Civic Intelligence

Blcs Property Holding Company Inc % Bronx Lighthouse Charter School

990 • Fiscal year 2014 • EIN 45-0900484

Jul 01, 2013 to Jun 30, 2014 • Filed on May 12, 2015

Organization ProfileWWW.LIGHTHOUSE-ACADEMIES.ORG
1001 Intervale Ave10459

(646) 915-0025

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.91x

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

2014 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

72nd percentile

19.00x

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

2014 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2014

Net Margin

22nd percentile

-41%

Higher net margin than 22% of similar nonprofits.

2014 filings • 501(c)2 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

18th percentile

$0

Higher top officer pay than 18% of similar nonprofits.

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

2014 filings • $10M-$25M nonprofits • Source year 2014

Asset Growth

40th percentile

-1.6%

Faster asset growth than 40% of similar nonprofits.

2014 filings • 501(c)2 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

12th percentile

-24%

Faster revenue growth than 12% of similar nonprofits.

2014 filings • $10M-$25M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$14,800,375

Down $233,805 (-1.6%) from 2013

Net Assets

Down

$1,405,532

Down $288,648 (-17%) from 2013

Liabilities

Up

$13,394,843

Up $54,843 (+0.4%) from 2013

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin22nd percentile

Revenue

$705,025

No earlier filing loaded for comparison.

Expenses

Up

$993,673

Up $240,613 (+32%) from 2013

Net Income

-$288,648

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $15,392,619Liabilities 2011: $13,872,786Net Assets 2011: $1,519,8332011Assets 2012: $16,193,463Liabilities 2012: $14,404,339Net Assets 2012: $1,789,1242012Assets 2013: $15,034,180Liabilities 2013: $13,340,000Net Assets 2013: $1,694,1802013Assets 2014: $14,800,375Liabilities 2014: $13,394,843Net Assets 2014: $1,405,5322014Assets 2015: $14,481,514Liabilities 2015: $13,394,843Net Assets 2015: $1,086,6712015Assets 2016: $14,101,437Liabilities 2016: $13,346,807Net Assets 2016: $754,6302016Assets 2017: $13,774,563Liabilities 2017: $13,345,303Net Assets 2017: $429,2602017Assets 2018: $13,446,406Liabilities 2018: $13,345,303Net Assets 2018: $101,1032018Assets 2019: $536,239Liabilities 2019: $0Net Assets 2019: $536,2392019Assets 2020: $537,480Liabilities 2020: $0Net Assets 2020: $537,4802020Assets 2021: $57,172Liabilities 2021: $0Net Assets 2021: $57,1722021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2014

Assets$14,800,375
Liabilities$13,394,843
Net Assets$1,405,532
Open 2014 Filing

Operations Trend

Revenue Growth12th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $1,613,941Expenses 2011: $94,108Net Income 2011: $1,519,8332011Expenses 2012: $17,9892012Expenses 2013: $753,0602013Revenue 2014: $705,025Expenses 2014: $993,673Net Income 2014: -$288,6482014Revenue 2015: $672,783Expenses 2015: $991,644Net Income 2015: -$318,8612015Revenue 2016: $658,116Expenses 2016: $990,157Net Income 2016: -$332,0412016Revenue 2017: $670,868Expenses 2017: $996,238Net Income 2017: -$325,3702017Revenue 2018: $658,272Expenses 2018: $986,429Net Income 2018: -$328,1572018Revenue 2019: $702,154Expenses 2019: $267,018Net Income 2019: $435,1362019Revenue 2020: $1,529Expenses 2020: $288Net Income 2020: $1,2412020Revenue 2021: $811Expenses 2021: $481,119Net Income 2021: -$480,3082021Revenue 2022: $0Expenses 2022: $57,172Net Income 2022: -$57,1722022

Highlighted filing

2014

Revenue$705,025
Expenses$993,673
Net Income-$288,648
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 12, 2015
Return Version
2013v4.0
Gross Receipts
$705,025
Mission and Program Overview

Mission

Provide a high school building and related facilities to lease to a new york charter school. Blcs will use the property to house administrative offices as well as all classrooms and facilities necessary to expand the grades served through the 12th grade.

Provide a high school building for a public charter school and related facilities to lease to a new york charter school. Blcs will use the property to house administrative offices as well as all classrooms and facilities necessary to expand the grades served through the 12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,940,258$14,653,023▼ $287,235
Cash and Non-Interest-Bearing Accounts$93,922$146,452▲ $52,530
Prepaid Expenses and Deferred Charges-$900-
Total Assets$15,034,180$14,800,375▼ $233,805
Liabilities
Unsecured Notes Loans Payable$13,340,000$13,340,000→ $0
Accounts Payable and Accrued Expenses-$54,843-
Total Liabilities$13,340,000$13,394,843▲ $54,843
Net Assets / Fund Balance
Unrestricted Net Assets$1,694,180$1,405,532▼ $288,648
Total Net Assets Fund Balance$1,694,180$1,405,532▼ $288,648
Total Liabilities and Net Assets / Fund Balance$15,034,180$14,800,375▼ $233,805

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,421,143$581,388$13,002,531
Land$2,231,880-$2,231,880
Compensation and Service Providers
Top Officer Pay18th percentile

Board Members and Trustees

NameTitle
Ken BlacklowChair
Jennifer KimTrustee
Mike RonanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$705,025
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-288,648
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$993,673
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---$639,340
Depreciation Depletion---$332,222
Other Expenses---$14,911
Fees for Services Other---$7,200
Total Functional Expenses$0$0$0$993,673
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
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
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

“The following board members, ken blacklow and jennifer kim, are also board members of the related organization bronx lighthouse charter school.”

Form 990, Part VI, Section A, Line 3

“Blcs property holding requires all board members to formally disclose in writing any conflict of interest matters. Board members submit updates to the conflict of interest declaration on an annual basis.”

Form 990, Part VI, Section B, Line 11

“The form 990 is reviewed by the controller of lighthouse academies, inc and with her approval is forwarded to the school's finance committee and is then reviewed by the full board prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The executive director reviews the signed conflict of interest statements on an annual basis or more often as deemed necessary.”

Form 990, Part VI, Section C, Line 19

“The financial statements and form 990 are available to the public upon request.”

Filing and Contact Details

Filer

EIN
45-0900484
Phone
6469150025

Signing Officer

Name
Ken Blacklow
Title
Chair
Phone
6469150025
Signed
2015-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Blacklow
Formed
2011
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Preparer
Tempesta Anthony
Phone
9145249000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“Blcs property holding company inc., financial statements were audited by marks paneth, llp. The organization's audit committee assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditor.”

Financial Statement Notes

PART X, LINE 2:

“Fin 48 disclosure - the organization adopted the provisions of fasb interpretation no. 48 ("fin 48"), accounting for uncertainty in income taxes - an interpretation of fasb statement no. 109" now incorporated in asc 740, which provides standards for establishing and classifying any tax provision for uncertain tax provisions and recognizing any interest and penalties. The adoption of fin 48 did not have a material effect on the organization's financial position as of june 30, 2014 or the results of operations and cash flows for the year ended june 30, 2014. As of june 30, 2014, the organization has determined that no tax provisions for uncertain tax positions are needed.”

Raw XML Appendix303 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/ActivityOrMissionDesc0PROVIDE A HIGH SCHOOL BUILDING FOR A PUBLIC CHARTER SCHOOL AND RELATED FACILITIES TO LEASE TO A NEW YORK CHARTER SCHOOL. BLCS WILL USE THE PROPERTY TO HOUSE ADMINISTRATIVE OFFICES AS WELL AS ALL CLASSROOMS AND FACILITIES NECESSARY TO EXPAND THE GRADES SERVED THROUGH THE 12TH GRADE.
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IRS990/Desc0PROVIDE A HIGH SCHOOL BUILDING AND RELATED FACILITIES TO LEASE TO A NEW YORK CHARTER SCHOOL. BLCS WILL USE THE PROPERTY TO HOUSE ADMINISTRATIVE OFFICES AS WELL AS ALL CLASSROOMS AND FACILITIES NECESSARY TO EXPAND THE GRADES SERVED THROUGH THE 12TH GRADE.
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IRS990/MaterialDiversionOrMisuseInd00
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IRS990/MissionDesc0PROVIDE A HIGH SCHOOL BUILDING AND RELATED FACILITIES TO LEASE TO A NEW YORK CHARTER SCHOOL. BLCS WILL USE THE PROPERTY TO HOUSE ADMINISTRATIVE OFFICES AS WELL AS ALL CLASSROOMS AND FACILITIES NECESSARY TO EXPAND THE GRADES SERVED THROUGH THE 12TH GRADE.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt012421143
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 DISCLOSURE - THE ORGANIZATION ADOPTED THE PROVISIONS OF FASB INTERPRETATION NO. 48 ("FIN 48"), ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - AN INTERPRETATION OF FASB STATEMENT NO. 109" NOW INCORPORATED IN ASC 740, WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISION FOR UNCERTAIN TAX PROVISIONS AND RECOGNIZING ANY INTEREST AND PENALTIES. THE ADOPTION OF FIN 48 DID NOT HAVE A MATERIAL EFFECT ON THE ORGANIZATION'S FINANCIAL POSITION AS OF JUNE 30, 2014 OR THE RESULTS OF OPERATIONS AND CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2014. AS OF JUNE 30, 2014, THE ORGANIZATION HAS DETERMINED THAT NO TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS ARE NEEDED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014653023
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING BOARD MEMBERS, KEN BLACKLOW AND JENNIFER KIM, ARE ALSO BOARD MEMBERS OF THE RELATED ORGANIZATION BRONX LIGHTHOUSE CHARTER SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BLCS PROPERTY HOLDING REQUIRES ALL BOARD MEMBERS TO FORMALLY DISCLOSE IN WRITING ANY CONFLICT OF INTEREST MATTERS. BOARD MEMBERS SUBMIT UPDATES TO THE CONFLICT OF INTEREST DECLARATION ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED BY THE CONTROLLER OF LIGHTHOUSE ACADEMIES, INC AND WITH HER APPROVAL IS FORWARDED TO THE SCHOOL'S FINANCE COMMITTEE AND IS THEN REVIEWED BY THE FULL BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR REVIEWS THE SIGNED CONFLICT OF INTEREST STATEMENTS ON AN ANNUAL BASIS OR MORE OFTEN AS DEEMED NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BLCS PROPERTY HOLDING COMPANY INC., FINANCIAL STATEMENTS WERE AUDITED BY MARKS PANETH, LLP. THE ORGANIZATION'S AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990/TotalProgramServiceRevenueAmt0705025
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0705025
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0705025
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015034180
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt014800375
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01694180
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01405532
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt013340000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt013340000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101001 INTERVALE AVE
IRS990/USAddress/City0BRONX
IRS990/USAddress/State0NY
IRS990/USAddress/ZIPCode010459
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.LIGHTHOUSE-ACADEMIES.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KEN BLACKLOW
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum06469150025
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine10BLCS PROPERTY HOLDING COMPANY INC
ReturnHeader/Filer/BusinessName/BusinessNameLine20% BRONX LIGHTHOUSE CHARTER SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0BLCS
ReturnHeader/Filer/EIN0450900484
ReturnHeader/Filer/PhoneNum06469150025
ReturnHeader/Filer/USAddress/AddressLine101001 INTERVALE AVE
ReturnHeader/Filer/USAddress/City0BRONX
ReturnHeader/Filer/USAddress/State0NY
ReturnHeader/Filer/USAddress/ZIPCode010459
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0113518842
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10MARKS PANETH LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10660 WHITE PLAINS ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0TARRYTOWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0105915104
ReturnHeader/PreparerPersonGrp/PhoneNum09145249000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TEMPESTA ANTHONY
ReturnHeader/ReturnTs02015-05-13T09:43:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,800,375
Liabilities
$13,394,843
Net assets
$1,405,532
Revenue
$705,025
Expenses
$993,673
Net income
-$288,648
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.06$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.06$0.00$0.06$0.00$0.48$0.48
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.00$0.54$0.00$0.00$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$0.00$0.54$0.70$0.27$0.44
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.4$13.3$0.10$0.66$0.99$0.33
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$13.3$0.43$0.67$1.00$0.33
2016Detailed filing. Detailed filing data is available for this year.$14.1$13.3$0.75$0.66$0.99$0.33
2015Detailed filing. Detailed filing data is available for this year.$14.5$13.4$1.09$0.67$0.99$0.32
2014Detailed filing. Detailed filing data is available for this year.$14.8$13.4$1.41$0.71$0.99$0.29
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.0$13.3$1.69$0.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.2$14.4$1.79$0.02
2011Summary only. Only limited summary data is available for this year.$15.4$13.9$1.52$1.61$0.09$1.52