Civic Intelligence

North Square Gateway Terrace Inc.

990 • Fiscal year 2014 • EIN 31-1693980

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 23, 2015

Refreshing map…

232 North Elm StreetWaterbury, CT 06702

(203) 575-9799

Siviq Scores

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

Liabilities / Assets

94th percentile

1.17x

Higher debt load relative to assets than 94% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

98th percentile

12.74x

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

12th percentile

-24%

Higher net margin than 12% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

95th percentile

$342,944

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 220.3% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

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

Source year 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Assets

$1,692,711

No earlier filing loaded for comparison.

Net Assets

-$290,415

No earlier filing loaded for comparison.

Liabilities

$1,983,126

No earlier filing loaded for comparison.

Revenue

$155,664

No earlier filing loaded for comparison.

Expenses

$192,798

No earlier filing loaded for comparison.

Net Income

-$37,134

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.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2014: $1,692,711Liabilities 2014: $1,983,126Net Assets 2014: -$290,4152014Assets 2015: $1,657,770Liabilities 2015: $1,985,653Net Assets 2015: -$327,8832015Assets 2016: $1,609,269Liabilities 2016: $1,988,043Net Assets 2016: -$378,7742016Assets 2017: $1,549,395Liabilities 2017: $1,955,198Net Assets 2017: -$405,8032017Assets 2018: $1,507,501Liabilities 2018: $1,955,073Net Assets 2018: -$447,5722018Assets 2019: $1,403,674Liabilities 2019: $1,900,789Net Assets 2019: -$497,1152019Assets 2020: $1,470,727Liabilities 2020: $2,016,425Net Assets 2020: -$545,6982020Assets 2021: $1,375,660Liabilities 2021: $2,013,403Net Assets 2021: -$637,7432021Assets 2022: $1,243,694Liabilities 2022: $1,978,991Net Assets 2022: -$735,2972022Assets 2024: $1,139,460Liabilities 2024: $2,011,484Net Assets 2024: -$872,0242024

Highlighted filing

2014

Assets$1,692,711
Liabilities$1,983,126
Net Assets-$290,415

Operations Trend

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

$400K$200K$0-$200KRevenue 2014: $155,664Expenses 2014: $192,798Net Income 2014: -$37,1342014Revenue 2015: $154,258Expenses 2015: $191,726Net Income 2015: -$37,4682015Revenue 2016: $151,376Expenses 2016: $202,267Net Income 2016: -$50,8912016Revenue 2017: $183,418Expenses 2017: $210,447Net Income 2017: -$27,0292017Revenue 2018: $189,051Expenses 2018: $230,820Net Income 2018: -$41,7692018Revenue 2019: $200,003Expenses 2019: $249,545Net Income 2019: -$49,5422019Revenue 2020: $217,941Expenses 2020: $266,524Net Income 2020: -$48,5832020Revenue 2021: $213,355Expenses 2021: $305,400Net Income 2021: -$92,0452021Revenue 2022: $195,280Expenses 2022: $292,834Net Income 2022: -$97,5542022Revenue 2024: $236,137Expenses 2024: $308,966Net Income 2024: -$72,8292024

Highlighted filing

2014

Revenue$155,664
Expenses$192,798
Net Income-$37,134
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 23, 2015
Return Version
2014v5.0
Gross Receipts
$155,664
Mission and Program Overview

Mission

To provide affordable housing to low income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,604,170$1,535,844▼ $68,326
Cash and Non-Interest-Bearing Accounts$1,330$40,643▲ $39,313
Accounts Receivable$29,353$545▼ $28,808
Total Assets$1,707,584$1,692,711▼ $14,873
Other Assets Total$72,731$115,679▲ $42,948
Liabilities
Other Liabilities$1,939,838$1,967,786▲ $27,948
Accounts Payable and Accrued Expenses$21,027$15,340▼ $5,687
Total Liabilities$1,960,865$1,983,126▲ $22,261
Net Assets / Fund Balance
Unrestricted Net Assets$-253,281$-290,415▼ $37,134
Total Net Assets Fund Balance$-253,281$-290,415▼ $37,134
Total Liabilities and Net Assets / Fund Balance$1,707,584$1,692,711▼ $14,873

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,426,862$587,531$2,014,393
Land$108,000-$108,000
Equipment$982$43,470$44,452
Other Assets Org$22,377--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$155,296
Investment Income
$11
Other Revenue
$357
Change in Net Assets
$-37,134

Audited Revenue Reconciliation

Revenue per Audited Statements
$155,664
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$155,664
Total Revenue per Form 990
$155,664
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$192,798
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$68,326--$68,326
Occupancy$67,317--$67,317
Fees for Services Management-$7,783-$7,783
Fees for Services Accounting-$6,000-$6,000
Fees for Services Legal-$4,895-$4,895
Insurance$4,740--$4,740
Office Expenses-$4,128-$4,128
Other Expenses$25,652$3,420-$3,420
All Other Expenses$425$112-$537
Total Functional Expenses$166,460$26,338$0$192,798

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$192,798
Total Expenses per Audited Statements$192,798
Total Expenses per Form 990$192,798
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Juanita AlagrinTenant Rep to Board of DirectorsRent PaymentNo$2,299
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Advance$1,870,700
Due to Affiliate$93,898
Tenant Security Deposts$3,188
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization delegates control over management duties to new opportunities, inc. A related 501(c)3 organization.

Form 990, Part VI, Section A, Line 8B

There are no committees of the governing body.

Form 990, Part VI, Section B, Line 11

Form 990 is reviewed by the chief finance officer of new opportunities inc., and is then circulated to the board of directors for their review

Form 990, Part VI, Section B, Line 15

The organization does not compensate the executtive director, officers or key employees

Form 990, Part VI, Section C, Line 19

The financial statements and the form 990 are available upon request at the office of north square gateway terrace, inc.

Filing and Contact Details

Filer

Filer Name
North Square Gateway Terrace Inc
EIN
31-1693980
Phone
2035759799
Address
232 NORTH ELM STREET, WATERBURY, CT 06702

Signing Officer

Name
James Gatling
Title
Chairman
Phone
2035759799
Signed
2015-09-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr James Gatling
Formed
2000
Legal Domicile
Ct
Voting Board Members
7
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
BLUM SHAPIRO & COMPANY PC CPA'S
Address
29 S MAIN STREET PO BOX 272000, WEST HARTFORD, CT 06127-2000
Preparer
Reed Risteen
Phone
8605614000
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0125031
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0123809
IRS990ScheduleA/Total509Grp/TotalAmt0668672
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0155664
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0128087
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0137073
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0125737
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0124530
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0671091
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01426862
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0587531
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02014393
IRS990ScheduleD/EquipmentGrp/BookValueAmt0982
IRS990ScheduleD/EquipmentGrp/DepreciationAmt043470
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt044452
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0192798
IRS990ScheduleD/LandGrp/BookValueAmt0108000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0108000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03188
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt16115
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt283999
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt322377
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MORTGAGE ESCROW DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt093898
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13188
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21870700
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CAPITAL ADVANCE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0155664
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01535844
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0115679
IRS990ScheduleD/TotalExpensesPerForm990Amt0192798
IRS990ScheduleD/TotalLiabilityAmt01967786
IRS990ScheduleD/TotalRevenuePerForm990Amt0155664
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0155664
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0192798
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/DiscretionarySpendingAcctInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0269111
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1159448
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt048566
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt025267
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt112691
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JAMES H GATLING
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1TONI HIRST
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHAIRMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0342944
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1172139
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JUANITA ALAGRIN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0TENANT REP TO BOARD OF DIRECTORS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt02299
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RENT PAYMENT
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATES CONTROL OVER MANAGEMENT DUTIES TO NEW OPPORTUNITIES, INC. A RELATED 501(C)3 ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE CHIEF FINANCE OFFICER OF NEW OPPORTUNITIES INC., AND IS THEN CIRCULATED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT COMPENSATE THE EXECUTTIVE DIRECTOR, OFFICERS OR KEY EMPLOYEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FINANCIAL STATEMENTS AND THE FORM 990 ARE AVAILABLE UPON REQUEST AT THE OFFICE OF NORTH SQUARE GATEWAY TERRACE, INC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd20

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