Civic Intelligence

Fairhaven Apartments Inc

990 • Fiscal year 2018 • EIN 23-7333862

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 09, 2019

455 St ClairLawrenceburg, IN 47025

(812) 537-5880

Siviq Scores

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

Liabilities / Assets

94th percentile

0.71x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)4 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

1.21x

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

2018 filings • 501(c)4 • <$500k nonprofits • Source year 2018

Net Margin

62nd percentile

8.5%

Higher net margin than 62% of similar nonprofits.

2018 filings • 501(c)4 • <$500k nonprofits • Source year 2018

Top Officer Pay

91st percentile

$8,745

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2018 filings • 501(c)4 • <$500k nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

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

Source year 2018

Revenue Growth

Score unavailable

No value available

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

Source year 2018

Assets

$397,084

No earlier filing loaded for comparison.

Net Assets

$114,338

No earlier filing loaded for comparison.

Liabilities

$282,746

No earlier filing loaded for comparison.

Revenue

$233,124

No earlier filing loaded for comparison.

Expenses

$213,328

No earlier filing loaded for comparison.

Net Income

$19,796

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2018: $397,084Liabilities 2018: $282,746Net Assets 2018: $114,3382018Assets 2019: $446,609Liabilities 2019: $264,551Net Assets 2019: $182,0582019Assets 2020: $408,575Liabilities 2020: $264,298Net Assets 2020: $144,2772020Assets 2021: $1,190,723Liabilities 2021: $242,676Net Assets 2021: $948,0472021Assets 2022: $1,758,767Liabilities 2022: $179,780Net Assets 2022: $1,578,9872022Assets 2023: $1,834,502Liabilities 2023: $115,300Net Assets 2023: $1,719,2022023Assets 2024: $1,754,796Liabilities 2024: $96,641Net Assets 2024: $1,658,1552024

Highlighted filing

2018

Assets$397,084
Liabilities$282,746
Net Assets$114,338

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $233,124Expenses 2018: $213,328Net Income 2018: $19,7962018Revenue 2019: $321,040Expenses 2019: $253,320Net Income 2019: $67,7202019Revenue 2020: $257,031Expenses 2020: $294,812Net Income 2020: -$37,7812020Revenue 2021: $1,082,294Expenses 2021: $278,524Net Income 2021: $803,7702021Revenue 2022: $923,518Expenses 2022: $292,578Net Income 2022: $630,9402022Revenue 2023: $563,385Expenses 2023: $423,170Net Income 2023: $140,2152023Revenue 2024: $346,607Expenses 2024: $407,654Net Income 2024: -$61,0472024

Highlighted filing

2018

Revenue$233,124
Expenses$213,328
Net Income$19,796
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 9, 2019
Return Version
2018v3.1
Gross Receipts
$233,124
Mission and Program Overview

Mission

The mission of fairhaven apartments, inc. Is to provide and operate rental housing and related facilities that meet the special needs and living requirements of all eligible occupants, as determined by the rural economic and community development agency of the farmers home

To provide affordable rental housing arrangements for low income senior citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$343,176$320,178▼ $22,998
Savings and Temporary Cash Investments$56,012$53,716▼ $2,296
Cash and Non-Interest-Bearing Accounts$8,930$23,190▲ $14,260
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$408,118$397,084▼ $11,034
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$305,380$271,643▼ $33,737
Accounts Payable and Accrued Expenses$8,196$11,103▲ $2,907
Total Liabilities$313,576$282,746▼ $30,830
Net Assets / Fund Balance
Unrestricted Net Assets$49,723$69,590▲ $19,867
Temporarily Rstr Net Assets$44,819$44,748▼ $71
Total Net Assets Fund Balance$94,542$114,338▲ $19,796
Total Liabilities and Net Assets / Fund Balance$408,118$397,084▼ $11,034

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$239,335$1,117,046$1,356,381
Other Land Buildings$13,343$131,250$144,593
Land$67,500-$67,500
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Sherri HornAdministrative AssistantPT$8,745$8,745
Charles FreeseProperty ManagerPT$3,500$3,500

Board Members and Trustees

NameTitle
Gerald L KingPresident
Charles F McnimeryVice President
John KimeBoard Member
Roy CromerBoard Member
Joan ZollerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$33,707
Program Service Revenue
$199,404
Investment Income
$13
Other Revenue
$0
All Other Contributions
$33,707
Change in Net Assets
$19,796
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$194,990
Salaries, Compensation, and Employee Benefits$18,338
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$33,408--$33,408
Insurance$17,618--$17,618
Current Officers, Directors, Trustees, and Key Employees-$12,245-$12,245
Office Expenses$7,468--$7,468
Fees for Services Other$5,412--$5,412
Other Salaries and Wages$4,500--$4,500
Interest$2,877--$2,877
Fees for Services Accounting$1,626--$1,626
Payroll Taxes$1,593--$1,593
Travel$648--$648
Other Expenses$540--$540
Advertising$284--$284
Fees for Services Legal$125--$125
Total Functional Expenses$201,083$12,245$0$213,328
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

At the first board meeting following the completion of the organization's 990, copies of the return are distributed to all board members so they can review it before it is filed.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization's governing documents and audited financial statements are made available to the public. The records are kept in the office and appointments can be made to come and view them.

Filing and Contact Details

Filer

Filer Name
Fairhaven Apartments Inc
EIN
23-7333862
Phone
8125375880
Address
455 ST CLAIR, LAWRENCEBURG, IN 47025

Signing Officer

Name
Joan Zoller
Title
Secretary
Signed
2019-10-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joan Zoller
Formed
1974
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Munninghoff Lange & Company
Address
231 Scott Boulevard, Covington, KY 41011
Preparer
Donald F Heeb CPA
Phone
8596552300
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The organization's calendar year tax returns for the years 2016 through 2018 are open for income tax audits.

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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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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01356381
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt067500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt067500
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt013343
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0131250
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0144593
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S CALENDAR YEAR TAX RETURNS FOR THE YEARS 2016 THROUGH 2018 ARE OPEN FOR INCOME TAX AUDITS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0320178
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AT THE FIRST BOARD MEETING FOLLOWING THE COMPLETION OF THE ORGANIZATION'S 990, COPIES OF THE RETURN ARE DISTRIBUTED TO ALL BOARD MEMBERS SO THEY CAN REVIEW IT BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC. THE RECORDS ARE KEPT IN THE OFFICE AND APPOINTMENTS CAN BE MADE TO COME AND VIEW THEM.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt044819
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt044748
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0408118
IRS990/TotalAssetsEOYAmt0397084
IRS990/TotalAssetsGrp/BOYAmt0408118
IRS990/TotalAssetsGrp/EOYAmt0397084
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt033707
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012245
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0201083
IRS990/TotalFunctionalExpensesGrp/TotalAmt0213328
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0313576
IRS990/TotalLiabilitiesEOYAmt0282746
IRS990/TotalLiabilitiesGrp/BOYAmt0313576
IRS990/TotalLiabilitiesGrp/EOYAmt0282746
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt094542
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0114338
IRS990/TotalProgramServiceExpensesAmt0201083
IRS990/TotalProgramServiceRevenueAmt0199404
IRS990/TotalReportableCompFromOrgAmt012245
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0199417
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0233124
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0408118
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0397084
IRS990/TravelGrp/ProgramServicesAmt0648
IRS990/TravelGrp/TotalAmt0648
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt049723
IRS990/UnrestrictedNetAssetsGrp/EOYAmt069590
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0455 ST CLAIR 112
IRS990/USAddress/CityNm0LAWRENCEBURG
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047025
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOAN ZOLLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FAIRHAVEN APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0FAIR
ReturnHeader/Filer/EIN0237333862
ReturnHeader/Filer/PhoneNum08125375880
ReturnHeader/Filer/USAddress/AddressLine1Txt0455 ST CLAIR
ReturnHeader/Filer/USAddress/CityNm0LAWRENCEBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047025
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0311070008
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Munninghoff Lange & Company
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0231 Scott Boulevard
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Covington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd041011
ReturnHeader/PreparerPersonGrp/PhoneNum08596552300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Donald F Heeb CPA
ReturnHeader/ReturnTs02019-10-09T10:28:35-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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