Civic Intelligence

Arete Housing Corporation

990 • Fiscal year 2020 • EIN 23-7127762

Jan 01, 2020 to Dec 31, 2020 • Filed on May 14, 2021

Organization ProfileN/A
5301 N Federal Hwy Suite B350Boca Raton, FL 33487

(813) 629-3774

Siviq Scores

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

Liabilities / Assets

87th percentile

0.41x

Higher debt load relative to assets than 87% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

86th percentile

0.46x

Higher debt load relative to revenue than 86% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Source year 2020

Net Margin

60th percentile

7.5%

Higher net margin than 60% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Source year 2020

Top Officer Pay

92nd percentile

$0

Higher top officer pay than 92% of similar nonprofits.

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

2020 filings • 501(c)7 • <$500k nonprofits • Source year 2020

Asset Growth

31st percentile

-5.7%

Faster asset growth than 31% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

87th percentile

17%

Faster revenue growth than 87% of similar nonprofits.

2020 filings • 501(c)7 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$147,129

Down $8,857 (-5.7%) from 2019

Net Assets

Up

$86,382

Up $9,966 (+13%) from 2019

Liabilities

Down

$60,747

Down $18,823 (-24%) from 2019

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin60th percentile

Revenue

Up

$132,165

Up $19,309 (+17%) from 2019

Expenses

Up

$122,199

Up $49,498 (+68%) from 2019

Net Income

Down

$9,966

Down $30,189 (-75%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$300K$200K$100K$0-$100KAssets 2013: $82,031Liabilities 2013: $154,826Net Assets 2013: -$72,7952013Assets 2014: $78,484Liabilities 2014: $139,502Net Assets 2014: -$61,0182014Assets 2015: $75,033Liabilities 2015: $124,189Net Assets 2015: -$49,1562015Assets 2016: $80,458Liabilities 2016: $105,115Net Assets 2016: -$24,6572016Assets 2017: $83,942Liabilities 2017: $97,061Net Assets 2017: -$13,1192017Assets 2018: $134,184Liabilities 2018: $97,923Net Assets 2018: $36,2612018Assets 2019: $155,986Liabilities 2019: $79,570Net Assets 2019: $76,4162019Assets 2020: $147,129Liabilities 2020: $60,747Net Assets 2020: $86,3822020Assets 2021: $207,875Liabilities 2021: $97,076Net Assets 2021: $110,7992021Assets 2022: $187,674Liabilities 2022: $79,688Net Assets 2022: $107,9862022Assets 2023: $45,614Net Assets 2023: $45,6142023Assets 2024: $142,892Net Assets 2024: $142,8922024

Highlighted filing

2020

Assets$147,129
Liabilities$60,747
Net Assets$86,382
Open 2020 Filing

Operations Trend

Revenue Growth87th percentile

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

$150K$100K$50K$0-$50KRevenue 2013: $72,387Expenses 2013: $58,310Net Income 2013: $14,0772013Revenue 2014: $72,506Expenses 2014: $60,729Net Income 2014: $11,7772014Revenue 2015: $78,401Expenses 2015: $66,539Net Income 2015: $11,8622015Revenue 2016: $73,973Expenses 2016: $49,474Net Income 2016: $24,4992016Revenue 2017: $129,457Expenses 2017: $117,919Net Income 2017: $11,5382017Revenue 2018: $116,906Expenses 2018: $59,472Net Income 2018: $57,4342018Revenue 2019: $112,856Expenses 2019: $72,701Net Income 2019: $40,1552019Revenue 2020: $132,165Expenses 2020: $122,199Net Income 2020: $9,9662020Revenue 2021: $143,493Expenses 2021: $119,076Net Income 2021: $24,4172021Revenue 2022: $102,415Expenses 2022: $105,228Net Income 2022: -$2,8132022Revenue 2023: $143,561Expenses 2023: $147,905Net Income 2023: -$4,3442023Revenue 2024: $141,860Expenses 2024: $44,582Net Income 2024: $97,2782024

Highlighted filing

2020

Revenue$132,165
Expenses$122,199
Net Income$9,966
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 14, 2021
Return Version
2020v4.1
Gross Receipts
$132,165
Mission and Program Overview

Mission

The mission of arete inc is to provide housing for students who are members of phi delta theta fraternity. To this end the mission of providing housing and recreational facilities was accomplished.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$119,598$107,811▼ $11,787
Savings and Temporary Cash Investments$32,294$29,033▼ $3,261
Cash and Non-Interest-Bearing Accounts$4,094$10,285▲ $6,191
Total Assets$155,986$147,129▼ $8,857
Liabilities
Mortgage Notes Payable Secured by Investment Property$79,570$60,747▼ $18,823
Total Liabilities$79,570$60,747▼ $18,823
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$76,416$86,382▲ $9,966
Total Net Assets Fund Balance$76,416$86,382▲ $9,966
Total Liabilities and Net Assets / Fund Balance$155,986$147,129▼ $8,857

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$107,811$236,471$344,282
Compensation and Service Providers
Top Officer Pay92nd percentile

Board Members and Trustees

NameTitle
Mike FimianiPresident
Christopher TylerVice President
Al WrightSectreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$132,165
Change in Net Assets
$9,966
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$122,199
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-$16,152-$16,152
Insurance$13,019--$13,019
Depreciation Depletion$6,286--$6,286
All Other Expenses$2,266--$2,266
Other Expenses$1,313--$1,313
Total Functional Expenses$106,047$16,152$0$122,199
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
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Governing body decisions Part VI line 7B

“Form 990 part vi line 7b - decisions subject to approval of members at the annual meeting of the membership board reports to the membership on the activity of the prior year and the membership affirms the action”

Form 990 governing body review Part VI line 11

“Form 990 part vi, line 11b - organizations process to review form 990 no review was or will be conducted.”

Governing documents etc available to public Part VI line 19

“Form 990, part vi line 19 - governing documents disclosure explanation governing documents and form 990 are made vailable upon request and are available for inspection at the annual meeting of the membership.”

Filing and Contact Details

Filer

Filer Name
Arete Inc
EIN
23-7127762
Address
5301 N FEDERAL HWY SUITE B350, BOCA RATON, FL 33487
Doing Business As
Arete Housing Corporation

Signing Officer

Name
Mike Fimiani
Title
President
Signed
2021-05-14
Discuss with paid preparer
No

Organization Details

Formed
1989
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Martin Wernock
Address
18930 Maisons Dr, Lutz, FL 33558
Preparer
Martin Wernock
Phone
8137461541
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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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ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
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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
$147,129
Liabilities
$60,747
Net assets
$86,382
Revenue
$132,165
Expenses
$122,199
Net income
$9,966
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.43$1.43$1.42$0.45$0.97
2023Detailed filing. Detailed filing data is available for this year.$0.46$0.46$1.44$1.48$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.88$0.80$1.08$1.02$1.05$0.03
2021Detailed filing. Detailed filing data is available for this year.$2.08$0.97$1.11$1.43$1.19$0.24
2020Detailed filing. Detailed filing data is available for this year.$1.47$0.61$0.86$1.32$1.22$0.10
2019Detailed filing. Detailed filing data is available for this year.$1.56$0.80$0.76$1.13$0.73$0.40
2018Detailed filing. Detailed filing data is available for this year.$1.34$0.98$0.36$1.17$0.59$0.57
2017Detailed filing. Detailed filing data is available for this year.$0.84$0.97$0.13$1.29$1.18$0.12
2016Detailed filing. Detailed filing data is available for this year.$0.80$1.05$0.25$0.74$0.49$0.24
2015Detailed filing. Detailed filing data is available for this year.$0.75$1.24$0.49$0.78$0.67$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.78$1.40$0.61$0.73$0.61$0.12
2013Detailed filing. Detailed filing data is available for this year.$0.82$1.55$0.73$0.72$0.58$0.14