Civic Intelligence

Us Mcleod Housing Development Fund Corporation

990 • Fiscal year 2020 • EIN 47-2901744

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization Profile
294 Sumpter StreetBrooklyn, NY 11233

(718) 919-3600

Siviq Scores

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

Liabilities / Assets

80th percentile

1.14x

Higher debt load relative to assets than 80% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

6.81x

Higher debt load relative to revenue than 73% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Net Margin

14th percentile

-39%

Higher net margin than 14% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2020 filings • NTEE L • $5M-$10M nonprofits • Source year 2020

Asset Growth

71st percentile

5.0%

Faster asset growth than 71% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2017 to 2020

Revenue Growth

64th percentile

3.4%

Faster revenue growth than 64% of similar nonprofits.

2020 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2017 to 2020

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$8,798,137

Up $1,196,165 (+16%) from 2017

Net Assets

Down

-$1,258,363

Down $1,127,265 (-860%) from 2017

Liabilities

Up

$10,056,500

Up $2,323,430 (+30%) from 2017

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin14th percentile

Revenue

Up

$1,476,976

Up $139,857 (+10%) from 2017

Expenses

Up

$2,051,518

Up $725,505 (+55%) from 2017

Net Income

Down

-$574,542

Down $585,648 (-5273%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2015: $7,993,406Liabilities 2015: $8,076,230Net Assets 2015: -$82,8242015Assets 2016: $7,803,698Liabilities 2016: $7,945,902Net Assets 2016: -$142,2042016Assets 2017: $7,601,972Liabilities 2017: $7,733,070Net Assets 2017: -$131,0982017Assets 2020: $8,798,137Liabilities 2020: $10,056,500Net Assets 2020: -$1,258,3632020Assets 2021: $8,451,048Liabilities 2021: $10,248,156Net Assets 2021: -$1,797,1082021Assets 2022: $8,154,687Liabilities 2022: $10,481,900Net Assets 2022: -$2,327,2132022Assets 2023: $7,802,187Liabilities 2023: $10,789,710Net Assets 2023: -$2,987,5232023Assets 2024: $7,564,553Liabilities 2024: $11,147,987Net Assets 2024: -$3,583,4342024

Highlighted filing

2020

Assets$8,798,137
Liabilities$10,056,500
Net Assets-$1,258,363
Open 2020 Filing

Operations Trend

Revenue Growth64th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $637,081Expenses 2015: $719,905Net Income 2015: -$82,8242015Revenue 2016: $1,309,164Expenses 2016: $1,379,589Net Income 2016: -$70,4252016Revenue 2017: $1,337,119Expenses 2017: $1,326,013Net Income 2017: $11,1062017Revenue 2020: $1,476,976Expenses 2020: $2,051,518Net Income 2020: -$574,5422020Revenue 2021: $1,427,008Expenses 2021: $1,965,753Net Income 2021: -$538,7452021Revenue 2022: $1,454,276Expenses 2022: $1,989,620Net Income 2022: -$535,3442022Revenue 2023: $1,471,595Expenses 2023: $2,131,905Net Income 2023: -$660,3102023Revenue 2024: $1,481,609Expenses 2024: $2,077,520Net Income 2024: -$595,9112024

Highlighted filing

2020

Revenue$1,476,976
Expenses$2,051,518
Net Income-$574,542
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$1,476,976
Mission and Program Overview

Mission

The Corporation is a charitable not-for-profit corporation organized exclusively for thepurpose of developing and operating a housing project for Persons Of Low Income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,114,296$7,761,501▼ $352,795
Accounts Receivable$127,121$117,400▼ $9,721
Cash and Non-Interest-Bearing Accounts$8,633$8,618▼ $15
Total Assets$9,286,520$8,798,137▼ $488,383
Other Assets Total$1,036,470$910,618▼ $125,852
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,723,899$9,723,899→ $0
Accounts Payable and Accrued Expenses$156,452$245,223▲ $88,771
Other Liabilities$89,990$87,378▼ $2,612
Total Liabilities$9,970,341$10,056,500▲ $86,159
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-683,821$-1,258,363▼ $574,542
Total Net Assets Fund Balance$-683,821$-1,258,363▼ $574,542
Total Liabilities and Net Assets / Fund Balance$9,286,520$8,798,137▼ $488,383

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,761,501$1,580,212$9,341,713
Other Assets Org$78,295--
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Gloria Mark FaircloughChairperson
Pelham BollersExecutive Director
Reginald JonesController
Joseph BaptisteMember
Natasha Cherry-PerezMember
Tracy GivensMember
Victoria IlleryMember
Yvonne RedwoodMember
Dionne FranceSecretary
Courtney NewellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,239,568
Investment Income
$0
Other Revenue
$237,408
Change in Net Assets
$-574,542

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,476,976
Total Revenue per Audited Statements
$1,476,976
Total Revenue per Form 990
$1,476,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,735,711
Salaries, Compensation, and Employee Benefits$315,807
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$706,155--$706,155
Depreciation Depletion$352,795--$352,795
Insurance$265,129--$265,129
Other Salaries and Wages$232,408--$232,408
Other Expenses$85,335$107,447-$107,447
Fees for Services Accounting-$101,273-$101,273
Other Employee Benefits$63,101--$63,101
Interest$62,853--$62,853
All Other Expenses$38,691--$38,691
Payroll Taxes$20,298--$20,298
Fees for Services Legal$6,437--$6,437
Travel$1,193--$1,193
Total Functional Expenses$1,840,185$211,333$0$2,051,518

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,051,518
Total Expenses per Audited Statements$2,051,518
Total Expenses per Form 990$2,051,518
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
Tenant Security Payable$78,295
Due to Tenants$9,083
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 governing body review Part VI line 11

“The Form 990 is provided to the organizations governing body for their review and approval prior to filing.”

Conflict of interest policy compliance Part VI line 12C

“You are required to disclose in good faith and in writing to the Board and or the FinanceCommittee at the Business Office, 294 Sumpter Avenue, Brooklyn, NY all material factsrelated to conflicts of interest (including those that implicate an Other Related Partybut not a Covered Person) (including the nature of your or the Other Related Partysinterest and information about any proposed transaction or other arrangement). Disclosuresshould be made in advance, before any action is taken on the matter. Conflictidentification and analysis can be difficult and, therefore, you are at all times expectedto err on the side of caution and disclose all instances where a conflict of interest orthe appearance of a conflict exists.”

Governing documents etc available to public Part VI line 19

“Information and other documents of the organization are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
US Mcleod Hdfc
EIN
47-2901744
Address
294 Sumpter Street, Brooklyn, NY 11233

Signing Officer

Name
Pelham Bollers
Title
Executive Direc
Phone
7189193600
Signed
2021-11-15
Discuss with paid preparer
No

Organization Details

Formed
2015
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Padilla and Company LLP
Address
175-61 Hillside Avenue Ste 200, Jamaica, NY 11432
Preparer
Jose Paolo Espiritu
Phone
7185585858
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01500
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IRS990ScheduleD/ExpensesSubtotalAmt02051518
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1275250
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt224442
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt378295
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Operating Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Replacement Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Utility Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Tenants Security deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt078295
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt19083
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Security Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Due to Tenants
IRS990ScheduleD/RevenueSubtotalAmt01476976
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07761501
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0910618
IRS990ScheduleD/TotalExpensesPerForm990Amt02051518
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IRS990ScheduleD/TotalRevenuePerForm990Amt01476976
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is provided to the organizations governing body for their review and approval prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1You are required to disclose in good faith and in writing to the Board and or the FinanceCommittee at the Business Office, 294 Sumpter Avenue, Brooklyn, NY all material factsrelated to conflicts of interest (including those that implicate an Other Related Partybut not a Covered Person) (including the nature of your or the Other Related Partysinterest and information about any proposed transaction or other arrangement). Disclosuresshould be made in advance, before any action is taken on the matter. Conflictidentification and analysis can be difficult and, therefore, you are at all times expectedto err on the side of caution and disclose all instances where a conflict of interest orthe appearance of a conflict exists.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Information and other documents of the organization are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt08798137
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0211333
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01840185
IRS990/TotalFunctionalExpensesGrp/TotalAmt02051518
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1258363
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01840185
IRS990/TotalProgramServiceRevenueAmt01239568
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IRS990/TravelGrp/TotalAmt01193
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0PELHAM BOLLERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIREC
ReturnHeader/BusinessOfficerGrp/PhoneNum07189193600
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0US MCLEOD HDFC
ReturnHeader/Filer/BusinessNameControlTxt0USMC
ReturnHeader/Filer/EIN0472901744
ReturnHeader/Filer/USAddress/AddressLine1Txt0294 Sumpter Street
ReturnHeader/Filer/USAddress/CityNm0Brooklyn
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011233
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0113287732
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Padilla and Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0175-61 Hillside Avenue Ste 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Jamaica
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011432
ReturnHeader/PreparerPersonGrp/PhoneNum07185585858
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jose Paolo Espiritu
ReturnHeader/ReturnTs02021-11-15T14:15:19-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PELHAM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BOLLERS
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,798,137
Liabilities
$10,056,500
Net assets
-$1,258,363
Revenue
$1,476,976
Expenses
$2,051,518
Net income
-$574,542
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.56$11.1$3.58$1.48$2.08$0.60
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.80$10.8$2.99$1.47$2.13$0.66
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.15$10.5$2.33$1.45$1.99$0.54
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.45$10.2$1.80$1.43$1.97$0.54
2020Detailed filing. Detailed filing data is available for this year.$8.80$10.1$1.26$1.48$2.05$0.57
2017Summary only. Only limited summary data is available for this year.$7.60$7.73$0.13$1.34$1.33$0.01
2016Summary only. Only limited summary data is available for this year.$7.80$7.95$0.14$1.31$1.38$0.07
2015Summary only. Only limited summary data is available for this year.$7.99$8.08$0.08$0.64$0.72$0.08