Civic Intelligence

Wilmington Housing Partnership Corporation

990 • Fiscal year 2016 • EIN 51-0320494

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 14, 2017

Organization ProfileWWW.WILMINGTONHOUSINGPARTNERSHIP.COM

View Organization Page

800 N French St No 7th FLWilmington, DE 19801

(302) 576-3004

Siviq Scores

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

Liabilities / Assets

94th percentile

1.09x

Higher debt load relative to assets than 94% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

45.24x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

1st percentile

-548%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

45th percentile

$110,027

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 81.1% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

80th percentile

15%

Faster asset growth than 80% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-93%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$5,622,050

Up $739,224 (+15%) from 2015

Net Assets

Down

-$512,512

Down $743,703 (-322%) from 2015

Liabilities

Up

$6,134,562

Up $1,482,927 (+32%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$135,607

Down $1,769,418 (-93%) from 2015

Expenses

Up

$879,310

Up $55,351 (+6.7%) from 2015

Net Income

Down

-$743,703

Down $1,824,769 (-169%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$10M$5.0M$0-$5.0M-$10MAssets 2011: $8,876,254Liabilities 2011: $6,500,935Net Assets 2011: $2,375,3192011Assets 2012: $4,223,284Liabilities 2012: $2,332,304Net Assets 2012: $1,890,9802012Assets 2013: $2,748,893Liabilities 2013: $2,446,072Net Assets 2013: $302,8212013Assets 2014: $2,001,202Liabilities 2014: $2,924,747Net Assets 2014: -$923,5452014Assets 2015: $4,882,826Liabilities 2015: $4,651,635Net Assets 2015: $231,1912015Assets 2016: $5,622,050Liabilities 2016: $6,134,562Net Assets 2016: -$512,5122016Assets 2017: $6,618,856Liabilities 2017: $7,144,783Net Assets 2017: -$525,9272017Assets 2018: $7,995,748Liabilities 2018: $7,872,949Net Assets 2018: $122,7992018Assets 2019: $2,679,210Liabilities 2019: $8,721,563Net Assets 2019: -$6,042,3532019Assets 2020: $1,775,569Liabilities 2020: $5,454,714Net Assets 2020: -$3,679,1452020Assets 2021: $1,395,579Liabilities 2021: $5,100,575Net Assets 2021: -$3,704,9962021Assets 2022: $945,086Liabilities 2022: $4,100,179Net Assets 2022: -$3,155,0932022Assets 2023: $1,148,205Liabilities 2023: $4,472,440Net Assets 2023: -$3,324,2352023Assets 2024: $1,144,513Liabilities 2024: $4,687,599Net Assets 2024: -$3,543,0862024

Highlighted filing

2016

Assets$5,622,050
Liabilities$6,134,562
Net Assets-$512,512
Open 2016 Filing

Operations Trend

Revenue Growth1st percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2011: $584,7452011Expenses 2012: $488,4732012Expenses 2013: $621,8212013Revenue 2014: -$616,688Expenses 2014: $609,678Net Income 2014: -$1,226,3662014Revenue 2015: $1,905,025Expenses 2015: $823,959Net Income 2015: $1,081,0662015Revenue 2016: $135,607Expenses 2016: $879,310Net Income 2016: -$743,7032016Revenue 2017: $1,185,342Expenses 2017: $1,127,400Net Income 2017: $57,9422017Revenue 2018: $1,585,690Expenses 2018: $936,964Net Income 2018: $648,7262018Revenue 2019: $837,993Expenses 2019: $1,338,778Net Income 2019: -$500,7852019Revenue 2020: $2,745,831Expenses 2020: $382,623Net Income 2020: $2,363,2082020Revenue 2021: $68,192Expenses 2021: $152,167Net Income 2021: -$83,9752021Revenue 2022: $677,462Expenses 2022: $127,629Net Income 2022: $549,8332022Revenue 2023: $253,629Expenses 2023: $465,270Net Income 2023: -$211,6412023Revenue 2024: $55,206Expenses 2024: $274,057Net Income 2024: -$218,8512024

Highlighted filing

2016

Revenue$135,607
Expenses$879,310
Net Income-$743,703
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 14, 2017
Return Version
2015v3.0
Gross Receipts
$1,640,523
Mission and Program Overview

Mission

To collaborate with select private, non-profit, and governmental entities to increase the city of wilmingtons affordable housing stock by promoting renovation/rehabilitation and limited new home construction in stategically selected areas while supporting low to moderate income

To collaborate with select private, non-profit, and governmental entities to increase the city of wilmington's affordable housing stock by promoting renovation/rehabilitation and limited new home construction in strategically selected areas while supporting low-to-moderate income individuals and neighborhoods, and contributing to the overall neighborhood stabilization and economic vitality through homeownership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$2,539,367$3,943,713▲ $1,404,346
Other Notes and Loans Receivable, Net$1,595,667$1,455,948▼ $139,719
Pledges and Grants Receivable$287,476$176,500▼ $110,976
Cash and Non-Interest-Bearing Accounts$440,452$41,215▼ $399,237
Intangible Assets$18,417$3,683▼ $14,734
Land, Buildings, and Equipment, Net$1,447$991▼ $456
Total Assets$4,882,826$5,622,050▲ $739,224
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,261,641$5,889,387▲ $1,627,746
Accounts Payable and Accrued Expenses$339,167$186,784▼ $152,383
Other Liabilities$50,827$58,391▲ $7,564
Total Liabilities$4,651,635$6,134,562▲ $1,482,927
Net Assets / Fund Balance
Temporarily Rstr Net Assets$112,400$80,200▼ $32,200
Unrestricted Net Assets$118,791$-592,712▼ $711,503
Total Net Assets Fund Balance$231,191$-512,512▼ $743,703
Total Liabilities and Net Assets / Fund Balance$4,882,826$5,622,050▲ $739,224

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$991$21,189$22,180
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steven MartinExecutive DirectorFT$95,152$14,875$110,027

Board Members and Trustees

NameTitle
Robert E BucciniChairman
Nailah B GilliamPresident
Peter C MorrowVice-chairman
Allison KerwinBoard Member
Charles M FreelBoard Member
Gary FullmanBoard Member
Janet DoughertyBoard Member
Jeffrey FlynnBoard Member
John James CoaneBoard Member
Leonard SophrinBoard Member
Norma ZumstegBoard Member
Richard Gessner JrBoard Member
Rodney LambertBoard Member
Sharon Oras MorganBoard Member
Sheila Winfrey-brownBoard Member
Thomas EspositoBoard Member
James WrightSecretary
Fred C Sears IiTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Casale Construction LLCConstruction Contractor303 7TH AVE, Wilmington, DE 19805$810,780
Econsult Solutions INCConsultant1435 WALNUT STREET, Philadelphia, PA 19102$308,047
Clear LLCConstruction Contractor2111 BOWERS STREET, Wilmington, DE 19802$224,321
Cla Construction INCConstruction Contractor1002 N CLAYTON STREET, Wilmington, DE 19805$173,028
Revenue and Support

Revenue Composition

Contributions and Grants
$1,422,514
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-1,286,907
All Other Contributions
$820,300
Change in Net Assets
$-743,703

Audited Revenue Reconciliation

Revenue per Audited Statements
$135,607
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$39,187
Total Revenue per Audited Statements
$174,794
Total Revenue per Form 990
$135,607
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$556,959
Salaries, Compensation, and Employee Benefits$322,351
Total Fundraising Expense$16,118
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$148,374$17,456$8,728$174,558
Current Officers, Directors, Trustees, and Key Employees$89,143$10,488$5,244$104,875
Interest$39,071--$39,071
Fees for Services Accounting-$25,750-$25,750
Other Employee Benefits$18,974$2,232$1,116$22,322
Payroll Taxes$17,506$2,060$1,030$20,596
Fees for Services Legal$16,210--$16,210
Depreciation Depletion$15,189--$15,189
Office Expenses$8,297--$8,297
Conferences and Meetings$7,828--$7,828
Travel$7,737--$7,737
Other Expenses$514--$514
All Other Expenses$334--$334
Total Functional Expenses$805,206$57,986$16,118$879,310

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$918,497
Expenses per Audited Statements$879,310
Total Expenses per Form 990$879,310
Expenses Not Reported on Form 990$39,187
Expenses Not Reported on Financial Statements$0
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
Retainage Payable$58,391
Governance and Compliance

Governance Checklist

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

“The finance committee reviews and approves the annual form 990.”

Form 990, Part VI, Section B, Line 12C

“Board members are required to complete the conflict of interest form annually. These forms are then reviewed by staff to ensure compliance.”

Form 990, Part VI, Section B, Line 15A

“The finance chair and chairman of the board determine compensation of the executive director.”

Form 990, Part VI, Section C, Line 19

“Wilmington housing partnership corporation's governing documents, conflict of interest policy, and financial statements are made public through request. An advertisement is also put in the newspaper indicating documents are available.”

Filing and Contact Details

Filer

Filer Name
Wilmington Housing Partnership
EIN
51-0320494
Phone
3025763004
Address
800 N FRENCH ST NO 7TH FL, WILMINGTON, DE 19801

Signing Officer

Name
Steven Martin
Title
Executive Director
Phone
3025763004
Signed
2017-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Martin
Formed
1989
Legal Domicile
De
Voting Board Members
18
Independent Board Members
18
Employees
4
Volunteers
0

Preparer

Firm
Belfint Lyons & Shuman Pa
Address
1011 CENTRE RD STE 310, WILMINGTON, DE 19805
Preparer
Jonathan D Moll CPA
Phone
3022250600
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“This process has not significantly changed.”

Financial Statement Notes

PART X, LINE 2:

“Income not related to the corporation's tax-exempt purpose may be subject to taxation as unrelated business income. Accounting principles generally accepted in the united states of america impose a threshold for determining when an income tax benefit can be recognized in regard to uncertain tax positions. The corporation has determined that no liability for uncertain tax positions is required to be accrued and included in the statement of financial position as of june 30, 2016.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
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IRS990/GrantToRelatedPersonInd00
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO COLLABORATE WITH SELECT PRIVATE, NON-PROFIT, AND GOVERNMENTAL ENTITIES TO INCREASE THE CITY OF WILMINGTON'S AFFORDABLE HOUSING STOCK BY PROMOTING RENOVATION/REHABILITATION AND LIMITED NEW HOME CONSTRUCTION IN STRATEGICALLY SELECTED AREAS WHILE SUPPORTING LOW-TO-MODERATE INCOME INDIVIDUALS AND NEIGHBORHOODS, AND CONTRIBUTING TO THE OVERALL NEIGHBORHOOD STABILIZATION AND ECONOMIC VITALITY THROUGH HOMEOWNERSHIP.
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IRS990/OfficeExpensesGrp/ProgramServicesAmt08297
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt018974
IRS990/OtherEmployeeBenefitsGrp/TotalAmt022322
IRS990/OtherExpensesGrp/Desc0PROPERTY MANAGEMENT
IRS990/OtherExpensesGrp/Desc1BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3TAXES & LICENSES
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IRS990/OtherExpensesGrp/ProgramServicesAmt1142336
IRS990/OtherExpensesGrp/ProgramServicesAmt21535
IRS990/OtherExpensesGrp/ProgramServicesAmt3514
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,622,050
Liabilities
$6,134,562
Net assets
-$512,512
Revenue
$135,607
Expenses
$879,310
Net income
-$743,703
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.14$4.69$3.54$0.06$0.27$0.22
2023Detailed filing. Detailed filing data is available for this year.$1.15$4.47$3.32$0.25$0.47$0.21
2022Detailed filing. Detailed filing data is available for this year.$0.95$4.10$3.16$0.68$0.13$0.55
2021Detailed filing. Detailed filing data is available for this year.$1.40$5.10$3.70$0.07$0.15$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.78$5.45$3.68$2.75$0.38$2.36
2019Detailed filing. Detailed filing data is available for this year.$2.68$8.72$6.04$0.84$1.34$0.50
2018Detailed filing. Detailed filing data is available for this year.$8.00$7.87$0.12$1.59$0.94$0.65
2017Detailed filing. Detailed filing data is available for this year.$6.62$7.14$0.53$1.19$1.13$0.06
2016Detailed filing. Detailed filing data is available for this year.$5.62$6.13$0.51$0.14$0.88$0.74
2015Detailed filing. Detailed filing data is available for this year.$4.88$4.65$0.23$1.91$0.82$1.08
2014Detailed filing. Detailed filing data is available for this year.$2.00$2.92$0.92$0.62$0.61$1.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.75$2.45$0.30$0.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.22$2.33$1.89$0.49
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.88$6.50$2.38$0.58