Civic Intelligence

Building 127 LL Inc.

990 • Fiscal year 2020 • EIN 83-1766314

Jan 01, 2020 to Dec 31, 2020 • Filed on May 05, 2021

Organization ProfileN/A
141 Flushing Avenue No 801Brooklyn, NY 11205

(718) 907-5981

Siviq Scores

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

Liabilities / Assets

96th percentile

1.13x

Higher debt load relative to assets than 96% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

113.08x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

1st percentile

-579%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

47th percentile

$234,482

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 94.0% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

21st percentile

-1.3%

Faster asset growth than 21% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

42nd percentile

0.0%

Faster revenue growth than 42% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$25,037,788

Down $318,485 (-1.3%) from 2019

Net Assets

Down

-$3,180,212

Down $1,445,764 (-83%) from 2019

Liabilities

Up

$28,218,000

Up $1,127,279 (+4.2%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Flat

$249,530

Flat from 2019

Expenses

Up

$1,695,294

Up $77,351 (+4.8%) from 2019

Net Income

Down

-$1,445,764

Down $77,351 (-5.7%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

2020

Assets$25,037,788
Liabilities$28,218,000
Net Assets-$3,180,212
Open 2020 Filing

Operations Trend

Revenue Growth42nd percentile

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

2020

Revenue$249,530
Expenses$1,695,294
Net Income-$1,445,764
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 5, 2021
Return Version
2020v4.1
Gross Receipts
$249,530
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$340,890$62,561▼ $278,329
Total Assets$25,356,273$25,037,788▼ $318,485
Other Assets Total$25,015,383$24,975,227▼ $40,156
Liabilities
Mortgage Notes Payable Secured by Investment Property$26,683,940$27,796,596▲ $1,112,656
Accounts Payable and Accrued Expenses$400,444$421,404▲ $20,960
Other Liabilities$6,337$0▼ $6,337
Total Liabilities$27,090,721$28,218,000▲ $1,127,279
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,734,448$-3,180,212▼ $1,445,764
Total Net Assets Fund Balance$-1,734,448$-3,180,212▼ $1,445,764
Total Liabilities and Net Assets / Fund Balance$25,356,273$25,037,788▼ $318,485

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$22,227--
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleOtherTotal
Julia MillerSecretary$122,249$122,249

Board Members and Trustees

NameTitle
Paul KellyPresident, Director
Chris TepperDirector
Wimal AriyawansaTreasurer, Director
Johanna GreenbaumVP, Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$249,530
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-1,445,764

Audited Revenue Reconciliation

Revenue per Audited Statements
$249,530
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$249,530
Total Revenue per Form 990
$249,530
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,695,294
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$1,684,644--$1,684,644
Fees for Services Accounting-$10,650-$10,650
Total Functional Expenses$1,684,644$10,650$0$1,695,294

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,695,294
Total Expenses per Audited Statements$1,695,294
Total Expenses per Form 990$1,695,294
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
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
7189075981
Address
141 FLUSHING AVENUE NO 801, BROOKLYN, NY 11205

Signing Officer

Name
Wimal Ariyawansa
Title
Treasurer
Phone
7189075981
Signed
2021-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Kelly
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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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1WIMAL ARIYAWANSA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2PAUL KELLY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0VP, DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER, DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2PRESIDENT, DIRECTOR
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IRS990ScheduleJ/SeverancePaymentInd00
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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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
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IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0BROOKLYN NAVY YARD DEVELOPMENT CORPORATION
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3180212
IRS990/TotalOtherCompensationAmt00
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IRS990/TotalVolunteersCnt00
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IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,037,788
Liabilities
$28,218,000
Net assets
-$3,180,212
Revenue
$249,530
Expenses
$1,695,294
Net income
-$1,445,764
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