Civic Intelligence

Humboldt Homes Ltd

990 • Fiscal year 2016 • EIN 23-7409470

Jan 01, 2016 to Dec 31, 2016 • Filed on May 10, 2017

Organization ProfileN/A
1107 19 NHumboldt, IA 50548

(515) 332-2020

Siviq Scores

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

Liabilities / Assets

86th percentile

0.57x

Higher debt load relative to assets than 86% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

85th percentile

1.46x

Higher debt load relative to revenue than 85% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Net Margin

42nd percentile

3.1%

Higher net margin than 42% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

59th percentile

$0

Higher top officer pay than 59% of similar nonprofits.

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

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

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

Source year 2016

Revenue Growth

Score unavailable

No value available

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

Source year 2016

Balance Sheet
Liabilities / Assets86th percentile

Assets

$1,159,546

No earlier filing loaded for comparison.

Net Assets

$497,867

No earlier filing loaded for comparison.

Liabilities

$661,679

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin42nd percentile

Revenue

$451,868

No earlier filing loaded for comparison.

Expenses

$437,940

No earlier filing loaded for comparison.

Net Income

$13,928

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0Assets 2016: $1,159,546Liabilities 2016: $661,679Net Assets 2016: $497,8672016Assets 2017: $1,119,236Liabilities 2017: $618,891Net Assets 2017: $500,3452017Assets 2018: $1,071,694Liabilities 2018: $575,724Net Assets 2018: $495,9702018Assets 2019: $1,026,271Liabilities 2019: $501,995Net Assets 2019: $524,2762019Assets 2020: $1,133,569Liabilities 2020: $453,361Net Assets 2020: $680,2082020Assets 2021: $1,333,659Liabilities 2021: $410,741Net Assets 2021: $922,9182021Assets 2022: $1,250,943Liabilities 2022: $363,783Net Assets 2022: $887,1602022Assets 2023: $1,242,467Liabilities 2023: $318,752Net Assets 2023: $923,7152023Assets 2024: $1,198,692Liabilities 2024: $269,941Net Assets 2024: $928,7512024

Highlighted filing

2016

Assets$1,159,546
Liabilities$661,679
Net Assets$497,867
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$800K$600K$400K$200K$0-$200KRevenue 2016: $451,868Expenses 2016: $437,940Net Income 2016: $13,9282016Revenue 2017: $479,256Expenses 2017: $476,778Net Income 2017: $2,4782017Revenue 2018: $512,428Expenses 2018: $516,803Net Income 2018: -$4,3752018Revenue 2019: $534,428Expenses 2019: $506,122Net Income 2019: $28,3062019Revenue 2020: $651,133Expenses 2020: $495,201Net Income 2020: $155,9322020Revenue 2021: $744,795Expenses 2021: $502,085Net Income 2021: $242,7102021Revenue 2022: $550,486Expenses 2022: $586,244Net Income 2022: -$35,7582022Revenue 2023: $627,187Expenses 2023: $590,632Net Income 2023: $36,5552023Revenue 2024: $610,450Expenses 2024: $605,414Net Income 2024: $5,0362024

Highlighted filing

2016

Revenue$451,868
Expenses$437,940
Net Income$13,928
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 10, 2017
Return Version
2016v3.0
Gross Receipts
$451,868
Mission and Program Overview

Mission

Low income housing for the elderly and handicapped.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$963,734$923,232▼ $40,502
Cash and Non-Interest-Bearing Accounts$160,643$171,117▲ $10,474
Prepaid Expenses and Deferred Charges$18,292$19,735▲ $1,443
Savings and Temporary Cash Investments$6,830$8,748▲ $1,918
Accounts Receivable$327$2,065▲ $1,738
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-
Total Assets$1,182,305$1,159,546▼ $22,759
Other Assets Total$32,479$34,649▲ $2,170
Liabilities
Mortgage Notes Payable Secured by Investment Property$639,982$596,265▼ $43,717
Other Liabilities$32,479$34,649▲ $2,170
Accounts Payable and Accrued Expenses$25,905$30,765▲ $4,860
Total Liabilities$698,366$661,679▼ $36,687
Net Assets / Fund Balance
Unrestricted Net Assets$483,939$497,867▲ $13,928
Total Net Assets Fund Balance$483,939$497,867▲ $13,928
Total Liabilities and Net Assets / Fund Balance$1,182,305$1,159,546▼ $22,759

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$758,111$1,989,862$2,747,973
Equipment$92,551$226,813$319,364
Land$72,570-$72,570
Compensation and Service Providers
Top Officer Pay59th percentile

Board Members and Trustees

NameTitle
Ron RasmussenPresident
James KirpatrickVice President
Craig MalloyDirector
Ed TimmDirector
Ken BadeDirector
Merlin GraafDirector
Sue BeachDirector
Kirk WhittleseySecretary
Nancy JensenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$451,570
Investment Income
$298
Other Revenue
$0
Change in Net Assets
$13,928

Audited Revenue Reconciliation

Revenue per Audited Statements
$451,868
Total Revenue per Audited Statements
$451,868
Total Revenue per Form 990
$451,868
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$437,666
Salaries, Compensation, and Employee Benefits$274
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$93,782--$93,782
Depreciation Depletion$87,288--$87,288
Fees for Services Management-$45,440-$45,440
Interest$30,748--$30,748
Insurance$20,369--$20,369
Other Expenses$14,017--$14,017
All Other Expenses$11,021--$11,021
Advertising$5,981--$5,981
Fees for Services Legal-$5,679-$5,679
Payroll Taxes$274--$274
Office Expenses$113--$113
Total Functional Expenses$386,821$51,119$0$437,940

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$437,940
Total Expenses per Audited Statements$437,940
Total Expenses per Form 990$437,940
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
Lobbying 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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits Payable$34,646
Rounding$3
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
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Murphy Management is in charge of the daily management of the apartments.”

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

“The return is reviewed by our manager for accuracy.”

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

“The organizations governing documents and financial statements are available for the manager upon request.”

Filing and Contact Details

Filer

Filer Name
Humboldt Homes Ltd
EIN
23-7409470
Phone
5153322020
Address
1107 19 N, Humboldt, IA 50548

Signing Officer

Name
Ron Rasmussen
Title
President
Signed
2017-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Rasmussen
Formed
1975
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Tp Anderson & Company Pc Cpas
Address
528 Sumner Avenue, HUMBOLDT, IA 50548-0509
Preparer
Steven D Hutchinson
Phone
5153323466
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Generally accepted accounting principles impose a threshold for determining when an income tax benefit can be recognized. The threshold for financial statement reporting is generally higher than the threshold imposed for claiming deductions in income tax returns. As of December 31, 2016 and 2015, the Company had not identified any uncertain income tax positions that would give rise to the recognition of income tax assets or liabilities under the generally accepted acounting principles threshold. Because no uncertain income tax positions have been identified, no accrued interest or penalties have been accrued as of December 31, 2016 and 2015. The Company files income tax returns in the U.S. federal jurisdiction. No returns have been subject to audit in the last three years and the statute of limitations for federal returns is generally three years. Management continues to monitor changes in tax law and new authoritative rulings for possibe effects on the Company.”

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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt019735
IRS990/PrincipalOfficerNm0Ron Rasmussen
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0Laudry
IRS990/ProgramServiceRevenueGrp/Desc1Rent and rental Assistanc
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04644
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1446926
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04644
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1446926
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0165
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0411332
IRS990/PYProgramServiceRevenueAmt0454344
IRS990/PYRevenuesLessExpensesAmt043093
IRS990/PYSalariesCompEmpBnftPaidAmt084
IRS990/PYTotalExpensesAmt0411416
IRS990/PYTotalRevenueAmt0454509
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt013928
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0451570
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06830
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08748
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0758111
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01989862
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02747973
IRS990ScheduleD/EquipmentGrp/BookValueAmt092551
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0226813
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0319364
IRS990ScheduleD/ExpensesSubtotalAmt0437940
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt072570
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt072570
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt134646
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Security Deposits Payable
IRS990ScheduleD/RevenueSubtotalAmt0451868
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Generally accepted accounting principles impose a threshold for determining when an income tax benefit can be recognized. The threshold for financial statement reporting is generally higher than the threshold imposed for claiming deductions in income tax returns. As of December 31, 2016 and 2015, the Company had not identified any uncertain income tax positions that would give rise to the recognition of income tax assets or liabilities under the generally accepted acounting principles threshold. Because no uncertain income tax positions have been identified, no accrued interest or penalties have been accrued as of December 31, 2016 and 2015. The Company files income tax returns in the U.S. federal jurisdiction. No returns have been subject to audit in the last three years and the statute of limitations for federal returns is generally three years. Management continues to monitor changes in tax law and new authoritative rulings for possibe effects on the Company.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0923232
IRS990ScheduleD/TotalExpensesPerForm990Amt0437940
IRS990ScheduleD/TotalLiabilityAmt034649
IRS990ScheduleD/TotalRevenuePerForm990Amt0451868
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0451868
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0437940
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Murphy Management is in charge of the daily management of the apartments.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The return is reviewed by our manager for accuracy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organizations governing documents and financial statements are available for the manager upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01182305
IRS990/TotalAssetsEOYAmt01159546
IRS990/TotalAssetsGrp/BOYAmt01182305
IRS990/TotalAssetsGrp/EOYAmt01159546
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt051119
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0386821
IRS990/TotalFunctionalExpensesGrp/TotalAmt0437940
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0698366
IRS990/TotalLiabilitiesEOYAmt0661679
IRS990/TotalLiabilitiesGrp/BOYAmt0698366
IRS990/TotalLiabilitiesGrp/EOYAmt0661679
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0483939
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0497867
IRS990/TotalProgramServiceExpensesAmt0386821
IRS990/TotalProgramServiceRevenueAmt0451570
IRS990/TotalRevenueGrp/ExclusionAmt0298
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0451570
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0451868
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01182305
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01159546
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0483939
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0497867
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01204 15th St N
IRS990/USAddress/CityNm0Humboldt
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050548
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ron Rasmussen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Humboldt Homes Ltd
ReturnHeader/Filer/BusinessNameControlTxt0HUMB
ReturnHeader/Filer/EIN0237409470
ReturnHeader/Filer/PhoneNum05153322020
ReturnHeader/Filer/USAddress/AddressLine1Txt01107 19 N
ReturnHeader/Filer/USAddress/CityNm0Humboldt
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,159,546
Liabilities
$661,679
Net assets
$497,867
Revenue
$451,868
Expenses
$437,940
Net income
$13,928
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.20$0.27$0.93$0.61$0.61$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.24$0.32$0.92$0.63$0.59$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.25$0.36$0.89$0.55$0.59$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.33$0.41$0.92$0.74$0.50$0.24
2020Detailed filing. Detailed filing data is available for this year.$1.13$0.45$0.68$0.65$0.50$0.16
2019Detailed filing. Detailed filing data is available for this year.$1.03$0.50$0.52$0.53$0.51$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.07$0.58$0.50$0.51$0.52$0.00
2017Detailed filing. Detailed filing data is available for this year.$1.12$0.62$0.50$0.48$0.48$0.00
2016Detailed filing. Detailed filing data is available for this year.$1.16$0.66$0.50$0.45$0.44$0.01