Civic Intelligence

Schad Inc

990 • Fiscal year 2014 • EIN 23-7221931

May 01, 2013 to Apr 30, 2014 • Filed on Jul 30, 2014

Organization ProfileN/A
311 N Cedar55060

(507) 451-8524

Siviq Scores

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

Liabilities / Assets

47th percentile

0.07x

Higher debt load relative to assets than 47% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

52nd percentile

0.15x

Higher debt load relative to revenue than 52% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Net Margin

74th percentile

22%

Higher net margin than 74% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

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

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Asset Growth

70th percentile

7.8%

Faster asset growth than 70% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$1,032,987

Up $74,702 (+7.8%) from 2013

Net Assets

Up

$959,219

Up $104,949 (+12%) from 2013

Liabilities

Down

$73,768

Down $30,247 (-29%) from 2013

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin74th percentile

Revenue

$482,098

No earlier filing loaded for comparison.

Expenses

Down

$377,149

Down $46,303 (-11%) from 2013

Net Income

$104,949

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $982,021Liabilities 2012: $182,386Net Assets 2012: $799,6352012Assets 2013: $958,285Liabilities 2013: $104,015Net Assets 2013: $854,2702013Assets 2014: $1,032,987Liabilities 2014: $73,768Net Assets 2014: $959,2192014Assets 2015: $1,143,112Liabilities 2015: $60,187Net Assets 2015: $1,082,9252015Assets 2016: $1,302,759Liabilities 2016: $68,536Net Assets 2016: $1,234,2232016Assets 2017: $1,430,147Liabilities 2017: $71,435Net Assets 2017: $1,358,7122017Assets 2018: $1,523,121Liabilities 2018: $74,684Net Assets 2018: $1,448,4372018Assets 2019: $1,577,538Liabilities 2019: $66,311Net Assets 2019: $1,511,2272019Assets 2020: $1,816,691Liabilities 2020: $75,766Net Assets 2020: $1,740,9252020Assets 2021: $2,092,716Liabilities 2021: $82,950Net Assets 2021: $2,009,7662021Assets 2022: $2,370,085Liabilities 2022: $103,824Net Assets 2022: $2,266,2612022Assets 2023: $2,627,630Liabilities 2023: $61,161Net Assets 2023: $2,566,4692023Assets 2024: $3,006,375Liabilities 2024: $78,720Net Assets 2024: $2,927,6552024Assets 2025: $3,512,400Liabilities 2025: $71,885Net Assets 2025: $3,440,5152025

Highlighted filing

2014

Assets$1,032,987
Liabilities$73,768
Net Assets$959,219
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0Expenses 2012: $407,9732012Expenses 2013: $423,4522013Revenue 2014: $482,098Expenses 2014: $377,149Net Income 2014: $104,9492014Revenue 2015: $478,288Expenses 2015: $354,582Net Income 2015: $123,7062015Revenue 2016: $499,166Expenses 2016: $347,868Net Income 2016: $151,2982016Revenue 2017: $517,342Expenses 2017: $392,853Net Income 2017: $124,4892017Revenue 2018: $517,481Expenses 2018: $427,756Net Income 2018: $89,7252018Revenue 2019: $538,163Expenses 2019: $475,373Net Income 2019: $62,7902019Revenue 2020: $789,873Expenses 2020: $560,175Net Income 2020: $229,6982020Revenue 2021: $801,082Expenses 2021: $532,241Net Income 2021: $268,8412021Revenue 2022: $810,810Expenses 2022: $554,315Net Income 2022: $256,4952022Revenue 2023: $856,913Expenses 2023: $556,705Net Income 2023: $300,2082023Revenue 2024: $911,369Expenses 2024: $550,183Net Income 2024: $361,1862024Revenue 2025: $1,011,511Expenses 2025: $498,651Net Income 2025: $512,8602025

Highlighted filing

2014

Revenue$482,098
Expenses$377,149
Net Income$104,949
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2013 to Apr 30, 2014
Signed
Jul 30, 2014
Return Version
2013v3.1
Gross Receipts
$482,098
Mission and Program Overview

Mission

To provide housing for certain defined classes of persons, including the elderly and handicapped, under section 8 of the national housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$21,376$438,874▲ $417,498
Land, Buildings, and Equipment, Net$469,211$404,028▼ $65,183
Cash and Non-Interest-Bearing Accounts$45,704$102,077▲ $56,373
Prepaid Expenses and Deferred Charges$8,058$10,028▲ $1,970
Accounts Receivable$3,894$7,226▲ $3,332
Total Assets$958,285$1,032,987▲ $74,702
Other Assets Total$410,042$70,754▼ $339,288
Liabilities
Accounts Payable and Accrued Expenses$51,292$53,712▲ $2,420
Mortgage Notes Payable Secured by Investment Property$32,802--
Other Liabilities$19,921$20,056▲ $135
Total Liabilities$104,015$73,768▼ $30,247
Net Assets / Fund Balance
Unrestricted Net Assets$854,270$959,219▲ $104,949
Total Net Assets Fund Balance$854,270$959,219▲ $104,949
Total Liabilities and Net Assets / Fund Balance$958,285$1,032,987▲ $74,702

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$356,195$1,441,467$1,797,662
Other Land Buildings$31$113,622$113,653
Equipment$5,523$97,540$103,063
Land$42,279-$42,279
Other Assets Org$33,971--
Compensation and Service Providers
Top Officer Pay57th percentile

Board Members and Trustees

NameTitle
Ben CassPresident
Arlan ThompsonDirector
Bonnie NguyenDirector
Colleen AdamsDirector
Erynne ReyesDirector
Greg SalmonsenDirector
Jeff GoergenDirector
John RampDirector
Kerm UrbainDirector
Linda JensenDirector
Paul and Barb SlowinskiDirector
Stan and Inez DegenDirector
Dan AppelManaging Age
Rebecca KrenkeTreasurer
Sandra GilderhusVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$481,410
Investment Income
$688
Other Revenue
$0
Change in Net Assets
$104,949

Audited Revenue Reconciliation

Revenue per Audited Statements
$482,098
Total Revenue per Audited Statements
$482,098
Total Revenue per Form 990
$482,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$338,691
Salaries, Compensation, and Employee Benefits$38,458
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$76,078--$76,078
Depreciation Depletion$75,980--$75,980
Fees for Services Management-$38,014-$38,014
Other Salaries and Wages$34,790--$34,790
All Other Expenses$22,070--$22,070
Insurance$19,309--$19,309
Other Expenses$9,758--$9,758
Fees for Services Accounting-$9,300-$9,300
Payroll Taxes$2,981--$2,981
Office Expenses$1,331--$1,331
Advertising$1,091--$1,091
Other Employee Benefits$687--$687
Interest$387--$387
Fees for Services Legal$125--$125
Total Functional Expenses$329,835$47,314$0$377,149

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$377,149
Total Expenses per Audited Statements$377,149
Total Expenses per Form 990$377,149
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
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$19,430
Prepaid Revenue$626
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The project is managed by life style, inc. For a fee of 8.0% of the property's rental income for the years ended april 30, 2014 and 2013, respectively. Management fee expense was 38,014 and 37,528 for the years ended april 30, 2014 and 2013, respectively. Life style, inc. Furnishes bond coverage as required by regulations.”

Form 990, Page 6, Part VI, Line 11B

“It is reviewed and approved by the signing of the return.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

EIN
23-7221931

Signing Officer

Name
Ben Cass
Title
President
Signed
2014-07-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ben Cass
Formed
1970
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
5

Preparer

Preparer
Alan W Struss
Phone
5074510611
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08058
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010028
IRS990/PrincipalOfficerNm0BEN CASS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/Desc0APARTMENT RENTAL
IRS990/ProgramServiceRevenueGrp/Desc1LAUNDRY
IRS990/ProgramServiceRevenueGrp/Desc2TENANT CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0474748
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15366
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21296
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0474748
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15366
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21296
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0324
IRS990/PYOtherExpensesAmt0389883
IRS990/PYProgramServiceRevenueAmt0477763
IRS990/PYRevenuesLessExpensesAmt054635
IRS990/PYSalariesCompEmpBnftPaidAmt033569
IRS990/PYTotalExpensesAmt0423452
IRS990/PYTotalRevenueAmt0478087
IRS990/ReconcilationRevenueExpnssAmt0104949
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt021376
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0438874
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0356195
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01441467
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01797662
IRS990ScheduleD/EquipmentGrp/BookValueAmt05523
IRS990ScheduleD/EquipmentGrp/DepreciationAmt097540
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0103063
IRS990ScheduleD/ExpensesSubtotalAmt0377149
IRS990ScheduleD/LandGrp/BookValueAmt042279
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt042279
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt036783
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt133971
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0HUD RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REPLACEMENT RESERVE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt031
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0113622
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0113653
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019430
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1626
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID REVENUE
IRS990ScheduleD/RevenueSubtotalAmt0482098
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0404028
IRS990ScheduleD/TotalBookValueOtherAssetsAmt070754
IRS990ScheduleD/TotalExpensesPerForm990Amt0377149
IRS990ScheduleD/TotalLiabilityAmt020056
IRS990ScheduleD/TotalRevenuePerForm990Amt0482098
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0482098
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0377149
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROJECT IS MANAGED BY LIFE STYLE, INC. FOR A FEE OF 8.0% OF THE PROPERTY'S RENTAL INCOME FOR THE YEARS ENDED APRIL 30, 2014 AND 2013, RESPECTIVELY. MANAGEMENT FEE EXPENSE WAS 38,014 AND 37,528 FOR THE YEARS ENDED APRIL 30, 2014 AND 2013, RESPECTIVELY. LIFE STYLE, INC. FURNISHES BOND COVERAGE AS REQUIRED BY REGULATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IT IS REVIEWED AND APPROVED BY THE SIGNING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0958285
IRS990/TotalAssetsEOYAmt01032987
IRS990/TotalAssetsGrp/BOYAmt0958285
IRS990/TotalAssetsGrp/EOYAmt01032987
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt047314
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0329835
IRS990/TotalFunctionalExpensesGrp/TotalAmt0377149
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0104015
IRS990/TotalLiabilitiesEOYAmt073768
IRS990/TotalLiabilitiesGrp/BOYAmt0104015
IRS990/TotalLiabilitiesGrp/EOYAmt073768
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0854270
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0959219
IRS990/TotalProgramServiceExpensesAmt0329835
IRS990/TotalProgramServiceRevenueAmt0481410
IRS990/TotalRevenueGrp/ExclusionAmt0688
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0481410
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0482098
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0958285
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01032987
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0854270
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0959219
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10311 N CEDAR
IRS990/USAddress/City0OWATONNA
IRS990/USAddress/State0MN
IRS990/USAddress/ZIPCode055060
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BEN CASS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-07-30
ReturnHeader/Filer/BusinessName/BusinessNameLine10SCHAD INC
ReturnHeader/Filer/BusinessNameControlTxt0SCHA
ReturnHeader/Filer/EIN0237221931
ReturnHeader/Filer/USAddress/AddressLine10311 N CEDAR
ReturnHeader/Filer/USAddress/City0OWATONNA
ReturnHeader/Filer/USAddress/State0MN
ReturnHeader/Filer/USAddress/ZIPCode055060
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271590985
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10STRUSS CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10PO BOX 372
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0OWATONNA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode055060
ReturnHeader/PreparerPersonGrp/PhoneNum05074510611
ReturnHeader/PreparerPersonGrp/PreparationDt02014-08-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALAN W STRUSS
ReturnHeader/ReturnTs02014-08-20T14:20:52-05:00

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,032,987
Liabilities
$73,768
Net assets
$959,219
Revenue
$482,098
Expenses
$377,149
Net income
$104,949
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.51$0.07$3.44$1.01$0.50$0.51
2024Detailed filing. Detailed filing data is available for this year.$3.01$0.08$2.93$0.91$0.55$0.36
2023Detailed filing. Detailed filing data is available for this year.$2.63$0.06$2.57$0.86$0.56$0.30
2022Detailed filing. Detailed filing data is available for this year.$2.37$0.10$2.27$0.81$0.55$0.26
2021Detailed filing. Detailed filing data is available for this year.$2.09$0.08$2.01$0.80$0.53$0.27
2020Detailed filing. Detailed filing data is available for this year.$1.82$0.08$1.74$0.79$0.56$0.23
2019Detailed filing. Detailed filing data is available for this year.$1.58$0.07$1.51$0.54$0.48$0.06
2018Detailed filing. Detailed filing data is available for this year.$1.52$0.07$1.45$0.52$0.43$0.09
2017Detailed filing. Detailed filing data is available for this year.$1.43$0.07$1.36$0.52$0.39$0.12
2016Detailed filing. Detailed filing data is available for this year.$1.30$0.07$1.23$0.50$0.35$0.15
2015Detailed filing. Detailed filing data is available for this year.$1.14$0.06$1.08$0.48$0.35$0.12
2014Detailed filing. Detailed filing data is available for this year.$1.03$0.07$0.96$0.48$0.38$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$0.10$0.85$0.42
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.18$0.80$0.41