Civic Intelligence

First Baptist Housing Development Corporation II

990 • Fiscal year 2020 • EIN 56-1918508

Apr 01, 2019 to Mar 31, 2020 • Filed on Dec 21, 2020

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

88th percentile

1.64x

Higher debt load relative to assets than 88% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

89th percentile

13.42x

Higher debt load relative to revenue than 89% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Net Margin

5th percentile

-93%

Higher net margin than 5% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • NTEE L • $1M-$5M nonprofits • Source year 2020

Asset Growth

11th percentile

-6.3%

Faster asset growth than 11% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

76th percentile

11%

Faster revenue growth than 76% of similar nonprofits.

2020 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$1,483,500

Down $99,417 (-6.3%) from 2019

Net Assets

Down

-$956,146

Down $169,149 (-21%) from 2019

Liabilities

Up

$2,439,646

Up $69,732 (+2.9%) from 2019

Revenue

Up

$181,747

Up $18,526 (+11%) from 2019

Expenses

Up

$350,896

Up $108,045 (+44%) from 2019

Net Income

Down

-$169,149

Down $89,519 (-112%) from 2019

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 2020: $1,483,500Liabilities 2020: $2,439,646Net Assets 2020: -$956,1462020Assets 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

2020

Assets$1,483,500
Liabilities$2,439,646
Net Assets-$956,146

Operations Trend

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

$400K$200K$0-$200KExpenses 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 2020: $181,747Expenses 2020: $350,896Net Income 2020: -$169,1492020Revenue 2022: $206,663Expenses 2022: $216,805Net Income 2022: -$10,1422022Revenue 2025: $220,948Expenses 2025: $287,619Net Income 2025: -$66,6712025

Highlighted filing

2020

Revenue$181,747
Expenses$350,896
Net Income-$169,149
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Dec 21, 2020
Return Version
2019v5.1
Gross Receipts
$181,747
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$1,491,676$1,436,744▼ $54,932
Savings and Temporary Cash Investments$66,936$25,760▼ $41,176
Prepaid Expenses and Deferred Charges$7,918$8,115▲ $197
Cash and Non-Interest-Bearing Accounts$6,161$2,312▼ $3,849
Accounts Receivable$626$463▼ $163
Total Assets$1,582,917$1,483,500▼ $99,417
Other Assets Total$9,600$10,106▲ $506
Liabilities
Deferred Revenue$2,328,734$2,328,983▲ $249
Mortgage Notes Payable Secured by Investment Property$0$97,917▲ $97,917
Other Liabilities$8,735$8,101▼ $634
Accounts Payable and Accrued Expenses$32,445$4,645▼ $27,800
Total Liabilities$2,369,914$2,439,646▲ $69,732
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-786,997$-956,146▼ $169,149
Total Net Assets Fund Balance$-786,997$-956,146▼ $169,149
Total Liabilities and Net Assets / Fund Balance$1,582,917$1,483,500▼ $99,417

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,310,651$631,150$1,941,801
Other Land Buildings$27,614$41,286$68,900
Land$60,000-$60,000
Equipment$38,479$12,826$51,305
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$88,143
Program Service Revenue
$93,270
Investment Income
$0
Other Revenue
$334
Change in Net Assets
$-169,149

Audited Revenue Reconciliation

Revenue per Audited Statements
$181,747
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$181,747
Total Revenue per Form 990
$181,747
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$350,896
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$54,932--$54,932
Insurance$23,819--$23,819
Fees for Services Management$23,519--$23,519
All Other Expenses$21,941$678-$22,619
Other Expenses$16,858--$16,858
Occupancy$15,641--$15,641
Fees for Services Accounting-$13,200-$13,200
Office Expenses$6,698--$6,698
Fees for Services Legal$3,588--$3,588
Interest$494--$494
Total Functional Expenses$337,018$13,878$0$350,896

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$350,896
Total Expenses per Audited Statements$350,896
Total Expenses per Form 990$350,896
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$8,101
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
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 11B

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
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
2020-12-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wixie Stephens
Formed
1995
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

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 2020.

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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0163221
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-169149
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt093604
IRS990/SavingsAndTempCashInvstGrp/BOYAmt066936
IRS990/SavingsAndTempCashInvstGrp/EOYAmt025760
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt088143
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt077035
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt017548
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt039443
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt077878
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0300047
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt06
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt028
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt033
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt021
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt088
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0551388
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99970
IRS990ScheduleA/PublicSupportPY170Pct00.99970
IRS990ScheduleA/PublicSupportTotal170Amt0300047
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt088143
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt077035
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt017548
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt039443
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt077878
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0300047
IRS990ScheduleA/TotalSupportAmt0300135
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/BookValueAmt01310651
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0631150
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01941801
IRS990ScheduleD/EquipmentGrp/BookValueAmt038479
IRS990ScheduleD/EquipmentGrp/DepreciationAmt012826
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt051305
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0350896
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt060000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt060000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt027614
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt041286
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt068900
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08101
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0181747
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 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01436744
IRS990ScheduleD/TotalExpensesPerForm990Amt0350896
IRS990ScheduleD/TotalLiabilityAmt08101
IRS990ScheduleD/TotalRevenuePerForm990Amt0181747
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0181747
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0350896
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 11B
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/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0FIRST BAPTIST HOUSING DEVELOPMENT CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1FIRST BAPTIST CHURCH LUMBERTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0581620954
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RENTAL REAL ESTATE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1RELIGIOUS ORGANIZATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0504 WEST 2ND STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LUMBERTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd028358
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt049167
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0FIRST BAPTIST CHURCH LUMBERTON
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00

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