Civic Intelligence

Clt Interboro Clt Housing Development Fund Corporation

990 • Fiscal year 2021 • EIN 82-4363742

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileN/A
55 Broad Street 10 FLNew York, NY 10004

(646) 237-5920

Siviq Scores

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

Liabilities / Assets

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2021

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2021

Top Officer Pay

45th percentile

$0

Higher top officer pay than 45% of similar nonprofits.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2021

Asset Growth

9th percentile

-8.6%

Faster asset growth than 9% of similar nonprofits.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2021 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets18th percentile

Assets

Down

$1,632,696

Down $152,932 (-8.6%) from 2020

Net Assets

Down

$1,594,156

Down $165,472 (-9.4%) from 2020

Liabilities

Up

$38,540

Up $12,540 (+48%) from 2020

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$0

Down $1,115,000 (-100%) from 2020

Expenses

Down

$165,472

Down $221,013 (-57%) from 2020

Net Income

Down

-$165,472

Down $893,987 (-123%) from 2020

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

2021

Assets$1,632,696
Liabilities$38,540
Net Assets$1,594,156
Open 2021 Filing

Operations Trend

Revenue Growth1st 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

2021

Revenue$0
Expenses$165,472
Net Income-$165,472
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.1
Gross Receipts
$0
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$1,279,628$504,742▼ $774,886
Investments Program Related-$500,000-
Accounts Receivable$400,000$400,000→ $0
Land, Buildings, and Equipment, Net$106,000$226,000▲ $120,000
Prepaid Expenses and Deferred Charges-$1,954-
Cash and Non-Interest-Bearing Accounts-$0-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,785,628$1,632,696▼ $152,932
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$26,000$38,540▲ $12,540
Total Liabilities$26,000$38,540▲ $12,540
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,653,628$1,368,156▼ $285,472
Net Assets Without Donor Restrictions$106,000$226,000▲ $120,000
Total Net Assets Fund Balance$1,759,628$1,594,156▼ $165,472
Total Liabilities and Net Assets / Fund Balance$1,785,628$1,632,696▼ $152,932

Asset Categories

AssetBook ValueDepreciationBasis
Land$226,000-$226,000
Compensation and Service Providers
Top Officer Pay45th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-165,472
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$91,274
Other Expenses$74,198
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$69,583--$69,583
Fees for Services Legal$31,475--$31,475
Other Employee Benefits$21,691--$21,691
Fees for Services Accounting-$11,000-$11,000
Insurance$3,953--$3,953
Office Expenses$1,766$82-$1,848
Information Technology$216--$216
Other Expenses$81$25,625-$81
Total Functional Expenses$128,765$36,707$0$165,472
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
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 2022.”

Filing and Contact Details

Filer

Filer Name
CLT Interboro CLT Housing Development
EIN
82-4363742
Phone
6462375920
Address
55 Broad Street 10 FL, New York, NY 10004

Signing Officer

Name
Christie Peale
Title
Board Chair
Signed
2022-11-15
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 FL 19, New York, NY 10001
Preparer
Baruti Bediako CPA
Phone
2124477300
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board members receive a final version of the tax return for review prior to the filing date.
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 2022.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 Part VI, Sec B, Lines 12 through 14
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Christie Peale
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
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ReturnHeader/PreparerPersonGrp/PhoneNum02124477300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Baruti Bediako CPA
ReturnHeader/ReturnTs02022-11-15T11:06:36-08:00
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ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,632,696
Liabilities
$38,540
Net assets
$1,594,156
Revenue
$0
Expenses
$165,472
Net income
-$165,472
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