Civic Intelligence

Lumber River Housing Development Incorporated

990 • Fiscal year 2016 • EIN 56-0988617

Oct 01, 2015 to Sep 30, 2016 • Filed on Dec 16, 2016

1000 Parkview DriveLumberton, NC 28359

(919) 836-8888

Siviq Scores

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

Liabilities / Assets

76th percentile

1.31x

Higher debt load relative to assets than 76% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

52nd percentile

1.86x

Higher debt load relative to revenue than 52% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Source year 2016

Net Margin

61st percentile

0.7%

Higher net margin than 61% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

2016 filings • NTEE L • $500k-$1M nonprofits • Source year 2016

Asset Growth

68th percentile

0.1%

Faster asset growth than 68% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

59th percentile

2.4%

Faster revenue growth than 59% of similar nonprofits.

2016 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Up

$976,960

Up $1,008 (+0.1%) from 2015

Net Assets

Up

-$301,033

Up $4,466 (+1.5%) from 2015

Liabilities

Down

$1,277,993

Down $3,458 (-0.3%) from 2015

Revenue

Up

$686,659

Up $16,290 (+2.4%) from 2015

Expenses

Up

$682,193

Up $11,137 (+1.7%) from 2015

Net Income

Up

$4,466

Up $5,153 (+750%) from 2015

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $991,969Liabilities 2011: $1,324,377Net Assets 2011: -$332,4082011Assets 2012: $986,120Liabilities 2012: $1,316,910Net Assets 2012: -$330,7902012Assets 2013: $993,966Liabilities 2013: $1,305,889Net Assets 2013: -$311,9232013Assets 2014: $966,382Liabilities 2014: $1,271,194Net Assets 2014: -$304,8122014Assets 2015: $975,952Liabilities 2015: $1,281,451Net Assets 2015: -$305,4992015Assets 2016: $976,960Liabilities 2016: $1,277,993Net Assets 2016: -$301,0332016Assets 2017: $981,530Liabilities 2017: $1,313,323Net Assets 2017: -$331,7932017Assets 2018: $1,010,667Liabilities 2018: $1,351,533Net Assets 2018: -$340,8662018Assets 2019: $914,495Liabilities 2019: $1,345,844Net Assets 2019: -$431,3492019Assets 2020: $926,437Liabilities 2020: $1,311,540Net Assets 2020: -$385,1032020Assets 2021: $950,525Liabilities 2021: $1,303,627Net Assets 2021: -$353,1022021Assets 2022: $965,652Liabilities 2022: $1,306,014Net Assets 2022: -$340,3622022Assets 2023: $1,082,450Liabilities 2023: $1,267,929Net Assets 2023: -$185,4792023Assets 2024: $1,178,667Liabilities 2024: $1,256,374Net Assets 2024: -$77,7072024

Highlighted filing

2016

Assets$976,960
Liabilities$1,277,993
Net Assets-$301,033

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $620,920Expenses 2011: $635,287Net Income 2011: -$14,3672011Expenses 2012: $633,1552012Expenses 2013: $627,4852013Revenue 2014: $656,870Expenses 2014: $649,759Net Income 2014: $7,1112014Revenue 2015: $670,369Expenses 2015: $671,056Net Income 2015: -$6872015Revenue 2016: $686,659Expenses 2016: $682,193Net Income 2016: $4,4662016Revenue 2017: $834,805Expenses 2017: $865,704Net Income 2017: -$30,8992017Revenue 2018: $714,336Expenses 2018: $723,409Net Income 2018: -$9,0732018Revenue 2019: $711,330Expenses 2019: $801,813Net Income 2019: -$90,4832019Revenue 2020: $735,313Expenses 2020: $689,067Net Income 2020: $46,2462020Revenue 2021: $763,647Expenses 2021: $731,646Net Income 2021: $32,0012021Revenue 2022: $719,259Expenses 2022: $729,426Net Income 2022: -$10,1672022Revenue 2023: $809,496Expenses 2023: $654,613Net Income 2023: $154,8832023Revenue 2024: $809,166Expenses 2024: $701,397Net Income 2024: $107,7692024

Highlighted filing

2016

Revenue$686,659
Expenses$682,193
Net Income$4,466
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Dec 16, 2016
Return Version
2015v3.0
Gross Receipts
$686,659
Mission and Program Overview

Mission

Provide housing to qualified low to moderate income families under programs supervised and subsidized by hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$695,920$640,299▼ $55,621
Investments Program Related$192,916$219,587▲ $26,671
Cash and Non-Interest-Bearing Accounts$18,933$55,135▲ $36,202
Intangible Assets$31,916$30,377▼ $1,539
Prepaid Expenses and Deferred Charges$11,760$12,268▲ $508
Accounts Receivable$9,440$3,482▼ $5,958
Total Assets$975,952$976,960▲ $1,008
Other Assets Total$15,067$15,812▲ $745
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,059,270$1,028,816▼ $30,454
Other Liabilities$181,278$202,459▲ $21,181
Accounts Payable and Accrued Expenses$40,903$46,718▲ $5,815
Total Liabilities$1,281,451$1,277,993▼ $3,458
Net Assets / Fund Balance
Unrestricted Net Assets$-305,499$-301,033▲ $4,466
Total Net Assets Fund Balance$-305,499$-301,033▲ $4,466
Total Liabilities and Net Assets / Fund Balance$975,952$976,960▲ $1,008

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$574,049$1,736,746$2,310,795
Equipment$12,373$521,368$533,741
Land$53,877-$53,877
Investment Program Related Org$41,306--
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$686,596
Investment Income
$63
Other Revenue
$0
Change in Net Assets
$4,466

Audited Revenue Reconciliation

Revenue per Audited Statements
$686,659
Total Revenue per Audited Statements
$686,659
Total Revenue per Form 990
$686,659
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$478,500
Salaries, Compensation, and Employee Benefits$203,693
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$180,552--$180,552
Other Salaries and Wages$161,515--$161,515
Depreciation Depletion$68,261--$68,261
Fees for Services Management$64,979--$64,979
Insurance$53,175--$53,175
Interest$41,161--$41,161
Other Employee Benefits$29,244--$29,244
Office Expenses$15,817--$15,817
Payroll Taxes$12,934--$12,934
Fees for Services Accounting$11,500--$11,500
All Other Expenses$5,028--$5,028
Other Expenses$2,991--$2,991
Advertising$1,620--$1,620
Conferences and Meetings$1,139--$1,139
Total Functional Expenses$682,193$0$0$682,193

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$682,193
Total Expenses per Audited Statements$682,193
Total Expenses per Form 990$682,193
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
Accrued Interest$186,913
Tenant Security Deposits$15,546
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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

The board of directors of parkview terrace apartments has contracted with residential properties management, inc to manage all day to day operations of the housing complex. The terms and conditions of the contract are detailed in the management agreement between the two parties.

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

Form 990 is provided to the board for review and signature for the purpose of filing the return.

Form 990, Page 6, Part VI, Line 19

UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Lumber River Housing Development
EIN
56-0988617
Phone
9198368888
Address
1000 PARKVIEW DRIVE, LUMBERTON, NC 28359
Doing Business As
Parkview Terrace Apartments

Signing Officer

Name
Rev Jerry L Stephens Sr
Title
President
Phone
9198368888
Signed
2016-12-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rev Jerry L Stephens Sr
Formed
1968
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
0

Preparer

Firm
Rives & Associates Llp
Address
4515 FALLS OF NEUSE ROAD SUITE 450, RALEIGH, NC 27609
Preparer
Thomas B Cornwell CPA
Phone
9198326848
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS OF PARKVIEW TERRACE APARTMENTS HAS CONTRACTED WITH RESIDENTIAL PROPERTIES MANAGEMENT, INC TO MANAGE ALL DAY TO DAY OPERATIONS OF THE HOUSING COMPLEX. THE TERMS AND CONDITIONS OF THE CONTRACT ARE DETAILED IN THE MANAGEMENT AGREEMENT BETWEEN THE TWO PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND SIGNATURE FOR THE PURPOSE OF FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
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IRS990/USAddress/CityNm0LUMBERTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028358
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IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REV JERRY L STEPHENS SR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09198368888
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-12-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LUMBER RIVER HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INCORPORATED
ReturnHeader/Filer/BusinessNameControlTxt0LUMB
ReturnHeader/Filer/EIN0560988617
ReturnHeader/Filer/PhoneNum09198368888
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0200427530
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RIVES & ASSOCIATES LLP

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.18$1.26$0.08$0.81$0.70$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.08$1.27$0.19$0.81$0.65$0.15
2022Detailed filing. Detailed filing data is available for this year.$0.97$1.31$0.34$0.72$0.73$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.95$1.30$0.35$0.76$0.73$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.93$1.31$0.39$0.74$0.69$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.91$1.35$0.43$0.71$0.80$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.01$1.35$0.34$0.71$0.72$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.98$1.31$0.33$0.83$0.87$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.98$1.28$0.30$0.69$0.68$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.98$1.28$0.31$0.67$0.67$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.97$1.27$0.30$0.66$0.65$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$1.31$0.31$0.63
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$1.32$0.33$0.63
2011Summary only. Only limited summary data is available for this year.$0.99$1.32$0.33$0.62$0.64$0.01