Civic Intelligence

Horizon Development Properties Inc.

990 • Fiscal year 2013 • EIN 56-2246833

Apr 01, 2012 to Mar 31, 2013 • Filed on Feb 01, 2014

Organization ProfileN/A
400 east blvdSuite28203
Siviq Scores

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

Liabilities / Assets

86th percentile

0.83x

Higher debt load relative to assets than 86% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2013

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

95th percentile

39%

Faster asset growth than 95% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$58,670,590

Up $16,565,445 (+39%) from 2012

Net Assets

Up

$9,697,277

Up $3,820,667 (+65%) from 2012

Liabilities

Up

$48,973,313

Up $12,744,778 (+35%) from 2012

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$10,051,206

Up $1,493,243 (+17%) from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$600M$400M$200M$0Assets 2012: $42,105,145Liabilities 2012: $36,228,535Net Assets 2012: $5,876,6102012Assets 2013: $58,670,590Liabilities 2013: $48,973,313Net Assets 2013: $9,697,2772013Assets 2014: $68,326,906Liabilities 2014: $55,832,786Net Assets 2014: $12,494,1202014Assets 2015: $77,030,377Liabilities 2015: $66,218,916Net Assets 2015: $10,811,4612015Assets 2016: $134,413,214Liabilities 2016: $86,397,140Net Assets 2016: $48,016,0742016Assets 2017: $256,024,196Liabilities 2017: $177,889,810Net Assets 2017: $78,134,3862017Assets 2018: $251,714,409Liabilities 2018: $217,712,404Net Assets 2018: $34,002,0052018Assets 2019: $251,346,379Liabilities 2019: $219,667,864Net Assets 2019: $31,678,5152019Assets 2020: $294,872,530Liabilities 2020: $263,424,041Net Assets 2020: $31,448,4892020Assets 2021: $420,836,852Liabilities 2021: $377,644,682Net Assets 2021: $43,192,1702021Assets 2022: $528,761,139Liabilities 2022: $472,432,048Net Assets 2022: $56,329,0912022Assets 2023: $565,595,319Liabilities 2023: $464,771,841Net Assets 2023: $100,823,4782023Assets 2024: $573,740,246Liabilities 2024: $451,171,025Net Assets 2024: $122,569,2212024

Highlighted filing

2013

Assets$58,670,590
Liabilities$48,973,313
Net Assets$9,697,277
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$100M$50M$0-$50MExpenses 2012: $8,557,9632012Expenses 2013: $10,051,2062013Revenue 2014: $9,632,636Expenses 2014: $9,809,317Net Income 2014: -$176,6812014Revenue 2015: $11,256,070Expenses 2015: $10,904,344Net Income 2015: $351,7262015Revenue 2016: $28,656,051Expenses 2016: $12,620,420Net Income 2016: $16,035,6312016Revenue 2017: $34,172,568Expenses 2017: $53,603,370Net Income 2017: -$19,430,8022017Revenue 2018: -$3,055,197Expenses 2018: $41,178,375Net Income 2018: -$44,233,5722018Revenue 2019: $38,838,190Expenses 2019: $44,560,195Net Income 2019: -$5,722,0052019Revenue 2020: $38,501,606Expenses 2020: $47,937,045Net Income 2020: -$9,435,4392020Revenue 2021: $43,904,469Expenses 2021: $49,840,565Net Income 2021: -$5,936,0962021Revenue 2022: $49,320,137Expenses 2022: $57,949,705Net Income 2022: -$8,629,5682022Revenue 2023: $77,541,860Expenses 2023: $71,907,736Net Income 2023: $5,634,1242023Revenue 2024: $84,376,456Expenses 2024: $94,117,044Net Income 2024: -$9,740,5882024

Highlighted filing

2013

Revenue-
Expenses$10,051,206
Net Income-
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2012 to Mar 31, 2013
Signed
Feb 1, 2014
Return Version
2012v2.3
Gross Receipts
$10,987,525
Mission and Program Overview

Mission

To provide affordable housing to all qualified families.

Major Activities

Activity 2
Increase affordable housing opportunities for qualified families: We are continuously looking for additional opportunities to expand our capacity and provide additional affordable housing options for families in need. No properties were puchased in 2012. However, there are many real estate deals being pursued and evaluated, with each at different stages in the process. Several of these should be finalized in the coming year.
Activity 3
Improve housing stock available for families: During the year substantial progress was made on 2 properties whose major renovations began in FY11. These properties were in the final stages of renovations at year end. These renovations help to improve the availability and sustainability of our housing portfolio
Filing and Contact Details

Filer

EIN
56-2246833
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IRS990ScheduleD/OtherLiabilities/Amount41215959
IRS990ScheduleD/OtherLiabilities/Description0INTERPROGRAM INDEBTEDNESS
IRS990ScheduleD/OtherLiabilities/Description1ACCRUED COMPENSATED ABSENCES
IRS990ScheduleD/OtherLiabilities/Description2SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilities/Description3OTHER CURRENT LIABILITEIS
IRS990ScheduleD/OtherLiabilities/Description4NONCURRENT LIABILITIES - OTHER
IRS990ScheduleD/TotalOfAmounts02227384
IRS990ScheduleD/TotalOfBookValueLandBuildings043598049
IRS990ScheduleD/TotalOfBookValueProgramRelated05678102
IRS990/ScheduleJRequired0false
IRS990ScheduleO/GeneralExplanation/Explanation0ALL DOCUMENTS ARE EMAILED TO THE BOARD OF COMMISSIONERS AND GIVEN TIME TO REVIEW AND COMMENT PRIOR TO THE FILING OF THE 990 WITH THE IRS.
IRS990ScheduleO/GeneralExplanation/Explanation1COMPENSATION FOR ALL EMPLOYEES IS BASED ON A YEARLY REVIEW OF MARKET AND INDUSTRY AVERAGES AS WELL AS AN EXTERNAL POSITION REVIEW, WHICH IS COMPLETED EVERY THREE TO FOUR YEARS. EXECUTIVE PAY REQUIRES ADDITIONAL REVIEW THAT INCLUDES THE FOLLOWING: A REVIEW OF ALL POSITIONS FROM AN EXTERNAL COMPENSATION FIRM (WATERS CONSULTANTS) TO ENSURE POSITIONS ARE ACCURATE IN BOTH CONTENT AND IN PAY SCALE. FOR EXECUTIVE (CEO) PAY, A SALARY/BENEFIT REVIEW IS DONE APPROXIMATELY EVERY TWO YEARS WITH OTHER AGENCIES (BOTH NC AND SC). THE UTILIZATION OF THE ANNUAL EMPLOYER'S ASSOCIATION SALARY COMPENSATION REVIEW AND THE RESULTS OF THE NAHRO EXECUTIVE COMPENSATION STUDY IS ALSO TAKEN INTO ACCOUNT WHEN DETERMINING EXECUTIVE PAY.
IRS990ScheduleO/GeneralExplanation/Explanation2DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation3Mill Pond Apartments was previously included in Horizon Development Properties' financial statements. In January 2012 a 223(f) loan was obtained to refinance the previous loan for Mill Pond Apartments at which time Mill Pond Charlotte, LLC was created. Mill Pond Charlotte, LLC is included as a blended component unit. The inclusion resulted in transfers in on the Statement Revenue, Expenses and Changes in Net Position of $2,537,156 for Horizon Development Properties, Inc. The organization also received an Operating Transfer In as an Other Financing Source in the amount of $522,334 effecting the Net Fund Balance. Horizon Development Properties now owns 100% of The Lofts, LLC. The SMLLC had a prior equity of $-175,141 in the project prior to being called The Lofts, LLC and that equity was being recorded on a related organizations financial statements.
IRS990ScheduleO/GeneralExplanation/Identifier0PART VI, SECTION A #11
IRS990ScheduleO/GeneralExplanation/Identifier1PART VI, SECTION B #15
IRS990ScheduleO/GeneralExplanation/Identifier2PART VI, SECTION C #19
IRS990ScheduleO/GeneralExplanation/Identifier3PART XI, ITEM 9
IRS990/ScheduleORequired0true
IRS990ScheduleR/ExchangeOfAssets0false

Document Assets

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Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$58,670,590
Liabilities
$48,973,313
Net assets
$9,697,277
Revenue
-
Expenses
$10,051,206
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$574$451$123$84.4$94.1$9.74
2023Detailed filing. Detailed filing data is available for this year.$566$465$101$77.5$71.9$5.63
2022Detailed filing. Detailed filing data is available for this year.$529$472$56.3$49.3$57.9$8.63
2021Detailed filing. Detailed filing data is available for this year.$421$378$43.2$43.9$49.8$5.94
2020Detailed filing. Detailed filing data is available for this year.$295$263$31.4$38.5$47.9$9.44
2019Detailed filing. Detailed filing data is available for this year.$251$220$31.7$38.8$44.6$5.72
2018Detailed filing. Detailed filing data is available for this year.$252$218$34.0$3.06$41.2$44.2
2017Detailed filing. Detailed filing data is available for this year.$256$178$78.1$34.2$53.6$19.4
2016Detailed filing. Detailed filing data is available for this year.$134$86.4$48.0$28.7$12.6$16.0
2015Detailed filing. Detailed filing data is available for this year.$77.0$66.2$10.8$11.3$10.9$0.35
2014Detailed filing. Detailed filing data is available for this year.$68.3$55.8$12.5$9.63$9.81$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.7$49.0$9.70$10.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.1$36.2$5.88$8.56