Civic Intelligence

Inez Apartments Inc

EIN 20-1835268 • 501(c)3 • Prestonsburg, KY

Profile

To provide low income housing to senior citizens

110 Resource CourtPrestonsburg, KY 41653
Siviq Scores

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

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

52nd percentile

0.09x

Higher debt load relative to revenue than 52% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

10th percentile

-32%

Higher net margin than 10% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

28th percentile

-2.9%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

4.4%

Faster revenue growth than 45% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$1,461,082

Down $44,390 (-2.9%) from 2023

Liabilities

Up

$12,748

Up $1,914 (+18%) from 2023

Net Assets

Down

$1,448,334

Down $46,304 (-3.1%) from 2023

Operations
Liabilities / Revenue52nd percentileNet Margin10th percentile

Revenue

Up

$142,672

Up $6,014 (+4.4%) from 2023

Expenses

Down

$188,975

Down $13,862 (-6.8%) from 2023

Net Income

Up

-$46,303

Up $19,876 (+30%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth28th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $2,085,743Liabilities 2011: $7,227Net Assets 2011: $2,078,5162011Assets 2012: $2,049,794Liabilities 2012: $14,431Net Assets 2012: $2,035,3632012Assets 2013: $1,994,946Liabilities 2013: $10,239Net Assets 2013: $1,984,7072013Assets 2014: $1,948,803Liabilities 2014: $14,048Net Assets 2014: $1,934,7552014Assets 2015: $1,902,406Liabilities 2015: $14,423Net Assets 2015: $1,887,9812015Assets 2016: $1,844,821Liabilities 2016: $16,866Net Assets 2016: $1,827,9552016Assets 2017: $1,797,722Liabilities 2017: $18,122Net Assets 2017: $1,779,6002017Assets 2018: $1,758,247Liabilities 2018: $15,087Net Assets 2018: $1,743,1602018Assets 2019: $1,720,510Liabilities 2019: $17,391Net Assets 2019: $1,703,1192019Assets 2020: $1,658,371Liabilities 2020: $9,945Net Assets 2020: $1,648,4262020Assets 2021: $1,617,861Liabilities 2021: $7,567Net Assets 2021: $1,610,2942021Assets 2022: $1,569,135Liabilities 2022: $8,318Net Assets 2022: $1,560,8172022Assets 2023: $1,505,472Liabilities 2023: $10,834Net Assets 2023: $1,494,6382023Assets 2024: $1,461,082Liabilities 2024: $12,748Net Assets 2024: $1,448,3342024

Highlighted filing

2024

Assets$1,461,082
Liabilities$12,748
Net Assets$1,448,334
Open 2024 Filing

Operations Trend

Revenue Growth45th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $89,621Expenses 2011: $127,144Net Income 2011: -$37,5232011Revenue 2012: $104,303Expenses 2012: $140,981Net Income 2012: -$36,6782012Revenue 2013: $98,219Expenses 2013: $148,875Net Income 2013: -$50,6562013Revenue 2014: $95,745Expenses 2014: $145,698Net Income 2014: -$49,9532014Revenue 2015: $108,697Expenses 2015: $155,469Net Income 2015: -$46,7722015Revenue 2016: $117,224Expenses 2016: $177,250Net Income 2016: -$60,0262016Revenue 2017: $109,990Expenses 2017: $158,345Net Income 2017: -$48,3552017Revenue 2018: $117,500Expenses 2018: $153,940Net Income 2018: -$36,4402018Revenue 2019: $120,256Expenses 2019: $160,297Net Income 2019: -$40,0412019Revenue 2020: $115,202Expenses 2020: $169,895Net Income 2020: -$54,6932020Revenue 2021: $137,779Expenses 2021: $175,911Net Income 2021: -$38,1322021Revenue 2022: $127,373Expenses 2022: $176,852Net Income 2022: -$49,4792022Revenue 2023: $136,658Expenses 2023: $202,837Net Income 2023: -$66,1792023Revenue 2024: $142,672Expenses 2024: $188,975Net Income 2024: -$46,3032024

Highlighted filing

2024

Revenue$142,672
Expenses$188,975
Net Income-$46,303
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,461,082
Liabilities
$12,748
Net assets
$1,448,334
Revenue
$142,672
Expenses
$188,975
Net income
-$46,303
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.46$0.01$1.45$0.14$0.19$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.51$0.01$1.49$0.14$0.20$0.07
2022Detailed filing. Detailed filing data is available for this year.$1.57$0.01$1.56$0.13$0.18$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.62$0.01$1.61$0.14$0.18$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.66$0.01$1.65$0.12$0.17$0.05
2019Detailed filing. Detailed filing data is available for this year.$1.72$0.02$1.70$0.12$0.16$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.76$0.02$1.74$0.12$0.15$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.80$0.02$1.78$0.11$0.16$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.84$0.02$1.83$0.12$0.18$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.90$0.01$1.89$0.11$0.16$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.95$0.01$1.93$0.10$0.15$0.05
2013Summary only. Only limited summary data is available for this year.$1.99$0.01$1.98$0.10$0.15$0.05
2012Summary only. Only limited summary data is available for this year.$2.05$0.01$2.04$0.10$0.14$0.04
2011Summary only. Only limited summary data is available for this year.$2.09$0.01$2.08$0.09$0.13$0.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 11, 2024
Return Version
2023v5.0
Gross Receipts
$142,672
Mission and Program Overview

Mission

To provide low income housing to senior citizens

Provided housing for low income elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,350,280$1,297,467▼ $52,813
Savings and Temporary Cash Investments$148,942$159,567▲ $10,625
Cash and Non-Interest-Bearing Accounts$5,104$2,770▼ $2,334
Prepaid Expenses and Deferred Charges$1,146$1,278▲ $132
Total Assets$1,505,472$1,461,082▼ $44,390
Liabilities
Other Liabilities$6,319$7,215▲ $896
Accounts Payable and Accrued Expenses$4,515$5,533▲ $1,018
Total Liabilities$10,834$12,748▲ $1,914
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,257,525$2,257,525→ $0
Net Assets Without Donor Restrictions$-762,887$-809,191▼ $46,304
Total Net Assets Fund Balance$1,494,638$1,448,334▼ $46,304
Total Liabilities and Net Assets / Fund Balance$1,505,472$1,461,082▼ $44,390

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,177,454$878,392$2,055,846
Land$120,013-$120,013
Equipment-$29,146$29,146
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
James ButlerPresident
Eric RatliffSec/treas
Diane ThackerVP
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$136,815
Investment Income
$5,857
Other Revenue
$0
Change in Net Assets
$-46,303
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$156,280
Salaries, Compensation, and Employee Benefits$32,695
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$52,813--$52,813
Other Salaries and Wages$28,922--$28,922
All Other Expenses$20,214--$20,214
Fees for Services Management$15,132--$15,132
Office Expenses$7,568--$7,568
Insurance$7,534--$7,534
Other Expenses$7,100--$7,100
Fees for Services Accounting$4,800--$4,800
Payroll Taxes$3,095--$3,095
Advertising$1,892--$1,892
Other Employee Benefits$678--$678
Travel$308--$308
Total Functional Expenses$188,975$0$0$188,975
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenants Security Deposits$7,215
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Part VI Section B Line 11B

“A copy of the tax return is emailed to the accountant for the management company and to the board president who reviews it with the boar, approves and signs the return.”

Part VI Section B Line 12C

“The board and management company monitor by reviewing transactions and hud approval is obtained before any disbursements are made to known related parties”

Part VI Section C Line 19

“All governing documents are made available upon written request and all meetings are open to the public”

Filing and Contact Details

Filer

Filer Name
Inez Apartments Inc
EIN
20-1835268
Address
110 RESOURCE COURT, Prestonsburg, KY 41653

Signing Officer

Name
Eric Ratliff
Title
Sec/treas
Signed
2024-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Ratliff
Formed
2004
Legal Domicile
Ky
Voting Board Members
5
Independent Board Members
5
Employees
4

Preparer

Firm
Morgan and Associates LLC
Address
749 BROADWAY STREET, WEST LIBERTY, KY 41472
Preparer
Brenda K Morgan CPA
Phone
6067431884
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0142672
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0136658
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0127373
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0137779
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0115202
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0659684
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01177454
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0878392
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02055846
IRS990ScheduleD/EquipmentGrp/DepreciationAmt029146
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt029146
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0120013
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0120013
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07215
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANTS SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01297467
IRS990ScheduleD/TotalLiabilityAmt07215
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE TAX RETURN IS EMAILED TO THE ACCOUNTANT FOR THE MANAGEMENT COMPANY AND TO THE BOARD PRESIDENT WHO REVIEWS IT WITH THE BOAR, APPROVES AND SIGNS THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD AND MANAGEMENT COMPANY MONITOR BY REVIEWING TRANSACTIONS AND HUD APPROVAL IS OBTAINED BEFORE ANY DISBURSEMENTS ARE MADE TO KNOWN RELATED PARTIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST AND ALL MEETINGS ARE OPEN TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI SECTION B LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI SECTION B LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI SECTION C LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01505472
IRS990/TotalAssetsEOYAmt01461082
IRS990/TotalAssetsGrp/BOYAmt01505472
IRS990/TotalAssetsGrp/EOYAmt01461082
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0188975
IRS990/TotalFunctionalExpensesGrp/TotalAmt0188975
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010834
IRS990/TotalLiabilitiesEOYAmt012748
IRS990/TotalLiabilitiesGrp/BOYAmt010834
IRS990/TotalLiabilitiesGrp/EOYAmt012748
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01494638
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01448334
IRS990/TotalOtherProgSrvcRevenueAmt0142672
IRS990/TotalProgramServiceExpensesAmt0188975
IRS990/TotalProgramServiceRevenueAmt0136815
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0142672
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0142672
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01505472
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01461082
IRS990/TravelGrp/ProgramServicesAmt0308
IRS990/TravelGrp/TotalAmt0308
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0110 Resource Court
IRS990/USAddress/CityNm0PRESTONSBURG
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd041653
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ERIC RATLIFF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SEC/TREAS
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INEZ APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0INEZ
ReturnHeader/Filer/EIN0201835268
ReturnHeader/Filer/USAddress/AddressLine1Txt0110 RESOURCE COURT
ReturnHeader/Filer/USAddress/CityNm0Prestonsburg
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd041653
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0320034770
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MORGAN AND ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0749 BROADWAY STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST LIBERTY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd041472
ReturnHeader/PreparerPersonGrp/PhoneNum06067431884
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENDA K MORGAN CPA
ReturnHeader/ReturnTs02024-11-12T11:52:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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