Civic Intelligence

Project Rebuild Inc.

990 • Fiscal year 2019 • EIN 46-4340949

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 04, 2020

150 Broadway Suite 2101New York, NY 10038

(212) 584-8981

Siviq Scores

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

Liabilities / Assets

25th percentile

0.05x

Higher debt load relative to assets than 25% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

72nd percentile

0.76x

Higher debt load relative to revenue than 72% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

8th percentile

-28%

Higher net margin than 8% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

48th percentile

$242,221

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 7.7% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

19th percentile

-2.8%

Faster asset growth than 19% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

2nd percentile

-68%

Faster revenue growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Assets

Down

$45,857,693

Down $1,317,740 (-2.8%) from 2018

Net Assets

Down

$43,483,302

Down $863,828 (-1.9%) from 2018

Liabilities

Down

$2,374,391

Down $453,912 (-16%) from 2018

Revenue

Down

$3,132,501

Down $6,614,589 (-68%) from 2018

Expenses

Up

$3,996,329

Up $3,136,480 (+365%) from 2018

Net Income

Down

-$863,828

Down $9,751,069 (-110%) from 2018

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2014: $0Net Assets 2014: $02014Assets 2015: $0Liabilities 2015: $194,073Net Assets 2015: -$194,0732015Assets 2016: $25,744,782Liabilities 2016: $12,373,693Net Assets 2016: $13,371,0892016Assets 2017: $37,796,903Liabilities 2017: $6,011,040Net Assets 2017: $31,785,8632017Assets 2018: $47,175,433Liabilities 2018: $2,828,303Net Assets 2018: $44,347,1302018Assets 2019: $45,857,693Liabilities 2019: $2,374,391Net Assets 2019: $43,483,3022019Assets 2020: $54,952,598Liabilities 2020: $3,037,022Net Assets 2020: $51,915,5762020Assets 2021: $7,122,605Liabilities 2021: $2,437,823Net Assets 2021: $4,684,7822021Assets 2022: $3,221,678Liabilities 2022: $2,775,826Net Assets 2022: $445,8522022Assets 2023: $30,671Liabilities 2023: $30,671Net Assets 2023: $02023Assets 2024: $25,844Liabilities 2024: $7,162Net Assets 2024: $18,6822024

Highlighted filing

2019

Assets$45,857,693
Liabilities$2,374,391
Net Assets$43,483,302

Operations Trend

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

$20M$0-$20M-$40M-$60MExpenses 2015: $194,0732015Revenue 2016: $13,907,448Expenses 2016: $342,286Net Income 2016: $13,565,1622016Revenue 2017: $18,885,358Expenses 2017: $540,311Net Income 2017: $18,345,0472017Revenue 2018: $9,747,090Expenses 2018: $859,849Net Income 2018: $8,887,2412018Revenue 2019: $3,132,501Expenses 2019: $3,996,329Net Income 2019: -$863,8282019Revenue 2020: $9,888,362Expenses 2020: $1,456,088Net Income 2020: $8,432,2742020Revenue 2021: -$46,780,468Expenses 2021: $450,326Net Income 2021: -$47,230,7942021Revenue 2022: $0Expenses 2022: $3,753,763Net Income 2022: -$3,753,7632022Revenue 2023: $0Expenses 2023: $445,852Net Income 2023: -$445,8522023Revenue 2024: $18,707Expenses 2024: $25Net Income 2024: $18,6822024

Highlighted filing

2019

Revenue$3,132,501
Expenses$3,996,329
Net Income-$863,828
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 4, 2020
Return Version
2019v5.0
Gross Receipts
$3,132,501
Mission and Program Overview

Mission

The corporation is organized exclusively for the purpose of preserving and creating, on a non-profit basis, housing projects for persons of low and moderate income. In addition to promoting affordable housing opportunities,it seeks to prevent and eliminate blight and foster the stabilization of communities throughout new york city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$891,175$1,517,656▲ $626,481
Cash and Non-Interest-Bearing Accounts$2,478,995$1,353,933▼ $1,125,062
Total Assets$47,175,433$45,857,693▼ $1,317,740
Other Assets Total$43,805,263$42,986,104▼ $819,159
Liabilities
Other Liabilities$2,817,803$2,363,891▼ $453,912
Accounts Payable and Accrued Expenses$10,500$10,500→ $0
Total Liabilities$2,828,303$2,374,391▼ $453,912
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,176,268$43,076,989▼ $99,279
Net Assets With Donor Restrictions$1,170,862$406,313▼ $764,549
Total Net Assets Fund Balance$44,347,130$43,483,302▼ $863,828
Total Liabilities and Net Assets / Fund Balance$47,175,433$45,857,693▼ $1,317,740

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$42,986,104--
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
MR SALVATORE D'AVOLAAssistant Se$34,667$207,554$242,221
MR SALVATORE D'AVOLAAssistant Secretary$34,667$3,203$37,870

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,132,342
Program Service Revenue
$0
Investment Income
$159
Other Revenue
$0
Change in Net Assets
$-863,828

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,132,501
Total Revenue per Audited Statements
$3,132,501
Total Revenue per Form 990
$3,132,501
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,602,662
Salaries, Compensation, and Employee Benefits$393,667
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$249,767$32,870-$282,637
Other Employee Benefits$43,784$8,387-$52,171
Other Expenses$3,534,526$40,225-$40,225
Current Officers, Directors, Trustees, and Key Employees$8,667$26,000-$34,667
Payroll Taxes$20,084$4,108-$24,192
Fees for Services Accounting-$10,500-$10,500
Insurance$8,324$1,897-$10,221
Travel$4,314--$4,314
Office Expenses$1,467$334-$1,801
Fees for Services Other-$775-$775
Fees for Services Legal$300--$300
Total Functional Expenses$3,871,233$125,096$0$3,996,329

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,996,329
Total Expenses per Audited Statements$3,996,329
Total Expenses per Form 990$3,996,329
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan Payable$2,000,000
Due to Neighborhood Restore/rh$363,891
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, Page 6, Part VI, Line 11B

Copy of form 990 is provided to the board before filing.

Form 990, Page 6, Part VI, Line 12C

Yes, by following procedures outlined in the policy statement.

Form 990, Page 6, Part VI, Line 19

Documents are made available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Project Rebuild Inc
EIN
46-4340949
Phone
2125848981
Address
150 BROADWAY SUITE 2101, NEW YORK, NY 10038

Signing Officer

Name
MR SALVATORE D'AVOLA
Title
Assistant Secretary
Phone
2125848981
Signed
2020-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
MR SALVATORE D'AVOLA
Formed
2014
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
VARGAS & RIVERA CPA'S LLP
Address
586 ROUTE 304, NEW CITY, NY 10956
Preparer
Theodore Vargas
Phone
8456383113
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The corporation is organized exclusively for the purpose of preserving and creating, on a non-profit basis, housing projects for persons of low and moderate income. In addition to promoting affordable housing opportunities,it seeks to prevent and eliminate blight and foster the stabilization of communities throughout new york city.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ENTERPRISE COMMUNITY PARTNERS INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1LOCAL INITIATIVES SUPPORT CORPORATION
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0ENTERPRISE COMMUNITY PARTNERS INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt1LOCAL INITIATIVES SUPPORT CORPORATION
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MR SALVATORE D'AVOLA
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0204351
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PRESERVING AND CREATING, ON A NON-PROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. IN ADDITION TO PROMOTING AFFORDABLE HOUSING OPPORTUNITIES,IT SEEKS TO PREVENT AND ELIMINATE BLIGHT AND FOSTER THE STABILIZATION OF COMMUNITIES THROUGHOUT NEW YORK CITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPY OF FORM 990 IS PROVIDED TO THE BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2YES, BY FOLLOWING PROCEDURES OUTLINED IN THE POLICY STATEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1NEIGHBORHOOD RESTORE HDFC
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IRS990/TotalOtherCompensationAmt020381
IRS990/TotalProgramServiceExpensesAmt03871233
IRS990/TotalReportableCompFromOrgAmt034667
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0159
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