Civic Intelligence

Continental Homes Inc

990 • Fiscal year 2017 • EIN 23-7169311

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 30, 2018

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

93rd percentile

0.89x

Higher debt load relative to assets than 93% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

1.20x

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

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Net Margin

22nd percentile

-8.7%

Higher net margin than 22% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

68th percentile

$0

Higher top officer pay than 68% of similar nonprofits.

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

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Asset Growth

12th percentile

-10%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

66th percentile

9.1%

Faster revenue growth than 66% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$775,833

Down $90,740 (-10%) from 2016

Net Assets

Down

$84,173

Down $50,333 (-37%) from 2016

Liabilities

Down

$691,660

Down $40,407 (-5.5%) from 2016

Revenue

Up

$578,657

Up $48,184 (+9.1%) from 2016

Expenses

Up

$628,990

Up $44,050 (+7.5%) from 2016

Net Income

Up

-$50,333

Up $4,134 (+7.6%) from 2016

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

2017

Assets$775,833
Liabilities$691,660
Net Assets$84,173

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

2017

Revenue$578,657
Expenses$628,990
Net Income-$50,333
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 30, 2018
Return Version
2017v2.2
Gross Receipts
$578,657
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$520,817$460,863▼ $59,954
Savings and Temporary Cash Investments$253,769$202,460▼ $51,309
Cash and Non-Interest-Bearing Accounts$42,296$69,214▲ $26,918
Accounts Receivable$33,391$26,939▼ $6,452
Prepaid Expenses and Deferred Charges$16,300$16,357▲ $57
Total Assets$866,573$775,833▼ $90,740
Liabilities
Mortgage Notes Payable Secured by Investment Property$641,480$626,662▼ $14,818
Accounts Payable and Accrued Expenses$83,773$60,339▼ $23,434
Deferred Revenue$6,814$4,659▼ $2,155
Total Liabilities$732,067$691,660▼ $40,407
Net Assets / Fund Balance
Unrestricted Net Assets$134,506$84,173▼ $50,333
Total Net Assets Fund Balance$134,506$84,173▼ $50,333
Total Liabilities and Net Assets / Fund Balance$866,573$775,833▼ $90,740

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$304,055$1,669,689$1,973,744
Equipment$106,341$233,312$339,653
Land$50,467-$50,467
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ron Bushy JrPresident
Father Jim ShannonVice President
Derek MurphDirector
Elton HendricksonDirector
Jon KotrbaDirector
Patricia PhelpsDirector
Richard JacksonDirector
Terry HansonSecretary
Adele LaudalTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$354,300
Program Service Revenue
$224,273
Investment Income
$84
Other Revenue
$0
Change in Net Assets
$-50,333

Audited Revenue Reconciliation

Revenue per Audited Statements
$578,657
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$578,657
Total Revenue per Form 990
$578,657
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$628,990
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$154,770--$154,770
Depreciation Depletion$59,955--$59,955
Fees for Services Management$45,523--$45,523
Other Expenses$47,653$39,267-$39,267
All Other Expenses$38,853--$38,853
Insurance$25,972--$25,972
Fees for Services Accounting-$4,250-$4,250
Office Expenses-$4,197-$4,197
Fees for Services Legal$3,651--$3,651
Information Technology$1,014--$1,014
Advertising-$114-$114
Total Functional Expenses$581,162$47,828$0$628,990

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$628,992
Total Expenses per Audited Statements$628,992
Total Expenses per Form 990$628,990
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-2
Other Expense Adjustments$-2
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 committee's with the right to act on the behalf of the governing body.

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

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
Ron Bushy Jr
Title
President
Phone
7017462545
Signed
2018-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Bushy Jr
Formed
1969
Legal Domicile
Nd
Voting Board Members
8
Independent Board Members
8
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 are subject to examination by the internal revenue service for three years after the due date of the returns. 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 -2.

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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 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THREE YEARS AFTER THE DUE DATE OF THE RETURNS. 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 -2.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0460863
IRS990ScheduleD/TotalExpensesPerForm990Amt0628990
IRS990ScheduleD/TotalRevenuePerForm990Amt0578657
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0578657
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0628992
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 COMMITTEE'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 11B
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/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0866573
IRS990/TotalAssetsEOYAmt0775833
IRS990/TotalAssetsGrp/BOYAmt0866573
IRS990/TotalAssetsGrp/EOYAmt0775833
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0354300
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt047828
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0581162
IRS990/TotalFunctionalExpensesGrp/TotalAmt0628990
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0732067
IRS990/TotalLiabilitiesEOYAmt0691660
IRS990/TotalLiabilitiesGrp/BOYAmt0732067
IRS990/TotalLiabilitiesGrp/EOYAmt0691660
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0134506
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt084173
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0581162
IRS990/TotalProgramServiceRevenueAmt0224273
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt084
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0224273
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0578657
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0866573
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0775833
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0134506
IRS990/UnrestrictedNetAssetsGrp/EOYAmt084173
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01405 1ST AVE N
IRS990/USAddress/CityNm0GRAND FORKS
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058203
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RON BUSHY JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07017462545
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CONTINENTAL HOMES INC
ReturnHeader/Filer/BusinessNameControlTxt0CONT
ReturnHeader/Filer/EIN0237169311
ReturnHeader/Filer/PhoneNum07017462545
ReturnHeader/Filer/USAddress/AddressLine1Txt01405 1ST AVE N
ReturnHeader/Filer/USAddress/CityNm0GRAND FORKS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ND
ReturnHeader/Filer/USAddress/ZIPCd058203
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FB8F5C5DCAEA0B75EDF5ACBC81FF53449C465FED
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0BB0716C17558F9CEF102EC9B69DFBDD57FE7897C
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.111.23.187
ReturnHeader/FilingSecurityInformation/IPDt02018-04-30
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:27:41
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450310328
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRADY MARTZ AND ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 14296

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