Civic Intelligence

Continental Homes Inc

990 • Fiscal year 2015 • EIN 23-7169311

Jan 01, 2015 to Dec 31, 2015 • Filed on May 10, 2016

1405 1st Ave NGrand Forks, ND 58203

(701) 746-2545

Siviq Scores

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

Liabilities / Assets

91st percentile

0.79x

Higher debt load relative to assets than 91% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

87th percentile

1.39x

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

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

67th percentile

$0

Higher top officer pay than 67% of similar nonprofits.

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

2015 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2015

Asset Growth

17th percentile

-7.6%

Faster asset growth than 17% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

54th percentile

2.1%

Faster revenue growth than 54% of similar nonprofits.

2015 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Down

$918,506

Down $75,387 (-7.6%) from 2014

Net Assets

Down

$188,973

Down $57,978 (-23%) from 2014

Liabilities

Down

$729,533

Down $17,409 (-2.3%) from 2014

Revenue

Up

$523,875

Up $10,773 (+2.1%) from 2014

Expenses

Up

$581,853

Up $34,674 (+6.3%) from 2014

Net Income

Down

-$57,978

Down $23,901 (-70%) from 2014

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2010: $1,130,946Liabilities 2010: $790,620Net Assets 2010: $340,3262010Assets 2011: $1,078,931Liabilities 2011: $779,648Net Assets 2011: $299,2832011Assets 2012: $1,061,976Liabilities 2012: $772,465Net Assets 2012: $289,5112012Assets 2013: $1,037,270Liabilities 2013: $756,242Net Assets 2013: $281,0282013Assets 2014: $993,893Liabilities 2014: $746,942Net Assets 2014: $246,9512014Assets 2015: $918,506Liabilities 2015: $729,533Net Assets 2015: $188,9732015Assets 2016: $866,573Liabilities 2016: $732,067Net Assets 2016: $134,5062016Assets 2017: $775,833Liabilities 2017: $691,660Net Assets 2017: $84,1732017Assets 2018: $728,355Liabilities 2018: $677,225Net Assets 2018: $51,1302018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2015

Assets$918,506
Liabilities$729,533
Net Assets$188,973

Operations Trend

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $522,8312010Expenses 2011: $520,3272011Expenses 2012: $528,4752012Revenue 2013: $507,252Expenses 2013: $515,735Net Income 2013: -$8,4832013Revenue 2014: $513,102Expenses 2014: $547,179Net Income 2014: -$34,0772014Revenue 2015: $523,875Expenses 2015: $581,853Net Income 2015: -$57,9782015Revenue 2016: $530,473Expenses 2016: $584,940Net Income 2016: -$54,4672016Revenue 2017: $578,657Expenses 2017: $628,990Net Income 2017: -$50,3332017Revenue 2018: $581,714Expenses 2018: $614,757Net Income 2018: -$33,0432018Revenue 2019: $543,161Expenses 2019: $557,058Net Income 2019: -$13,8972019

Highlighted filing

2015

Revenue$523,875
Expenses$581,853
Net Income-$57,978
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 10, 2016
Return Version
2015v2.1
Gross Receipts
$523,875
Mission and Program Overview

Mission

To provide low income housing to eligible persons in grand forks, nd

Provide low income housing to eligible persons in grand forks, nd.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$646,125$583,101▼ $63,024
Savings and Temporary Cash Investments$265,911$243,174▼ $22,737
Cash and Non-Interest-Bearing Accounts$60,069$47,404▼ $12,665
Accounts Receivable$6,617$28,974▲ $22,357
Prepaid Expenses and Deferred Charges$15,171$15,853▲ $682
Total Assets$993,893$918,506▼ $75,387
Liabilities
Mortgage Notes Payable Secured by Investment Property$669,097$655,614▼ $13,483
Accounts Payable and Accrued Expenses$73,458$69,262▼ $4,196
Deferred Revenue$4,387$4,657▲ $270
Total Liabilities$746,942$729,533▼ $17,409
Net Assets / Fund Balance
Unrestricted Net Assets$246,951$188,973▼ $57,978
Total Net Assets Fund Balance$246,951$188,973▼ $57,978
Total Liabilities and Net Assets / Fund Balance$993,893$918,506▼ $75,387

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$410,302$1,563,442$1,973,744
Equipment$122,332$217,321$339,653
Land$50,467-$50,467
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jon KotrbaPresident
Ron Bushy JrVice President
Adele LaudalDirector
Derek MurphDirector
Elton HendricksonDirector
Father Jim ShannonDirector
Nick BrownDirector
Patricia PhelpsDirector
Richard JacksonDirector
Terry HansonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$278,192
Program Service Revenue
$245,599
Investment Income
$84
Other Revenue
$0
Change in Net Assets
$-57,978

Audited Revenue Reconciliation

Revenue per Audited Statements
$523,875
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$523,875
Total Revenue per Form 990
$523,875
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$581,853
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$149,812--$149,812
Depreciation Depletion$63,023--$63,023
Fees for Services Management$49,143--$49,143
Other Expenses$35,555--$35,555
Insurance$23,625--$23,625
All Other Expenses$445$6,673-$7,118
Office Expenses-$4,597-$4,597
Fees for Services Accounting-$3,250-$3,250
Information Technology$1,203--$1,203
Fees for Services Legal$640--$640
Advertising-$296-$296
Travel$43--$43
Total Functional Expenses$567,037$14,816$0$581,853

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$581,853
Expenses per Audited Statements$581,849
Total Expenses per Audited Statements$581,849
Expenses Not Reported on Financial Statements$4
Other Expense Adjustments$4
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
Yes
Audit committee
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

The project entered into an agreement with the housing authority of the city of grand forks, north dakota to act as its agent in the operation of the project's properties and to make all collections for it.

Form 990, Part VI, Section A, Line 6

The organization is equally owned by its 8 separate members.

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

The grand forks homes board elects its 9th boardmember from a pool of residents.

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

The organization does not have commitee's with the right to act on the behalf of the governing body.

Form 990, Part VI, Section B, Line 11

The 990 is reviewed at a board of directors meeting.

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

Board members are cognizant of the interest rules and upon discovery of potential conflicts, it is discussed amoung board members and staff.

Form 990, Part VI, Section C, Line 19

The organization makes governing documents, the conflict of interest policy, and the financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Continental Homes Inc
EIN
23-7169311
Phone
7017462545
Address
1405 1ST AVE N, GRAND FORKS, ND 58203

Signing Officer

Name
Jon Kotrba
Title
President
Phone
7017462545
Signed
2016-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jon Kotrba
Formed
1969
Legal Domicile
Nd
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Brady Martz and Associates Pc
Address
PO BOX 14296, GRAND FORKS, ND 58208-4296
Preparer
Mark D Holm
Phone
7017754685
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The project and its nonprofit corporate owner are exempt from income taxes on exempt purpose income under section 501(c)(3) of the internal revenue code. The federal tax returns of the organization for december 31, 2015, 2014, 2013, and 2012 are subject to examination by the internal revenue service. The organization's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the internal revenue code and regulations, revenue rulings, court decisions, and other evidence. It is the opinion of management that the organization has no significant uncertain tax positions that would be subject to change upon examination.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

ROUNDING 4.

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IRS990ScheduleD/BuildingsGrp/BookValueAmt0410302
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01563442
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01973744
IRS990ScheduleD/EquipmentGrp/BookValueAmt0122332
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0217321
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0339653
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt04
IRS990ScheduleD/ExpensesSubtotalAmt0581849
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt050467
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt050467
IRS990ScheduleD/OtherExpensesNotIncludedAmt04
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0523875
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PROJECT AND ITS NONPROFIT CORPORATE OWNER ARE EXEMPT FROM INCOME TAXES ON EXEMPT PURPOSE INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FEDERAL TAX RETURNS OF THE ORGANIZATION FOR DECEMBER 31, 2015, 2014, 2013, AND 2012 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS, AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE ORGANIZATION HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING 4.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0583101
IRS990ScheduleD/TotalExpensesPerForm990Amt0581853
IRS990ScheduleD/TotalRevenuePerForm990Amt0523875
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0523875
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0581849
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROJECT ENTERED INTO AN AGREEMENT WITH THE HOUSING AUTHORITY OF THE CITY OF GRAND FORKS, NORTH DAKOTA TO ACT AS ITS AGENT IN THE OPERATION OF THE PROJECT'S PROPERTIES AND TO MAKE ALL COLLECTIONS FOR IT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS EQUALLY OWNED BY ITS 8 SEPARATE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GRAND FORKS HOMES BOARD ELECTS ITS 9TH BOARDMEMBER FROM A POOL OF RESIDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT HAVE COMMITEE'S WITH THE RIGHT TO ACT ON THE BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 990 IS REVIEWED AT A BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD MEMBERS ARE COGNIZANT OF THE INTEREST RULES AND UPON DISCOVERY OF POTENTIAL CONFLICTS, IT IS DISCUSSED AMOUNG BOARD MEMBERS AND STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0GRAND FORKS HOMESINC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0456035977
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROVIDE LOW INCOME HOUSING TO ELIGIBLE PERSONS IN GRAND FORKS, ND.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01405 1ST AVENUE NORTH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0GRAND FORKS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd058203
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0ND
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0993893
IRS990/TotalAssetsEOYAmt0918506
IRS990/TotalAssetsGrp/BOYAmt0993893
IRS990/TotalAssetsGrp/EOYAmt0918506
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0278192
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014816
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0567037
IRS990/TotalFunctionalExpensesGrp/TotalAmt0581853
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0746942
IRS990/TotalLiabilitiesEOYAmt0729533
IRS990/TotalLiabilitiesGrp/BOYAmt0746942
IRS990/TotalLiabilitiesGrp/EOYAmt0729533
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0246951
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0188973
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0567037
IRS990/TotalProgramServiceRevenueAmt0245599
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt084
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0245599
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0523875
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0993893
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0918506
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt043
IRS990/TravelGrp/TotalAmt043
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0246951
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0188973
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01405 1ST AVE N
IRS990/USAddress/CityNm0GRAND FORKS
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058203
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JON KOTRBA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT

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