Civic Intelligence

Placet Development Corporation

990 • Fiscal year 2013 • EIN 75-2817205

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 14, 2014

Organization ProfileN/A
275 Battery Street Ste 500Suite94111

(214) 821-2142

Siviq Scores

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

Liabilities / Assets

99th percentile

1.93x

Higher debt load relative to assets than 99% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

96th percentile

9.81x

Higher debt load relative to revenue than 96% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Net Margin

7th percentile

-33%

Higher net margin than 7% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Asset Growth

20th percentile

-3.1%

Faster asset growth than 20% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$23,634,468

Down $754,496 (-3.1%) from 2012

Net Assets

Down

-$21,893,135

Down $1,522,841 (-7.5%) from 2012

Liabilities

Up

$45,527,603

Up $768,345 (+1.7%) from 2012

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin7th percentile

Revenue

$4,640,202

No earlier filing loaded for comparison.

Expenses

Down

$6,163,043

Down $491,032 (-7.4%) from 2012

Net Income

-$1,522,841

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$60M$40M$20M$0-$20M-$40MAssets 2010: $26,060,106Liabilities 2010: $41,095,775Net Assets 2010: -$15,035,6692010Assets 2011: $25,268,678Liabilities 2011: $43,607,765Net Assets 2011: -$18,339,0872011Assets 2012: $24,388,964Liabilities 2012: $44,759,258Net Assets 2012: -$20,370,2942012Assets 2013: $23,634,468Liabilities 2013: $45,527,603Net Assets 2013: -$21,893,1352013Assets 2014: $23,009,432Liabilities 2014: $47,795,747Net Assets 2014: -$24,786,3152014Assets 2015: $12,253,109Liabilities 2015: $25,654,773Net Assets 2015: -$13,401,6642015Assets 2016: $8,025Liabilities 2016: $0Net Assets 2016: $8,0252016Assets 2017: $752Liabilities 2017: $0Net Assets 2017: $7522017Assets 2018: $3,612Liabilities 2018: $33,146Net Assets 2018: -$29,5342018Assets 2019: $2,696Liabilities 2019: $50,677Net Assets 2019: -$47,9812019Assets 2020: $62,774Liabilities 2020: $156,483Net Assets 2020: -$93,7092020Assets 2021: $106,070Liabilities 2021: $738Net Assets 2021: $105,3322021Assets 2022: $95,764Liabilities 2022: $1,118Net Assets 2022: $94,6462022Assets 2023: -$3,314,619Liabilities 2023: $8,105Net Assets 2023: -$3,322,7242023Assets 2024: -$6,658,913Liabilities 2024: $15,716Net Assets 2024: -$6,674,6292024

Highlighted filing

2013

Assets$23,634,468
Liabilities$45,527,603
Net Assets-$21,893,135
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $4,453,3762010Expenses 2011: $7,978,4592011Expenses 2012: $6,654,0752012Revenue 2013: $4,640,202Expenses 2013: $6,163,043Net Income 2013: -$1,522,8412013Revenue 2014: $4,974,869Expenses 2014: $6,386,903Net Income 2014: -$1,412,0342014Revenue 2015: $18,264,662Expenses 2015: $6,880,011Net Income 2015: $11,384,6512015Revenue 2016: $12,144,728Expenses 2016: $2,836,398Net Income 2016: $9,308,3302016Revenue 2017: $9,864Expenses 2017: $17,137Net Income 2017: -$7,2732017Revenue 2018: $1,016Expenses 2018: $31,302Net Income 2018: -$30,2862018Revenue 2019: $558Expenses 2019: $19,005Net Income 2019: -$18,4472019Revenue 2020: $180,000Expenses 2020: $225,728Net Income 2020: -$45,7282020Revenue 2021: $515,000Expenses 2021: $315,959Net Income 2021: $199,0412021Revenue 2022: $229,588Expenses 2022: $240,274Net Income 2022: -$10,6862022Revenue 2023: $375,125Expenses 2023: $370,245Net Income 2023: $4,8802023Revenue 2024: $481,290Expenses 2024: $415,638Net Income 2024: $65,6522024

Highlighted filing

2013

Revenue$4,640,202
Expenses$6,163,043
Net Income-$1,522,841
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 14, 2014
Return Version
2013v3.1
Gross Receipts
$4,640,202
Mission and Program Overview

Mission

Providing housing that is affordable to low-income and moderate-income people in and around dallas, texas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$23,456,321$22,765,801▼ $690,520
Intangible Assets$763,138$736,034▼ $27,104
Cash and Non-Interest-Bearing Accounts$105,153$59,861▼ $45,292
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$24,388,964$23,634,468▼ $754,496
Other Assets Total$64,352$72,772▲ $8,420
Liabilities
Tax Exempt Bond Liabilities$31,815,519$31,460,624▼ $354,895
Unsecured Notes Loans Payable$12,880,644$14,022,471▲ $1,141,827
Other Liabilities$48,150$44,008▼ $4,142
Accounts Payable and Accrued Expenses$14,945$500▼ $14,445
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$44,759,258$45,527,603▲ $768,345
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-20,370,294$-21,893,135▼ $1,522,841
Total Net Assets Fund Balance$-20,370,294$-21,893,135▼ $1,522,841
Total Liabilities and Net Assets / Fund Balance$24,388,964$23,634,468▼ $754,496

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,057,969$7,909,628$24,874,337
Land$2,565,810-$2,565,810
Other Land Buildings$1,142,021$1,529,858$2,524,588
Equipment$1$71,147$71,148
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Flynann JanissePresident and Chair
Gary SilversmithSecretary & Vice-President
Lenetta KingvalskyResident Director
Ruth S McNallyResident Director
J Bradley GreenblumTreasurer & DIRECTOR
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,640,186
Investment Income
$16
Other Revenue
$0
Change in Net Assets
$-1,522,841

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,640,202
Revenue Not Reported on Form 990
$64,635
Total Revenue per Audited Statements
$4,704,837
Total Revenue per Form 990
$4,640,202
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,490,570
Salaries, Compensation, and Employee Benefits$672,473
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$3,531,185--$3,531,185
Depreciation Depletion$843,593--$843,593
Other Salaries and Wages$627,358--$627,358
Fees for Services Other$190,256--$190,256
Fees for Services Management$140,689--$140,689
Insurance$134,489--$134,489
Other Expenses$59,391--$59,391
Payroll Taxes$45,115--$45,115
Fees for Services Legal$28,196--$28,196
All Other Expenses$27,104--$27,104
Advertising$8,079--$8,079
Fees for Services Accounting$6,800--$6,800
Total Functional Expenses$6,163,043$0$0$6,163,043

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$6,163,043
Expenses per Audited Statements$6,094,950
Total Expenses per Audited Statements$6,094,950
Expenses Not Reported on Financial Statements$68,093
Other Expense Adjustments$68,093
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenants Security Deposits Liab$44,008
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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

Part VI, Section B, Question 11

“Placet development corporation's president and selected board members will review and approve the form 990. The president will sign it.”

Part VI, Section C, Question 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
75-2817205
In Care Of
% FLYNANN JANISSE
Phone
2148212142

Signing Officer

Name
Flynanne Janisse
Title
Manager
Phone
4155019619
Signed
2014-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Flynann Janisse
Formed
1999
Legal Domicile
TX
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Preparer
Michael S Celkis CPA
Phone
4155019619
Supplemental Narrative

Additional Explanations

Part X, Line 24

“The Organization has been advanced funds from Fidelity Cap V, LLC in the aggregate amount of $7,151,782, which was used to pay debt service, fund operating deficits and fund rehabilitation of the properties of the Subsidiaries. The advances bear interest at the rate of 10% per annum, compounded monthly. The advances are to be paid from distributions of cash flow from the Subsidiaries to the Organization. As of December 31, 2013, accrued interest payable was $4,733,810. Greenbridge and Tenison were also advanced funds from Fidelity Cap V, LLC in the aggregate amount of $2,286,879. These advances are unsecured, noninterest bearing and will be repaid from cash flow from the projects.”

Financial Statement Notes

Schedule D, Part XI, Line 2D

“This is the amount of the adjustment to convert from the accrual basis method of income used in the financial income statements to the cash basis method of accounting used for the tax return.”

Schedule D, Part XII, Line 4B

“This is the amount of the adjustment to convert from the accrual basis method of income used in the financial income statements to the cash basis method of accounting used for the tax return.”

Schedule D, Part X, Line 1

“The Organization is exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Greenbridge at Buckingham, L.L.C and Greenbridge at Williams Run, L.L.C. are single-member limited liability companies, whose activity is reported directly by their sole member, the Organization, since they are disregarded entities for income tax purposes. Income tax returns filed by the Organization are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2010 remain open.”

Raw XML AppendixShowing 400 of 509 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0FLYNANN JANISSE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME FROM LOW INCOME HOUSING PROJECTS
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04640186
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt06048095
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt04622861
IRS990/PYRevenuesLessExpensesAmt0-2031207
IRS990/PYSalariesCompEmpBnftPaidAmt0605980
IRS990/PYTotalExpensesAmt06654075
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04622868
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1522841
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt04640186
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt016
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt07
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt012
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0112
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0151
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt04640186
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt04622861
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt04675037
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt04135358
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt04052071
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt022125513
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt016
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt07
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt04
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt012
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0112
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0151
IRS990ScheduleA/InvestmentIncomeCYPct00.00001
IRS990ScheduleA/InvestmentIncomePYPct00.00028
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99999
IRS990ScheduleA/PublicSupportPY509Pct00.99972
IRS990ScheduleA/PublicSupportTotal509Amt022125513
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt04640186
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt04675037
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt04135358
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt04052071
IRS990ScheduleA/Total509Grp/TotalAmt022125513
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt04640202
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt04622868
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt04675041
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt04135370
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt04052183
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt022125664
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt019057969
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07909628
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt024874337
IRS990ScheduleD/EquipmentGrp/BookValueAmt01
IRS990ScheduleD/EquipmentGrp/DepreciationAmt071147
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt071148
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt068093
IRS990ScheduleD/ExpensesSubtotalAmt06094950
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt02565810
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02565810
IRS990ScheduleD/OtherExpensesNotIncludedAmt068093
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01142021
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01529858
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02524588
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt044008
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS SECURITY DEPOSITS LIAB
IRS990ScheduleD/OtherRevenueAmt064635
IRS990ScheduleD/RevenueNotReportedAmt064635
IRS990ScheduleD/RevenueSubtotalAmt04640202
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THIS IS THE AMOUNT OF THE ADJUSTMENT TO CONVERT FROM THE ACCRUAL BASIS METHOD OF INCOME USED IN THE FINANCIAL INCOME STATEMENTS TO THE CASH BASIS METHOD OF ACCOUNTING USED FOR THE TAX RETURN.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THIS IS THE AMOUNT OF THE ADJUSTMENT TO CONVERT FROM THE ACCRUAL BASIS METHOD OF INCOME USED IN THE FINANCIAL INCOME STATEMENTS TO THE CASH BASIS METHOD OF ACCOUNTING USED FOR THE TAX RETURN.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2The Organization is exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Greenbridge at Buckingham, L.L.C and Greenbridge at Williams Run, L.L.C. are single-member limited liability companies, whose activity is reported directly by their sole member, the Organization, since they are disregarded entities for income tax purposes. Income tax returns filed by the Organization are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2010 remain open.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PART XII, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PART X, LINE 1
IRS990ScheduleD/TotalBookValueLandBuildingsAmt022765801
IRS990ScheduleD/TotalExpensesPerForm990Amt06163043
IRS990ScheduleD/TotalLiabilityAmt044008
IRS990ScheduleD/TotalRevenuePerForm990Amt04640202
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04704837
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06094950
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PLACET DEVELOPMENT CORPORATION'S PRESIDENT AND SELECTED BOARD MEMBERS WILL REVIEW AND APPROVE THE FORM 990. THE PRESIDENT WILL SIGN IT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization has been advanced funds from Fidelity Cap V, LLC in the aggregate amount of $7,151,782, which was used to pay debt service, fund operating deficits and fund rehabilitation of the properties of the Subsidiaries. The advances bear interest at the rate of 10% per annum, compounded monthly. The advances are to be paid from distributions of cash flow from the Subsidiaries to the Organization. As of December 31, 2013, accrued interest payable was $4,733,810. Greenbridge and Tenison were also advanced funds from Fidelity Cap V, LLC in the aggregate amount of $2,286,879. These advances are unsecured, noninterest bearing and will be repaid from cash flow from the projects.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI, SECTION B, QUESTION 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, SECTION C, QUESTION 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART X, LINE 24
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine10Placet
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine11Placet
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine10Greenbridge at Buckingham LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine11GREENBRIDGE AT WILLIAMS RUN LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0752906601
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1752906600
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt012936536
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt110697924
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0Real Estate
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1Real Estate
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0-370454
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt165178
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine10535 East Buckingham Road
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine117440 La Vista Drive
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/City0Richardson
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/City1Dallas
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/State0TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/State1TX
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCode075081
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCode175214
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine10NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine11NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10Rainbow Housing Assistance Corp
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine11Texas Council of Foundation for Social R
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0300108119
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1752536782
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(c)(3)

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,634,468
Liabilities
$45,527,603
Net assets
-$21,893,135
Revenue
$4,640,202
Expenses
$6,163,043
Net income
-$1,522,841
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.66$0.02$6.67$0.48$0.42$0.07
2023Detailed filing. Detailed filing data is available for this year.$3.31$0.01$3.32$0.38$0.37$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.09$0.23$0.24$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.52$0.32$0.20
2020Detailed filing. Detailed filing data is available for this year.$0.06$0.16$0.09$0.18$0.23$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.05$0.05$0.00$0.02$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.03$0.03$0.00$0.03$0.03
2017Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.01$0.02$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$12.1$2.84$9.31
2015Detailed filing. Detailed filing data is available for this year.$12.3$25.7$13.4$18.3$6.88$11.4
2014Detailed filing. Detailed filing data is available for this year.$23.0$47.8$24.8$4.97$6.39$1.41
2013Detailed filing. Detailed filing data is available for this year.$23.6$45.5$21.9$4.64$6.16$1.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.4$44.8$20.4$6.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.3$43.6$18.3$7.98
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.1$41.1$15.0$4.45