Civic Intelligence

Schad Inc

EIN 23-7221931 • 501(c)4 • Owatonna, MN

Profile

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

311 N CedarOwatonna, MN 55060

n/A

Siviq Scores

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

Liabilities / Assets

45th percentile

0.02x

Higher debt load relative to assets than 45% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

53rd percentile

0.07x

Higher debt load relative to revenue than 53% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Net Margin

88th percentile

51%

Higher net margin than 88% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

65th percentile

$0

Higher top officer pay than 65% of similar nonprofits.

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

501(c)4 • $1M-$5M nonprofits • Source year 2025

Asset Growth

75th percentile

14%

Faster asset growth than 75% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2025

Revenue Growth

51st percentile

7.7%

Faster revenue growth than 51% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2025

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$3,512,400

Up $506,025 (+17%) from 2024

Liabilities

Down

$71,885

Down $6,835 (-8.7%) from 2024

Net Assets

Up

$3,440,515

Up $512,860 (+18%) from 2024

Operations
Liabilities / Revenue53rd percentileNet Margin88th percentile

Revenue

Up

$1,011,511

Up $100,142 (+11%) from 2024

Expenses

Down

$498,651

Down $51,532 (-9.4%) from 2024

Net Income

Up

$512,860

Up $151,674 (+42%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth75th percentile

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

$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

2025

Assets$3,512,400
Liabilities$71,885
Net Assets$3,440,515
Open 2025 Filing

Operations Trend

Revenue Growth51st percentile

Revenue, expenses, and net income by year, with the latest 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

2025

Revenue$1,011,511
Expenses$498,651
Net Income$512,860
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$3,512,400
Liabilities
$71,885
Net assets
$3,440,515
Revenue
$1,011,511
Expenses
$498,651
Net income
$512,860
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
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
May 1, 2024 to Apr 30, 2025
Signed
Oct 7, 2025
Return Version
2024v5.0
Gross Receipts
$1,011,511
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$1,566,914$1,629,593▲ $62,679
Cash and Non-Interest-Bearing Accounts$584,262$1,054,487▲ $470,225
Land, Buildings, and Equipment, Net$839,409$801,998▼ $37,411
Prepaid Expenses and Deferred Charges$13,540$22,776▲ $9,236
Accounts Receivable$2,250$3,546▲ $1,296
Total Assets$3,006,375$3,512,400▲ $506,025
Liabilities
Other Liabilities$34,253$39,455▲ $5,202
Accounts Payable and Accrued Expenses$44,467$32,430▼ $12,037
Total Liabilities$78,720$71,885▼ $6,835
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,927,655$3,440,515▲ $512,860
Total Net Assets Fund Balance$2,927,655$3,440,515▲ $512,860
Total Liabilities and Net Assets / Fund Balance$3,006,375$3,512,400▲ $506,025

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$649,330$1,910,541$2,559,871
Other Land Buildings$110,389$179,408$289,797
Equipment-$80,873$80,873
Land$42,279-$42,279
Compensation and Service Providers
Top Officer Pay65th percentile

Board Members and Trustees

NameTitle
Dave ChatelainePresident
Ashley EltonDirector
Carol HarveyDirector
Dan KenowDirector
Karen DonovanDirector
Larry SimonsonDirector
Linda SiglerDirector
Mark CarverDirector
Pete DixonDirector
Sandra WaltonDirector
Jim AbbeManaging Age
Doug PhillipsSecretary
Diane KaplanTreasurer
Allen ArnoldVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$950,076
Investment Income
$61,435
Other Revenue
$0
Change in Net Assets
$512,860
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$461,754
Salaries, Compensation, and Employee Benefits$36,897
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$85,243-$85,243
Occupancy$78,576--$78,576
Depreciation Depletion$60,394--$60,394
All Other Expenses$41,894--$41,894
Other Salaries and Wages$34,288--$34,288
Insurance$31,286--$31,286
Other Expenses$15,626--$15,626
Advertising$3,777--$3,777
Fees for Services Accounting-$3,125-$3,125
Office Expenses$2,989--$2,989
Payroll Taxes$2,609--$2,609
Total Functional Expenses$410,283$88,368$0$498,651
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$33,534
Prepaid Revenue$5,921
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
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 approximately 9.0% of the property's rental income for the year ended april 30, 2025. Management fee expense was 85,243 for the year ended april 30, 2025. 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

Filer Name
Schad Inc
EIN
23-7221931
Phone
5074518524
Address
311 N CEDAR, OWATONNA, MN 55060

Signing Officer

Name
Dave Chatelaine
Title
President
Phone
5074518524
Signed
2025-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dave Chatelaine
Formed
1970
Legal Domicile
Mn
Voting Board Members
14
Independent Board Members
14
Employees
0

Preparer

Firm
Struss Cpas Pc
Address
2055 4TH AVENUE SE, OWATONNA, MN 55060
Preparer
Sarah M Struss
Phone
5074510611
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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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IRS990/OtherExpensesGrp/Desc0CONTRACTS
IRS990/OtherExpensesGrp/Desc1REAL ESTATE TAXES
IRS990/OtherExpensesGrp/Desc2ADMINISTRATIVE
IRS990/OtherExpensesGrp/Desc3OPERATING AND MAINTENANCE
IRS990/OtherExpensesGrp/ProgramServicesAmt076657
IRS990/OtherExpensesGrp/ProgramServicesAmt143696
IRS990/OtherExpensesGrp/ProgramServicesAmt218491
IRS990/OtherExpensesGrp/ProgramServicesAmt315626
IRS990/OtherExpensesGrp/TotalAmt076657
IRS990/OtherExpensesGrp/TotalAmt143696
IRS990/OtherExpensesGrp/TotalAmt218491
IRS990/OtherExpensesGrp/TotalAmt315626
IRS990/OtherLiabilitiesGrp/BOYAmt034253
IRS990/OtherLiabilitiesGrp/EOYAmt039455
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt034288
IRS990/OtherSalariesAndWagesGrp/TotalAmt034288
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IRS990/PayrollTaxesGrp/ProgramServicesAmt02609
IRS990/PayrollTaxesGrp/TotalAmt02609
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt013540
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt022776
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IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/Desc0APARTMENT RENTAL
IRS990/ProgramServiceRevenueGrp/Desc1LAUNDRY
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0942613
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt17463
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0942613
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt17463
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt032417
IRS990/PYOtherExpensesAmt0503038
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IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0true
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01910541
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02559871
IRS990ScheduleD/EquipmentGrp/DepreciationAmt080873
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt080873
IRS990ScheduleD/LandGrp/BookValueAmt042279
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt042279
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0110389
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0179408
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0289797
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt033534
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15921
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID REVENUE
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IRS990ScheduleD/TotalLiabilityAmt039455
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROJECT IS MANAGED BY LIFE STYLE, INC. FOR A FEE OF APPROXIMATELY 9.0% OF THE PROPERTY'S RENTAL INCOME FOR THE YEAR ENDED APRIL 30, 2025. MANAGEMENT FEE EXPENSE WAS 85,243 FOR THE YEAR ENDED APRIL 30, 2025. 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
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt03512400
IRS990/TotalAssetsGrp/BOYAmt03006375
IRS990/TotalAssetsGrp/EOYAmt03512400
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt088368
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0410283
IRS990/TotalFunctionalExpensesGrp/TotalAmt0498651
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt078720
IRS990/TotalLiabilitiesEOYAmt071885
IRS990/TotalLiabilitiesGrp/BOYAmt078720
IRS990/TotalLiabilitiesGrp/EOYAmt071885
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02927655
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03440515
IRS990/TotalProgramServiceExpensesAmt0410283
IRS990/TotalProgramServiceRevenueAmt0950076
IRS990/TotalRevenueGrp/ExclusionAmt061435
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0950076
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01011511
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03006375
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03512400
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVE CHATELAINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05074518524
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SCHAD INC
ReturnHeader/Filer/BusinessNameControlTxt0SCHA
ReturnHeader/Filer/EIN0237221931
ReturnHeader/Filer/PhoneNum05074518524
ReturnHeader/Filer/USAddress/AddressLine1Txt0311 N CEDAR
ReturnHeader/Filer/USAddress/CityNm0OWATONNA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055060
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271590985
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STRUSS CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02055 4TH AVENUE SE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OWATONNA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055060
ReturnHeader/PreparerPersonGrp/PhoneNum05074510611
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH M STRUSS
ReturnHeader/ReturnTs02025-10-14T09:45:37-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-05-01
ReturnHeader/TaxPeriodEndDt02025-04-30
ReturnHeader/TaxYr02024

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