Civic Intelligence

Elderly Housing Development and Operations Corporation

990 • Fiscal year 2018 • EIN 65-0665009

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

Organization ProfileWWW.EHDOC.ORG

View Organization Page

1580 Sawgrass Corporate Pkwy 100Sunrise, FL 33323

(954) 835-9200

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.17x

Higher debt load relative to assets than 42% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

81st percentile

1.27x

Higher debt load relative to revenue than 81% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

39th percentile

1.1%

Higher net margin than 39% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

75th percentile

$384,787

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 9.0% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

64th percentile

5.9%

Faster asset growth than 64% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

5th percentile

-43%

Faster revenue growth than 5% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$31,097,340

Up $1,743,781 (+5.9%) from 2017

Net Assets

Up

$25,681,672

Up $889,336 (+3.6%) from 2017

Liabilities

Up

$5,415,668

Up $854,445 (+19%) from 2017

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin39th percentile

Revenue

Down

$4,253,492

Down $3,199,458 (-43%) from 2017

Expenses

Up

$4,208,208

Up $533,035 (+15%) from 2017

Net Income

Down

$45,284

Down $3,732,493 (-99%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth64th 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

2018

Assets$31,097,340
Liabilities$5,415,668
Net Assets$25,681,672
Open 2018 Filing

Operations Trend

Revenue Growth5th 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

2018

Revenue$4,253,492
Expenses$4,208,208
Net Income$45,284
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.3
Gross Receipts
$4,253,492
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$11,139,013$11,860,891▲ $721,878
Savings and Temporary Cash Investments$5,912,872$5,710,124▼ $202,748
Investments in Publicly Traded Securities$4,216,148$5,273,006▲ $1,056,858
Accounts Receivable$3,349,773$3,500,727▲ $150,954
Investments Other Securities$1,484,036$938,261▼ $545,775
Cash and Non-Interest-Bearing Accounts$288,450$344,069▲ $55,619
Land, Buildings, and Equipment, Net$223,424$341,511▲ $118,087
Prepaid Expenses and Deferred Charges$130,247$94,493▼ $35,754
Total Assets$29,353,559$31,097,340▲ $1,743,781
Other Assets Total$2,609,596$3,034,258▲ $424,662
Liabilities
Other Liabilities$4,416,625$5,029,228▲ $612,603
Accounts Payable and Accrued Expenses$144,598$386,440▲ $241,842
Total Liabilities$4,561,223$5,415,668▲ $854,445
Net Assets / Fund Balance
Unrestricted Net Assets$24,692,336$25,581,672▲ $889,336
Temporarily Rstr Net Assets$100,000$100,000→ $0
Total Net Assets Fund Balance$24,792,336$25,681,672▲ $889,336
Total Liabilities and Net Assets / Fund Balance$29,353,559$31,097,340▲ $1,743,781

Asset Categories

AssetBook ValueDepreciationBasis
Land$320,390-$320,390
Leasehold Improvements$11,648$55,416$67,064
Equipment$9,473$30,830$40,303
Other Land Buildings-$9,013$9,013
Other Assets Org$1,100,515--
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steve ProtulisPresident &PT$302,292$82,495$384,787
Steve ProtulisPresident & CEO-$302,292$82,495$384,787
John OlsenDirectorPT$26,541$4,777$31,318
Edward L RomeroVice Preside-$14,000-$14,000
Morton BahrChairman Eme-$12,000-$12,000
Maria CordoneSecretary-$3,000-$3,000
Erica SchmelzerTreasurer-$1,404-$1,404

Board Members and Trustees

NameTitle
Christopher SheltonChairman
Cecil RobertsDirector
Ellen FeingoldDirector
Eric DeanDirector
Lou MoretDirector
Mary AndersonDirector
Maxine CarterDirector
Robert MartinezDirector
Roger SmithDirector
Thomas VillanovaDirector
Tony FransettaDirector
Leo W GerardVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$163,235
Program Service Revenue
$3,275,260
Investment Income
$353,895
Other Revenue
$461,102
All Other Contributions
$163,235
Change in Net Assets
$45,284
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,206,917
Other Expenses$1,843,890
Grants and Similar Amounts Paid$157,401
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$802,353$164,605-$966,958
Travel$426,632$87,524-$514,156
Other Employee Benefits$417,056$85,560-$502,616
Current Officers, Directors, Trustees, and Key Employees$370,501$76,008-$446,509
Fees for Services Accounting$286,541$58,784-$345,325
Fees for Services Other$211,577$43,406-$254,983
Office Expenses$185,909$38,140-$224,049
Pension Plan Contributions$165,740$34,002-$199,742
Occupancy$159,725$32,768-$192,493
Grants to Domestic Orgs$157,401--$157,401
Payroll Taxes$75,585$15,507-$91,092
Conferences and Meetings$72,105$14,793-$86,898
Fees for Services Legal$58,603$12,023-$70,626
Information Technology$56,066$11,502-$67,568
Advertising$19,220$3,943-$23,163
Insurance$14,757$3,028-$17,785
Depreciation Depletion$5,706$1,170-$6,876
Other Expenses$3,154$647-$3,801
Total Functional Expenses$3,518,641$689,567$0$4,208,208
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Palermo Lakes IncMiami, FL501c3Low Income Housing$33,000
Rogerson Communities IncBoston, MA501c3Senior Homes$25,000
Bayamon Sen Ctzn Hsg Co IncBayamon, PR501c3Hurricane Relief$20,000
Mm Iii IncCanton, OH501c3Low Income Housing$5,335
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
Accounts Payable - Entity$5,029,228
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
Yes
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

“A member of management will review 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 15A

“At the budget meeting, the board of directors are presented a budget which will include a percentage increase for all employee wages of the organization, including the president/ceo. The board of directors will approve the budget with the wage increase. Then the board of directors must separately review and approve the salary for the president/ceo.”

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 CORPORATE PKWY 100, SUNRISE, FL 33323

Signing Officer

Name
Steve Protulis
Title
President & CEO
Phone
9548359200
Signed
2019-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Protulis
Formed
1996
Legal Domicile
Dc
Voting Board Members
17
Independent Board Members
12
Employees
45

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.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT &
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHAIRMAN EME
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IRS990/InformationTechnologyGrp/ProgramServicesAmt056066
IRS990/InformationTechnologyGrp/TotalAmt067568
IRS990/InsuranceGrp/ManagementAndGeneralAmt03028
IRS990/InsuranceGrp/ProgramServicesAmt014757
IRS990/InsuranceGrp/TotalAmt017785
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IRS990/InvestmentsPubTradedSecGrp/BOYAmt04216148
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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/NondeductibleContributionsInd0false
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IRS990/OccupancyGrp/ProgramServicesAmt0159725
IRS990/OccupancyGrp/TotalAmt0192493
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IRS990/OfficeExpensesGrp/ProgramServicesAmt0185909
IRS990/OfficeExpensesGrp/TotalAmt0224049
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IRS990/OtherExpensesGrp/Desc0REIMBURSEMENTS
IRS990/OtherExpensesGrp/Desc1MISC. TAXES, INS
IRS990/OtherExpensesGrp/Desc2EMPLOYEE TRAINING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05353
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1804
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2647
IRS990/OtherExpensesGrp/ProgramServicesAmt026091
IRS990/OtherExpensesGrp/ProgramServicesAmt13919
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IRS990/OtherExpensesGrp/TotalAmt14723
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IRS990/OtherRevenueMiscGrp/Desc0PENSION FUNDING
IRS990/OtherRevenueMiscGrp/Desc1LATENT DEFICIENCY
IRS990/OtherRevenueMiscGrp/Desc2REIMBURSEMENTS
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt145108
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt23948
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0412046
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt23948
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0802353
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IRS990/PartialLiquidationInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt075585
IRS990/PayrollTaxesGrp/TotalAmt091092
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt034002
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0165740
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IRS990/PrincipalOfficerNm0STEVE PROTULIS
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IRS990/ProgramServiceRevenueGrp/BusinessCd4541200
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/RelatedOrExemptFuncIncomeAmt1325562
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2171287
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt410650
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1325562
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2171287
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3106109
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt410650
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IRS990/PYInvestmentIncomeAmt0286364
IRS990/PYOtherExpensesAmt01434032
IRS990/PYOtherRevenueAmt01792414
IRS990/PYProgramServiceRevenueAmt05228964
IRS990/PYRevenuesLessExpensesAmt03777777
IRS990/PYSalariesCompEmpBnftPaidAmt02122747
IRS990/PYTotalExpensesAmt03675173
IRS990/PYTotalRevenueAmt07452950
IRS990/ReconcilationRevenueExpnssAmt045284
IRS990/RegularMonitoringEnfrcInd0true
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt05710124
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PENSION BENEFIT 2013 292,211 MISC REVENUE 2013 43,613 CONSULTING & GEN PARTNER FEES 2014 22,869 CONFERENCE FEES 2014 34,342 PENSION BENEFIT 2014 164,504 SETTLEMENT PAYMENT 2016 1,104,767 PENSION BENEFIT 2016 417,985 REIMBURSEMENTS 2016 205,081 CONFERENCE FEES 2016 36,334 RESTITUTION PAYMENT 2016 28,247 PENSION BENEFIT 2017 412,046 LATENT DEFICIENCY 2017 45,108 REIMBURSEMENTS 2017 3,948
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0161936
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0200626
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0799616
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0286364
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0315457
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt04113965

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,097,340
Liabilities
$5,415,668
Net assets
$25,681,672
Revenue
$4,253,492
Expenses
$4,208,208
Net income
$45,284
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
2018Detailed filing. Detailed filing data is available for this year.$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