Civic Intelligence

Magnolia Housing Inc.

990 • Fiscal year 2017 • EIN 27-3600136

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 03, 2018

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

56th percentile

1.14x

Higher debt load relative to assets than 56% of similar nonprofits.

2017 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

96th percentile

25.84x

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

2017 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2017

Net Margin

15th percentile

-56%

Higher net margin than 15% of similar nonprofits.

2017 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

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

2017 filings • NTEE L22 • $1M-$5M nonprofits • Source year 2017

Asset Growth

58th percentile

-2.3%

Faster asset growth than 58% of similar nonprofits.

2017 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

93rd percentile

47%

Faster revenue growth than 93% of similar nonprofits.

2017 filings • NTEE L22 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$4,636,183

Down $110,343 (-2.3%) from 2016

Net Assets

Down

-$668,572

Down $114,650 (-21%) from 2016

Liabilities

Up

$5,304,755

Up $4,307 (+0.1%) from 2016

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin15th percentile

Revenue

Up

$205,292

Up $66,000 (+47%) from 2016

Expenses

Up

$319,942

Up $45,501 (+17%) from 2016

Net Income

Up

-$114,650

Up $20,499 (+15%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth58th 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

2017

Assets$4,636,183
Liabilities$5,304,755
Net Assets-$668,572
Open 2017 Filing

Operations Trend

Revenue Growth93rd 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

2017

Revenue$205,292
Expenses$319,942
Net Income-$114,650
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 3, 2018
Return Version
2017v2.2
Gross Receipts
$205,292
Mission and Program Overview

Mission

Reduced rent housing for the elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,046,153$3,923,954▼ $122,199
Cash and Non-Interest-Bearing Accounts$15,056$11,506▼ $3,550
Prepaid Expenses and Deferred Charges$2,667$2,993▲ $326
Accounts Receivable$816$1,702▲ $886
Total Assets$4,746,526$4,636,183▼ $110,343
Other Assets Total$681,834$696,028▲ $14,194
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,270,600$5,270,600→ $0
Accounts Payable and Accrued Expenses$18,260$24,631▲ $6,371
Other Liabilities$10,901$9,501▼ $1,400
Deferred Revenue$687$23▼ $664
Total Liabilities$5,300,448$5,304,755▲ $4,307
Net Assets / Fund Balance
Unrestricted Net Assets$-553,922$-668,572▼ $114,650
Total Net Assets Fund Balance$-553,922$-668,572▼ $114,650
Total Liabilities and Net Assets / Fund Balance$4,746,526$4,636,183▼ $110,343

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,708,933$570,194-
Other Land Buildings$6,978$43,377-
Land$164,400--
Equipment$35,365$45,700-
Leasehold Improvements$8,278$3,007-
Other Assets Org$18,359--
Compensation and Service Providers
Top Officer Pay69th 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
$204,318
Investment Income
$974
Other Revenue
$0
Change in Net Assets
$-114,650

Audited Revenue Reconciliation

Revenue per Audited Statements
$205,292
Total Revenue per Audited Statements
$205,292
Total Revenue per Form 990
$205,292
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$275,075
Salaries, Compensation, and Employee Benefits$44,867
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$123,901$0$0$123,901
Other Salaries and Wages$0$41,036$0$41,036
Fees for Services Management$0$19,809$0$19,809
Occupancy$16,624$0$0$16,624
Fees for Services Accounting$0$9,268$0$9,268
Insurance$7,871$0$0$7,871
Office Expenses$0$4,443$0$4,443
Payroll Taxes$0$3,486$0$3,486
Other Expenses$2,836$0$0$2,836
Information Technology$0$1,467$0$1,467
Conferences and Meetings$0$1,315$0$1,315
Advertising$994$0$0$994
Travel$0$819$0$819
Other Employee Benefits$0$345$0$345
Total Functional Expenses$237,954$81,988$0$319,942

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$319,942
Total Expenses per Audited Statements$319,942
Total Expenses per Form 990$319,942
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$9,501
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
2018-04-03
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
Patterson & Associates 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 Appendix398 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/CurrentTaxYearMinus1YearAmt0138325
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0143710
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0139964
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0130391
IRS990ScheduleA/Total509Grp/TotalAmt0756708
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0760827
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03708933
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0570194
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt04279127
IRS990ScheduleD/EquipmentGrp/BookValueAmt035365
IRS990ScheduleD/EquipmentGrp/DepreciationAmt045700
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt081065
IRS990ScheduleD/ExpensesSubtotalAmt0319942
IRS990ScheduleD/LandGrp/BookValueAmt0164400
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0164400
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt08278
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03007
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt011285
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04834
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1672835
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt218359
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UTILITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER CASH DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ORGANIZATIONAL COSTS, NET OF AMORTIZATION
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06978
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt043377
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt050355
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09501
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0205292
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03923954
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0696028
IRS990ScheduleD/TotalExpensesPerForm990Amt0319942
IRS990ScheduleD/TotalLiabilityAmt09501
IRS990ScheduleD/TotalRevenuePerForm990Amt0205292
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0205292
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0319942
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/TotalAssetsBOYAmt04746526
IRS990/TotalAssetsEOYAmt04636183
IRS990/TotalAssetsGrp/BOYAmt04746526
IRS990/TotalAssetsGrp/EOYAmt04636183
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt081988
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0237954
IRS990/TotalFunctionalExpensesGrp/TotalAmt0319942
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05300448
IRS990/TotalLiabilitiesEOYAmt05304755
IRS990/TotalLiabilitiesGrp/BOYAmt05300448
IRS990/TotalLiabilitiesGrp/EOYAmt05304755
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-553922
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-668572
IRS990/TotalProgramServiceExpensesAmt0237954
IRS990/TotalProgramServiceRevenueAmt0204318
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0205292
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0205292
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04746526
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04636183
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0819
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt0819
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-553922
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-668572
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DON G WELLONS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09108920436
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-03
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/AtSubmissionCreationDeviceId0347DF021241DBFB47D6EFDE661ABA5063D1EB2FB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0347DF021241DBFB47D6EFDE661ABA5063D1EB2FB
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.63.77.251
ReturnHeader/FilingSecurityInformation/IPDt02018-05-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm008:20:34
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Patterson & Associates PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04248 FAYETTEVILLE ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LUMBERTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028359
ReturnHeader/PreparerPersonGrp/PhoneNum09107381448
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW A PATTERSON CPA
ReturnHeader/ReturnTs02018-05-08T08:20:38-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,636,183
Liabilities
$5,304,755
Net assets
-$668,572
Revenue
$205,292
Expenses
$319,942
Net income
-$114,650
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
2017Detailed filing. Detailed filing data is available for this year.$4.64$5.30$0.67$0.21$0.32$0.11
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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