Civic Intelligence

First Baptist Housing Development Corporation II

990 • Fiscal year 2021 • EIN 56-1918508

Apr 01, 2020 to Mar 31, 2021 • Filed on Jul 28, 2021

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

1.68x

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

2021 filings • NTEE L • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

11.78x

Higher debt load relative to revenue than 87% of similar nonprofits.

2021 filings • NTEE L • $1M-$5M nonprofits • Source year 2021

Net Margin

42nd percentile

-10%

Higher net margin than 42% of similar nonprofits.

2021 filings • NTEE L • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

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

2021 filings • NTEE L • $1M-$5M nonprofits • Source year 2021

Asset Growth

38th percentile

-2.8%

Faster asset growth than 38% of similar nonprofits.

2021 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

78th percentile

13%

Faster revenue growth than 78% of similar nonprofits.

2021 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$1,442,469

Down $140,448 (-8.9%) from 2019

Net Assets

Down

-$976,819

Down $189,822 (-24%) from 2019

Liabilities

Up

$2,419,288

Up $49,374 (+2.1%) from 2019

Revenue

Up

$205,316

Up $42,095 (+26%) from 2019

Expenses

Down

$225,989

Down $16,862 (-6.9%) from 2019

Net Income

Up

-$20,673

Up $58,957 (+74%) 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 2021: $1,442,469Liabilities 2021: $2,419,288Net Assets 2021: -$976,8192021Assets 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

2021

Assets$1,442,469
Liabilities$2,419,288
Net Assets-$976,819

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 2021: $205,316Expenses 2021: $225,989Net Income 2021: -$20,6732021Revenue 2022: $206,663Expenses 2022: $216,805Net Income 2022: -$10,1422022Revenue 2025: $220,948Expenses 2025: $287,619Net Income 2025: -$66,6712025

Highlighted filing

2021

Revenue$205,316
Expenses$225,989
Net Income-$20,673
Jump To
Filing Snapshot
Filing Period
Apr 1, 2020 to Mar 31, 2021
Signed
Jul 28, 2021
Return Version
2020v4.1
Gross Receipts
$205,316
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$1,436,744$1,381,811▼ $54,933
Savings and Temporary Cash Investments$25,760$35,321▲ $9,561
Prepaid Expenses and Deferred Charges$8,115$8,558▲ $443
Cash and Non-Interest-Bearing Accounts$2,312$3,770▲ $1,458
Accounts Receivable$463$1,135▲ $672
Total Assets$1,483,500$1,442,469▼ $41,031
Other Assets Total$10,106$11,874▲ $1,768
Liabilities
Deferred Revenue$2,328,983$2,328,973▼ $10
Mortgage Notes Payable Secured by Investment Property$97,917$73,254▼ $24,663
Other Liabilities$8,101$8,918▲ $817
Accounts Payable and Accrued Expenses$4,645$8,143▲ $3,498
Total Liabilities$2,439,646$2,419,288▼ $20,358
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-956,146$-976,819▼ $20,673
Total Net Assets Fund Balance$-956,146$-976,819▼ $20,673
Total Liabilities and Net Assets / Fund Balance$1,483,500$1,442,469▼ $41,031

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,262,106$679,695$1,941,801
Other Land Buildings$26,357$42,543$68,900
Land$60,000-$60,000
Equipment$33,348$17,957$51,305
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$111,372
Program Service Revenue
$93,944
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-20,673

Audited Revenue Reconciliation

Revenue per Audited Statements
$205,316
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$205,316
Total Revenue per Form 990
$205,316
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$225,989
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$54,933--$54,933
Fees for Services Management$26,486--$26,486
Insurance$25,017--$25,017
Occupancy$16,189--$16,189
Fees for Services Accounting-$13,700-$13,700
All Other Expenses$11,242$2,166-$13,408
Other Expenses$7,668--$7,668
Office Expenses$6,605--$6,605
Interest$2,426--$2,426
Advertising$50--$50
Total Functional Expenses$210,123$15,866$0$225,989

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$225,989
Total Expenses per Audited Statements$225,989
Total Expenses per Form 990$225,989
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$8,918
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
2021-07-28
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 2021.

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IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt093944
IRS990/SavingsAndTempCashInvstGrp/BOYAmt025760
IRS990/SavingsAndTempCashInvstGrp/EOYAmt035321
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0111372
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt088143
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt077035
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt017548
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt039443
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0333541
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt06
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt028
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt033
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt067
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0560300
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99980
IRS990ScheduleA/PublicSupportPY170Pct00.99970
IRS990ScheduleA/PublicSupportTotal170Amt0333541
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0111372
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt088143
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt077035
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt017548
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt039443
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0333541
IRS990ScheduleA/TotalSupportAmt0333608
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/BookValueAmt01262106
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0679695
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01941801
IRS990ScheduleD/EquipmentGrp/BookValueAmt033348
IRS990ScheduleD/EquipmentGrp/DepreciationAmt017957
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt051305
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0225989
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt060000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt060000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt026357
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt042543
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt068900
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08918
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0205316
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 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01381811
IRS990ScheduleD/TotalExpensesPerForm990Amt0225989
IRS990ScheduleD/TotalLiabilityAmt08918
IRS990ScheduleD/TotalRevenuePerForm990Amt0205316
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0205316
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0225989
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/InvolvedAmt040000
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
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01483500
IRS990/TotalAssetsEOYAmt01442469
IRS990/TotalAssetsGrp/BOYAmt01483500

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