Co-Op Initiatives Inc in Glastonbury, Connecticut (CT)

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Co-Op Initiatives Inc
Employer Identification Number (EIN)222988992
Name of OrganizationCo-Op Initiatives Inc
In Care of NameSarah P Page
AddressPO BOX 1352, Glastonbury, CT 06033-6352
ActivitiesInstruction and guidance on housing
SubsectionCharitable Organization
Ruling Date05/1994
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2003
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$2,117,919
Amount of Income$1,107,892
Form 990 Revenue Amount$1,107,892
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Public Housing Facilities


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Amount of income in 2003: $1,107,892
This organization: 

 $1,107,892
Other organizations performing similar types of work: 

 $830,011

Assets in 2003: $2,117,919
Co-Op Initiatives Inc: 

 $2,117,919
Other organizations performing similar types of work: 

 $2,556,923

Expenses in 2004: $483,925
Co-Op Initiatives Inc: 

 $483,925
Other organizations performing similar types of work: 

 $814,088

Income to expenses ratio in 2004: 0.9
This organization: 

 0.9
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2004: 69.6%
Co-Op Initiatives Inc: 

 69.6%
Other organizations performing similar types of work: 

 91.0%

Grants share in income in 2004: 72.8%
Co-Op Initiatives Inc: 

 72.8%
Other organizations performing similar types of work: 

 0.2%

Financial snapshot ($)

Revenue for 2004

Assets at end of 2004

Expenses for 2004

Functional Expenses for 2004 ($)

Income-Producing Activities for 2004

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004
Total revenue$1,270,838$849,470$1,334,984$1,107,892$430,836
Contributions, gifts, grants, and similar amounts received$1,166,363$691,307$1,182,999$833,664$313,633
Contributions to donor advised funds
Direct public support$608,900$327,148$435,864$358,536$76,533
Indirect public support$0$0$0$0$0
Government contributions (grants)$557,463$364,159$747,135$475,128$237,100
Program service revenue including government fees and contracts$87,696$141,344$131,166$249,115$90,762
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$16,779$16,819$16,790$25,113$16,662
Dividends and interest from securities$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$4,029$0$9,779
Gross revenue$0$0$11,789$0$14,855
Less: direct expenses other than fundraising expenses$0$0$7,760$0$5,076
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$0$0$0$0$0
Total expenses$560,158$864,720$1,225,100$833,255$483,925
Program services$450,072$735,876$1,056,475$741,865$337,007
Management and general$36,176$41,232$70,343$57,554$88,135
Fundraising$73,910$87,612$98,282$33,836$58,783
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$1,458,098$1,442,848$1,552,732$1,827,369$1,281,435
Excess or (deficit) for the year$710,680$-15,250$109,884$274,637$-53,089
Net assets or fund balances at beginning of year$809,971$1,458,098$1,442,848$1,552,732$1,827,369
Other changes in net assets or fund balances$-62,553$0$0$0$-492,845
Statement of Functional Expenses (for 2004)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$483,925$337,007$88,135$58,783
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$101,230
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$63,864$39,347$14,708$9,809
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$168,821$104,010$38,880$25,931
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$39,007$24,032$8,983$5,992
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$21,507$13,250$4,953$3,304
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$38,328$23,614$8,827$5,887
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$2,219$1,367$511$341
Conferences, conventions, and meetings$1,052$648$242$162
Interest$2,246$1,384$517$345
Depreciation, depletion, etc.$5,671$3,494$1,306$871
Other expenses not covered above$39,980$24,631$9,208$6,141
Balance Sheets
20002001200220032004
Total assets$1,954,624$2,147,465$2,065,245$2,117,919$1,822,960
Cash - non-interest-bearing$106,406$255,454$74,093$17,664$284,451
Savings and temporary cash investments$61,406$923$21,208$20,631$71
Accounts receivable less allowance for doubtful accounts$6,000$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0
Grants receivable$11,044$28,370$83,110$32,857$5,403
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$298,942$543,904$621,179$789,026$699,481
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$2,279$499$9,491$11,097$5,513
Investments - publicly-traded securities
Investments - other securities$566$671$185$284$1
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$1,418,768$1,317,644$1,255,979$1,246,360$828,040
Other assets, including program-related investments$49,213$0$0$0$0
Total liabilities$496,526$704,617$512,513$290,550$541,525
Accounts payable and accrued expenses$180,944$8,229$182,217$121,550$391,525
Grants payable$0$0$0$0$0
Deferred revenue$0$11,789$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$315,582$476,796$330,296$169,000$150,000
Other liabilities$0$207,803$0$0$0
Total liabilities and net assets/fund balances$1,954,624$2,147,465$2,065,245$2,117,919$1,822,960
Total net assets or fund balances$1,458,098$1,442,848$1,552,732$1,827,369$1,281,435
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004
Total revenue$1,270,838$849,470$1,334,984$1,107,892$430,836
Total revenue, gains, and other support per audited financial statements$1,289,582$881,772$1,353,051$1,129,106$445,666
Other expenses$18,744$32,302$18,067$21,214$14,830
Net unrealized gains on investments$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$18,744$32,302$18,067$21,214$14,830
Other revenue$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004
Total expenses$560,158$864,720$1,225,100$833,255$483,925
Total expenses and losses per audited financial statements$578,902$897,022$1,243,167$854,469$498,755
Other revenue$18,744$32,302$18,067$21,214$14,830
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$18,744$32,302$18,067$21,214$14,830
Other expenses$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 200610
Analysis of Income-Producing Activities (for 2004)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$26,441$90,762
Program service revenue
Program service revenue 1000000$000$0$90,762
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$16,662$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$9,779$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2004)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2004)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2004)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003
Total$738,817$1,288,618$885,308$1,267,542$931,047
Gifts, grants, and contributions received$714,820$1,271,839$868,518$1,250,752$905,934
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$23,997$16,779$16,790$16,790$25,113
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2004)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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1New Samaritan Corporation Inc, Mansfield Center For Nursing100 Warren Cir, Storrs, CT 06268-2074CT1971-03$11,839,346
2New Haven Jewish Community Council Housing Corporation18 Tower Lane, New Haven, CT 06519-1764CT1971-02$5,144,646
3New Haven Jewish Federation Housing Corporation18 Tower Lane, New Haven, CT 06519-1764CT1978-08$3,350,863
4Coltsville Heritage Park Inc2228 Black Rock Turnpike, Fairfield, CT 06825-3237CT1999-05$2,425,176
5St Marks Towers IncOne Towers Plaza, Brunswick, GA 31520-4461GA1979-12$1,569,853
6Co-Op Initiatives IncPO BOX 1352, Glastonbury, CT 06033-6352CT1994-05$1,107,892
7Glenbrook Road Elderly Housing CorpPO BOX 1376, Stamford, CT 06904-1376CT1979-10$604,335
8Pomfret Community Housing Corporation, Pomfret Town Office Building400 Deerfield Road, Pomfret, CT 06529CT1991-09$585,659
9Hart Residences Inc72 Washington Ave, North Haven, CT 06473-1703CT1980-05$201,625
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11Tg 110 Inc8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2002-11$3,238,697
12Progressive Baptist Church Housing Foundation Inc, T E Brown Apartments3601 South Wells, Chicago, IL 60609-1867IL1979-08$1,957,825
13St George Tower Ltd2160 E Maple Rd, Troy, MI 48083-4400MI1979-02$1,701,039
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16Rio Concho Manor Inc401 Rio Concho Drive, San Angelo, TX 76903-5505TX1988-10$1,251,522
17Two Hundred Seventy-Two To Two Hundred Eighty Linwood Avenue Inc276 Linwood Ave, Buffalo, NY 14209-1838NY1976-02$1,111,823
18South Atlantic Housing Of Brevard IncPO BOX 450049, Atlanta, GA 31145-0049GA1984-11$1,071,764
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Number of organizations performing similar types of work
Alaska2
Alabama6
Arkansas3
Arizona12
California98
Colorado15
Connecticut8
District of Columbia5
Delaware2
Florida33
Georgia20
Hawaii13
Iowa10
Idaho3
Illinois33
Indiana7
Kansas4
Kentucky4
Louisiana12
Massachusetts22
Maryland8
Maine7
Michigan22
Minnesota19
Missouri16
Mississippi5
Montana3
North Carolina12
North Dakota2
Nebraska3
New Hampshire1
New Jersey23
New Mexico6
Nevada1
New York76
Ohio46
Oklahoma2
Oregon9
Pennsylvania46
Rhode Island4
South Carolina4
South Dakota4
Tennessee10
Texas36
Utah1
Virginia26
Vermont5
Washington11
Wisconsin12
West Virginia1
Wyoming1
International3
Total737

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