Civic Intelligence

Palatine Manor Housing Development Fund Corporation

990 • Fiscal year 2020 • EIN 31-1573533

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization ProfileN/A
32 Church AvenueGermantown, NY 12526-0115

(413) 525-4321

Siviq Scores

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

Liabilities / Assets

98th percentile

2.90x

Higher debt load relative to assets than 98% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

79th percentile

7.86x

Higher debt load relative to revenue than 79% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Net Margin

25th percentile

-26%

Higher net margin than 25% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Asset Growth

11th percentile

-6.9%

Faster asset growth than 11% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

67th percentile

6.4%

Faster revenue growth than 67% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$1,219,742

Down $90,118 (-6.9%) from 2019

Net Assets

Down

-$2,316,227

Down $146,878 (-6.8%) from 2019

Liabilities

Up

$3,535,969

Up $56,760 (+1.6%) from 2019

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin25th percentile

Revenue

Up

$449,796

Up $27,110 (+6.4%) from 2019

Expenses

Up

$566,869

Up $17,141 (+3.1%) from 2019

Net Income

Up

-$117,073

Up $9,969 (+7.8%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth11th percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2010: $2,258,428Liabilities 2010: $3,356,133Net Assets 2010: -$1,097,7052010Assets 2011: $2,129,825Liabilities 2011: $3,369,508Net Assets 2011: -$1,239,6832011Assets 2012: $2,019,778Liabilities 2012: $3,361,021Net Assets 2012: -$1,341,2432012Assets 2013: $1,928,749Liabilities 2013: $3,375,627Net Assets 2013: -$1,446,8782013Assets 2014: $1,821,076Liabilities 2014: $3,385,183Net Assets 2014: -$1,564,1072014Assets 2015: $1,707,102Liabilities 2015: $3,406,810Net Assets 2015: -$1,699,7082015Assets 2016: $1,606,807Liabilities 2016: $3,430,154Net Assets 2016: -$1,823,3472016Assets 2017: $1,512,296Liabilities 2017: $3,445,051Net Assets 2017: -$1,932,7552017Assets 2018: $1,428,342Liabilities 2018: $3,470,649Net Assets 2018: -$2,042,3072018Assets 2019: $1,309,860Liabilities 2019: $3,479,209Net Assets 2019: -$2,169,3492019Assets 2020: $1,219,742Liabilities 2020: $3,535,969Net Assets 2020: -$2,316,2272020Assets 2021: $1,045,303Liabilities 2021: $3,534,420Net Assets 2021: -$2,489,1172021Assets 2022: $938,013Liabilities 2022: $3,653,101Net Assets 2022: -$2,715,0882022Assets 2023: $803,044Liabilities 2023: $3,608,655Net Assets 2023: -$2,805,6112023Assets 2024: $765,395Liabilities 2024: $3,594,821Net Assets 2024: -$2,829,4262024

Highlighted filing

2020

Assets$1,219,742
Liabilities$3,535,969
Net Assets-$2,316,227
Open 2020 Filing

Operations Trend

Revenue Growth67th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $450,7012010Expenses 2011: $480,5892011Expenses 2012: $456,6032012Revenue 2013: $359,873Expenses 2013: $465,508Net Income 2013: -$105,6352013Revenue 2014: $370,396Expenses 2014: $487,625Net Income 2014: -$117,2292014Revenue 2015: $387,208Expenses 2015: $522,809Net Income 2015: -$135,6012015Revenue 2016: $388,483Expenses 2016: $512,122Net Income 2016: -$123,6392016Revenue 2017: $402,755Expenses 2017: $512,163Net Income 2017: -$109,4082017Revenue 2018: $411,510Expenses 2018: $521,062Net Income 2018: -$109,5522018Revenue 2019: $422,686Expenses 2019: $549,728Net Income 2019: -$127,0422019Revenue 2020: $449,796Expenses 2020: $566,869Net Income 2020: -$117,0732020Revenue 2021: $422,849Expenses 2021: $595,739Net Income 2021: -$172,8902021Revenue 2022: $435,925Expenses 2022: $661,896Net Income 2022: -$225,9712022Revenue 2023: $533,397Expenses 2023: $623,920Net Income 2023: -$90,5232023Revenue 2024: $645,366Expenses 2024: $669,181Net Income 2024: -$23,8152024

Highlighted filing

2020

Revenue$449,796
Expenses$566,869
Net Income-$117,073
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.0
Gross Receipts
$449,796
Mission and Program Overview

Mission

To provide affordable low-income housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$925,667$787,705▼ $137,962
Cash and Non-Interest-Bearing Accounts$8,916$52,604▲ $43,688
Savings and Temporary Cash Investments$27,914--
Prepaid Expenses and Deferred Charges$24,207$22,822▼ $1,385
Accounts Receivable$29,805$72▼ $29,733
Total Assets$1,309,860$1,219,742▼ $90,118
Other Assets Total$293,351$356,539▲ $63,188
Liabilities
Other Liabilities$3,452,694$3,470,741▲ $18,047
Accounts Payable and Accrued Expenses$26,515$65,228▲ $38,713
Total Liabilities$3,479,209$3,535,969▲ $56,760
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,169,349$-2,316,227▼ $146,878
Total Net Assets Fund Balance$-2,169,349$-2,316,227▼ $146,878
Total Liabilities and Net Assets / Fund Balance$1,309,860$1,219,742▼ $90,118

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$766,205$2,925,578$3,691,783
Equipment-$53,059$53,059
Land$21,500-$21,500
Other Assets Org$22,054--
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Andrea DipacePresident
Bonnie McalisterTreasurer
Luanne KlineVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$200,308
Program Service Revenue
$239,617
Investment Income
$5,075
Other Revenue
$4,796
Change in Net Assets
$-117,073

Audited Revenue Reconciliation

Revenue per Audited Statements
$449,796
Total Revenue per Audited Statements
$449,796
Total Revenue per Form 990
$449,796
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$566,869
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$137,963--$137,963
Occupancy$76,837--$76,837
Fees for Services Management-$52,098-$52,098
Insurance$34,990--$34,990
Office Expenses-$18,159-$18,159
Interest$17,217--$17,217
Fees for Services Accounting-$13,500-$13,500
Other Expenses$13,288$17,299-$13,288
All Other Expenses$7,618--$7,618
Fees for Services Other-$4,800-$4,800
Advertising-$575-$575
Total Functional Expenses$382,277$184,592$0$566,869

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$566,869
Total Expenses per Audited Statements$566,869
Total Expenses per Form 990$566,869
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
Mortgages Payable$3,048,478
Accrued Interest Payable$373,452
Advance Payable Reformed Church$27,000
Tenant Security Deposits$21,772
Prepaid Revenue$39
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Management services are provided by: carr property management, inc. 24 deer park drive east longmeadow, ma 01028”

Form 990, Page 6, Part VI, Line 11B

“The board president receives a copy of the return for review and approval. Upon approval, the board president will provide authorization to file the return.”

Form 990, Page 6, Part VI, Line 12C

“All members of the board of directors are required to annually execute a conflict of interest document stating that they have received, read and understand, and agree to comply with the conflict of interest document. The conflict of interest document requires the board members to disclose any potential conflicts of interest immediately. The board president will, upon notification of such an event, appoint a disinterested person or committee to investigate alternatives to the proposed transaction. Violations of the conflict of interest policy can result in appropriate disciplinary and corrective action. Also, all board members, by executing the conflict of interest document, acknowledge that they share the responsibility of the entity to remain faithful to the organization's charitable purpose.”

Form 990, Page 6, Part VI, Line 19

“Governing documents of the organization are made available to the public upon reasonable request.”

Filing and Contact Details

Filer

Filer Name
Palatine Manor Housing Development
EIN
31-1573533
Address
32 CHURCH AVENUE, GERMANTOWN, NY 12526-0115

Signing Officer

Name
Andrea Dipace
Title
President
Phone
4135254321
Signed
2021-11-12

Organization Details

Principal Officer
Andrea Dipace
Formed
1997
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Burkhart Pizzanelli Pc
Address
201 PARK AVE SUITE 2, WEST SPRINGFIELD, MA 01089-1597
Preparer
Julie Quink
Phone
4137349040
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The project is a not-for-profit corporation incorporated as a 501(c)(3) organization and is currently exempt from federal income taxes under section 501(a) of the internal revenue code. Management has evaluated significant tax positions against the criteria established by professional statndards, including the project's tax exempt status, and believes there are no such tax positions requiring accounting recognition. The project's informational returns are subject to examination by taxing authorities for all years ending on or after december 31, 2017.”

Raw XML Appendix386 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/EquipmentGrp/DepreciationAmt053059
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt222054
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESIDUAL REPLACEMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt321772
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt439
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MORTGAGES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ADVANCE PAYABLE REFORMED CHURCH
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4PREPAID REVENUE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PROJECT IS A NOT-FOR-PROFIT CORPORATION INCORPORATED AS A 501(C)(3) ORGANIZATION AND IS CURRENTLY EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STATNDARDS, INCLUDING THE PROJECT'S TAX EXEMPT STATUS, AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. THE PROJECT'S INFORMATIONAL RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER DECEMBER 31, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT SERVICES ARE PROVIDED BY: CARR PROPERTY MANAGEMENT, INC. 24 DEER PARK DRIVE EAST LONGMEADOW, MA 01028
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD PRESIDENT RECEIVES A COPY OF THE RETURN FOR REVIEW AND APPROVAL. UPON APPROVAL, THE BOARD PRESIDENT WILL PROVIDE AUTHORIZATION TO FILE THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO ANNUALLY EXECUTE A CONFLICT OF INTEREST DOCUMENT STATING THAT THEY HAVE RECEIVED, READ AND UNDERSTAND, AND AGREE TO COMPLY WITH THE CONFLICT OF INTEREST DOCUMENT. THE CONFLICT OF INTEREST DOCUMENT REQUIRES THE BOARD MEMBERS TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST IMMEDIATELY. THE BOARD PRESIDENT WILL, UPON NOTIFICATION OF SUCH AN EVENT, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION. VIOLATIONS OF THE CONFLICT OF INTEREST POLICY CAN RESULT IN APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ALSO, ALL BOARD MEMBERS, BY EXECUTING THE CONFLICT OF INTEREST DOCUMENT, ACKNOWLEDGE THAT THEY SHARE THE RESPONSIBILITY OF THE ENTITY TO REMAIN FAITHFUL TO THE ORGANIZATION'S CHARITABLE PURPOSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS OF THE ORGANIZATION ARE MADE AVAILABLE TO THE PUBLIC UPON REASONABLE REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxExemptBondsInd0false
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IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDREA DIPACE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04135254321
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PALATINE MANOR HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FUND CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PALA
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ReturnHeader/Filer/USAddress/ZIPCd0125260115
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURKHART PIZZANELLI PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0201 PARK AVE SUITE 2
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST SPRINGFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0010891597
ReturnHeader/PreparerPersonGrp/PhoneNum04137349040
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JULIE QUINK
ReturnHeader/ReturnTs02021-11-12T12:25:08-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ANDREA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DIPACE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,219,742
Liabilities
$3,535,969
Net assets
-$2,316,227
Revenue
$449,796
Expenses
$566,869
Net income
-$117,073
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.77$3.59$2.83$0.65$0.67$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.80$3.61$2.81$0.53$0.62$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.94$3.65$2.72$0.44$0.66$0.23
2021Detailed filing. Detailed filing data is available for this year.$1.05$3.53$2.49$0.42$0.60$0.17
2020Detailed filing. Detailed filing data is available for this year.$1.22$3.54$2.32$0.45$0.57$0.12
2019Detailed filing. Detailed filing data is available for this year.$1.31$3.48$2.17$0.42$0.55$0.13
2018Detailed filing. Detailed filing data is available for this year.$1.43$3.47$2.04$0.41$0.52$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.51$3.45$1.93$0.40$0.51$0.11
2016Detailed filing. Detailed filing data is available for this year.$1.61$3.43$1.82$0.39$0.51$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.71$3.41$1.70$0.39$0.52$0.14
2014Detailed filing. Detailed filing data is available for this year.$1.82$3.39$1.56$0.37$0.49$0.12
2013Detailed filing. Detailed filing data is available for this year.$1.93$3.38$1.45$0.36$0.47$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.02$3.36$1.34$0.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$3.37$1.24$0.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.26$3.36$1.10$0.45