Civic Intelligence

Inez Apartments Inc.

990 • Fiscal year 2021 • EIN 20-1835268

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 09, 2021

Organization Profile
110 Resource CourtPrestonsburg, KY 41653

(606) 683-3100

Siviq Scores

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

Liabilities / Assets

26th percentile

0.00x

Higher debt load relative to assets than 26% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

42nd percentile

0.05x

Higher debt load relative to revenue than 42% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

8th percentile

-28%

Higher net margin than 8% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

19th percentile

-2.4%

Faster asset growth than 19% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

58th percentile

20%

Faster revenue growth than 58% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets26th percentile

Assets

Down

$1,617,861

Down $40,510 (-2.4%) from 2020

Net Assets

Down

$1,610,296

Down $38,130 (-2.3%) from 2020

Liabilities

Down

$7,567

Down $2,378 (-24%) from 2020

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin8th percentile

Revenue

Up

$137,779

Up $22,577 (+20%) from 2020

Expenses

Up

$175,911

Up $6,016 (+3.5%) from 2020

Net Income

Up

-$38,132

Up $16,561 (+30%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$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: $1,610,2962021Assets 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

2021

Assets$1,617,861
Liabilities$7,567
Net Assets$1,610,296
Open 2021 Filing

Operations Trend

Revenue Growth58th percentile

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$137,779
Expenses$175,911
Net Income-$38,132
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 9, 2021
Return Version
2020v4.0
Gross Receipts
$137,779
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$1,511,025$1,457,059▼ $53,966
Savings and Temporary Cash Investments$145,560$157,453▲ $11,893
Cash and Non-Interest-Bearing Accounts$709$2,244▲ $1,535
Prepaid Expenses and Deferred Charges$1,077$1,105▲ $28
Total Assets$1,658,371$1,617,861▼ $40,510
Liabilities
Other Liabilities$6,861$6,168▼ $693
Accounts Payable and Accrued Expenses$3,084$1,399▼ $1,685
Total Liabilities$9,945$7,567▼ $2,378
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,257,525$2,257,525→ $0
Net Assets Without Donor Restrictions$-609,099$-647,229▼ $38,130
Total Net Assets Fund Balance$1,648,426$1,610,296▼ $38,130
Total Liabilities and Net Assets / Fund Balance$1,658,371$1,617,863▼ $40,508

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,335,895$719,951$2,055,846
Land$120,013-$120,013
Equipment$1,151$27,995$29,146
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
James ButtlerPresident
Eric RatliffSec/tres
Diane ThackerVP
Revenue and Support

Revenue Composition

Contributions and Grants
$9,552
Program Service Revenue
$126,525
Investment Income
$1,702
Other Revenue
$0
Change in Net Assets
$-38,132
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$140,255
Salaries, Compensation, and Employee Benefits$35,656
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$53,966--$53,966
Other Expenses$32,460--$32,460
Other Salaries and Wages$29,652--$29,652
Fees for Services Management$12,980--$12,980
Fees for Services Accounting$7,300--$7,300
Insurance$6,603--$6,603
Office Expenses$5,588--$5,588
Other Employee Benefits$3,058--$3,058
Payroll Taxes$2,946--$2,946
Advertising$2,016--$2,016
All Other Expenses$1,557--$1,557
Travel$243--$243
Total Functional Expenses$175,911$0$0$175,911
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
Tenant Security Deposits$6,168
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 retunr is emailed to the accountant for the management company and to the board president who reviews it with the board, approves and signs the return”

Part VI Section B Line 12 C

“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
Diane Thacker
Title
VP
Signed
2021-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Thacker
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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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE TAX RETUNR IS EMAILED TO THE ACCOUNTANT FOR THE MANAGEMENT COMPANY AND TO THE BOARD PRESIDENT WHO REVIEWS IT WITH THE BOARD, 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 12 C
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/TotalAssetsBOYAmt01658371
IRS990/TotalAssetsEOYAmt01617861
IRS990/TotalAssetsGrp/BOYAmt01658371
IRS990/TotalAssetsGrp/EOYAmt01617861
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt09552
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0175911
IRS990/TotalFunctionalExpensesGrp/TotalAmt0175911
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09945
IRS990/TotalLiabilitiesEOYAmt07567
IRS990/TotalLiabilitiesGrp/BOYAmt09945
IRS990/TotalLiabilitiesGrp/EOYAmt07567
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01648426
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01610296
IRS990/TotalProgramServiceExpensesAmt0175911
IRS990/TotalProgramServiceRevenueAmt0126525
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0128227
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0137779
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01658371
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01617863
IRS990/TravelGrp/ProgramServicesAmt0243
IRS990/TravelGrp/TotalAmt0243
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DIANE THACKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-09
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/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/PreparationDt02021-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENDA K MORGAN CPA
ReturnHeader/ReturnTs02021-11-30T14:42:36-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JAMES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BUTLER
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,617,861
Liabilities
$7,567
Net assets
$1,610,296
Revenue
$137,779
Expenses
$175,911
Net income
-$38,132
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