Civic Intelligence

Magnolia Housing Inc.

990 • Fiscal year 2016 • EIN 27-3600136

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 03, 2017

Organization ProfileN/A
PO Box 1254Dunn, NC 28335

(910) 892-0436

Siviq Scores

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

Liabilities / Assets

58th percentile

1.12x

Higher debt load relative to assets than 58% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

38.05x

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

2016 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2016

Net Margin

7th percentile

-97%

Higher net margin than 7% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2016 filings • NTEE L • $1M-$5M nonprofits • Source year 2016

Asset Growth

52nd percentile

-2.6%

Faster asset growth than 52% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

16th percentile

-3.7%

Faster revenue growth than 16% of similar nonprofits.

2016 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$4,746,526

Down $125,369 (-2.6%) from 2015

Net Assets

Down

-$553,922

Down $135,149 (-32%) from 2015

Liabilities

Up

$5,300,448

Up $9,780 (+0.2%) from 2015

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin7th percentile

Revenue

Down

$139,292

Down $5,416 (-3.7%) from 2015

Expenses

Up

$274,441

Up $778 (+0.3%) from 2015

Net Income

Down

-$135,149

Down $6,194 (-4.8%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2012: $5,208,590Liabilities 2012: $5,282,462Net Assets 2012: -$73,8722012Assets 2013: $5,104,122Liabilities 2013: $5,283,319Net Assets 2013: -$179,1972013Assets 2014: $4,999,472Liabilities 2014: $5,289,291Net Assets 2014: -$289,8192014Assets 2015: $4,871,895Liabilities 2015: $5,290,668Net Assets 2015: -$418,7732015Assets 2016: $4,746,526Liabilities 2016: $5,300,448Net Assets 2016: -$553,9222016Assets 2017: $4,636,183Liabilities 2017: $5,304,755Net Assets 2017: -$668,5722017Assets 2018: $4,543,131Liabilities 2018: $5,289,365Net Assets 2018: -$746,2342018Assets 2019: $4,425,572Liabilities 2019: $5,303,279Net Assets 2019: -$877,7072019Assets 2020: $4,306,585Liabilities 2020: $5,289,315Net Assets 2020: -$982,7302020Assets 2021: $4,207,624Liabilities 2021: $5,296,849Net Assets 2021: -$1,089,2252021Assets 2022: $4,106,040Liabilities 2022: $5,304,891Net Assets 2022: -$1,198,8512022Assets 2023: $3,996,720Liabilities 2023: $5,286,625Net Assets 2023: -$1,289,9052023Assets 2024: $3,902,387Liabilities 2024: $5,292,172Net Assets 2024: -$1,389,7852024

Highlighted filing

2016

Assets$4,746,526
Liabilities$5,300,448
Net Assets-$553,922
Open 2016 Filing

Operations Trend

Revenue Growth16th percentile

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

$400K$200K$0-$200KExpenses 2012: $102,3262012Revenue 2013: $130,620Expenses 2013: $235,944Net Income 2013: -$105,3242013Revenue 2014: $140,915Expenses 2014: $251,537Net Income 2014: -$110,6222014Revenue 2015: $144,708Expenses 2015: $273,663Net Income 2015: -$128,9552015Revenue 2016: $139,292Expenses 2016: $274,441Net Income 2016: -$135,1492016Revenue 2017: $205,292Expenses 2017: $319,942Net Income 2017: -$114,6502017Revenue 2018: $211,649Expenses 2018: $289,311Net Income 2018: -$77,6622018Revenue 2019: $226,739Expenses 2019: $358,212Net Income 2019: -$131,4732019Revenue 2020: $226,405Expenses 2020: $331,428Net Income 2020: -$105,0232020Revenue 2021: $246,390Expenses 2021: $352,885Net Income 2021: -$106,4952021Revenue 2022: $240,451Expenses 2022: $350,077Net Income 2022: -$109,6262022Revenue 2023: $260,392Expenses 2023: $351,446Net Income 2023: -$91,0542023Revenue 2024: $268,023Expenses 2024: $367,903Net Income 2024: -$99,8802024

Highlighted filing

2016

Revenue$139,292
Expenses$274,441
Net Income-$135,149
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 3, 2017
Return Version
2016v3.0
Gross Receipts
$139,292
Mission and Program Overview

Mission

Reduced rent housing for the elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,170,456$4,046,153▼ $124,303
Cash and Non-Interest-Bearing Accounts$594$15,056▲ $14,462
Prepaid Expenses and Deferred Charges$2,610$2,667▲ $57
Accounts Receivable$2,109$816▼ $1,293
Total Assets$4,871,895$4,746,526▼ $125,369
Other Assets Total$696,126$681,834▼ $14,292
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,270,600$5,270,600→ $0
Accounts Payable and Accrued Expenses$9,952$18,260▲ $8,308
Other Liabilities$10,106$10,901▲ $795
Deferred Revenue$10$687▲ $677
Total Liabilities$5,290,668$5,300,448▲ $9,780
Net Assets / Fund Balance
Unrestricted Net Assets$-418,773$-553,922▼ $135,149
Total Net Assets Fund Balance$-418,773$-553,922▼ $135,149
Total Liabilities and Net Assets / Fund Balance$4,871,895$4,746,526▼ $125,369

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,815,911$463,216-
Other Land Buildings$13,217$37,138-
Land$164,400--
Equipment$43,783$37,232-
Leasehold Improvements$8,842$2,443-
Other Assets Org$18,888--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Don G WellonsPresident/director
Gene T JerniganDirector
Sylvia W CraftDirector
Shirley P GodwinSecretary/treasurer/director
John H Wellons JrVice Pres/director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$138,325
Investment Income
$967
Other Revenue
$0
Change in Net Assets
$-135,149

Audited Revenue Reconciliation

Revenue per Audited Statements
$139,292
Total Revenue per Audited Statements
$139,292
Total Revenue per Form 990
$139,292
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$233,685
Salaries, Compensation, and Employee Benefits$40,756
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$126,004$0$0$126,004
Other Salaries and Wages$0$36,018$0$36,018
Occupancy$17,671$0$0$17,671
Fees for Services Management$0$13,236$0$13,236
Fees for Services Accounting$0$9,151$0$9,151
Insurance$7,341$0$0$7,341
Other Expenses$5,759$0$0$5,759
Office Expenses$0$3,910$0$3,910
Payroll Taxes$0$3,319$0$3,319
Information Technology$0$1,870$0$1,870
Advertising$1,811$0$0$1,811
Conferences and Meetings$0$1,608$0$1,608
Other Employee Benefits$0$1,419$0$1,419
Travel$0$1,087$0$1,087
Total Functional Expenses$202,823$71,618$0$274,441

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$274,441
Total Expenses per Audited Statements$274,441
Total Expenses per Form 990$274,441
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$10,901
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Filing and Contact Details

Filer

Filer Name
Magnolia Housing Inc
EIN
27-3600136
Phone
9108920436
Address
PO BOX 1254, DUNN, NC 28335

Signing Officer

Name
Don G Wellons
Title
President
Phone
9108920436
Signed
2017-04-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don G Wellons
Formed
2010
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Collins Kemp & Patterson Pllc
Address
4248 FAYETTEVILLE ROAD, LUMBERTON, NC 28359
Preparer
Matthew a Patterson CPA
Phone
9107381448
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“Several Board members share a family relationship.”

Pt VI, Line 11B

“Organization makes 990 available to Board members who wish to inspect prior to filing.”

Pt VI, Line 12C

“Conflict of interest policy is reviewed annually during Board meetings.”

Pt VI, Line 15A

“Organization reimburses management company for payroll related expenses.”

Pt VI, Line 15B

“Organization reimburses management company for payroll related expenses.”

Pt VI, Line 19

“Organization has a copy of 990 available for inspection.”

Raw XML Appendix397 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/Desc0PROVIDE ELDERLY AND HANDICAPPED PERSONS WITH REDUCED RENT & HOUSING SERVICES ESPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING. (38 UNITS PROVIDED)
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IRS990/Form990PartVIISectionAGrp/PersonNm1JOHN H WELLONS JR
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt028454
IRS990ScheduleA/Total509Grp/TotalAmt0580844
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0583989
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03815911
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0463216
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt04279127
IRS990ScheduleD/EquipmentGrp/BookValueAmt043783
IRS990ScheduleD/EquipmentGrp/DepreciationAmt037232
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt081015
IRS990ScheduleD/ExpensesSubtotalAmt0274441
IRS990ScheduleD/LandGrp/BookValueAmt0164400
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0164400
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt08842
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02443
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt011285
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04834
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1658112
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt218888
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UTILITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER CASH DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ORGANIZATIONAL COSTS, NET OF AMORTIZATION
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt013217
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt037138
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt050355
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010901
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0139292
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04046153
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0681834
IRS990ScheduleD/TotalExpensesPerForm990Amt0274441
IRS990ScheduleD/TotalLiabilityAmt010901
IRS990ScheduleD/TotalRevenuePerForm990Amt0139292
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0139292
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0274441
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Several Board members share a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Organization makes 990 available to Board members who wish to inspect prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conflict of interest policy is reviewed annually during Board meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Organization reimburses management company for payroll related expenses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Organization reimburses management company for payroll related expenses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Organization has a copy of 990 available for inspection.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04871895
IRS990/TotalAssetsEOYAmt04746526
IRS990/TotalAssetsGrp/BOYAmt04871895
IRS990/TotalAssetsGrp/EOYAmt04746526
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt071618
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0202823
IRS990/TotalFunctionalExpensesGrp/TotalAmt0274441
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05290668
IRS990/TotalLiabilitiesEOYAmt05300448
IRS990/TotalLiabilitiesGrp/BOYAmt05290668
IRS990/TotalLiabilitiesGrp/EOYAmt05300448
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-418773
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-553922
IRS990/TotalProgramServiceExpensesAmt0202823
IRS990/TotalProgramServiceRevenueAmt0138325
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0139292
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0139292
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04871895
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04746526
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt01087
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt01087
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-418773
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-553922
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1254
IRS990/USAddress/CityNm0DUNN
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028335
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DON G WELLONS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09108920436
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGNOLIA HOUSING INC
ReturnHeader/Filer/BusinessNameControlTxt0MAGN
ReturnHeader/Filer/EIN0273600136
ReturnHeader/Filer/PhoneNum09108920436
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1254
ReturnHeader/Filer/USAddress/CityNm0DUNN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028335
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId067207326F71F02AB3888DB1FB53FC2DF3A5F74A2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId067207326F71F02AB3888DB1FB53FC2DF3A5F74A2
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.63.77.251
ReturnHeader/FilingSecurityInformation/IPDt02017-05-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm006:06:04
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COLLINS KEMP & PATTERSON PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04248 FAYETTEVILLE ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LUMBERTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028359
ReturnHeader/PreparerPersonGrp/PhoneNum09107381448
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW A PATTERSON CPA
ReturnHeader/ReturnTs02017-05-04T06:06:24-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,746,526
Liabilities
$5,300,448
Net assets
-$553,922
Revenue
$139,292
Expenses
$274,441
Net income
-$135,149
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.90$5.29$1.39$0.27$0.37$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.00$5.29$1.29$0.26$0.35$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.11$5.30$1.20$0.24$0.35$0.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.21$5.30$1.09$0.25$0.35$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.31$5.29$0.98$0.23$0.33$0.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.43$5.30$0.88$0.23$0.36$0.13
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.54$5.29$0.75$0.21$0.29$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.64$5.30$0.67$0.21$0.32$0.11
2016Detailed filing. Detailed filing data is available for this year.$4.75$5.30$0.55$0.14$0.27$0.14
2015Detailed filing. Detailed filing data is available for this year.$4.87$5.29$0.42$0.14$0.27$0.13
2014Detailed filing. Detailed filing data is available for this year.$5.00$5.29$0.29$0.14$0.25$0.11
2013Detailed filing. Detailed filing data is available for this year.$5.10$5.28$0.18$0.13$0.24$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.21$5.28$0.07$0.10