Civic Intelligence

Pine Oaks One LLC

990 • Fiscal year 2023 • EIN 82-0635009

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 22, 2024

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

97th percentile

1.46x

Higher debt load relative to assets than 97% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

2.95x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2023

Net Margin

64th percentile

32%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2023

Asset Growth

85th percentile

7.6%

Faster asset growth than 85% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

80th percentile

41%

Faster revenue growth than 80% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$3,105,485

Up $219,639 (+7.6%) from 2022

Net Assets

Up

-$1,420,388

Up $312,092 (+18%) from 2022

Liabilities

Down

$4,525,873

Down $92,453 (-2.0%) from 2022

Revenue

Up

$1,532,338

Up $447,789 (+41%) from 2022

Expenses

Up

$1,043,136

Up $55,432 (+5.6%) from 2022

Net Income

Up

$489,202

Up $392,357 (+405%) from 2022

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

2023

Assets$3,105,485
Liabilities$4,525,873
Net Assets-$1,420,388

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

2023

Revenue$1,532,338
Expenses$1,043,136
Net Income$489,202
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 22, 2024
Return Version
2023v5.0
Gross Receipts
$1,532,338
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$2,016,116$2,029,730▲ $13,614
Cash and Non-Interest-Bearing Accounts$264,532$305,039▲ $40,507
Other Notes and Loans Receivable, Net-$250,739-
Prepaid Expenses and Deferred Charges$52,962$60,489▲ $7,527
Accounts Receivable$17,115$11,200▼ $5,915
Total Assets$2,885,846$3,105,485▲ $219,639
Other Assets Total$535,121$448,288▼ $86,833
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,540,636$4,453,411▼ $87,225
Accounts Payable and Accrued Expenses$56,619$49,830▼ $6,789
Escrow Account Liability$21,071$22,632▲ $1,561
Total Liabilities$4,618,326$4,525,873▼ $92,453
Net Assets / Fund Balance
Net Assets With Donor Restrictions$-1,732,480$-1,420,388▲ $312,092
Total Net Assets Fund Balance$-1,732,480$-1,420,388▲ $312,092
Total Liabilities and Net Assets / Fund Balance$2,885,846$3,105,485▲ $219,639

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,461,624$3,202,348$4,663,972
Land$300,820-$300,820
Equipment$267,286-$267,286
Other Assets Org$23,812--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joe Della MortePresident
-Director
Albert DeyDirector
Joanne ClancyDirector
John ClarkeDirector
Joyce WilliamsDirector
Kathy CockcroftDirector
Laurian SchultzDirector
Debra BessettAssistanttre
Phyllis CushlanisSecretary
Forrest EatonTreasurer
Robert DoaneVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,181,142
Program Service Revenue
$348,758
Investment Income
$2,438
Other Revenue
$0
Change in Net Assets
$489,202

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,532,338
Total Revenue per Audited Statements
$1,532,338
Total Revenue per Form 990
$1,532,338
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$818,628
Salaries, Compensation, and Employee Benefits$224,508
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$86,863$94,922-$181,785
Interest$170,388--$170,388
Occupancy$137,233--$137,233
Depreciation Depletion$122,346--$122,346
Fees for Services Management-$74,529-$74,529
Insurance$69,968--$69,968
All Other Expenses$46,368$660-$47,028
Payroll Taxes$42,723--$42,723
Office Expenses-$20,639-$20,639
Other Expenses$19,617$52,040-$19,617
Fees for Services Accounting-$12,500-$12,500
Fees for Services Legal-$740-$740
Advertising-$492-$492
Total Functional Expenses$786,614$256,522$0$1,043,136

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,043,136
Total Expenses per Audited Statements$1,043,136
Total Expenses per Form 990$1,043,136
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
Forrest Eaton
Title
Treasurer
Phone
5084329611
Signed
2024-04-22

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

Distribution of surplus cash to sole member -177,110

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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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt134751
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt22942
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0311065
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt134751
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt22942
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0756364
IRS990/PYInvestmentIncomeAmt0608
IRS990/PYOtherExpensesAmt0763725
IRS990/PYOtherRevenueAmt08669
IRS990/PYProgramServiceRevenueAmt0318908
IRS990/PYRevenuesLessExpensesAmt096845
IRS990/PYSalariesCompEmpBnftPaidAmt0223979
IRS990/PYTotalExpensesAmt0987704
IRS990/PYTotalRevenueAmt01084549
IRS990/ReconcilationRevenueExpnssAmt0489202
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01461624
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03202348
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04663972
IRS990ScheduleD/EquipmentGrp/BookValueAmt0267286
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0267286
IRS990ScheduleD/ExpensesSubtotalAmt01043136
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt0300820
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0300820
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0378702
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt145774
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt223812
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1PROPERTY ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt01532338
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS REQUIRED BY HUD TO MAINTAIN TENANTS' SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02029730
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0448288
IRS990ScheduleD/TotalExpensesPerForm990Amt01043136
IRS990ScheduleD/TotalRevenuePerForm990Amt01532338
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01532338
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01043136
IRS990/ScheduleJRequiredInd0false
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/ExplanationTxt6DISTRIBUTION OF SURPLUS CASH TO SOLE MEMBER -177,110
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
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0MIDCAPE CH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
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
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd002645
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd102645
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02885846
IRS990/TotalAssetsEOYAmt03105485
IRS990/TotalAssetsGrp/BOYAmt02885846
IRS990/TotalAssetsGrp/EOYAmt03105485
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01181142

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