Civic Intelligence

Fairfield Housing Corporation

EIN 46-3309807 • 501(c)3 • Fairfield, CT

Profile

To acquire, develop, manage, rehabilitate, create and preserve affordable housing opportunities for the benefit of low and moderate income individuals, families, and the elderly, to manage quality affordable housing and provide services that help low and moderate income residents to maintain and increase their independence, and to collaborate with neighboring towns to achieve these goals.

15 Pine Tree LaneFairfield, CT 06825
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

87th percentile

0.70x

Higher debt load relative to assets than 87% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

7.21x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

15th percentile

-16%

Higher net margin than 15% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

37th percentile

$97,834

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 17.6% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

66th percentile

9.7%

Faster asset growth than 66% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

53rd percentile

8.6%

Faster revenue growth than 53% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$5,692,137

Up $501,881 (+9.7%) from 2023

Liabilities

Up

$4,005,878

Up $591,817 (+17%) from 2023

Net Assets

Down

$1,686,259

Down $89,936 (-5.1%) from 2023

Revenue

Up

$555,415

Up $44,011 (+8.6%) from 2023

Expenses

Up

$645,351

Up $13,766 (+2.2%) from 2023

Net Income

Up

-$89,936

Up $30,245 (+25%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2015: $2,091,364Liabilities 2015: $1,099,865Net Assets 2015: $991,4992015Assets 2016: $2,184,641Liabilities 2016: $948,811Net Assets 2016: $1,235,8302016Assets 2017: $3,515,582Liabilities 2017: $950,291Net Assets 2017: $2,565,2912017Assets 2018: $4,314,172Liabilities 2018: $1,942,369Net Assets 2018: $2,371,8032018Assets 2019: $4,207,159Liabilities 2019: $1,940,527Net Assets 2019: $2,266,6322019Assets 2020: $4,289,905Liabilities 2020: $2,117,548Net Assets 2020: $2,172,3572020Assets 2021: $4,333,732Liabilities 2021: $2,198,743Net Assets 2021: $2,134,9892021Assets 2022: $5,394,234Liabilities 2022: $3,497,858Net Assets 2022: $1,896,3762022Assets 2023: $5,190,256Liabilities 2023: $3,414,061Net Assets 2023: $1,776,1952023Assets 2024: $5,692,137Liabilities 2024: $4,005,878Net Assets 2024: $1,686,2592024

Highlighted filing

2024

Assets$5,692,137
Liabilities$4,005,878
Net Assets$1,686,259

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2015: $345,405Expenses 2015: $360,133Net Income 2015: -$14,7282015Revenue 2016: $848,587Expenses 2016: $604,256Net Income 2016: $244,3312016Revenue 2017: $1,805,786Expenses 2017: $476,325Net Income 2017: $1,329,4612017Revenue 2018: $402,581Expenses 2018: $596,069Net Income 2018: -$193,4882018Revenue 2019: $399,138Expenses 2019: $504,309Net Income 2019: -$105,1712019Revenue 2020: $425,817Expenses 2020: $520,092Net Income 2020: -$94,2752020Revenue 2021: $494,654Expenses 2021: $532,022Net Income 2021: -$37,3682021Revenue 2022: $515,168Expenses 2022: $753,781Net Income 2022: -$238,6132022Revenue 2023: $511,404Expenses 2023: $631,585Net Income 2023: -$120,1812023Revenue 2024: $555,415Expenses 2024: $645,351Net Income 2024: -$89,9362024

Highlighted filing

2024

Revenue$555,415
Expenses$645,351
Net Income-$89,936

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2019 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.0
Gross Receipts
$399,138
Mission and Program Overview

Mission

To acquire, develop, manage, rehabilitate, create and preserve affordable housing opportunities for the benefit of low and moderate income individuals, families, and the elderly, to manage quality affordable housing and provide services that help low and moderate income residents to maintain and increase their independence, and to collaborate with neighboring towns to achieve these goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,760,501$2,762,557▲ $2,056
Investments Program Related$719,187$716,843▼ $2,344
Cash and Non-Interest-Bearing Accounts$626,178$237,585▼ $388,593
Other Notes and Loans Receivable, Net$178,580$198,517▲ $19,937
Prepaid Expenses and Deferred Charges$6,495$6,117▼ $378
Accounts Receivable$283$525▲ $242
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$4,314,172$4,207,159▼ $107,013
Other Assets Total$22,948$285,015▲ $262,067
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,994,250$1,979,378▼ $14,872
Accounts Payable and Accrued Expenses$69,719$78,036▲ $8,317
Other Liabilities$-121,600$-116,887▲ $4,713
Total Liabilities$1,942,369$1,940,527▼ $1,842
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,371,803$2,266,632▼ $105,171
Total Net Assets Fund Balance$2,371,803$2,266,632▼ $105,171
Total Liabilities and Net Assets / Fund Balance$4,314,172$4,207,159▼ $107,013

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,123,649-$2,123,649
Leasehold Improvements$288,611$128,496$417,107
Buildings$303,374$48,155$351,529
Other Land Buildings$41,108$31,083$72,191
Equipment$5,815$7,084$12,899
Other Assets Org$285,015--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Carol MartinCEO$82,330$82,330

Board Members and Trustees

NameTitle
Carol LandsmanPresident
Rita WatermanSecretary
Gerry StuhlmanTreasurer/VP
Revenue and Support

Revenue Composition

Contributions and Grants
$312,739
Program Service Revenue
$84,598
Investment Income
$656
Other Revenue
$1,145
Change in Net Assets
$-105,171
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$360,472
Salaries, Compensation, and Employee Benefits$143,837
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$141,990--$141,990
Other Salaries and Wages$93,103$33,252-$126,355
Interest$99,421--$99,421
Depreciation Depletion$41,653--$41,653
Fees for Services Management-$19,819-$19,819
Insurance$19,765--$19,765
Payroll Taxes$8,521$2,544-$11,065
Office Expenses$10,465--$10,465
Fees for Services Other$9,500--$9,500
Fees for Services Accounting-$7,060-$7,060
Other Employee Benefits$6,417--$6,417
Advertising$4,205--$4,205
Fees for Services Legal$1,570$688-$2,258
Other Expenses$2,240--$2,240
Information Technology$1,567--$1,567
Conferences and Meetings$529--$529
Total Functional Expenses$440,946$63,363$0$504,309
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
Deferred Financing Costs$-116,887
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
No
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
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Management of day to day operations delegated to professional mgmt. Company with housing experience.

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

Management reviews the 990 and then makes it available to the board for its review.

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

Applicable documents are available upon written request and are made available based on current regulations.

Filing and Contact Details

Filer

Filer Name
Fairfield Housing Corporation
EIN
46-3309807
Phone
2033666578
Address
15 PINE TREE LANE, FAIRFIELD, CT 06825

Signing Officer

Name
Carol Landsman
Title
President
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Ct
Voting Board Members
4
Independent Board Members
3
Employees
0

Preparer

Firm
Maletta & Company
Address
43 Enterprise Drive, Bristol, CT 06010
Preparer
Jason D Geel CPA
Phone
8605826715
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Under provisions of the U.S. Internal Revenue Code, section 501(c)(3), the Entity is exempt from taxes on income, other than unrelated business income, and accordingly does not record a provision for income taxes on its related earnings. In June 2006, a new accounting interpretation was issued regarding accounting for uncertainty in income taxes which prescribes how an entity should measure, recognize, present and disclose positions that it has taken or expects to take on its tax or information returns. The effect of the implementation of this guidance was not material to the financial statements.

Raw XML AppendixShowing 400 of 477 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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IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0401169
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0386841
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0347175
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0343791
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01876313
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0656
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0446
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0334
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0328
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0322
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0936
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt01084
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt01292
IRS990ScheduleA/OtherIncome170Grp/TotalAmt05423
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IRS990ScheduleA/PublicSupportPY170Pct00.99280
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0347175
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0343791
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01876313
IRS990ScheduleA/TotalSupportAmt01883822
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt048155
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0351529
IRS990ScheduleD/EquipmentGrp/BookValueAmt05815
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07084
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt012899
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IRS990ScheduleD/LandGrp/BookValueAmt02123649
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02123649
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0288611
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0128496
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0417107
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0285015
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0PREDEVELOPMENT EXPENSES
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt041108
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt031083
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt072191
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-116887
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED FINANCING COSTS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Under provisions of the U.S. Internal Revenue Code, section 501(c)(3), the Entity is exempt from taxes on income, other than unrelated business income, and accordingly does not record a provision for income taxes on its related earnings. In June 2006, a new accounting interpretation was issued regarding accounting for uncertainty in income taxes which prescribes how an entity should measure, recognize, present and disclose positions that it has taken or expects to take on its tax or information returns. The effect of the implementation of this guidance was not material to the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02762557
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0285015
IRS990ScheduleD/TotalBookValueProgramRltdAmt0716843
IRS990ScheduleD/TotalLiabilityAmt0-116887
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT OF DAY TO DAY OPERATIONS DELEGATED TO PROFESSIONAL MGMT. COMPANY WITH HOUSING EXPERIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT REVIEWS THE 990 AND THEN MAKES IT AVAILABLE TO THE BOARD FOR ITS REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2APPLICABLE DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST AND ARE MADE AVAILABLE BASED ON CURRENT REGULATIONS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0FAIRFIELD HOUSING CORPORATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0TREFOIL LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0364768627
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt03185416
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0CT
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0OWN AND OPERATE 30 UNITS OF LOW INCOME ELDERLY HOUSING
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0399138
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt015 PINE TREE LANE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0FAIRFIELD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0CT
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0FAIRFIELD HOUSING CO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0352519292
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0CT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0PINE TREE HOUSING VENTURES LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt0-298
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd006825
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0811136841
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0RELATED
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0PINE TREE HOUSING LIMITED PARTNERSHIP
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0FAIRFIELD
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0066000403
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LOW INCOME HOUSING
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0FAIRFIELD
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0false
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
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