Civic Intelligence

Pine Oaks One LLC

990 • Fiscal year 2020 • EIN 82-0635009

Jan 01, 2020 to Dec 31, 2020 • Filed on Feb 26, 2021

61 John Nelson WayHarwich, MA 02645

(508) 432-9611

Siviq Scores

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

Liabilities / Assets

98th percentile

1.65x

Higher debt load relative to assets than 98% of similar nonprofits.

2020 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

4.49x

Higher debt load relative to revenue than 73% of similar nonprofits.

2020 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2020

Net Margin

50th percentile

13%

Higher net margin than 50% of similar nonprofits.

2020 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

2020 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2020

Asset Growth

71st percentile

2.4%

Faster asset growth than 71% of similar nonprofits.

2020 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

70th percentile

7.1%

Faster revenue growth than 70% of similar nonprofits.

2020 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$2,936,165

Up $68,275 (+2.4%) from 2019

Net Assets

Up

-$1,916,315

Up $142,847 (+6.9%) from 2019

Liabilities

Down

$4,852,480

Down $74,572 (-1.5%) from 2019

Revenue

Up

$1,079,640

Up $71,376 (+7.1%) from 2019

Expenses

Down

$936,793

Down $33,810 (-3.5%) from 2019

Net Income

Up

$142,847

Up $105,186 (+279%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2017: $3,917,018Liabilities 2017: $5,088,797Net Assets 2017: -$1,171,7792017Assets 2019: $2,867,890Liabilities 2019: $4,927,052Net Assets 2019: -$2,059,1622019Assets 2020: $2,936,165Liabilities 2020: $4,852,480Net Assets 2020: -$1,916,3152020Assets 2021: $2,858,372Liabilities 2021: $4,687,697Net Assets 2021: -$1,829,3252021Assets 2022: $2,885,846Liabilities 2022: $4,618,326Net Assets 2022: -$1,732,4802022Assets 2023: $3,105,485Liabilities 2023: $4,525,873Net Assets 2023: -$1,420,3882023Assets 2024: $3,035,562Liabilities 2024: $4,481,792Net Assets 2024: -$1,446,2302024

Highlighted filing

2020

Assets$2,936,165
Liabilities$4,852,480
Net Assets-$1,916,315

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Revenue 2017: $279,940Expenses 2017: $250,937Net Income 2017: $29,0032017Revenue 2019: $1,008,264Expenses 2019: $970,603Net Income 2019: $37,6612019Revenue 2020: $1,079,640Expenses 2020: $936,793Net Income 2020: $142,8472020Revenue 2021: $1,064,083Expenses 2021: $977,093Net Income 2021: $86,9902021Revenue 2022: $1,084,549Expenses 2022: $987,704Net Income 2022: $96,8452022Revenue 2023: $1,532,338Expenses 2023: $1,043,136Net Income 2023: $489,2022023Revenue 2024: $1,556,258Expenses 2024: $1,094,428Net Income 2024: $461,8302024

Highlighted filing

2020

Revenue$1,079,640
Expenses$936,793
Net Income$142,847
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Feb 26, 2021
Return Version
2020v4.0
Gross Receipts
$1,079,640
Mission and Program Overview

Mission

Provide affordable housing for elderly and handicapped and is financed by the united states department of hud and rural economic and community development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,112,702$2,067,631▼ $45,071
Cash and Non-Interest-Bearing Accounts$26,989$120,304▲ $93,315
Prepaid Expenses and Deferred Charges$41,615$50,319▲ $8,704
Accounts Receivable$5,748$5,773▲ $25
Total Assets$2,867,890$2,936,165▲ $68,275
Other Assets Total$680,836$692,138▲ $11,302
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,873,690$4,792,618▼ $81,072
Accounts Payable and Accrued Expenses$32,916$39,400▲ $6,484
Escrow Account Liability$20,446$20,462▲ $16
Total Liabilities$4,927,052$4,852,480▼ $74,572
Net Assets / Fund Balance
Net Assets With Donor Restrictions$-2,059,162$-1,916,315▲ $142,847
Total Net Assets Fund Balance$-2,059,162$-1,916,315▲ $142,847
Total Liabilities and Net Assets / Fund Balance$2,867,890$2,936,165▲ $68,275

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,502,260$2,829,640$4,331,900
Land$300,820-$300,820
Equipment$264,551-$264,551
Other Assets Org$21,496--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mary Ann JanickPresident
-Director
Bob DoaneDirector
Forrest EatonDirector
Joe Della MorteDirector
Joyce WilliamsDirector
Kathy CockcroftDirector
Laurian SchultzDirector
Paul FoxDirector
Phyllis CushlanisSecretary
Debra BessettTreasurer
Edith RugglesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$735,594
Program Service Revenue
$304,122
Investment Income
$806
Other Revenue
$39,118
Change in Net Assets
$142,847

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,079,640
Total Revenue per Audited Statements
$1,079,640
Total Revenue per Form 990
$1,079,640
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$719,734
Salaries, Compensation, and Employee Benefits$217,059
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$179,910--$179,910
Other Salaries and Wages$87,731$82,373-$170,104
Occupancy$152,331--$152,331
Depreciation Depletion$121,069--$121,069
Insurance$53,936--$53,936
Fees for Services Management-$50,549-$50,549
Payroll Taxes$46,955--$46,955
All Other Expenses$29,829$115-$29,944
Other Expenses$14,261$29,240-$14,261
Office Expenses-$13,264-$13,264
Fees for Services Accounting-$10,500-$10,500
Advertising-$706-$706
Total Functional Expenses$750,046$186,747$0$936,793

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$936,793
Total Expenses per Audited Statements$936,793
Total Expenses per Form 990$936,793
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
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
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

MANAGEMENT COMPANY

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

Copy of form 990 provided to all board members at annual meeting.

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

Board enforces conflict policy.

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

Performed by management company for management company employees.

Form 990, Page 6, Part VI, Line 18

Form 990 and governing documents are available to the public upon request.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Pine Oaks One LLC
EIN
82-0635009
Phone
5084329611
Address
61 JOHN NELSON WAY, HARWICH, MA 02645

Signing Officer

Name
Debra Bessett
Title
Treasurer
Phone
5084329611
Signed
2021-02-26

Organization Details

Formed
2017
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Sanders Walsh & Eaton Cpas LLC
Address
PO BOX F, OSTERVILLE, MA 02655
Preparer
Joseph F Mcgee CPA
Phone
5084280790
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Hud approved distribution 0

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The organization is required by hud to maintain tenants' security deposits

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IRS990ScheduleD/LandGrp/BookValueAmt0300820
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0300820
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0559887
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt186617
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt224138
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt321496
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFERRED FINANCING COSTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2PROPERTY ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANT DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt01079640
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS REQUIRED BY HUD TO MAINTAIN TENANTS' SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02067631
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0692138
IRS990ScheduleD/TotalExpensesPerForm990Amt0936793
IRS990ScheduleD/TotalRevenuePerForm990Amt01079640
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IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT COMPANY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPY OF FORM 990 PROVIDED TO ALL BOARD MEMBERS AT ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD ENFORCES CONFLICT POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PERFORMED BY MANAGEMENT COMPANY FOR MANAGEMENT COMPANY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6HUD APPROVED DISTRIBUTION 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1MIDCAPE CH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine2Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine2Txt1MIDCAPE CHURCH HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MIDCAPE CHURCH HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1PINE OAKS III INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt0MIDCAPE CHURCH HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt1PINE OAKS III INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0042623918
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1043329757
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt17
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt061 JOHN NELSON WAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1300 LEIGHTONS WAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine2Txt061 JOHN NELSON WAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine2Txt1300 LEIGHTONS WAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0HARWICH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1HARWICH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1MA
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0PINE OAKS ONE LLC WAS CREATED AS A 501C(2) REAL ESTATE HOLDING ENTITY TO ACCOMODATE A HUD REQUIREMENT FOR A "SINGLE ENTITY" PURSUANT TO A HUD INSURED MORTGAGE PLACED ON A 60 UNIT AFFORDABLE ELDERLY HOUSING COMPLEX. 3,389,105 OF NET BOOK VALUE WAS TRANSFERRED FROM MIDCAPE CHURCH HOMES TO PINE OAKS ONE LLC ON 9/20/17 TO ACCOMODATE THE HUD REQUIREMENT OF A INSURED 223(F) MORTGAGE TRANSACTION. BOTH ENTITIES ARE CONTROLLED BY THE SAME BOARD.
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE R
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0735594
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0750046
IRS990/TotalFunctionalExpensesGrp/TotalAmt0936793
IRS990/TotalGrossUBIAmt00

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