Civic Intelligence

Farrell-Bell Senior Housing Apartments Inc.

990 • Fiscal year 2020 • EIN 26-1837410

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 08, 2021

3935 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

97th percentile

1.47x

Higher debt load relative to assets than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

12.90x

Higher debt load relative to revenue than 98% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

9th percentile

-38%

Higher net margin than 9% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

16th percentile

-4.4%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

60th percentile

6.0%

Faster revenue growth than 60% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$3,169,010

Down $146,761 (-4.4%) from 2019

Net Assets

Down

-$1,497,937

Down $136,832 (-10%) from 2019

Liabilities

Down

$4,666,947

Down $9,929 (-0.2%) from 2019

Revenue

Up

$361,777

Up $20,450 (+6.0%) from 2019

Expenses

Up

$498,609

Up $8,217 (+1.7%) from 2019

Net Income

Up

-$136,832

Up $12,233 (+8.2%) from 2019

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

2020

Assets$3,169,010
Liabilities$4,666,947
Net Assets-$1,497,937

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

2020

Revenue$361,777
Expenses$498,609
Net Income-$136,832
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 8, 2021
Return Version
2020v4.1
Gross Receipts
$361,777
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$2,774,015$2,623,366▼ $150,649
Cash and Non-Interest-Bearing Accounts$1,125$8,818▲ $7,693
Prepaid Expenses and Deferred Charges$2,076$3,416▲ $1,340
Accounts Receivable$1,509$253▼ $1,256
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-1,361,105$-1,497,937▼ $136,832
Total Assets$3,315,771$3,169,010▼ $146,761
Other Assets Total$537,046$533,157▼ $3,889
Liabilities
Unsecured Notes Loans Payable$4,635,400$4,635,400→ $0
Accounts Payable and Accrued Expenses$30,276$16,538▼ $13,738
Other Liabilities$10,925$11,689▲ $764
Deferred Revenue$275$3,320▲ $3,045
Total Liabilities$4,676,876$4,666,947▼ $9,929
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,361,105$-1,497,937▼ $136,832
Total Liabilities and Net Assets / Fund Balance$3,315,771$3,169,010▼ $146,761

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,523,366$1,619,475$4,142,841
Land$100,000-$100,000
Equipment$0$47,703$47,703
Other Assets Org$22,298--
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
$355,523
Investment Income
$193
Other Revenue
$6,061
Change in Net Assets
$-136,832

Audited Revenue Reconciliation

Revenue per Audited Statements
$361,777
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$361,777
Total Revenue per Form 990
$361,777
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$365,641
Salaries, Compensation, and Employee Benefits$132,968
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$105,413--$105,413
Fees for Services Management-$36,230-$36,230
Insurance$27,451--$27,451
Office Expenses$3,518$22,390-$25,908
Other Employee Benefits$22,697--$22,697
Fees for Services Accounting-$7,650-$7,650
Payroll Taxes$4,858--$4,858
Advertising-$1,765-$1,765
Other Expenses$797$2,790-$797
Conferences and Meetings$540--$540
All Other Expenses$425--$425
Interest-$22-$22
Travel-$11-$11
Total Functional Expenses$427,751$70,858$0$498,609

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$498,609
Total Expenses per Audited Statements$498,609
Total Expenses per Form 990$498,609
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$11,307
Prepaid Subsidized Rent$382
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
3935 NORTH FRANKLIN ROAD, INDIANAPOLIS, IN 46226

Signing Officer

Name
Lodeana Lumpkins
Title
President
Phone
3172598212
Signed
2021-06-08
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
Stephen Hurrle 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 2017.

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT SECURITY DEPOSITS HELD IN TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESERVE FOR RESIDUAL RECEIPTS
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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 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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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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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02021-06-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FARRELL-BELL SENIOR HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0APARTMENTS INC
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