Civic Intelligence

Burlington Homes Inc.

990 • Fiscal year 2015 • EIN 46-2518059

Oct 01, 2014 to Sep 30, 2015 • Filed on May 08, 2016

Organization ProfileN/A
133 N Ireland StreetBurlington, NC 27217

(336) 226-8421

Siviq Scores

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

Liabilities / Assets

51st percentile

0.77x

Higher debt load relative to assets than 51% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

77th percentile

9.52x

Higher debt load relative to revenue than 77% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Source year 2015

Net Margin

23rd percentile

-31%

Higher net margin than 23% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2015 filings • NTEE L • $5M-$10M nonprofits • Source year 2015

Asset Growth

91st percentile

48%

Faster asset growth than 91% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

3rd percentile

-76%

Faster revenue growth than 3% of similar nonprofits.

2015 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$7,180,486

Up $2,315,493 (+48%) from 2014

Net Assets

Down

$1,617,632

Down $180,136 (-10%) from 2014

Liabilities

Up

$5,562,854

Up $2,495,629 (+81%) from 2014

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin23rd percentile

Revenue

Down

$584,527

Down $1,815,125 (-76%) from 2014

Expenses

Up

$764,663

Up $162,779 (+27%) from 2014

Net Income

Down

-$180,136

Down $1,977,904 (-110%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $1Liabilities 2013: $02013Assets 2014: $4,864,993Liabilities 2014: $3,067,225Net Assets 2014: $1,797,7682014Assets 2015: $7,180,486Liabilities 2015: $5,562,854Net Assets 2015: $1,617,6322015Assets 2016: $6,985,972Liabilities 2016: $5,682,610Net Assets 2016: $1,303,3622016Assets 2017: $6,584,661Liabilities 2017: $5,510,875Net Assets 2017: $1,073,7862017Assets 2018: $6,306,000Liabilities 2018: $5,427,768Net Assets 2018: $878,2322018Assets 2019: $6,090,764Liabilities 2019: $5,380,510Net Assets 2019: $710,2542019Assets 2020: $5,969,307Liabilities 2020: $5,573,646Net Assets 2020: $395,6612020Assets 2021: $5,979,388Liabilities 2021: $5,497,363Net Assets 2021: $482,0252021Assets 2022: $5,958,599Liabilities 2022: $5,415,102Net Assets 2022: $543,4972022Assets 2023: $5,904,095Liabilities 2023: $5,323,082Net Assets 2023: $581,0132023Assets 2024: $5,890,578Liabilities 2024: $5,262,751Net Assets 2024: $627,8272024

Highlighted filing

2015

Assets$7,180,486
Liabilities$5,562,854
Net Assets$1,617,632
Open 2015 Filing

Operations Trend

Revenue Growth3rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $2,399,652Expenses 2014: $601,884Net Income 2014: $1,797,7682014Revenue 2015: $584,527Expenses 2015: $764,663Net Income 2015: -$180,1362015Revenue 2016: $709,971Expenses 2016: $1,024,241Net Income 2016: -$314,2702016Revenue 2017: $867,691Expenses 2017: $1,097,267Net Income 2017: -$229,5762017Revenue 2018: $822,436Expenses 2018: $1,019,498Net Income 2018: -$197,0622018Revenue 2019: $830,371Expenses 2019: $998,349Net Income 2019: -$167,9782019Revenue 2020: $844,783Expenses 2020: $1,159,376Net Income 2020: -$314,5932020Revenue 2021: $883,707Expenses 2021: $797,343Net Income 2021: $86,3642021Revenue 2022: $904,169Expenses 2022: $842,697Net Income 2022: $61,4722022Revenue 2023: $902,516Expenses 2023: $865,000Net Income 2023: $37,5162023Revenue 2024: $1,100,352Expenses 2024: $1,053,538Net Income 2024: $46,8142024

Highlighted filing

2015

Revenue$584,527
Expenses$764,663
Net Income-$180,136
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
May 8, 2016
Return Version
2014v6.0
Gross Receipts
$584,527
Mission and Program Overview

Mission

To provide affordable housing for low and very low income elderly and disabled persons in a 100 unit apartment complex located in Burlington, NC.

To provide housing for low and very-low income elderly and disabled persons in a 100 unit apartment complex located in Burlington, NC

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,115,505$6,443,458▲ $2,327,953
Cash and Non-Interest-Bearing Accounts$713,437$702,092▼ $11,345
Accounts Receivable$3,773$22,019▲ $18,246
Prepaid Expenses and Deferred Charges$30,517$10,936▼ $19,581
Inventories for Sale or Use$1,761$1,981▲ $220
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$4,864,993$7,180,486▲ $2,315,493
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,380,231$5,130,312▲ $2,750,081
Accounts Payable and Accrued Expenses$686,994$432,542▼ $254,452
Total Liabilities$3,067,225$5,562,854▲ $2,495,629
Net Assets / Fund Balance
Unrestricted Net Assets$1,797,768$1,617,632▼ $180,136
Total Net Assets Fund Balance$1,797,768$1,617,632▼ $180,136
Total Liabilities and Net Assets / Fund Balance$4,864,993$7,180,486▲ $2,315,493

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,110,960$2,898,768$9,009,728
Equipment$133,606-$133,606
Other Land Buildings$113,292-$113,292
Land$85,600-$85,600
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Julian DobyChairman
Diane DavisVice Chairman
Veronica RevelsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$273,125
Program Service Revenue
$311,390
Investment Income
$12
Other Revenue
$0
Change in Net Assets
$-180,136
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$764,663
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$140,283--$140,283
Other Expenses$59,436--$59,436
Interest$45,485--$45,485
Insurance$43,818--$43,818
All Other Expenses$31,959--$31,959
Total Functional Expenses$764,663$0$0$764,663
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Reviewed with the Corporate Secretary before Form 990 is finalized”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“All documents not restricted by Federal or North Carolina privacy act requirements are available upon written request to the Executive Director.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“All documents not restricted by Federal or North Carolina privacy act requirements are available upon written request to the Executive Director.”

Filing and Contact Details

Filer

Filer Name
Burlington Homes Inc
EIN
46-2518059
Phone
3362268421
Address
133 N Ireland Street, Burlington, NC 27217

Signing Officer

Name
Veronica Revels
Title
Secretary
Signed
2016-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Veronica Revels
Formed
2013
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
James E Kinkead PC
Address
3973 Atlanta Highway Suite 800, Loganville, GA 30052
Preparer
James E Kinkead CPA
Phone
7704667070
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Reviewed with the Corporate Secretary before Form 990 is finalized
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All documents not restricted by Federal or North Carolina privacy act requirements are available upon written request to the Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All documents not restricted by Federal or North Carolina privacy act requirements are available upon written request to the Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04864993
IRS990/TotalAssetsEOYAmt07180486
IRS990/TotalAssetsGrp/BOYAmt04864993
IRS990/TotalAssetsGrp/EOYAmt07180486
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0273125
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0764663
IRS990/TotalFunctionalExpensesGrp/TotalAmt0764663
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03067225
IRS990/TotalLiabilitiesEOYAmt05562854
IRS990/TotalLiabilitiesGrp/BOYAmt03067225
IRS990/TotalLiabilitiesGrp/EOYAmt05562854
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01797768
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01617632
IRS990/TotalProgramServiceExpensesAmt0764663
IRS990/TotalProgramServiceRevenueAmt0311390
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0311402
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0584527
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04864993
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07180486
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01797768
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01617632
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0133 N Ireland St
IRS990/USAddress/CityNm0Burlington
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027216
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Veronica Revels
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Burlington Homes Inc
ReturnHeader/Filer/BusinessNameControlTxt0BURL
ReturnHeader/Filer/EIN0462518059
ReturnHeader/Filer/PhoneNum03362268421
ReturnHeader/Filer/USAddress/AddressLine1Txt0133 N Ireland Street
ReturnHeader/Filer/USAddress/CityNm0Burlington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027217
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0James E Kinkead PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03973 Atlanta Highway Suite 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Loganville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030052
ReturnHeader/PreparerPersonGrp/PhoneNum07704667070
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0James E Kinkead CPA
ReturnHeader/ReturnTs02016-05-08T07:19:19-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-10-01
ReturnHeader/TaxPeriodEndDt02015-09-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,180,486
Liabilities
$5,562,854
Net assets
$1,617,632
Revenue
$584,527
Expenses
$764,663
Net income
-$180,136
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.89$5.26$0.63$1.10$1.05$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.90$5.32$0.58$0.90$0.87$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.96$5.42$0.54$0.90$0.84$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.98$5.50$0.48$0.88$0.80$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.97$5.57$0.40$0.84$1.16$0.31
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.09$5.38$0.71$0.83$1.00$0.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.31$5.43$0.88$0.82$1.02$0.20
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.58$5.51$1.07$0.87$1.10$0.23
2016Detailed filing. Detailed filing data is available for this year.$6.99$5.68$1.30$0.71$1.02$0.31
2015Detailed filing. Detailed filing data is available for this year.$7.18$5.56$1.62$0.58$0.76$0.18
2014Detailed filing. Detailed filing data is available for this year.$4.86$3.07$1.80$2.40$0.60$1.80
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00