Civic Intelligence

Asmara Affordable Housing Inc

990 • Fiscal year 2015 • EIN 52-1928713

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 15, 2016

122 east 42nd street ste 3500 Suitnew york, NY 10168

(202) 789-5300

Siviq Scores

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

Liabilities / Assets

96th percentile

1.25x

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

90th percentile

2.76x

Higher debt load relative to revenue than 90% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

69th percentile

10%

Higher net margin than 69% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

93rd percentile

$679,817

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 10.0% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

35th percentile

-1.5%

Faster asset growth than 35% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

57th percentile

5.9%

Faster revenue growth than 57% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Down

$14,888,616

Down $226,631 (-1.5%) from 2014

Net Assets

Up

-$3,772,635

Up $691,301 (+15%) from 2014

Liabilities

Down

$18,661,251

Down $917,932 (-4.7%) from 2014

Revenue

Up

$6,768,581

Up $374,744 (+5.9%) from 2014

Expenses

Up

$6,077,280

Up $523,471 (+9.4%) from 2014

Net Income

Down

$691,301

Down $148,727 (-18%) from 2014

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2011: $16,522,904Liabilities 2011: $23,306,409Net Assets 2011: -$6,783,5022011Assets 2012: $15,993,263Liabilities 2012: $22,189,690Net Assets 2012: -$6,196,4272012Assets 2013: $15,373,217Liabilities 2013: $20,677,181Net Assets 2013: -$5,303,9642013Assets 2014: $15,115,247Liabilities 2014: $19,579,183Net Assets 2014: -$4,463,9362014Assets 2015: $14,888,616Liabilities 2015: $18,661,251Net Assets 2015: -$3,772,6352015Assets 2016: $13,972,264Liabilities 2016: $17,634,929Net Assets 2016: -$3,662,6652016Assets 2017: $1,527,342Liabilities 2017: $134,557Net Assets 2017: $1,392,7852017Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2015

Assets$14,888,616
Liabilities$18,661,251
Net Assets-$3,772,635

Operations Trend

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

$40M$30M$20M$10M$0-$10MRevenue 2011: $5,415,257Expenses 2011: $5,723,899Net Income 2011: -$308,6422011Revenue 2012: $5,830,822Expenses 2012: $5,243,747Net Income 2012: $587,0752012Revenue 2013: $6,152,792Expenses 2013: $5,260,329Net Income 2013: $892,4632013Revenue 2014: $6,393,837Expenses 2014: $5,553,809Net Income 2014: $840,0282014Revenue 2015: $6,768,581Expenses 2015: $6,077,280Net Income 2015: $691,3012015Revenue 2016: $7,204,325Expenses 2016: $7,094,355Net Income 2016: $109,9702016Revenue 2017: $38,969,695Expenses 2017: $33,914,245Net Income 2017: $5,055,4502017Revenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $0Expenses 2022: $0Net Income 2022: $02022Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023

Highlighted filing

2015

Revenue$6,768,581
Expenses$6,077,280
Net Income$691,301
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$6,768,581
Mission and Program Overview

Mission

To provide for the acquisition, development, ownership, and operation of affordable housing for low income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,636,410$11,133,641▼ $502,769
Savings and Temporary Cash Investments$2,224,687$2,105,170▼ $119,517
Cash and Non-Interest-Bearing Accounts$297,971$613,646▲ $315,675
Intangible Assets$614,623$551,633▼ $62,990
Accounts Receivable$15,493$201,892▲ $186,399
Prepaid Expenses and Deferred Charges$94,205$97,086▲ $2,881
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$15,115,247$14,888,616▼ $226,631
Other Assets Total$231,858$185,548▼ $46,310
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,200,000$17,710,000▼ $490,000
Other Liabilities$963,174$557,853▼ $405,321
Accounts Payable and Accrued Expenses$372,082$317,763▼ $54,319
Deferred Revenue$43,927$75,635▲ $31,708
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$19,579,183$18,661,251▼ $917,932
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-4,463,936$-3,772,635▲ $691,301
Total Net Assets Fund Balance$-4,463,936$-3,772,635▲ $691,301
Total Liabilities and Net Assets / Fund Balance$15,115,247$14,888,616▼ $226,631

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,579,256$13,060,913$21,640,169
Land$2,554,385-$2,554,385
Compensation and Service Providers

Board Members and Trustees

NameTitle
Richard Burnspresident
Fred C MitchellVice President
Joseph P WiedorferVice President
steve greenVice President
Thomas G VaccaroVICE PRESIDENT/secretary
Gary Parkinsontreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,768,127
Investment Income
$454
Other Revenue
$0
Change in Net Assets
$691,301

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,768,581
Total Revenue per Audited Statements
$6,768,581
Total Revenue per Form 990
$6,768,581
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,837,610
Salaries, Compensation, and Employee Benefits$1,239,670
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,068,916--$1,068,916
Office Expenses$948,401$37,623-$986,024
Depreciation Depletion$688,856--$688,856
Occupancy$626,505--$626,505
Insurance$275,043--$275,043
Fees for Services Management-$270,214-$270,214
Interest$158,329-$0$158,329
All Other Expenses-$135,107-$135,107
Fees for Services Legal-$133,919-$133,919
Other Employee Benefits$89,303--$89,303
Payroll Taxes$81,451--$81,451
Advertising-$75,410-$75,410
Other Expenses$36,803--$36,803
Total Functional Expenses$5,425,007$652,273$0$6,077,280

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,077,280
Total Expenses per Audited Statements$6,077,280
Total Expenses per Form 990$6,077,280
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Swap Liability$331,091
Tenant Security Dep. Liability$155,547
Deferred Revenue, Net of Curre$32,918
Accrued Interest Payable$23,774
Due to Affiliate$14,523
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Section A Question 11

THE BoarD reviews the form 990 and approves the form 990 on a phone call.

Part VI Section B Questions 12, 13, and 14

All policies are made at the nhp foundation level the organization supported by asmara affordable housing, inc. Asmara follows all of these policies as stated.

Part VI Sectiob B Question 15

All employees are compensated by the nhp foundation the organization supported by asmara affordable housing, inc.

Part VI Section C Question 19C

These documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Asmara Affordable Housing Inc
EIN
52-1928713
In Care Of
% THE LYND COMPANY
Phone
2027895300
Address
122 east 42nd street ste 3500 Suit, new york, NY 10168

Signing Officer

Name
Gary Parkinson
Title
Tmp
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
gary parkinson
Formed
1995
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
Cohnreznick Llp
Address
7501 WISCONSIN AVENUE 400E, BETHESDA, MD 20814-6583
Preparer
Anne Schrantz CPA
Phone
3016529100
Supplemental Narrative

Financial Statement Notes

fin 48

Income Taxes The Corporation has applied for and received a determination letter from the Internal Revenue Service (IRS) to be treated as a tax exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended December 31, 2015. Due to its tax exempt status, the Corporation is not subject to income taxes. The Corporation is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOSEPH P WIEDORFER

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