Civic Intelligence

Burlington Homes Inc.

990 • Fiscal year 2017 • EIN 46-2518059

Oct 01, 2016 to Sep 30, 2017 • Filed on Aug 01, 2018

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

56th percentile

0.84x

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

2017 filings • NTEE L • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

69th percentile

6.35x

Higher debt load relative to revenue than 69% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Source year 2017

Net Margin

23rd percentile

-26%

Higher net margin than 23% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2017 filings • NTEE L • $5M-$10M nonprofits • Source year 2017

Asset Growth

14th percentile

-5.7%

Faster asset growth than 14% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

90th percentile

22%

Faster revenue growth than 90% of similar nonprofits.

2017 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$6,584,661

Down $401,311 (-5.7%) from 2016

Net Assets

Down

$1,073,786

Down $229,576 (-18%) from 2016

Liabilities

Down

$5,510,875

Down $171,735 (-3.0%) from 2016

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin23rd percentile

Revenue

Up

$867,691

Up $157,720 (+22%) from 2016

Expenses

Up

$1,097,267

Up $73,026 (+7.1%) from 2016

Net Income

Up

-$229,576

Up $84,694 (+27%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2017

Assets$6,584,661
Liabilities$5,510,875
Net Assets$1,073,786
Open 2017 Filing

Operations Trend

Revenue Growth90th 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

2017

Revenue$867,691
Expenses$1,097,267
Net Income-$229,576
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Aug 1, 2018
Return Version
2016v3.0
Gross Receipts
$867,691
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$6,193,867$5,801,630▼ $392,237
Cash and Non-Interest-Bearing Accounts$756,382$328,975▼ $427,407
Accounts Receivable$8,588$44,660▲ $36,072
Prepaid Expenses and Deferred Charges$25,911$25,485▼ $426
Inventories for Sale or Use$1,224$931▼ $293
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$6,985,972$6,584,661▼ $401,311
Other Assets Total-$382,980-
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,442,936$5,398,674▼ $44,262
Other Liabilities-$79,919-
Accounts Payable and Accrued Expenses$239,674$32,282▼ $207,392
Total Liabilities$5,682,610$5,510,875▼ $171,735
Net Assets / Fund Balance
Unrestricted Net Assets$1,303,362$690,806▼ $612,556
Temporarily Rstr Net Assets-$382,980-
Total Net Assets Fund Balance$1,303,362$1,073,786▼ $229,576
Total Liabilities and Net Assets / Fund Balance$6,985,972$6,584,661▼ $401,311

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,413,388$1,052,238$6,465,626
Land$260,884-$260,884
Other Land Buildings$127,358-$127,358
Other Assets Org$2--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Julian DobyChairman
Diane DavisVice Chairman
Veronica RevelsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$404,386
Program Service Revenue
$462,931
Investment Income
$374
Other Revenue
$0
Change in Net Assets
$-229,576
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,090,382
Salaries, Compensation, and Employee Benefits$6,885
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$309,101--$309,101
Depreciation Depletion$257,219--$257,219
Other Expenses$75,059--$75,059
Insurance$31,805--$31,805
Payroll Taxes$6,885--$6,885
Total Functional Expenses$1,097,267$0$0$1,097,267
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
2191$30,355
2190$27,397
2390$22,012
2210$155
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
2018-08-01
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
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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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01052238
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06465626
IRS990ScheduleD/LandGrp/BookValueAmt0260884
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0260884
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt024234
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1358744
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22
IRS990ScheduleD/OtherAssetsOrgGrp/Desc01310
IRS990ScheduleD/OtherAssetsOrgGrp/Desc11320
IRS990ScheduleD/OtherAssetsOrgGrp/Desc21340
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0127358
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0127358
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt027397
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt130355
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2155
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt322012
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc02190
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc12191
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc22210
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc32390
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05801630
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0382980
IRS990ScheduleD/TotalLiabilityAmt079919
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/TemporarilyRstrNetAssetsGrp/EOYAmt0382980
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06985972
IRS990/TotalAssetsEOYAmt06584661
IRS990/TotalAssetsGrp/BOYAmt06985972
IRS990/TotalAssetsGrp/EOYAmt06584661
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0404386
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01097267
IRS990/TotalFunctionalExpensesGrp/TotalAmt01097267
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05682610
IRS990/TotalLiabilitiesEOYAmt05510875
IRS990/TotalLiabilitiesGrp/BOYAmt05682610
IRS990/TotalLiabilitiesGrp/EOYAmt05510875
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01303362
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01073786
IRS990/TotalProgramServiceExpensesAmt01097267
IRS990/TotalProgramServiceRevenueAmt0462931
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0463305
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0867691
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06985972
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06584661
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01303362
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0690806
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Veronica Revels
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-01
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/ReturnTs02018-08-01T11:44:14-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-10-01
ReturnHeader/TaxPeriodEndDt02017-09-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,584,661
Liabilities
$5,510,875
Net assets
$1,073,786
Revenue
$867,691
Expenses
$1,097,267
Net income
-$229,576
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
2017Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $5M-$10M nonprofits