Civic Intelligence

Liberty Golden Age Housing Development

990 • Fiscal year 2020 • EIN 84-4885618

Nov 30, 2020 to Dec 31, 2020 • Filed on Nov 18, 2021

Organization ProfileN/A
117 West Liberty Street No 6Rome, NY 13440

(315) 337-1401

Siviq Scores

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

Liabilities / Assets

94th percentile

1.13x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

100th percentile

65.39x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

2nd percentile

-280%

Higher net margin than 2% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

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

Source year 2020

Revenue Growth

Score unavailable

No value available

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

Source year 2020

Balance Sheet
Liabilities / Assets94th percentile

Assets

$4,211,840

No earlier filing loaded for comparison.

Net Assets

-$527,937

No earlier filing loaded for comparison.

Liabilities

$4,739,777

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin2nd percentile

Revenue

$72,482

No earlier filing loaded for comparison.

Expenses

$275,515

No earlier filing loaded for comparison.

Net Income

-$203,033

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.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2020: $4,211,840Liabilities 2020: $4,739,777Net Assets 2020: -$527,9372020Assets 2021: $3,128,381Liabilities 2021: $4,623,233Net Assets 2021: -$1,494,8522021Assets 2022: $2,994,745Liabilities 2022: $4,594,967Net Assets 2022: -$1,600,2222022

Highlighted filing

2020

Assets$4,211,840
Liabilities$4,739,777
Net Assets-$527,937
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KRevenue 2020: $72,482Expenses 2020: $275,515Net Income 2020: -$203,0332020Revenue 2021: $903,078Expenses 2021: $932,387Net Income 2021: -$29,3092021Revenue 2022: $908,577Expenses 2022: $1,013,947Net Income 2022: -$105,3702022

Highlighted filing

2020

Revenue$72,482
Expenses$275,515
Net Income-$203,033
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Nov 30, 2020 to Dec 31, 2020
Signed
Nov 18, 2021
Return Version
2020v4.1
Gross Receipts
$72,482
Mission and Program Overview

Mission

Liberty golden age housing development fund company, inc. Is a not for profit corporation formed to operate a 100 unit multifamily housing project for low and moderate income senior residents located at 33 mechanic street in the city of norwich, new york.

Rental of low income apartments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$1,479,797▲ $1,479,797
Cash and Non-Interest-Bearing Accounts-$183,257-
Prepaid Expenses and Deferred Charges-$27,632-
Intangible Assets-$1,628-
Accounts Receivable-$1,123-
Total Assets$0$4,211,840▲ $4,211,840
Other Assets Total$0$2,518,403▲ $2,518,403
Liabilities
Mortgage Notes Payable Secured by Investment Property-$4,654,473-
Accounts Payable and Accrued Expenses-$48,630-
Other Liabilities$0$36,634▲ $36,634
Deferred Revenue-$40-
Total Liabilities$0$4,739,777▲ $4,739,777
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-527,937-
Total Net Assets Fund Balance$0$-527,937▼ $527,937
Total Liabilities and Net Assets / Fund Balance$0$4,211,840▲ $4,211,840

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,335,131$717,567$2,052,698
Equipment$14,103$1,205,500$1,219,603
Other Land Buildings$43,172$138,424$181,596
Land$87,391-$87,391
Other Assets Org$83,257--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Donald DavidsonPresident
David CarelloSr Vice President
Patricia CaprioVice President
Christina SanfilippoDirector
Cindy LafountainDirector
Frederick GriffinDirector
Mary RhoadesDirector
Matthew NimeyDirector
Rev Msgr Walter MadejDirector
Richard SanbornDirector
Robert RyanDirector
Timothy BirnieDirector
David CollisSecretary
John F BuffaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$72,380
Investment Income
$102
Other Revenue
$0
Change in Net Assets
$-203,033
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$270,928
Salaries, Compensation, and Employee Benefits$4,587
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$223,928--$223,928
Fees for Services Management$9,707--$9,707
Insurance$6,142--$6,142
Other Employee Benefits$4,587--$4,587
Other Expenses$3,677--$3,677
All Other Expenses$3,648--$3,648
Office Expenses$964--$964
Interest$343--$343
Total Functional Expenses$275,515$0$0$275,515
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 (contra)$36,634
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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

“Form 990 is distributed to the board of directors.”

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

“The board of directors consistently monitor and enforce compliance with the conflict of interest policy as outlined in the bylaws.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interst policy, and financial reports may be requested from the board of directors.”

Filing and Contact Details

Filer

Filer Name
Liberty Golden Age Housing Development
EIN
84-4885618
Phone
3153371401
Address
117 WEST LIBERTY STREET NO 6, ROME, NY 13440

Signing Officer

Name
Donald Davidson
Title
Director
Phone
3153349333
Signed
2021-11-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Davidson
Formed
2020
Legal Domicile
Ny
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
Teal Becker & Chiaramonte Cpas Pc
Address
7 WASHINGTON SQUARE, ALBANY, NY 12205
Preparer
Katharine K Doran CPA
Phone
5184566663
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Assumed equity balance of partnership at purchase date -324,904.”

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CORPORATION START DATE: MARCH 12, 2020 BUILDING ACQUISITION DATE: NOVEMBER 30, 2020
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, SHORT YEAL EXPLANATION:
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt072380
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0102
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0102
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt072380
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt072380
IRS990ScheduleA/Total509Grp/TotalAmt072380
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt072482
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt072482
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01335131
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0717567
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02052698
IRS990ScheduleD/EquipmentGrp/BookValueAmt014103
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01205500
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01219603
IRS990ScheduleD/LandGrp/BookValueAmt087391
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt087391
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt036634
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt148539
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2274717
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3174507
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt41900749
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt583257
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSTIS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DEBT SERVICE RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4REPAIR AND HOLD BACK RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5MISCELLANEOUS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt043172
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0138424
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0181596
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt036634
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS (CONTRA)
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01479797
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02518403
IRS990ScheduleD/TotalLiabilityAmt036634
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AS OUTLINED IN THE BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, CONFLICT OF INTERST POLICY, AND FINANCIAL REPORTS MAY BE REQUESTED FROM THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ASSUMED EQUITY BALANCE OF PARTNERSHIP AT PURCHASE DATE -324,904.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt04211840
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt04211840
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0275515
IRS990/TotalFunctionalExpensesGrp/TotalAmt0275515
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt04739777
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt04739777
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-527937
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0275515
IRS990/TotalProgramServiceRevenueAmt072380
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0102
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt072380
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt072482
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04211840
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0117 WEST LIBERTY STREET SUITE 3
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IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd013440
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1

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Filings

Displayed year

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

Open filing
Assets
$4,211,840
Liabilities
$4,739,777
Net assets
-$527,937
Revenue
$72,482
Expenses
$275,515
Net income
-$203,033
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$2.99$4.59$1.60$0.91$1.01$0.11
2021Detailed filing. Detailed filing data is available for this year.$3.13$4.62$1.49$0.90$0.93$0.03
2020Detailed filing. Detailed filing data is available for this year.$4.21$4.74$0.53$0.07$0.28$0.20