Civic Intelligence

Coastal Bay Properties Inc

EIN 59-3401549 • 501(c)3 • Tampa, FL

Profile

To provide low income housing to residents who experience difficulty accessing resources, including but not limited to, low income residents, veterans and residents from the hiv/aids population.

5508 North 50th Street Suite 1-ATampa, FL 33610

www.coastalbayproperties.org

Siviq Scores

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

Liabilities / Assets

85th percentile

0.58x

Higher debt load relative to assets than 85% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

98th percentile

7.88x

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

501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

2nd percentile

-241%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

10th percentile

-18%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-85%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,926,280

Down $409,605 (-18%) from 2018

Liabilities

Down

$1,108,452

Down $69,795 (-5.9%) from 2018

Net Assets

Down

$817,828

Down $339,810 (-29%) from 2018

Revenue

Down

$140,727

Down $810,857 (-85%) from 2018

Expenses

Down

$480,537

Down $143,123 (-23%) from 2018

Net Income

Down

-$339,810

Down $667,734 (-204%) from 2018

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $1,807,634Liabilities 2010: $2,099,544Net Assets 2010: -$291,9102010Assets 2011: $1,736,931Liabilities 2011: $2,233,506Net Assets 2011: -$496,5752011Assets 2012: $1,736,931Liabilities 2012: $2,233,506Net Assets 2012: -$496,5752012Assets 2013: $1,667,537Liabilities 2013: $707,037Net Assets 2013: $960,5002013Assets 2014: $1,851,454Liabilities 2014: $908,224Net Assets 2014: $943,2302014Assets 2015: $1,365,522Liabilities 2015: $271,692Net Assets 2015: $1,093,8302015Assets 2016: $2,378,114Liabilities 2016: $1,554,793Net Assets 2016: $823,3212016Assets 2017: $2,241,116Liabilities 2017: $1,411,402Net Assets 2017: $829,7142017Assets 2018: $2,335,885Liabilities 2018: $1,178,247Net Assets 2018: $1,157,6382018Assets 2019: $1,926,280Liabilities 2019: $1,108,452Net Assets 2019: $817,8282019

Highlighted filing

2019

Assets$1,926,280
Liabilities$1,108,452
Net Assets$817,828

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $440,3892010Expenses 2011: $581,9992011Expenses 2012: $02012Expenses 2013: $356,5102013Revenue 2014: $1,536,206Expenses 2014: $1,553,476Net Income 2014: -$17,2702014Revenue 2015: $1,332,682Expenses 2015: $1,182,082Net Income 2015: $150,6002015Revenue 2016: $922,195Expenses 2016: $1,192,704Net Income 2016: -$270,5092016Revenue 2017: $1,054,067Expenses 2017: $1,047,674Net Income 2017: $6,3932017Revenue 2018: $951,584Expenses 2018: $623,660Net Income 2018: $327,9242018Revenue 2019: $140,727Expenses 2019: $480,537Net Income 2019: -$339,8102019

Highlighted filing

2019

Revenue$140,727
Expenses$480,537
Net Income-$339,810

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Feb 10, 2020
Return Version
2018v3.1
Gross Receipts
$140,727
Mission and Program Overview

Mission

To provide low income housing to residents who experience difficultyaccessing resources, including but not limited to, low incomeresidents, veterans and residents from the hiv/aids population

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,946,402$1,749,286▼ $197,116
Rtn Earn Endowment Incm Other Fnds$1,157,638$817,828▼ $339,810
Accounts Receivable$380,698$168,371▼ $212,327
Cash and Non-Interest-Bearing Accounts$5,173$5,011▼ $162
Prepaid Expenses and Deferred Charges$3,612$3,612→ $0
Total Assets$2,335,885$1,926,280▼ $409,605
Liabilities
Other Liabilities$1,166,982$1,095,193▼ $71,789
Accounts Payable and Accrued Expenses$11,265$13,259▲ $1,994
Total Liabilities$1,178,247$1,108,452▼ $69,795
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,157,638$817,828▼ $339,810
Total Liabilities and Net Assets / Fund Balance$2,335,885$1,926,280▼ $409,605

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,151,006$1,019,115$2,170,121
Land$591,705-$591,705
Equipment$6,575-$6,575
Compensation and Service Providers

Board Members and Trustees

NameTitle
Tanya Johnson-gilchristPresident
Joel BarnumDirector
Derrick BlueCEO
Theresa LewisSecretary
Frank CrumTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$140,727
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-339,810
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$480,537
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$190,069--$190,069
Depreciation Depletion$185,655--$185,655
Fees for Services Accounting$32,774--$32,774
Advertising$24,594--$24,594
Office Expenses$20,735--$20,735
Travel$15,510--$15,510
Insurance$11,200--$11,200
Total Functional Expenses$480,537$0$0$480,537
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
Various$1,095,193
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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 governing body review Part VI line 11

Form 990, part vi, section c, line 11:forms 1023 and 990 will be made available upon request. Form 990, part vi, section b, line 11b:an independent cpa firm prepares form 990. The ceo and board treasurerreview and approve form 990 prior to filing with the i

Conflict of interest policy compliance Part VI line 12C

The organization makes its governing documents, conflict of interest policyand financial statements available to the public upon request form 990, part vi, section b, line 12c:the conflict of interest policy is provided to board members upon joiningthe board and at annual meetings for signature, indicating knowledge andcompliance with the policy.

CEO executive director top management comp Part VI line 15A

The organization does not provide compensation for directors, unless theboard agrees to pay for sole source service opportunities. Theorganization reviews 990 forms of similarly situated organizations forfunctionally comparable positions to determine compensation levels for keyemployees and officers

Other officer or key employee compensation Part VI line 15B

The organization does not provide compensation for directors, unless theboard agrees to pay for sole source service opportunities. Theorganization reviews 990 forms of similarly situated organizations forfunctionally comparable positions to determine compensation levels for keyemployees and officers

Governing documents etc available to public Part VI line 19

Form 990, part vi, section c, line 18:forms 1023 and 990 will be made available upon request.

Filing and Contact Details

Filer

Filer Name
Coastal Bay Properties Inc
EIN
59-3401549
Address
5508 North 50th Street Suite 1-A, Tampa, FL 33610
Doing Business As
Coastal Bay Properties Inc

Signing Officer

Name
Derrick Blue
Title
CEO
Phone
8136264926
Signed
2020-02-10
Discuss with paid preparer
Yes

Organization Details

Formed
1996
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
6

Preparer

Firm
Young & Sons Tax and Accounting
Address
4142 Mariner Blvd Ste 221, Spring Hill, FL 34609
Preparer
Charles A Young
Phone
3525401370
Supplemental Narrative

Additional Explanations

Part III response or note to any other line in Part III

Part iii line 4aweatherization services - coastal bay properties, inc. Providesweatherization services which consist of cost-effective energyefficient measures for existing residential and multi-family housingwith low income residents. Under this definition, it includes a widevariety of energy efficiency measures that encompass the buildingenvelope, its heating and cooling systems, its electrical system andelectricity-consuming appliances. The benefits of weatherization beginwith reducing the energy bills of recipients for a long period of time.some measures, such as insulating walls or roofs, for example, canprovide savings for the lifetime of a house, 30 years or more. Othermeasures, such as making heating or cooling equipment more efficient, part iii line a continuedwill provide savings for 10-15 years on average

Part XII Response or note to any line in Part XIII

Part x, line 2:the organization has adopted fasb guidance regarding uncertainty in incometaxes codified in fasb asc740-10. At september 30, 2018, management doesnot believe it has taken any tax positions that are subject to asignificant degree of uncertainty. The organizations income tax filingsare subject to examination by the internal revenue service generally forthree years after they are filed. The organizations income tax filingsfor years after the fiscal year 2014 remain open for examination

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, SECTION C, LINE 11:FORMS 1023 AND 990 WILL BE MADE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 11B:AN INDEPENDENT CPA FIRM PREPARES FORM 990. THE CEO AND BOARD TREASURERREVIEW AND APPROVE FORM 990 PRIOR TO FILING WITH THE I
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICYAND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FORM 990, PART VI, SECTION B, LINE 12C:THE CONFLICT OF INTEREST POLICY IS PROVIDED TO BOARD MEMBERS UPON JOININGTHE BOARD AND AT ANNUAL MEETINGS FOR SIGNATURE, INDICATING KNOWLEDGE ANDCOMPLIANCE WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT PROVIDE COMPENSATION FOR DIRECTORS, UNLESS THEBOARD AGREES TO PAY FOR SOLE SOURCE SERVICE OPPORTUNITIES. THEORGANIZATION REVIEWS 990 FORMS OF SIMILARLY SITUATED ORGANIZATIONS FORFUNCTIONALLY COMPARABLE POSITIONS TO DETERMINE COMPENSATION LEVELS FOR KEYEMPLOYEES AND OFFICERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT PROVIDE COMPENSATION FOR DIRECTORS, UNLESS THEBOARD AGREES TO PAY FOR SOLE SOURCE SERVICE OPPORTUNITIES. THEORGANIZATION REVIEWS 990 FORMS OF SIMILARLY SITUATED ORGANIZATIONS FORFUNCTIONALLY COMPARABLE POSITIONS TO DETERMINE COMPENSATION LEVELS FOR KEYEMPLOYEES AND OFFICERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990, PART VI, SECTION C, LINE 18:FORMS 1023 AND 990 WILL BE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PART III LINE 4AWEATHERIZATION SERVICES - COASTAL BAY PROPERTIES, INC. PROVIDESWEATHERIZATION SERVICES WHICH CONSIST OF COST-EFFECTIVE ENERGYEFFICIENT MEASURES FOR EXISTING RESIDENTIAL AND MULTI-FAMILY HOUSINGWITH LOW INCOME RESIDENTS. UNDER THIS DEFINITION, IT INCLUDES A WIDEVARIETY OF ENERGY EFFICIENCY MEASURES THAT ENCOMPASS THE BUILDINGENVELOPE, ITS HEATING AND COOLING SYSTEMS, ITS ELECTRICAL SYSTEM ANDELECTRICITY-CONSUMING APPLIANCES. THE BENEFITS OF WEATHERIZATION BEGINWITH REDUCING THE ENERGY BILLS OF RECIPIENTS FOR A LONG PERIOD OF TIME.SOME MEASURES, SUCH AS INSULATING WALLS OR ROOFS, FOR EXAMPLE, CANPROVIDE SAVINGS FOR THE LIFETIME OF A HOUSE, 30 YEARS OR MORE. OTHERMEASURES, SUCH AS MAKING HEATING OR COOLING EQUIPMENT MORE EFFICIENT, PART III LINE A CONTINUEDWILL PROVIDE SAVINGS FOR 10-15 YEARS ON AVERAGE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PART X, LINE 2:THE ORGANIZATION HAS ADOPTED FASB GUIDANCE REGARDING UNCERTAINTY IN INCOMETAXES CODIFIED IN FASB ASC740-10. AT SEPTEMBER 30, 2018, MANAGEMENT DOESNOT BELIEVE IT HAS TAKEN ANY TAX POSITIONS THAT ARE SUBJECT TO ASIGNIFICANT DEGREE OF UNCERTAINTY. THE ORGANIZATIONS INCOME TAX FILINGSARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE GENERALLY FORTHREE YEARS AFTER THEY ARE FILED. THE ORGANIZATIONS INCOME TAX FILINGSFOR YEARS AFTER THE FISCAL YEAR 2014 REMAIN OPEN FOR EXAMINATION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Part III response or note to any other line in Part III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Part XII Response or note to any line in Part XIII
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