Civic Intelligence

Emerald Coast Housing II Inc.

990 • Fiscal year 2016 • EIN 59-3316619

Oct 01, 2015 to Sep 30, 2016 • Filed on Feb 24, 2017

Organization ProfileN/A
205 Brooks Street Ste 201 No 201Fort Walton Beach, FL 32548

(850) 664-6000

Siviq Scores

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

Liabilities / Assets

98th percentile

1.61x

Higher debt load relative to assets than 98% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

7.80x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

7th percentile

-44%

Higher net margin than 7% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

13th percentile

$39,300

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

34th percentile

-1.3%

Faster asset growth than 34% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

36th percentile

-1.4%

Faster revenue growth than 36% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$17,251,585

Down $221,321 (-1.3%) from 2015

Net Assets

Down

-$10,485,614

Down $1,557,286 (-17%) from 2015

Liabilities

Up

$27,737,199

Up $1,335,965 (+5.1%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin7th percentile

Revenue

Down

$3,555,599

Down $49,864 (-1.4%) from 2015

Expenses

Up

$5,112,878

Up $751,618 (+17%) from 2015

Net Income

Down

-$1,557,279

Down $801,482 (-106%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$30M$20M$10M$0-$10M-$20MAssets 2010: $20,786,070Liabilities 2010: $24,793,387Net Assets 2010: -$4,007,3172010Assets 2011: $20,113,398Liabilities 2011: $25,403,021Net Assets 2011: -$5,289,6232011Assets 2012: $19,096,069Liabilities 2012: $25,609,038Net Assets 2012: -$6,512,9692012Assets 2013: $18,569,610Liabilities 2013: $26,138,824Net Assets 2013: -$7,569,2142013Assets 2014: $18,117,827Liabilities 2014: $26,290,358Net Assets 2014: -$8,172,5312014Assets 2015: $17,472,906Liabilities 2015: $26,401,234Net Assets 2015: -$8,928,3282015Assets 2016: $17,251,585Liabilities 2016: $27,737,199Net Assets 2016: -$10,485,6142016Assets 2017: $16,537,269Liabilities 2017: $28,030,992Net Assets 2017: -$11,493,7232017Assets 2018: $9,276,854Liabilities 2018: $12,319,272Net Assets 2018: -$3,042,4182018Assets 2019: $9,092,329Liabilities 2019: $12,147,747Net Assets 2019: -$3,055,4182019Assets 2020: $9,442,513Liabilities 2020: $11,862,958Net Assets 2020: -$2,420,4452020Assets 2021: $9,400,072Liabilities 2021: $11,735,000Net Assets 2021: -$2,334,9282021Assets 2022: $10,205,346Liabilities 2022: $11,570,698Net Assets 2022: -$1,365,3522022

Highlighted filing

2016

Assets$17,251,585
Liabilities$27,737,199
Net Assets-$10,485,614
Open 2016 Filing

Operations Trend

Revenue Growth36th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $4,223,5612010Expenses 2011: $4,315,2172011Expenses 2012: $4,150,7552012Expenses 2013: $4,160,9272013Revenue 2014: $3,607,130Expenses 2014: $4,210,447Net Income 2014: -$603,3172014Revenue 2015: $3,605,463Expenses 2015: $4,361,260Net Income 2015: -$755,7972015Revenue 2016: $3,555,599Expenses 2016: $5,112,878Net Income 2016: -$1,557,2792016Revenue 2017: $3,449,410Expenses 2017: $4,457,519Net Income 2017: -$1,008,1092017Revenue 2018: $12,209,189Expenses 2018: $3,757,884Net Income 2018: $8,451,3052018Revenue 2019: $2,238,814Expenses 2019: $2,251,814Net Income 2019: -$13,0002019Revenue 2020: $3,012,001Expenses 2020: $2,377,028Net Income 2020: $634,9732020Revenue 2021: $2,502,765Expenses 2021: $2,417,248Net Income 2021: $85,5172021Revenue 2022: $3,402,859Expenses 2022: $2,433,283Net Income 2022: $969,5762022

Highlighted filing

2016

Revenue$3,555,599
Expenses$5,112,878
Net Income-$1,557,279
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Feb 24, 2017
Return Version
2015v3.0
Gross Receipts
$3,555,599
Mission and Program Overview

Mission

The corporation shall provide positive housing opportunities to those families of low and modest financial means and shall strive to promote self-respect and self-reliance among its residents while maintaining the integrity of the properties and the financial goals established by the board of directors.this mission shall be accomplished through the competent, professional management, active participation by the board of directors, the residents and the community, all working together to care for the property and each other.

See Schedule O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,289,371$13,905,579▼ $383,792
Savings and Temporary Cash Investments$1,651,052$1,710,955▲ $59,903
Intangible Assets$1,028,496$778,149▼ $250,347
Cash and Non-Interest-Bearing Accounts$203,126$686,363▲ $483,237
Accounts Receivable$22,203$53,736▲ $31,533
Prepaid Expenses and Deferred Charges$37,797$28,057▼ $9,740
Total Assets$17,472,906$17,251,585▼ $221,321
Other Assets Total$240,861$88,746▼ $152,115
Liabilities
Tax Exempt Bond Liabilities$18,546,250$19,830,000▲ $1,283,750
Accounts Payable and Accrued Expenses$7,065,647$7,106,320▲ $40,673
Other Liabilities$539,844$539,844→ $0
Escrow Account Liability$240,860$250,250▲ $9,390
Deferred Revenue$8,633$10,785▲ $2,152
Total Liabilities$26,401,234$27,737,199▲ $1,335,965
Net Assets / Fund Balance
Unrestricted Net Assets$-8,928,328$-10,485,614▼ $1,557,286
Total Net Assets Fund Balance$-8,928,328$-10,485,614▼ $1,557,286
Total Liabilities and Net Assets / Fund Balance$17,472,906$17,251,585▼ $221,321

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,259,530$7,425,679$18,685,209
Land$2,646,049-$2,646,049
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleBaseOtherTotal
Laura WrightExecutive Director$9,825$29,475$39,300

Board Members and Trustees

NameTitle
Benjamin PearcePresident
Rebecca FreemanSecretary/Vice President
Veneta FinleyDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Progressive Management of America IncManagement, Administration, and Maintena205 Brooks Street SE Suite 201, Fort Walton Beach, FL 32548$896,337
Revenue and Support

Revenue Composition

Contributions and Grants
$15,066
Program Service Revenue
$3,528,169
Investment Income
$12,364
Other Revenue
$0
All Other Contributions
$15,066
Change in Net Assets
$-1,557,279

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,400,726
Revenue Not Reported on Financial Statements
$154,873
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$154,873
Total Revenue per Audited Statements
$3,400,726
Total Revenue per Form 990
$3,555,599
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,112,878
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$1,099,436--$1,099,436
Occupancy$813,061--$813,061
Depreciation Depletion$641,636--$641,636
Fees for Services Other$454,652$108,643-$563,295
Insurance$261,191--$261,191
Fees for Services Management$184,508--$184,508
Fees for Services Accounting-$66,039-$66,039
Office Expenses-$20,982-$20,982
Other Expenses$3,963$7,990-$3,963
Advertising$2,086--$2,086
Total Functional Expenses$4,877,810$235,068$0$5,112,878

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$5,112,878
Expenses per Audited Statements$4,958,005
Total Expenses per Audited Statements$4,958,005
Expenses Not Reported on Financial Statements$154,873
Other Expense Adjustments$154,873
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Laura B WrightLaura B. Wright, Executive DirectorIndividual receives as an independent contractor compensation from all related organizations (reported on Schedule R, Part II) for bond oversight reports.No$9,825
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note payable to management company$539,844

Bond Issues

BondIssuerIssuedIssue PricePurpose
ATown of Shalimar Florida2015-10-01$12,170,000Refinance bond for residential housing facilities for low income families

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$13,339,992$151,822$11,437,670$293,850

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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
Yes
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 Royale Project entered into a 5-year contract dated May 19, 2015, with Progressive Management of America, Inc to provide all management services for apartments owned by Blackwater Housing Corporation. The Captains Quarters Project entered into a 5-year contract dated May 19, 2010, with Progressive Management of America, Inc to provide all management services for apartments owned by Emerald Coast Housing II, Inc.”

Form 990, Part VI, Section B, line 11

“Form 990 is provided to the Board for their review and approval before it is filed with the Internal Revenue Service.”

Form 990, Part VI, Section B, line 12C

“All policies including the conflict of interest policy are circulated annually to the entire Board of Directors for their review.”

Form 990, Part VI, Section B, line 15

“The organization adopted compensation policy on May 27, 2009. The process to determine compensation for the Executive director, key employees and officers includes 3 elements: 1) review and approval by the Board of Directors of the organization; 2) use of data as to comparable compensation; 3) contemporaneous documentation and recordkeeping.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents available to the public through its website and upon request.”

Filing and Contact Details

Filer

Filer Name
Emerald Coast Housing II Inc
EIN
59-3316619
Phone
8506646000
Address
205 Brooks Street Ste 201 No 201, Fort Walton Beach, FL 32548

Signing Officer

Name
Laura Wright
Title
Executive Director
Phone
8506646000
Signed
2017-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Wright
Formed
1996
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
4

Preparer

Firm
Warren Averett LLC
Address
45 Eglin Parkway Suite 301, Ft Walton Beach, FL 32548
Preparer
Kelley Chamblin CPA
Phone
8502445121
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Other Fees: Program service expenses 454,652. Management and general expenses 108,643. Fundraising expenses 0. Total expenses 563,295.”

Form 990, Part XI, line 9:

“Rounding -7.”

Form 990, Part XII, Line 2C:

“Form 990, Part XI, Line 2C: The organziation has a committee that assumes responsiblilty for oversight of the audit and selection of an independent accountant.”

Financial Statement Notes

Part IV, Line 2B:

“Escrow account for security deposits of tenants.”

Part XI, Line 4B - Other Adjustments:

“Reclassification 154,873.”

Part XII, Line 4B - Other Adjustments:

“Reclassification 154,873.”

Raw XML AppendixShowing 400 of 580 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0Captains quarters project- provide safe and affordable housing to low and moderate income families in Florida. This project consists of 16 properties with 355 apartment units in Okaloosa County, Florida
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IRS990/ProgSrvcAccomActy2Grp/Desc0Royale project- provide safe and affordable housing to low and moderate income families in Florida. This project consists of 3 properties with 215 apartment units in Okaloosa County, Florida
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IRS990/PYProgramServiceRevenueAmt03536725
IRS990/PYRevenuesLessExpensesAmt0-755797
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt04361260
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03605463
IRS990/ReconcilationRevenueExpnssAmt0-1557279
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02274286
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01651052
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01710955
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt015066
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt060266
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt059957
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt050395
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt022294
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0207978
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt012364
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt08472
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt08278
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt08892
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt06749
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt044755
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt03528169
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt03536725
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03538895
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt03042586
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02887097
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt016533472
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt012364
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt08472
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt08278
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt08892
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt06749
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt044755
IRS990ScheduleA/InvestmentIncomeCYPct00.00270
IRS990ScheduleA/InvestmentIncomePYPct00.00240
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt02809
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt011269
IRS990ScheduleA/OtherIncome509Grp/TotalAmt014078
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99650
IRS990ScheduleA/PublicSupportPY509Pct00.99630
IRS990ScheduleA/PublicSupportTotal509Amt016741450
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt03543235
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt03596991
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt03598852
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt03092981
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt02909391
IRS990ScheduleA/Total509Grp/TotalAmt016741450
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt03555599
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt03605463
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt03607130
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt03104682
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02927409
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt016800283
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/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt011259530
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07425679
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt018685209
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0154873
IRS990ScheduleD/ExpensesSubtotalAmt04958005
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt02646049
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02646049
IRS990ScheduleD/OtherExpensesNotIncludedAmt0154873
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0539844
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Note payable to management company
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0154873
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0154873
IRS990ScheduleD/RevenueSubtotalAmt03400726
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Escrow account for security deposits of tenants.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Reclassification 154,873.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Reclassification 154,873.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013905579
IRS990ScheduleD/TotalExpensesPerForm990Amt05112878
IRS990ScheduleD/TotalLiabilityAmt0539844
IRS990ScheduleD/TotalRevenuePerForm990Amt03555599
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03400726
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04958005
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02015-10-01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0596012510
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum000081926P
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt012170000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0Town of Shalimar Florida
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0Refinance bond for residential housing facilities for low income families
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt0355000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0747400
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0293850
IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt0151822
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt011437670
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt013339992
IRS990ScheduleK/TaxExemptBondsProceedsGrp/WorkingCapitalExpendituresAmt050000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Laura B Wright
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Laura B. Wright, Executive Director
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt09825
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Individual receives as an independent contractor compensation from all related organizations (reported on Schedule R, Part II) for bond oversight reports.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Royale Project entered into a 5-year contract dated May 19, 2015, with Progressive Management of America, Inc to provide all management services for apartments owned by Blackwater Housing Corporation. The Captains Quarters Project entered into a 5-year contract dated May 19, 2010, with Progressive Management of America, Inc to provide all management services for apartments owned by Emerald Coast Housing II, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is provided to the Board for their review and approval before it is filed with the Internal Revenue Service.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All policies including the conflict of interest policy are circulated annually to the entire Board of Directors for their review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization adopted compensation policy on May 27, 2009. The process to determine compensation for the Executive director, key employees and officers includes 3 elements: 1) review and approval by the Board of Directors of the organization; 2) use of data as to comparable compensation; 3) contemporaneous documentation and recordkeeping.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization makes its governing documents available to the public through its website and upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Other Fees: Program service expenses 454,652. Management and general expenses 108,643. Fundraising expenses 0. Total expenses 563,295.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Rounding -7.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Form 990, Part XI, Line 2C: The organziation has a committee that assumes responsiblilty for oversight of the audit and selection of an independent accountant.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, line 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part XII, Line 2c:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0501(c)3
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1501(c)3
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt2501(c)3
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt3501(c)3
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt4501(c)3

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,251,585
Liabilities
$27,737,199
Net assets
-$10,485,614
Revenue
$3,555,599
Expenses
$5,112,878
Net income
-$1,557,279
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$11.6$1.37$3.40$2.43$0.97
2021Detailed filing. Detailed filing data is available for this year.$9.40$11.7$2.33$2.50$2.42$0.09
2020Detailed filing. Detailed filing data is available for this year.$9.44$11.9$2.42$3.01$2.38$0.63
2019Detailed filing. Detailed filing data is available for this year.$9.09$12.1$3.06$2.24$2.25$0.01
2018Detailed filing. Detailed filing data is available for this year.$9.28$12.3$3.04$12.2$3.76$8.45
2017Detailed filing. Detailed filing data is available for this year.$16.5$28.0$11.5$3.45$4.46$1.01
2016Detailed filing. Detailed filing data is available for this year.$17.3$27.7$10.5$3.56$5.11$1.56
2015Detailed filing. Detailed filing data is available for this year.$17.5$26.4$8.93$3.61$4.36$0.76
2014Detailed filing. Detailed filing data is available for this year.$18.1$26.3$8.17$3.61$4.21$0.60
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.6$26.1$7.57$4.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.1$25.6$6.51$4.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.1$25.4$5.29$4.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.8$24.8$4.01$4.22