Civic Intelligence

Burlington Homes Inc.

990 • Fiscal year 2018 • EIN 46-2518059

Oct 01, 2017 to Sep 30, 2018 • Filed on Feb 04, 2019

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

0.86x

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

2018 filings • NTEE L • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

70th percentile

6.60x

Higher debt load relative to revenue than 70% of similar nonprofits.

2018 filings • NTEE L • $5M-$10M nonprofits • Source year 2018

Net Margin

23rd percentile

-24%

Higher net margin than 23% of similar nonprofits.

2018 filings • NTEE L • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

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

2018 filings • NTEE L • $5M-$10M nonprofits • Source year 2018

Asset Growth

21st percentile

-4.2%

Faster asset growth than 21% of similar nonprofits.

2018 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

16th percentile

-5.2%

Faster revenue growth than 16% of similar nonprofits.

2018 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$6,306,000

Down $278,661 (-4.2%) from 2017

Net Assets

Down

$878,232

Down $195,554 (-18%) from 2017

Liabilities

Down

$5,427,768

Down $83,107 (-1.5%) from 2017

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin23rd percentile

Revenue

Down

$822,436

Down $45,255 (-5.2%) from 2017

Expenses

Down

$1,019,498

Down $77,769 (-7.1%) from 2017

Net Income

Up

-$197,062

Up $32,514 (+14%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2018

Assets$6,306,000
Liabilities$5,427,768
Net Assets$878,232
Open 2018 Filing

Operations Trend

Revenue Growth16th 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

2018

Revenue$822,436
Expenses$1,019,498
Net Income-$197,062
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Feb 4, 2019
Return Version
2017v2.2
Gross Receipts
$822,436
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$5,801,630$5,557,325▼ $244,305
Cash and Non-Interest-Bearing Accounts$328,975$304,124▼ $24,851
Prepaid Expenses and Deferred Charges$25,485$25,751▲ $266
Accounts Receivable$44,660$8,748▼ $35,912
Inventories for Sale or Use$931$1,229▲ $298
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$6,584,661$6,306,000▼ $278,661
Other Assets Total$382,980$408,823▲ $25,843
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,398,674$5,352,031▼ $46,643
Other Liabilities$79,919$69,377▼ $10,542
Accounts Payable and Accrued Expenses$32,282$6,360▼ $25,922
Total Liabilities$5,510,875$5,427,768▼ $83,107
Net Assets / Fund Balance
Unrestricted Net Assets$690,806$469,410▼ $221,396
Temporarily Rstr Net Assets$382,980$408,822▲ $25,842
Total Net Assets Fund Balance$1,073,786$878,232▼ $195,554
Total Liabilities and Net Assets / Fund Balance$6,584,661$6,306,000▼ $278,661

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,169,083$1,296,543$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 Pay31st percentile

Board Members and Trustees

NameTitle
Charles CarterChairman
Patrick MillsVice Chairman
Alise NappTrustee
Dorothy YarboroughTrustee
Julian DobyTrustee
LaShauna AustriaTrustee
Lekisha RichardsonTrustee
Veronica RevelsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$433,100
Program Service Revenue
$388,779
Investment Income
$557
Other Revenue
$0
Change in Net Assets
$-197,062
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,019,498
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
Interest$306,517--$306,517
Depreciation Depletion$244,306--$244,306
Insurance$20,162--$20,162
Other Expenses$14,400--$14,400
Total Functional Expenses$1,019,498$0$0$1,019,498
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$30,914
2390$21,075
2190$16,610
2210$778
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
2019-02-04
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
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Restatement of net assets due to change in acctg principle = $1508”

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IRS990/ProgramServiceRevenueGrp/Desc0Other charges (5900T)
IRS990/ProgramServiceRevenueGrp/Desc1Rent residents (5120)
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt037295
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1351484
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt037295
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1351484
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0404386
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0374
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01090382
IRS990/PYProgramServiceRevenueAmt0462931
IRS990/PYRevenuesLessExpensesAmt0-229576
IRS990/PYSalariesCompEmpBnftPaidAmt06885
IRS990/PYTotalExpensesAmt01097267
IRS990/PYTotalRevenueAmt0867691
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-197062
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0433100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0404386
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0379961
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0273125
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0179477
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01670049
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0557
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0374
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0305
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01236
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99930
IRS990ScheduleA/PublicSupportTotal170Amt01670049
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0433100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0404386
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0379961
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0273125
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0179477
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01670049
IRS990ScheduleA/TotalSupportAmt01671285
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt05169083
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01296543
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06465626
IRS990ScheduleD/LandGrp/BookValueAmt0260884
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0260884
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt024892
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1383929
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22
IRS990ScheduleD/OtherAssetsOrgGrp/Desc01310
IRS990ScheduleD/OtherAssetsOrgGrp/Desc11320
IRS990ScheduleD/OtherAssetsOrgGrp/Desc21340
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0127358
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0127358
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016610
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt130914
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2778
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt321075
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc02190
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc12191
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc22210
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc32390
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05557325
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0408823
IRS990ScheduleD/TotalLiabilityAmt069377
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/ExplanationTxt3Restatement of net assets due to change in acctg principle = $1508
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0382980
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0408822
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06584661
IRS990/TotalAssetsEOYAmt06306000
IRS990/TotalAssetsGrp/BOYAmt06584661
IRS990/TotalAssetsGrp/EOYAmt06306000
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0433100
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01019498
IRS990/TotalFunctionalExpensesGrp/TotalAmt01019498
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05510875
IRS990/TotalLiabilitiesEOYAmt05427768
IRS990/TotalLiabilitiesGrp/BOYAmt05510875
IRS990/TotalLiabilitiesGrp/EOYAmt05427768
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01073786
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0878232
IRS990/TotalProgramServiceExpensesAmt01019498
IRS990/TotalProgramServiceRevenueAmt0388779
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0389336
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0822436
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06584661
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06306000
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0690806
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0469410

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$6,306,000
Liabilities
$5,427,768
Net assets
$878,232
Revenue
$822,436
Expenses
$1,019,498
Net income
-$197,062
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
2018Detailed filing. Detailed filing data is available for this year.$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