Civic Intelligence

Emerson Center Inc

990 • Fiscal year 2020 • EIN 23-7007367

Feb 01, 2019 to Jan 31, 2020 • Filed on Dec 11, 2020

Organization ProfileN/A

View Organization Page

125-c Trade StreetLexington, KY 40511

(859) 225-3334

Siviq Scores

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

Liabilities / Assets

90th percentile

0.65x

Higher debt load relative to assets than 90% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

76th percentile

0.60x

Higher debt load relative to revenue than 76% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Net Margin

47th percentile

7.6%

Higher net margin than 47% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

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

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets90th percentile

Assets

$1,178,502

No earlier filing loaded for comparison.

Net Assets

$414,692

No earlier filing loaded for comparison.

Liabilities

$763,810

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin47th percentile

Revenue

$1,276,131

No earlier filing loaded for comparison.

Expenses

$1,179,260

No earlier filing loaded for comparison.

Net Income

$96,871

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0Assets 2020: $1,178,502Liabilities 2020: $763,810Net Assets 2020: $414,6922020Assets 2021: $1,092,383Liabilities 2021: $655,892Net Assets 2021: $436,4912021Assets 2022: $1,214,265Liabilities 2022: $614,573Net Assets 2022: $599,6922022Assets 2025: $1,098,309Liabilities 2025: $371,152Net Assets 2025: $727,1572025

Highlighted filing

2020

Assets$1,178,502
Liabilities$763,810
Net Assets$414,692
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2020: $1,276,131Expenses 2020: $1,179,260Net Income 2020: $96,8712020Revenue 2021: $1,134,373Expenses 2021: $1,112,574Net Income 2021: $21,7992021Revenue 2022: $1,318,702Expenses 2022: $1,155,501Net Income 2022: $163,2012022Revenue 2025: $1,477,426Expenses 2025: $1,513,842Net Income 2025: -$36,4162025

Highlighted filing

2020

Revenue$1,276,131
Expenses$1,179,260
Net Income$96,871
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Feb 1, 2019 to Jan 31, 2020
Signed
Dec 11, 2020
Return Version
2019v5.1
Gross Receipts
$1,276,131
Mission and Program Overview

Mission

Assist in providing affordable housing to the elderly and disabled.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$924,618$852,973▼ $71,645
Savings and Temporary Cash Investments$226,475$296,013▲ $69,538
Accounts Receivable$13,023$19,711▲ $6,688
Cash and Non-Interest-Bearing Accounts$3,010$9,805▲ $6,795
Total Assets$1,167,126$1,178,502▲ $11,376
Liabilities
Mortgage Notes Payable Secured by Investment Property$730,190$642,929▼ $87,261
Accounts Payable and Accrued Expenses$62,241$63,385▲ $1,144
Escrow Account Liability$43,583$48,374▲ $4,791
Deferred Revenue$13,291$9,122▼ $4,169
Total Liabilities$849,305$763,810▼ $85,495
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$317,821$414,692▲ $96,871
Total Net Assets Fund Balance$317,821$414,692▲ $96,871
Total Liabilities and Net Assets / Fund Balance$1,167,126$1,178,502▲ $11,376

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$663,662$4,325,451$4,989,113
Land$189,311-$189,311
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
Ray DeboltPresident
Liz CarasVice President
David MillerDirector
Esther HulburtDirector
Kathleen MillerDirector
Sabrina OaksSecretary
Ed SergentTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,158,232
Investment Income
$906
Other Revenue
$116,993
Change in Net Assets
$96,871

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,276,131
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,276,131
Total Revenue per Form 990
$1,276,131
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$804,367
Salaries, Compensation, and Employee Benefits$374,893
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$201,559$69,111-$270,670
Depreciation Depletion$110,961--$110,961
Other Employee Benefits$61,803$21,714-$83,517
Fees for Services Management-$55,432-$55,432
Insurance$53,533--$53,533
Office Expenses$31,097--$31,097
Payroll Taxes$15,322$5,384-$20,706
Fees for Services Accounting-$13,626-$13,626
Interest$9,276--$9,276
All Other Expenses$7,043$664-$7,707
Other Expenses$5,934--$5,934
Advertising$2,090--$2,090
Fees for Services Legal$210--$210
Total Functional Expenses$1,013,329$165,931$0$1,179,260

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,179,260
Total Expenses per Audited Statements$1,179,260
Total Expenses per Form 990$1,179,260
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Management duties are delegated to kirkpatrick management company-ky.”

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

“There are no other committees other than the board of directors of the property.”

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

“The governing body and the management company- "kirkpatrick management company-ky"- are given a copy of the 990 to review. The board president will sign the 990 before sending/filing with the irs.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policies and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Emerson Center Inc
EIN
23-7007367
Phone
8592253334
Address
125-C TRADE STREET, LEXINGTON, KY 40511

Signing Officer

Name
Ray Debolt
Title
President
Phone
8592253334
Signed
2020-12-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ray Debolt
Formed
1972
Legal Domicile
Ky
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Hicks & Associates Cpas
Address
1795 ALYSHEBA WAY SUITE 6206, LEXINGTON, KY 40509
Preparer
David W Hickscpacffcfecgma
Phone
8593689727
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART IV, LINE 2B:

“These accounts are restricted by hud regulation for tenant security deposits.”

PART X, LINE 2:

“The project has no uncertain tax positions that qualify for disclosures in the financial statements. Tax years still open under federal and state statute of limitations remain subject to review and change.”

Raw XML Appendix384 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT DUTIES ARE DELEGATED TO KIRKPATRICK MANAGEMENT COMPANY-KY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO OTHER COMMITTEES OTHER THAN THE BOARD OF DIRECTORS OF THE PROPERTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING BODY AND THE MANAGEMENT COMPANY- "KIRKPATRICK MANAGEMENT COMPANY-KY"- ARE GIVEN A COPY OF THE 990 TO REVIEW. THE BOARD PRESIDENT WILL SIGN THE 990 BEFORE SENDING/FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
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 C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0KY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01167126
IRS990/TotalAssetsEOYAmt01178502
IRS990/TotalAssetsGrp/BOYAmt01167126
IRS990/TotalAssetsGrp/EOYAmt01178502
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0165931
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01013329
IRS990/TotalFunctionalExpensesGrp/TotalAmt01179260
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0849305
IRS990/TotalLiabilitiesEOYAmt0763810
IRS990/TotalLiabilitiesGrp/BOYAmt0849305
IRS990/TotalLiabilitiesGrp/EOYAmt0763810
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0317821
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0414692
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01013329
IRS990/TotalProgramServiceRevenueAmt01158232
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0906
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01275225
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01276131
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01167126
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01178502
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0125-C TRADE STREET
IRS990/USAddress/CityNm0LEXINGTON
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd040511
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RAY DEBOLT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08592253334
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-12-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EMERSON CENTER INC
ReturnHeader/Filer/BusinessNameControlTxt0EMER
ReturnHeader/Filer/EIN0237007367
ReturnHeader/Filer/PhoneNum08592253334
ReturnHeader/Filer/USAddress/AddressLine1Txt0125-C TRADE STREET
ReturnHeader/Filer/USAddress/CityNm0LEXINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040511
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07B88F0438B48F25E40C0186E0883317F4A54200D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07B88F0438B48F25E40C0186E0883317F4A54200D
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0192.181.146.239
ReturnHeader/FilingSecurityInformation/IPDt02020-12-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm016:50:13
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0453047226
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HICKS & ASSOCIATES CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01795 ALYSHEBA WAY SUITE 6206
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LEXINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040509
ReturnHeader/PreparerPersonGrp/PhoneNum08593689727
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID W HICKSCPACFFCFECGMA
ReturnHeader/ReturnTs02020-12-15T08:02:57-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-02-01
ReturnHeader/TaxPeriodEndDt02020-01-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,178,502
Liabilities
$763,810
Net assets
$414,692
Revenue
$1,276,131
Expenses
$1,179,260
Net income
$96,871
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.37$0.73$1.48$1.51$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.21$0.61$0.60$1.32$1.16$0.16
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.66$0.44$1.13$1.11$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.18$0.76$0.41$1.28$1.18$0.10