Civic Intelligence

Sourlis-Eleuterio Homes Inc

EIN 45-4234959 • 501(c)3 • Frederick, MD

Profile

To provide affordable housing to the chronically mentally disabled under section 811 of the national affordable housing act.

PO Box 3734Frederick, MD 21705

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.82x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

19.00x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

7th percentile

-49%

Higher net margin than 7% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

99th percentile

$719,763

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 1062.6% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

31st percentile

-2.6%

Faster asset growth than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

40th percentile

1.7%

Faster revenue growth than 40% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,566,316

Down $41,068 (-2.6%) from 2023

Liabilities

Down

$1,287,209

Down $7,592 (-0.6%) from 2023

Net Assets

Down

$279,107

Down $33,476 (-11%) from 2023

Revenue

Up

$67,739

Up $1,143 (+1.7%) from 2023

Expenses

Down

$101,215

Down $7,660 (-7.0%) from 2023

Net Income

Up

-$33,476

Up $8,803 (+21%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2014: $1,808,151Liabilities 2014: $1,247,051Net Assets 2014: $561,1002014Assets 2015: $1,923,972Liabilities 2015: $1,387,519Net Assets 2015: $536,4532015Assets 2016: $1,843,113Liabilities 2016: $1,339,200Net Assets 2016: $503,9132016Assets 2017: $1,812,403Liabilities 2017: $1,274,869Net Assets 2017: $537,5342017Assets 2018: $1,777,647Liabilities 2018: $1,272,879Net Assets 2018: $504,7682018Assets 2019: $1,737,092Liabilities 2019: $1,271,157Net Assets 2019: $465,9352019Assets 2020: $1,706,090Liabilities 2020: $1,275,904Net Assets 2020: $430,1862020Assets 2021: $1,669,303Liabilities 2021: $1,278,477Net Assets 2021: $390,8262021Assets 2022: $1,632,924Liabilities 2022: $1,278,062Net Assets 2022: $354,8622022Assets 2023: $1,607,384Liabilities 2023: $1,294,801Net Assets 2023: $312,5832023Assets 2024: $1,566,316Liabilities 2024: $1,287,209Net Assets 2024: $279,1072024

Highlighted filing

2024

Assets$1,566,316
Liabilities$1,287,209
Net Assets$279,107

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150K$100K$50K$0-$50KRevenue 2014: $25Expenses 2014: $495Net Income 2014: -$4702014Revenue 2015: $50,605Expenses 2015: $75,252Net Income 2015: -$24,6472015Revenue 2016: $55,643Expenses 2016: $88,183Net Income 2016: -$32,5402016Revenue 2017: $123,726Expenses 2017: $90,105Net Income 2017: $33,6212017Revenue 2018: $56,397Expenses 2018: $89,163Net Income 2018: -$32,7662018Revenue 2019: $56,897Expenses 2019: $95,730Net Income 2019: -$38,8332019Revenue 2020: $62,658Expenses 2020: $98,407Net Income 2020: -$35,7492020Revenue 2021: $61,346Expenses 2021: $100,706Net Income 2021: -$39,3602021Revenue 2022: $66,801Expenses 2022: $102,765Net Income 2022: -$35,9642022Revenue 2023: $66,596Expenses 2023: $108,875Net Income 2023: -$42,2792023Revenue 2024: $67,739Expenses 2024: $101,215Net Income 2024: -$33,4762024

Highlighted filing

2024

Revenue$67,739
Expenses$101,215
Net Income-$33,476

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$61,346
Mission and Program Overview

Mission

To provide affordable housing to the chronicallly mentally disabled under section 811 of the national affordable housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,627,232$1,588,350▼ $38,882
Cash and Non-Interest-Bearing Accounts$5,746$2,882▼ $2,864
Accounts Receivable$801$1,272▲ $471
Total Assets$1,706,090$1,669,303▼ $36,787
Other Assets Total$72,311$76,799▲ $4,488
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,225,671$1,225,671→ $0
Other Liabilities$38,421$38,389▼ $32
Accounts Payable and Accrued Expenses$11,812$14,417▲ $2,605
Total Liabilities$1,275,904$1,278,477▲ $2,573
Net Assets / Fund Balance
Net Assets With Donor Restrictions$631,020$631,020→ $0
Net Assets Without Donor Restrictions$-200,834$-240,194▼ $39,360
Total Net Assets Fund Balance$430,186$390,826▼ $39,360
Total Liabilities and Net Assets / Fund Balance$1,706,090$1,669,303▼ $36,787

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,286,487$268,806$1,555,293
Land$301,863-$301,863
Compensation and Service Providers

Board Members and Trustees

NameTitle
Sarah NormanPresident
Claire Dennis - TupakDirector
Robert HallDirector
David WeissSecretary
Jeff RichardsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$61,338
Investment Income
$8
Other Revenue
$0
Change in Net Assets
$-39,360

Audited Revenue Reconciliation

Revenue per Audited Statements
$61,346
Total Revenue per Audited Statements
$61,346
Total Revenue per Form 990
$61,346
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$100,706
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$38,882--$38,882
Occupancy$14,455--$14,455
Fees for Services Accounting-$6,500-$6,500
All Other Expenses$4,274--$4,274
Fees for Services Management-$3,744-$3,744
Other Expenses$3,417--$3,417
Insurance$2,756--$2,756
Office Expenses-$38-$38
Total Functional Expenses$90,424$10,282$0$100,706

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$100,706
Total Expenses per Audited Statements$100,706
Total Expenses per Form 990$100,706
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Sponsor$36,749
Security Deposits$1,640
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Property management activities are performed by the related sponsoring organization, way station inc., pursuant to a contract apporved by hud. Way station, inc. Is a tax- exempt organization under section 501(c)(3) of the internal revenue code. The fee is capped at 39.00 per unit per month and the amount charged to operations for 2021 and 2020 was 3,744. As reported on form 990, part vii, section a, the following individuals received compensation from a related organization : name: reportable compensation: other compensation: sarah norman 183,277 8,487 jeff richardson 402,945 33,686

Form 990, Page 6, Part VI, Line 8B

The board acted as a whole on all matters and no committee was appointed during the fiscal year.

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

The board is provided with a complete copy of the return prior to filing. No further revieiw is conducted.

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

The organization employs the conflict of interest, whistleblower and document retention and destruction policies of its related management agent, way station, inc.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents and financial statements available to the public upon request. Additionally, the financials are filed with the omb under the uniform guidance.

Filing and Contact Details

Filer

Filer Name
Sourlis Eleuterio Homes Inc
EIN
45-4234959
Phone
3016620099
Address
PO BOX 3734, FREDERICK, MD 21705

Signing Officer

Name
Sarah Norman
Title
President
Phone
3016620099
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Norman
Formed
2011
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Deleon & Stang Cpas and Advisors
Address
100 LAKEFOREST BLVD STE 650, GAITHERSBURG, MD 20877-2609
Preparer
Clint Lehman CPA
Phone
3019489825
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 2C

The full board assumes responsability for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.

Financial Statement Notes

Schedule D, Page 3, Part X

The entity recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Management has determined that the entity had no uncertain tax positions that would require financial statement recognition or disclosure. The entity is no longer subject to examinations by the applicable taxing jurisdictions for periods prior to june 30, 2018.

Raw XML AppendixShowing 400 of 671 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/OtherLiabilitiesOrgGrp/Amt11640
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO SPONSOR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt061346
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENTITY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ENTITY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ENTITY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JUNE 30, 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0100706
IRS990ScheduleD/TotalLiabilityAmt038389
IRS990ScheduleD/TotalRevenuePerForm990Amt061346
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt061346
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0183277
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1398425
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt015072
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt04520
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SARAH NORMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JEFF RICHARDSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0191764
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROPERTY MANAGEMENT ACTIVITIES ARE PERFORMED BY THE RELATED SPONSORING ORGANIZATION, WAY STATION INC., PURSUANT TO A CONTRACT APPORVED BY HUD. WAY STATION, INC. IS A TAX- EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FEE IS CAPPED AT 39.00 PER UNIT PER MONTH AND THE AMOUNT CHARGED TO OPERATIONS FOR 2021 AND 2020 WAS 3,744. AS REPORTED ON FORM 990, PART VII, SECTION A, THE FOLLOWING INDIVIDUALS RECEIVED COMPENSATION FROM A RELATED ORGANIZATION : NAME: REPORTABLE COMPENSATION: OTHER COMPENSATION: SARAH NORMAN 183,277 8,487 JEFF RICHARDSON 402,945 33,686
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD ACTED AS A WHOLE ON ALL MATTERS AND NO COMMITTEE WAS APPOINTED DURING THE FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD IS PROVIDED WITH A COMPLETE COPY OF THE RETURN PRIOR TO FILING. NO FURTHER REVIEIW IS CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION EMPLOYS THE CONFLICT OF INTEREST, WHISTLEBLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES OF ITS RELATED MANAGEMENT AGENT, WAY STATION, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, THE FINANCIALS ARE FILED WITH THE OMB UNDER THE UNIFORM GUIDANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FULL BOARD ASSUMES RESPONSABILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 12, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1SHEPPARD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2WAY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt17WAY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt20WAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt21WAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SHEPPARD AND ENOCH PRATT FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1WAY STATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2WAY STATION FOUNDATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3AUTUMN PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4WINTER PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5BEAM HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6SPRING PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt7WALDEN PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt8GEORGETOWN APTS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt9IRISH MEADOWS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt10OLDETOWNE HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt11POTOMAC RIVER HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt12FLOYD KRESS HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt13WETZEL HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt14FLURY PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt15HINZE HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt16O'CONOR HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt17OTTEY HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt18KIRKLAND HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt19MAHER HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt20WOOLARD HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt21BETTY JANE MALONE HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0521357109
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1521162749
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2521857765
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