Civic Intelligence

Westend Terzetto'S

990 • Fiscal year 2019 • EIN 20-1948663

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 17, 2020

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

59th percentile

0.15x

Higher debt load relative to assets than 59% of similar nonprofits.

2019 filings • NTEE L • <$500k nonprofits • Source year 2019

Liabilities / Revenue

64th percentile

0.43x

Higher debt load relative to revenue than 64% of similar nonprofits.

2019 filings • NTEE L • <$500k nonprofits • Source year 2019

Net Margin

75th percentile

21%

Higher net margin than 75% of similar nonprofits.

2019 filings • NTEE L • <$500k nonprofits • Source year 2019

Top Officer Pay

93rd percentile

$166,215

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 162.4% of source-year revenue.

2019 filings • NTEE L • <$500k nonprofits • Source year 2019

Asset Growth

75th percentile

6.3%

Faster asset growth than 75% of similar nonprofits.

2019 filings • NTEE L • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

30th percentile

-9.5%

Faster revenue growth than 30% of similar nonprofits.

2019 filings • NTEE L • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Up

$287,769

Up $17,133 (+6.3%) from 2018

Net Assets

Up

$243,573

Up $21,435 (+9.6%) from 2018

Liabilities

Down

$44,196

Down $4,302 (-8.9%) from 2018

Revenue

Down

$102,334

Down $10,691 (-9.5%) from 2018

Expenses

Down

$80,899

Down $962 (-1.2%) from 2018

Net Income

Down

$21,435

Down $9,729 (-31%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$287,769
Liabilities$44,196
Net Assets$243,573

Operations Trend

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

2019

Revenue$102,334
Expenses$80,899
Net Income$21,435
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 17, 2020
Return Version
2019v5.1
Gross Receipts
$102,334
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$523,000$523,000→ $0
Savings and Temporary Cash Investments$74,231$92,696▲ $18,465
Prepaid Expenses and Deferred Charges$7,286$10,169▲ $2,883
Accounts Receivable$5,254$6,686▲ $1,432
Cash and Non-Interest-Bearing Accounts$-339,135$-344,782▼ $5,647
Total Assets$270,636$287,769▲ $17,133
Liabilities
Mortgage Notes Payable Secured by Investment Property$40,755$40,325▼ $430
Other Liabilities$3,320$3,570▲ $250
Accounts Payable and Accrued Expenses$4,364$201▼ $4,163
Deferred Revenue$59$100▲ $41
Total Liabilities$48,498$44,196▼ $4,302
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$222,138$243,573▲ $21,435
Total Net Assets Fund Balance$222,138$243,573▲ $21,435
Total Liabilities and Net Assets / Fund Balance$270,636$287,769▲ $17,133

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$476,000-$476,000
Buildings$37,000-$37,000
Land$10,000-$10,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Curt KreunPresident
Joan JohnsonVice President
Bret WeberDirector
Fayme Stringer-henryDirector
Terry HansonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$52,385
Program Service Revenue
$49,445
Investment Income
$431
Other Revenue
$73
Change in Net Assets
$21,435
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$80,899
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$36,999--$36,999
Fees for Services Management$9,932--$9,932
Fees for Services Accounting$700--$700
Office Expenses-$689-$689
Interest$663--$663
Other Expenses$11,176$537-$537
All Other Expenses$240--$240
Advertising$60--$60
Total Functional Expenses$71,415$9,484$0$80,899
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$3,570
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

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 11B

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
2020-08-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Curt Kreun
Formed
2005
Legal Domicile
Nd
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Brady Martz and Associates Pc
Address
PO BOX 14296, GRAND FORKS, ND 58208-4296
Preparer
Brian Opsahl
Phone
7017754685
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt037000
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt037000
IRS990ScheduleD/LandGrp/BookValueAmt010000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt010000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0476000
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0476000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03570
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0523000
IRS990ScheduleD/TotalLiabilityAmt03570
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/CompensationBasedOnRltdOrgsAmt0153987
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt012228
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TERRY HANSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0166215
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 11B
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/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0270636
IRS990/TotalAssetsEOYAmt0287769
IRS990/TotalAssetsGrp/BOYAmt0270636
IRS990/TotalAssetsGrp/EOYAmt0287769
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt052385
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt09484
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt071415
IRS990/TotalFunctionalExpensesGrp/TotalAmt080899
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt048498
IRS990/TotalLiabilitiesEOYAmt044196
IRS990/TotalLiabilitiesGrp/BOYAmt048498
IRS990/TotalLiabilitiesGrp/EOYAmt044196
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0222138
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0243573
IRS990/TotalOtherCompensationAmt012228

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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