Civic Intelligence

Lee Gardens Housing Corporation

990 • Fiscal year 2015 • EIN 54-1516042

Jan 01, 2015 to Dec 31, 2015 • Filed on Oct 07, 2016

2230 North Fairfax Drive No 100Arlington, VA 22201

(703) 486-0626

Siviq Scores

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

Liabilities / Assets

86th percentile

0.82x

Higher debt load relative to assets than 86% of similar nonprofits.

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

Liabilities / Revenue

97th percentile

13.33x

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

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

Net Margin

1st percentile

-217%

Higher net margin than 1% of similar nonprofits.

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

Top Officer Pay

89th percentile

$468,040

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 32.3% of source-year revenue.

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

Asset Growth

5th percentile

-17%

Faster asset growth than 5% of similar nonprofits.

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

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

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

Assets

Down

$23,693,735

Down $4,882,991 (-17%) from 2014

Net Assets

Down

$4,351,715

Down $3,152,383 (-42%) from 2014

Liabilities

Down

$19,342,020

Down $1,730,608 (-8.2%) from 2014

Revenue

Down

$1,451,117

Down $24,646,213 (-94%) from 2014

Expenses

Down

$4,603,500

Down $9,226,119 (-67%) from 2014

Net Income

Down

-$3,152,383

Down $15,420,094 (-126%) from 2014

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2011: $20,841,764Liabilities 2011: $25,834,401Net Assets 2011: -$4,992,6372011Assets 2012: $21,275,399Liabilities 2012: $26,381,691Net Assets 2012: -$5,106,2922012Assets 2013: $21,172,452Liabilities 2013: $25,936,065Net Assets 2013: -$4,763,6132013Assets 2014: $28,576,726Liabilities 2014: $21,072,628Net Assets 2014: $7,504,0982014Assets 2015: $23,693,735Liabilities 2015: $19,342,020Net Assets 2015: $4,351,7152015Assets 2016: $24,776,732Liabilities 2016: $19,342,019Net Assets 2016: $5,434,7132016Assets 2017: $25,912,854Liabilities 2017: $19,342,019Net Assets 2017: $6,570,8352017Assets 2018: $27,101,235Liabilities 2018: $19,342,019Net Assets 2018: $7,759,2162018Assets 2019: $27,716,346Liabilities 2019: $19,344,712Net Assets 2019: $8,371,6342019Assets 2020: $27,590,263Liabilities 2020: $19,344,712Net Assets 2020: $8,245,5512020Assets 2021: $33,404,956Liabilities 2021: $23,713,754Net Assets 2021: $9,691,2022021Assets 2022: $40,000,237Liabilities 2022: $23,700,281Net Assets 2022: $16,299,9562022Assets 2023: $40,862,988Liabilities 2023: $23,070,566Net Assets 2023: $17,792,4222023Assets 2024: $41,308,697Liabilities 2024: $22,622,109Net Assets 2024: $18,686,5882024

Highlighted filing

2015

Assets$23,693,735
Liabilities$19,342,020
Net Assets$4,351,715

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2011: $5,880,837Expenses 2011: $5,184,837Net Income 2011: $696,0002011Expenses 2012: $6,069,6002012Revenue 2013: $6,131,408Expenses 2013: $5,789,711Net Income 2013: $341,6972013Revenue 2014: $26,097,330Expenses 2014: $13,829,619Net Income 2014: $12,267,7112014Revenue 2015: $1,451,117Expenses 2015: $4,603,500Net Income 2015: -$3,152,3832015Revenue 2016: $1,425,912Expenses 2016: $342,914Net Income 2016: $1,082,9982016Revenue 2017: $1,495,687Expenses 2017: $359,565Net Income 2017: $1,136,1222017Revenue 2018: $1,558,515Expenses 2018: $370,133Net Income 2018: $1,188,3822018Revenue 2019: $1,633,408Expenses 2019: $1,020,990Net Income 2019: $612,4182019Revenue 2020: $1,638,037Expenses 2020: $1,764,120Net Income 2020: -$126,0832020Revenue 2021: $2,498,487Expenses 2021: $2,196,925Net Income 2021: $301,5622021Revenue 2022: $2,872,714Expenses 2022: $2,324,674Net Income 2022: $548,0402022Revenue 2023: $2,944,714Expenses 2023: $1,455,542Net Income 2023: $1,489,1722023Revenue 2024: $3,041,267Expenses 2024: $2,149,157Net Income 2024: $892,1102024

Highlighted filing

2015

Revenue$1,451,117
Expenses$4,603,500
Net Income-$3,152,383
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Oct 7, 2016
Return Version
2015v2.1
Gross Receipts
$1,451,117
Mission and Program Overview

Mission

To assist in the operations of decent, safe, affordable housing for low-income persons.

To assist in the operations of decent, safe, affordable housing for low income persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$22,573,726$23,615,278▲ $1,041,552
Accounts Receivable$535,329$0▼ $535,329
Cash and Non-Interest-Bearing Accounts$5,092,627$6▼ $5,092,621
Total Assets$28,576,726$23,693,735▼ $4,882,991
Other Assets Total$375,044$78,451▼ $296,593
Liabilities
Deferred Revenue$19,342,020$19,342,020→ $0
Other Liabilities$1,538,157$0▼ $1,538,157
Accounts Payable and Accrued Expenses$192,451$0▼ $192,451
Total Liabilities$21,072,628$19,342,020▼ $1,730,608
Net Assets / Fund Balance
Unrestricted Net Assets$7,504,098$4,351,715▼ $3,152,383
Total Net Assets Fund Balance$7,504,098$4,351,715▼ $3,152,383
Total Liabilities and Net Assets / Fund Balance$28,576,726$23,693,735▼ $4,882,991
Compensation and Service Providers

Board Members and Trustees

NameTitle
Walter WebdalePresident
Stephen SmithSenior Vice President
John WelshVice President, Multifamil
Steve YeatmanCFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Busy Ditch INCCivil Engineering Contractor7840 CESSNA AVENUE UNIT C, Gaithersburg, MD 20879$225,876
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,450,361
Investment Income
$756
Other Revenue
$0
Change in Net Assets
$-3,152,383
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,034,500
Other Expenses$569,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,034,500--$4,034,500
Occupancy$233,142--$233,142
Other Expenses$4,001--$4,001
Fees for Services Accounting-$1,500-$1,500
Total Functional Expenses$4,602,000$1,500$0$4,603,500
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ahc IncArlington, VA501(c)(3)To Provide Support for Continuing Operations$4,034,500
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

In accordance with the bylaws and articles of incorporation of lee gardens housing corporation, the directors shall be elected annually by the board of directors of ahc, inc., a related party.

Form 990, Part VI, Section B, Line 11

The board reviews the form 990 and approves the form 990.

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

There is an annual acknowledgement of policy and vendor management process.

Form 990, Part VI, Section C, Line 19

These documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Lee Gardens Housing Corporation
EIN
54-1516042
Phone
7034860626
Address
2230 NORTH FAIRFAX DRIVE NO 100, ARLINGTON, VA 22201

Signing Officer

Name
Steve Yeatman
Title
CFO
Phone
7034860626
Signed
2016-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Yeatman
Formed
1987
Legal Domicile
Va
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Hertzbach & Company Pa
Address
800 RED BROOK BLVD SUITE 300, OWINGS MILLS, MD 21117
Preparer
Jeffrey M Kleeman
Phone
4103633200
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Raw XML AppendixShowing 400 of 1,206 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO PROVIDE SUPPORT FOR CONTINUING OPERATIONS
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IRS990ScheduleI/RecipientTable/RecipientEIN0541026365
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02230 NORTH FAIRFAX DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ARLINGTON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0VA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd022201
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
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IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt214270
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt314269
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEPHEN SMITH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1WALTER WEBDALE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2STEVE YEATMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3JOHN WELSH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SENIOR VICE PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3VICE PRESIDENT, MULTIFAMIL
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3250626
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN ACCORDANCE WITH THE BYLAWS AND ARTICLES OF INCORPORATION OF LEE GARDENS HOUSING CORPORATION, THE DIRECTORS SHALL BE ELECTED ANNUALLY BY THE BOARD OF DIRECTORS OF AHC, INC., A RELATED PARTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS THE FORM 990 AND APPROVES THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE IS AN ANNUAL ACKNOWLEDGEMENT OF POLICY AND VENDOR MANAGEMENT PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd20
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd50
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd90
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd250
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd300
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd360
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd5N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd6N/A

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.3$22.6$18.7$3.04$2.15$0.89
2023Detailed filing. Detailed filing data is available for this year.$40.9$23.1$17.8$2.94$1.46$1.49
2022Detailed filing. Detailed filing data is available for this year.$40.0$23.7$16.3$2.87$2.32$0.55
2021Detailed filing. Detailed filing data is available for this year.$33.4$23.7$9.69$2.50$2.20$0.30
2020Detailed filing. Detailed filing data is available for this year.$27.6$19.3$8.25$1.64$1.76$0.13
2019Detailed filing. Detailed filing data is available for this year.$27.7$19.3$8.37$1.63$1.02$0.61
2018Detailed filing. Detailed filing data is available for this year.$27.1$19.3$7.76$1.56$0.37$1.19
2017Detailed filing. Detailed filing data is available for this year.$25.9$19.3$6.57$1.50$0.36$1.14
2016Detailed filing. Detailed filing data is available for this year.$24.8$19.3$5.43$1.43$0.34$1.08
2015Detailed filing. Detailed filing data is available for this year.$23.7$19.3$4.35$1.45$4.60$3.15
2014Detailed filing. Detailed filing data is available for this year.$28.6$21.1$7.50$26.1$13.8$12.3
2013Detailed filing. Detailed filing data is available for this year.$21.2$25.9$4.76$6.13$5.79$0.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.3$26.4$5.11$6.07
2011Summary only. Only limited summary data is available for this year.$20.8$25.8$4.99$5.88$5.18$0.70
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