Civic Intelligence

Building 127 LL Inc.

990 • Fiscal year 2018 • EIN 83-1766314

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 23, 2019

Organization ProfileN/A
63 Flushing Avenue Unit 300Brooklyn, NY 11205

(718) 907-5931

Siviq Scores

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

Liabilities / Assets

94th percentile

1.01x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

100th percentile

381.32x

Higher debt load relative to revenue than 100% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

1st percentile

-550%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

38th percentile

$207,752

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 312.1% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

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

Source year 2018

Revenue Growth

Score unavailable

No value available

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

Source year 2018

Balance Sheet
Liabilities / Assets94th percentile

Assets

$25,016,409

No earlier filing loaded for comparison.

Net Assets

-$366,035

No earlier filing loaded for comparison.

Liabilities

$25,382,444

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

$66,564

No earlier filing loaded for comparison.

Expenses

$432,599

No earlier filing loaded for comparison.

Net Income

-$366,035

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$40M$20M$0-$20MAssets 2018: $25,016,409Liabilities 2018: $25,382,444Net Assets 2018: -$366,0352018Assets 2019: $25,356,273Liabilities 2019: $27,090,721Net Assets 2019: -$1,734,4482019Assets 2020: $25,037,788Liabilities 2020: $28,218,000Net Assets 2020: -$3,180,2122020Assets 2021: $25,028,837Liabilities 2021: $29,141,942Net Assets 2021: -$4,113,1052021Assets 2022: $25,329,016Liabilities 2022: $30,829,100Net Assets 2022: -$5,500,0842022Assets 2023: $25,037,754Liabilities 2023: $31,878,752Net Assets 2023: -$6,840,9982023Assets 2024: $25,841,474Liabilities 2024: $34,002,518Net Assets 2024: -$8,161,0442024Assets 2025: $25,973,936Liabilities 2025: $35,360,833Net Assets 2025: -$9,386,8972025

Highlighted filing

2018

Assets$25,016,409
Liabilities$25,382,444
Net Assets-$366,035
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2018: $66,564Expenses 2018: $432,599Net Income 2018: -$366,0352018Revenue 2019: $249,530Expenses 2019: $1,617,943Net Income 2019: -$1,368,4132019Revenue 2020: $249,530Expenses 2020: $1,695,294Net Income 2020: -$1,445,7642020Revenue 2021: $709,716Expenses 2021: $1,642,609Net Income 2021: -$932,8932021Revenue 2022: $249,530Expenses 2022: $1,636,509Net Income 2022: -$1,386,9792022Revenue 2023: $249,531Expenses 2023: $1,590,445Net Income 2023: -$1,340,9142023Revenue 2024: $268,876Expenses 2024: $1,588,922Net Income 2024: -$1,320,0462024Revenue 2025: $279,145Expenses 2025: $1,504,998Net Income 2025: -$1,225,8532025

Highlighted filing

2018

Revenue$66,564
Expenses$432,599
Net Income-$366,035
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 23, 2019
Return Version
2018v3.1
Gross Receipts
$66,564
Mission and Program Overview

Mission

Building 127 ll, inc. Was formed as part of brooklyn navy yard development corporation's ("bnydc") efforts to renovate building 127 (the "project"), an industrial facility, that is a certified historic structure and is eligible for investment tax credits for qualifying rehabilitation expenditures pursuant to section 47 of the irc. The corporation will engage solely in the facilitation of financing for redevelopment and subsequent leasing of building 127. To facilitate the financing of the project renovations, the corporation borrowed funds and will use the proceeds of the loans to make a loan to the investment fund

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$3,877▲ $3,877
Accounts Receivable$0--
Total Assets$0$25,016,409▲ $25,016,409
Other Assets Total$0$25,012,532▲ $25,012,532
Liabilities
Mortgage Notes Payable Secured by Investment Property-$24,997,822-
Accounts Payable and Accrued Expenses$0$380,844▲ $380,844
Other Liabilities$0$3,778▲ $3,778
Total Liabilities$0$25,382,444▲ $25,382,444
Net Assets / Fund Balance
Unrestricted Net Assets-$-366,035-
Total Net Assets Fund Balance$0$-366,035▼ $366,035
Total Liabilities and Net Assets / Fund Balance$0$25,016,409▲ $25,016,409

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$24,953,000--
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleOtherTotal
Julia MillerSecretary$115,491$115,491

Board Members and Trustees

NameTitle
Paul KellyPresident, Director
Chris TepperDirector
Wimal AriyawansaTreasurer, Director
Clare NewmanVP, Director
Revenue and Support

Revenue Composition

Contributions and Grants
$100
Program Service Revenue
$66,464
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-366,035

Audited Revenue Reconciliation

Revenue per Audited Statements
$66,564
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$66,564
Total Revenue per Form 990
$66,564
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$432,599
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
Interest$423,027--$423,027
Depreciation Depletion$9,572--$9,572
Total Functional Expenses$432,599$0$0$432,599

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$432,599
Total Expenses per Audited Statements$432,599
Total Expenses per Form 990$432,599
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due To/from Affiliate$3,778
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A complete copy of the form 990 is made available to the members of the governing body before filing.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is reviewed annually at executive committee meetings by the board of directors and senior management. All members sign this document upon review and agreement.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and policies are available for public inspection at the organization's office during regular business hours upon request.”

Filing and Contact Details

Filer

Filer Name
Building 127 Ll Inc
EIN
83-1766314
Phone
7189075931
Address
63 FLUSHING AVENUE UNIT 300, BROOKLYN, NY 11205

Signing Officer

Name
Wimal Ariyawansa
Title
Treasurer
Phone
7189075931
Signed
2019-09-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Madonia
Formed
2018
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
500 EAST PRATT STREET 4TH FLOOR, BALTIMORE, MD 21202
Preparer
Philip H Cornblatt
Phone
4107834900
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The corporation has applied to be a tax-exempt entity pursuant to section 501(c)(3) of the irc and did not have any unrelated business income for the period ended december 31, 2018. Accordingly, these financial statements do not reflect a provision for income taxes and the corporation has no other tax positions which must be considered for disclosure. The corporation is required to file and does file tax returns with the internal revenue service (the "irs") and other taxing authorities. Income tax returns filed by the corporation are subject to examination by the irs for a period of three years. While no income tax returns are currently being examined by the irs, tax years since 2018 remain open.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS APPLIED TO BE A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE IRC AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE PERIOD ENDED DECEMBER 31, 2018. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE (THE "IRS") AND OTHER TAXING AUTHORITIES. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2018 REMAIN OPEN.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CLARE NEWMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1PAUL KELLY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2WIMAL ARIYAWANSA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0VP, DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT, DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2TREASURER, DIRECTOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2206251
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COMPLETE COPY OF THE FORM 990 IS MADE AVAILABLE TO THE MEMBERS OF THE GOVERNING BODY BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY AT EXECUTIVE COMMITTEE MEETINGS BY THE BOARD OF DIRECTORS AND SENIOR MANAGEMENT. ALL MEMBERS SIGN THIS DOCUMENT UPON REVIEW AND AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990/SchoolOperatingInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt025016409
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IRS990/TotalEmployeeCnt00
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IRS990/TotalProgramServiceRevenueAmt066464
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt066464
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt066564
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IRS990/TotalVolunteersCnt00
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WIMAL ARIYAWANSA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07189075931
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-09-23
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,016,409
Liabilities
$25,382,444
Net assets
-$366,035
Revenue
$66,564
Expenses
$432,599
Net income
-$366,035
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$26.0$35.4$9.39$0.28$1.50$1.23
2024Detailed filing. Detailed filing data is available for this year.$25.8$34.0$8.16$0.27$1.59$1.32
2023Detailed filing. Detailed filing data is available for this year.$25.0$31.9$6.84$0.25$1.59$1.34
2022Detailed filing. Detailed filing data is available for this year.$25.3$30.8$5.50$0.25$1.64$1.39
2021Detailed filing. Detailed filing data is available for this year.$25.0$29.1$4.11$0.71$1.64$0.93
2020Detailed filing. Detailed filing data is available for this year.$25.0$28.2$3.18$0.25$1.70$1.45
2019Detailed filing. Detailed filing data is available for this year.$25.4$27.1$1.73$0.25$1.62$1.37
2018Detailed filing. Detailed filing data is available for this year.$25.0$25.4$0.37$0.07$0.43$0.37