Civic Intelligence

Building 127 LL Inc.

990 • Fiscal year 2022 • EIN 83-1766314

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 17, 2023

Organization ProfileN/A
141 Flushing Avenue 801Brooklyn, NY 11205

(718) 907-5981

Siviq Scores

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

Liabilities / Assets

97th percentile

1.22x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

100th percentile

123.55x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

1st percentile

-556%

Higher net margin than 1% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

71st percentile

$355,860

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 142.6% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

53rd percentile

1.2%

Faster asset growth than 53% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

4th percentile

-65%

Faster revenue growth than 4% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$25,329,016

Up $300,179 (+1.2%) from 2021

Net Assets

Down

-$5,500,084

Down $1,386,979 (-34%) from 2021

Liabilities

Up

$30,829,100

Up $1,687,158 (+5.8%) from 2021

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$249,530

Down $460,186 (-65%) from 2021

Expenses

Down

$1,636,509

Down $6,100 (-0.4%) from 2021

Net Income

Down

-$1,386,979

Down $454,086 (-49%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth53rd 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

2022

Assets$25,329,016
Liabilities$30,829,100
Net Assets-$5,500,084
Open 2022 Filing

Operations Trend

Revenue Growth4th 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

2022

Revenue$249,530
Expenses$1,636,509
Net Income-$1,386,979
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 17, 2023
Return Version
2022v5.0
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$13,455$313,634▲ $300,179
Total Assets$25,028,837$25,329,016▲ $300,179
Other Assets Total$25,015,382$25,015,382→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$27,854,857$28,222,249▲ $367,392
Other Liabilities$1,122,553$2,222,553▲ $1,100,000
Accounts Payable and Accrued Expenses$164,532$384,298▲ $219,766
Total Liabilities$29,141,942$30,829,100▲ $1,687,158
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-4,113,105$-5,500,084▼ $1,386,979
Total Net Assets Fund Balance$-4,113,105$-5,500,084▼ $1,386,979
Total Liabilities and Net Assets / Fund Balance$25,028,837$25,329,016▲ $300,179

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$25,015,382--
Compensation and Service Providers
Top Officer Pay71st percentile

Board Members and Trustees

NameTitle
Paul KellyPresident, Director
Chris TepperIndependent Director
Susie KimSectretary, Director
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
$-1,386,979

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$1,636,509
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$1,628,084--$1,628,084
Fees for Services Accounting-$8,425-$8,425
Total Functional Expenses$1,628,084$8,425$0$1,636,509

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,636,509
Total Expenses per Audited Statements$1,636,509
Total Expenses per Form 990$1,636,509
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 Affiliates$2,222,553
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 801, BROOKLYN, NY 11205

Signing Officer

Name
Wimal Ariyawansa
Title
Treasurer
Phone
7189075981
Signed
2023-04-17
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 CPA
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 years ended december 31, 2022. 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 2019 remain open.”

Raw XML AppendixShowing 400 of 450 raw XML fields

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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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 YEARS ENDED DECEMBER 31, 2022. 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 2019 REMAIN OPEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHANNA GREENBAUM
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1WIMAL ARIYAWANSA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2PAUL KELLY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3SUSIE KIM
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0VP, DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER, DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2PRESIDENT, DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3SECTRETARY, DIRECTOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3222435
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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0BROOKLYN NAVY YARD DEV CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0112137138
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0141 FLUSHING AVENUE SUITE 801
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BROOKLYN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd011205
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
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IRS990ScheduleR/PaidEmployeesSharingInd01
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0BROOKLYN NAVY YARD DEVELOPMENT CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1BROOKLYN NAVY YARD DEVELOPMENT CORPORATION
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt025028837
IRS990/TotalAssetsEOYAmt025329016
IRS990/TotalAssetsGrp/BOYAmt025028837
IRS990/TotalAssetsGrp/EOYAmt025329016
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01628084
IRS990/TotalFunctionalExpensesGrp/TotalAmt01636509
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt030829100
IRS990/TotalLiabilitiesGrp/BOYAmt029141942
IRS990/TotalLiabilitiesGrp/EOYAmt030829100
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-4113105
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-5500084
IRS990/TotalOtherCompensationAmt0321194
IRS990/TotalProgramServiceExpensesAmt01628084
IRS990/TotalProgramServiceRevenueAmt0249530
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0249530
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0249530

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,329,016
Liabilities
$30,829,100
Net assets
-$5,500,084
Revenue
$249,530
Expenses
$1,636,509
Net income
-$1,386,979
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