Civic Intelligence

Erc Properties Foundation

990 • Fiscal year 2022 • EIN 36-4390321

Jul 01, 2021 to Jun 30, 2022 • Filed on May 09, 2023

Organization Profile
3942 W North AveChicago, IL 60647

(773) 564-9070

Siviq Scores

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

Liabilities / Assets

81st percentile

0.73x

Higher debt load relative to assets than 81% of similar nonprofits.

2022 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

72nd percentile

4.44x

Higher debt load relative to revenue than 72% of similar nonprofits.

2022 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2022

Net Margin

59th percentile

21%

Higher net margin than 59% of similar nonprofits.

2022 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2022 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2022

Asset Growth

75th percentile

2.8%

Faster asset growth than 75% of similar nonprofits.

2022 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

76th percentile

25%

Faster revenue growth than 76% of similar nonprofits.

2022 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$3,602,931

Up $98,127 (+2.8%) from 2021

Net Assets

Up

$963,161

Up $146,631 (+18%) from 2021

Liabilities

Down

$2,639,770

Down $48,504 (-1.8%) from 2021

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin59th percentile

Revenue

Up

$593,964

Up $119,644 (+25%) from 2021

Expenses

Down

$467,070

Down $44,432 (-8.7%) from 2021

Net Income

Up

$126,894

Up $164,076 (+441%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $2,068,526Liabilities 2012: $1,106,549Net Assets 2012: $961,9772012Assets 2013: $2,178,032Liabilities 2013: $1,183,473Net Assets 2013: $994,5592013Assets 2014: $3,248,076Liabilities 2014: $2,382,375Net Assets 2014: $865,7012014Assets 2015: $3,159,449Liabilities 2015: $2,416,169Net Assets 2015: $743,2802015Assets 2016: $3,066,682Liabilities 2016: $2,358,198Net Assets 2016: $708,4842016Assets 2017: $2,985,805Liabilities 2017: $2,279,151Net Assets 2017: $706,6542017Assets 2018: $3,001,850Liabilities 2018: $2,191,431Net Assets 2018: $810,4192018Assets 2019: $3,418,781Liabilities 2019: $2,715,658Net Assets 2019: $703,1232019Assets 2020: $3,480,007Liabilities 2020: $2,734,524Net Assets 2020: $745,4832020Assets 2021: $3,504,804Liabilities 2021: $2,688,274Net Assets 2021: $816,5302021Assets 2022: $3,602,931Liabilities 2022: $2,639,770Net Assets 2022: $963,1612022Assets 2023: $3,715,777Liabilities 2023: $2,577,704Net Assets 2023: $1,138,0732023Assets 2024: $3,865,103Liabilities 2024: $2,570,399Net Assets 2024: $1,294,7042024

Highlighted filing

2022

Assets$3,602,931
Liabilities$2,639,770
Net Assets$963,161
Open 2022 Filing

Operations Trend

Revenue Growth76th percentile

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

$1.0M$500K$0-$500KExpenses 2012: $193,1372012Expenses 2013: $227,9052013Revenue 2014: $278,838Expenses 2014: $407,696Net Income 2014: -$128,8582014Revenue 2015: $312,679Expenses 2015: $435,101Net Income 2015: -$122,4222015Revenue 2016: $312,244Expenses 2016: $347,040Net Income 2016: -$34,7962016Revenue 2017: $331,669Expenses 2017: $338,499Net Income 2017: -$6,8302017Revenue 2018: $536,487Expenses 2018: $430,657Net Income 2018: $105,8302018Revenue 2019: $517,918Expenses 2019: $510,922Net Income 2019: $6,9962019Revenue 2020: $480,603Expenses 2020: $451,346Net Income 2020: $29,2572020Revenue 2021: $474,320Expenses 2021: $511,502Net Income 2021: -$37,1822021Revenue 2022: $593,964Expenses 2022: $467,070Net Income 2022: $126,8942022Revenue 2023: $706,672Expenses 2023: $535,448Net Income 2023: $171,2242023Revenue 2024: $704,480Expenses 2024: $552,302Net Income 2024: $152,1782024

Highlighted filing

2022

Revenue$593,964
Expenses$467,070
Net Income$126,894
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 9, 2023
Return Version
2021v4.0
Gross Receipts
$593,964
Mission and Program Overview

Mission

To own and operate property in support of not for profit entities, specifically rincon family services f/k/a el rincon community clinic a related affiliate.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,166,111$2,855,937▼ $310,174
Accounts Receivable$207,464$291,294▲ $83,830
Cash and Non-Interest-Bearing Accounts$97,778$59,112▼ $38,666
Other Notes and Loans Receivable, Net$7,310$7,310→ $0
Total Assets$3,504,804$3,602,931▲ $98,127
Other Assets Total$26,141$389,278▲ $363,137
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,714,828--
Unsecured Notes Loans Payable-$1,615,386-
Other Liabilities$936,429$982,736▲ $46,307
Accounts Payable and Accrued Expenses$37,017$41,648▲ $4,631
Total Liabilities$2,688,274$2,639,770▼ $48,504
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$816,530$963,161▲ $146,631
Total Net Assets Fund Balance$816,530$963,161▲ $146,631
Total Liabilities and Net Assets / Fund Balance$3,504,804$3,602,931▲ $98,127

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,420,345$1,996,683$4,417,028
Land$435,592-$435,592
Other Assets Org$10,534--
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Edith FelicianoChairperson
Eddy BorrayoCEO
Josephine PachechoSecretary
Bruce DomashTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$593,964
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$126,894
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$467,070
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
Occupancy$137,184--$137,184
Depreciation Depletion$125,355--$125,355
Fees for Services Other$110,716--$110,716
Interest$93,815--$93,815
Total Functional Expenses$467,070$0$0$467,070
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany Loans, Adv, and Payable$978,386
Security Deposits$4,350
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
Yes
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
No

Governance Explanations

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

“Member of board of directors review”

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

“Enforcement by board of directors”

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

“Board of directors reviews”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Erc Properties Foundation
EIN
36-4390321
Phone
7735649070
Address
3942 W NORTH AVE, CHICAGO, IL 60647

Signing Officer

Name
Eddy Borrayo
Title
CEO
Phone
7735649070
Signed
2023-05-09

Organization Details

Principal Officer
Eddy Borrayo
Formed
2000
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
7
Employees
0

Preparer

Firm
Arthur S Gunn Ltd
Address
900 SKOKIE BLVD STE 207, NORTHBROOK, IL 60062-4031
Preparer
Arthur S Gunn CPA
Phone
8476071040
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“OTHER & MISC 110,716 0 0”

Form 990, Part XI, Line 9

“Absorption of affiliate 0 rounding 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization (rincon family services) is from federal income taxes under sections 501(c)(3); the foundation (erc properties foundation) is exempt under section 501 (c) (2) respectively of the internal revenue code, except on net income derived from unrelated business activities. The organization had no unrelated business income. The organization and related entities believes that they have appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization's and related entities federal exempt organization returns for the years ending june 30, 2019, 2020 and 2021 are subject to examination by the irs, generally for three years after they were filed. Any tax years prior to july 1, 2018 different are considered closed. The tax returns for the year ended june 30, 2022 has not been filed as of the date of this report and is currently on extension.”

Raw XML Appendix283 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/ExplanationTxt0THE ORGANIZATION (RINCON FAMILY SERVICES) IS FROM FEDERAL INCOME TAXES UNDER SECTIONS 501(C)(3); THE FOUNDATION (ERC PROPERTIES FOUNDATION) IS EXEMPT UNDER SECTION 501 (C) (2) RESPECTIVELY OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. THE ORGANIZATION HAD NO UNRELATED BUSINESS INCOME. THE ORGANIZATION AND RELATED ENTITIES BELIEVES THAT THEY HAVE APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S AND RELATED ENTITIES FEDERAL EXEMPT ORGANIZATION RETURNS FOR THE YEARS ENDING JUNE 30, 2019, 2020 AND 2021 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. ANY TAX YEARS PRIOR TO JULY 1, 2018 DIFFERENT ARE CONSIDERED CLOSED. THE TAX RETURNS FOR THE YEAR ENDED JUNE 30, 2022 HAS NOT BEEN FILED AS OF THE DATE OF THIS REPORT AND IS CURRENTLY ON EXTENSION.
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IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0EDDY BORRAYO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07735649070
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ReturnHeader/ReturnTs02023-05-09T17:56:58-04:00
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ReturnHeader/TaxYr02021

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,602,931
Liabilities
$2,639,770
Net assets
$963,161
Revenue
$593,964
Expenses
$467,070
Net income
$126,894
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.87$2.57$1.29$0.70$0.55$0.15
2023Detailed filing. Detailed filing data is available for this year.$3.72$2.58$1.14$0.71$0.54$0.17
2022Detailed filing. Detailed filing data is available for this year.$3.60$2.64$0.96$0.59$0.47$0.13
2021Detailed filing. Detailed filing data is available for this year.$3.50$2.69$0.82$0.47$0.51$0.04
2020Detailed filing. Detailed filing data is available for this year.$3.48$2.73$0.75$0.48$0.45$0.03
2019Detailed filing. Detailed filing data is available for this year.$3.42$2.72$0.70$0.52$0.51$0.01
2018Detailed filing. Detailed filing data is available for this year.$3.00$2.19$0.81$0.54$0.43$0.11
2017Detailed filing. Detailed filing data is available for this year.$2.99$2.28$0.71$0.33$0.34$0.01
2016Detailed filing. Detailed filing data is available for this year.$3.07$2.36$0.71$0.31$0.35$0.03
2015Detailed filing. Detailed filing data is available for this year.$3.16$2.42$0.74$0.31$0.44$0.12
2014Detailed filing. Detailed filing data is available for this year.$3.25$2.38$0.87$0.28$0.41$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.18$1.18$0.99$0.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.07$1.11$0.96$0.19