Civic Intelligence

Nonprofit Housing Preservation Pi Inc

EIN 83-4323594 • 501(c)3 • Riviera Beach, FL

Profile

To provide for the acquisition, development, ownership and operation of affordable housing for low-income families.

2001 W Blue Heron Blvd 201Riviera Beach, FL 33404

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.08x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

4.61x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

27th percentile

-4.3%

Higher net margin than 27% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

27th percentile

-2.4%

Faster asset growth than 27% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

42nd percentile

3.3%

Faster revenue growth than 42% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$6,814,765

Down $170,131 (-2.4%) from 2023

Liabilities

Down

$7,353,762

Down $101,848 (-1.4%) from 2023

Net Assets

Down

-$538,997

Down $68,283 (-15%) from 2023

Revenue

Up

$1,593,491

Up $50,287 (+3.3%) from 2023

Expenses

Down

$1,661,774

Down $67,547 (-3.9%) from 2023

Net Income

Up

-$68,283

Up $117,834 (+63%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0-$5.0MAssets 2019: $7,599,862Liabilities 2019: $7,870,329Net Assets 2019: -$270,4672019Assets 2020: $7,527,001Liabilities 2020: $7,791,397Net Assets 2020: -$264,3962020Assets 2021: $7,359,946Liabilities 2021: $7,672,496Net Assets 2021: -$312,5502021Assets 2022: $7,291,026Liabilities 2022: $7,575,623Net Assets 2022: -$284,5972022Assets 2023: $6,984,896Liabilities 2023: $7,455,610Net Assets 2023: -$470,7142023Assets 2024: $6,814,765Liabilities 2024: $7,353,762Net Assets 2024: -$538,9972024

Highlighted filing

2024

Assets$6,814,765
Liabilities$7,353,762
Net Assets-$538,997

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $5,369,151Expenses 2019: $28,796Net Income 2019: $5,340,3552019Revenue 2020: $1,267,239Expenses 2020: $1,261,168Net Income 2020: $6,0712020Revenue 2021: $1,440,502Expenses 2021: $1,488,656Net Income 2021: -$48,1542021Revenue 2022: $1,554,848Expenses 2022: $1,526,895Net Income 2022: $27,9532022Revenue 2023: $1,543,204Expenses 2023: $1,729,321Net Income 2023: -$186,1172023Revenue 2024: $1,593,491Expenses 2024: $1,661,774Net Income 2024: -$68,2832024

Highlighted filing

2024

Revenue$1,593,491
Expenses$1,661,774
Net Income-$68,283

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 18, 2025
Return Version
2024v5.2
Gross Receipts
$1,593,491
Mission and Program Overview

Mission

To provide for the acquisition, development, ownership and operation of affordable housing for low-income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,887,229$5,633,570▼ $253,659
Intangible Assets$176,704$166,989▼ $9,715
Prepaid Expenses and Deferred Charges$123,001$159,553▲ $36,552
Cash and Non-Interest-Bearing Accounts$27,656$24,589▼ $3,067
Accounts Receivable$18,743$4,478▼ $14,265
Total Assets$6,984,896$6,814,765▼ $170,131
Other Assets Total$751,563$825,586▲ $74,023
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,254,969$7,115,430▼ $139,539
Accounts Payable and Accrued Expenses$89,904$138,177▲ $48,273
Other Liabilities$101,841$95,794▼ $6,047
Deferred Revenue$8,896$4,361▼ $4,535
Total Liabilities$7,455,610$7,353,762▼ $101,848
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-470,714$-538,997▼ $68,283
Total Net Assets Fund Balance$-470,714$-538,997▼ $68,283
Total Liabilities and Net Assets / Fund Balance$6,984,896$6,814,765▼ $170,131

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,910,830$3,538,612$8,449,442
Equipment$174,528$1,057,441$1,231,969
Land$548,212-$548,212
Other Assets Org$460--
Compensation and Service Providers

Board Members and Trustees

NameTitle
John CorbettPresident/CEO
Frederick C MitchellVice President
Hugh JacobsVice President
Mecky AdnaniVice President
Eric PriceDirector
Richard F BurnsDirector
Stephen M GreenDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,583,374
Investment Income
$10,117
Other Revenue
$0
Change in Net Assets
$-68,283

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,593,491
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,593,491
Total Revenue per Form 990
$1,593,491
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,439,705
Salaries, Compensation, and Employee Benefits$222,069
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance$341,806--$341,806
Depreciation Depletion$300,098--$300,098
Interest$226,880--$226,880
Occupancy$200,378--$200,378
Other Salaries and Wages$152,070--$152,070
Fees for Services Management-$115,862-$115,862
Other Employee Benefits$54,419--$54,419
Office Expenses$15,728--$15,728
Payroll Taxes$11,491--$11,491
Fees for Services Accounting-$6,500-$6,500
Information Technology$6,472--$6,472
Pension Plan Contributions$4,089--$4,089
Other Expenses$3,465$25,193-$3,465
Fees for Services Legal-$3,453-$3,453
Conferences and Meetings-$2,266-$2,266
All Other Expenses$1,925--$1,925
Advertising$721--$721
Total Functional Expenses$1,508,500$153,274$0$1,661,774

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,661,774
Total Expenses per Audited Statements$1,661,774
Total Expenses per Form 990$1,661,774
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
Tenant Security Deposits$95,794
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The project is managed by tpi management services llc, a disregarded entity of the partnership, inc.

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

The form 990 is reviewed by management and then distributed to board members for review. Upon review, the form 990 is submitted.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Nonprofit Housing Preservation Pi Inc
EIN
83-4323594
Phone
5616556775
Address
2001 W BLUE HERON BLVD 201, RIVIERA BEACH, FL 33404

Signing Officer

Name
Hugh Jacobs
Title
Vice President
Phone
5616556775
Signed
2025-11-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Corbett
Formed
2019
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Carter & Company Cpas LLC
Address
PO BOX 279, DESTIN, FL 32540
Preparer
Samuel T Boerma
Phone
8506500125
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The corporation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The corporation has adopted accounting for uncertainty in income taxes (fasb accounting standards codification (asc)740, income taxes). It requires that a tax position be recognized or derecognized based on a 'more-likely-than-not' threshold. This applies to positions taken or expected to be taken in a tax return. The implementation had no impact on the corporation's statement of financial position or statement of activities. The corporation does not believe its financial statements include any uncertain tax positions and that no income taxes are due for its activities. Therefore, no provision for income taxes is included in the financial statements.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ACCOUNTING STANDARDS CODIFICATION (ASC)740, INCOME TAXES). IT REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A 'MORE-LIKELY-THAN-NOT' THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE IMPLEMENTATION HAD NO IMPACT ON THE CORPORATION'S STATEMENT OF FINANCIAL POSITION OR STATEMENT OF ACTIVITIES. THE CORPORATION DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS AND THAT NO INCOME TAXES ARE DUE FOR ITS ACTIVITIES. THEREFORE, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROJECT IS MANAGED BY TPI MANAGEMENT SERVICES LLC, A DISREGARDED ENTITY OF THE PARTNERSHIP, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY MANAGEMENT AND THEN DISTRIBUTED TO BOARD MEMBERS FOR REVIEW. UPON REVIEW, THE FORM 990 IS SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0HUGH JACOBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-18
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