Civic Intelligence

Humboldt Homes Ltd

990 • Fiscal year 2017 • EIN 23-7409470

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 09, 2018

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

0.55x

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

2017 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

84th percentile

1.29x

Higher debt load relative to revenue than 84% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2017

Net Margin

35th percentile

0.5%

Higher net margin than 35% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2017 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2017

Asset Growth

21st percentile

-3.5%

Faster asset growth than 21% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

60th percentile

6.1%

Faster revenue growth than 60% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$1,119,236

Down $40,310 (-3.5%) from 2016

Net Assets

Up

$500,345

Up $2,478 (+0.5%) from 2016

Liabilities

Down

$618,891

Down $42,788 (-6.5%) from 2016

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin35th percentile

Revenue

Up

$479,256

Up $27,388 (+6.1%) from 2016

Expenses

Up

$476,778

Up $38,838 (+8.9%) from 2016

Net Income

Down

$2,478

Down $11,450 (-82%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

2017

Assets$1,119,236
Liabilities$618,891
Net Assets$500,345
Open 2017 Filing

Operations Trend

Revenue Growth60th percentile

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

2017

Revenue$479,256
Expenses$476,778
Net Income$2,478
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 9, 2018
Return Version
2017v2.2
Gross Receipts
$479,256
Mission and Program Overview

Mission

Low income housing for the elderly and handicapped.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$923,232$926,857▲ $3,625
Cash and Non-Interest-Bearing Accounts$171,117$115,998▼ $55,119
Prepaid Expenses and Deferred Charges$19,735$28,304▲ $8,569
Savings and Temporary Cash Investments$8,748$8,760▲ $12
Accounts Receivable$2,065$1,969▼ $96
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$1,159,546$1,119,236▼ $40,310
Other Assets Total$34,649$37,348▲ $2,699
Liabilities
Mortgage Notes Payable Secured by Investment Property$596,265$552,174▼ $44,091
Other Liabilities$34,649$37,348▲ $2,699
Accounts Payable and Accrued Expenses$30,765$29,369▼ $1,396
Total Liabilities$661,679$618,891▼ $42,788
Net Assets / Fund Balance
Unrestricted Net Assets$497,867$500,345▲ $2,478
Total Net Assets Fund Balance$497,867$500,345▲ $2,478
Total Liabilities and Net Assets / Fund Balance$1,159,546$1,119,236▼ $40,310

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$740,091$2,058,962$2,799,053
Equipment$114,196$252,524$366,720
Land$72,570-$72,570
Compensation and Service Providers
Top Officer Pay58th 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
$478,894
Investment Income
$362
Other Revenue
$0
Change in Net Assets
$2,478

Audited Revenue Reconciliation

Revenue per Audited Statements
$479,256
Total Revenue per Audited Statements
$479,256
Total Revenue per Form 990
$479,256
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$429,571
Salaries, Compensation, and Employee Benefits$47,207
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$105,934--$105,934
Depreciation Depletion$94,811--$94,811
Fees for Services Management-$48,633-$48,633
Other Salaries and Wages$43,698--$43,698
Interest$32,352--$32,352
Insurance$24,139--$24,139
All Other Expenses$7,974--$7,974
Fees for Services Legal-$6,999-$6,999
Other Expenses$6,944--$6,944
Payroll Taxes$3,509--$3,509
Advertising$3,118--$3,118
Office Expenses$112--$112
Total Functional Expenses$421,146$55,632$0$476,778

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$476,778
Total Expenses per Audited Statements$476,778
Total Expenses per Form 990$476,778
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits Payable$37,348
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
Yes
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
2018-04-09
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, 2017 and 2016, 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, 2017 and 2016. 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/PayrollTaxesGrp/ProgramServicesAmt03509
IRS990/PayrollTaxesGrp/TotalAmt03509
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt019735
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt028304
IRS990/PrincipalOfficerNm0Ron Rasmussen
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0Laudry
IRS990/ProgramServiceRevenueGrp/Desc1Rent and rental Assistanc
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06170
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1472724
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06170
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1472724
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0298
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0437666
IRS990/PYProgramServiceRevenueAmt0451570
IRS990/PYRevenuesLessExpensesAmt013928
IRS990/PYSalariesCompEmpBnftPaidAmt0274
IRS990/PYTotalExpensesAmt0437940
IRS990/PYTotalRevenueAmt0451868
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt02478
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0478894
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08748
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08760
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0740091
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02058962
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02799053
IRS990ScheduleD/EquipmentGrp/BookValueAmt0114196
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0252524
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0366720
IRS990ScheduleD/ExpensesSubtotalAmt0476778
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt072570
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt072570
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt037348
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Security Deposits Payable
IRS990ScheduleD/RevenueSubtotalAmt0479256
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, 2017 and 2016, 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, 2017 and 2016. 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/TotalBookValueLandBuildingsAmt0926857
IRS990ScheduleD/TotalExpensesPerForm990Amt0476778
IRS990ScheduleD/TotalLiabilityAmt037348
IRS990ScheduleD/TotalRevenuePerForm990Amt0479256
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0479256
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0476778
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/TotalAssetsBOYAmt01159546
IRS990/TotalAssetsEOYAmt01119236
IRS990/TotalAssetsGrp/BOYAmt01159546
IRS990/TotalAssetsGrp/EOYAmt01119236
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt055632
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0421146
IRS990/TotalFunctionalExpensesGrp/TotalAmt0476778
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0661679
IRS990/TotalLiabilitiesEOYAmt0618891
IRS990/TotalLiabilitiesGrp/BOYAmt0661679
IRS990/TotalLiabilitiesGrp/EOYAmt0618891
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0497867
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0500345
IRS990/TotalProgramServiceExpensesAmt0421146
IRS990/TotalProgramServiceRevenueAmt0478894
IRS990/TotalRevenueGrp/ExclusionAmt0362
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0478894
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0479256
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01159546
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01119236
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0497867
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0500345
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ron Rasmussen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-09
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
ReturnHeader/Filer/USAddress/ZIPCd050548
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391894710
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TP ANDERSON & COMPANY PC CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0528 Sumner Avenue

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,119,236
Liabilities
$618,891
Net assets
$500,345
Revenue
$479,256
Expenses
$476,778
Net income
$2,478
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)4 • $1M-$5M nonprofits