Civic Intelligence

Westover Cove Inc.

990 • Fiscal year 2016 • EIN 20-0086537

Apr 01, 2015 to Mar 31, 2016 • Filed on Feb 14, 2017

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

1.24x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

9.18x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

12th percentile

-26%

Higher net margin than 12% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

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.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

29th percentile

-3.0%

Faster asset growth than 29% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

63rd percentile

8.7%

Faster revenue growth than 63% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,152,252

Down $35,842 (-3.0%) from 2015

Net Assets

Down

-$275,833

Down $41,086 (-18%) from 2015

Liabilities

Up

$1,428,085

Up $5,244 (+0.4%) from 2015

Revenue

Up

$155,584

Up $12,460 (+8.7%) from 2015

Expenses

Up

$196,670

Up $47,436 (+32%) from 2015

Net Income

Down

-$41,086

Down $34,976 (-572%) from 2015

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

2016

Assets$1,152,252
Liabilities$1,428,085
Net Assets-$275,833

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

2016

Revenue$155,584
Expenses$196,670
Net Income-$41,086
Jump To
Filing Snapshot
Filing Period
Apr 1, 2015 to Mar 31, 2016
Signed
Feb 14, 2017
Return Version
2015v3.0
Gross Receipts
$155,584
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$1,068,973$1,034,125▼ $34,848
Cash and Non-Interest-Bearing Accounts$35,038$17,196▼ $17,842
Prepaid Expenses and Deferred Charges$10,198$16,475▲ $6,277
Total Assets$1,188,094$1,152,252▼ $35,842
Other Assets Total$73,885$84,456▲ $10,571
Liabilities
Unsecured Notes Loans Payable$1,418,400$1,418,400→ $0
Accounts Payable and Accrued Expenses$510$5,332▲ $4,822
Other Liabilities$2,839$3,146▲ $307
Mortgage Notes Payable Secured by Investment Property$719$1,170▲ $451
Deferred Revenue$373$37▼ $336
Total Liabilities$1,422,841$1,428,085▲ $5,244
Net Assets / Fund Balance
Unrestricted Net Assets$-234,747$-275,833▼ $41,086
Total Net Assets Fund Balance$-234,747$-275,833▼ $41,086
Total Liabilities and Net Assets / Fund Balance$1,188,094$1,152,252▼ $35,842

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$943,989$359,270$1,303,259
Land$65,800-$65,800
Equipment$24,336-$24,336
Other Assets Org$17,502--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Robert FlickPresident
Andrea HazlittVice President
-Director
Eddie KarbowskiDirector
Walter DeanDirector
Sue DavisSecretary
Erin McReynoldsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$130,237
Program Service Revenue
$25,260
Investment Income
$29
Other Revenue
$58
Change in Net Assets
$-41,086

Audited Revenue Reconciliation

Revenue per Audited Statements
$155,584
Total Revenue per Audited Statements
$155,584
Total Revenue per Form 990
$155,584
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$153,282
Salaries, Compensation, and Employee Benefits$43,388
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$34,848--$34,848
Other Salaries and Wages$34,803--$34,803
Occupancy$32,360--$32,360
Other Expenses$28,236--$28,236
Office Expenses$15,437--$15,437
Fees for Services Management$9,312--$9,312
Fees for Services Accounting$8,651--$8,651
Travel$5,597--$5,597
Other Employee Benefits$5,392--$5,392
Payroll Taxes$3,193--$3,193
Conferences and Meetings$1,004--$1,004
All Other Expenses$801--$801
Information Technology$142--$142
Total Functional Expenses$196,670$0$0$196,670

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$196,670
Total Expenses per Audited Statements$196,670
Total Expenses per Form 990$196,670
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$3,146
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 3

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

Form 990, Part VII, Line 11B

Organizations Process to review Form 990-Office of Board of Direcctors reviews and approved IRS Form 990.

Form 990, Part VII, Line 19

Governing Documents Discloure 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
2017-02-14
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 P C
Address
16011 Univesity Oak, San Antonio, TX 78249
Preparer
Robert Carter
Phone
2106966206
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 6

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

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IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0130237
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0112449
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt095115
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt097227
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0122108
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0557136
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt087
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt029
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt019
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt024
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt052
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0211
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt025260
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt028628
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt029085
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt026073
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0109046
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt087
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt029
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt019
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt024
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt052
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0211
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00030
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.99970
IRS990ScheduleA/PublicSupportPY509Pct00.99970
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt0666182
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0155497
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0141077
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0124200
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0123300
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0122108
IRS990ScheduleA/Total509Grp/TotalAmt0666182
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0155584
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0141106
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0124219
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0123324
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0122160
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0666393
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0943989
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0359270
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01303259
IRS990ScheduleD/EquipmentGrp/BookValueAmt024336
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt024336
IRS990ScheduleD/ExpensesSubtotalAmt0196670
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt065800
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt065800
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04023
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt161531
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21400
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt317502
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Tenant Security Deposits Held in Trust
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Escrow Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Replacement Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Utility Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4Residual Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03146
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/RevenueSubtotalAmt0155584
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01034125
IRS990ScheduleD/TotalBookValueOtherAssetsAmt084456
IRS990ScheduleD/TotalExpensesPerForm990Amt0196670
IRS990ScheduleD/TotalLiabilityAmt03146
IRS990ScheduleD/TotalRevenuePerForm990Amt0155584
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0155584
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0196670
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 company has been retained to manage the day to day operations of low income rental property of the organiation subject to review by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Organizations Process to review Form 990-Office of Board of Direcctors reviews and approved IRS Form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing Documents Discloure Explanation - No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VII, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VII, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01188094
IRS990/TotalAssetsEOYAmt01152252
IRS990/TotalAssetsGrp/BOYAmt01188094
IRS990/TotalAssetsGrp/EOYAmt01152252
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0130237
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0196670
IRS990/TotalFunctionalExpensesGrp/TotalAmt0196670
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01422841
IRS990/TotalLiabilitiesEOYAmt01428085
IRS990/TotalLiabilitiesGrp/BOYAmt01422841
IRS990/TotalLiabilitiesGrp/EOYAmt01428085
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-234747
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-275833
IRS990/TotalProgramServiceExpensesAmt0196670
IRS990/TotalProgramServiceRevenueAmt025260
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt025347
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0155584
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01188094
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01152252
IRS990/TravelGrp/ProgramServicesAmt05597
IRS990/TravelGrp/TotalAmt05597
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-234747
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-275833
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01418400
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01418400
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04790 Oakmont Ct
IRS990/USAddress/CityNm0League City

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