Civic Intelligence

Memphis Jewish Housing Development- Plough Towers

990 • Fiscal year 2021 • EIN 62-1027049

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

Organization ProfileMEMJFED.ORG/COMMUNITY/PLOUGH-TOWERS

View Organization Page

6580 Poplar AvenueMemphis, TN 38138

(901) 767-1910

Siviq Scores

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

Liabilities / Assets

91st percentile

0.79x

Higher debt load relative to assets than 91% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

91st percentile

1.78x

Higher debt load relative to revenue than 91% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

61st percentile

19%

Higher net margin than 61% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

82nd percentile

$139,173

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

43rd percentile

6.3%

Faster asset growth than 43% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

54th percentile

16%

Faster revenue growth than 54% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$4,316,587

Up $254,756 (+6.3%) from 2020

Net Assets

Up

$893,676

Up $371,730 (+71%) from 2020

Liabilities

Down

$3,422,911

Down $116,974 (-3.3%) from 2020

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin61st percentile

Revenue

Up

$1,926,460

Up $267,843 (+16%) from 2020

Expenses

Down

$1,554,730

Down $14,029 (-0.9%) from 2020

Net Income

Up

$371,730

Up $281,872 (+314%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $4,165,506Liabilities 2011: $4,299,023Net Assets 2011: -$133,5172011Assets 2012: $4,194,777Liabilities 2012: $4,272,666Net Assets 2012: -$77,8892012Assets 2013: $4,188,194Liabilities 2013: $4,190,031Net Assets 2013: -$1,8372013Assets 2014: $4,133,046Liabilities 2014: $4,104,719Net Assets 2014: $28,3272014Assets 2015: $4,165,706Liabilities 2015: $4,025,834Net Assets 2015: $139,8722015Assets 2016: $4,167,415Liabilities 2016: $3,925,444Net Assets 2016: $241,9712016Assets 2017: $4,154,711Liabilities 2017: $3,822,822Net Assets 2017: $331,8892017Assets 2018: $4,125,668Liabilities 2018: $3,736,223Net Assets 2018: $389,4452018Assets 2019: $4,069,213Liabilities 2019: $3,637,122Net Assets 2019: $432,0912019Assets 2020: $4,061,831Liabilities 2020: $3,539,885Net Assets 2020: $521,9462020Assets 2021: $4,316,587Liabilities 2021: $3,422,911Net Assets 2021: $893,6762021Assets 2022: $4,575,131Liabilities 2022: $3,314,701Net Assets 2022: $1,260,4302022Assets 2023: $4,563,565Liabilities 2023: $3,163,552Net Assets 2023: $1,400,0132023Assets 2024: $4,547,905Liabilities 2024: $3,022,932Net Assets 2024: $1,524,9732024Assets 2025: $4,504,563Liabilities 2025: $2,872,222Net Assets 2025: $1,632,3412025

Highlighted filing

2021

Assets$4,316,587
Liabilities$3,422,911
Net Assets$893,676
Open 2021 Filing

Operations Trend

Revenue Growth54th percentile

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

$2.0M$1.5M$1.0M$500K$0Expenses 2011: $1,288,5802011Expenses 2012: $1,342,4462012Expenses 2013: $1,345,0532013Revenue 2014: $1,474,454Expenses 2014: $1,449,315Net Income 2014: $25,1392014Revenue 2015: $1,481,441Expenses 2015: $1,369,896Net Income 2015: $111,5452015Revenue 2016: $1,481,212Expenses 2016: $1,379,113Net Income 2016: $102,0992016Revenue 2017: $1,502,490Expenses 2017: $1,412,572Net Income 2017: $89,9182017Revenue 2018: $1,582,316Expenses 2018: $1,524,760Net Income 2018: $57,5562018Revenue 2019: $1,586,681Expenses 2019: $1,544,034Net Income 2019: $42,6472019Revenue 2020: $1,658,617Expenses 2020: $1,568,759Net Income 2020: $89,8582020Revenue 2021: $1,926,460Expenses 2021: $1,554,730Net Income 2021: $371,7302021Revenue 2022: $1,932,123Expenses 2022: $1,565,367Net Income 2022: $366,7562022Revenue 2023: $1,722,884Expenses 2023: $1,583,301Net Income 2023: $139,5832023Revenue 2024: $1,810,959Expenses 2024: $1,685,999Net Income 2024: $124,9602024Revenue 2025: $1,857,039Expenses 2025: $1,749,671Net Income 2025: $107,3682025

Highlighted filing

2021

Revenue$1,926,460
Expenses$1,554,730
Net Income$371,730
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$1,926,460
Mission and Program Overview

Mission

Plough towers is a 150-unit, government rent-assisted, high-rise apartment community which seeks to provide safe, affordable housing for the elderly and mobility impaired in an environment that enhances self worth, dignity and encourages full use of their skills, intelligence and experiences.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$3,273,251$3,487,367▲ $214,116
Land, Buildings, and Equipment, Net$642,748$628,218▼ $14,530
Intangible Assets$92,102$87,496▼ $4,606
Accounts Receivable$417$55,476▲ $55,059
Prepaid Expenses and Deferred Charges$52,671$55,277▲ $2,606
Cash and Non-Interest-Bearing Accounts$642$2,753▲ $2,111
Total Assets$4,061,831$4,316,587▲ $254,756
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,465,985$3,358,132▼ $107,853
Other Liabilities$50,585$51,691▲ $1,106
Accounts Payable and Accrued Expenses$23,315$13,088▼ $10,227
Total Liabilities$3,539,885$3,422,911▼ $116,974
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$521,946$893,676▲ $371,730
Total Net Assets Fund Balance$521,946$893,676▲ $371,730
Total Liabilities and Net Assets / Fund Balance$4,061,831$4,316,587▲ $254,756

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$240,046$5,332,102$5,572,148
Other Land Buildings$61,383$517,656$579,039
Equipment$141,789$371,360$513,149
Land$185,000-$185,000
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Leigh HendryExecutive DiFT$139,173$139,173

Board Members and Trustees

NameTitle
Jason SalomonPresident
Amy PallerDirector
Anna LevinaDirector
Barbara OstrowDirector
Harleen TagueDirector
Irina OllarDirector
Jody BeckerDirector
Judy RoyalDirector
Judy StephensonDirector
Kate BasarDirector
Keri UnowskyDirector
Laurie SamuelsDirector
Marcia FisherDirector
Marsha UnderbergDirector
Rayna GreenbergDirector
Rick BaerDirector
Steve BaerDirector
Susan StrumingerDirector
Vicki LazarusDirector
David KruegerImmediate Pa
Laurie ScheidtSecretary
Harleen TagueTreasurer
Scott VogelVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,278,980
Program Service Revenue
$583,993
Investment Income
$6,732
Other Revenue
$56,755
All Other Contributions
$210,500
Change in Net Assets
$371,730

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,926,460
Total Revenue per Audited Statements
$1,926,460
Total Revenue per Form 990
$1,926,460
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$898,843
Salaries, Compensation, and Employee Benefits$655,887
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$625,170--$625,170
Other Salaries and Wages$403,203--$403,203
Current Officers, Directors, Trustees, and Key Employees$139,173--$139,173
Insurance$112,936--$112,936
Depreciation Depletion$108,057--$108,057
Other Employee Benefits$76,816--$76,816
Payroll Taxes$36,695--$36,695
Office Expenses$30,083$1,582-$31,665
Fees for Services Accounting-$19,000-$19,000
Conferences and Meetings$2,015--$2,015
Total Functional Expenses$1,534,148$20,582$0$1,554,730

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,554,730
Total Expenses per Audited Statements$1,554,730
Total Expenses per Form 990$1,554,730
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$51,691
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 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
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 reviewed and approved by the executive director and signed by the designated official.”

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

“Board of directors review all salaries and compensation.”

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

“Board of directors review all salaries and compensation.”

Form 990, Page 6, Part VI, Line 19

“Documents are available for inspection upon written request.”

Filing and Contact Details

Filer

Filer Name
Memphis Jewish Housing Development-
EIN
62-1027049
Phone
9017671910
Address
6580 POPLAR AVENUE, MEMPHIS, TN 38138
Doing Business As
Plough Towers

Signing Officer

Name
Leigh Hendry
Title
Executive Director
Phone
9017671910
Signed
2022-05-16

Organization Details

Principal Officer
Jason Salomon
Formed
1980
Legal Domicile
Tn
Voting Board Members
23
Independent Board Members
23
Employees
11

Preparer

Firm
Scott & Pohlman Pc
Address
5100 POPLAR AVENUE SUITE 617, MEMPHIS, TN 38137-0601
Preparer
Sandy J Friedman
Phone
9017614692
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Plough towers is a 150-unit, government rent-assisted, high-rise apartment community which seeks to provide safe, affordable housing for the elderly and mobility impaired in an environment that enhances self worth, dignity and encourages full use of their skills, intelligence and experiences.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7IMMEDIATE PA
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23VICE PRESIDE
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IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/RegularMonitoringEnfrcInd0false
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt043431
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03273251
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03487367
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0960828
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0969559
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0912185
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$4,316,587
Liabilities
$3,422,911
Net assets
$893,676
Revenue
$1,926,460
Expenses
$1,554,730
Net income
$371,730
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.50$2.87$1.63$1.86$1.75$0.11
2024Detailed filing. Detailed filing data is available for this year.$4.55$3.02$1.52$1.81$1.69$0.12
2023Detailed filing. Detailed filing data is available for this year.$4.56$3.16$1.40$1.72$1.58$0.14
2022Detailed filing. Detailed filing data is available for this year.$4.58$3.31$1.26$1.93$1.57$0.37
2021Detailed filing. Detailed filing data is available for this year.$4.32$3.42$0.89$1.93$1.55$0.37
2020Detailed filing. Detailed filing data is available for this year.$4.06$3.54$0.52$1.66$1.57$0.09
2019Detailed filing. Detailed filing data is available for this year.$4.07$3.64$0.43$1.59$1.54$0.04
2018Detailed filing. Detailed filing data is available for this year.$4.13$3.74$0.39$1.58$1.52$0.06
2017Detailed filing. Detailed filing data is available for this year.$4.15$3.82$0.33$1.50$1.41$0.09
2016Detailed filing. Detailed filing data is available for this year.$4.17$3.93$0.24$1.48$1.38$0.10
2015Detailed filing. Detailed filing data is available for this year.$4.17$4.03$0.14$1.48$1.37$0.11
2014Detailed filing. Detailed filing data is available for this year.$4.13$4.10$0.03$1.47$1.45$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.19$4.19$0.00$1.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.19$4.27$0.08$1.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.17$4.30$0.13$1.29