Civic Intelligence

L W Reid Home for the Elderly Inc

EIN 58-1908338 • 501(c)3 • Durham, NC

Profile

L.w. Reid home for the elderly, inc., a north carolina not-for-profit corporation, was organized to own and operate a 24-unit apartment community in durham, north carolina, known as l.w. Reid apartments, pursuant to section 202 of the national housing act, as amended. The corporation has entered into the standard fha regulatory agreements governing the operation of the community with the federal housing administration section of hud.

2614 Crest StreetDurham, NC 27705

n/A

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2014

Liabilities / Revenue

62nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

58th percentile

6.3%

Higher net margin than 58% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

10th percentile

-100%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

46th percentile

-6.4%

Faster revenue growth than 46% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Assets

Down

$0

Down $370,642 (-100%) from 2013

Liabilities

Down

$0

Down $651,079 (-100%) from 2013

Net Assets

Up

$0

Up $280,437 (+100%) from 2013

Revenue

Down

$150,199

Down $10,350 (-6.4%) from 2013

Expenses

Down

$140,717

Down $10,621 (-7.0%) from 2013

Net Income

Up

$9,482

Up $271 (+2.9%) from 2013

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2010: $401,410Liabilities 2010: $659,578Net Assets 2010: -$258,1682010Assets 2011: $394,239Liabilities 2011: $654,649Net Assets 2011: -$260,4102011Assets 2012: $373,444Liabilities 2012: $663,092Net Assets 2012: -$289,6482012Assets 2013: $370,642Liabilities 2013: $651,079Net Assets 2013: -$280,4372013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2014

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$200K$150K$100K$50K$0Expenses 2010: $160,0212010Expenses 2011: $161,8942011Expenses 2012: $180,4722012Revenue 2013: $160,549Expenses 2013: $151,338Net Income 2013: $9,2112013Revenue 2014: $150,199Expenses 2014: $140,717Net Income 2014: $9,4822014

Highlighted filing

2014

Revenue$150,199
Expenses$140,717
Net Income$9,482

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 12, 2015
Return Version
2014v5.0
Gross Receipts
$150,199
Mission and Program Overview

Mission

L.w. Reid home for the elderly, inc., a north carolina not-for-profit corporation, was organized to own and operate a 24-unit apartment community in durham, north carolina, known as l.w. Reid apartments, pursuant to section 202 of the national housing act, as amended. The corporation has entered into the standard fha regulatory agreements governing the operation of the community with the federal housing administration section of hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$252,751$0▼ $252,751
Investments Program Related$97,784$0▼ $97,784
Intangible Assets$8,948$0▼ $8,948
Accounts Receivable$3,860$0▼ $3,860
Cash and Non-Interest-Bearing Accounts$49$0▼ $49
Prepaid Expenses and Deferred Charges$47$0▼ $47
Savings and Temporary Cash Investments-$0-
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 in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$370,642$0▼ $370,642
Other Assets Total$7,203$0▼ $7,203
Liabilities
Mortgage Notes Payable Secured by Investment Property$613,818--
Accounts Payable and Accrued Expenses$18,518--
Other Liabilities$15,144$0▼ $15,144
Deferred Revenue$3,599--
Total Liabilities$651,079$0▼ $651,079
Net Assets / Fund Balance
Unrestricted Net Assets$-280,437$0▲ $280,437
Total Net Assets Fund Balance$-280,437$0▲ $280,437
Total Liabilities and Net Assets / Fund Balance$370,642$0▼ $370,642

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$232,877$497,506$730,383
Other Land Buildings$0$5,605$5,605
Equipment$0$1,022$1,022
Land$999-$999
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$102,141
Program Service Revenue
$48,043
Investment Income
$15
Other Revenue
$0
Change in Net Assets
$9,482
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$140,717
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
Interest$51,790--$51,790
Occupancy$14,745--$14,745
Depreciation Depletion$14,411--$14,411
Fees for Services Management$11,862--$11,862
All Other Expenses$10,867$501-$11,368
Insurance$7,363--$7,363
Other Expenses$4,476--$4,476
Office Expenses$2,729--$2,729
Total Functional Expenses$140,216$501$0$140,717
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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 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
L W Reid Home for the Elderly Inc
EIN
58-1908338
Phone
7048825415
Address
2614 CREST STREET, DURHAM, NC 27705

Signing Officer

Name
Willie Patterson
Title
President
Phone
7048825415
Signed
2015-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Willie Patterson
Formed
1990
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

Additional Explanations

FORM 990, PART XI, LINE 9:

Difference in depreciation method between book/tax -4,462. Assumption of l.w. Reid's liabilities as of 12/15/14 in merger -74,930. Transfer of l.w. Reid's assets as of 12/15/14 in merger 350,347.

FORM 990, PART XII, LINE 3B:

Lw reid merged with crest street community elderly housing on december 15, 2014. At the time of filing form 990, the audited financial statements were still in process.

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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt048043
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE SCHEDULE A IS BEING PREPARED ON A PARTIAL YEAR BECAUSE THE ENTITY WAS DISSOLVED AS OF 12/15/14 AND A FINAL RETURN IS BEING FILED.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, SHORT YEAR EXPLANATION:
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0102141
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0107411
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0104290
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0112162
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0106926
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0532930
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt015
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt012
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0127
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0197
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0351
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt048043
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt048270
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt044889
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt046264
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt044191
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0231657
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt015
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt012
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0127
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0197
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0351
IRS990ScheduleA/InvestmentIncomeCYPct00.00050
IRS990ScheduleA/InvestmentIncomePYPct00.00070
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt04868
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt02043
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01099
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt01881
IRS990ScheduleA/OtherIncome509Grp/TotalAmt09891
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98680
IRS990ScheduleA/PublicSupportPY509Pct00.98470
IRS990ScheduleA/PublicSupportTotal509Amt0764587
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0150184
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0155681
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0149179
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0158426
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0151117
IRS990ScheduleA/Total509Grp/TotalAmt0764587
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0150199
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0160549
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0151234
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0159652
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0153195
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0774829
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/BookValueAmt0232877
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0497506
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0730383
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01022
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01022
IRS990ScheduleD/LandGrp/BookValueAmt0999
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0999
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt05605
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05605
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0233876
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd00
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd01
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd00
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0LAND
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1BUILDING & IMPROVEMENTS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2CASH, A/R, AND PREPAIDS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0CREST STREET COMMUNITY ELDERLY HOUSING CORPORATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1CREST STREET COMMUNITY ELDERLY HOUSING CORPORATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt2CREST STREET COMMUNITY ELDERLY HOUSING CORPORATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02014-12-15
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12014-12-15
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22014-12-15
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0581528903
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1581528903
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN2581528903
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt0999
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt1232877
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt2116471
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)4
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(C)4
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt2501(C)4
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0ASSUMED ASSETS AT BOOK VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1ASSUMED ASSETS AT BOOK VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2ASSUMED ASSETS AT BOOK VALUE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0300 EAST JOHN STREET SUITE 138
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt1300 EAST JOHN STREET SUITE 138
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt2300 EAST JOHN STREET SUITE 138
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0MATTHEWS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1MATTHEWS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm2MATTHEWS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0NC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1NC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd2NC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd028105
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd128105
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd228105
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd00
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PERSON(S) INVOLVED: BETTY JOHNSON, CHARLES ROGERS, DAVID R. MARTIN, EDGAR L. NUNN, JEANETTE STANFORD, LINDA TORIAN, MAE DELL GATTIS, REV. GLENN R. DAVIS, RONALD WAYNE ODOM, CHANDLER BASON, WILLIE I. PATTERSON
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1EXPLANATION OF INVOLVEMENT: L.W. REID HOME FOR THE ELDERLY, INC. AND CREST STREET COMMUNITY ELDERLY HOUSING CORPORATION ARE RELATED ORGANIZATIONS AND SHARE THE SAME BOARD MEMBERS.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 2E:

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