Civic Intelligence

Westover Cove Inc.

990 • Fiscal year 2015 • EIN 20-0086537

Apr 01, 2014 to Mar 31, 2015 • Filed on Feb 16, 2016

5001 W Loop 289Lubbock, TX 79414

(806) 797-3162

Siviq Scores

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

Liabilities / Assets

94th percentile

1.20x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

97th percentile

9.94x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

29th percentile

-4.3%

Higher net margin than 29% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

41st percentile

-1.2%

Faster asset growth than 41% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

62nd percentile

8.8%

Faster revenue growth than 62% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,188,094

Down $14,274 (-1.2%) from 2014

Net Assets

Down

-$234,747

Down $6,110 (-2.7%) from 2014

Liabilities

Down

$1,422,841

Down $8,164 (-0.6%) from 2014

Revenue

Up

$143,124

Up $11,585 (+8.8%) from 2014

Expenses

Down

$149,234

Down $15,009 (-9.1%) from 2014

Net Income

Up

-$6,110

Up $26,594 (+81%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.0M$0-$1.0MAssets 2010: $1,355,237Liabilities 2010: $1,427,769Net Assets 2010: -$72,5322010Assets 2011: $1,314,021Liabilities 2011: $1,424,080Net Assets 2011: -$110,0592011Assets 2012: $1,283,840Liabilities 2012: $1,422,594Net Assets 2012: -$138,7542012Assets 2013: $1,240,860Liabilities 2013: $1,429,701Net Assets 2013: -$188,8412013Assets 2014: $1,202,368Liabilities 2014: $1,431,005Net Assets 2014: -$228,6372014Assets 2015: $1,188,094Liabilities 2015: $1,422,841Net Assets 2015: -$234,7472015Assets 2016: $1,152,252Liabilities 2016: $1,428,085Net Assets 2016: -$275,8332016Assets 2017: $1,121,859Liabilities 2017: $1,431,627Net Assets 2017: -$309,7682017Assets 2018: $1,104,144Liabilities 2018: $1,427,451Net Assets 2018: -$323,3072018Assets 2019: $1,088,596Liabilities 2019: $1,427,355Net Assets 2019: -$338,7592019Assets 2020: $1,022,024Liabilities 2020: $1,440,534Net Assets 2020: -$418,5102020Assets 2021: $1,030,238Liabilities 2021: $1,461,704Net Assets 2021: -$431,4662021Assets 2022: $971,424Liabilities 2022: $1,447,311Net Assets 2022: -$475,8872022Assets 2023: $924,713Liabilities 2023: $1,451,084Net Assets 2023: -$526,3712023Assets 2025: $843,557Liabilities 2025: $1,471,105Net Assets 2025: -$627,5482025

Highlighted filing

2015

Assets$1,188,094
Liabilities$1,422,841
Net Assets-$234,747

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2010: $143,2042010Expenses 2011: $161,3962011Expenses 2012: $150,8552012Expenses 2013: $186,3632013Revenue 2014: $131,539Expenses 2014: $164,243Net Income 2014: -$32,7042014Revenue 2015: $143,124Expenses 2015: $149,234Net Income 2015: -$6,1102015Revenue 2016: $155,584Expenses 2016: $196,670Net Income 2016: -$41,0862016Revenue 2017: $149,551Expenses 2017: $183,486Net Income 2017: -$33,9352017Revenue 2018: $169,236Expenses 2018: $182,775Net Income 2018: -$13,5392018Revenue 2019: $177,078Expenses 2019: $192,530Net Income 2019: -$15,4522019Revenue 2020: $183,463Expenses 2020: $263,214Net Income 2020: -$79,7512020Revenue 2021: $188,262Expenses 2021: $201,218Net Income 2021: -$12,9562021Revenue 2022: $194,467Expenses 2022: $238,838Net Income 2022: -$44,3712022Revenue 2023: $187,841Expenses 2023: $238,325Net Income 2023: -$50,4842023Revenue 2025: $212,733Expenses 2025: $247,303Net Income 2025: -$34,5702025

Highlighted filing

2015

Revenue$143,124
Expenses$149,234
Net Income-$6,110
Jump To
Filing Snapshot
Filing Period
Apr 1, 2014 to Mar 31, 2015
Signed
Feb 16, 2016
Return Version
2014v6.0
Gross Receipts
$143,124
Mission and Program Overview

Mission

To provide low income housing to those individuals who are physically or mentally disabled who need public housing assistance, as required by U.S. Department of Housing and Urban Development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,095,821$1,068,973▼ $26,848
Cash and Non-Interest-Bearing Accounts$24,342$35,038▲ $10,696
Prepaid Expenses and Deferred Charges$9,813$10,198▲ $385
Accounts Receivable$18--
Total Assets$1,202,368$1,188,094▼ $14,274
Other Assets Total$72,374$73,885▲ $1,511
Liabilities
Unsecured Notes Loans Payable$1,418,400$1,418,400→ $0
Other Liabilities$2,955$2,839▼ $116
Mortgage Notes Payable Secured by Investment Property$1,272$719▼ $553
Accounts Payable and Accrued Expenses$7,228$510▼ $6,718
Deferred Revenue$1,150$373▼ $777
Total Liabilities$1,431,005$1,422,841▼ $8,164
Net Assets / Fund Balance
Unrestricted Net Assets$-228,637$-234,747▼ $6,110
Total Net Assets Fund Balance$-228,637$-234,747▼ $6,110
Total Liabilities and Net Assets / Fund Balance$1,202,368$1,188,094▼ $14,274

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$998,321$304,938$1,303,259
Land$65,800-$65,800
Equipment$4,852$19,484$24,336
Other Assets Org$1,400--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Robert FlickPresident
Jeannette TaylorVice President
-Director
Brenna FergusonDirector
Eddi KarbowskiDirector
Sue DavisDirector
Walter DeanDirector
Erin McReynoldsSecretary
Andrea HazlittTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$112,449
Program Service Revenue
$28,628
Investment Income
$29
Other Revenue
$2,018
All Other Contributions
$530
Change in Net Assets
$-6,110

Audited Revenue Reconciliation

Revenue per Audited Statements
$143,124
Total Revenue per Audited Statements
$143,124
Total Revenue per Form 990
$143,124
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$113,477
Salaries, Compensation, and Employee Benefits$35,757
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$35,148--$35,148
Occupancy$29,893--$29,893
Other Salaries and Wages$29,767--$29,767
Fees for Services Management-$9,396-$9,396
Office Expenses$7,351--$7,351
Fees for Services Accounting$6,000--$6,000
Other Expenses$4,412--$4,412
Other Employee Benefits$3,314--$3,314
Payroll Taxes$2,676--$2,676
Conferences and Meetings$1,274--$1,274
Travel$767--$767
All Other Expenses$610--$610
Information Technology$128--$128
Total Functional Expenses$139,838$9,396$0$149,234

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$149,234
Total Expenses per Audited Statements$149,234
Total Expenses per Form 990$149,234
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
Federal income taxes$2,839
Resident Deposit Held in Trust-
Prepaid Revenue-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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, Line Line 3

Management Delegated- A property management companny has been retained to manage the day to day operations of low income rental property of the organization subject to review by the board of directors.

Form 990, Part VII, Line Line 11B

Organizations Prrocess to Review Form 990-Officce of Board of Directos reviews and appoved IRS Fom 990.

Form 990, Part VII, Line Line 19

Governing Documents Disclosure Explanation- No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Westover Cove Inc
EIN
20-0086537
Phone
8067973162
Address
5001 W Loop 289, Lubbock, TX 79414

Signing Officer

Name
Phil Thompson
Title
Board President
Signed
2016-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phil Thompson
Formed
2005
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Leal & Carter PC
Address
16011 University Oak, San Antonio, TX 78249
Preparer
Robert Carter
Phone
2106966206
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line Line 6

All Volunteers of the organization serve as part-time officers and board members.

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IRS990/PYTotalRevenueAmt0131539
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-6110
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0112449
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt095115
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt097227
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0122108
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0123794
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0550693
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt029
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt019
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt024
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt052
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt076
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0200
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt028628
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt029085
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt026073
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt083786
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt029
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt019
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt024
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt052
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt076
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0200
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00050
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.99970
IRS990ScheduleA/PublicSupportPY509Pct00.99950
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt0634479
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0141077
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0124200
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0123300
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0122108
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0123794
IRS990ScheduleA/Total509Grp/TotalAmt0634479
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0141106
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0124219
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0123324
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0122160
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0123870
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0634679
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0998321
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0304938
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01303259
IRS990ScheduleD/EquipmentGrp/BookValueAmt04852
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019484
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt024336
IRS990ScheduleD/ExpensesSubtotalAmt0149234
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt065800
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt065800
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02872
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt169613
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21400
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Tenant Security Deposits Held in Trust
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Escrow Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Replacement Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Utility Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02839
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Resident Deposit Held in Trust
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Prepaid Revenue
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0143124
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01068973
IRS990ScheduleD/TotalBookValueOtherAssetsAmt073885
IRS990ScheduleD/TotalExpensesPerForm990Amt0149234
IRS990ScheduleD/TotalLiabilityAmt02839
IRS990ScheduleD/TotalRevenuePerForm990Amt0143124
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0143124
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0149234
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0All Volunteers of the organization serve as part-time officers and board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Management Delegated- A property management companny has been retained to manage the day to day operations of low income rental property of the organization subject to review by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Organizations Prrocess to Review Form 990-Officce of Board of Directos reviews and appoved IRS Fom 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing Documents Disclosure Explanation- No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VII, Line Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VII, Line Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01202368
IRS990/TotalAssetsEOYAmt01188094
IRS990/TotalAssetsGrp/BOYAmt01202368
IRS990/TotalAssetsGrp/EOYAmt01188094
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0112449
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt09396
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0139838
IRS990/TotalFunctionalExpensesGrp/TotalAmt0149234
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01431005
IRS990/TotalLiabilitiesEOYAmt01422841
IRS990/TotalLiabilitiesGrp/BOYAmt01431005
IRS990/TotalLiabilitiesGrp/EOYAmt01422841
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-228637
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-234747
IRS990/TotalProgramServiceExpensesAmt0139838
IRS990/TotalProgramServiceRevenueAmt028628
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0143124
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01202368
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01188094
IRS990/TravelGrp/ProgramServicesAmt0767
IRS990/TravelGrp/TotalAmt0767
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$1.47$0.63$0.21$0.25$0.03
2023Summary only. Only limited summary data is available for this year.$0.92$1.45$0.53$0.19$0.24$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.97$1.45$0.48$0.19$0.24$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$1.46$0.43$0.19$0.20$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.02$1.44$0.42$0.18$0.26$0.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$1.43$0.34$0.18$0.19$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$1.43$0.32$0.17$0.18$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.12$1.43$0.31$0.15$0.18$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.15$1.43$0.28$0.16$0.20$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.19$1.42$0.23$0.14$0.15$0.01
2014Summary only. Only limited summary data is available for this year.$1.20$1.43$0.23$0.13$0.16$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.24$1.43$0.19$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$1.42$0.14$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$1.42$0.11$0.16
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$1.43$0.07$0.14