Civic Intelligence

Emerson Center Inc

990 • Fiscal year 2024 • EIN 23-7007367

Feb 01, 2023 to Jan 31, 2024 • Filed on Jul 12, 2024

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

83rd percentile

0.38x

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

2024 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

0.34x

Higher debt load relative to revenue than 73% of similar nonprofits.

2024 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2024

Net Margin

35th percentile

1.4%

Higher net margin than 35% of similar nonprofits.

2024 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

62nd percentile

$0

Higher top officer pay than 62% of similar nonprofits.

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

2024 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2024

Asset Growth

18th percentile

-5.7%

Faster asset growth than 18% of similar nonprofits.

2024 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

29th percentile

-0.8%

Faster revenue growth than 29% of similar nonprofits.

2024 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$1,230,610

Up $16,345 (+1.3%) from 2022

Net Assets

Up

$763,573

Up $163,881 (+27%) from 2022

Liabilities

Down

$467,037

Down $147,536 (-24%) from 2022

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin35th percentile

Revenue

Up

$1,388,077

Up $69,375 (+5.3%) from 2022

Expenses

Up

$1,368,415

Up $212,914 (+18%) from 2022

Net Income

Down

$19,662

Down $143,539 (-88%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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 2024: $1,230,610Liabilities 2024: $467,037Net Assets 2024: $763,5732024Assets 2025: $1,098,309Liabilities 2025: $371,152Net Assets 2025: $727,1572025

Highlighted filing

2024

Assets$1,230,610
Liabilities$467,037
Net Assets$763,573
Open 2024 Filing

Operations Trend

Revenue Growth29th percentile

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 2024: $1,388,077Expenses 2024: $1,368,415Net Income 2024: $19,6622024Revenue 2025: $1,477,426Expenses 2025: $1,513,842Net Income 2025: -$36,4162025

Highlighted filing

2024

Revenue$1,388,077
Expenses$1,368,415
Net Income$19,662
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Feb 1, 2023 to Jan 31, 2024
Signed
Jul 12, 2024
Return Version
2023v5.1
Gross Receipts
$1,388,077
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$656,317$599,703▼ $56,614
Savings and Temporary Cash Investments$565,738$494,513▼ $71,225
Prepaid Expenses and Deferred Charges$3,505$109,987▲ $106,482
Accounts Receivable$20,927$23,931▲ $3,004
Cash and Non-Interest-Bearing Accounts$58,288$2,476▼ $55,812
Total Assets$1,304,775$1,230,610▼ $74,165
Liabilities
Mortgage Notes Payable Secured by Investment Property$374,955$283,521▼ $91,434
Accounts Payable and Accrued Expenses$128,926$121,707▼ $7,219
Escrow Account Liability$49,235$47,482▼ $1,753
Deferred Revenue-$14,327-
Total Liabilities$553,116$467,037▼ $86,079
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$751,659$763,573▲ $11,914
Total Net Assets Fund Balance$751,659$763,573▲ $11,914
Total Liabilities and Net Assets / Fund Balance$1,304,775$1,230,610▼ $74,165

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$410,392$4,651,504$5,061,896
Land$189,311-$189,311
Compensation and Service Providers
Top Officer Pay62nd percentile

Board Members and Trustees

NameTitle
David T MillerPresident
Liz CarasVice President
Antoinette YongbangDirector
Carole LeeDirector
Dana TackettDirector
Kean AshurstDirector
Richard HaleyDirector
Ed SergentEmeritus Director
Samuel Halley IiiEmeritus Director
Walter ForsterEmeritus Director
Kimberly BrowningSecretary
Kathleen MillerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,366,742
Investment Income
$1,023
Other Revenue
$20,312
Change in Net Assets
$19,662

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,388,077
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,388,077
Total Revenue per Form 990
$1,388,077
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$987,169
Salaries, Compensation, and Employee Benefits$381,246
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$202,683$72,099-$274,782
Insurance$123,700--$123,700
Other Employee Benefits$63,228$22,215-$85,443
Fees for Services Management-$68,070-$68,070
Depreciation Depletion$61,811--$61,811
Office Expenses$42,135--$42,135
Payroll Taxes$15,556$5,465-$21,021
Fees for Services Accounting-$14,731-$14,731
Other Expenses$10,861--$10,861
All Other Expenses$8,535$1,843-$10,378
Advertising$10,176--$10,176
Interest$5,102--$5,102
Fees for Services Legal$1,750--$1,750
Total Functional Expenses$1,183,992$184,423$0$1,368,415

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,368,415
Total Expenses per Audited Statements$1,368,415
Total Expenses per Form 990$1,368,415
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

“Emerson center, inc. Has an executive committee, composed of the president, vice-president, treasurer, and secretary, to act on behalf of the board between meetings. Actions and decisions of the executive committee are documented in emerson center, inc.'s regular board meeting minutes.”

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
David T Miller
Title
President
Phone
8592253334
Signed
2024-07-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David T Miller
Formed
1972
Legal Domicile
Ky
Voting Board Members
9
Independent Board Members
9
Employees
25
Volunteers
0

Preparer

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

Additional Explanations

FORM 990, PART V, LINE 2A:

“Emerson center, inc. ("project") employed 25 individuals during the 2023 calendar year. All of the project's employees are paid through the management company's payroll and reported on the management company's w-3 and federal employment tax returns.”

FORM 990, PART XII, LINE 2C:

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

Financial Statement Notes

PART IV, LINE 2B:

“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.”

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IRS990/OtherSalariesAndWagesGrp/TotalAmt0274782
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05465
IRS990/PayrollTaxesGrp/ProgramServicesAmt015556
IRS990/PayrollTaxesGrp/TotalAmt021021
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03505
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0109987
IRS990/PrincipalOfficerNm0DAVID T MILLER
IRS990/PriorPeriodAdjustmentsAmt0-7748
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0GROSS RENTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01366742
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01366742
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0774
IRS990/PYOtherExpensesAmt0889011
IRS990/PYOtherRevenueAmt020271
IRS990/PYProgramServiceRevenueAmt01378259
IRS990/PYRevenuesLessExpensesAmt0151967
IRS990/PYSalariesCompEmpBnftPaidAmt0358326
IRS990/PYTotalExpensesAmt01247337
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01399304
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt019662
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01387054
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0565738
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0494513
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01368415
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0189311
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0189311
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0410392
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04651504
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05061896
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01388077
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TENANT SECURITY DEPOSITS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0599703
IRS990ScheduleD/TotalExpensesPerForm990Amt01368415
IRS990ScheduleD/TotalRevenuePerForm990Amt01388077
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01388077
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01368415
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EMERSON CENTER, INC. ("PROJECT") EMPLOYED 25 INDIVIDUALS DURING THE 2023 CALENDAR YEAR. ALL OF THE PROJECT'S EMPLOYEES ARE PAID THROUGH THE MANAGEMENT COMPANY'S PAYROLL AND REPORTED ON THE MANAGEMENT COMPANY'S W-3 AND FEDERAL EMPLOYMENT TAX RETURNS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT DUTIES ARE DELEGATED TO KIRKPATRICK MANAGEMENT COMPANY-KY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EMERSON CENTER, INC. HAS AN EXECUTIVE COMMITTEE, COMPOSED OF THE PRESIDENT, VICE-PRESIDENT, TREASURER, AND SECRETARY, TO ACT ON BEHALF OF THE BOARD BETWEEN MEETINGS. ACTIONS AND DECISIONS OF THE EXECUTIVE COMMITTEE ARE DOCUMENTED IN EMERSON CENTER, INC.'S REGULAR BOARD MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINE 2A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 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/TotalAssetsBOYAmt01304775
IRS990/TotalAssetsEOYAmt01230610
IRS990/TotalAssetsGrp/BOYAmt01304775
IRS990/TotalAssetsGrp/EOYAmt01230610
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt025
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0184423
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01183992
IRS990/TotalFunctionalExpensesGrp/TotalAmt01368415
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0553116
IRS990/TotalLiabilitiesEOYAmt0467037
IRS990/TotalLiabilitiesGrp/BOYAmt0553116
IRS990/TotalLiabilitiesGrp/EOYAmt0467037
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0751659
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0763573
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01183992
IRS990/TotalProgramServiceRevenueAmt01366742
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01023
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01387054
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01388077
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01304775
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01230610
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0125-C TRADE STREET
IRS990/USAddress/CityNm0LEXINGTON
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd040511
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID T MILLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08592253334
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-12

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,230,610
Liabilities
$467,037
Net assets
$763,573
Revenue
$1,388,077
Expenses
$1,368,415
Net income
$19,662
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
2024Detailed filing. Detailed filing data is available for this year.$1.23$0.47$0.76$1.39$1.37$0.02
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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.18$0.76$0.41$1.28$1.18$0.10