Civic Intelligence

Farrell-Bell Senior Housing Apartments Inc.

990 • Fiscal year 2019 • EIN 26-1837410

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 15, 2020

4001 North Franklin RoadIndianapolis, IN 46226

(317) 542-8200

Siviq Scores

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

Liabilities / Assets

96th percentile

1.41x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

13.70x

Higher debt load relative to revenue than 99% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

7th percentile

-44%

Higher net margin than 7% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

21st percentile

-4.5%

Faster asset growth than 21% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

52nd percentile

4.8%

Faster revenue growth than 52% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$3,315,771

Down $154,978 (-4.5%) from 2018

Net Assets

Down

-$1,361,105

Down $149,065 (-12%) from 2018

Liabilities

Down

$4,676,876

Down $5,913 (-0.1%) from 2018

Revenue

Up

$341,327

Up $15,704 (+4.8%) from 2018

Expenses

Up

$490,392

Up $5,213 (+1.1%) from 2018

Net Income

Up

-$149,065

Up $10,491 (+6.6%) from 2018

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2012: $4,419,626Liabilities 2012: $4,658,698Net Assets 2012: -$239,0722012Assets 2013: $4,260,083Liabilities 2013: $4,658,957Net Assets 2013: -$398,8742013Assets 2014: $4,092,421Liabilities 2014: $4,681,200Net Assets 2014: -$588,7792014Assets 2015: $3,919,373Liabilities 2015: $4,666,138Net Assets 2015: -$746,7652015Assets 2016: $3,755,911Liabilities 2016: $4,665,368Net Assets 2016: -$909,4572016Assets 2017: $3,626,555Liabilities 2017: $4,679,039Net Assets 2017: -$1,052,4842017Assets 2018: $3,470,749Liabilities 2018: $4,682,789Net Assets 2018: -$1,212,0402018Assets 2019: $3,315,771Liabilities 2019: $4,676,876Net Assets 2019: -$1,361,1052019Assets 2020: $3,169,010Liabilities 2020: $4,666,947Net Assets 2020: -$1,497,9372020Assets 2021: $3,011,583Liabilities 2021: $4,671,526Net Assets 2021: -$1,659,9432021Assets 2022: $2,791,903Liabilities 2022: $4,699,740Net Assets 2022: -$1,907,8372022Assets 2023: $2,604,059Liabilities 2023: $4,689,306Net Assets 2023: -$2,085,2472023Assets 2024: $2,488,044Liabilities 2024: $4,728,946Net Assets 2024: -$2,240,9022024

Highlighted filing

2019

Assets$3,315,771
Liabilities$4,676,876
Net Assets-$1,361,105

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2012: $359,5112012Revenue 2013: $214,845Expenses 2013: $374,647Net Income 2013: -$159,8022013Revenue 2014: $214,512Expenses 2014: $404,417Net Income 2014: -$189,9052014Revenue 2015: $255,121Expenses 2015: $413,107Net Income 2015: -$157,9862015Revenue 2016: $279,917Expenses 2016: $442,609Net Income 2016: -$162,6922016Revenue 2017: $302,538Expenses 2017: $445,565Net Income 2017: -$143,0272017Revenue 2018: $325,623Expenses 2018: $485,179Net Income 2018: -$159,5562018Revenue 2019: $341,327Expenses 2019: $490,392Net Income 2019: -$149,0652019Revenue 2020: $361,777Expenses 2020: $498,609Net Income 2020: -$136,8322020Revenue 2021: $381,088Expenses 2021: $543,094Net Income 2021: -$162,0062021Revenue 2022: $368,597Expenses 2022: $616,491Net Income 2022: -$247,8942022Revenue 2023: $395,405Expenses 2023: $572,815Net Income 2023: -$177,4102023Revenue 2024: $421,579Expenses 2024: $577,234Net Income 2024: -$155,6552024

Highlighted filing

2019

Revenue$341,327
Expenses$490,392
Net Income-$149,065
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 15, 2020
Return Version
2019v5.1
Gross Receipts
$341,327
Mission and Program Overview

Mission

Provide affordable housing to low-income senior citizens in indianapolis, in.

Provide affordable housing to low-income senior citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,924,664$2,774,015▼ $150,649
Prepaid Expenses and Deferred Charges$1,703$2,076▲ $373
Accounts Receivable$816$1,509▲ $693
Cash and Non-Interest-Bearing Accounts$8,826$1,125▼ $7,701
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-1,212,040$-1,361,105▼ $149,065
Total Assets$3,470,749$3,315,771▼ $154,978
Other Assets Total$534,740$537,046▲ $2,306
Liabilities
Unsecured Notes Loans Payable$4,635,400$4,635,400→ $0
Accounts Payable and Accrued Expenses$35,398$30,276▼ $5,122
Other Liabilities$11,173$10,925▼ $248
Deferred Revenue$818$275▼ $543
Total Liabilities$4,682,789$4,676,876▼ $5,913
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,212,040$-1,361,105▼ $149,065
Total Liabilities and Net Assets / Fund Balance$3,470,749$3,315,771▼ $154,978

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,674,015$1,468,826$4,142,841
Land$100,000-$100,000
Equipment$0$47,703$47,703
Other Assets Org$22,296--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lodeana LumpkinsPresident
Reverend T D RobinsonMember
Sadie BarnettSecretary
Marvel MooreTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$335,856
Investment Income
$406
Other Revenue
$5,065
Change in Net Assets
$-149,065

Audited Revenue Reconciliation

Revenue per Audited Statements
$341,327
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$341,327
Total Revenue per Form 990
$341,327
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$371,120
Salaries, Compensation, and Employee Benefits$119,272
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$150,649--$150,649
Other Salaries and Wages$90,807--$90,807
Fees for Services Management-$33,900-$33,900
Insurance$25,263--$25,263
Office Expenses$3,091$20,924-$24,015
Other Employee Benefits$23,681--$23,681
Fees for Services Accounting-$7,350-$7,350
Payroll Taxes$4,784--$4,784
Other Expenses$10,029$2,506-$2,506
Advertising-$1,413-$1,413
Conferences and Meetings$793--$793
All Other Expenses$558--$558
Travel$20$134-$154
Interest-$20-$20
Total Functional Expenses$424,145$66,247$0$490,392

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$490,392
Total Expenses per Audited Statements$490,392
Total Expenses per Form 990$490,392
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit Liability$10,912
Prepaid Subsidized Rent$13
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The organization presents itself a copy of its form 990 to all board members to review and approve at their meeting.

Form 990, Part VI, Section C, Line 18

The organization maintians its form 1023 and form 990 in files along with its books and records. Upon request, these documents will be copied and made available to the public.

Form 990, Part VI, Section C, Line 19

The organization maintians its governing documents, conflict of interest policy, and financial statements in files along with its books and records. Upon request, these documents will be copied and made available to the public.

Filing and Contact Details

Filer

Filer Name
Farrell-bell Senior Housing
EIN
26-1837410
Phone
3175428200
Address
4001 NORTH FRANKLIN ROAD, INDIANAPOLIS, IN 46226

Signing Officer

Name
Lodeana Lumpkins
Title
President
Phone
3172598212
Signed
2020-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lodeana Lumpkins
Formed
2007
Legal Domicile
In
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
AGRESTA STORMS & O'LEARY PC
Address
5140 COMMERCE CIRCLE, INDIANAPOLIS, IN 46237
Preparer
Brad M Feldman CPA
Phone
3177809850
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Management has determined that there are no uncertain tax positions that would require recognition in the financial statements. If the corporation were to incur an income tax liability in the future, interest on any income tax liability would be reported as interest expense, and penalties on any income tax would be reported as penalties. Management's conclusions regarding uncertain tax positions may be subject to review and adjustment at a later date based on ongoing analysis of tax laws, regulations, and interpretations thereof, as well as other factors. The corporation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The corporation's management believes it is no longer subject to income tax examinations for years prior to 2016.

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IRS990ScheduleA/InvestmentIncomePYPct00.00170
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt111422
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt222296
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS HELD IN TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESERVE FOR RESIDUAL RECEIPTS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT LIABILITY
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. IF THE CORPORATION WERE TO INCUR AN INCOME TAX LIABILITY IN THE FUTURE, INTEREST ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INTEREST EXPENSE, AND PENALTIES ON ANY INCOME TAX WOULD BE REPORTED AS PENALTIES. MANAGEMENT'S CONCLUSIONS REGARDING UNCERTAIN TAX POSITIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED ON ONGOING ANALYSIS OF TAX LAWS, REGULATIONS, AND INTERPRETATIONS THEREOF, AS WELL AS OTHER FACTORS. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE CORPORATION'S MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0537046
IRS990ScheduleD/TotalExpensesPerForm990Amt0490392
IRS990ScheduleD/TotalLiabilityAmt010925
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PRESENTS ITSELF A COPY OF ITS FORM 990 TO ALL BOARD MEMBERS TO REVIEW AND APPROVE AT THEIR MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAINTIANS ITS FORM 1023 AND FORM 990 IN FILES ALONG WITH ITS BOOKS AND RECORDS. UPON REQUEST, THESE DOCUMENTS WILL BE COPIED AND MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAINTIANS ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS IN FILES ALONG WITH ITS BOOKS AND RECORDS. UPON REQUEST, THESE DOCUMENTS WILL BE COPIED AND MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
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IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd00
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IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt04635400
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04001 NORTH FRANKLIN ROAD
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
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IRS990/VotingMembersGoverningBodyCnt04
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IRS990/WebsiteAddressTxt0N/A
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ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LODEANA LUMPKINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03172598212
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FARRELL-BELL SENIOR HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0FARR
ReturnHeader/Filer/EIN0261837410
ReturnHeader/Filer/PhoneNum03175428200

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