Civic Intelligence

First Baptist Housing Development Corporation II

990 • Fiscal year 2015 • EIN 56-1918508

Apr 01, 2014 to Mar 31, 2015 • Filed on Aug 07, 2015

300 East John Street No 138Matthews, NC 28105

(704) 882-5415

Siviq Scores

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

Liabilities / Assets

91st percentile

1.64x

Higher debt load relative to assets than 91% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

90th percentile

15.28x

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

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Net Margin

18th percentile

-42%

Higher net margin than 18% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Asset Growth

25th percentile

-4.2%

Faster asset growth than 25% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

14th percentile

-9.3%

Faster revenue growth than 14% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,426,598

Down $110,126 (-7.2%) from 2013

Net Assets

Down

-$916,207

Down $101,075 (-12%) from 2013

Liabilities

Down

$2,342,805

Down $9,051 (-0.4%) from 2013

Revenue

$153,310

No earlier filing loaded for comparison.

Expenses

Up

$217,505

Up $11,067 (+5.4%) from 2013

Net Income

-$64,195

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2012: $1,582,305Liabilities 2012: $2,359,447Net Assets 2012: -$777,1422012Assets 2013: $1,536,724Liabilities 2013: $2,351,856Net Assets 2013: -$815,1322013Assets 2015: $1,426,598Liabilities 2015: $2,342,805Net Assets 2015: -$916,2072015Assets 2016: $1,372,208Liabilities 2016: $2,348,364Net Assets 2016: -$976,1562016Assets 2017: $1,760,976Liabilities 2017: $2,614,576Net Assets 2017: -$853,6002017Assets 2018: $1,634,475Liabilities 2018: $2,350,842Net Assets 2018: -$716,3672018Assets 2019: $1,582,917Liabilities 2019: $2,369,914Net Assets 2019: -$786,9972019Assets 2022: $1,404,908Liabilities 2022: $2,391,869Net Assets 2022: -$986,9612022Assets 2025: $1,260,652Liabilities 2025: $2,350,902Net Assets 2025: -$1,090,2502025

Highlighted filing

2015

Assets$1,426,598
Liabilities$2,342,805
Net Assets-$916,207

Operations Trend

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

$400K$300K$200K$100K$0-$100KExpenses 2012: $197,4152012Expenses 2013: $206,4382013Revenue 2015: $153,310Expenses 2015: $217,505Net Income 2015: -$64,1952015Revenue 2016: $162,931Expenses 2016: $222,880Net Income 2016: -$59,9492016Revenue 2017: $295,979Expenses 2017: $173,423Net Income 2017: $122,5562017Revenue 2018: $301,850Expenses 2018: $164,617Net Income 2018: $137,2332018Revenue 2019: $163,221Expenses 2019: $242,851Net Income 2019: -$79,6302019Revenue 2022: $206,663Expenses 2022: $216,805Net Income 2022: -$10,1422022Revenue 2025: $220,948Expenses 2025: $287,619Net Income 2025: -$66,6712025

Highlighted filing

2015

Revenue$153,310
Expenses$217,505
Net Income-$64,195
Jump To
Filing Snapshot
Filing Period
Apr 1, 2014 to Mar 31, 2015
Signed
Aug 7, 2015
Return Version
2014v5.0
Gross Receipts
$166,805
Mission and Program Overview

Mission

To provide housing and related services to qualified elderly persons under programs supervised and subsidized by hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,193,469$1,195,002▲ $1,533
Savings and Temporary Cash Investments$276,901$209,899▼ $67,002
Prepaid Expenses and Deferred Charges$5,119$5,174▲ $55
Cash and Non-Interest-Bearing Accounts$2,925$3,440▲ $515
Accounts Receivable$1,251$1,197▼ $54
Total Assets$1,488,994$1,426,598▼ $62,396
Other Assets Total$9,329$11,886▲ $2,557
Liabilities
Deferred Revenue$2,329,106$2,328,760▼ $346
Other Liabilities$8,985$9,427▲ $442
Accounts Payable and Accrued Expenses$2,915$4,618▲ $1,703
Total Liabilities$2,341,006$2,342,805▲ $1,799
Net Assets / Fund Balance
Unrestricted Net Assets$-852,012$-916,207▼ $64,195
Total Net Assets Fund Balance$-852,012$-916,207▼ $64,195
Total Liabilities and Net Assets / Fund Balance$1,488,994$1,426,598▼ $62,396

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,098,765$921,546$2,020,311
Other Land Buildings$36,237$37,278$73,515
Land$60,000-$60,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Wixie StephensChairman
Shelby FoyVice Chairman
Dr Thomas MurrayMember
James McmillianMember
King EvansMember
Lucille WatsonMember
Marian CarmichaelSecretary
Mary ColeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$77,387
Program Service Revenue
$89,412
Investment Income
$-13,489
Other Revenue
$0
Change in Net Assets
$-64,195

Audited Revenue Reconciliation

Revenue per Audited Statements
$166,805
Revenue Not Reported on Financial Statements
$-13,495
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-13,495
Total Revenue per Audited Statements
$166,805
Total Revenue per Form 990
$153,310
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$217,505
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$52,647--$52,647
Occupancy$24,660--$24,660
Fees for Services Management$21,450--$21,450
All Other Expenses$16,788$3,595-$20,383
Insurance$16,595--$16,595
Fees for Services Accounting-$9,780-$9,780
Other Expenses$8,342--$8,342
Office Expenses$6,649--$6,649
Advertising$300--$300
Total Functional Expenses$204,130$13,375$0$217,505

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$231,000
Total Expenses per Audited Statements$231,000
Total Expenses per Form 990$217,505
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-13,495
Other Expense Adjustments$-13,495
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
Tenant Security Deposits$9,427
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, Part VI, Section A, Line 3

The board of directors has delegated the management of the rental apartments to multifamily select, inc. The affordable housing apartment complex is regulated by the u.s. Department of housing and urban development as to rent charges and operating methods. The management company was chosen due to its experience in management under these guidelines.

Form 990, Part VI, Section B, Line 11

A copy of the form 990 is presented to the board members prior to being filed.

Form 990, Part VI, Section C, Line 19

The governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
First Baptist Housing Development Corporation Ii
EIN
56-1918508
Phone
7048825415
Address
300 EAST JOHN STREET NO 138, MATTHEWS, NC 28105

Signing Officer

Name
Wixie Stephens
Title
Chairman
Phone
7048825415
Signed
2015-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wixie Stephens
Formed
1995
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Bernard Robinson & Company Llp
Address
PO BOX 19608, GREENSBORO, NC 27419-9608
Preparer
Casey H Patterson
Phone
3362944494
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

It is the corporation's policy to evaluate all tax positions to identify any that may be considered uncertain. All identified material tax positions are assessed and measured by a 'more-likely-than-not' threshold to determine if the tax position is uncertain and what, if any, the effect of the uncertain tax position may have on the financial statements. No material uncertain tax positions were identified for 2015. Currently, the statute of limitations remains open subsequent to and including 2012; however, no examinations are in process or anticipated.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Loss on disposal of asset -13,495.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Loss on disposal of assets -13,495.

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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0410312
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99210
IRS990ScheduleA/PublicSupportPY170Pct00.98750
IRS990ScheduleA/PublicSupportTotal170Amt0415730
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt077387
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt081612
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt089583
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt088667
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt078481
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0415730
IRS990ScheduleA/TotalSupportAmt0419026
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01098765
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0921546
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02020311
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-13495
IRS990ScheduleD/ExpensesSubtotalAmt0231000
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt060000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt060000
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-13495
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt036237
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt037278
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt073515
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09427
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-13495
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-13495
IRS990ScheduleD/RevenueSubtotalAmt0166805
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IT IS THE CORPORATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A 'MORE-LIKELY-THAN-NOT' THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2015. CURRENTLY, THE STATUTE OF LIMITATIONS REMAINS OPEN SUBSEQUENT TO AND INCLUDING 2012; HOWEVER, NO EXAMINATIONS ARE IN PROCESS OR ANTICIPATED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON DISPOSAL OF ASSET -13,495.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2LOSS ON DISPOSAL OF ASSETS -13,495.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01195002
IRS990ScheduleD/TotalExpensesPerForm990Amt0217505
IRS990ScheduleD/TotalLiabilityAmt09427
IRS990ScheduleD/TotalRevenuePerForm990Amt0153310
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0166805
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0231000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS HAS DELEGATED THE MANAGEMENT OF THE RENTAL APARTMENTS TO MULTIFAMILY SELECT, INC. THE AFFORDABLE HOUSING APARTMENT COMPLEX IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS. THE MANAGEMENT COMPANY WAS CHOSEN DUE TO ITS EXPERIENCE IN MANAGEMENT UNDER THESE GUIDELINES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS PRESENTED TO THE BOARD MEMBERS PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0FIRST BAPTIST HOUSING DEVELOPMENT CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0581620954
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RENTAL REAL ESTATE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01488994
IRS990/TotalAssetsEOYAmt01426598
IRS990/TotalAssetsGrp/BOYAmt01488994
IRS990/TotalAssetsGrp/EOYAmt01426598
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt077387
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013375
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0204130
IRS990/TotalFunctionalExpensesGrp/TotalAmt0217505
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02341006
IRS990/TotalLiabilitiesEOYAmt02342805
IRS990/TotalLiabilitiesGrp/BOYAmt02341006
IRS990/TotalLiabilitiesGrp/EOYAmt02342805
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-852012
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-916207
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0204130
IRS990/TotalProgramServiceRevenueAmt089412
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-13489
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt089412
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0153310
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01488994
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01426598
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-852012
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-916207

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