Civic Intelligence

Elderly Housing Development and Operations Corporation

990 • Fiscal year 2015 • EIN 65-0665009

Jul 01, 2014 to Jun 30, 2015 • Filed on May 16, 2016

Organization ProfileWWW.EHDOC.ORG

View Organization Page

1580 Sawgrass Corp Parkway Ste 210Sunrise, FL 33323

(954) 835-9200

Siviq Scores

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

Liabilities / Assets

27th percentile

0.06x

Higher debt load relative to assets than 27% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

53rd percentile

0.28x

Higher debt load relative to revenue than 53% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

85th percentile

31%

Higher net margin than 85% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

78th percentile

$290,102

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

65th percentile

5.1%

Faster asset growth than 65% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

73rd percentile

14%

Faster revenue growth than 73% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$22,713,139

Up $1,107,547 (+5.1%) from 2014

Net Assets

Up

$21,352,818

Up $1,027,282 (+5.1%) from 2014

Liabilities

Up

$1,360,321

Up $80,265 (+6.3%) from 2014

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin85th percentile

Revenue

Up

$4,935,633

Up $601,480 (+14%) from 2014

Expenses

Down

$3,385,324

Down $312,572 (-8.5%) from 2014

Net Income

Up

$1,550,309

Up $914,052 (+144%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$80M$60M$40M$20M$0Assets 2010: $4,896,191Liabilities 2010: $1,174,459Net Assets 2010: $3,721,7322010Assets 2011: $14,420,295Liabilities 2011: $930,374Net Assets 2011: $13,489,9212011Assets 2012: $15,943,792Liabilities 2012: $794,141Net Assets 2012: $15,149,6512012Assets 2013: $20,818,738Liabilities 2013: $552,241Net Assets 2013: $20,266,4972013Assets 2014: $21,605,592Liabilities 2014: $1,280,056Net Assets 2014: $20,325,5362014Assets 2015: $22,713,139Liabilities 2015: $1,360,321Net Assets 2015: $21,352,8182015Assets 2016: $26,141,036Liabilities 2016: $4,404,370Net Assets 2016: $21,736,6662016Assets 2017: $29,353,559Liabilities 2017: $4,561,223Net Assets 2017: $24,792,3362017Assets 2018: $31,097,340Liabilities 2018: $5,415,668Net Assets 2018: $25,681,6722018Assets 2019: $32,498,968Liabilities 2019: $6,379,999Net Assets 2019: $26,118,9692019Assets 2020: $39,975,732Liabilities 2020: $6,452,586Net Assets 2020: $33,523,1462020Assets 2021: $42,027,773Liabilities 2021: $5,298,162Net Assets 2021: $36,729,6112021Assets 2022: $58,992,114Liabilities 2022: $6,045,010Net Assets 2022: $52,947,1042022Assets 2023: $61,198,404Liabilities 2023: $11,023,130Net Assets 2023: $50,175,2742023Assets 2024: $62,896,066Liabilities 2024: $10,870,750Net Assets 2024: $52,025,3162024

Highlighted filing

2015

Assets$22,713,139
Liabilities$1,360,321
Net Assets$21,352,818
Open 2015 Filing

Operations Trend

Revenue Growth73rd percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $2,800,9072010Expenses 2011: $2,426,7372011Expenses 2012: $2,960,3762012Expenses 2013: $4,070,5682013Revenue 2014: $4,334,153Expenses 2014: $3,697,896Net Income 2014: $636,2572014Revenue 2015: $4,935,633Expenses 2015: $3,385,324Net Income 2015: $1,550,3092015Revenue 2016: $6,896,602Expenses 2016: $4,573,481Net Income 2016: $2,323,1212016Revenue 2017: $7,452,950Expenses 2017: $3,675,173Net Income 2017: $3,777,7772017Revenue 2018: $4,253,492Expenses 2018: $4,208,208Net Income 2018: $45,2842018Revenue 2019: $3,919,268Expenses 2019: $3,770,501Net Income 2019: $148,7672019Revenue 2020: $10,762,288Expenses 2020: $3,611,430Net Income 2020: $7,150,8582020Revenue 2021: $6,886,084Expenses 2021: $4,404,086Net Income 2021: $2,481,9982021Revenue 2022: $7,823,103Expenses 2022: $5,311,891Net Income 2022: $2,511,2122022Revenue 2023: $6,948,538Expenses 2023: $9,919,565Net Income 2023: -$2,971,0272023Revenue 2024: $16,844,664Expenses 2024: $15,625,691Net Income 2024: $1,218,9732024

Highlighted filing

2015

Revenue$4,935,633
Expenses$3,385,324
Net Income$1,550,309
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 16, 2016
Return Version
2014v6.0
Gross Receipts
$4,935,633
Mission and Program Overview

Mission

The purpose of the organization is to provide management of the day-to-day activities of housing projects that are regulated by the department of housing & urban development (hud).

The purpose of the organization is to provide management of the day-to-day activities of housing projects that are regulated by the department of housing & urban development (hud) and sponsorships with housing projects. The organization also develops new projects to expand their capacity of providing low-income housing through the additional projects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$9,401,872$9,693,020▲ $291,148
Savings and Temporary Cash Investments$2,935,423$4,202,640▲ $1,267,217
Investments in Publicly Traded Securities$3,925,810$4,172,478▲ $246,668
Accounts Receivable$1,404,775$2,803,982▲ $1,399,207
Investments Other Securities-$348,645-
Land, Buildings, and Equipment, Net$21,445$236,646▲ $215,201
Cash and Non-Interest-Bearing Accounts-$105,859-
Prepaid Expenses and Deferred Charges$25,111$35,752▲ $10,641
Total Assets$21,605,592$22,713,139▲ $1,107,547
Other Assets Total$3,891,156$1,114,117▼ $2,777,039
Liabilities
Deferred Revenue$575,000$575,000→ $0
Accounts Payable and Accrued Expenses$405,056$485,321▲ $80,265
Mortgage Notes Payable Secured by Investment Property$300,000$300,000→ $0
Total Liabilities$1,280,056$1,360,321▲ $80,265
Net Assets / Fund Balance
Unrestricted Net Assets$20,275,536$21,302,818▲ $1,027,282
Temporarily Rstr Net Assets$50,000$50,000→ $0
Total Net Assets Fund Balance$20,325,536$21,352,818▲ $1,027,282
Total Liabilities and Net Assets / Fund Balance$21,605,592$22,713,139▲ $1,107,547

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$52,801$52,801
Equipment$18,943$14,500$33,443
Other Land Buildings$2,703$6,310$9,013
Land$215,000--
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Steve ProtulisPresident &PT$290,102$290,102
Steve ProtulisPresident & CEO-$290,102$290,102
Morton BahrChairman-$48,000$48,000
John OlsenDirectorPT$26,335$26,335
Erica SchmelzerTreasurerPT$10,000$10,000

Board Members and Trustees

NameTitle
Cecil RobertsDirector
Christopher SheltonDirector
Ellen FeingoldDirector
Joseph J HuntDirector
Larry WilliamsDirector
Marliyn MelkonianDirector
Maxine CarterDirector
Roger SmithDirector
Thomas VillanovaDirector
Tony FransettaDirector
Maria CordoneSecretary
Edward L RomeroVice Preside
Leo W GerardVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Harley Ellis DevereauxDevelopmentPO BOX 674273, PO BOX 9729, Southfield, MI 48267$330,000
Bernstein ShurLegal Services100 MIDDLE STREET, MIRAMAR, Portland, ME 04101$242,949
Berger Singerman PaDevelopment703 LA PAZ STREET, San Juan, PR 00907$152,822
-Legal Service350E LAS OLAS BLVD, Fort Lauderdale, FL 33301$137,595
Revenue and Support

Revenue Composition

Contributions and Grants
$129,269
Program Service Revenue
$3,154,446
Investment Income
$374,769
Other Revenue
$1,277,149
All Other Contributions
$129,269
Change in Net Assets
$1,550,309

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,935,633
Total Revenue per Audited Statements
$4,935,633
Total Revenue per Form 990
$4,935,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,660,416
Other Expenses$1,645,125
Grants and Similar Amounts Paid$79,783
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$913,003$220,318-$1,133,321
Fees for Services Legal$294,014$70,949-$364,963
Travel$262,541$63,354-$325,895
Fees for Services Other$195,015$47,059-$242,074
Pension Plan Contributions$193,421$46,675-$240,096
Occupancy$165,270$39,881-$205,151
Other Employee Benefits$163,252$39,394-$202,646
Office Expenses$151,096$36,461-$187,557
Fees for Services Accounting$84,326$20,349-$104,675
Payroll Taxes$67,955$16,398-$84,353
Grants to Domestic Orgs$79,783--$79,783
Conferences and Meetings$23,875$5,761-$29,636
Other Expenses$14,296$3,450-$17,746
All Other Expenses$10,718$2,585-$13,303
Insurance$7,751$1,870-$9,621
Depreciation Depletion$6,251$1,509-$7,760
Interest$4,834$1,166-$6,000
Advertising$172$41-$213
Total Functional Expenses$2,742,729$642,595$0$3,385,324

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,385,324
Total Expenses per Audited Statements$3,385,324
Total Expenses per Form 990$3,385,324
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nat Low Income Housing CoalitionWashington, DC501c3Low Income Housing$20,000
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The accounting director reviews the 990 prior to filing.”

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

“Enforcements of conflicts policy each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflict of interest policy b. Has read and understood the policy c. Has agreed to comply with the policy and, d. Understands the corporation is charitable and in order to maintain its federal tax exemption it must engage in activities which accomplish one or more of its tax-exempt purposes. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Elderly Housing Dev & Operations
EIN
65-0665009
Phone
9548359200
Address
1580 SAWGRASS CORP PARKWAY STE 210, SUNRISE, FL 33323

Signing Officer

Name
Steve Protulis
Title
President & CEO
Phone
9548359200
Signed
2016-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Protulis Same as C Above
Formed
1996
Legal Domicile
Dc
Voting Board Members
17
Independent Board Members
13
Employees
43

Preparer

Firm
Bellows Associates Pa
Address
7890 PETERS RD STE G102, PLANTATION, FL 33324-4028
Preparer
Jennifer R Koffman
Phone
9548387000
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The purpose of the organization is to provide management of the day-to-day activities of housing projects that are regulated by the department of housing & urban development (hud) and sponsorships with housing projects. The organization also develops new projects to expand their capacity of providing low-income housing through the additional projects.”

Form 990, Part XI, Line 9

“A prior period adjustment was made to the corporation's net assets per the independent audited financial statments of a subsidary.”

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IRS990/Form990PartVIISectionAGrp/PersonNm2ROGER SMITH
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT &
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt13TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt14SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt16VICE PRESIDE
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IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
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IRS990/InsuranceGrp/ProgramServicesAmt07751
IRS990/InsuranceGrp/TotalAmt09621
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IRS990/LandBldgEquipCostOrOtherBssAmt0310257
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt029067
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt029067
IRS990/MissionDesc0THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE MANAGEMENT OF THE DAY-TO-DAY ACTIVITIES OF HOUSING PROJECTS THAT ARE REGULATED BY THE DEPARTMENT OF HOUSING & URBAN DEVELOPMENT (HUD) AND SPONSORSHIPS WITH HOUSING PROJECTS. THE ORGANIZATION ALSO DEVELOPS NEW PROJECTS TO EXPAND THEIR CAPACITY OF PROVIDING LOW-INCOME HOUSING THROUGH THE ADDITIONAL PROJECTS.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0300000
IRS990/NetAssetsOrFundBalancesBOYAmt020325536
IRS990/NetAssetsOrFundBalancesEOYAmt021352818
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt039881
IRS990/OccupancyGrp/ProgramServicesAmt0165270
IRS990/OccupancyGrp/TotalAmt0205151
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt036461
IRS990/OfficeExpensesGrp/ProgramServicesAmt0151096
IRS990/OfficeExpensesGrp/TotalAmt0187557
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03891156
IRS990/OtherAssetsTotalGrp/EOYAmt01114117
IRS990/OtherChangesInNetAssetsAmt0-523027
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt039394
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0163252
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0202646
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IRS990/OtherExpensesGrp/Desc1WASHERS AND DRYERS
IRS990/OtherExpensesGrp/Desc2EMPLOYEE TRAINING
IRS990/OtherExpensesGrp/Desc3STAFF RECOGNITION
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18463
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt27531
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt33450
IRS990/OtherExpensesGrp/ProgramServicesAmt038877
IRS990/OtherExpensesGrp/ProgramServicesAmt135072
IRS990/OtherExpensesGrp/ProgramServicesAmt231207
IRS990/OtherExpensesGrp/ProgramServicesAmt314296
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IRS990/OtherExpensesGrp/TotalAmt143535
IRS990/OtherExpensesGrp/TotalAmt238738
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IRS990/OtherRevenueMiscGrp/Desc2FEES AND REFUNDS
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1164504
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt260811
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0193421
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IRS990/PrincipalOfficerNm0STEVE PROTULIS SAME AS C ABOVE
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IRS990/ProgramServiceRevenueGrp/BusinessCd4561000
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1ACCOUNTING FEES
IRS990/ProgramServiceRevenueGrp/Desc2COORDINATOR ADMIN FEES
IRS990/ProgramServiceRevenueGrp/Desc3TECH SUPPORT FEES
IRS990/ProgramServiceRevenueGrp/Desc4AUDIT PREP FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1342090
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2153253
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3104574
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt410650
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02543879
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1342090
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2153253
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3104574
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt410650
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0467897
IRS990/PYOtherExpensesAmt02001552
IRS990/PYOtherRevenueAmt0836995
IRS990/PYProgramServiceRevenueAmt03029261
IRS990/PYRevenuesLessExpensesAmt0636257
IRS990/PYSalariesCompEmpBnftPaidAmt01696344
IRS990/PYTotalExpensesAmt03697896
IRS990/PYTotalRevenueAmt04334153
IRS990/ReconcilationRevenueExpnssAmt01550309
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$22,713,139
Liabilities
$1,360,321
Net assets
$21,352,818
Revenue
$4,935,633
Expenses
$3,385,324
Net income
$1,550,309
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$62.9$10.9$52.0$16.8$15.6$1.22
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$61.2$11.0$50.2$6.95$9.92$2.97
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$59.0$6.05$52.9$7.82$5.31$2.51
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.0$5.30$36.7$6.89$4.40$2.48
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$40.0$6.45$33.5$10.8$3.61$7.15
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.5$6.38$26.1$3.92$3.77$0.15
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.1$5.42$25.7$4.25$4.21$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.4$4.56$24.8$7.45$3.68$3.78
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.1$4.40$21.7$6.90$4.57$2.32
2015Detailed filing. Detailed filing data is available for this year.$22.7$1.36$21.4$4.94$3.39$1.55
2014Detailed filing. Detailed filing data is available for this year.$21.6$1.28$20.3$4.33$3.70$0.64
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.8$0.55$20.3$4.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.9$0.79$15.1$2.96
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.4$0.93$13.5$2.43
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.90$1.17$3.72$2.80
Peer Organizations

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