Civic Intelligence

Cumberland Courts Inc

990 • Fiscal year 2016 • EIN 56-0810755

Jul 01, 2015 to Jun 30, 2016 • Filed on Aug 02, 2017

Organization ProfileN/A

View Organization Page

610 Bluford StreetGreensboro, NC 27401

(336) 378-1032

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$3,084,238

Down $7,910 (-0.3%) from 2015

Net Assets

Up

-$587,946

Up $39,572 (+6.3%) from 2015

Liabilities

Down

$3,672,184

Down $47,482 (-1.3%) from 2015

Revenue And Expenses

Revenue

Up

$39,572

Up $1,164,458 (+104%) from 2015

Expenses

Flat

$0

Flat from 2015

Net Income

Up

$39,572

Up $1,164,458 (+104%) from 2015

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $2,843,374Liabilities 2011: $2,325,721Net Assets 2011: $517,6532011Assets 2012: $2,776,414Liabilities 2012: $2,259,644Net Assets 2012: $516,7702012Assets 2013: $2,918,399Liabilities 2013: $2,249,719Net Assets 2013: $668,6802013Assets 2014: $4,266,160Liabilities 2014: $3,768,792Net Assets 2014: $497,3682014Assets 2015: $3,092,148Liabilities 2015: $3,719,666Net Assets 2015: -$627,5182015Assets 2016: $3,084,345Liabilities 2016: $3,670,120Net Assets 2016: -$585,7752016Assets 2016: $3,084,238Liabilities 2016: $3,672,184Net Assets 2016: -$587,9462016Assets 2017: $2,907,445Liabilities 2017: $3,631,077Net Assets 2017: -$723,6322017Assets 2018: $2,575,205Liabilities 2018: $3,546,540Net Assets 2018: -$971,3352018Assets 2019: $2,564,765Liabilities 2019: $3,475,360Net Assets 2019: -$910,5952019Assets 2020: $2,781,093Liabilities 2020: $3,888,403Net Assets 2020: -$1,107,3102020Assets 2021: $2,677,255Liabilities 2021: $3,837,075Net Assets 2021: -$1,159,8202021Assets 2022: $2,749,259Liabilities 2022: $3,827,800Net Assets 2022: -$1,078,5412022Assets 2023: $3,011,490Liabilities 2023: $4,384,780Net Assets 2023: -$1,373,2902023Assets 2024: $2,418,209Liabilities 2024: $4,277,987Net Assets 2024: -$1,859,7782024

Highlighted filing

2016

Assets$3,084,238
Liabilities$3,672,184
Net Assets-$587,946
Open 2016 Filing

Operations Trend

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2011: -$64,995Expenses 2011: $0Net Income 2011: -$64,9952011Expenses 2012: $02012Revenue 2013: $151,910Expenses 2013: $0Net Income 2013: $151,9102013Revenue 2014: -$171,312Expenses 2014: $0Net Income 2014: -$171,3122014Revenue 2015: -$1,124,886Expenses 2015: $0Net Income 2015: -$1,124,8862015Revenue 2016: $41,743Expenses 2016: $0Net Income 2016: $41,7432016Revenue 2016: $39,572Expenses 2016: $0Net Income 2016: $39,5722016Revenue 2017: $1,088,156Expenses 2017: $1,223,843Net Income 2017: -$135,6872017Revenue 2018: $1,098,327Expenses 2018: $1,346,030Net Income 2018: -$247,7032018Revenue 2019: $1,122,138Expenses 2019: $1,061,398Net Income 2019: $60,7402019Revenue 2020: $1,166,496Expenses 2020: $1,363,211Net Income 2020: -$196,7152020Revenue 2021: $1,153,308Expenses 2021: $1,205,818Net Income 2021: -$52,5102021Revenue 2022: $1,209,951Expenses 2022: $1,128,672Net Income 2022: $81,2792022Revenue 2023: $1,327,473Expenses 2023: $1,622,221Net Income 2023: -$294,7482023Revenue 2024: $1,371,976Expenses 2024: $1,858,464Net Income 2024: -$486,4882024

Highlighted filing

2016

Revenue$39,572
Expenses$0
Net Income$39,572
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Aug 2, 2017
Return Version
2015v3.0
Gross Receipts
$1,085,336
Mission and Program Overview

Mission

Supply affordable housing to the general public

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,615,737$2,536,189▼ $79,548
Cash and Non-Interest-Bearing Accounts$34,569$22,503▼ $12,066
Intangible Assets$10,308$7,882▼ $2,426
Accounts Receivable$12,541$2,740▼ $9,801
Prepaid Expenses and Deferred Charges$1,976$1,507▼ $469
Total Assets$3,092,148$3,084,238▼ $7,910
Other Assets Total$417,017$513,417▲ $96,400
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,646,278$3,593,766▼ $52,512
Other Liabilities$64,058$64,579▲ $521
Accounts Payable and Accrued Expenses$9,330$13,839▲ $4,509
Total Liabilities$3,719,666$3,672,184▼ $47,482
Net Assets / Fund Balance
Unrestricted Net Assets$-627,518$-587,946▲ $39,572
Total Net Assets Fund Balance$-627,518$-587,946▲ $39,572
Total Liabilities and Net Assets / Fund Balance$3,092,148$3,084,238▼ $7,910

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$359,047$19,423$378,470
Buildings$2,003,457$2,232,129-
Land$169,410--
Equipment$4,275$264,476-
Other Assets Org$37,979--
Compensation and Service Providers

Board Members and Trustees

NameTitle
John SmithPresident
Jeanne SmithSecretary
John SmithTreasurer
Barbara White-tateVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$245
Other Revenue
$39,327
Change in Net Assets
$39,572

Audited Revenue Reconciliation

Revenue per Audited Statements
$39,572
Total Revenue per Audited Statements
$39,572
Total Revenue per Form 990
$39,572
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits Held in Trust$37,903
Accrued Interest$16,576
Prepaid Rents$8,669
Accrued Taxes$1,431
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Day to day management of the organization is delegated to the management agent who answers to the board of directors.”

Form 990, Page 6, Part VI, Line 11B

“NO INFORMATION PROVIDED.”

Form 990, Page 6, Part VI, Line 12C

“Employees, board members and key employees are required to reveal any conflicts of interest involving the operation of the project immediately or at least annually during the audit for the previous year end.”

Form 990, Page 6, Part VI, Line 15A

“The board approves the management fee percentage on an annual basis”

Form 990, Page 6, Part VI, Line 15B

“Compensation for all employees is based on the market scale for the various levels of employment. This information is reviewed annually by the management agent. The officers and directors are not compensated by the organization.”

Form 990, Page 6, Part VI, Line 19

“Record disclosure is made available upon request by the public”

Filing and Contact Details

Filer

Filer Name
Cumberland Courts Inc
EIN
56-0810755
Phone
3363781032
Address
610 BLUFORD STREET, GREENSBORO, NC 27401

Signing Officer

Name
John Smith
Title
President
Phone
3363781032
Signed
2017-08-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Smith
Formed
1962
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
6

Preparer

Firm
Stewart & Satterfield Pa
Address
PO BOX 14893, GREENSBORO, NC 27415
Preparer
Robert a Stewart CPA
Phone
3362992854
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

“The reason for this amendment is that the office/telephone expense included on part viii line 6b was reduced by the amount of 7,829; the miscellaneous financial expense on part viii line 6b was increased by 10,000; the accounts receivable amount on part x line 4 column b was reduced by 107; the accounts payable and accrued expense amount on line 17 (b) was increased by 2,064. These adjustments were to correct the original information that was reported on the form 990. The information in part xii line 2a and 2b have been changed to reflect the proper information.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Part x, line 2: accouting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability (asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the taxing authorities. Management has analyzed tax positions taken by the organization and has concluded that as of june 30, 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (asset) or disclosure in the financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. Management believes it is no longer subject to income tax examinations for years prior to june 30, 2013.”

Raw XML Appendix314 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PART X, LINE 2: ACCOUTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2016, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2013.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE REASON FOR THIS AMENDMENT IS THAT THE OFFICE/TELEPHONE EXPENSE INCLUDED ON PART VIII LINE 6B WAS REDUCED BY THE AMOUNT OF 7,829; THE MISCELLANEOUS FINANCIAL EXPENSE ON PART VIII LINE 6B WAS INCREASED BY 10,000; THE ACCOUNTS RECEIVABLE AMOUNT ON PART X LINE 4 COLUMN B WAS REDUCED BY 107; THE ACCOUNTS PAYABLE AND ACCRUED EXPENSE AMOUNT ON LINE 17 (B) WAS INCREASED BY 2,064. THESE ADJUSTMENTS WERE TO CORRECT THE ORIGINAL INFORMATION THAT WAS REPORTED ON THE FORM 990. THE INFORMATION IN PART XII LINE 2A AND 2B HAVE BEEN CHANGED TO REFLECT THE PROPER INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DAY TO DAY MANAGEMENT OF THE ORGANIZATION IS DELEGATED TO THE MANAGEMENT AGENT WHO ANSWERS TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO INFORMATION PROVIDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EMPLOYEES, BOARD MEMBERS AND KEY EMPLOYEES ARE REQUIRED TO REVEAL ANY CONFLICTS OF INTEREST INVOLVING THE OPERATION OF THE PROJECT IMMEDIATELY OR AT LEAST ANNUALLY DURING THE AUDIT FOR THE PREVIOUS YEAR END.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD APPROVES THE MANAGEMENT FEE PERCENTAGE ON AN ANNUAL BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION FOR ALL EMPLOYEES IS BASED ON THE MARKET SCALE FOR THE VARIOUS LEVELS OF EMPLOYMENT. THIS INFORMATION IS REVIEWED ANNUALLY BY THE MANAGEMENT AGENT. THE OFFICERS AND DIRECTORS ARE NOT COMPENSATED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6RECORD DISCLOSURE IS MADE AVAILABLE UPON REQUEST BY THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03092148
IRS990/TotalAssetsEOYAmt03084238
IRS990/TotalAssetsGrp/BOYAmt03092148
IRS990/TotalAssetsGrp/EOYAmt03084238
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt00
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03719666
IRS990/TotalLiabilitiesEOYAmt03672184
IRS990/TotalLiabilitiesGrp/BOYAmt03719666
IRS990/TotalLiabilitiesGrp/EOYAmt03672184
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-627518
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-587946
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt039572
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt039572
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03092148
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03084238
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-627518
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-587946
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0610 BLUFORD ST
IRS990/USAddress/CityNm0GREENSBORO
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027401
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03363781032
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CUMBERLAND COURTS INC
ReturnHeader/Filer/BusinessNameControlTxt0CUMB
ReturnHeader/Filer/EIN0560810755
ReturnHeader/Filer/PhoneNum03363781032
ReturnHeader/Filer/USAddress/AddressLine1Txt0610 BLUFORD STREET
ReturnHeader/Filer/USAddress/CityNm0GREENSBORO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027401
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560955299
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STEWART & SATTERFIELD PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 14893
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENSBORO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027415
ReturnHeader/PreparerPersonGrp/PhoneNum03362992854
ReturnHeader/PreparerPersonGrp/PreparationDt02017-08-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT A STEWART CPA
ReturnHeader/ReturnTs02017-08-21T14:31:49-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,084,238
Liabilities
$3,672,184
Net assets
-$587,946
Revenue
$39,572
Expenses
$0
Net income
$39,572
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.42$4.28$1.86$1.37$1.86$0.49
2023Detailed filing. Detailed filing data is available for this year.$3.01$4.38$1.37$1.33$1.62$0.29
2022Detailed filing. Detailed filing data is available for this year.$2.75$3.83$1.08$1.21$1.13$0.08
2021Detailed filing. Detailed filing data is available for this year.$2.68$3.84$1.16$1.15$1.21$0.05
2020Detailed filing. Detailed filing data is available for this year.$2.78$3.89$1.11$1.17$1.36$0.20
2019Detailed filing. Detailed filing data is available for this year.$2.56$3.48$0.91$1.12$1.06$0.06
2018Detailed filing. Detailed filing data is available for this year.$2.58$3.55$0.97$1.10$1.35$0.25
2017Detailed filing. Detailed filing data is available for this year.$2.91$3.63$0.72$1.09$1.22$0.14
2016Detailed filing. Detailed filing data is available for this year.$3.08$3.67$0.59$0.04$0.00$0.04
2016Detailed filing. Detailed filing data is available for this year.$3.08$3.67$0.59$0.04$0.00$0.04
2015Detailed filing. Detailed filing data is available for this year.$3.09$3.72$0.63$1.12$0.00$1.12
2014Detailed filing. Detailed filing data is available for this year.$4.27$3.77$0.50$0.17$0.00$0.17
2013Summary only. Only limited summary data is available for this year.$2.92$2.25$0.67$0.15$0.00$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.78$2.26$0.52$0.00
2011Summary only. Only limited summary data is available for this year.$2.84$2.33$0.52$0.06$0.00$0.06