Civic Intelligence

Somerset Place Association Inc

990 • Fiscal year 2016 • EIN 23-7321056

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 09, 2017

Organization ProfileWWW.SOMERSETPLACE.ORG
PO Box 940267Houston, TX 77094

(866) 844-3933

Siviq Scores

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

Liabilities / Assets

89th percentile

0.67x

Higher debt load relative to assets than 89% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

77th percentile

0.55x

Higher debt load relative to revenue than 77% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Net Margin

12th percentile

-22%

Higher net margin than 12% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

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.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Asset Growth

18th percentile

-6.7%

Faster asset growth than 18% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

49th percentile

2.0%

Faster revenue growth than 49% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$432,738

Down $31,293 (-6.7%) from 2015

Net Assets

Down

$142,167

Down $117,204 (-45%) from 2015

Liabilities

Up

$290,571

Up $85,911 (+42%) from 2015

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin12th percentile

Revenue

Up

$528,061

Up $10,189 (+2.0%) from 2015

Expenses

Up

$645,265

Up $207,778 (+47%) from 2015

Net Income

Down

-$117,204

Down $197,589 (-246%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2015: $464,031Liabilities 2015: $204,660Net Assets 2015: $259,3712015Assets 2016: $432,738Liabilities 2016: $290,571Net Assets 2016: $142,1672016Assets 2017: $384,533Liabilities 2017: $617,970Net Assets 2017: -$233,4372017Assets 2018: $220,469Liabilities 2018: $1,081,620Net Assets 2018: -$861,1512018Assets 2019: $92,163Liabilities 2019: $1,703,505Net Assets 2019: -$1,611,3422019Assets 2020: $354,618Liabilities 2020: $2,628,349Net Assets 2020: -$2,273,7312020Assets 2021: $356,367Liabilities 2021: $236,739Net Assets 2021: $119,6282021Assets 2022: $389,541Liabilities 2022: $161,801Net Assets 2022: $227,7402022Assets 2023: $745,605Liabilities 2023: $161,514Net Assets 2023: $584,0912023Assets 2024: $799,573Liabilities 2024: $2,066,191Net Assets 2024: -$1,266,6182024

Highlighted filing

2016

Assets$432,738
Liabilities$290,571
Net Assets$142,167
Open 2016 Filing

Operations Trend

Revenue Growth49th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $517,872Expenses 2015: $437,487Net Income 2015: $80,3852015Revenue 2016: $528,061Expenses 2016: $645,265Net Income 2016: -$117,2042016Revenue 2017: $563,616Expenses 2017: $939,220Net Income 2017: -$375,6042017Revenue 2018: $611,541Expenses 2018: $1,239,255Net Income 2018: -$627,7142018Revenue 2019: $654,443Expenses 2019: $1,404,634Net Income 2019: -$750,1912019Revenue 2020: $711,951Expenses 2020: $1,374,340Net Income 2020: -$662,3892020Revenue 2021: $610,603Expenses 2021: $601,233Net Income 2021: $9,3702021Revenue 2022: $619,493Expenses 2022: $592,063Net Income 2022: $27,4302022Revenue 2023: $910,771Expenses 2023: $549,234Net Income 2023: $361,5372023Revenue 2024: $919,157Expenses 2024: $633,388Net Income 2024: $285,7692024

Highlighted filing

2016

Revenue$528,061
Expenses$645,265
Net Income-$117,204
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 9, 2017
Return Version
2016v3.0
Gross Receipts
$528,061
Mission and Program Overview

Mission

To provide for maintenance, preservation and architectural control of the residence lots and common area, and to promote health, safety and welfare of the residents within the property.

Provide maintenance, preservation and architectual control of the residence lots and common area, and to promote health, safety and welfare of the residents within the property.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$86,641$429,307▲ $342,666
Savings and Temporary Cash Investments$374,134--
Rtn Earn Endowment Incm Other Fnds$259,371$142,167▼ $117,204
Prepaid Expenses and Deferred Charges$3,256$3,405▲ $149
Accounts Receivable-$26-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$464,031$432,738▼ $31,293
Liabilities
Deferred Revenue$190,495$269,158▲ $78,663
Accounts Payable and Accrued Expenses$11,075$18,233▲ $7,158
Other Liabilities$3,090$3,180▲ $90
Total Liabilities$204,660$290,571▲ $85,911
Net Assets / Fund Balance
Total Net Assets Fund Balance$259,371$142,167▼ $117,204
Total Liabilities and Net Assets / Fund Balance$464,031$432,738▼ $31,293
Compensation and Service Providers
Top Officer Pay67th percentile

Board Members and Trustees

NameTitle
Jim MucklePresident
Tim BundaVice President
Janice LittleDirector
Lee ConnSecretary
Jill MorellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$526,042
Investment Income
$2,019
Other Revenue
$0
Change in Net Assets
$-117,204

Audited Revenue Reconciliation

Revenue per Audited Statements
$528,061
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$528,061
Total Revenue per Form 990
$528,061
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$645,265
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
All Other Expenses$62,241--$62,241
Other Expenses$24,653--$24,653
Insurance$8,485--$8,485
Fees for Services Accounting-$8,101-$8,101
Fees for Services Legal-$968-$968
Total Functional Expenses$636,196$9,069$0$645,265

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$645,265
Total Expenses per Audited Statements$645,265
Total Expenses per Form 990$645,265
Expenses Not Reported on Financial Statements$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable to Owner$3,180
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, Part VI, Section A, line 3

“The association is governed by an uncompensated volunteer board of directors that are voted into office by the membership.”

Form 990, Part VI, Section A, line 6

“Membership is automatic upon purchase of a lot.”

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

“The board of directors are voted into office by the membership.”

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

“Tax return is submitted to the board for review before filing.”

Form 990, Part VI, Section C, line 19

“The association's governing documents are available for inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Somerset Place Associationinc
EIN
23-7321056
Phone
8668443933
Address
PO BOX 940267, HOUSTON, TX 77094

Signing Officer

Name
Jim Muckle
Title
President
Phone
8668443933
Signed
2017-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Muckle
Formed
1973
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Canady & Canady P C
Address
4707 INGERSOLL ST, HOUSTON, TX 77027
Preparer
D Jeff Canady CPA
Phone
7137831021
Raw XML Appendix326 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION IS GOVERNED BY AN UNCOMPENSATED VOLUNTEER BOARD OF DIRECTORS THAT ARE VOTED INTO OFFICE BY THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERSHIP IS AUTOMATIC UPON PURCHASE OF A LOT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS ARE VOTED INTO OFFICE BY THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TAX RETURN IS SUBMITTED TO THE BOARD FOR REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ASSOCIATION'S GOVERNING DOCUMENTS ARE AVAILABLE FOR INSPECTION UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
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IRS990/USAddress/ZIPCd077024
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.SOMERSETPLACE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JIM MUCKLE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08668443933
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOMERSET PLACE ASSOCIATIONINC
ReturnHeader/Filer/BusinessNameControlTxt0SOME
ReturnHeader/Filer/EIN0237321056
ReturnHeader/Filer/PhoneNum08668443933
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 940267
ReturnHeader/Filer/USAddress/CityNm0HOUSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077094
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B339D0FEFAC27AF36B796F8F6656BE54255CDA9B
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0B339D0FEFAC27AF36B796F8F6656BE54255CDA9B
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.11.244.241
ReturnHeader/FilingSecurityInformation/IPDt02017-11-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm011:48:28
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0760648208
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CANADY & CANADY P C
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04707 INGERSOLL ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOUSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077027
ReturnHeader/PreparerPersonGrp/PhoneNum07137831021
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0D JEFF CANADY CPA
ReturnHeader/ReturnTs02017-11-10T13:31:45-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$432,738
Liabilities
$290,571
Net assets
$142,167
Revenue
$528,061
Expenses
$645,265
Net income
-$117,204
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$2.07$1.27$0.92$0.63$0.29
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.16$0.58$0.91$0.55$0.36
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.16$0.23$0.62$0.59$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.36$0.24$0.12$0.61$0.60$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$2.63$2.27$0.71$1.37$0.66
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.09$1.70$1.61$0.65$1.40$0.75
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$1.08$0.86$0.61$1.24$0.63
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.62$0.23$0.56$0.94$0.38
2016Detailed filing. Detailed filing data is available for this year.$0.43$0.29$0.14$0.53$0.65$0.12
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.20$0.26$0.52$0.44$0.08