Civic Intelligence

1602 South Staples Housing Inc

EIN 26-3674070 • 501(c)3 • San Antonio, TX

Profile

The corporation is a nonprofit corporation organized under the laws of texas on august 11, 2008,for the purpose of developing and operating an apartment complex of 6 units (one for mgr.) for developmentally disadvantaged citizens in corpus christi, texas. The project will operate under the provisions of section 811 of the national housing act and regulated by the u.s.department of hud. Such projects are regulated by hud as to rent charges and operating methods. The construction was completed in september 2010. Rent on the apartment units began november 2010.total housing assistance from hud during the year ended december 31, 2013 was $24,789.the project has executed a $550,840 capital advance agreement with u.s. Department of housting and urban development (hud), which requires the utilization of the project pursuant to section 811 for minimum of 40 years.the project received a $85,000 home investment partnership(home) program grant funded through the city of corpus christi, texas.

PO Box 10278San Antonio, TX 78210

none

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.01x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

78th percentile

0.05x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

75th percentile

20%

Higher net margin than 75% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

47th percentile

-3.5%

Faster asset growth than 47% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

91st percentile

87%

Faster revenue growth than 91% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$469,649

Down $16,982 (-3.5%) from 2021

Liabilities

Down

$4,054

Down $33,575 (-89%) from 2021

Net Assets

Up

$465,595

Up $16,593 (+3.7%) from 2021

Operations
Liabilities / Revenue78th percentileNet Margin75th percentile

Revenue

Up

$81,759

Up $38,128 (+87%) from 2021

Expenses

Down

$65,166

Down $5,271 (-7.5%) from 2021

Net Income

Up

$16,593

Up $43,399 (+162%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth47th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2010: $650,502Liabilities 2010: $45,867Net Assets 2010: $604,6352010Assets 2011: $626,805Liabilities 2011: $29,902Net Assets 2011: $596,9032011Assets 2012: $614,435Liabilities 2012: $41,225Net Assets 2012: $573,2102012Assets 2013: $597,190Liabilities 2013: $44,928Net Assets 2013: $552,2622013Assets 2014: $580,725Liabilities 2014: $28,373Net Assets 2014: $552,3522014Assets 2015: $563,032Liabilities 2015: $15,121Net Assets 2015: $547,9112015Assets 2016: $550,640Liabilities 2016: $10,365Net Assets 2016: $540,2752016Assets 2017: $538,165Liabilities 2017: $10,984Net Assets 2017: $527,1812017Assets 2018: $523,449Liabilities 2018: $10,796Net Assets 2018: $512,6532018Assets 2019: $512,828Liabilities 2019: $19,878Net Assets 2019: $492,9502019Assets 2020: $499,017Liabilities 2020: $23,209Net Assets 2020: $475,8082020Assets 2021: $486,631Liabilities 2021: $37,629Net Assets 2021: $449,0022021Assets 2022: $469,649Liabilities 2022: $4,054Net Assets 2022: $465,5952022

Highlighted filing

2022

Assets$469,649
Liabilities$4,054
Net Assets$465,595
Open 2022 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100K$50K$0-$50KExpenses 2010: $14,2832010Expenses 2011: $59,0582011Expenses 2012: $57,7862012Revenue 2013: $33,693Expenses 2013: $54,641Net Income 2013: -$20,9482013Revenue 2014: $49,337Expenses 2014: $49,247Net Income 2014: $902014Revenue 2015: $46,998Expenses 2015: $51,439Net Income 2015: -$4,4412015Revenue 2016: $46,489Expenses 2016: $54,125Net Income 2016: -$7,6362016Revenue 2017: $51,132Expenses 2017: $64,226Net Income 2017: -$13,0942017Revenue 2018: $48,590Expenses 2018: $63,118Net Income 2018: -$14,5282018Revenue 2019: $48,008Expenses 2019: $67,711Net Income 2019: -$19,7032019Revenue 2020: $47,537Expenses 2020: $64,679Net Income 2020: -$17,1422020Revenue 2021: $43,631Expenses 2021: $70,437Net Income 2021: -$26,8062021Revenue 2022: $81,759Expenses 2022: $65,166Net Income 2022: $16,5932022

Highlighted filing

2022

Revenue$81,759
Expenses$65,166
Net Income$16,593
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$469,649
Liabilities
$4,054
Net assets
$465,595
Revenue
$81,759
Expenses
$65,166
Net income
$16,593
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$4.70$0.04$4.66$0.82$0.65$0.17
2021Detailed filing. Detailed filing data is available for this year.$4.87$0.38$4.49$0.44$0.70$0.27
2020Detailed filing. Detailed filing data is available for this year.$4.99$0.23$4.76$0.48$0.65$0.17
2019Detailed filing. Detailed filing data is available for this year.$5.13$0.20$4.93$0.48$0.68$0.20
2018Detailed filing. Detailed filing data is available for this year.$5.23$0.11$5.13$0.49$0.63$0.15
2017Detailed filing. Detailed filing data is available for this year.$5.38$0.11$5.27$0.51$0.64$0.13
2016Detailed filing. Detailed filing data is available for this year.$5.51$0.10$5.40$0.46$0.54$0.08
2015Detailed filing. Detailed filing data is available for this year.$5.63$0.15$5.48$0.47$0.51$0.04
2014Detailed filing. Detailed filing data is available for this year.$5.81$0.28$5.52$0.49$0.49$0.00
2013Detailed filing. Detailed filing data is available for this year.$5.97$0.45$5.52$0.34$0.55$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.14$0.41$5.73$0.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.27$0.30$5.97$0.59
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.51$0.46$6.05$0.14
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 4, 2023
Return Version
2022v5.0
Gross Receipts
$81,759
Mission and Program Overview

Mission

The corporation is a nonprofit corporation organized under the laws of texas on august 11, 2008,for the purpose of developing and operating an apartment complex of 6 units (one for mgr.) for developmentally disadvantaged citizens in corpus christi, texas. The project will operate under the provisions of section 811 of the national housing act and regulated by the u.s.department of hud. Such projects are regulated by hud as to rent charges and operating methods. The construction was completed in september 2010. Rent on the apartment units began november 2010.total housing assistance from hud during the year ended december 31, 2015 was $37,582.the project has executed a $550,840 capital advance agreement with u.s. Department of housting and urban development (hud), which requires the utilization of the project pursuant to section 811 for minimum of 40 years.the project received a $85,000 home investment partnership(home) program grant funded through the city of corpus christi, texas.

The corporation is a nonprofit corporation organized under the laws of texas on august 11, 2008, for the purpose of developing and operating an apartment complex of 6 units for developmentally disadvantaged citizens in corpus christi, texas. The project will operate under the provisions of section 811 of the national housing act and regulated by the u.s. Department of housing and urban development (hud). Such projects are regulated by hud as to rent charges and operating methods. The construction was completed in september 2010. Rent on the apartment units began on november 2010.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$470,014$455,413▼ $14,601
Prepaid Expenses and Deferred Charges$1,299$1,546▲ $247
Cash and Non-Interest-Bearing Accounts$500$1,470▲ $970
Total Assets$486,631$469,649▼ $16,982
Other Assets Total$14,818$11,220▼ $3,598
Liabilities
Accounts Payable and Accrued Expenses$33,737$3,300▼ $30,437
Other Liabilities$1,120$595▼ $525
Deferred Revenue$2,772$159▼ $2,613
Total Liabilities$37,629$4,054▼ $33,575
Net Assets / Fund Balance
Net Assets With Donor Restrictions$635,840$635,840→ $0
Net Assets Without Donor Restrictions$-186,838$-170,245▲ $16,593
Total Net Assets Fund Balance$449,002$465,595▲ $16,593
Total Liabilities and Net Assets / Fund Balance$486,631$469,649▼ $16,982

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$406,413$177,637$584,050
Land$49,000-$49,000
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Judy TeldgePresident
Daniel GallegosDirector
Fernando AcostaSecretary-tr
David WalkerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$81,745
Investment Income
$14
Other Revenue
$0
Change in Net Assets
$16,593

Audited Revenue Reconciliation

Revenue per Audited Statements
$81,759
Total Revenue per Audited Statements
$81,759
Total Revenue per Form 990
$81,759
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$48,671
Salaries, Compensation, and Employee Benefits$16,495
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$14,601--$14,601
Other Salaries and Wages$13,232--$13,232
Occupancy$9,614--$9,614
Office Expenses$5,163--$5,163
Fees for Services Accounting-$5,038-$5,038
Fees for Services Management-$3,644-$3,644
Other Expenses$1,840--$1,840
Payroll Taxes$1,751--$1,751
Other Employee Benefits$1,512--$1,512
Insurance$50--$50
Total Functional Expenses$56,484$8,682$0$65,166

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$65,166
Total Expenses per Audited Statements$65,166
Total Expenses per Form 990$65,166
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 Deposits$595
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“In may 2010, suzanne smith management company signed a management agreement to provide management services. The fee for services is ten percent (10%) of gross residential income collected.”

Form 990, Page 6, Part VI, Line 11B

“A copy of the form 990 has been provided to the organization's governing body, and they review it prior to sending to the irs.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, financial statements, and form 990 are available upon request.”

Filing and Contact Details

Filer

Filer Name
1602 South Staples Housing Inc
EIN
26-3674070
Phone
2105310577
Address
PO BOX 10278, SAN ANTONIO, TX 78210
Doing Business As
1602 South Staples Housing Inc

Signing Officer

Name
Judy Teldge
Title
President
Phone
2105310577
Signed
2023-03-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Judy Teldge
Formed
2008
Legal Domicile
TX
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Maddox & Associates Apc
Address
5627 BANKERS AVE BLDG 2, BATON ROUGE, LA 70808-2610
Preparer
Jeffrey M Maddox
Phone
2259263360
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The corporation is a nonprofit corporation organized under the laws of texas on august 11, 2008, for the purpose of developing and operating an apartment complex of 6 units (one for mgr.) for developmentally disadvantaged citizens in corpus christi, texas. The project will operate under the provisions of section 811 of the national housing act and regulated by the u.s. Department of housing and urban development (hud). Such projects are regulated by hud as to rent charges and operating methods. The construction was completed in september 2010. Rent on the apartment units began on november 2010.”

Raw XML Appendix341 raw XML fields

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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IRS990/PYTotalRevenueAmt043631
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt016593
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt081745
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt014
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt011
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt09
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt06
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt054
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt081745
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt043617
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt047526
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt047999
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt048584
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0269471
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt014
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt014
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt011
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt09
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt06
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IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/PublicSupportCY509Pct00.99980
IRS990ScheduleA/PublicSupportPY509Pct00.99980
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt047999
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IRS990ScheduleA/Total509Grp/TotalAmt0269471
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0177637
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0584050
IRS990ScheduleD/ExpensesSubtotalAmt065166
IRS990ScheduleD/LandGrp/BookValueAmt049000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt049000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0595
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt081759
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0455413
IRS990ScheduleD/TotalExpensesPerForm990Amt065166
IRS990ScheduleD/TotalLiabilityAmt0595
IRS990ScheduleD/TotalRevenuePerForm990Amt081759
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS A NONPROFIT CORPORATION ORGANIZED UNDER THE LAWS OF TEXAS ON AUGUST 11, 2008, FOR THE PURPOSE OF DEVELOPING AND OPERATING AN APARTMENT COMPLEX OF 6 UNITS (ONE FOR MGR.) FOR DEVELOPMENTALLY DISADVANTAGED CITIZENS IN CORPUS CHRISTI, TEXAS. THE PROJECT WILL OPERATE UNDER THE PROVISIONS OF SECTION 811 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. THE CONSTRUCTION WAS COMPLETED IN SEPTEMBER 2010. RENT ON THE APARTMENT UNITS BEGAN ON NOVEMBER 2010.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN MAY 2010, SUZANNE SMITH MANAGEMENT COMPANY SIGNED A MANAGEMENT AGREEMENT TO PROVIDE MANAGEMENT SERVICES. THE FEE FOR SERVICES IS TEN PERCENT (10%) OF GROSS RESIDENTIAL INCOME COLLECTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE FORM 990 HAS BEEN PROVIDED TO THE ORGANIZATION'S GOVERNING BODY, AND THEY REVIEW IT PRIOR TO SENDING TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND FORM 990 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt056484
IRS990/TotalFunctionalExpensesGrp/TotalAmt065166
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt037629
IRS990/TotalLiabilitiesEOYAmt04054
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IRS990/TotalLiabilitiesGrp/EOYAmt04054
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IRS990/TotalProgramServiceExpensesAmt056484
IRS990/TotalProgramServiceRevenueAmt081745
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt081759
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03554 SANTA FE ST
IRS990/USAddress/CityNm0CORPUS CHRISTI
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078411
IRS990/VotingMembersGoverningBodyCnt04
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JUDY TELDGE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02105310577
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt01602 SOUTH STAPLES HOUSING INC
ReturnHeader/Filer/BusinessNameControlTxt01602
ReturnHeader/Filer/EIN0263674070
ReturnHeader/Filer/PhoneNum02105310577
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 10278
ReturnHeader/Filer/USAddress/CityNm0SAN ANTONIO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078210
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0721314069
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MADDOX & ASSOCIATES APC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05627 BANKERS AVE BLDG 2
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BATON ROUGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0708082610
ReturnHeader/PreparerPersonGrp/PhoneNum02259263360
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY M MADDOX
ReturnHeader/ReturnTs02023-05-01T10:02:14-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JUDY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TELGE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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