Civic Intelligence

Nbc USA Housing Inc Twenty Four

EIN 52-1639996 • 501(c)3 • New Orleans, LA

Profile

The organizations only program is to provide elderly and low income housing to those who meet the qualifying standards.

1214 So Robertson StNew Orleans, LA 70113
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.49x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

5.78x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

23rd percentile

-8.7%

Higher net margin than 23% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

32nd percentile

-2.1%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

72nd percentile

26%

Faster revenue growth than 72% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$1,841,262

Down $40,370 (-2.1%) from 2021

Liabilities

Up

$2,738,016

Up $623 (+0.0%) from 2021

Net Assets

Down

-$896,754

Down $40,993 (-4.8%) from 2021

Operations
Liabilities / Revenue97th percentileNet Margin23rd percentile

Revenue

Up

$473,478

Up $97,965 (+26%) from 2021

Expenses

Up

$514,471

Up $60,480 (+13%) from 2021

Net Income

Up

-$40,993

Up $37,485 (+48%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth32nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $1,692,205Liabilities 2011: $2,049,234Net Assets 2011: -$357,0292011Assets 2012: $1,715,305Liabilities 2012: $1,997,581Net Assets 2012: -$282,2762012Assets 2013: $1,781,920Liabilities 2013: $1,996,612Net Assets 2013: -$214,6922013Assets 2014: $1,822,702Liabilities 2014: $1,998,166Net Assets 2014: -$175,4642014Assets 2015: $1,858,215Liabilities 2015: $1,989,404Net Assets 2015: -$131,1892015Assets 2016: $1,867,927Liabilities 2016: $1,994,041Net Assets 2016: -$126,1142016Assets 2017: $1,981,290Liabilities 2017: $2,125,310Net Assets 2017: -$144,0202017Assets 2018: $1,964,525Liabilities 2018: $2,125,034Net Assets 2018: -$160,5092018Assets 2019: $1,945,115Liabilities 2019: $2,128,361Net Assets 2019: -$183,2462019Assets 2020: $1,946,007Liabilities 2020: $2,137,090Net Assets 2020: -$191,0832020Assets 2021: $1,881,632Liabilities 2021: $2,737,393Net Assets 2021: -$855,7612021Assets 2022: $1,841,262Liabilities 2022: $2,738,016Net Assets 2022: -$896,7542022

Highlighted filing

2022

Assets$1,841,262
Liabilities$2,738,016
Net Assets-$896,754
Open 2022 Filing

Operations Trend

Revenue Growth72nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $389,783Expenses 2011: $363,995Net Income 2011: $25,7882011Revenue 2012: $388,762Expenses 2012: $314,009Net Income 2012: $74,7532012Revenue 2013: $388,733Expenses 2013: $321,149Net Income 2013: $67,5842013Revenue 2014: $388,478Expenses 2014: $349,250Net Income 2014: $39,2282014Revenue 2015: $389,008Expenses 2015: $344,733Net Income 2015: $44,2752015Revenue 2016: $385,283Expenses 2016: $380,208Net Income 2016: $5,0752016Revenue 2017: $372,948Expenses 2017: $390,854Net Income 2017: -$17,9062017Revenue 2018: $378,082Expenses 2018: $394,571Net Income 2018: -$16,4892018Revenue 2019: $380,180Expenses 2019: $402,917Net Income 2019: -$22,7372019Revenue 2020: $388,369Expenses 2020: $396,206Net Income 2020: -$7,8372020Revenue 2021: $375,513Expenses 2021: $453,991Net Income 2021: -$78,4782021Revenue 2022: $473,478Expenses 2022: $514,471Net Income 2022: -$40,9932022

Highlighted filing

2022

Revenue$473,478
Expenses$514,471
Net Income-$40,993
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,841,262
Liabilities
$2,738,016
Net assets
-$896,754
Revenue
$473,478
Expenses
$514,471
Net income
-$40,993
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$1.84$2.74$0.90$0.47$0.51$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.88$2.74$0.86$0.38$0.45$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.95$2.14$0.19$0.39$0.40$0.01
2019Summary only. Only limited summary data is available for this year.$1.95$2.13$0.18$0.38$0.40$0.02
2018Summary only. Only limited summary data is available for this year.$1.96$2.13$0.16$0.38$0.39$0.02
2017Summary only. Only limited summary data is available for this year.$1.98$2.13$0.14$0.37$0.39$0.02
2016Summary only. Only limited summary data is available for this year.$1.87$1.99$0.13$0.39$0.38$0.01
2015Summary only. Only limited summary data is available for this year.$1.86$1.99$0.13$0.39$0.34$0.04
2014Summary only. Only limited summary data is available for this year.$1.82$2.00$0.18$0.39$0.35$0.04
2013Summary only. Only limited summary data is available for this year.$1.78$2.00$0.21$0.39$0.32$0.07
2012Summary only. Only limited summary data is available for this year.$1.72$2.00$0.28$0.39$0.31$0.07
2011Summary only. Only limited summary data is available for this year.$1.69$2.05$0.36$0.39$0.36$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$473,478
Mission and Program Overview

Mission

The organizations only program is to provide elderly and low income housing to those who meet the qualifying standards.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$911,930$900,679▼ $11,251
Cash and Non-Interest-Bearing Accounts$27,682$58,432▲ $30,750
Accounts Receivable$10,373$13,799▲ $3,426
Prepaid Expenses and Deferred Charges$6,292$6,426▲ $134
Total Assets$1,881,632$1,841,262▼ $40,370
Other Assets Total$925,355$861,926▼ $63,429
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,100,800$2,100,800→ $0
Other Liabilities$597,130$596,470▼ $660
Accounts Payable and Accrued Expenses$33,565$38,077▲ $4,512
Deferred Revenue$5,898$2,669▼ $3,229
Total Liabilities$2,737,393$2,738,016▲ $623
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-855,761$-896,754▼ $40,993
Total Net Assets Fund Balance$-855,761$-896,754▼ $40,993
Total Liabilities and Net Assets / Fund Balance$1,881,632$1,841,262▼ $40,370

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$866,049$1,676,140$69,646
Other Land Buildings$19,316$32,665$51,981
Equipment-$2,562$2,562
Land$18,000--
Leasehold Improvements$-2,686$2,686-
Other Assets Org$19,449--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Dr Carl P SmallVice President
Clifford TurnerBoard Member
Dr Charles SouthallBoard Member
Dr Michael NobleBoard Member
Rev Cory PruittBoard Member
Rev Eric JacksonBoard Member
Dr Johnny HamptonSecretary
Keith B CorbettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$385,987
Investment Income
$0
Other Revenue
$87,491
Change in Net Assets
$-40,993

Audited Revenue Reconciliation

Revenue per Audited Statements
$473,478
Total Revenue per Audited Statements
$473,478
Total Revenue per Form 990
$473,478
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$353,616
Salaries, Compensation, and Employee Benefits$160,855
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$121,103--$121,103
Depreciation Depletion$80,897--$80,897
Fees for Services Management-$29,813-$29,813
Other Employee Benefits$22,598--$22,598
Insurance$18,324--$18,324
Payroll Taxes$17,154--$17,154
Other Expenses$5,813--$5,813
Office Expenses-$5,493-$5,493
Advertising$149--$149
Total Functional Expenses$479,165$35,306$0$514,471

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$514,471
Total Expenses per Audited Statements$514,471
Total Expenses per Form 990$514,471
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
DUE TO HUD- Excess Residual Receipt$586,200
Tenant Security Deposits Contra$10,270
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
Yes
Other officer compensation reviewed
Yes
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 general board is presented the IRS Form 990 for review. Upon approval by the Board Chairman, it is submitted for electronic filing.”

Conflict of interest policy compliance Part VI line 12C

“The Board regularly and consistently monitors the conflict of interest policy on an annual basis to determine if updates are warranted. Additionally, the conflict of interst policy was also enforced when necessary.”

CEO executive director top management comp Part VI line 15A

“Salary increases go before the Board. No salary increases are done without Board approval.”

Other officer or key employee compensation Part VI line 15B

“Salary increases go before the Board. No salary increases are done without Board approval.”

Governing documents etc available to public Part VI line 19

“This is a national organization. All financial statements and tax returns are made available to the public upon request by the Board Chairmans office.”

Filing and Contact Details

Filer

Filer Name
Nbc USA Housing Inc Twenty Four
EIN
52-1639996
Address
1214 SO ROBERTSON ST, New Orleans, LA 70113
Doing Business As
Capitol Commons

Signing Officer

Name
Dr Willie Gable
Title
Board President
Phone
5045245471
Signed
2023-05-15
Discuss with paid preparer
No

Organization Details

Formed
1992
Legal Domicile
La
Voting Board Members
11
Independent Board Members
11
Employees
4

Preparer

Firm
Wharton CPA LLC
Address
220 Decatur Street Suite 406, New Orleans, LA 70113
Preparer
Brendel Wharton Joseph
Phone
5044019581
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“According to the Consolidated Appropriations Act, 2017, owners with projects subject to a Section 202 or 811 Project Rental Assistanc Contract (PRAC) are required to remit any excess balance in Residual Receipts account, greater than $250 per unit, upon termination or renewal of the PRAC contract. As of December 31, 2021, a total of $586,200 must be remitted to HUD.”

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENT
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESIDUAL RECEIPTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANT SECURITY DEPOSITS HELD IN TR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The general board is presented the IRS Form 990 for review. Upon approval by the Board Chairman, it is submitted for electronic filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board regularly and consistently monitors the conflict of interest policy on an annual basis to determine if updates are warranted. Additionally, the conflict of interst policy was also enforced when necessary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Salary increases go before the Board. No salary increases are done without Board approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Salary increases go before the Board. No salary increases are done without Board approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4This is a national organization. All financial statements and tax returns are made available to the public upon request by the Board Chairmans office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5According to the Consolidated Appropriations Act, 2017, owners with projects subject to a Section 202 or 811 Project Rental Assistanc Contract (PRAC) are required to remit any excess balance in Residual Receipts account, greater than $250 per unit, upon termination or renewal of the PRAC contract. As of December 31, 2021, a total of $586,200 must be remitted to HUD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Dr Willie Gable
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board President

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