Civic Intelligence

Restoring Communities Housing Development Fund Corporation

990 • Fiscal year 2018 • EIN 45-4252738

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 12, 2019

Organization ProfileWWW.NEIGHBORHOODRESTORE.ORG
150 Broadway Suite 2101New York, NY 10038

(212) 584-8981

Siviq Scores

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

Liabilities / Assets

56th percentile

0.73x

Higher debt load relative to assets than 56% of similar nonprofits.

2018 filings • NTEE L • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

41st percentile

0.35x

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

2018 filings • NTEE L • $500k-$1M nonprofits • Source year 2018

Net Margin

88th percentile

40%

Higher net margin than 88% of similar nonprofits.

2018 filings • NTEE L • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

87th percentile

$234,774

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 36.6% of source-year revenue.

2018 filings • NTEE L • $500k-$1M nonprofits • Source year 2018

Asset Growth

99th percentile

254%

Faster asset growth than 99% of similar nonprofits.

2018 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

100th percentile

128300%

Faster revenue growth than 100% of similar nonprofits.

2018 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$310,222

Up $222,568 (+254%) from 2017

Net Assets

Up

$84,646

Up $255,730 (+149%) from 2017

Liabilities

Down

$225,576

Down $33,162 (-13%) from 2017

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin88th percentile

Revenue

Up

$642,000

Up $641,500 (+128300%) from 2017

Expenses

Up

$386,270

Up $300,017 (+348%) from 2017

Net Income

Up

$255,730

Up $341,483 (+398%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2013: $47,514Liabilities 2013: $104,213Net Assets 2013: -$56,6992013Assets 2014: $47,514Liabilities 2014: $106,735Net Assets 2014: -$59,2212014Assets 2015: $94,404Liabilities 2015: $115,673Net Assets 2015: -$21,2692015Assets 2016: $91,954Liabilities 2016: $177,2852016Assets 2017: $87,654Liabilities 2017: $258,738Net Assets 2017: -$171,0842017Assets 2018: $310,222Liabilities 2018: $225,576Net Assets 2018: $84,6462018Assets 2019: $531,070Liabilities 2019: $10,762Net Assets 2019: $520,3082019Assets 2020: $674,280Liabilities 2020: $31,798Net Assets 2020: $642,4822020Assets 2021: $870,836Liabilities 2021: $67,197Net Assets 2021: $803,6392021Assets 2022: $1,086,277Liabilities 2022: $55,363Net Assets 2022: $1,030,9142022Assets 2023: $852,435Liabilities 2023: $63,080Net Assets 2023: $789,3552023Assets 2024: $1,085,660Liabilities 2024: $110,932Net Assets 2024: $974,7282024

Highlighted filing

2018

Assets$310,222
Liabilities$225,576
Net Assets$84,646
Open 2018 Filing

Operations Trend

Revenue Growth100th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $47,514Expenses 2013: $20,353Net Income 2013: $27,1612013Expenses 2014: $2,5222014Revenue 2015: $82,500Expenses 2015: $44,548Net Income 2015: $37,9522015Revenue 2016: $0Expenses 2016: $64,062Net Income 2016: -$64,0622016Revenue 2017: $500Expenses 2017: $86,253Net Income 2017: -$85,7532017Revenue 2018: $642,000Expenses 2018: $386,270Net Income 2018: $255,7302018Revenue 2019: $549,500Expenses 2019: $113,838Net Income 2019: $435,6622019Revenue 2020: $248,500Expenses 2020: $126,326Net Income 2020: $122,1742020Revenue 2021: $323,336Expenses 2021: $162,179Net Income 2021: $161,1572021Revenue 2022: $2,883,500Expenses 2022: $2,656,225Net Income 2022: $227,2752022Revenue 2023: $682,500Expenses 2023: $924,059Net Income 2023: -$241,5592023Revenue 2024: $533,000Expenses 2024: $347,627Net Income 2024: $185,3732024

Highlighted filing

2018

Revenue$642,000
Expenses$386,270
Net Income$255,730
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 12, 2019
Return Version
2018v3.1
Gross Receipts
$642,000
Mission and Program Overview

Mission

The corporation is organized exclusively for the purpose of perserving and creating, on a non-profit basis, housing projects for persons of low and moderate income. In addition to promoting affordable housing opportunities, it seeks to prevent and eliminate blight and foster the stablization of communities throughout nyc.

The corporation is organized exclusively for the purpose of perserving and creating, on a non-profit basis, housing projects for persons of low and moderate income. In addition to promoting affordable housing opportunities, it seeks to prevent and eliminate blight and foster the stablization of communities throughout new york city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$87,654$310,222▲ $222,568
Total Assets$87,654$310,222▲ $222,568
Liabilities
Other Liabilities$258,738$222,576▼ $36,162
Accounts Payable and Accrued Expenses-$3,000-
Total Liabilities$258,738$225,576▼ $33,162
Net Assets / Fund Balance
Unrestricted Net Assets$-171,084$84,646▲ $255,730
Total Net Assets Fund Balance$-171,084$84,646▲ $255,730
Total Liabilities and Net Assets / Fund Balance$87,654$310,222▲ $222,568
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleBaseOtherTotal
MR SALVATORE D'AVOLAAssistant Se$10,765$224,009$234,774
MR SALVATORE D'AVOLAAssistant Secretary$10,765$974$11,739

Board Members and Trustees

NameTitle
Mr Harold ShultzPresident
Ms Lisa TalmaDirector
Mr Richard PinnerAssistant Se
Ms Lydia TomSecretary
Mr Sam MarksTreasurer
Ms Merilyn RoviraVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$313,000
Program Service Revenue
$329,000
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$255,730

Audited Revenue Reconciliation

Revenue per Audited Statements
$642,000
Total Revenue per Audited Statements
$642,000
Total Revenue per Form 990
$642,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$319,943
Salaries, Compensation, and Employee Benefits$66,327
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$288,000--$288,000
Other Salaries and Wages$38,244$4,828-$43,072
Occupancy$8,271$2,606-$10,877
Current Officers, Directors, Trustees, and Key Employees$2,691$8,074-$10,765
Fees for Services Legal-$10,667-$10,667
Other Employee Benefits$6,835$1,643-$8,478
Payroll Taxes$3,199$813-$4,012
Office Expenses$2,920$920-$3,840
Insurance$2,706$853-$3,559
Fees for Services Accounting-$3,000-$3,000
Total Functional Expenses$352,866$33,404$0$386,270

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$386,270
Total Expenses per Audited Statements$386,270
Total Expenses per Form 990$386,270
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 Neighborhood Restore$222,576
Governance and Compliance

Governance Checklist

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

“Copy of form 990 is provided to the board before filing.”

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

“Yes, by following procedures outlined in policy statement.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Restoring Communities Housing
EIN
45-4252738
Phone
2125848981
Address
150 BROADWAY SUITE 2101, NEW YORK, NY 10038

Signing Officer

Name
MR SALVATORE D'AVOLA
Title
Assistant Secretary
Phone
2125848981
Signed
2019-07-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
MR SALVATORE D'AVOLA
Formed
2012
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
VARGAS & RIVERA CPA'S LLP
Address
586 ROUTE 304, NEW CITY, NY 10956
Preparer
Theodore Vargas
Phone
8456383113
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The corporation is organized exclusively for the purpose of perserving and creating, on a non-profit basis, housing projects for persons of low and moderate income. In addition to promoting affordable housing opportunities, it seeks to prevent and eliminate blight and foster the stablization of communities throughout new york city.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PERSERVING AND CREATING, ON A NON-PROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. IN ADDITION TO PROMOTING AFFORDABLE HOUSING OPPORTUNITIES, IT SEEKS TO PREVENT AND ELIMINATE BLIGHT AND FOSTER THE STABLIZATION OF COMMUNITIES THROUGHOUT NEW YORK CITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPY OF FORM 990 IS PROVIDED TO THE BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2YES, BY FOLLOWING PROCEDURES OUTLINED IN POLICY STATEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalOtherCompensationAmt019474
IRS990/TotalProgramServiceExpensesAmt0352866
IRS990/TotalProgramServiceRevenueAmt0329000
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0MR SALVATORE D'AVOLA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0ASSISTANT SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum02125848981
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-07-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RESTORING COMMUNITIES HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT FUND CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0REST
ReturnHeader/Filer/EIN0454252738
ReturnHeader/Filer/PhoneNum02125848981
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId05E24AB8DACDC1166EC41F1962009D390CB999E02
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId05E24AB8DACDC1166EC41F1962009D390CB999E02
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.77.54.126
ReturnHeader/FilingSecurityInformation/IPDt02019-07-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:28:40
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133747593
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VARGAS & RIVERA CPA'S LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0586 ROUTE 304
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010956
ReturnHeader/PreparerPersonGrp/PhoneNum08456383113
ReturnHeader/PreparerPersonGrp/PreparationDt02019-07-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THEODORE VARGAS
ReturnHeader/ReturnTs02019-07-12T10:28:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$310,222
Liabilities
$225,576
Net assets
$84,646
Revenue
$642,000
Expenses
$386,270
Net income
$255,730
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.09$0.11$0.97$0.53$0.35$0.19
2023Detailed filing. Detailed filing data is available for this year.$0.85$0.06$0.79$0.68$0.92$0.24
2022Detailed filing. Detailed filing data is available for this year.$1.09$0.06$1.03$2.88$2.66$0.23
2021Detailed filing. Detailed filing data is available for this year.$0.87$0.07$0.80$0.32$0.16$0.16
2020Detailed filing. Detailed filing data is available for this year.$0.67$0.03$0.64$0.25$0.13$0.12
2019Detailed filing. Detailed filing data is available for this year.$0.53$0.01$0.52$0.55$0.11$0.44
2018Detailed filing. Detailed filing data is available for this year.$0.31$0.23$0.08$0.64$0.39$0.26
2017Detailed filing. Detailed filing data is available for this year.$0.09$0.26$0.17$0.00$0.09$0.09
2016Summary only. Only limited summary data is available for this year.$0.09$0.18$0.00$0.06$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.09$0.12$0.02$0.08$0.04$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.05$0.11$0.06$0.00
2013Summary only. Only limited summary data is available for this year.$0.05$0.10$0.06$0.05$0.02$0.03