Civic Intelligence

Eastwood of Ames Inc

EIN 20-4700881 • 501(c)3 • Spencer, IA

Profile

Eastwood of ames, inc.'s objective is to provide decent, safe & affordable housing for low-income & very low-income individuals.

328 Grand AveSpencer, IA 51301

n/A

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.66x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

4.14x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

13th percentile

-17%

Higher net margin than 13% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$248,717

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 7.4% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

21st percentile

-3.6%

Faster asset growth than 21% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

10th percentile

-28%

Faster revenue growth than 10% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$20,941,687

Down $786,860 (-3.6%) from 2023

Liabilities

Down

$13,912,437

Down $230,210 (-1.6%) from 2023

Net Assets

Down

$7,029,250

Down $556,650 (-7.3%) from 2023

Revenue

Down

$3,360,378

Down $1,281,481 (-28%) from 2023

Expenses

Up

$3,917,028

Up $20,424 (+0.5%) from 2023

Net Income

Down

-$556,650

Down $1,301,905 (-175%) from 2023

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2010: $0Liabilities 2010: $0Net Assets 2010: $02010Assets 2011: $0Net Assets 2011: $02011Assets 2012: -$610,836Liabilities 2012: $0Net Assets 2012: -$610,8362012Assets 2013: $2,410,900Liabilities 2013: $2,663,274Net Assets 2013: -$252,3742013Assets 2014: $6,473,346Liabilities 2014: $11,296,029Net Assets 2014: -$4,822,6832014Assets 2015: $6,723,975Liabilities 2015: $8,502,922Net Assets 2015: -$1,778,9472015Assets 2016: $6,908,771Liabilities 2016: $8,905,879Net Assets 2016: -$1,997,1082016Assets 2017: $6,689,096Liabilities 2017: $5,640,724Net Assets 2017: $1,048,3722017Assets 2018: $8,759,378Liabilities 2018: $7,129,325Net Assets 2018: $1,630,0532018Assets 2019: $13,081,151Liabilities 2019: $8,258,845Net Assets 2019: $4,822,3062019Assets 2020: $15,855,506Liabilities 2020: $10,877,087Net Assets 2020: $4,978,4192020Assets 2021: $21,177,734Liabilities 2021: $15,246,352Net Assets 2021: $5,931,3822021Assets 2022: $20,015,849Liabilities 2022: $13,721,185Net Assets 2022: $6,294,6642022Assets 2023: $21,728,547Liabilities 2023: $14,142,647Net Assets 2023: $7,585,9002023Assets 2024: $20,941,687Liabilities 2024: $13,912,437Net Assets 2024: $7,029,2502024

Highlighted filing

2024

Assets$20,941,687
Liabilities$13,912,437
Net Assets$7,029,250

Operations Trend

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

$5.0M$0-$5.0MExpenses 2010: $186,6432010Expenses 2012: $747,9072012Expenses 2013: $476,9712013Revenue 2014: -$3,925,566Expenses 2014: $644,743Net Income 2014: -$4,570,3092014Revenue 2015: $4,106,926Expenses 2015: $1,063,190Net Income 2015: $3,043,7362015Revenue 2016: $1,117,536Expenses 2016: $1,265,174Net Income 2016: -$147,6382016Revenue 2017: $4,553,152Expenses 2017: $1,385,299Net Income 2017: $3,167,8532017Revenue 2018: $1,223,564Expenses 2018: $1,686,004Net Income 2018: -$462,4402018Revenue 2019: $1,750,646Expenses 2019: $1,203,216Net Income 2019: $547,4302019Revenue 2020: $2,319,823Expenses 2020: $2,595,094Net Income 2020: -$275,2712020Revenue 2021: $3,310,260Expenses 2021: $3,661,699Net Income 2021: -$351,4392021Revenue 2022: $4,114,072Expenses 2022: $3,383,296Net Income 2022: $730,7762022Revenue 2023: $4,641,859Expenses 2023: $3,896,604Net Income 2023: $745,2552023Revenue 2024: $3,360,378Expenses 2024: $3,917,028Net Income 2024: -$556,6502024

Highlighted filing

2024

Revenue$3,360,378
Expenses$3,917,028
Net Income-$556,650

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$20.9$13.9$7.03$3.36$3.92$0.56
2023Detailed filing. Detailed filing data is available for this year.$21.7$14.1$7.59$4.64$3.90$0.75
2022Detailed filing. Detailed filing data is available for this year.$20.0$13.7$6.29$4.11$3.38$0.73
2021Detailed filing. Detailed filing data is available for this year.$21.2$15.2$5.93$3.31$3.66$0.35
2020Detailed filing. Detailed filing data is available for this year.$15.9$10.9$4.98$2.32$2.60$0.28
2019Detailed filing. Detailed filing data is available for this year.$13.1$8.26$4.82$1.75$1.20$0.55
2018Detailed filing. Detailed filing data is available for this year.$8.76$7.13$1.63$1.22$1.69$0.46
2017Detailed filing. Detailed filing data is available for this year.$6.69$5.64$1.05$4.55$1.39$3.17
2016Detailed filing. Detailed filing data is available for this year.$6.91$8.91$2.00$1.12$1.27$0.15
2015Detailed filing. Detailed filing data is available for this year.$6.72$8.50$1.78$4.11$1.06$3.04
2014Detailed filing. Detailed filing data is available for this year.$6.47$11.3$4.82$3.93$0.64$4.57
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.41$2.66$0.25$0.48
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.61$0.00$0.61$0.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.19
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$3,360,378
Mission and Program Overview

Mission

Eastwood of Ames, Inc.'s objective is to provide decent, safe and affordable housing for low-income and very-low income individuals.

Provide decent, safe & affordable housing for low-income & very low-income individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$18,822,969$18,121,291▼ $701,678
Savings and Temporary Cash Investments$2,790,374$2,708,373▼ $82,001
Prepaid Expenses and Deferred Charges$55,252$49,191▼ $6,061
Accounts Receivable$9,539$12,497▲ $2,958
Cash and Non-Interest-Bearing Accounts$127$50▼ $77
Total Assets$21,728,547$20,941,687▼ $786,860
Other Assets Total$50,286$50,285▼ $1
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,610,211$9,056,406▼ $553,805
Accounts Payable and Accrued Expenses$4,318,961$4,616,485▲ $297,524
Other Liabilities$199,180$209,097▲ $9,917
Deferred Revenue$14,295$30,449▲ $16,154
Total Liabilities$14,142,647$13,912,437▼ $230,210
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,585,900$7,029,250▼ $556,650
Total Net Assets Fund Balance$7,585,900$7,029,250▼ $556,650
Total Liabilities and Net Assets / Fund Balance$21,728,547$20,941,687▼ $786,860

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,303,755$5,077,656$21,381,411
Land$1,725,451-$1,725,451
Leasehold Improvements$92,085$52,553$144,638
Equipment$0$5,270$5,270
Compensation and Service Providers

Board Members and Trustees

NameTitle
David BridgewaterBoard Chair
Tim ShanahanBoard Vice Chair
John ZulkBoard Treasurer
Abbie GaffeyDirector
Bradie ChwirkaDirector
Denise FullerDirector
Omar PadillaDirector
Say BaccamDirector
Mark VreemanChief Financial Officer
Samantha EricksonChief Operating Officer
Emily ZimmonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,308,748
Investment Income
$51,630
Other Revenue
$0
Change in Net Assets
$-556,650

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,360,378
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,360,378
Total Revenue per Form 990
$3,360,378
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,917,028
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$2,321,848--$2,321,848
Depreciation Depletion$870,263--$870,263
Fees for Services Management$357,040--$357,040
Interest$203,597--$203,597
Office Expenses$52,898--$52,898
Information Technology$31,960--$31,960
All Other Expenses$27,349--$27,349
Fees for Services Accounting$17,000--$17,000
Fees for Services Other$16,779--$16,779
Travel$16,438--$16,438
Advertising$1,519--$1,519
Fees for Services Legal$337--$337
Total Functional Expenses$3,917,028$0$0$3,917,028

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,917,028
Total Expenses per Audited Statements$3,917,028
Total Expenses per Form 990$3,917,028
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$209,097
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 6

Eastwood of ames, inc. Has one class of members. Any person elected as a member of the board of directors of community housing initiatives, inc., shall by virtue of that election, and without other qualification, also be a member of eastwood of ames, inc.

Form 990, Part VI, Section A, Line 7A

The organization's members elect all directors of the governing body.

Form 990, Part VI, Section B, Line 11B

The draft form 990 is forwarded to the finance committee for review and discussion/comment. The form 990 is then brought before the board of directors for approval prior to filing with the internal revenue service.

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

Compliance with the conflict of interest policy is through regular review of vendor lists and cash disbursement internal controls. Board members and officers are required to annually disclose any conflicts. If a conflict arises, the conflict is brought to the attention of the president and then the board of directors if material, the board shall determine whether a conflict exists and is material, and in the presence of an existing material conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to the organization, the decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of the organization and the advancement of its purpose.

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
Eastwood of Ames Inc
EIN
20-4700881
Phone
7122625640
Address
328 GRAND AVE, SPENCER, IA 51301

Signing Officer

Name
Mark Vreeman
Title
Chief Financial Officer
Phone
7122625640
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Samantha Erickson
Formed
2006
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Rsm US Llp
Address
400 LOCUST ST STE 640, DES MOINES, IA 50309-2354
Preparer
Kathy Fairchild
Phone
5155586600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organizations are required to assess whether it is more likely than not that a tax position will be sustained upon examination on the technical merits of the position assuming the taxing authority has full knowledge of all information, if the tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the consolidated financial statements. The organizations have determined there are no amounts to record as assets or liabilities related to uncertain tax positions.

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IRS990/MissionDesc0EASTWOOD OF AMES, INC.'S OBJECTIVE IS TO PROVIDE DECENT, SAFE & AFFORDABLE HOUSING FOR LOW-INCOME & VERY LOW-INCOME INDIVIDUALS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATIONS ARE REQUIRED TO ASSESS WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION ON THE TECHNICAL MERITS OF THE POSITION ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION, IF THE TAX POSITION DOES NOT MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD, THE BENEFIT OF THAT POSITION IS NOT RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATIONS HAVE DETERMINED THERE ARE NO AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SAMANTHA ERICKSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1MARK VREEMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF OPERATING OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CHIEF FINANCIAL OFFICER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EASTWOOD OF AMES, INC. HAS ONE CLASS OF MEMBERS. ANY PERSON ELECTED AS A MEMBER OF THE BOARD OF DIRECTORS OF COMMUNITY HOUSING INITIATIVES, INC., SHALL BY VIRTUE OF THAT ELECTION, AND WITHOUT OTHER QUALIFICATION, ALSO BE A MEMBER OF EASTWOOD OF AMES, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S MEMBERS ELECT ALL DIRECTORS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DRAFT FORM 990 IS FORWARDED TO THE FINANCE COMMITTEE FOR REVIEW AND DISCUSSION/COMMENT. THE FORM 990 IS THEN BROUGHT BEFORE THE BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS THROUGH REGULAR REVIEW OF VENDOR LISTS AND CASH DISBURSEMENT INTERNAL CONTROLS. BOARD MEMBERS AND OFFICERS ARE REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS. IF A CONFLICT ARISES, THE CONFLICT IS BROUGHT TO THE ATTENTION OF THE PRESIDENT AND THEN THE BOARD OF DIRECTORS IF MATERIAL, THE BOARD SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IS MATERIAL, AND IN THE PRESENCE OF AN EXISTING MATERIAL CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO THE ORGANIZATION, THE DECISION OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF THE ORGANIZATION AND THE ADVANCEMENT OF ITS PURPOSE.
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 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
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

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