Civic Intelligence

Housing of Olivia Inc

EIN 23-7329242 • 501(c)4 • Montevideo, MN

Profile

Provides affordable housing for the elderly and low-income individuals

540 1st StMontevideo, MN 56265

n/A

Siviq Scores

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

Liabilities / Assets

96th percentile

1.02x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

2.53x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Net Margin

21st percentile

-11%

Higher net margin than 21% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

501(c)4 • $500k-$1M nonprofits • Source year 2024

Asset Growth

25th percentile

-4.7%

Faster asset growth than 25% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

48th percentile

4.7%

Faster revenue growth than 48% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$614,979

Down $30,549 (-4.7%) from 2023

Liabilities

Down

$624,720

Down $4,463 (-0.7%) from 2023

Net Assets

Down

-$9,741

Down $26,086 (-160%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin21st percentile

Revenue

Up

$247,243

Up $11,043 (+4.7%) from 2023

Expenses

Down

$273,329

Down $12,615 (-4.4%) from 2023

Net Income

Up

-$26,086

Up $23,658 (+48%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth25th percentile

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

$1.0M$500K$0-$500KAssets 2010: $243,775Liabilities 2010: $200,516Net Assets 2010: $43,2592010Assets 2011: $851,893Liabilities 2011: $771,772Net Assets 2011: $80,1212011Assets 2012: $882,199Liabilities 2012: $777,295Net Assets 2012: $104,9042012Assets 2013: $870,452Liabilities 2013: $734,492Net Assets 2013: $135,9602013Assets 2014: $856,216Liabilities 2014: $698,673Net Assets 2014: $157,5432014Assets 2015: $869,186Liabilities 2015: $693,346Net Assets 2015: $175,8402015Assets 2016: $859,609Liabilities 2016: $683,769Net Assets 2016: $175,8402016Assets 2017: $797,018Liabilities 2017: $676,233Net Assets 2017: $120,7852017Assets 2018: $778,095Liabilities 2018: $666,777Net Assets 2018: $111,3182018Assets 2019: $739,458Liabilities 2019: $656,404Net Assets 2019: $83,0542019Assets 2020: $714,371Liabilities 2020: $648,076Net Assets 2020: $66,2952020Assets 2021: $730,303Liabilities 2021: $628,403Net Assets 2021: $101,9002021Assets 2022: $686,142Liabilities 2022: $620,053Net Assets 2022: $66,0892022Assets 2023: $645,528Liabilities 2023: $629,183Net Assets 2023: $16,3452023Assets 2024: $614,979Liabilities 2024: $624,720Net Assets 2024: -$9,7412024

Highlighted filing

2024

Assets$614,979
Liabilities$624,720
Net Assets-$9,741
Open 2024 Filing

Operations Trend

Revenue Growth48th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$300K$200K$100K$0-$100KExpenses 2010: $69,8212010Expenses 2011: $67,4832011Expenses 2012: $66,8812012Expenses 2013: $65,9592013Revenue 2014: $258,831Expenses 2014: $237,248Net Income 2014: $21,5832014Revenue 2015: $256,981Expenses 2015: $238,684Net Income 2015: $18,2972015Revenue 2016: $267,903Expenses 2016: $267,903Net Income 2016: $02016Revenue 2017: $250,255Expenses 2017: $305,310Net Income 2017: -$55,0552017Revenue 2018: $277,323Expenses 2018: $286,790Net Income 2018: -$9,4672018Revenue 2019: $277,903Expenses 2019: $303,011Net Income 2019: -$25,1082019Revenue 2020: $257,942Expenses 2020: $274,701Net Income 2020: -$16,7592020Revenue 2021: $312,709Expenses 2021: $277,104Net Income 2021: $35,6052021Revenue 2022: $283,036Expenses 2022: $318,847Net Income 2022: -$35,8112022Revenue 2023: $236,200Expenses 2023: $285,944Net Income 2023: -$49,7442023Revenue 2024: $247,243Expenses 2024: $273,329Net Income 2024: -$26,0862024

Highlighted filing

2024

Revenue$247,243
Expenses$273,329
Net Income-$26,086
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$614,979
Liabilities
$624,720
Net assets
-$9,741
Revenue
$247,243
Expenses
$273,329
Net income
-$26,086
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.15$6.25$0.10$2.47$2.73$0.26
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.46$6.29$0.16$2.36$2.86$0.50
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.86$6.20$0.66$2.83$3.19$0.36
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.30$6.28$1.02$3.13$2.77$0.36
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.14$6.48$0.66$2.58$2.75$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.39$6.56$0.83$2.78$3.03$0.25
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.78$6.67$1.11$2.77$2.87$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.97$6.76$1.21$2.50$3.05$0.55
2016Detailed filing. Detailed filing data is available for this year.$8.60$6.84$1.76$2.68$2.68$0.00
2015Detailed filing. Detailed filing data is available for this year.$8.69$6.93$1.76$2.57$2.39$0.18
2014Detailed filing. Detailed filing data is available for this year.$8.56$6.99$1.58$2.59$2.37$0.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.70$7.34$1.36$0.66
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.82$7.77$1.05$0.67
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.52$7.72$0.80$0.67
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.44$2.01$0.43$0.70
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Dec 12, 2022
Return Version
2021v4.0
Gross Receipts
$283,036
Mission and Program Overview

Mission

Provides affordable housing for the elderly and low-income individuals

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$673,509$650,435▼ $23,074
Accounts Receivable$7,999$11,810▲ $3,811
Cash and Non-Interest-Bearing Accounts$20,873$1,100▼ $19,773
Prepaid Expenses and Deferred Charges$419$372▼ $47
Total Assets$730,303$686,142▼ $44,161
Other Assets Total$27,503$22,425▼ $5,078
Liabilities
Mortgage Notes Payable Secured by Investment Property$609,061$594,794▼ $14,267
Accounts Payable and Accrued Expenses$12,462$18,293▲ $5,831
Other Liabilities$6,880$6,966▲ $86
Total Liabilities$628,403$620,053▼ $8,350
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$101,900$66,089▼ $35,811
Total Net Assets Fund Balance$101,900$66,089▼ $35,811
Total Liabilities and Net Assets / Fund Balance$730,303$686,142▼ $44,161

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$567,607$854,246$1,421,853
Other Land Buildings$75,736-$75,736
Land$7,092-$7,092
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Aaron WaltonPresident
Cathalina ZunigaDirector
Charles RidlerDirector
James LarsonDirector
Larry LeeDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$154,458
Program Service Revenue
$121,279
Investment Income
$28
Other Revenue
$7,271
Change in Net Assets
$-35,811

Audited Revenue Reconciliation

Revenue per Audited Statements
$283,036
Total Revenue per Audited Statements
$283,036
Total Revenue per Form 990
$283,036
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$265,695
Salaries, Compensation, and Employee Benefits$53,152
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$65,037--$65,037
Other Salaries and Wages$29,855$18,109-$47,964
Depreciation Depletion$32,125--$32,125
Interest$28,924--$28,924
All Other Expenses$16,351$485-$16,836
Other Expenses$9,200$30,720-$9,200
Office Expenses-$8,178-$8,178
Fees for Services Accounting-$6,820-$6,820
Other Employee Benefits$3,720--$3,720
Payroll Taxes$1,468--$1,468
Fees for Services Legal-$665-$665
Total Functional Expenses$253,870$64,977$0$318,847

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$318,847
Total Expenses per Audited Statements$318,847
Total Expenses per Form 990$318,847
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
Tenant Security Deposits$6,966
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization hired an independent management company, van binsbergen & associates, llc. To perform day to day functions.”

Form 990, Page 6, Part VI, Line 7B

“On-going operations are handled by the management company. The board of directors meets on a regular basis to review operations of the property. Decisions regarding major expenditures, changes in policies/procedures and other extraordinary issues are made by the board after obtaining suggestions and recommendations from management.”

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

“The 990 is prepared by a professional accounting firm that has expertise in such matters. The board of directors is comprised of volunteers with no specific accounting or tax experience. The board relies on the data prepared by the accounting firm, so no formal board review is conducted. Unless specific concerns are raised, the board will approve the 990 as presented.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Housing of Olivia Inc
EIN
23-7329242
Phone
3202696640
Address
540 1ST ST, MONTEVIDEO, MN 56265

Signing Officer

Name
Aaron Walton
Title
President
Phone
3202696640
Signed
2022-12-12

Organization Details

Principal Officer
Aaron Walton
Formed
1970
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Hinrichs & Associates Ltd
Address
1000 SHELARD PKWY STE 110, MINNEAPOLIS, MN 55426
Preparer
Anthony J Hinrichs
Phone
9525428010
Raw XML Appendix334 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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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0854246
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01421853
IRS990ScheduleD/ExpensesSubtotalAmt0318847
IRS990ScheduleD/LandGrp/BookValueAmt07092
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt07092
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt075736
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt075736
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06966
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt0650435
IRS990ScheduleD/TotalExpensesPerForm990Amt0318847
IRS990ScheduleD/TotalLiabilityAmt06966
IRS990ScheduleD/TotalRevenuePerForm990Amt0283036
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HIRED AN INDEPENDENT MANAGEMENT COMPANY, VAN BINSBERGEN & ASSOCIATES, LLC. TO PERFORM DAY TO DAY FUNCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ON-GOING OPERATIONS ARE HANDLED BY THE MANAGEMENT COMPANY. THE BOARD OF DIRECTORS MEETS ON A REGULAR BASIS TO REVIEW OPERATIONS OF THE PROPERTY. DECISIONS REGARDING MAJOR EXPENDITURES, CHANGES IN POLICIES/PROCEDURES AND OTHER EXTRAORDINARY ISSUES ARE MADE BY THE BOARD AFTER OBTAINING SUGGESTIONS AND RECOMMENDATIONS FROM MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS PREPARED BY A PROFESSIONAL ACCOUNTING FIRM THAT HAS EXPERTISE IN SUCH MATTERS. THE BOARD OF DIRECTORS IS COMPRISED OF VOLUNTEERS WITH NO SPECIFIC ACCOUNTING OR TAX EXPERIENCE. THE BOARD RELIES ON THE DATA PREPARED BY THE ACCOUNTING FIRM, SO NO FORMAL BOARD REVIEW IS CONDUCTED. UNLESS SPECIFIC CONCERNS ARE RAISED, THE BOARD WILL APPROVE THE 990 AS PRESENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0686142
IRS990/TotalAssetsGrp/BOYAmt0730303
IRS990/TotalAssetsGrp/EOYAmt0686142
IRS990/TotalCompGreaterThan150KInd0false
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt064977
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0253870
IRS990/TotalFunctionalExpensesGrp/TotalAmt0318847
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0628403
IRS990/TotalLiabilitiesEOYAmt0620053
IRS990/TotalLiabilitiesGrp/BOYAmt0628403
IRS990/TotalLiabilitiesGrp/EOYAmt0620053
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0101900
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt066089
IRS990/TotalProgramServiceExpensesAmt0253870
IRS990/TotalProgramServiceRevenueAmt0121279
IRS990/TotalRevenueGrp/ExclusionAmt028
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0128550
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0283036
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0730303
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0686142
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0801 EAST LINCOLN AVE
IRS990/USAddress/CityNm0OLIVIA
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056277
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/PersonNm0AARON WALTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03202696640
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-12-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOUSING OF OLIVIA INC
ReturnHeader/Filer/BusinessNameControlTxt0HOUS
ReturnHeader/Filer/EIN0237329242
ReturnHeader/Filer/PhoneNum03202696640
ReturnHeader/Filer/USAddress/AddressLine1Txt0540 1ST ST
ReturnHeader/Filer/USAddress/CityNm0MONTEVIDEO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056265
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411629155
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HINRICHS & ASSOCIATES LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01000 SHELARD PKWY STE 110
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055426
ReturnHeader/PreparerPersonGrp/PhoneNum09525428010
ReturnHeader/PreparerPersonGrp/PreparationDt02023-01-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANTHONY J HINRICHS
ReturnHeader/ReturnTs02023-01-12T11:06:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0AARON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WALTON
ReturnHeader/TaxPeriodBeginDt02021-10-01
ReturnHeader/TaxPeriodEndDt02022-09-30
ReturnHeader/TaxYr02021

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