Civic Intelligence

Voras Enterprise Inc

990 • Fiscal year 2019 • EIN 46-1127108

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 15, 2020

Organization ProfileN/A
132 Ralph AvenueBrooklyn, NY 11233

(718) 453-9490

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2019

Liabilities / Revenue

13th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Net Margin

94th percentile

69%

Higher net margin than 94% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

87th percentile

$297,231

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

1957%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $6,604,659 (-100%) from 2018

Net Assets

Up

$0

Up $150,235 (+100%) from 2018

Liabilities

Down

$0

Down $6,754,894 (-100%) from 2018

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin94th percentile

Revenue

Up

$7,422,038

Up $7,061,307 (+1957%) from 2018

Expenses

Up

$2,323,912

Up $2,024,847 (+677%) from 2018

Net Income

Up

$5,098,126

Up $5,036,460 (+8167%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$10M$5.0M$0-$5.0MAssets 2012: $3,442,125Liabilities 2012: $3,437,233Net Assets 2012: $4,8922012Assets 2013: $3,520,165Liabilities 2013: $3,667,182Net Assets 2013: -$147,0172013Assets 2015: $6,748,999Liabilities 2015: $6,686,930Net Assets 2015: $62,0692015Assets 2016: $6,811,629Liabilities 2016: $6,886,043Net Assets 2016: -$74,4142016Assets 2017: $8,032,599Liabilities 2017: $8,242,159Net Assets 2017: -$209,5602017Assets 2018: $6,604,659Liabilities 2018: $6,754,894Net Assets 2018: -$150,2352018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2019

Assets$0
Liabilities$0
Net Assets$0
Open 2019 Filing

Operations Trend

Revenue Growth99th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $4,4162012Revenue 2013: $276,367Expenses 2013: $421,254Net Income 2013: -$144,8872013Revenue 2015: $200,147Expenses 2015: $434,311Net Income 2015: -$234,1642015Revenue 2016: $308,269Expenses 2016: $444,752Net Income 2016: -$136,4832016Revenue 2017: $400,189Expenses 2017: $519,155Net Income 2017: -$118,9662017Revenue 2018: $360,731Expenses 2018: $299,065Net Income 2018: $61,6662018Revenue 2019: $7,422,038Expenses 2019: $2,323,912Net Income 2019: $5,098,1262019

Highlighted filing

2019

Revenue$7,422,038
Expenses$2,323,912
Net Income$5,098,126
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 15, 2020
Return Version
2019v5.1
Gross Receipts
$7,422,038
Mission and Program Overview

Mission

To provide community development services within the bedford stuyvesant area of brooklyn.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,713,400--
Cash and Non-Interest-Bearing Accounts$92,128--
Accounts Receivable$72,682--
Total Assets$6,604,659$0▼ $6,604,659
Other Assets Total$1,726,449--
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,155,841--
Accounts Payable and Accrued Expenses$2,056,434--
Other Liabilities$542,619--
Total Liabilities$6,754,894$0▼ $6,754,894
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-150,235--
Total Net Assets Fund Balance$-150,235$0▲ $150,235
Total Liabilities and Net Assets / Fund Balance$6,604,659$0▼ $6,604,659
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

NameTitle
Jeffery E DunstonChairperson
Nathan MontgomeryBoard Member - Secretary
Elliot RobinsonBoard Member - Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$202,376
Investment Income
$0
Other Revenue
$7,219,662
Change in Net Assets
$5,098,126
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,901,349
Grants and Similar Amounts Paid$422,563
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$1,533,180-$1,533,180
Grants to Domestic Orgs$422,563--$422,563
Other Expenses$148,053--$148,053
Interest-$107,948-$107,948
Office Expenses$5$55,105-$55,110
Occupancy$38,550--$38,550
Fees for Services Legal-$8,144-$8,144
Insurance$7,389--$7,389
Fees for Services Accounting-$1,960-$1,960
Travel$1,015--$1,015
Total Functional Expenses$617,575$1,706,337$0$2,323,912
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Northeast Brooklyn Housing Devel CoBrooklyn, NY--$150,000
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
Backup withholding compliance
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
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 governing body review Part VI line 11

“The board reviews the form 990 prior to it being filed.”

Conflict of interest policy compliance Part VI line 12C

“The conflict of interest policy is enforced by management.”

Governing documents etc available to public Part VI line 19

“Managememt makes its governing documents and form 990 available upon request.”

Filing and Contact Details

Filer

Filer Name
Voras Enterprise Inc
EIN
46-1127108
Address
132 RALPH AVENUE, Brooklyn, NY 11233

Signing Officer

Name
Christie Alcid
Title
CFO
Phone
7184539490
Signed
2020-07-15
Discuss with paid preparer
No

Organization Details

Formed
2012
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
1
Employees
0

Preparer

Firm
Ivan W Harper CPA
Address
1322 CARROLL STREET, Brooklyn, NY 11213
Preparer
Ivan W Harper
Phone
7184673296
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Other represents a prior period adjustment to increase the prior year mortgage payable amount to that established by bankruptcy results - $4,504,495 and the reclass of $443,397 of northeast brooklyn housing development corp contributed equity repaid to that corporation.”

List of other fees for services expenses Part IX line 11G

“Tases charged by the IRS at closing on sale of building - $17,677Closing cost related to the sale of building owned by the corporation - $1,385,488Bankrutpcy trustee fees paid during the year. $126,805”

Raw XML Appendix340 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS THE FORM 990 PRIOR TO IT BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS ENFORCED BY MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMEMT MAKES ITS GOVERNING DOCUMENTS AND FORM 990 AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER REPRESENTS A PRIOR PERIOD ADJUSTMENT TO INCREASE THE PRIOR YEAR MORTGAGE PAYABLE AMOUNT TO THAT ESTABLISHED BY BANKRUPTCY RESULTS - $4,504,495 AND THE RECLASS OF $443,397 OF NORTHEAST BROOKLYN HOUSING DEVELOPMENT CORP CONTRIBUTED EQUITY REPAID TO THAT CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Tases charged by the IRS at closing on sale of building - $17,677Closing cost related to the sale of building owned by the corporation - $1,385,488Bankrutpcy trustee fees paid during the year. $126,805
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other fees for services expenses Part IX line 11g
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07422038
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06604659
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt0472231
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt01015
IRS990/TravelGrp/TotalAmt01015
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
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ReturnHeader/BuildTS02022-01-07 14:23:13Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0CHRISTIE ALCID
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum07184539490
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VORAS ENTERPRISE INC
ReturnHeader/Filer/BusinessNameControlTxt0VORA
ReturnHeader/Filer/EIN0461127108
ReturnHeader/Filer/USAddress/AddressLine1Txt0132 RALPH AVENUE
ReturnHeader/Filer/USAddress/CityNm0Brooklyn
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011233
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ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId0118062202032321edeei
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02020-11-18
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0162.83.184.131
ReturnHeader/FilingSecurityInformation/IPDt02020-11-18
ReturnHeader/FilingSecurityInformation/IPTm020:10:02
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472759008
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0IVAN W HARPER CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01322 CARROLL STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Brooklyn
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011213
ReturnHeader/PreparerPersonGrp/PhoneNum07184673296
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IVAN W HARPER
ReturnHeader/ReturnTs02020-11-18T19:31:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$7,422,038
Expenses
$2,323,912
Net income
$5,098,126
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$7.42$2.32$5.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.60$6.75$0.15$0.36$0.30$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.03$8.24$0.21$0.40$0.52$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.81$6.89$0.07$0.31$0.44$0.14
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.75$6.69$0.06$0.20$0.43$0.23
2013Detailed filing. Detailed filing data is available for this year.$3.52$3.67$0.15$0.28$0.42$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.44$3.44$0.00$0.00