Civic Intelligence

Clt Interboro Clt Housing Development Fund Corporation

990 • Fiscal year 2019 • EIN 82-4363742

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileN/A
55 Broad StreetNew York, NY 10004

(646) 237-5920

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.06x

Higher debt load relative to assets than 23% of similar nonprofits.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

21st percentile

0.34x

Higher debt load relative to revenue than 21% of similar nonprofits.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2019

Net Margin

10th percentile

-85%

Higher net margin than 10% of similar nonprofits.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

44th percentile

$0

Higher top officer pay than 44% of similar nonprofits.

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

2019 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2019

Asset Growth

9th percentile

-8.5%

Faster asset growth than 9% of similar nonprofits.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

4th percentile

-88%

Faster revenue growth than 4% of similar nonprofits.

2019 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Down

$1,098,298

Down $102,063 (-8.5%) from 2018

Net Assets

Down

$1,031,113

Down $169,248 (-14%) from 2018

Liabilities

Up

$67,185

Up $67,185 from 2018

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin10th percentile

Revenue

Down

$200,000

Down $1,524,762 (-88%) from 2018

Expenses

Down

$369,248

Down $155,153 (-30%) from 2018

Net Income

Down

-$169,248

Down $1,369,609 (-114%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2018: $1,200,361Liabilities 2018: $0Net Assets 2018: $1,200,3612018Assets 2019: $1,098,298Liabilities 2019: $67,185Net Assets 2019: $1,031,1132019Assets 2020: $1,785,628Liabilities 2020: $26,000Net Assets 2020: $1,759,6282020Assets 2021: $1,632,696Liabilities 2021: $38,540Net Assets 2021: $1,594,1562021Assets 2022: $1,382,252Liabilities 2022: $49,581Net Assets 2022: $1,332,6712022Assets 2023: $1,372,609Liabilities 2023: $80,525Net Assets 2023: $1,292,0842023Assets 2024: $1,340,476Liabilities 2024: $29,825Net Assets 2024: $1,310,6512024

Highlighted filing

2019

Assets$1,098,298
Liabilities$67,185
Net Assets$1,031,113
Open 2019 Filing

Operations Trend

Revenue Growth4th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2018: $1,724,762Expenses 2018: $524,401Net Income 2018: $1,200,3612018Revenue 2019: $200,000Expenses 2019: $369,248Net Income 2019: -$169,2482019Revenue 2020: $1,115,000Expenses 2020: $386,485Net Income 2020: $728,5152020Revenue 2021: $0Expenses 2021: $165,472Net Income 2021: -$165,4722021Revenue 2022: $311,735Expenses 2022: $311,658Net Income 2022: $772022Revenue 2023: $161,810Expenses 2023: $244,409Net Income 2023: -$82,5992023Revenue 2024: $193,960Expenses 2024: $175,393Net Income 2024: $18,5672024

Highlighted filing

2019

Revenue$200,000
Expenses$369,248
Net Income-$169,248
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.0
Gross Receipts
$200,000
Mission and Program Overview

Mission

Balancing permanent affordability, equity building, and neighborhood stability, Interboro CLT supports New Yorkers and strengthens communities through the development and stewardship of permanently affordable homes for ownership by low-income households across the five boroughs of New York City.

The Corporation is formed exclusively for the purpose of developing and supporting one or more housing projects to service Persons of Low Income, through its ownership and stewardship of the land beneath rental subprojects and homeownership subprojects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,200,361$1,098,298▼ $102,063
Cash and Non-Interest-Bearing Accounts-$0-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,200,361$1,098,298▼ $102,063
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$67,185-
Total Liabilities$0$67,185▲ $67,185
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,200,361$1,031,113▼ $169,248
Total Net Assets Fund Balance$1,200,361$1,031,113▼ $169,248
Total Liabilities and Net Assets / Fund Balance$1,200,361$1,098,298▼ $102,063
Compensation and Service Providers
Top Officer Pay44th percentile

Board Members and Trustees

NameTitle
Christie PealeBoard Chair
Andrew Reichervice Chair
Ismene SpeliotisSecretary
Karen HaycoxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$200,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$200,000
Change in Net Assets
$-169,248
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$369,248
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$365,248--$365,248
Fees for Services Accounting-$4,000-$4,000
Total Functional Expenses$365,248$4,000$0$369,248
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Christie PealeBoard ChairPmt for CLT ExpendituresNo-

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The board members receive a final version of the tax return for review prior to the filing date.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The governing documents and financial statements are available to the public upon request.”

Form 990 Part VI, Sec B, Lines 12 through 14

“Recently incorporated, Interboro CLT has draft conflict of interest, whistleblower, and document retention policies and plans to adopt them by the close of 2019.”

Filing and Contact Details

Filer

Filer Name
CLT Interboro CLT Housing Development
EIN
82-4363742
Phone
6462375920
Address
55 Broad Street, New York, NY 10004

Signing Officer

Name
Christie Peale
Title
Board Chair
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christie Peale
Formed
2018
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Watsonrice Llp
Address
5 PENN PLZ 15TH FL, NEW YORK, NY 10001
Preparer
Baruti Bediako CPA
Phone
2124477300
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Christie Peale
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Board Chair
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Pmt for CLT Expenditures
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0Christie Peale the Board Chairperson is the CEO/ED of The Center for New York City Neighborhoods (the Center) which was paid $260,412 primarily for staff time in support of Interboro CLT's work and for corporate legal fees incurrred by the Center on behalf of Interboro CLT.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The governing documents and financial statements are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Recently incorporated, Interboro CLT has draft conflict of interest, whistleblower, and document retention policies and plans to adopt them by the close of 2019.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 Part VI, Sec B, Lines 12 through 14
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IRS990/TotalContributionsAmt0200000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04000
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0365248
IRS990/TotalFunctionalExpensesGrp/TotalAmt0369248
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt067185
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt067185
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01200361
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01031113
IRS990/TotalProgramServiceExpensesAmt0365248
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0200000
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01200361
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01098298
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt055 Broad Street 10 FL
IRS990/USAddress/CityNm0New York
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010004
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Christie Peale
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CLT Interboro CLT Housing Development
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Fund Corporation
ReturnHeader/Filer/BusinessNameControlTxt0CLTI
ReturnHeader/Filer/EIN0824363742
ReturnHeader/Filer/PhoneNum06462375920
ReturnHeader/Filer/USAddress/AddressLine1Txt055 Broad Street
ReturnHeader/Filer/USAddress/CityNm0New York
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010004
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0261726741
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WATSONRICE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05 PENN PLZ 15TH FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010001
ReturnHeader/PreparerPersonGrp/PhoneNum02124477300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Baruti Bediako CPA
ReturnHeader/ReturnTs02020-11-13T19:26:32-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,098,298
Liabilities
$67,185
Net assets
$1,031,113
Revenue
$200,000
Expenses
$369,248
Net income
-$169,248
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.34$0.03$1.31$0.19$0.18$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.37$0.08$1.29$0.16$0.24$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.38$0.05$1.33$0.31$0.31$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.63$0.04$1.59$0.00$0.17$0.17
2020Detailed filing. Detailed filing data is available for this year.$1.79$0.03$1.76$1.12$0.39$0.73
2019Detailed filing. Detailed filing data is available for this year.$1.10$0.07$1.03$0.20$0.37$0.17
2018Detailed filing. Detailed filing data is available for this year.$1.20$0.00$1.20$1.72$0.52$1.20