Civic Intelligence

Mount Carmel Gardens Inc

990 • Fiscal year 2015 • EIN 59-1284358

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 14, 2015

Organization ProfileWWW.MOUNTCARMELGARDENS.ORG
5846 Mount Carmel TerraceJacksonville, FL 32216-4998

(904) 733-6696

Siviq Scores

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

Liabilities / Assets

97th percentile

1.72x

Higher debt load relative to assets than 97% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

93rd percentile

3.57x

Higher debt load relative to revenue than 93% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

31st percentile

-3.0%

Higher net margin than 31% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

33rd percentile

-2.6%

Faster asset growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

74th percentile

18%

Faster revenue growth than 74% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$3,094,402

Down $82,675 (-2.6%) from 2014

Net Assets

Down

-$2,213,898

Down $45,062 (-2.1%) from 2014

Liabilities

Down

$5,308,300

Down $37,613 (-0.7%) from 2014

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin31st percentile

Revenue

Up

$1,487,938

Up $228,538 (+18%) from 2014

Expenses

Down

$1,533,000

Down $39,778 (-2.5%) from 2014

Net Income

Up

-$45,062

Up $268,316 (+86%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $4,106,219Liabilities 2011: $5,514,600Net Assets 2011: -$1,408,3812011Assets 2012: $3,861,432Liabilities 2012: $5,408,655Net Assets 2012: -$1,547,2232012Assets 2013: $3,553,351Liabilities 2013: $5,408,809Net Assets 2013: -$1,855,4582013Assets 2014: $3,177,077Liabilities 2014: $5,345,913Net Assets 2014: -$2,168,8362014Assets 2015: $3,094,402Liabilities 2015: $5,308,300Net Assets 2015: -$2,213,8982015Assets 2016: $3,017,349Liabilities 2016: $5,283,984Net Assets 2016: -$2,266,6352016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2015

Assets$3,094,402
Liabilities$5,308,300
Net Assets-$2,213,898
Open 2015 Filing

Operations Trend

Revenue Growth74th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,496,245Expenses 2011: $1,599,562Net Income 2011: -$103,3172011Revenue 2012: $1,472,963Expenses 2012: $1,610,444Net Income 2012: -$137,4812012Expenses 2013: $1,697,2432013Revenue 2014: $1,259,400Expenses 2014: $1,572,778Net Income 2014: -$313,3782014Revenue 2015: $1,487,938Expenses 2015: $1,533,000Net Income 2015: -$45,0622015Revenue 2016: $1,585,515Expenses 2016: $1,638,252Net Income 2016: -$52,7372016Revenue 2017: $2,718,851Expenses 2017: $419,634Net Income 2017: $2,299,2172017

Highlighted filing

2015

Revenue$1,487,938
Expenses$1,533,000
Net Income-$45,062
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 14, 2015
Return Version
2014v5.0
Gross Receipts
$1,508,977
Mission and Program Overview

Mission

Mount carmel gardens, inc. Is a non-profit organization formed in 1965. The organization owns and operates a 208 unit apartment complex under code sec 236 of the national housing act. The organization provides housing and other related services to low and moderate income persons and is regulated by the dpeartment of housing and urban development as to rent charges and operating expenses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,672,117$2,511,633▼ $160,484
Intangible Assets$181,424$174,333▼ $7,091
Prepaid Expenses and Deferred Charges$67,610$65,338▼ $2,272
Cash and Non-Interest-Bearing Accounts$1,124$39,928▲ $38,804
Accounts Receivable$1,310$9,899▲ $8,589
Total Assets$3,177,076$3,094,402▼ $82,674
Other Assets Total$253,491$293,271▲ $39,780
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,065,336$5,020,754▼ $44,582
Accounts Payable and Accrued Expenses$172,207$162,975▼ $9,232
Other Liabilities$88,408$104,010▲ $15,602
Deferred Revenue$19,961$20,561▲ $600
Total Liabilities$5,345,912$5,308,300▼ $37,612
Net Assets / Fund Balance
Unrestricted Net Assets$-2,168,836$-2,213,898▼ $45,062
Total Net Assets Fund Balance$-2,168,836$-2,213,898▼ $45,062
Total Liabilities and Net Assets / Fund Balance$3,177,076$3,094,402▼ $82,674

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,407,715$6,581,542$8,989,257
Equipment$9,918$282,303$292,221
Land$94,000-$94,000
Other Assets Org$2,350--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Helen WerkingPresident
Marcy DrossDirector
Mike WeinsteinDirector
Angela PracherSecretary
Ken TannenbaumTreasurer
Neil AmbrusVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$668,332
Program Service Revenue
$745,370
Investment Income
$197
Other Revenue
$74,039
Change in Net Assets
$-45,062

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,487,938
Total Revenue per Audited Statements
$1,487,938
Total Revenue per Form 990
$1,487,938
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,294,461
Salaries, Compensation, and Employee Benefits$238,539
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$329,106--$329,106
Other Salaries and Wages$96,140$115,311-$211,451
Interest$198,028--$198,028
Depreciation Depletion$167,578--$167,578
Insurance$93,127--$93,127
Fees for Services Management-$84,589-$84,589
Office Expenses-$30,539-$30,539
Advertising-$17,920-$17,920
Payroll Taxes$7,563$9,071-$16,634
Fees for Services Accounting-$14,702-$14,702
Other Employee Benefits$4,753$5,701-$10,454
Other Expenses$2,244--$2,244
All Other Expenses$251$718-$969
Total Functional Expenses$1,254,449$278,551$0$1,533,000

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,533,000
Total Expenses per Audited Statements$1,533,000
Total Expenses per Form 990$1,533,000
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 Payable$63,769
Accrued Interest Payable -3rd Mortga$34,412
Pet Deposits$5,829
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is prepared by a certified public accountant and is reviewed by officers and board or board designate.”

Form 990, Page 6, Part VI, Line 12C

“An annual questionaire is distributed.”

Form 990, Page 6, Part VI, Line 15A

“All compensation packages are based on comparability data and are subject to approval of the board of directors. All payroll is handled and processed through a management company. All "employees" are deemed employees of the management company.”

Form 990, Page 6, Part VI, Line 15B

“All compensation packages are based on comparability packages and are subject to approval by the board of directors. All paid positions are handled through a management company and such positions are deemed employees of the management company for reporting purposes.”

Form 990, Page 6, Part VI, Line 19

“Documents are located on premise and available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Mount Carmel Gardens Inc
EIN
59-1284358
Phone
9047336696
Address
5846 MOUNT CARMEL TERRACE, JACKSONVILLE, FL 32216-4998

Signing Officer

Name
Helen Werking
Title
President
Phone
9047336696
Signed
2015-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Helen Werking
Formed
1969
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Ralston & Company Pa CPA
Address
8777 SAN JOSE BLVD BLDG E, JACKSONVILLE, FL 32217-4213
Preparer
Michael R Ritch
Phone
9047300440
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Mount carmel gardens, inc. Is a non-profit organization formed in 1965. The organization owns and operates a 208 unit apartment complex under code sec 236 of the national housing act. The organization provides housing and other related services to low and moderate income persons and is regulated by the dpeartment of housing and urban development as to rent charges and operating expenses.”

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0787031
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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus2YearsAmt052141
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt054648
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt06581542
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IRS990ScheduleD/EquipmentGrp/BookValueAmt09918
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0282303
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IRS990ScheduleD/ExpensesSubtotalAmt01533000
IRS990ScheduleD/LandGrp/BookValueAmt094000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt094000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0173295
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt169598
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt239017
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt35367
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt43644
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt52350
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1CENTERBANK - SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2MORTGAGE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESERVE FOR REPLACEMENT 3
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4MIP ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5SECURITY DEPOSIT - PEOPLES GAS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6RESTRICTED DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt063769
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt134412
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt25829
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST PAYABLE -3RD MORTGA
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PET DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt01487938
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02511633
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0293271
IRS990ScheduleD/TotalExpensesPerForm990Amt01533000
IRS990ScheduleD/TotalLiabilityAmt0104010
IRS990ScheduleD/TotalRevenuePerForm990Amt01487938
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MOUNT CARMEL GARDENS, INC. IS A NON-PROFIT ORGANIZATION FORMED IN 1965. THE ORGANIZATION OWNS AND OPERATES A 208 UNIT APARTMENT COMPLEX UNDER CODE SEC 236 OF THE NATIONAL HOUSING ACT. THE ORGANIZATION PROVIDES HOUSING AND OTHER RELATED SERVICES TO LOW AND MODERATE INCOME PERSONS AND IS REGULATED BY THE DPEARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING EXPENSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PREPARED BY A CERTIFIED PUBLIC ACCOUNTANT AND IS REVIEWED BY OFFICERS AND BOARD OR BOARD DESIGNATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN ANNUAL QUESTIONAIRE IS DISTRIBUTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL COMPENSATION PACKAGES ARE BASED ON COMPARABILITY DATA AND ARE SUBJECT TO APPROVAL OF THE BOARD OF DIRECTORS. ALL PAYROLL IS HANDLED AND PROCESSED THROUGH A MANAGEMENT COMPANY. ALL "EMPLOYEES" ARE DEEMED EMPLOYEES OF THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL COMPENSATION PACKAGES ARE BASED ON COMPARABILITY PACKAGES AND ARE SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. ALL PAID POSITIONS ARE HANDLED THROUGH A MANAGEMENT COMPANY AND SUCH POSITIONS ARE DEEMED EMPLOYEES OF THE MANAGEMENT COMPANY FOR REPORTING PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE LOCATED ON PREMISE AND AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01254449
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03094402
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IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2168836
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2213898
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05846 MOUNT CARMEL TERRACE
IRS990/USAddress/CityNm0JACKSONVILLE
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd0322164998
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.MOUNTCARMELGARDENS.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HELEN WERKING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09047336696
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MOUNT CARMEL GARDENS INC
ReturnHeader/Filer/BusinessNameControlTxt0MOUN
ReturnHeader/Filer/EIN0591284358
ReturnHeader/Filer/PhoneNum09047336696
ReturnHeader/Filer/USAddress/AddressLine1Txt05846 MOUNT CARMEL TERRACE
ReturnHeader/Filer/USAddress/CityNm0JACKSONVILLE
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0591514060
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RALSTON & COMPANY PA CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08777 SAN JOSE BLVD BLDG E
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0JACKSONVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$3,094,402
Liabilities
$5,308,300
Net assets
-$2,213,898
Revenue
$1,487,938
Expenses
$1,533,000
Net income
-$45,062
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$2.72$0.42$2.30
2016Detailed filing. Detailed filing data is available for this year.$3.02$5.28$2.27$1.59$1.64$0.05
2015Detailed filing. Detailed filing data is available for this year.$3.09$5.31$2.21$1.49$1.53$0.05
2014Detailed filing. Detailed filing data is available for this year.$3.18$5.35$2.17$1.26$1.57$0.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.55$5.41$1.86$1.70
2012Summary only. Only limited summary data is available for this year.$3.86$5.41$1.55$1.47$1.61$0.14
2011Summary only. Only limited summary data is available for this year.$4.11$5.51$1.41$1.50$1.60$0.10