Civic Intelligence

Sanford Affordable Housing Development Corp

EIN 56-2076696 • Sanford, NC

Profile

To develop and maintain housing units for very-low and low income families.

PO Box 1752Sanford, NC 27331

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

89th percentile

0.62x

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

501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

95th percentile

1.89x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

56th percentile

7.1%

Higher net margin than 56% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

39th percentile

-0.6%

Faster asset growth than 39% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

67th percentile

20%

Faster revenue growth than 67% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$630,106

Down $4,031 (-0.6%) from 2014

Liabilities

Down

$393,078

Down $18,905 (-4.6%) from 2014

Net Assets

Up

$237,028

Up $14,874 (+6.7%) from 2014

Operations
Liabilities / Revenue95th percentileNet Margin56th percentile

Revenue

Up

$208,248

Up $35,387 (+20%) from 2014

Expenses

Down

$193,374

Down $26,946 (-12%) from 2014

Net Income

Up

$14,874

Up $62,333 (+131%) from 2014

Trend Graphs

Balance Sheet Trend

Asset Growth39th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2010: $323,936Liabilities 2010: $0Net Assets 2010: $323,9362010Assets 2014: $634,137Liabilities 2014: $411,983Net Assets 2014: $222,1542014Assets 2015: $630,106Liabilities 2015: $393,078Net Assets 2015: $237,0282015

Highlighted filing

2015

Assets$630,106
Liabilities$393,078
Net Assets$237,028
Open 2015 Filing

Operations Trend

Revenue Growth67th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KRevenue 2010: $21,876Expenses 2010: $24,224Net Income 2010: -$2,3482010Revenue 2014: $172,861Expenses 2014: $220,320Net Income 2014: -$47,4592014Revenue 2015: $208,248Expenses 2015: $193,374Net Income 2015: $14,8742015

Highlighted filing

2015

Revenue$208,248
Expenses$193,374
Net Income$14,874
Open 2015 Filing

Filings

Most recent year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$630,106
Liabilities
$393,078
Net assets
$237,028
Revenue
$208,248
Expenses
$193,374
Net income
$14,874
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$6.30$3.93$2.37$2.08$1.93$0.15
2014Summary only. Only limited summary data is available for this year.$6.34$4.12$2.22$1.73$2.20$0.47
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.24$0.00$3.24$0.22$0.24$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
May 10, 2016
Return Version
2014v6.0
Gross Receipts
$208,248
Mission and Program Overview

Mission

To develop and maintain housing units for very-low and low income families.

To develop and maintain housing units for very-low and low income families in the Sanford North Carolina area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$468,177$455,224▼ $12,953
Savings and Temporary Cash Investments$655$106,845▲ $106,190
Cash and Non-Interest-Bearing Accounts$148,241$50,412▼ $97,829
Prepaid Expenses and Deferred Charges$17,064$17,098▲ $34
Accounts Receivable-$527-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$634,137$630,106▼ $4,031
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$383,861$369,746▼ $14,115
Other Liabilities$10,183$17,696▲ $7,513
Accounts Payable and Accrued Expenses$17,939$5,339▼ $12,600
Deferred Revenue-$297-
Total Liabilities$411,983$393,078▼ $18,905
Net Assets / Fund Balance
Unrestricted Net Assets$222,154$237,028▲ $14,874
Total Net Assets Fund Balance$222,154$237,028▲ $14,874
Total Liabilities and Net Assets / Fund Balance$634,137$630,106▼ $4,031

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$435,798$61,341-
Land$19,426--
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Ben GardnerActing Chairman
Peggy BarbourFormer Chairman
Beverly Matthews McGilvearyBoard Member
Ken ArmstrongSec/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$199,207
Investment Income
$53
Other Revenue
$8,988
Change in Net Assets
$14,874
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$159,388
Salaries, Compensation, and Employee Benefits$33,986
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$26,630--$26,630
Insurance$24,133--$24,133
Other Salaries and Wages$20,976--$20,976
Depreciation Depletion$18,149--$18,149
Office Expenses$15,714--$15,714
Interest$15,505--$15,505
Other Employee Benefits$13,010--$13,010
Fees for Services Management-$11,109-$11,109
Other Expenses$2,818--$2,818
Fees for Services Accounting-$2,000-$2,000
All Other Expenses$1,321--$1,321
Fees for Services Legal-$358-$358
Total Functional Expenses$179,907$13,467$0$193,374
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$17,092
Accrued Compensated Absences - LT$604
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Sanford Affordable Housing, Inc. has contracted with the Sanford Housing Authority to provide contracted administrative services, oversee management of the low-income rental units, and maintain required documentation for low-income tenants.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The board does not review the 990 before filing with the internal revenue service.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Goverment documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Sanford Affordable Housing Development
EIN
56-2076696
Phone
9197660827
Address
PO Box 1752, Sanford, NC 27331

Signing Officer

Name
Ben Gardner
Title
Acting Chairman
Signed
2016-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ben Gardner
Formed
1998
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Barton Gonzalez & Myers Pa
Address
13137 66TH ST, LARGO, FL 33773-1812
Preparer
Sergio Gonzalez
Phone
7273441040
Supplemental Narrative

Additional Explanations

Client Note 1

“Client Note 1 - Form 990, Part V, Line 2aForm 990, Part VI, Section B, Line 15Form 900, Part IX, Line 7 & 9 - Statement of Functional ExpensesCompensation:The organization has no employees. All compensation costs are allocated from the employees of the Authority.”

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0283
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0979
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IRS990ScheduleA/InvestmentIncomeCYPct00.00300
IRS990ScheduleA/InvestmentIncomePYPct00.01000
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IRS990ScheduleA/PublicSupportCY509Pct00.99700
IRS990ScheduleA/PublicSupportPY509Pct00.99460
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0172808
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt048824
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt018952
IRS990ScheduleA/Total509Grp/TotalAmt0448779
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0208248
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0172861
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt049107
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt019931
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0450147
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0435798
IRS990ScheduleD/BuildingsGrp/DepreciationAmt061341
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0497139
IRS990ScheduleD/LandGrp/BookValueAmt019426
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt019426
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0604
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt117092
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Compensated Absences - LT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant Security Deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0455224
IRS990ScheduleD/TotalLiabilityAmt017696
IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - Form 990, Part V, Line 2aForm 990, Part VI, Section B, Line 15Form 900, Part IX, Line 7 & 9 - Statement of Functional ExpensesCompensation:The organization has no employees. All compensation costs are allocated from the employees of the Authority.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Sanford Affordable Housing, Inc. has contracted with the Sanford Housing Authority to provide contracted administrative services, oversee management of the low-income rental units, and maintain required documentation for low-income tenants.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board does not review the 990 before filing with the internal revenue service.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Goverment documents are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Sanford Housing Authority
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0560786993
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501c3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Housing
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt06
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO Box 636
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Sanford
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027330
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt035231
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt111109
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Reimbursement
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Contractual
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Sanford Housing Authority
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Sanford Housing Authority
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0193374
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IRS990/TotalLiabilitiesEOYAmt0393078
IRS990/TotalLiabilitiesGrp/BOYAmt0411983
IRS990/TotalLiabilitiesGrp/EOYAmt0393078
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0222154

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