Civic Intelligence

Multifamily Insurance Trust

990 • Fiscal year 2019 • EIN 35-7086833

Jun 01, 2018 to May 31, 2019 • Filed on Aug 23, 2021

Organization ProfileN/A

View Organization Page

4 executive blvdsuffern, NY 10901

(845) 368-2400

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.17x

Higher debt load relative to assets than 73% of similar nonprofits.

2019 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

41st percentile

0.01x

Higher debt load relative to revenue than 41% of similar nonprofits.

2019 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2019

Net Margin

60th percentile

7.4%

Higher net margin than 60% of similar nonprofits.

2019 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2019 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Balance Sheet
Liabilities / Assets73rd percentile

Assets

$488,160

No earlier filing loaded for comparison.

Net Assets

$403,591

No earlier filing loaded for comparison.

Liabilities

$84,569

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin60th percentile

Revenue

$7,180,032

No earlier filing loaded for comparison.

Expenses

$6,651,194

No earlier filing loaded for comparison.

Net Income

$528,838

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0Assets 2019: $488,160Liabilities 2019: $84,569Net Assets 2019: $403,5912019Assets 2020: $893,579Liabilities 2020: $385,124Net Assets 2020: $508,4552020Assets 2021: $708,503Liabilities 2021: $591,169Net Assets 2021: $117,3342021Assets 2022: $791,846Liabilities 2022: $596,615Net Assets 2022: $195,2312022Assets 2023: $1,192,492Liabilities 2023: $207,190Net Assets 2023: $985,3022023Assets 2024: $1,338,481Liabilities 2024: $380,146Net Assets 2024: $958,3352024

Highlighted filing

2019

Assets$488,160
Liabilities$84,569
Net Assets$403,591
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0MRevenue 2019: $7,180,032Expenses 2019: $6,651,194Net Income 2019: $528,8382019Revenue 2020: $7,552,091Expenses 2020: $7,447,227Net Income 2020: $104,8642020Revenue 2021: $7,578,441Expenses 2021: $7,969,562Net Income 2021: -$391,1212021Revenue 2022: $8,049,430Expenses 2022: $7,971,533Net Income 2022: $77,8972022Revenue 2023: $8,734,887Expenses 2023: $7,959,826Net Income 2023: $775,0612023Revenue 2024: $8,744,630Expenses 2024: $8,827,241Net Income 2024: -$82,6112024

Highlighted filing

2019

Revenue$7,180,032
Expenses$6,651,194
Net Income$528,838
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Aug 23, 2021
Return Version
2018v3.3
Gross Receipts
$7,180,032
Mission and Program Overview

Mission

This voluntary employee benefit association provides for the payment of certain health and medical benefits to eligible employees, surviving spouses, dependents and beneficiaries.

To provide payments of certain health and medical benefits to eligible employees, surviving spouses, dependents and beneficiaries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$0$488,160▲ $488,160
Rtn Earn Endowment Incm Other Fnds$-125,247$403,591▲ $528,838
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$0$488,160▲ $488,160
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$54,000▲ $54,000
Other Liabilities$125,247$30,569▼ $94,678
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$125,247$84,569▼ $40,678
Net Assets / Fund Balance
Total Net Assets Fund Balance$-125,247$403,591▲ $528,838
Total Liabilities and Net Assets / Fund Balance$0$488,160▲ $488,160
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Samuel M RotterTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,179,903
Investment Income
$129
Other Revenue
$0
Change in Net Assets
$528,838

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,180,032
Total Revenue per Audited Statements
$7,180,032
Total Revenue per Form 990
$7,180,032
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$70,353
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
Benefits to Members---$6,580,841
Fees for Services Accounting---$54,000
Fees for Services Other---$16,353
Total Functional Expenses$0$0$0$6,651,194

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,745,872
Total Expenses per Audited Statements$6,745,872
Total Expenses per Form 990$6,651,194
Expenses Not Reported on Financial Statements$-94,678
Other Expense Adjustments$-94,678
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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
Benefit Claims Payable$30,569
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Other officer compensation reviewed
No
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, PART VI, SECTION A, LINE 8B:

“No commitee has authority to act on behalf of the governing body.”

FORM 990, PART VI, SECTION B, LINE 11B:

“The form 990 is provided to and reviewed by the board of trustees before it is filed.”

FORM 990, PART VI, SECTION C, LINE 19:

“The governing documents and financial statements of the plan are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Multifamily Insurance Trust
EIN
35-7086833
In Care Of
% SAMUEL M ROTTER
Phone
8453682400
Address
4 executive blvd, suffern, NY 10901

Signing Officer

Name
Samuel Rotter
Title
COO/CFO & Trustee
Phone
8453682400
Signed
2021-08-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Samuel M Rotter
Formed
2017
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
100 PARK AVENUE, NEW YORK, NY 10017-5001
Preparer
Paul Hammerschmidt
Phone
2128858000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“U.S. GAAP REQUIRES Multifamily Insurance Trust'S (THE "PLAN") MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.”

PART XII, LINE 4B:

“Change in benefit claims payable.......$(94,678.)”

Raw XML Appendix360 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/SupplementalInformationDetail/ExplanationTxt0U.S. GAAP REQUIRES Multifamily Insurance Trust'S (THE "PLAN") MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CHANGE IN BENEFIT CLAIMS PAYABLE.......$(94,678.)
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO COMMITEE HAS AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PROVIDED TO AND REVIEWED BY THE BOARD OF TRUSTEES BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS OF THE PLAN ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19:
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0GoldOller Management Services LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1SueHope Realty
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2Goldstein Management Inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3Madison Parke LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4Multifamily Management Philadelphia LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5Multifamily Management Services LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt6Rittenhouse Realty Advisors LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt7Rittenhouse Funding Associates LLC
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0true
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt0488160
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0488160
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt06651194
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0125247
IRS990/TotalLiabilitiesEOYAmt084569
IRS990/TotalLiabilitiesGrp/BOYAmt0125247
IRS990/TotalLiabilitiesGrp/EOYAmt084569
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-125247
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0403591
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt07179903
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0129
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07179903
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07180032
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0488160
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04 executive blvd
IRS990/USAddress/CityNm0suffern
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010901
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SAMUEL ROTTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COO/CFO & TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum08453682400
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MULTIFAMILY INSURANCE TRUST
ReturnHeader/Filer/BusinessNameControlTxt0MULT
ReturnHeader/Filer/EIN0357086833
ReturnHeader/Filer/InCareOfNm0% SAMUEL M ROTTER
ReturnHeader/Filer/PhoneNum08453682400
ReturnHeader/Filer/USAddress/AddressLine1Txt04 executive blvd
ReturnHeader/Filer/USAddress/CityNm0suffern
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010901
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BDO USA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 PARK AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0100175001
ReturnHeader/PreparerPersonGrp/PhoneNum02128858000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Paul Hammerschmidt
ReturnHeader/ReturnTs02021-08-23T10:28:43-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-06-01
ReturnHeader/TaxPeriodEndDt02019-05-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$488,160
Liabilities
$84,569
Net assets
$403,591
Revenue
$7,180,032
Expenses
$6,651,194
Net income
$528,838
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.34$0.38$0.96$8.74$8.83$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.19$0.21$0.99$8.73$7.96$0.78
2022Detailed filing. Detailed filing data is available for this year.$0.79$0.60$0.20$8.05$7.97$0.08
2021Detailed filing. Detailed filing data is available for this year.$0.71$0.59$0.12$7.58$7.97$0.39
2020Detailed filing. Detailed filing data is available for this year.$0.89$0.39$0.51$7.55$7.45$0.10
2019Detailed filing. Detailed filing data is available for this year.$0.49$0.08$0.40$7.18$6.65$0.53