyers and is mindful of any action that may create a potential conflict of interest. Should one arise, the party with the interest would either resign or be recused from deliberations that affect the outcome.

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

The board approves the executive director's salary at initiation. The board president writes an annual appraisal based on the key performance areas in the executive director's job description. It is circulated to board members for comment and salary is determined by the board based on performance and affordability.

Form 990, Part VI, Section C, Line 19

The board policies and conflict of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
Broadway Apartments Inc
EIN
31-1569129
Phone
5052937553
Address
PO BOX 51055, ALBUQUERQUE, NM 87181

Signing Officer

Name
John Bloomfield
Title
Director
Phone
5052937553
Signed
2018-09-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Bloomfield
Formed
1997
Legal Domicile
Nm
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Palmer & Co Pa
Address
701 OSUNA RD NE SUITE 100, ALBUQUERQUE, NM 87113
Preparer
Margi Palmer
Phone
5053441040
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IRS990ScheduleD/LandGrp/BookValueAmt070669
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt070669
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt014012
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt19175
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED ESCROW ACCOUNTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015998
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt015998
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09522
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18966
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CURRENT PORTION OF LONG TERM DEBT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0328970
IRS990ScheduleD/TotalBookValueOtherAssetsAmt023187
IRS990ScheduleD/TotalLiabilityAmt018488
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt07475
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0112525
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt065983
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN BLOOMFIELD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt07475
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0178508
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR REVIEWS THE FORM 990 FOR ACCURACY BEFORE IT'S FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S BOARD OF DIRECTORS INCLUDES TWO LAWYERS AND IS MINDFUL OF ANY ACTION THAT MAY CREATE A POTENTIAL CONFLICT OF INTEREST. SHOULD ONE ARISE, THE PARTY WITH THE INTEREST WOULD EITHER RESIGN OR BE RECUSED FROM DELIBERATIONS THAT AFFECT THE OUTCOME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD APPROVES THE EXECUTIVE DIRECTOR'S SALARY AT INITIATION. THE BOARD PRESIDENT WRITES AN ANNUAL APPRAISAL BASED ON THE KEY PERFORMANCE AREAS IN THE EXECUTIVE DIRECTOR'S JOB DESCRIPTION. IT IS CIRCULATED TO BOARD MEMBERS FOR COMMENT AND SALARY IS DETERMINED BY THE BOARD BASED ON PERFORMANCE AND AFFORDABILITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD POLICIES AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd60
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NEW LIFE HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NEW LIFE HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1FOUNDATION FOR NEW LIFE HOMES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2NLH2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3NLH3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4NLH5
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5NLH6
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6NLH4
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0850406074
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1912032117
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2850478290
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN3562316141
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN4810661288
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN5061830123
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN6364621310
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt4501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt5501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt6501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd4NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd5NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd6NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING FOR LOW INCOME AND DISABLED PEOPLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1HOUSING FOR LOW INCOME AND DISABLED PEOPLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2HOUSING FOR LOW INCOME AND DISABLED PEOPLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3HOUSING FOR LOW INCOME AND DISABLED PEOPLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt4HOUSING FOR LOW INCOME AND DISABLED PEOPLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt5HOUSING FOR LOW INCOME AND DISABLED PEOPLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt6HOUSING FOR LOW INCOME AND DISABLED PEOPLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt2LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt3LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt4LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt5LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt6LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 51055
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1PO BOX 51055
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2PO BOX 51055
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt3PO BOX 51055
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt4PO BOX 51055
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt5PO BOX 51055
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt6PO BOX 51055
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ALBUQUERQUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1ALBUQUERQUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2ALBUQUERQUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm3ALBUQUERQUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm4ALBUQUERQUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm5ALBUQUERQUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm6ALBUQUERQUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NM

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