Civic Intelligence

One Eighteen Housing Development Fund Company Inc

990 • Fiscal year 2015 • EIN 61-1412108

Jan 01, 2015 to Dec 31, 2015 • Filed on May 16, 2016

Organization ProfileWWW.MVDC.ORG
73 West 108th StreetNew York, NY 10025

(212) 678-4410

Siviq Scores

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

Liabilities / Assets

82nd percentile

1.28x

Higher debt load relative to assets than 82% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

56th percentile

6.15x

Higher debt load relative to revenue than 56% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2015

Net Margin

21st percentile

-46%

Higher net margin than 21% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

56th percentile

$87,778

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 28.2% of source-year revenue.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2015

Asset Growth

9th percentile

-6.0%

Faster asset growth than 9% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

65th percentile

3.8%

Faster revenue growth than 65% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$1,499,260

Down $95,022 (-6.0%) from 2014

Net Assets

Down

-$416,401

Down $144,347 (-53%) from 2014

Liabilities

Up

$1,915,661

Up $49,325 (+2.6%) from 2014

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin21st percentile

Revenue

Up

$311,663

Up $11,347 (+3.8%) from 2014

Expenses

Up

$456,010

Up $47,988 (+12%) from 2014

Net Income

Down

-$144,347

Down $36,641 (-34%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $2,008,592Liabilities 2010: $2,052,983Net Assets 2010: -$44,3912010Assets 2011: $1,960,759Liabilities 2011: $2,029,424Net Assets 2011: -$68,6652011Assets 2012: $1,829,789Liabilities 2012: $1,925,150Net Assets 2012: -$95,3612012Assets 2013: $1,728,347Liabilities 2013: $1,892,695Net Assets 2013: -$164,3482013Assets 2014: $1,594,282Liabilities 2014: $1,866,336Net Assets 2014: -$272,0542014Assets 2015: $1,499,260Liabilities 2015: $1,915,661Net Assets 2015: -$416,4012015Assets 2016: $1,420,068Liabilities 2016: $1,889,679Net Assets 2016: -$469,6112016Assets 2024: $1,363,078Liabilities 2024: $1,418,004Net Assets 2024: -$54,9262024Assets 2025: $1,477,964Liabilities 2025: $1,335,716Net Assets 2025: $142,2482025

Highlighted filing

2015

Assets$1,499,260
Liabilities$1,915,661
Net Assets-$416,401
Open 2015 Filing

Operations Trend

Revenue Growth65th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $343,0302010Revenue 2011: $308,155Expenses 2011: $332,429Net Income 2011: -$24,2742011Expenses 2012: $334,2702012Revenue 2013: $296,016Expenses 2013: $365,003Net Income 2013: -$68,9872013Revenue 2014: $300,316Expenses 2014: $408,022Net Income 2014: -$107,7062014Revenue 2015: $311,663Expenses 2015: $456,010Net Income 2015: -$144,3472015Revenue 2016: $324,268Expenses 2016: $377,478Net Income 2016: -$53,2102016Revenue 2024: $744,215Expenses 2024: $633,347Net Income 2024: $110,8682024Revenue 2025: $766,635Expenses 2025: $569,461Net Income 2025: $197,1742025

Highlighted filing

2015

Revenue$311,663
Expenses$456,010
Net Income-$144,347
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 16, 2016
Return Version
2015v2.0
Gross Receipts
$311,663
Mission and Program Overview

Mission

To provide adequate low income housing in the manhattan valley area of new york city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,344,909$1,273,480▼ $71,429
Intangible Assets$114,650$105,333▼ $9,317
Prepaid Expenses and Deferred Charges$16,112$16,834▲ $722
Cash and Non-Interest-Bearing Accounts$41,542$11,372▼ $30,170
Accounts Receivable$8,460$6,228▼ $2,232
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 Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$1,594,282$1,499,260▼ $95,022
Other Assets Total$68,609$86,013▲ $17,404
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,817,369$1,781,977▼ $35,392
Accounts Payable and Accrued Expenses$39,186$91,752▲ $52,566
Other Liabilities$6,379$40,263▲ $33,884
Deferred Revenue$3,402$1,669▼ $1,733
Total Liabilities$1,866,336$1,915,661▲ $49,325
Net Assets / Fund Balance
Unrestricted Net Assets$-272,054$-416,401▼ $144,347
Total Net Assets Fund Balance$-272,054$-416,401▼ $144,347
Total Liabilities and Net Assets / Fund Balance$1,594,282$1,499,260▼ $95,022

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$938,179$431,378$1,369,557
Buildings$276,301$280,092$556,393
Land$59,000-$59,000
Equipment-$5,226$5,226
Other Assets Org$2,013--
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleOtherTotal
Lucille Mc EwenVice President$87,778$87,778

Board Members and Trustees

NameTitle
Bradford WinstonPresident & CEO
Sandra PowersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$311,607
Investment Income
$56
Other Revenue
$0
Change in Net Assets
$-144,347
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$456,010
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
Depreciation Depletion$80,747--$80,747
Interest$64,462--$64,462
All Other Expenses$31,846--$31,846
Other Expenses$20,748--$20,748
Fees for Services Other$15,596--$15,596
Insurance$11,146--$11,146
Fees for Services Accounting-$9,000-$9,000
Fees for Services Legal-$7,062-$7,062
Total Functional Expenses$439,948$16,062$0$456,010
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Mvmc$38,011
Tenants Security Deposits$2,252
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
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
No

Governance Explanations

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

“THERE IS NO COMMITTEE”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 was reviewed by the executive director and board president and a copy was provided to the board of directors.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“We have distributed documents, whereby officers, directors and key employees are requested to notify the organization of any interest that could give rise to conflict, and each member will be asked to confirm at each scheduled meeting.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
One Eighteen Housing Development
EIN
61-1412108
Phone
2126784410
Address
73 WEST 108TH STREET, NEW YORK, NY 10025

Signing Officer

Name
Robin Pace
Title
Vice President
Signed
2016-05-16
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
2
Employees
0

Preparer

Firm
Richard Simon CPALLC
Address
6800 JERICHO TPK SUITE 207E, SYOSSET, NY 11791
Preparer
Richard Simon
Phone
5168642722
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The organization follows the provisions of fasb asc 740 "income taxes," which provides standards for establishing and classifying any tax provisions for uncertain tax positions. The organization is no longer subject to federal or state and local income tax examinations by tax authorities for years before december 31, 2011.”

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt083
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt01101
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportPY509Pct00.99890
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0307574
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01523379
IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0280092
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0556393
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05226
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05226
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt059000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt059000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0938179
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0431378
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01369557
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt045570
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt138430
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22013
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MORTGAGEE ESCROW DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANTS SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3UTILITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt038011
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12252
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MVMC
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANTS SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC 740 "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE ORGANIZATION IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE DECEMBER 31, 2011.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01273480
IRS990ScheduleD/TotalBookValueOtherAssetsAmt086013
IRS990ScheduleD/TotalLiabilityAmt040263
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE IS NO COMMITTEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS REVIEWED BY THE EXECUTIVE DIRECTOR AND BOARD PRESIDENT AND A COPY WAS PROVIDED TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WE HAVE DISTRIBUTED DOCUMENTS, WHEREBY OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUESTED TO NOTIFY THE ORGANIZATION OF ANY INTEREST THAT COULD GIVE RISE TO CONFLICT, AND EACH MEMBER WILL BE ASKED TO CONFIRM AT EACH SCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0132628511
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROVIDES DEVELOPMENT PRESEVATION IN THE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt073 WEST 108TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01499260
IRS990/TotalAssetsGrp/BOYAmt01594282
IRS990/TotalAssetsGrp/EOYAmt01499260
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0456010
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IRS990/TotalLiabilitiesGrp/EOYAmt01915661
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IRS990/TotalOtherCompensationAmt012470
IRS990/TotalProgramServiceExpensesAmt0439948

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,499,260
Liabilities
$1,915,661
Net assets
-$416,401
Revenue
$311,663
Expenses
$456,010
Net income
-$144,347
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.48$1.34$0.14$0.77$0.57$0.20
2024Detailed filing. Detailed filing data is available for this year.$1.36$1.42$0.05$0.74$0.63$0.11
2016Summary only. Only limited summary data is available for this year.$1.42$1.89$0.47$0.32$0.38$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.50$1.92$0.42$0.31$0.46$0.14
2014Detailed filing. Detailed filing data is available for this year.$1.59$1.87$0.27$0.30$0.41$0.11
2013Detailed filing. Detailed filing data is available for this year.$1.73$1.89$0.16$0.30$0.37$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.83$1.93$0.10$0.33
2011Summary only. Only limited summary data is available for this year.$1.96$2.03$0.07$0.31$0.33$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.01$2.05$0.04$0.34