Civic Intelligence

Pyramid Residential Community Development Corp

990 • Fiscal year 2016 • EIN 31-1619755

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 11, 2018

Organization ProfileN/A
12401 South Post OakHouston, TX 77045

(713) 783-0211

Siviq Scores

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

Liabilities / Assets

97th percentile

2.24x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

3.05x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

1st percentile

-785%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

3rd percentile

-87%

Faster asset growth than 3% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

-31%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$238,448

Down $1,620,981 (-87%) from 2015

Net Assets

Down

-$294,946

Down $1,370,982 (-127%) from 2015

Liabilities

Down

$533,394

Down $249,999 (-32%) from 2015

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin1st percentile

Revenue

Down

$174,748

Down $79,148 (-31%) from 2015

Expenses

Up

$1,545,730

Up $1,113,259 (+257%) from 2015

Net Income

Down

-$1,370,982

Down $1,192,407 (-668%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $4,580,038Liabilities 2010: $2,508,743Net Assets 2010: $2,071,2952010Assets 2011: $3,675,045Liabilities 2011: $2,082,782Net Assets 2011: $1,592,2632011Assets 2012: $3,158,701Liabilities 2012: $1,624,605Net Assets 2012: $1,534,0962012Assets 2013: $2,572,607Liabilities 2013: $1,132,065Net Assets 2013: $1,440,5422013Assets 2014: $1,857,196Liabilities 2014: $602,585Net Assets 2014: $1,254,6112014Assets 2015: $1,859,429Liabilities 2015: $783,393Net Assets 2015: $1,076,0362015Assets 2016: $238,448Liabilities 2016: $533,394Net Assets 2016: -$294,9462016

Highlighted filing

2016

Assets$238,448
Liabilities$533,394
Net Assets-$294,946
Open 2016 Filing

Operations Trend

Revenue Growth17th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $183,8472010Expenses 2011: $732,9282011Expenses 2012: $312,0632012Revenue 2013: $253,896Expenses 2013: $347,450Net Income 2013: -$93,5542013Revenue 2014: $253,896Expenses 2014: $439,827Net Income 2014: -$185,9312014Revenue 2015: $253,896Expenses 2015: $432,471Net Income 2015: -$178,5752015Revenue 2016: $174,748Expenses 2016: $1,545,730Net Income 2016: -$1,370,9822016

Highlighted filing

2016

Revenue$174,748
Expenses$1,545,730
Net Income-$1,370,982
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 11, 2018
Return Version
2016v3.1
Gross Receipts
$174,748
Mission and Program Overview

Mission

To build affordable housing for persons of low and moderate income and elderly persons in the houston metropolitan area; by providing credit counseling to potential homebuyers; by educating future homeowners as to the benefits and responsibilities of successful home ownership; and by providing financial assistance to be used in futherance of the exempt purposes of the pcdc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,137,138--
Cash and Non-Interest-Bearing Accounts$722,291$238,448▼ $483,843
Total Assets$1,859,429$238,448▼ $1,620,981
Liabilities
Mortgage Notes Payable Secured by Investment Property$783,143$533,144▼ $249,999
Accounts Payable and Accrued Expenses$250$250→ $0
Total Liabilities$783,393$533,394▼ $249,999
Net Assets / Fund Balance
Temporarily Rstr Net Assets$6,217--
Unrestricted Net Assets$1,069,819$-294,946▼ $1,364,765
Total Net Assets Fund Balance$1,076,036$-294,946▼ $1,370,982
Total Liabilities and Net Assets / Fund Balance$1,859,429$238,448▼ $1,620,981
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Genora BoykinsChairperson
J Otis MitchellDirector
Deborah AndersonEx Director
Lee HallTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$174,748
Other Revenue
$0
Change in Net Assets
$-1,370,982
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,545,730
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
Interest$21,124$431-$21,555
Fees for Services Accounting$3,555$395-$3,950
Other Expenses$525$15,485-$525
Total Functional Expenses$1,408,419$137,311$0$1,545,730
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
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
No
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

“Our cpa prepares the form 990 for the board of directors review. Once the board approves the form 990 our cpa files the return electronically.”

Form 990, Page 6, Part VI, Line 15A

“MARKET VALUE”

Form 990, Page 6, Part VI, Line 15B

“MARKET VALUE”

Form 990, Page 6, Part VI, Line 19

“The form 990 is mailed, faxed or emailed if a copy is requested.”

Filing and Contact Details

Filer

Filer Name
Pyramid Residential Community
EIN
31-1619755
Phone
7137830211
Address
12401 SOUTH POST OAK, HOUSTON, TX 77045
Doing Business As
Pyramid Residential Community Corp

Signing Officer

Name
Genora Boykins
Title
Chairperson
Phone
7137236837
Signed
2018-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Genora Boykins
Formed
1997
Legal Domicile
TX
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
J Otis Mitchell Co Pc
Address
10777 WESTHEIMER RD STE 1100, HOUSTON, TX 77042
Preparer
J Otis Mitchell
Phone
7137830211
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To build affordable housing for persons of low and moderate income and elderly persons in the houston metropolitan area; by providing credit counseling to potential homebuyers; by educating future homeowners as to the benefits and responsibilities of successful home ownership; and by providing financial assistance to be used in futherance of the exempt purposes of the pcdc.”

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

“Prcc sold 9 additional lots in phase i section ii, for a total of 128 lots. Prcc also sold 187 lots in phase ii section ii to three selected homebuilders to construct the homes in corinthian pointe. A total of 462 lots have been sold for homes in corinthian pointe as of december 2007. Prcc facilitated a mentorship program between the major homebuilder in corinthian pointe and the two smaller builders. Prcc facilitated the donation of ten acres of land to houston independent school district for an elementary school. The school opened fall 2005.”

Form 990, Part XI, Line 9

“Fund balance adjustment 0”

Raw XML Appendix272 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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IRS990/Desc0PRCC CONCENTRATED ON DEVELOPING THE CORINTHIAN POINT RESIDENTIAL COMMUNITY WHICH WILL HAVE A TOTAL OF 462 SINGLE -FAMILY HOMES. IN OUR COMMITMENT OF AFFORDABILITY, 80% OF THE HOMES WILL BE PRICED UNDER THE MAXIMUM SALES PRICE FOR THE CITY OF HOUSTON HOMEBUYER ASSISTANCE PROGRAMS, WHICH WAS 103,000 AS OF DECEMBER 31, 2000. ALSO AT LEAST 1/3 OF THE FAMILIES WILL EARN 80% OF THE HOUSTON AREA MEDIAN INCOME OR LESS. CORINTHIAN POINTE IS LOCATED IN A TAX INCREMENT REINVESTMENT ZONE (TIRZ). PRCC DIVIDED THE RESIDENTIAL DEVELOPMENT INTO THREE PHASES. PRCC COMPLETED THE INFRASTRUCTURE DEVELOPMENT FOR THE FIRST 129 HOMES (PHASE I SECTION II) IN FEBRUARY 2000. PRCC COMPLETED THE INFRASTRUCTURE DEVELOPMENT FOR PHASE II SECTION III, WHICH ARE THE NEXT 194 HOMES IN JULY 2001. PRCC SOLD 9 ADDITIONAL LOTS IN PHASE I SECTION II, FOR A TOTAL OF 128 LOTS. PRCC ALSO SOLD 187 LOTS IN PHASE II SECTION II TO THREE SELECTED HOMEBUILDERS TO CONSTRUCT THE HOMES IN CORINTHIAN POINTE. A TOTAL OF 462 LOTS HAVE BEEN SOLD FOR HOMES IN CORINTHIAN POINTE AS OF DECEMBER 2007. PRCC FACILITATED A MENTORSHIP PROGRAM BETWEEN THE MAJOR HOMEBUILDER IN CORINTHIAN POINTE AND THE TWO SMALLER BUILDERS. PRCC FACILITATED THE DONATION OF TEN ACRES OF LAND TO HOUSTON INDEPENDENT SCHOOL DISTRICT FOR AN ELEMENTARY SCHOOL. THE SCHOOL OPENED FALL 2005.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRCC SOLD 9 ADDITIONAL LOTS IN PHASE I SECTION II, FOR A TOTAL OF 128 LOTS. PRCC ALSO SOLD 187 LOTS IN PHASE II SECTION II TO THREE SELECTED HOMEBUILDERS TO CONSTRUCT THE HOMES IN CORINTHIAN POINTE. A TOTAL OF 462 LOTS HAVE BEEN SOLD FOR HOMES IN CORINTHIAN POINTE AS OF DECEMBER 2007. PRCC FACILITATED A MENTORSHIP PROGRAM BETWEEN THE MAJOR HOMEBUILDER IN CORINTHIAN POINTE AND THE TWO SMALLER BUILDERS. PRCC FACILITATED THE DONATION OF TEN ACRES OF LAND TO HOUSTON INDEPENDENT SCHOOL DISTRICT FOR AN ELEMENTARY SCHOOL. THE SCHOOL OPENED FALL 2005.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUR CPA PREPARES THE FORM 990 FOR THE BOARD OF DIRECTORS REVIEW. ONCE THE BOARD APPROVES THE FORM 990 OUR CPA FILES THE RETURN ELECTRONICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MARKET VALUE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MARKET VALUE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 IS MAILED, FAXED OR EMAILED IF A COPY IS REQUESTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FUND BALANCE ADJUSTMENT 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
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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ReasonableCauseExplanation/ExplanationTxt0OUR FORM 990 WAS DELAYED DUE TO THE EFFECTS OF HURRICANE HARVEY. OUR CPA FIM, J. OTIS MITCHELL CO., P.C. IS LOCATED IN HOUSTON, TEXAS (10777 WESTHEIMER, SUITE 1100, HOUSTON, TX 77042) WHICH WAS DECLARED A NATURAL DISASTER AS A RESULT OF THE DEVESTATION AND DESTRUCTION CAUSED BY THE FLOOD WATERS OF HURRICANE HARVEY. SOME OF OUR RECORDS WERE DESTROYED IN THE FLOOD WATERS AND IT HAS TAKEN AWHILE TO RECOVER THE DOCUMENTS NECESSARY TO COMPLETE THIS RETURN. OUR CPA'S OPERATIONS WERE ADVERSELY AFFECTED AS A RESULT OF THE DEVESTATING FLOOD WATERS, THEREFORE MAKING IT DIFFICULT TO PROCESS OUR RETURN TIMELY. PLEASE ABATE ANY PENALTIES AND RELATED INTEREST.
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GENORA BOYKINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRPERSON
ReturnHeader/BusinessOfficerGrp/PhoneNum07137236837
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PYRAMID RESIDENTIAL COMMUNITY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0PYRA
ReturnHeader/Filer/EIN0311619755
ReturnHeader/Filer/PhoneNum07137830211
ReturnHeader/Filer/USAddress/AddressLine1Txt012401 SOUTH POST OAK
ReturnHeader/Filer/USAddress/CityNm0HOUSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077045
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0EC3CFB9FF873EC89FAAF1F420748751FA338FCC8
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DDE233634772D10E504DC8FE768467BD9E5983F9
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0760143330
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0J OTIS MITCHELL CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010777 WESTHEIMER RD STE 1100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOUSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077042
ReturnHeader/PreparerPersonGrp/PhoneNum07137830211
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J OTIS MITCHELL
ReturnHeader/ReturnTs02018-11-11T19:39:15-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$238,448
Liabilities
$533,394
Net assets
-$294,946
Revenue
$174,748
Expenses
$1,545,730
Net income
-$1,370,982
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.24$0.53$0.29$0.17$1.55$1.37
2015Detailed filing. Detailed filing data is available for this year.$1.86$0.78$1.08$0.25$0.43$0.18
2014Detailed filing. Detailed filing data is available for this year.$1.86$0.60$1.25$0.25$0.44$0.19
2013Detailed filing. Detailed filing data is available for this year.$2.57$1.13$1.44$0.25$0.35$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.16$1.62$1.53$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.68$2.08$1.59$0.73
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.58$2.51$2.07$0.18
Peer Organizations

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