Civic Intelligence

Clinton Hill Community Apartments

990 • Fiscal year 2016 • EIN 51-0199145

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

Organization ProfileN/A
1290 Springfield AvenueIrvington, NJ 07111

(973) 371-4500

Siviq Scores

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

Liabilities / Assets

65th percentile

1.04x

Higher debt load relative to assets than 65% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

49th percentile

1.84x

Higher debt load relative to revenue than 49% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Net Margin

70th percentile

5.9%

Higher net margin than 70% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Asset Growth

24th percentile

-4.7%

Faster asset growth than 24% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

43rd percentile

0.7%

Faster revenue growth than 43% of similar nonprofits.

2016 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$4,354,967

Down $215,015 (-4.7%) from 2015

Net Assets

Up

-$159,509

Up $144,563 (+48%) from 2015

Liabilities

Down

$4,514,476

Down $359,578 (-7.4%) from 2015

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin70th percentile

Revenue

Up

$2,458,269

Up $17,498 (+0.7%) from 2015

Expenses

Down

$2,313,706

Down $54,777 (-2.3%) from 2015

Net Income

Up

$144,563

Up $72,275 (+100%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $4,171,614Liabilities 2010: $6,076,571Net Assets 2010: -$1,904,9572010Assets 2011: $4,074,352Liabilities 2011: $5,878,807Net Assets 2011: -$1,804,4552011Assets 2012: $4,759,616Liabilities 2012: $5,750,436Net Assets 2012: -$990,8202012Assets 2013: $4,729,707Liabilities 2013: $5,404,035Net Assets 2013: -$674,3282013Assets 2014: $4,775,985Liabilities 2014: $5,152,345Net Assets 2014: -$376,3602014Assets 2015: $4,569,982Liabilities 2015: $4,874,054Net Assets 2015: -$304,0722015Assets 2016: $4,354,967Liabilities 2016: $4,514,476Net Assets 2016: -$159,5092016Assets 2017: $4,163,023Liabilities 2017: $4,406,047Net Assets 2017: -$243,0242017Assets 2018: $4,375,251Liabilities 2018: $3,989,718Net Assets 2018: $385,5332018Assets 2019: $4,012,748Liabilities 2019: $3,658,936Net Assets 2019: $353,8122019Assets 2020: $3,700,726Liabilities 2020: $3,337,649Net Assets 2020: $363,0772020Assets 2021: $3,523,648Liabilities 2021: $2,928,577Net Assets 2021: $595,0712021Assets 2022: $3,383,294Liabilities 2022: $2,420,372Net Assets 2022: $962,9222022Assets 2023: $2,983,130Liabilities 2023: $2,409,942Net Assets 2023: $573,1882023Assets 2024: $3,507,741Liabilities 2024: $3,520,502Net Assets 2024: -$12,7612024

Highlighted filing

2016

Assets$4,354,967
Liabilities$4,514,476
Net Assets-$159,509
Open 2016 Filing

Operations Trend

Revenue Growth43rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,492,6742010Revenue 2011: $2,444,931Expenses 2011: $2,524,244Net Income 2011: -$79,3132011Expenses 2012: $2,522,1372012Revenue 2013: $2,474,156Expenses 2013: $2,157,664Net Income 2013: $316,4922013Revenue 2014: $2,518,410Expenses 2014: $2,220,442Net Income 2014: $297,9682014Revenue 2015: $2,440,771Expenses 2015: $2,368,483Net Income 2015: $72,2882015Revenue 2016: $2,458,269Expenses 2016: $2,313,706Net Income 2016: $144,5632016Revenue 2017: $2,397,444Expenses 2017: $2,437,467Net Income 2017: -$40,0232017Revenue 2018: $2,424,283Expenses 2018: $2,234,723Net Income 2018: $189,5602018Revenue 2019: $2,533,848Expenses 2019: $2,441,539Net Income 2019: $92,3092019Revenue 2020: $2,453,663Expenses 2020: $2,300,661Net Income 2020: $153,0022020Revenue 2021: $2,417,803Expenses 2021: $2,256,647Net Income 2021: $161,1562021Revenue 2022: $2,291,019Expenses 2022: $2,555,134Net Income 2022: -$264,1152022Revenue 2023: $2,111,244Expenses 2023: $2,460,932Net Income 2023: -$349,6882023Revenue 2024: $2,253,707Expenses 2024: $2,839,656Net Income 2024: -$585,9492024

Highlighted filing

2016

Revenue$2,458,269
Expenses$2,313,706
Net Income$144,563
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$2,458,269
Mission and Program Overview

Mission

To provide affordable housing to low income families in newark, nj under section 236 of the national housing act and regulated by the new jersey hmfa and the u.s. Department of housing and urban development (hud) with respect to rental charges, operating methods and rent subsidies. The project's major financing are derived from its subsidized njhmfa mortgages and the petroleum overcharge reimbursement fund energy improvement loan (porf) program provided by njhmfa, section 236 interest reduction program and rent subsidies provided by hud. The projct is subject to section 8 and housing assistance payment agreements with hud, the housing authority of the city of newark and njhmfa, and, a significant portion of the project's rental income is received from these sources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,024,386$2,818,463▼ $205,923
Prepaid Expenses and Deferred Charges$94,856$88,024▼ $6,832
Cash and Non-Interest-Bearing Accounts$101,588$77,364▼ $24,224
Accounts Receivable$57,674$27,960▼ $29,714
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-
Inventories for Sale or Use-$0-
Total Assets$4,569,982$4,354,967▼ $215,015
Other Assets Total$1,291,478$1,343,156▲ $51,678
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,700,000$4,299,312▼ $400,688
Other Liabilities$97,858$108,005▲ $10,147
Accounts Payable and Accrued Expenses$76,196$107,159▲ $30,963
Total Liabilities$4,874,054$4,514,476▼ $359,578
Net Assets / Fund Balance
Temporarily Rstr Net Assets$946,536$1,029,876▲ $83,340
Unrestricted Net Assets$-1,250,608$-1,189,385▲ $61,223
Total Net Assets Fund Balance$-304,072$-159,509▲ $144,563
Total Liabilities and Net Assets / Fund Balance$4,569,982$4,354,967▼ $215,015

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,609,892$5,487,755$8,097,647
Equipment$56,160$104,399$160,559
Land$121,253-$121,253
Leasehold Improvements$22,488$41,769$64,257
Other Land Buildings$8,670$24,890$33,560
Other Assets Org$108,005--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Anthony KerrPresident
Delores WarrenBoard Member
Dorothy PurvisBoard Member
Kevin SmithBoard Member
Soyeymane ToureBoard Member
Edward HaynesMember

Highest Paid Contractors

ContractorServicesLocationCompensation
State Realty Agency IncMgt & Bookkeeping1290 Springfield Avenue, Irvington, NJ 07111$139,868
Revenue and Support

Revenue Composition

Contributions and Grants
$385,837
Program Service Revenue
$2,052,967
Investment Income
$1,889
Other Revenue
$17,576
Change in Net Assets
$144,563

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,226,594
Revenue Not Reported on Financial Statements
$231,675
Other Revenue Adjustments
$231,675
Total Revenue per Audited Statements
$2,226,594
Total Revenue per Form 990
$2,458,269
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,946,551
Salaries, Compensation, and Employee Benefits$367,155
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$257,575--$257,575
Depreciation Depletion$232,873--$232,873
Interest$231,675--$231,675
All Other Expenses$180,429--$180,429
Insurance$170,510--$170,510
Other Expenses$139,868--$139,868
Other Employee Benefits$76,920--$76,920
Payroll Taxes$32,660--$32,660
Fees for Services Legal$29,653--$29,653
Office Expenses$27,824--$27,824
Fees for Services Accounting-$13,536-$13,536
Conferences and Meetings$2,483--$2,483
Total Functional Expenses$2,300,170$13,536$0$2,313,706

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,313,706
Total Expenses per Audited Statements$2,165,371
Expenses per Audited Statements$2,082,031
Expenses Not Reported on Financial Statements$231,675
Other Expense Adjustments$231,675
Expenses Not Reported on Form 990$83,340
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
Tenants Security Deposits$108,005
Governance and Compliance

Governance Checklist

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

“The board of directors must approve the federal tax form 990and the related state tax filings.”

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

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Clinton Hill Community Apartments
EIN
51-0199145
Phone
9733714500
Address
1290 SPRINGFIELD AVENUE, IRVINGTON, NJ 07111

Signing Officer

Name
Anthony Kerr
Title
President
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1972
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
6
Employees
10

Preparer

Firm
Berdon Llp
Address
360 MADISON AVE, NEW YORK, NY 10017
Preparer
Stuart Koch
Phone
2128320400
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Management has determined that the Organization had no uncertain tax positions that would require financial statement recognition. The Organization is no longer subject to income tax examination by the U.S. federal, state or local tax authorities for years before 2012, which is the standard statute of limitations look-back period.”

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Interest reduction subsidy - net $231675”

Part XII, Line 2D: Other expenses and losses per audited F/S

“provision for replacement reserve $83340”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Interest reduction subsidy - net $231675”

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IRS990/MissionDesc0TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES IN NEWARK, NJ UNDER SECTION 236 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE NEW JERSEY HMFA AND THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITH RESPECT TO RENTAL CHARGES, OPERATING METHODS AND RENT SUBSIDIES. THE PROJECT'S MAJOR FINANCING ARE DERIVED FROM ITS SUBSIDIZED NJHMFA MORTGAGES AND THE PETROLEUM OVERCHARGE REIMBURSEMENT FUND ENERGY IMPROVEMENT LOAN (PORF) PROGRAM PROVIDED BY NJHMFA, SECTION 236 INTEREST REDUCTION PROGRAM AND RENT SUBSIDIES PROVIDED BY HUD. THE PROJCT IS SUBJECT TO SECTION 8 AND HOUSING ASSISTANCE PAYMENT AGREEMENTS WITH HUD, THE HOUSING AUTHORITY OF THE CITY OF NEWARK AND NJHMFA, AND, A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM THESE SOURCES.
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IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01558
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IRS990ScheduleA/InvestmentIncomePYPct00.00060
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt09346
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0100075
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt041769
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt6108005
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0GRANT ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INSURANCE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2MINIMUM ESCROW FUND
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REAL ESTATE TAX ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5sECTION 236 EXCESS ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6TENANTS SECURITY DEPOSITS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0108005
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS SECURITY DEPOSITS
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0231675
IRS990ScheduleD/RevenueSubtotalAmt02226594
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Management has determined that the Organization had no uncertain tax positions that would require financial statement recognition. The Organization is no longer subject to income tax examination by the U.S. federal, state or local tax authorities for years before 2012, which is the standard statute of limitations look-back period.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Interest reduction subsidy - net $231675

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,354,967
Liabilities
$4,514,476
Net assets
-$159,509
Revenue
$2,458,269
Expenses
$2,313,706
Net income
$144,563
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.51$3.52$0.01$2.25$2.84$0.59
2023Detailed filing. Detailed filing data is available for this year.$2.98$2.41$0.57$2.11$2.46$0.35
2022Detailed filing. Detailed filing data is available for this year.$3.38$2.42$0.96$2.29$2.56$0.26
2021Detailed filing. Detailed filing data is available for this year.$3.52$2.93$0.60$2.42$2.26$0.16
2020Detailed filing. Detailed filing data is available for this year.$3.70$3.34$0.36$2.45$2.30$0.15
2019Detailed filing. Detailed filing data is available for this year.$4.01$3.66$0.35$2.53$2.44$0.09
2018Detailed filing. Detailed filing data is available for this year.$4.38$3.99$0.39$2.42$2.23$0.19
2017Detailed filing. Detailed filing data is available for this year.$4.16$4.41$0.24$2.40$2.44$0.04
2016Detailed filing. Detailed filing data is available for this year.$4.35$4.51$0.16$2.46$2.31$0.14
2015Detailed filing. Detailed filing data is available for this year.$4.57$4.87$0.30$2.44$2.37$0.07
2014Detailed filing. Detailed filing data is available for this year.$4.78$5.15$0.38$2.52$2.22$0.30
2013Detailed filing. Detailed filing data is available for this year.$4.73$5.40$0.67$2.47$2.16$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.76$5.75$0.99$2.52
2011Summary only. Only limited summary data is available for this year.$4.07$5.88$1.80$2.44$2.52$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.17$6.08$1.90$2.49