Civic Intelligence

Bay Pointe Apartments Inc.

990 • Fiscal year 2023 • EIN 20-4264152

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 29, 2023

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

30th percentile

0.01x

Higher debt load relative to assets than 30% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

51st percentile

0.09x

Higher debt load relative to revenue than 51% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

6th percentile

-64%

Higher net margin than 6% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

19th percentile

-5.5%

Faster asset growth than 19% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

48th percentile

5.4%

Faster revenue growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets30th percentile

Assets

Down

$1,408,390

Down $82,385 (-5.5%) from 2022

Net Assets

Down

$1,396,327

Down $84,790 (-5.7%) from 2022

Liabilities

Up

$12,063

Up $2,405 (+25%) from 2022

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin6th percentile

Revenue

Up

$132,692

Up $6,818 (+5.4%) from 2022

Expenses

Up

$217,482

Up $20,325 (+10%) from 2022

Net Income

Down

-$84,790

Down $13,507 (-19%) from 2022

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: $2,309,261Liabilities 2011: $7,932Net Assets 2011: $2,301,3292011Assets 2012: $2,249,740Liabilities 2012: $12,992Net Assets 2012: $2,236,7482012Assets 2013: $2,134,663Liabilities 2013: $10,912Net Assets 2013: $2,123,7512013Assets 2014: $2,064,365Liabilities 2014: $11,900Net Assets 2014: $2,052,4652014Assets 2015: $1,996,584Liabilities 2015: $13,941Net Assets 2015: $1,982,6432015Assets 2016: $1,923,207Liabilities 2016: $14,952Net Assets 2016: $1,908,2552016Assets 2017: $1,859,095Liabilities 2017: $17,577Net Assets 2017: $1,841,5182017Assets 2018: $1,790,302Liabilities 2018: $13,738Net Assets 2018: $1,776,5642018Assets 2019: $1,733,835Liabilities 2019: $20,083Net Assets 2019: $1,713,7522019Assets 2020: $1,637,810Liabilities 2020: $14,810Net Assets 2020: $1,623,0002020Assets 2021: $1,561,864Liabilities 2021: $9,464Net Assets 2021: $1,552,4002021Assets 2022: $1,490,775Liabilities 2022: $9,658Net Assets 2022: $1,481,1172022Assets 2023: $1,408,390Liabilities 2023: $12,063Net Assets 2023: $1,396,3272023Assets 2024: $1,372,464Liabilities 2024: $16,552Net Assets 2024: $1,355,9122024

Highlighted filing

2023

Assets$1,408,390
Liabilities$12,063
Net Assets$1,396,327
Open 2023 Filing

Operations Trend

Revenue Growth48th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $71,276Expenses 2011: $149,871Net Income 2011: -$78,5952011Revenue 2012: $104,728Expenses 2012: $169,309Net Income 2012: -$64,5812012Expenses 2013: $194,7242013Revenue 2014: $89,295Expenses 2014: $160,581Net Income 2014: -$71,2862014Revenue 2015: $104,535Expenses 2015: $174,357Net Income 2015: -$69,8222015Revenue 2016: $109,608Expenses 2016: $183,996Net Income 2016: -$74,3882016Revenue 2017: $111,859Expenses 2017: $178,596Net Income 2017: -$66,7372017Revenue 2018: $115,293Expenses 2018: $180,247Net Income 2018: -$64,9542018Revenue 2019: $116,774Expenses 2019: $179,586Net Income 2019: -$62,8122019Revenue 2020: $105,691Expenses 2020: $196,443Net Income 2020: -$90,7522020Revenue 2021: $132,516Expenses 2021: $203,116Net Income 2021: -$70,6002021Revenue 2022: $125,874Expenses 2022: $197,157Net Income 2022: -$71,2832022Revenue 2023: $132,692Expenses 2023: $217,482Net Income 2023: -$84,7902023Revenue 2024: $148,021Expenses 2024: $188,436Net Income 2024: -$40,4152024

Highlighted filing

2023

Revenue$132,692
Expenses$217,482
Net Income-$84,790
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 29, 2023
Return Version
2022v5.0
Gross Receipts
$132,692
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$1,424,644$1,346,631▼ $78,013
Savings and Temporary Cash Investments$62,172$56,362▼ $5,810
Cash and Non-Interest-Bearing Accounts$2,595$3,989▲ $1,394
Prepaid Expenses and Deferred Charges$1,364$1,408▲ $44
Total Assets$1,490,775$1,408,390▼ $82,385
Liabilities
Other Liabilities$6,442$7,018▲ $576
Accounts Payable and Accrued Expenses$3,216$5,045▲ $1,829
Total Liabilities$9,658$12,063▲ $2,405
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,580,738$2,580,738→ $0
Net Assets Without Donor Restrictions$-1,099,621$-1,184,411▼ $84,790
Total Net Assets Fund Balance$1,481,117$1,396,327▼ $84,790
Total Liabilities and Net Assets / Fund Balance$1,490,775$1,408,390▼ $82,385

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$757,613$1,135,668$1,893,281
Land$150,000-$150,000
Equipment-$67,422$67,422
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$132,120
Investment Income
$572
Other Revenue
$0
Change in Net Assets
$-84,790
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$180,474
Salaries, Compensation, and Employee Benefits$37,008
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$78,013--$78,013
Other Salaries and Wages$33,890--$33,890
Fees for Services Management$13,780--$13,780
Other Expenses$10,683--$10,683
Insurance$8,402--$8,402
Office Expenses$5,791--$5,791
Fees for Services Accounting$4,800--$4,800
Payroll Taxes$3,118--$3,118
Advertising$2,957--$2,957
All Other Expenses$1,454--$1,454
Travel$829--$829
Total Functional Expenses$217,482$0$0$217,482
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 Deposit$7,018
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 board president who reviews it with the board and 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 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
Bay Pointe Apartments Inc
EIN
20-4264152
Address
110 RESOURCE COURT, Prestonsburg, KY 41653

Signing Officer

Name
Eric Ratliff
Title
Sec/treas
Phone
6066833100
Signed
2023-11-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Thacker
Formed
2006
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
Supplemental Narrative

Additional Explanations

Part IX Line 24E

“All other expenses all other expenses consist of bank charges 65 workers comp 708 and licenses and fees 682”

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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/ExplanationTxt1THE BOARD AND MANAGEMENT COMPANY MONITOR BY REVIEWING TRANSACTIONS AND HUD APPROVAL IS OBTAINED BEFORE ANY DISBURSEMENTS ARE MADE TO RELATED PARTIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST AND ALL MEETINGS ARE OPEN TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL OTHER EXPENSES ALL OTHER EXPENSES CONSIST OF BANK CHARGES 65 WORKERS COMP 708 AND LICENSES AND FEES 682
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI SECTION B LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI SECTION B LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI SECTION C LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART IX LINE 24E
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0132692
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BAY POINTE APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0BAYP
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MORGAN AND ASSOCIATES LLC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST LIBERTY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
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ReturnHeader/PreparerPersonGrp/PhoneNum06067431884
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRENDA K MORGAN CPA
ReturnHeader/ReturnTs02024-01-31T17:03:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ERIC
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RATLIFF
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,408,390
Liabilities
$12,063
Net assets
$1,396,327
Revenue
$132,692
Expenses
$217,482
Net income
-$84,790
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.37$0.02$1.36$0.15$0.19$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.41$0.01$1.40$0.13$0.22$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.49$0.01$1.48$0.13$0.20$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.56$0.01$1.55$0.13$0.20$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.64$0.01$1.62$0.11$0.20$0.09
2019Detailed filing. Detailed filing data is available for this year.$1.73$0.02$1.71$0.12$0.18$0.06
2018Detailed filing. Detailed filing data is available for this year.$1.79$0.01$1.78$0.12$0.18$0.06
2017Detailed filing. Detailed filing data is available for this year.$1.86$0.02$1.84$0.11$0.18$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.92$0.01$1.91$0.11$0.18$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.00$0.01$1.98$0.10$0.17$0.07
2014Detailed filing. Detailed filing data is available for this year.$2.06$0.01$2.05$0.09$0.16$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$0.01$2.12$0.19
2012Summary only. Only limited summary data is available for this year.$2.25$0.01$2.24$0.10$0.17$0.06
2011Summary only. Only limited summary data is available for this year.$2.31$0.01$2.30$0.07$0.15$0.08