Civic Intelligence

Richcroft Inc.

990 • Fiscal year 2015 • EIN 52-1302331

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 23, 2015

11350 McCormick Road Exec Plaza IVHunt Valley, MD 21031

(410) 785-3274

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.74x

Higher debt load relative to assets than 83% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

66th percentile

0.60x

Higher debt load relative to revenue than 66% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

45th percentile

2.4%

Higher net margin than 45% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

46th percentile

$229,770

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

56th percentile

3.0%

Faster asset growth than 56% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

50th percentile

4.2%

Faster revenue growth than 50% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Assets

Up

$14,252,517

Up $410,926 (+3.0%) from 2014

Net Assets

Up

$3,690,333

Up $414,860 (+13%) from 2014

Liabilities

Down

$10,562,184

Down $3,934 (-0.0%) from 2014

Revenue

Up

$17,678,074

Up $716,625 (+4.2%) from 2014

Expenses

Up

$17,249,588

Up $599,863 (+3.6%) from 2014

Net Income

Up

$428,486

Up $116,762 (+37%) from 2014

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $12,797,019Liabilities 2010: $11,031,711Net Assets 2010: $1,765,3082010Assets 2011: $14,148,502Liabilities 2011: $11,966,131Net Assets 2011: $2,182,3712011Assets 2012: $15,681,483Liabilities 2012: $13,179,371Net Assets 2012: $2,502,1122012Assets 2013: $13,207,705Liabilities 2013: $10,233,289Net Assets 2013: $2,974,4162013Assets 2014: $13,841,591Liabilities 2014: $10,566,118Net Assets 2014: $3,275,4732014Assets 2015: $14,252,517Liabilities 2015: $10,562,184Net Assets 2015: $3,690,3332015Assets 2016: $14,889,152Liabilities 2016: $11,244,164Net Assets 2016: $3,644,9882016Assets 2017: $15,820,635Liabilities 2017: $11,821,810Net Assets 2017: $3,998,8252017Assets 2018: $16,031,233Liabilities 2018: $11,810,296Net Assets 2018: $4,220,9372018Assets 2019: $16,980,803Liabilities 2019: $12,549,365Net Assets 2019: $4,431,4382019Assets 2020: $19,470,266Liabilities 2020: $14,188,715Net Assets 2020: $5,281,5512020Assets 2021: $24,061,054Liabilities 2021: $13,807,565Net Assets 2021: $10,253,4892021Assets 2022: $21,664,023Liabilities 2022: $11,663,434Net Assets 2022: $10,000,5892022Assets 2023: $22,393,362Liabilities 2023: $10,724,433Net Assets 2023: $11,668,9292023Assets 2024: $25,037,314Liabilities 2024: $10,188,254Net Assets 2024: $14,849,0602024

Highlighted filing

2015

Assets$14,252,517
Liabilities$10,562,184
Net Assets$3,690,333

Operations Trend

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

$40M$30M$20M$10M$0Expenses 2010: $11,037,1832010Expenses 2011: $11,719,6662011Expenses 2012: $13,349,8082012Expenses 2013: $15,101,5442013Revenue 2014: $16,961,449Expenses 2014: $16,649,725Net Income 2014: $311,7242014Revenue 2015: $17,678,074Expenses 2015: $17,249,588Net Income 2015: $428,4862015Revenue 2016: $17,945,416Expenses 2016: $17,920,915Net Income 2016: $24,5012016Revenue 2017: $17,906,494Expenses 2017: $17,542,593Net Income 2017: $363,9012017Revenue 2018: $17,949,563Expenses 2018: $17,695,604Net Income 2018: $253,9592018Revenue 2019: $18,433,442Expenses 2019: $18,192,793Net Income 2019: $240,6492019Revenue 2020: $20,051,386Expenses 2020: $19,166,688Net Income 2020: $884,6982020Revenue 2021: $26,061,033Expenses 2021: $21,167,743Net Income 2021: $4,893,2902021Revenue 2022: $27,238,317Expenses 2022: $23,367,716Net Income 2022: $3,870,6012022Revenue 2023: $30,024,445Expenses 2023: $27,266,684Net Income 2023: $2,757,7612023Revenue 2024: $36,460,735Expenses 2024: $32,626,766Net Income 2024: $3,833,9692024

Highlighted filing

2015

Revenue$17,678,074
Expenses$17,249,588
Net Income$428,486
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 23, 2015
Return Version
2014v5.0
Gross Receipts
$30,535,891
Mission and Program Overview

Mission

It is the mission of Richcroft, Inc. to create opportunities for people with intellectual and other developmental disabilities to make choices that will assist them in living full and productive lives. To that end, Richcroft, Inc. provides residential and other support services to people in Howard, Harford, Baltimore and Carroll Counties.

Since 1983, Richcroft, Inc., a private not-for-profit corporation has been providing community living opportunities and support services to men and women with intellectual and other developmental disabilities in Howard, Harford, Baltimore and Carroll Counties. with a focus on individual choice, control and satisfaction that will assist them in living full and productive lives thru supported living, respite care and family/individual support services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,546,710$9,544,690▼ $2,020
Investments in Publicly Traded Securities$2,486,375$2,922,661▲ $436,286
Cash and Non-Interest-Bearing Accounts$284,049$779,146▲ $495,097
Accounts Receivable$888,840$347,584▼ $541,256
Prepaid Expenses and Deferred Charges$334,755$344,446▲ $9,691
Intangible Assets$139,554$129,932▼ $9,622
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-
Inventories for Sale or Use-$0-
Total Assets$13,841,591$14,252,517▲ $410,926
Other Assets Total$161,308$184,058▲ $22,750
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,199,466$9,133,323▼ $66,143
Accounts Payable and Accrued Expenses$1,168,931$1,197,175▲ $28,244
Other Liabilities$197,277$231,686▲ $34,409
Deferred Revenue$444--
Total Liabilities$10,566,118$10,562,184▼ $3,934
Net Assets / Fund Balance
Unrestricted Net Assets$3,138,849$3,559,707▲ $420,858
Temporarily Rstr Net Assets$136,624$130,626▼ $5,998
Total Net Assets Fund Balance$3,275,473$3,690,333▲ $414,860
Total Liabilities and Net Assets / Fund Balance$13,841,591$14,252,517▲ $410,926

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,422,983$4,638,807$11,061,790
Land$2,852,030-$2,852,030
Equipment$103,365$834,854$938,219
Other Land Buildings$149,082$666,140$815,222
Leasehold Improvements$17,230$23,797$41,027

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$136,624-▼ $5,998-$130,626
2013$111,567-▲ $25,057-$136,624
2012$103,175-▲ $8,392-$111,567
2011$104,150-▼ $975-$103,175
2010$87,643-▲ $16,507-$104,150
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David D CoughlinExecutive DirecFT$190,918$38,852$229,770
Michael HargestControllerFT$110,724$12,057$122,781

Board Members and Trustees

NameTitle
Wendy Cohen-holbrookChair Person
Betty Sue WieberDirector
Hfranklin Tapscott JrDirector
Jim WerkingDirector
John MyersDirector
John NietubiczDirector
Linda DigeorgeDirector
Andrew CoochSecretary
Jimmie NobleTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Bdg DesignDesign600 WASHINGTON AVE, Towson, MD 21204$1,062,069
Macs SigWorkers Comp Ins51 KENSINGTON PKWY, Abingdon, MD 21009$337,088
Hill ManagementLessorPO BOX 4835, Timonium, MD 21094$232,205
Dimensional HealthcareNursing Services10811 Red Run Blvd, Owings Mills, MD 21117$229,137
Selective InsuranceInsurancePO BOX 371468, Pittsburgh, PA 15250$117,327
Revenue and Support

Revenue Composition

Contributions and Grants
$34,849
Program Service Revenue
$17,536,019
Investment Income
$85,752
Other Revenue
$21,454
All Other Contributions
$34,849
Change in Net Assets
$428,486

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,678,074
Revenue Not Reported on Form 990
$-13,626
Total Revenue per Audited Statements
$17,664,448
Total Revenue per Form 990
$17,678,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,573,656
Other Expenses$4,675,932
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$9,889,544$787,287-$10,676,831
Other Employee Benefits$713,338$83,888-$797,226
Payroll Taxes$720,955$69,221-$790,176
Occupancy$532,929$218,981-$751,910
Depreciation Depletion$541,109$39,680-$580,789
Insurance$364,966$75,710-$440,676
All Other Expenses$223,520$162,944-$386,464
Interest$354,950$638-$355,588
Other Expenses$286,165$34,639-$320,804
Current Officers, Directors, Trustees, and Key Employees-$229,770-$229,770
Office Expenses$120,538$24,335-$144,873
Travel$100,701$10,003-$110,704
Pension Plan Contributions$78,053$1,600-$79,653
Conferences and Meetings$11,619$43,381-$55,000
Fees for Services Other$8,234$35,041-$43,275
Advertising$42,882--$42,882
Fees for Services Accounting-$31,520-$31,520
Fees for Services Legal-$330-$330
Total Functional Expenses$15,340,360$1,909,228$0$17,249,588

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$17,249,588
Total Expenses per Audited Statements$17,249,588
Total Expenses per Form 990$17,249,588
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
Client Funds$184,058
Accrued Rent Payable$47,628
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The Form 990 is reviewed by Management and the Board of Directors prior to filing with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Officers, directors and key employees are required to disclose annually in writing, any interests that could give rise to conflicts.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Compensation review and approval done by compensation survey and board approval.

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

Documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Richcroft Inc
EIN
52-1302331
Phone
4107853274
Address
11350 McCormick Road Exec Plaza IV, HUNT VALLEY, MD 21031

Signing Officer

Name
David D Coughlin
Title
Executive Director
Signed
2015-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David D Coughlin
Formed
1983
Legal Domicile
Md
Voting Board Members
9
Independent Board Members
9
Employees
638

Preparer

Firm
Schiavi Wallace & Rowe PC
Address
606 Providence Road, Towson, MD 21286
Preparer
Linda Rajewski CPA
Phone
4104949517
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

The funds of the Chapin Davis Securities Neiswender Fund are designated by the Board of Directors for the benefit of the individuals served by Richcroft, Inc.

Part X : FIN48 Footnote

Income TaxesThe Corporation is a not-for-profit, tax exempt organization as defined by Section 501(c)(3) of the Internal Revenue Code. The Income Taxes topic of FASB ASC 740-10 clarifies the accounting for income taxes by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. This topic has no material impact on the financial statements.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$25.0$10.2$14.8$36.5$32.6$3.83
2023Detailed filing. Detailed filing data is available for this year.$22.4$10.7$11.7$30.0$27.3$2.76
2022Detailed filing. Detailed filing data is available for this year.$21.7$11.7$10.0$27.2$23.4$3.87
2021Detailed filing. Detailed filing data is available for this year.$24.1$13.8$10.3$26.1$21.2$4.89
2020Detailed filing. Detailed filing data is available for this year.$19.5$14.2$5.28$20.1$19.2$0.88
2019Detailed filing. Detailed filing data is available for this year.$17.0$12.5$4.43$18.4$18.2$0.24
2018Detailed filing. Detailed filing data is available for this year.$16.0$11.8$4.22$17.9$17.7$0.25
2017Detailed filing. Detailed filing data is available for this year.$15.8$11.8$4.00$17.9$17.5$0.36
2016Detailed filing. Detailed filing data is available for this year.$14.9$11.2$3.64$17.9$17.9$0.02
2015Detailed filing. Detailed filing data is available for this year.$14.3$10.6$3.69$17.7$17.2$0.43
2014Detailed filing. Detailed filing data is available for this year.$13.8$10.6$3.28$17.0$16.6$0.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.2$10.2$2.97$15.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.7$13.2$2.50$13.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.1$12.0$2.18$11.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.8$11.0$1.77$11.0