Civic Intelligence

Schad Inc

990 • Fiscal year 2023 • EIN 23-7221931

May 01, 2022 to Apr 30, 2023 • Filed on Jan 30, 2024

Organization ProfileN/A
311 N CedarOwatonna, MN 55060

(507) 451-8524

Siviq Scores

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

Liabilities / Assets

45th percentile

0.02x

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

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

50th percentile

0.07x

Higher debt load relative to revenue than 50% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

79th percentile

35%

Higher net margin than 79% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

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

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

69th percentile

11%

Faster asset growth than 69% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

48th percentile

5.7%

Faster revenue growth than 48% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$2,627,630

Up $257,545 (+11%) from 2022

Net Assets

Up

$2,566,469

Up $300,208 (+13%) from 2022

Liabilities

Down

$61,161

Down $42,663 (-41%) from 2022

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin79th percentile

Revenue

Up

$856,913

Up $46,103 (+5.7%) from 2022

Expenses

Up

$556,705

Up $2,390 (+0.4%) from 2022

Net Income

Up

$300,208

Up $43,713 (+17%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth69th 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

2023

Assets$2,627,630
Liabilities$61,161
Net Assets$2,566,469
Open 2023 Filing

Operations Trend

Revenue Growth48th percentile

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

2023

Revenue$856,913
Expenses$556,705
Net Income$300,208
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2022 to Apr 30, 2023
Signed
Jan 30, 2024
Return Version
2022v5.0
Gross Receipts
$856,913
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$928,758$1,533,147▲ $604,389
Land, Buildings, and Equipment, Net$848,427$876,298▲ $27,871
Cash and Non-Interest-Bearing Accounts$573,460$194,746▼ $378,714
Prepaid Expenses and Deferred Charges$11,667$20,008▲ $8,341
Accounts Receivable$7,773$3,431▼ $4,342
Total Assets$2,370,085$2,627,630▲ $257,545
Liabilities
Accounts Payable and Accrued Expenses$72,481$31,473▼ $41,008
Other Liabilities$31,343$29,688▼ $1,655
Total Liabilities$103,824$61,161▼ $42,663
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,266,261$2,566,469▲ $300,208
Total Net Assets Fund Balance$2,266,261$2,566,469▲ $300,208
Total Liabilities and Net Assets / Fund Balance$2,370,085$2,627,630▲ $257,545

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$716,006$1,810,831$2,526,837
Other Land Buildings$118,013$156,434$274,447
Equipment-$80,873$80,873
Land$42,279-$42,279
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
Dave ChatelainePresident
Allen ArnoldDirector
Carol HarveyDirector
Karen DonovanDirector
Linda and Gary SiglerDirector
Mark CarverDirector
Norm and Vodi BalekDirector
Pat and Dan KenowDirector
Sandra WaltonDirector
Dan AppelManaging Age
Bonnie NguyenSecretary
Diane KaplanTreasurer
Greg EvansVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$854,242
Investment Income
$2,671
Other Revenue
$0
Change in Net Assets
$300,208
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$511,160
Salaries, Compensation, and Employee Benefits$45,545
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$74,700-$74,700
Occupancy$66,683--$66,683
Depreciation Depletion$62,219--$62,219
All Other Expenses$45,931--$45,931
Other Salaries and Wages$40,707--$40,707
Insurance$25,954--$25,954
Other Expenses$23,726--$23,726
Office Expenses$6,732--$6,732
Payroll Taxes$4,138--$4,138
Advertising$3,518--$3,518
Fees for Services Accounting-$2,750-$2,750
Fees for Services Legal$1,400--$1,400
Other Employee Benefits$700--$700
Total Functional Expenses$479,255$77,450$0$556,705
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$27,955
Prepaid Revenue$1,733
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 8.0% of the property's rental income for the year ended april 30, 2023. Management fee expense was 74,700 for the year ended april 30, 2023. 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
Address
311 N CEDAR, OWATONNA, MN 55060

Signing Officer

Name
Dave Chatelaine
Title
President
Signed
2024-01-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dave Chatelaine
Formed
1970
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
2

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/ReconcilationRevenueExpnssAmt0300208
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0854242
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0928758
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01533147
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0716006
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01810831
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02526837
IRS990ScheduleD/EquipmentGrp/DepreciationAmt080873
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt080873
IRS990ScheduleD/LandGrp/BookValueAmt042279
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt042279
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0118013
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0156434
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0274447
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt027955
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11733
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID REVENUE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0876298
IRS990ScheduleD/TotalLiabilityAmt029688
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROJECT IS MANAGED BY LIFE STYLE, INC. FOR A FEE OF APPROXIMATELY 8.0% OF THE PROPERTY'S RENTAL INCOME FOR THE YEAR ENDED APRIL 30, 2023. MANAGEMENT FEE EXPENSE WAS 74,700 FOR THE YEAR ENDED APRIL 30, 2023. 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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02370085
IRS990/TotalAssetsEOYAmt02627630
IRS990/TotalAssetsGrp/BOYAmt02370085
IRS990/TotalAssetsGrp/EOYAmt02627630
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt077450
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0479255
IRS990/TotalFunctionalExpensesGrp/TotalAmt0556705
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0103824
IRS990/TotalLiabilitiesEOYAmt061161
IRS990/TotalLiabilitiesGrp/BOYAmt0103824
IRS990/TotalLiabilitiesGrp/EOYAmt061161
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02266261
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02566469
IRS990/TotalProgramServiceExpensesAmt0479255
IRS990/TotalProgramServiceRevenueAmt0854242
IRS990/TotalRevenueGrp/ExclusionAmt02671
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0854242
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0856913
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02370085
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02627630
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVE CHATELAINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-01-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SCHAD INC
ReturnHeader/Filer/BusinessNameControlTxt0SCHA
ReturnHeader/Filer/EIN0237221931
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/PreparationDt02024-01-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH M STRUSS
ReturnHeader/ReturnTs02024-02-21T13:21:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DAVE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CHATELAINE
ReturnHeader/TaxPeriodBeginDt02022-05-01
ReturnHeader/TaxPeriodEndDt02023-04-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,627,630
Liabilities
$61,161
Net assets
$2,566,469
Revenue
$856,913
Expenses
$556,705
Net income
$300,208
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