Civic Intelligence

Preservation of Affordable Housing Inc.

990 • Fiscal year 2013 • EIN 31-1616634

Jan 01, 2013 to Dec 31, 2013 • Filed on Sep 15, 2014

40 Court Street Suite 700Suite02108

(617) 261-9898

Siviq Scores

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

Liabilities / Assets

27th percentile

0.14x

Higher debt load relative to assets than 27% of similar nonprofits.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2013

Liabilities / Revenue

38th percentile

0.36x

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

2013 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2013

Net Margin

92nd percentile

53%

Higher net margin than 92% of similar nonprofits.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2013

Top Officer Pay

48th percentile

$499,161

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2013

Asset Growth

97th percentile

67%

Faster asset growth than 97% of similar nonprofits.

2013 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2011 to 2013

Revenue Growth

Score unavailable

No value available

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

Source year 2013

Assets

Up

$151,458,164

Up $96,866,525 (+177%) from 2011

Net Assets

Up

$130,442,033

Up $85,716,502 (+192%) from 2011

Liabilities

Up

$21,016,131

Up $11,150,023 (+113%) from 2011

Revenue

$58,247,981

No earlier filing loaded for comparison.

Expenses

Up

$27,502,874

Up $25,127,234 (+1058%) from 2011

Net Income

$30,745,107

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.

$1.5B$1.0B$500M$0Assets 2010: $50,704,604Liabilities 2010: $6,752,155Net Assets 2010: $43,952,4492010Assets 2011: $54,591,639Liabilities 2011: $9,866,108Net Assets 2011: $44,725,5312011Assets 2013: $151,458,164Liabilities 2013: $21,016,131Net Assets 2013: $130,442,0332013Assets 2014: $156,912,797Liabilities 2014: $19,985,254Net Assets 2014: $136,927,5432014Assets 2015: $169,073,662Liabilities 2015: $26,045,952Net Assets 2015: $143,027,7102015Assets 2016: $189,024,832Liabilities 2016: $28,346,487Net Assets 2016: $160,678,3452016Assets 2017: $264,266,227Liabilities 2017: $92,554,153Net Assets 2017: $171,712,0742017Assets 2018: $300,565,196Liabilities 2018: $118,036,901Net Assets 2018: $182,528,2952018Assets 2019: $388,035,997Liabilities 2019: $199,068,977Net Assets 2019: $188,967,0202019Assets 2020: $426,409,904Liabilities 2020: $235,903,037Net Assets 2020: $190,506,8672020Assets 2021: $607,140,967Liabilities 2021: $351,032,054Net Assets 2021: $256,108,9132021Assets 2022: $668,508,423Liabilities 2022: $366,339,330Net Assets 2022: $302,169,0932022Assets 2023: $870,222,383Liabilities 2023: $528,371,704Net Assets 2023: $341,850,6792023Assets 2024: $1,146,519,846Liabilities 2024: $772,032,764Net Assets 2024: $374,487,0822024

Highlighted filing

2013

Assets$151,458,164
Liabilities$21,016,131
Net Assets$130,442,033

Operations Trend

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

$200M$150M$100M$50M$0-$50MExpenses 2010: $1,648,7982010Expenses 2011: $2,375,6402011Revenue 2013: $58,247,981Expenses 2013: $27,502,874Net Income 2013: $30,745,1072013Revenue 2014: $39,037,562Expenses 2014: $30,016,610Net Income 2014: $9,020,9522014Revenue 2015: $38,514,806Expenses 2015: $32,414,639Net Income 2015: $6,100,1672015Revenue 2016: $55,974,122Expenses 2016: $40,380,590Net Income 2016: $15,593,5322016Revenue 2017: $71,537,739Expenses 2017: $52,802,513Net Income 2017: $18,735,2262017Revenue 2018: $68,336,137Expenses 2018: $58,698,616Net Income 2018: $9,637,5212018Revenue 2019: $78,311,476Expenses 2019: $65,418,348Net Income 2019: $12,893,1282019Revenue 2020: $79,483,292Expenses 2020: $79,535,205Net Income 2020: -$51,9132020Revenue 2021: $179,190,346Expenses 2021: $108,485,924Net Income 2021: $70,704,4222021Revenue 2022: $148,472,316Expenses 2022: $104,649,164Net Income 2022: $43,823,1522022Revenue 2023: $145,471,919Expenses 2023: $112,661,144Net Income 2023: $32,810,7752023Revenue 2024: $136,682,612Expenses 2024: $118,586,483Net Income 2024: $18,096,1292024

Highlighted filing

2013

Revenue$58,247,981
Expenses$27,502,874
Net Income$30,745,107
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Sep 15, 2014
Return Version
2013v3.1
Gross Receipts
$58,247,981
Mission and Program Overview

Mission

Poah was formed to preserve and create affordable housing for persons in need of such housing.

Preservation of affordable housing, inc. (poah) was formed to preserve and create affordable housing for persons in need of such housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$82,598,664$101,830,398▲ $19,231,734
Investments Program Related$25,778,483$20,350,924▼ $5,427,559
Accounts Receivable$514,386$11,385,014▲ $10,870,628
Loans From Officers Directors$10,454,381$10,088,720▼ $365,661
Cash and Non-Interest-Bearing Accounts$723,480$7,984,075▲ $7,260,595
Savings and Temporary Cash Investments$1,774,911$3,125,505▲ $1,350,594
Pledges and Grants Receivable$209,596$528,559▲ $318,963
Land, Buildings, and Equipment, Net$32,349$323,430▲ $291,081
Prepaid Expenses and Deferred Charges$10,393$291,068▲ $280,675
Intangible Assets$57,468$57,079▼ $389
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Total Assets$116,261,312$151,458,164▲ $35,196,852
Other Assets Total$4,561,582$5,582,112▲ $1,020,530
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,731,594$7,263,638▲ $532,044
Other Liabilities$2,684,468$1,943,190▼ $741,278
Deferred Revenue$0$867,085▲ $867,085
Accounts Payable and Accrued Expenses$223,651$853,498▲ $629,847
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$20,094,094$21,016,131▲ $922,037
Net Assets / Fund Balance
Unrestricted Net Assets$95,981,910$130,323,645▲ $34,341,735
Temporarily Rstr Net Assets$185,308$118,388▼ $66,920
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$96,167,218$130,442,033▲ $34,274,815
Total Liabilities and Net Assets / Fund Balance$116,261,312$151,458,164▲ $35,196,852

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$192,469$243,733$436,202
Other Land Buildings$130,861$445$131,306
Investment Program Related Org$490,381--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patricia BeldenManaging Director & COOFT$234,340$264,821$499,161
W Bart LloydManag. Director Acq & Gen. CounselFT$183,088$274,692$457,780
Laura vennardtreasurer, manag. Director & CFOFT$227,686$218,106$445,792
Lee Felgarpresident of PHM LLCFT$246,000$146,102$392,102
Rodger BrownManaging Dir., Real Estate DevFT$207,103$177,207$384,310
Amy AnthonyPresidentFT$310,020$16,194$326,214
Rochelle BeeksCOO of Phm LLCFT$189,490$132,678$322,168
Alexandra DaileySenior Asset ManagerFT$131,223$142,428$273,651
Jeanne TaylorCFO of PHM LLCFT$170,791$76,913$247,704
kathleen carpenterdirector of human resourcesFT$102,879$110,784$213,663
William EagerVice President, Chicago OfficeFT$137,025$52,255$189,280
Andrew SpoffordSecretaryFT$118,589-$118,589
Mark GoldhaberDirector-$7,500-$7,500
Georgia Murraydirector-$6,000-$6,000
Herbert MorseDirector-$6,000-$6,000
George LatimerDirector, Term Ended 10/24/13-$6,000-$6,000
Reese FaydeDirector-$6,000-$6,000
William ApgarDirector-$5,500-$5,500
Estelle RichmanDirector-$3,000-$3,000
Jarrett BarriosDirector-$2,500-$2,500

Highest Paid Contractors

ContractorServicesLocationCompensation
Metropolitan Family ServicesConsulting Services-$470,573
compushare incit support services-$181,047
Cohnreznick LLPAccounting Services-$100,640
Revenue and Support

Revenue Composition

Contributions and Grants
$4,711,174
Program Service Revenue
$51,785,793
Investment Income
$1,751,014
Other Revenue
$0
All Other Contributions
$3,294,712
Change in Net Assets
$30,745,107

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 AmountValuation Method
Other Non Cash Contri Table2$3,160,000appraisal
Total Noncash Contributions2$3,160,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$20,676,626
Other Expenses$6,826,248
Total Fundraising Expense$318,281
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$14,536,941$542,739$135,685$15,215,365
Current Officers, Directors, Trustees, and Key Employees$2,589,334$408,053$91,388$3,088,775
Payroll Taxes$1,482,572$65,350$16,338$1,564,260
All Other Expenses$1,359,775--$1,359,775
Interest$1,132,924--$1,132,924
Other Employee Benefits$526,032$59,655$16,624$602,311
Occupancy$499,639$69,326$19,319$588,284
Fees for Services Other$268,819$200,617-$469,436
Travel$365,240$76,609-$441,849
Office Expenses$363,508$50,437$14,056$428,001
Information Technology$350,894$48,687$13,568$413,149
Pension Plan Contributions$174,887$24,266$6,762$205,915
Fees for Services Accounting-$175,490-$175,490
Fees for Services Legal$103,852$52,128-$155,980
Other Expenses$141,204$12,052$4,541$141,204
Depreciation Depletion$83,944--$83,944
Conferences and Meetings$57,690$6,066-$63,756
Advertising$62,844--$62,844
Insurance$60,639--$60,639
Total Functional Expenses$25,393,118$1,791,475$318,281$27,502,874
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Housing investments inc hiiwholly owned by Poah's prPurchase of Poah LLC InterestNo$869,213

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$10,454,381$10,088,720▼ $365,661
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Expenses$1,255,739
Due to Related Organizations$245,036
Operating Loss Loan Payable$181,414
Development Costs Payable$149,290
Accrued Interest$111,711
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

part VI SECTION A QUESTION 3

Preservation of Affordable Housing Inc's Board of Directors sets policy for the organization, approves acquisitions, joint ventures, approves annual budgets and appoints officers of the organization.

part VI section B question 11

APPROVAL OF THE 990 WAS ASSIGNED TO THE AUDIT COMMITTEE BY THE BOARD MEMBERS. the audit committee reviewed, discussed and approved the 990 for filing. A copy of the 990 prepared for filing was given to each board member prior to filing.

part VI SECTION B QUESTION 12

BOARD MEMBERS, OFFICERS, AND STAFF ARE COVERED by A CONFLICT OF INTEREST POLICY. THE CHAIR AND PRESIDENT MONITOR TRANSACTIONS FOR POTENTIAL CONFLICTS AND EXPECT OTHERS ACTING ON BEHALF OF POAH TO DO THE SAME. ANY POTENTIAL CONFLICTS OF INTEREST ARE DISCUSSED BY THE BOARD, WHICH ENFORCES THE POLICY. THE BOARD VOTES ON ANY CONFLICTS AND ON THE ORGANIZATION'S MAJOR EXPENDITURES AFTER DISCUSSION, WITHOUT THE PARTICIPATION OF ANY CONFLICTED PARTY.

part VI SECTION B QUESTION 15

COMPENSATION FIGURES FOR THE president AND KEY EMPLOYEES WERE PRESENTED TO A COMMITTEE OF THE BOARD FOR REVIEW AND APPROVAL.

part VI SECTION C QUESTION 19

These documents are available upon request.

Form 990, Part I, Line 15 & Part VII, Section A

In 2013, related organizations poah llc and phm llc are considered disregarded entities. Salaries, compensation and other benefits for certain employees previously reported as paid from a related organization are now reported as paid from poah.

part VI SECTION B QUESTION 14

POAH, the filing organization, has a written document retention and destruction policy. POAH's policy applies to Preservation of Affordable Housing, LLC, a disregarded entity. Preservation Housing Management LLC, a disregarded entity of POAH, abides by a document retention and destruction policy that has not been formally adopted but will be during 2014.

Filing and Contact Details

Filer

EIN
31-1616634
In Care Of
% LAURA VENNARD
Phone
6172619898

Signing Officer

Name
amy anthony
Title
president
Phone
6172619898
Signed
2014-09-15
Discuss with paid preparer
Yes

Organization Details

Formed
1998
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
7
Employees
450

Preparer

Preparer
thomas lanning
Phone
6172619898
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Adjustment due to elimination of investments in poah llc and phm = 3,529,708.

Financial Statement Notes

Part XI

No separate audit, consolidated audit filed.

fin 48

The Company is exempt from federal income taxes under the provisions of the Internal Revenue Code Section 501(c)(3) and did not have any unrelated business income for the years ended December 31, 2013 and 2012. No provision or benefit for income taxes has been included in these financial statements for POAH LLC, PHM LLC, and the entities controlled by POAH or an affiliate since the limited liability company's net taxable profit or loss is passed through to the individual members. The Company is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Company has no other tax positions which must be considered for disclosure. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2010 remain open.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR, TERM ENDED 10/24/13
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5director
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9MANAG. DIR. ACQ & GEN. COUNSEL
IRS990/Form990PartVIISectionAGrp/TitleTxt10treasurer, manag. dir & cfo
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt12president of PHM LLC
IRS990/Form990PartVIISectionAGrp/TitleTxt13MANAGING DIRECTOR & COO
IRS990/Form990PartVIISectionAGrp/TitleTxt14MANAGING DIR., REAL ESTATE DEV
IRS990/Form990PartVIISectionAGrp/TitleTxt15director of human resources
IRS990/Form990PartVIISectionAGrp/TitleTxt16SENIOR ASSET MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt17CFO of PHM LLC
IRS990/Form990PartVIISectionAGrp/TitleTxt18COO OF PHM LLC
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE PRESIDENT, CHICAGO OFFICE
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,147$772$374$137$119$18.1
2023Detailed filing. Detailed filing data is available for this year.$870$528$342$145$113$32.8
2022Detailed filing. Detailed filing data is available for this year.$669$366$302$148$105$43.8
2021Detailed filing. Detailed filing data is available for this year.$607$351$256$179$108$70.7
2020Detailed filing. Detailed filing data is available for this year.$426$236$191$79.5$79.5$0.05
2019Detailed filing. Detailed filing data is available for this year.$388$199$189$78.3$65.4$12.9
2018Detailed filing. Detailed filing data is available for this year.$301$118$183$68.3$58.7$9.64
2017Detailed filing. Detailed filing data is available for this year.$264$92.6$172$71.5$52.8$18.7
2016Detailed filing. Detailed filing data is available for this year.$189$28.3$161$56.0$40.4$15.6
2015Detailed filing. Detailed filing data is available for this year.$169$26.0$143$38.5$32.4$6.10
2014Detailed filing. Detailed filing data is available for this year.$157$20.0$137$39.0$30.0$9.02
2013Detailed filing. Detailed filing data is available for this year.$151$21.0$130$58.2$27.5$30.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.6$9.87$44.7$2.38
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.7$6.75$44.0$1.65