Civic Intelligence

Assembly Terrace Inc.

990 • Fiscal year 2021 • EIN 58-2044986

Jul 01, 2020 to Jun 30, 2021 • Filed on Dec 10, 2021

Organization ProfileN/A
3731 University ParkwayWinston Salem, NC 27106-4018

(336) 765-0424

Siviq Scores

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

Liabilities / Assets

95th percentile

2.20x

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

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

Liabilities / Revenue

80th percentile

8.27x

Higher debt load relative to revenue than 80% of similar nonprofits.

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

Net Margin

44th percentile

-8.9%

Higher net margin than 44% 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

43rd percentile

-2.4%

Faster asset growth than 43% of similar nonprofits.

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

Revenue Growth

56th percentile

2.9%

Faster revenue growth than 56% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$1,546,283

Down $37,527 (-2.4%) from 2020

Net Assets

Down

-$1,855,968

Down $36,759 (-2.0%) from 2020

Liabilities

Down

$3,402,251

Down $768 (-0.0%) from 2020

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin44th percentile

Revenue

Up

$411,164

Up $11,763 (+2.9%) from 2020

Expenses

Down

$447,923

Down $321 (-0.1%) from 2020

Net Income

Up

-$36,759

Up $12,084 (+25%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $2,097,587Liabilities 2011: $3,403,333Net Assets 2011: -$1,305,7462011Assets 2012: $2,050,905Liabilities 2012: $3,403,371Net Assets 2012: -$1,352,4662012Assets 2013: $1,988,346Liabilities 2013: $3,398,564Net Assets 2013: -$1,410,2182013Assets 2014: $1,921,986Liabilities 2014: $3,419,964Net Assets 2014: -$1,497,9782014Assets 2015: $1,838,272Liabilities 2015: $3,401,018Net Assets 2015: -$1,562,7462015Assets 2016: $1,787,358Liabilities 2016: $3,405,837Net Assets 2016: -$1,618,4792016Assets 2017: $1,731,296Liabilities 2017: $3,402,916Net Assets 2017: -$1,671,6202017Assets 2018: $1,703,135Liabilities 2018: $3,418,586Net Assets 2018: -$1,715,4512018Assets 2019: $1,632,504Liabilities 2019: $3,402,870Net Assets 2019: -$1,770,3662019Assets 2020: $1,583,810Liabilities 2020: $3,403,019Net Assets 2020: -$1,819,2092020Assets 2021: $1,546,283Liabilities 2021: $3,402,251Net Assets 2021: -$1,855,9682021Assets 2022: $1,472,361Liabilities 2022: $3,404,463Net Assets 2022: -$1,932,1022022Assets 2023: $1,434,850Liabilities 2023: $3,407,473Net Assets 2023: -$1,972,6232023Assets 2024: $1,385,812Liabilities 2024: $3,409,604Net Assets 2024: -$2,023,7922024Assets 2025: $1,326,079Liabilities 2025: $3,413,466Net Assets 2025: -$2,087,3872025

Highlighted filing

2021

Assets$1,546,283
Liabilities$3,402,251
Net Assets-$1,855,968
Open 2021 Filing

Operations Trend

Revenue Growth56th percentile

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

$600K$400K$200K$0-$200KExpenses 2011: $411,4192011Expenses 2012: $390,5662012Expenses 2013: $413,8542013Revenue 2014: $348,813Expenses 2014: $436,573Net Income 2014: -$87,7602014Revenue 2015: $363,571Expenses 2015: $428,339Net Income 2015: -$64,7682015Revenue 2016: $378,025Expenses 2016: $433,758Net Income 2016: -$55,7332016Revenue 2017: $379,326Expenses 2017: $432,467Net Income 2017: -$53,1412017Revenue 2018: $389,309Expenses 2018: $433,140Net Income 2018: -$43,8312018Revenue 2019: $392,850Expenses 2019: $447,765Net Income 2019: -$54,9152019Revenue 2020: $399,401Expenses 2020: $448,244Net Income 2020: -$48,8432020Revenue 2021: $411,164Expenses 2021: $447,923Net Income 2021: -$36,7592021Revenue 2022: $409,692Expenses 2022: $485,826Net Income 2022: -$76,1342022Revenue 2023: $410,859Expenses 2023: $451,380Net Income 2023: -$40,5212023Revenue 2024: $436,513Expenses 2024: $487,682Net Income 2024: -$51,1692024Revenue 2025: $451,792Expenses 2025: $515,387Net Income 2025: -$63,5952025

Highlighted filing

2021

Revenue$411,164
Expenses$447,923
Net Income-$36,759
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Dec 10, 2021
Return Version
2020v4.1
Gross Receipts
$412,344
Mission and Program Overview

Mission

The not for profit corporation was organized to own and operate a 60 unit apartment community in winston salem, nc known as assembly terrace apartments. It was organized pursuant to section 202 of the national housing act as amended and has entered into the standard fha regulatory agreements, which govern the operation of the community, with the federal housing administration section of hud. A project rental assistance contract (prac) provides rent assistance for low income families (or persons).

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,351,097$1,281,115▼ $69,982
Investments Program Related$150,802$171,515▲ $20,713
Cash and Non-Interest-Bearing Accounts$12,820$14,954▲ $2,134
Accounts Receivable$2,565$6,367▲ $3,802
Total Assets$1,583,810$1,546,283▼ $37,527
Other Assets Total$66,526$72,332▲ $5,806
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,367,400$3,367,400→ $0
Other Liabilities$21,182$21,837▲ $655
Accounts Payable and Accrued Expenses$13,985$12,766▼ $1,219
Deferred Revenue$452$248▼ $204
Total Liabilities$3,403,019$3,402,251▼ $768
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,819,209$-1,855,968▼ $36,759
Total Net Assets Fund Balance$-1,819,209$-1,855,968▼ $36,759
Total Liabilities and Net Assets / Fund Balance$1,583,810$1,546,283▼ $37,527

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,018,569$1,976,149$2,994,718
Land$238,765-$238,765
Leasehold Improvements$23,594$124,913$148,507
Equipment$187$50,670$50,857
Investment Program Related Org$151,400--
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Dr Leila VickersPresident
Boris ElderVice President
Jere PearsallVice President - Former
Briana BrewerDirector
Cynthia EverhartDirector
David HensonDirector
Rodney AshbyDirector
Scipio TuckerDirector
Shirley Rhoades PinnixDirector
Timothy BeemanDirector
Clint JettDirector - Former
Revenue and Support

Revenue Composition

Contributions and Grants
$170,254
Program Service Revenue
$227,393
Investment Income
$-1,086
Other Revenue
$14,603
Change in Net Assets
$-36,759

Audited Revenue Reconciliation

Revenue per Audited Statements
$409,963
Revenue Not Reported on Financial Statements
$1,201
Revenue Not Reported on Form 990
$1,180
Other Revenue Adjustments
$1,201
Total Revenue per Audited Statements
$411,143
Total Revenue per Form 990
$411,164
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$447,923
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
Occupancy$232,176--$232,176
Depreciation Depletion$77,543--$77,543
Fees for Services Management-$53,807-$53,807
Office Expenses-$17,498-$17,498
Fees for Services Accounting-$5,364-$5,364
Information Technology-$1,930-$1,930
Insurance-$1,504-$1,504
Advertising-$950-$950
Other Expenses$165$56,876-$165
Conferences and Meetings-$109-$109
Travel-$1-$1
Total Functional Expenses$309,884$138,039$0$447,923

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$447,923
Expenses per Audited Statements$446,195
Total Expenses per Audited Statements$446,195
Expenses Not Reported on Financial Statements$1,728
Other Expense Adjustments$1,728
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
Security Deposits$18,871
Accrued Wages Payable$2,762
Accrued Payroll Taxes Payable$204
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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

“Assembly terrace, inc. Is managed by community management corporation, a professional property management company. Community mangement corporation has a project owner's & management certification for multifamily housing projects with the us department of housing and urban development. Under this certification hud has aproved community management corporation to manage the assembly terrace apartments property. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.”

Form 990, Part VI, Section B, Line 11B

“The outside independent accountant fowards a draft of form 990 to the management company, which in turn disperses a complete copy of the 990 to the board of directors for their review. Upon board approval, the board president notifies the management company to communicate approval to the outside accountant, which issues a final return for the board president to sign and file.”

Form 990, Part VI, Section B, Line 15

“The organization does not compensate officers or directors (see page 7, part vii). If the organization revises their position on compensation of officers and directors, an additional policy will be drafted at that time”

Form 990, Part VI, Section C, Line 19

“Form 990 and all related financial and policy information are made available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Assembly Terrace Inc
EIN
58-2044986
Phone
3367650424
Address
3731 UNIVERSITY PARKWAY, WINSTON SALEM, NC 27106-4018

Signing Officer

Name
Dr Leila Vickers
Title
President
Phone
3367650424
Signed
2021-12-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Leila Vickers
Formed
1993
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer
Jacob a Sowers
Phone
3178485700
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII Line 2C

“Overview of audit funtion included on page 9 in current year other revenue: the management company receives a copy of the audit. Prior to the finalization of the audit, a copy of the audit is given to all of the board members for their comments. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”

Financial Statement Notes

PART X, LINE 2:

“The corporation is exempt from federal income tax under section 501(c)(3) of the internal revenue code and state income tax and has been classified as an other than private foundation. Accordingly, no provision for federal and state taxes on revenue and income has been recognized in the accompanying financial statements. Generally, the federal and state tax returns were subject to examinations from the three years after the later of the original or extended due date or the date filed with the applicable tax authority.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Tax g/l on disposal of asset 1,180.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Book g/l on disposal of asset 1,201.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Book to tax depreciation expense difference 1,728.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDENT - FORMER
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR - FORMER
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 60 UNIT APARTMENT COMMUNITY IN WINSTON SALEM, NC KNOWN AS ASSEMBLY TERRACE APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS).
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt03367400
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt03367400
IRS990/NetAssetsOrFundBalancesBOYAmt0-1819209
IRS990/NetAssetsOrFundBalancesEOYAmt0-1855968
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-1180
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-1180
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-1819209
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-1855968
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0232176
IRS990/OccupancyGrp/TotalAmt0232176
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt017498
IRS990/OfficeExpensesGrp/TotalAmt017498
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt066526
IRS990/OtherAssetsTotalGrp/EOYAmt072332
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MTG CO EMPLOYEE CHARGEB
IRS990/OtherExpensesGrp/Desc1BAD DEBTS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt056876
IRS990/OtherExpensesGrp/ProgramServicesAmt0165
IRS990/OtherExpensesGrp/TotalAmt056876
IRS990/OtherExpensesGrp/TotalAmt1165
IRS990/OtherLiabilitiesGrp/BOYAmt021182
IRS990/OtherLiabilitiesGrp/EOYAmt021837
IRS990/OtherRevenueMiscGrp/BusinessCd0531110
IRS990/OtherRevenueMiscGrp/BusinessCd1531110
IRS990/OtherRevenueMiscGrp/BusinessCd2531110
IRS990/OtherRevenueMiscGrp/Desc0LAUNDRY & VENDING
IRS990/OtherRevenueMiscGrp/Desc1TENANT CHARGES
IRS990/OtherRevenueMiscGrp/Desc2OTHER REVENUE-MISC.
IRS990/OtherRevenueMiscGrp/ExclusionAmt05437
IRS990/OtherRevenueMiscGrp/ExclusionAmt14872
IRS990/OtherRevenueMiscGrp/ExclusionAmt24294
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt05437
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt14872
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt24294
IRS990/OtherRevenueTotalAmt014603
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DR LEILA VICKERS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0227393
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0227393
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0162342
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-1098
IRS990/PYOtherExpensesAmt0448244
IRS990/PYOtherRevenueAmt08331
IRS990/PYProgramServiceRevenueAmt0229826
IRS990/PYRevenuesLessExpensesAmt0-48843
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0448244
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0399401
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-36759
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0226213
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME CONSISTS OF TENANT CHARGES, LAUNDRY AND VENDING CHARGES, INSURANCE PROCEEDS, AND OTHER INCOME ITEMS FOR SERVICES PROVIDED FOR THE CONVENIENCE OF THE TENANTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1INCLUDED ON PAGE 9 LINE 7C IS A LOSS ON DISPOSAL OF DEPRECIABLE ASSETS OF $1,180. THE LOSS IS NOT BEING INCLUDED ON SCHEDULE A, PART III, LINE 10A BECAUSE IT DOES NOT MEET THE DEFINITION OF SUPPORT AS DEFINED IN SECTION 509(D) OF THE INTERNAL REVENUE CODE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART III, LINE 12:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1FORM 990, PAGE 9, LINE 7C
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0170254
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0162342
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0171840
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0164331
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0160402
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0829169
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt094
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0260
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0230
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt052
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt050
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0686
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0227393
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0229826
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0218433
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0217301
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0213448
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01106401
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt094
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0260
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0230
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt052
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt050
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0686
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00030
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt014603
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt08331
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt010301
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt07625
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt05426
IRS990ScheduleA/OtherIncome509Grp/TotalAmt046286
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97630
IRS990ScheduleA/PublicSupportPY509Pct00.98000
IRS990ScheduleA/PublicSupportTotal509Amt01935570
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0397647
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0392168
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0390273
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0381632
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0373850
IRS990ScheduleA/Total509Grp/TotalAmt01935570
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0412344
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0400759
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0400804
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0389309
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0379326
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01982542
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/BookValueAmt01018569
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01976149
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02994718
IRS990ScheduleD/EquipmentGrp/BookValueAmt0187
IRS990ScheduleD/EquipmentGrp/DepreciationAmt050670
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt050857
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01728
IRS990ScheduleD/ExpensesSubtotalAmt0446195
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt020115
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1151400
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0MORTGAGE ESCROW DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1RESERVE REPLACEMENT FUND
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt0238765
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0238765
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt023594
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0124913
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0148507
IRS990ScheduleD/OtherExpensesNotIncludedAmt01728
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018871
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12762
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2204
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED WAGES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED PAYROLL TAXES PAYABLE
IRS990ScheduleD/OtherRevenueAmt01180
IRS990ScheduleD/OtherRevenuesNotIncludedAmt01201
IRS990ScheduleD/RevenueNotReportedAmt01180
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt01201
IRS990ScheduleD/RevenueSubtotalAmt0409963
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1TAX G/L ON DISPOSAL OF ASSET 1,180.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2BOOK G/L ON DISPOSAL OF ASSET 1,201.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3BOOK TO TAX DEPRECIATION EXPENSE DIFFERENCE 1,728.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01281115
IRS990ScheduleD/TotalBookValueProgramRltdAmt0171515
IRS990ScheduleD/TotalExpensesPerForm990Amt0447923
IRS990ScheduleD/TotalLiabilityAmt021837
IRS990ScheduleD/TotalRevenuePerForm990Amt0411164
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0411143
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0446195
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ASSEMBLY TERRACE, INC. IS MANAGED BY COMMUNITY MANAGEMENT CORPORATION, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. COMMUNITY MANGEMENT CORPORATION HAS A PROJECT OWNER'S & MANAGEMENT CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION HUD HAS APROVED COMMUNITY MANAGEMENT CORPORATION TO MANAGE THE ASSEMBLY TERRACE APARTMENTS PROPERTY. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OUTSIDE INDEPENDENT ACCOUNTANT FOWARDS A DRAFT OF FORM 990 TO THE MANAGEMENT COMPANY, WHICH IN TURN DISPERSES A COMPLETE COPY OF THE 990 TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. UPON BOARD APPROVAL, THE BOARD PRESIDENT NOTIFIES THE MANAGEMENT COMPANY TO COMMUNICATE APPROVAL TO THE OUTSIDE ACCOUNTANT, WHICH ISSUES A FINAL RETURN FOR THE BOARD PRESIDENT TO SIGN AND FILE.

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,546,283
Liabilities
$3,402,251
Net assets
-$1,855,968
Revenue
$411,164
Expenses
$447,923
Net income
-$36,759
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.33$3.41$2.09$0.45$0.52$0.06
2024Summary only. Only limited summary data is available for this year.$1.39$3.41$2.02$0.44$0.49$0.05
2023Summary only. Only limited summary data is available for this year.$1.43$3.41$1.97$0.41$0.45$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$3.40$1.93$0.41$0.49$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.55$3.40$1.86$0.41$0.45$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.58$3.40$1.82$0.40$0.45$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$3.40$1.77$0.39$0.45$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.70$3.42$1.72$0.39$0.43$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.73$3.40$1.67$0.38$0.43$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.79$3.41$1.62$0.38$0.43$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.84$3.40$1.56$0.36$0.43$0.06
2014Detailed filing. Detailed filing data is available for this year.$1.92$3.42$1.50$0.35$0.44$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.99$3.40$1.41$0.41
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$3.40$1.35$0.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$3.40$1.31$0.41