Civic Intelligence

Drake Homes Inc

EIN 23-7110986 • 501(c)4 • Drake, ND

NTEE Z99Z

Profile

To provide low income housing for people with low incomes

PO Box 37Drake, ND 58736
Siviq Scores

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

Liabilities / Assets

75th percentile

0.06x

Higher debt load relative to assets than 75% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

79th percentile

0.10x

Higher debt load relative to revenue than 79% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Net Margin

84th percentile

30%

Higher net margin than 84% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

46th percentile

-2.5%

Faster asset growth than 46% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2021 to 2024

Revenue Growth

42nd percentile

-4.8%

Faster revenue growth than 42% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2021 to 2024

Assets

Up

$79,796

Up $1,219 (+1.6%) from 2023

Liabilities

Down

$5,131

Down $7,971 (-61%) from 2023

Net Assets

Up

$74,665

Up $9,190 (+14%) from 2023

Revenue

Up

$48,995

Up $14,767 (+43%) from 2023

Expenses

Up

$34,456

Up $4,035 (+13%) from 2023

Net Income

Up

$14,539

Up $10,732 (+282%) from 2023

Trend Graphs

Balance Sheet Trend

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

$100K$50K$0Assets 2021: $86,021Liabilities 2021: $27,296Net Assets 2021: $58,7252021Assets 2022: $72,277Liabilities 2022: $18,063Net Assets 2022: $54,2142022Assets 2023: $78,577Liabilities 2023: $13,102Net Assets 2023: $65,4752023Assets 2024: $79,796Liabilities 2024: $5,131Net Assets 2024: $74,6652024

Highlighted filing

2024

Assets$79,796
Liabilities$5,131
Net Assets$74,665

Operations Trend

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

$60K$40K$20K$0-$20KRevenue 2021: $56,763Expenses 2021: $42,948Net Income 2021: $13,8152021Revenue 2022: $49,238Expenses 2022: $54,152Net Income 2022: -$4,9142022Revenue 2023: $34,228Expenses 2023: $30,421Net Income 2023: $3,8072023Revenue 2024: $48,995Expenses 2024: $34,456Net Income 2024: $14,5392024

Highlighted filing

2024

Revenue$48,995
Expenses$34,456
Net Income$14,539

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 29, 2025
Return Version
2024v5.2
Gross Receipts
$48,995
Mission and Program Overview

Mission

To provide low income housing for people with low incomes

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$65,475$74,665▲ $9,190
Land, Buildings, and Equipment, Net$55,340$56,356▲ $1,016
Savings and Temporary Cash Investments$8,490$10,990▲ $2,500
Other Notes and Loans Receivable, Net$8,925--
Intangible Assets-$5,038-
Cash and Non-Interest-Bearing Accounts$2,811$4,401▲ $1,590
Total Assets$78,577$79,796▲ $1,219
Other Assets Total$3,011$3,011→ $0
Liabilities
Unsecured Notes Loans Payable$6,127$3,464▼ $2,663
Mortgage Notes Payable Secured by Investment Property$6,975$1,667▼ $5,308
Total Liabilities$13,102$5,131▼ $7,971
Net Assets / Fund Balance
Total Net Assets Fund Balance$65,475$74,665▲ $9,190
Total Liabilities and Net Assets / Fund Balance$78,577$79,796▲ $1,219

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$47,283$134,004$181,287
Land$6,140-$6,140
Equipment$2,933$2,608$5,541
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brad BrunerPresident
David RoselVice President
Al SmithDirector
Gary HofferDirector
Jodi NicholesDirector
Beth BrunerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1
Other Revenue
$48,994
Change in Net Assets
$14,539
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$34,449
Salaries, Compensation, and Employee Benefits$7
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$6,646--$6,646
Insurance$4,661--$4,661
Other Expenses$3,932--$3,932
Fees for Services Accounting$3,080--$3,080
Depreciation Depletion$417--$417
Interest$409--$409
Office Expenses$311--$311
All Other Expenses$80--$80
Payroll Taxes$7--$7
Total Functional Expenses$34,456$0$0$34,456
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
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

Line 11b - governing body reviews and approves financials prior to tax return being completed. Line 19 - available upon request

CEO executive director top management comp Part VI line 15A

Only manager/treasurer is compensated by the organization

Other officer or key employee compensation Part VI line 15B

Key employee manager- treasurer is paid via an hourly rate. For tax year 2024 no manager - treasurer was on the payroll. Board members took care of books with no compensation.

Governing documents etc available to public Part VI line 19

Governing documents are available upon request

Filing and Contact Details

Filer

Filer Name
Drake Homes Inc
EIN
23-7110986
In Care Of
% DAVID ROSEL
Phone
7014657257
Address
PO BOX 37, DRAKE, ND 58736

Signing Officer

Name
David Rosel
Title
Vice President
Phone
7014657257
Signed
2025-09-29
Discuss with paid preparer
Yes

Organization Details

Formed
1971
Legal Domicile
Nd
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Precision Tax Service LLC
Address
900 LINCOLN AVE SUITE 3 PO BOX 157, HARVEY, ND 58341
Preparer
Kelly Jaskowiak
Phone
7013245200
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Usda loan paid from the funds owed to the organization prior to paying the rental assistance amount $5308.00 amount necessary to balance $41.00

List of other fees for services expenses Part IX line 11G

Lawn care, snow removal etc fees = $6646.00

Raw XML Appendix335 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/ExplanationTxt2KEY EMPLOYEE MANAGER- TREASURER IS PAID VIA AN HOURLY RATE. FOR TAX YEAR 2024 NO MANAGER - TREASURER WAS ON THE PAYROLL. BOARD MEMBERS TOOK CARE OF BOOKS WITH NO COMPENSATION.
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/Filer/BusinessNameControlTxt0DRAK
ReturnHeader/Filer/EIN0237110986
ReturnHeader/Filer/InCareOfNm0% DAVID ROSEL
ReturnHeader/Filer/PhoneNum07014657257
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 37
ReturnHeader/Filer/USAddress/CityNm0DRAKE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ND
ReturnHeader/Filer/USAddress/ZIPCd058736
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0232462370
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PRECISION TAX SERVICE LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0900 LINCOLN AVE SUITE 3 PO BOX 157
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HARVEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd058341
ReturnHeader/PreparerPersonGrp/PhoneNum07013245200
ReturnHeader/PreparerPersonGrp/PreparationDt02025-09-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KELLY JASKOWIAK
ReturnHeader/ReturnTs02025-09-29T17:47:21-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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