Civic Intelligence

Westend Terzetto'S

990 • Fiscal year 2014 • EIN 20-1948663

Jan 01, 2014 to Dec 31, 2014 • Filed on May 12, 2015

Organization ProfileN/A
1405 1st Ave NGrand Forks, ND 58203

(701) 746-2545

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.28x

Higher debt load relative to assets than 62% of similar nonprofits.

2014 filings • NTEE L • <$500k nonprofits • Source year 2014

Liabilities / Revenue

63rd percentile

0.44x

Higher debt load relative to revenue than 63% of similar nonprofits.

2014 filings • NTEE L • <$500k nonprofits • Source year 2014

Net Margin

86th percentile

42%

Higher net margin than 86% of similar nonprofits.

2014 filings • NTEE L • <$500k nonprofits • Source year 2014

Top Officer Pay

93rd percentile

$166,301

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 110.7% of source-year revenue.

2014 filings • NTEE L • <$500k nonprofits • Source year 2014

Asset Growth

88th percentile

25%

Faster asset growth than 88% of similar nonprofits.

2014 filings • NTEE L • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

5th percentile

-74%

Faster revenue growth than 5% of similar nonprofits.

2014 filings • NTEE L • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$235,737

Up $46,485 (+25%) from 2013

Net Assets

Up

$169,212

Up $63,516 (+60%) from 2013

Liabilities

Down

$66,525

Down $17,031 (-20%) from 2013

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin86th percentile

Revenue

Down

$150,280

Down $430,574 (-74%) from 2013

Expenses

Up

$86,764

Up $39,204 (+82%) from 2013

Net Income

Down

$63,516

Down $469,778 (-88%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$1.0M$500K$0-$500KAssets 2010: -$319,319Liabilities 2010: $6,679Net Assets 2010: -$325,9982010Assets 2011: -$365,594Liabilities 2011: $1,787Net Assets 2011: -$367,3812011Assets 2012: -$421,485Liabilities 2012: $6,113Net Assets 2012: -$427,5982012Assets 2013: $189,252Liabilities 2013: $83,556Net Assets 2013: $105,6962013Assets 2014: $235,737Liabilities 2014: $66,525Net Assets 2014: $169,2122014Assets 2015: $229,294Liabilities 2015: $55,096Net Assets 2015: $174,1982015Assets 2016: $244,655Liabilities 2016: $49,709Net Assets 2016: $194,9462016Assets 2017: $238,070Liabilities 2017: $47,096Net Assets 2017: $190,9742017Assets 2018: $270,636Liabilities 2018: $48,498Net Assets 2018: $222,1382018Assets 2019: $287,769Liabilities 2019: $44,196Net Assets 2019: $243,5732019Assets 2020: $288,915Liabilities 2020: $43,725Net Assets 2020: $245,1902020Assets 2021: $278,901Liabilities 2021: $43,499Net Assets 2021: $235,4022021Assets 2022: $251,069Liabilities 2022: $52,221Net Assets 2022: $198,8482022Assets 2023: $522,382Liabilities 2023: $518,005Net Assets 2023: $4,3772023

Highlighted filing

2014

Assets$235,737
Liabilities$66,525
Net Assets$169,212
Open 2014 Filing

Operations Trend

Revenue Growth5th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $91,4012010Expenses 2011: $18,3832011Expenses 2012: $12,9012012Revenue 2013: $580,854Expenses 2013: $47,560Net Income 2013: $533,2942013Revenue 2014: $150,280Expenses 2014: $86,764Net Income 2014: $63,5162014Revenue 2015: $117,600Expenses 2015: $107,655Net Income 2015: $9,9452015Revenue 2016: $115,364Expenses 2016: $94,616Net Income 2016: $20,7482016Revenue 2017: $107,224Expenses 2017: $111,196Net Income 2017: -$3,9722017Revenue 2018: $113,025Expenses 2018: $81,861Net Income 2018: $31,1642018Revenue 2019: $102,334Expenses 2019: $80,899Net Income 2019: $21,4352019Revenue 2020: $103,679Expenses 2020: $102,062Net Income 2020: $1,6172020Revenue 2021: $102,732Expenses 2021: $112,520Net Income 2021: -$9,7882021Revenue 2022: $86,065Expenses 2022: $122,619Net Income 2022: -$36,5542022Revenue 2023: $108,976Expenses 2023: $141,079Net Income 2023: -$32,1032023

Highlighted filing

2014

Revenue$150,280
Expenses$86,764
Net Income$63,516
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 12, 2015
Return Version
2014v5.0
Gross Receipts
$150,280
Mission and Program Overview

Mission

Own, operate and manage low income housing for the elderly and disabled

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$388,872$466,319▲ $77,447
Savings and Temporary Cash Investments$192,090$107,208▼ $84,882
Prepaid Expenses and Deferred Charges$9,360$10,086▲ $726
Accounts Receivable$3,296$5,750▲ $2,454
Cash and Non-Interest-Bearing Accounts$-404,366$-353,626▲ $50,740
Total Assets$189,252$235,737▲ $46,485
Liabilities
Mortgage Notes Payable Secured by Investment Property$42,719$42,350▼ $369
Accounts Payable and Accrued Expenses$35,773$19,183▼ $16,590
Other Liabilities$3,340$3,220▼ $120
Deferred Revenue$1,724$1,772▲ $48
Total Liabilities$83,556$66,525▼ $17,031
Net Assets / Fund Balance
Unrestricted Net Assets$105,696$169,212▲ $63,516
Total Net Assets Fund Balance$105,696$169,212▲ $63,516
Total Liabilities and Net Assets / Fund Balance$189,252$235,737▲ $46,485

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$419,319-$419,319
Buildings$37,000-$37,000
Land$10,000-$10,000
Compensation and Service Providers
Top Officer Pay93rd percentile

Board Members and Trustees

NameTitle
Curt KreunPresident
Joan JohnsonVice President
Duane HafnerDirector
Fayme Stringer-henryDirector
Garth RydlandDirector
Terry HansonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$42,667
Program Service Revenue
$48,959
Investment Income
$40
Other Revenue
$58,614
Change in Net Assets
$63,516
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$86,764
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$37,842--$37,842
Fees for Services Management$8,195--$8,195
Other Expenses$4,569$6,988-$4,569
Fees for Services Accounting$3,150--$3,150
Interest$1,258--$1,258
Office Expenses-$529-$529
Advertising$344--$344
All Other Expenses-$314-$314
Travel$57--$57
Total Functional Expenses$78,933$7,831$0$86,764
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
Tenant Security Deposits$3,220
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, line 3

“Westend terzetto's entered into an agreement with the housing authority of the city of grand forks, north dakota, to act as its agent in the operation of the project's properties and to make all collections for it. The management agreement provides for a monthly management fee of 5% of gross collections received during the month.”

Form 990, Part VI, Section A, line 8B

“There are no committees with the authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, line 11

“The 990 is reviewed at a board meeting.”

Form 990, Part VI, Section B, line 12C

“Board members are cognizant of the interest rules and upon discovery of potential conflicts, it is discussed among the board members and staff.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
WESTEND TERZETTO'S
EIN
20-1948663
Phone
7017462545
Address
1405 1ST AVE N, GRAND FORKS, ND 58203

Signing Officer

Name
Curt Kreun
Title
President
Phone
7017462545
Signed
2015-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Curt Kreun
Formed
2005
Legal Domicile
Nd
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Drees Riskey & Vallager Ltd
Address
1405 LIBRARY CIRCLE, GRAND FORKS, ND 58201
Preparer
Mark D Holm
Phone
7017464466
Raw XML AppendixShowing 400 of 444 raw XML fields

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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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt037000
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt037000
IRS990ScheduleD/LandGrp/BookValueAmt010000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt010000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0419319
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0419319
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03220
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0466319
IRS990ScheduleD/TotalLiabilityAmt03220
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0136506
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt014785
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt015010
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TERRY HANSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0166301
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WESTEND TERZETTO'S ENTERED INTO AN AGREEMENT WITH THE HOUSING AUTHORITY OF THE CITY OF GRAND FORKS, NORTH DAKOTA, TO ACT AS ITS AGENT IN THE OPERATION OF THE PROJECT'S PROPERTIES AND TO MAKE ALL COLLECTIONS FOR IT. THE MANAGEMENT AGREEMENT PROVIDES FOR A MONTHLY MANAGEMENT FEE OF 5% OF GROSS COLLECTIONS RECEIVED DURING THE MONTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS REVIEWED AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS ARE COGNIZANT OF THE INTEREST RULES AND UPON DISCOVERY OF POTENTIAL CONFLICTS, IT IS DISCUSSED AMONG THE BOARD MEMBERS AND STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0HOMESTEAD PLACE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1GRAND FORKS HOUSING AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0450455374
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1456035977
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1GOVERNMENT UNIT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROVIDE LOW INCOME HOUSING TO ELIGIBLE PERSONS IN GRAND FORKS, ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1PROVIDE MGMT SERVICES FOR AGENCIES WHO PROVIDE HOUSING TO LOW INCOME TENANT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01405 1ST AVE N
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt11405 1ST AVE N
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0GRAND FORKS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1GRAND FORKS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd058203
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd158203
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0189252
IRS990/TotalAssetsEOYAmt0235737
IRS990/TotalAssetsGrp/BOYAmt0189252
IRS990/TotalAssetsGrp/EOYAmt0235737
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt042667
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07831
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt078933
IRS990/TotalFunctionalExpensesGrp/TotalAmt086764
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt083556
IRS990/TotalLiabilitiesEOYAmt066525
IRS990/TotalLiabilitiesGrp/BOYAmt083556
IRS990/TotalLiabilitiesGrp/EOYAmt066525
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0105696
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0169212
IRS990/TotalOtherCompensationAmt029795
IRS990/TotalProgramServiceExpensesAmt078933
IRS990/TotalProgramServiceRevenueAmt048959
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt040
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0107573
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0150280
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0189252
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0235737
IRS990/TotReportableCompRltdOrgAmt0136506

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$235,737
Liabilities
$66,525
Net assets
$169,212
Revenue
$150,280
Expenses
$86,764
Net income
$63,516
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$5.22$5.18$0.04$1.09$1.41$0.32
2022Detailed filing. Detailed filing data is available for this year.$2.51$0.52$1.99$0.86$1.23$0.37
2021Detailed filing. Detailed filing data is available for this year.$2.79$0.43$2.35$1.03$1.13$0.10
2020Detailed filing. Detailed filing data is available for this year.$2.89$0.44$2.45$1.04$1.02$0.02
2019Detailed filing. Detailed filing data is available for this year.$2.88$0.44$2.44$1.02$0.81$0.21
2018Detailed filing. Detailed filing data is available for this year.$2.71$0.48$2.22$1.13$0.82$0.31
2017Detailed filing. Detailed filing data is available for this year.$2.38$0.47$1.91$1.07$1.11$0.04
2016Detailed filing. Detailed filing data is available for this year.$2.45$0.50$1.95$1.15$0.95$0.21
2015Detailed filing. Detailed filing data is available for this year.$2.29$0.55$1.74$1.18$1.08$0.10
2014Detailed filing. Detailed filing data is available for this year.$2.36$0.67$1.69$1.50$0.87$0.64
2013Detailed filing. Detailed filing data is available for this year.$1.89$0.84$1.06$5.81$0.48$5.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.21$0.06$4.28$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.66$0.02$3.67$0.18
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.19$0.07$3.26$0.91