Civic Intelligence

Southeastern Housing Foundation II Inc

990 • Fiscal year 2016 • EIN 27-0266088

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 16, 2017

Organization Profilewww.klf.org
318 N Gay Street Room 210Knoxville, TN 37917

(865) 524-2774

Siviq Scores

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

Liabilities / Assets

75th percentile

0.50x

Higher debt load relative to assets than 75% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

89th percentile

2.51x

Higher debt load relative to revenue than 89% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

88th percentile

35%

Higher net margin than 88% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

60th percentile

4.2%

Faster asset growth than 60% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

10th percentile

-31%

Faster revenue growth than 10% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$6,180,323

Up $247,754 (+4.2%) from 2015

Net Assets

Up

$3,064,628

Up $429,948 (+16%) from 2015

Liabilities

Down

$3,115,695

Down $182,194 (-5.5%) from 2015

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin88th percentile

Revenue

Down

$1,240,745

Down $545,880 (-31%) from 2015

Expenses

Up

$810,797

Up $141,608 (+21%) from 2015

Net Income

Down

$429,948

Down $687,488 (-62%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $3,716,269Liabilities 2011: $1,543,453Net Assets 2011: $2,172,8162011Assets 2013: $3,691,191Liabilities 2013: $2,095,740Net Assets 2013: $1,595,4512013Assets 2014: $3,555,367Liabilities 2014: $2,038,123Net Assets 2014: $1,517,2442014Assets 2015: $5,932,569Liabilities 2015: $3,297,889Net Assets 2015: $2,634,6802015Assets 2016: $6,180,323Liabilities 2016: $3,115,695Net Assets 2016: $3,064,6282016Assets 2018: $6,146,141Liabilities 2018: $2,923,885Net Assets 2018: $3,222,2562018Assets 2019: $5,996,763Liabilities 2019: $2,865,546Net Assets 2019: $3,131,2172019Assets 2020: $6,544,872Liabilities 2020: $2,972,786Net Assets 2020: $3,572,0862020Assets 2021: $7,466,786Liabilities 2021: $4,062,921Net Assets 2021: $3,403,8652021Assets 2024: $6,344,918Liabilities 2024: $3,180,976Net Assets 2024: $3,163,9422024

Highlighted filing

2016

Assets$6,180,323
Liabilities$3,115,695
Net Assets$3,064,628
Open 2016 Filing

Operations Trend

Revenue Growth10th percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2011: $364,5942011Revenue 2013: $145,579Expenses 2013: $426,435Net Income 2013: -$280,8562013Revenue 2014: $434,347Expenses 2014: $512,554Net Income 2014: -$78,2072014Revenue 2015: $1,786,625Expenses 2015: $669,189Net Income 2015: $1,117,4362015Revenue 2016: $1,240,745Expenses 2016: $810,797Net Income 2016: $429,9482016Revenue 2018: $948,018Expenses 2018: $900,768Net Income 2018: $47,2502018Revenue 2019: $846,957Expenses 2019: $937,996Net Income 2019: -$91,0392019Revenue 2020: $1,339,325Expenses 2020: $898,651Net Income 2020: $440,6742020Revenue 2021: $970,304Expenses 2021: $984,970Net Income 2021: -$14,6662021Revenue 2024: $1,139,321Expenses 2024: $1,041,707Net Income 2024: $97,6142024

Highlighted filing

2016

Revenue$1,240,745
Expenses$810,797
Net Income$429,948
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 16, 2017
Return Version
2016v3.0
Gross Receipts
$1,240,745
Mission and Program Overview

Mission

Southeastern housing foundation (shf) develops, owns and manages multi- family housing for at-risk and low-income individuals/families.

Southeastern Housing Foundation SHF develops, owns and manages multi-family housing for at-risk and low-income individuals/families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,550,000$2,549,901▼ $99
Land, Buildings, and Equipment, Net$2,449,561$2,391,384▼ $58,177
Savings and Temporary Cash Investments-$948,835-
Cash and Non-Interest-Bearing Accounts$698,913$155,297▼ $543,616
Accounts Receivable$40,056$25,776▼ $14,280
Prepaid Expenses and Deferred Charges$158,830$17,901▼ $140,929
Investments Program Related$35,209$11,760▼ $23,449
Total Assets$5,932,569$6,180,323▲ $247,754
Other Assets Total-$79,469-
Liabilities
Unsecured Notes Loans Payable$3,172,996$2,968,302▼ $204,694
Accounts Payable and Accrued Expenses$111,495$147,393▲ $35,898
Other Liabilities$13,398--
Total Liabilities$3,297,889$3,115,695▼ $182,194
Net Assets / Fund Balance
Unrestricted Net Assets$2,634,680$2,582,517▼ $52,163
Temporarily Rstr Net Assets-$482,111-
Total Net Assets Fund Balance$2,634,680$3,064,628▲ $429,948
Total Liabilities and Net Assets / Fund Balance$5,932,569$6,180,323▲ $247,754

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,965,026$96,308$2,075,556
Land$339,850-$339,850
Equipment$86,508$25,681$112,189
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Chris MartinPresident
Joel HornbergerBoard Member
Todd HarmsBoard Member
Joe PetreSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$585,850
Program Service Revenue
$678,136
Investment Income
$209
Other Revenue
$-23,450
All Other Contributions
$585,850
Change in Net Assets
$429,948
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$663,293
Salaries, Compensation, and Employee Benefits$147,504
Total Fundraising Expense$7,879
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$127,958--$127,958
Depreciation Depletion$72,363--$72,363
Other Expenses$486,292$70,911$7,879$70,911
Payroll Taxes$9,875--$9,875
Interest$6,990--$6,990
Other Employee Benefits$6,653--$6,653
Fees for Services Accounting$6,181--$6,181
Insurance$4,970--$4,970
Pension Plan Contributions$3,018--$3,018
Office Expenses$981--$981
Travel$342--$342
Total Functional Expenses$732,007$70,911$7,879$810,797
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
Federal income taxes-
Tenant Security Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
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 11

“The organization provides an electronic copy of the 990 to its board members for review and comments prior to filing the return.”

Form 990, Part VI, Section B, Line 12C

“The board of directors and the President review monthly reports to ensure compliance witht the conflict of interest policy.”

Form 990, Part VI, Section B, Line 15B

“The board of directors gathers information from other non-profit organizations in the Knoxville area. This information is used to determine compensation based upon comparisons with similar organizations with similar employment positions.”

Form 990, Part VI, Section C, Line 19

“The governing documents, the conflict of interest policy, Form 990, and the financial statements of the organization are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Southeastern Housing Foundation II Inc
EIN
27-0266088
Phone
8655242774
Address
318 N Gay Street Room 210, Knoxville, TN 37917

Signing Officer

Name
Chris Martin
Title
President
Signed
2017-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher L Martin
Formed
2010
Legal Domicile
Tn
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
28

Preparer

Firm
Marret & Company PLLC
Address
PO Box 10313, Knoxville, TN 37939
Preparer
William G Marret
Phone
8655583449
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 3B

“The organization had no unrelated business income in 2016.”

Financial Statement Notes

X 2

“The organization accounts for uncertain tax positions using a two-step approach. The first step is to determine whether it is more likely than not that a tax posiition will be sustained upon examination including resolution of any related appeals or litigation processes, based on the technical merits of the position. The second step is to measure and recognize in the financial statements the largest amount of benefit that is greater than 50 likely of being realized upon the ultimate settlement. SHF II had no uncertain tax positions that required significant adjustments to the financial statements as of December 31, 2016.”

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IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0621574495
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IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt078790
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Knoxville Leadership Foundation
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt078790
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt096308
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02075556
IRS990ScheduleD/EquipmentGrp/BookValueAmt086508
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025681
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0112189
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IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0339850
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0339850
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant Security Deposits
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization accounts for uncertain tax positions using a two-step approach. The first step is to determine whether it is more likely than not that a tax posiition will be sustained upon examination including resolution of any related appeals or litigation processes, based on the technical merits of the position. The second step is to measure and recognize in the financial statements the largest amount of benefit that is greater than 50 likely of being realized upon the ultimate settlement. SHF II had no uncertain tax positions that required significant adjustments to the financial statements as of December 31, 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0X 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02391384
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization had no unrelated business income in 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization provides an electronic copy of the 990 to its board members for review and comments prior to filing the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board of directors and the President review monthly reports to ensure compliance witht the conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board of directors gathers information from other non-profit organizations in the Knoxville area. This information is used to determine compensation based upon comparisons with similar organizations with similar employment positions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The governing documents, the conflict of interest policy, Form 990, and the financial statements of the organization are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part V, Line 3b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt070911
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0732007
IRS990/TotalFunctionalExpensesGrp/TotalAmt0810797
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03297889
IRS990/TotalLiabilitiesEOYAmt03115695
IRS990/TotalLiabilitiesGrp/BOYAmt03297889
IRS990/TotalLiabilitiesGrp/EOYAmt03115695
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03064628
IRS990/TotalProgramServiceExpensesAmt0732007
IRS990/TotalProgramServiceRevenueAmt0678136
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0678345
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01240745
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06180323
IRS990/TravelGrp/ProgramServicesAmt0342
IRS990/TravelGrp/TotalAmt0342
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt03172996
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt02968302
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0318 N Gay St Ste 210
IRS990/USAddress/CityNm0Knoxville
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037917
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.klf.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Chris Martin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-10-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Southeastern Housing Foundation II Inc
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0270266088
ReturnHeader/Filer/PhoneNum08655242774
ReturnHeader/Filer/USAddress/AddressLine1Txt0318 N Gay Street Room 210
ReturnHeader/Filer/USAddress/CityNm0Knoxville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037917
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07730A19509A19337EB364E49C1E69A38CB22680C
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07730A19509A19337EB364E49C1E69A38CB22680C
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt099.57.200.129
ReturnHeader/FilingSecurityInformation/IPDt02017-10-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:52:34
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Marret & Company PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 10313
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Knoxville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037939
ReturnHeader/PreparerPersonGrp/PhoneNum08655583449
ReturnHeader/PreparerPersonGrp/PreparationDt02017-10-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0William G Marret
ReturnHeader/ReturnTs02017-10-16T01:59:36-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01

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
$6,180,323
Liabilities
$3,115,695
Net assets
$3,064,628
Revenue
$1,240,745
Expenses
$810,797
Net income
$429,948
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.34$3.18$3.16$1.14$1.04$0.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.47$4.06$3.40$0.97$0.98$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.54$2.97$3.57$1.34$0.90$0.44
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.00$2.87$3.13$0.85$0.94$0.09
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.15$2.92$3.22$0.95$0.90$0.05
2016Detailed filing. Detailed filing data is available for this year.$6.18$3.12$3.06$1.24$0.81$0.43
2015Detailed filing. Detailed filing data is available for this year.$5.93$3.30$2.63$1.79$0.67$1.12
2014Detailed filing. Detailed filing data is available for this year.$3.56$2.04$1.52$0.43$0.51$0.08
2013Detailed filing. Detailed filing data is available for this year.$3.69$2.10$1.60$0.15$0.43$0.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.72$1.54$2.17$0.36
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $5M-$10M nonprofits