Civic Intelligence

Watertower South Inc

EIN 30-0449524 • 501(c)3 • Merrillville, IN

Profile

To Provide Low Income Housing.

8400 Louisiana StMerrillville, IN 46410-6385

n/a

Siviq Scores

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

Liabilities / Assets

55th percentile

0.09x

Higher debt load relative to assets than 55% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

90th percentile

1.27x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

11th percentile

-28%

Higher net margin than 11% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

97th percentile

$410,049

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 348.8% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

36th percentile

-0.9%

Faster asset growth than 36% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

68th percentile

21%

Faster revenue growth than 68% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Down

$1,661,437

Down $128,314 (-7.2%) from 2022

Liabilities

Up

$131,902

Up $53,736 (+69%) from 2022

Net Assets

Down

$1,529,535

Down $182,050 (-11%) from 2022

Revenue

Up

$97,428

Up $16,229 (+20%) from 2022

Expenses

Up

$170,890

Up $14,206 (+9.1%) from 2022

Net Income

Up

-$73,462

Up $2,023 (+2.7%) from 2022

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $2,311,479Liabilities 2012: $21,252Net Assets 2012: $2,290,2272012Assets 2013: $2,394,970Liabilities 2013: $15,398Net Assets 2013: $2,379,5722013Assets 2014: $2,223,965Liabilities 2014: $15,169Net Assets 2014: $2,208,7962014Assets 2015: $2,170,748Liabilities 2015: $9,605Net Assets 2015: $2,161,1432015Assets 2016: $2,128,545Liabilities 2016: $10,027Net Assets 2016: $2,118,5182016Assets 2017: $2,040,919Liabilities 2017: $9,039Net Assets 2017: $2,031,8802017Assets 2018: $1,978,263Liabilities 2018: $17,428Net Assets 2018: $1,960,8352018Assets 2019: $1,942,951Liabilities 2019: $46,679Net Assets 2019: $1,896,2722019Assets 2020: $1,892,130Liabilities 2020: $30,536Net Assets 2020: $1,861,5942020Assets 2021: $1,838,028Liabilities 2021: $50,958Net Assets 2021: $1,787,0702021Assets 2022: $1,789,751Liabilities 2022: $78,166Net Assets 2022: $1,711,5852022Assets 2024: $1,661,437Liabilities 2024: $131,902Net Assets 2024: $1,529,5352024

Highlighted filing

2024

Assets$1,661,437
Liabilities$131,902
Net Assets$1,529,535

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2012: $250,0712012Expenses 2013: $114,6222013Revenue 2014: $76,636Expenses 2014: $119,519Net Income 2014: -$42,8832014Revenue 2015: $76,329Expenses 2015: $123,982Net Income 2015: -$47,6532015Revenue 2016: $77,179Expenses 2016: $119,804Net Income 2016: -$42,6252016Revenue 2017: $77,314Expenses 2017: $163,952Net Income 2017: -$86,6382017Revenue 2018: $73,713Expenses 2018: $144,758Net Income 2018: -$71,0452018Revenue 2019: $75,872Expenses 2019: $140,435Net Income 2019: -$64,5632019Revenue 2020: $91,283Expenses 2020: $125,961Net Income 2020: -$34,6782020Revenue 2021: $83,336Expenses 2021: $157,860Net Income 2021: -$74,5242021Revenue 2022: $81,199Expenses 2022: $156,684Net Income 2022: -$75,4852022Revenue 2024: $97,428Expenses 2024: $170,890Net Income 2024: -$73,4622024

Highlighted filing

2024

Revenue$97,428
Expenses$170,890
Net Income-$73,462

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.66$0.13$1.53$0.10$0.17$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.79$0.08$1.71$0.08$0.16$0.08
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.84$0.05$1.79$0.08$0.16$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.89$0.03$1.86$0.09$0.13$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.94$0.05$1.90$0.08$0.14$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.98$0.02$1.96$0.07$0.14$0.07
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.04$0.01$2.03$0.08$0.16$0.09
2016Detailed filing. Detailed filing data is available for this year.$2.13$0.01$2.12$0.08$0.12$0.04
2015Detailed filing. Detailed filing data is available for this year.$2.17$0.01$2.16$0.08$0.12$0.05
2014Detailed filing. Detailed filing data is available for this year.$2.22$0.02$2.21$0.08$0.12$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.39$0.02$2.38$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$0.02$2.29$0.25
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$97,428
Mission and Program Overview

Mission

To provide low income housing.

To provide low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,646,262$1,589,205▼ $57,057
Savings and Temporary Cash Investments$65,197$61,673▼ $3,524
Prepaid Expenses and Deferred Charges$8,061$7,606▼ $455
Total Assets$1,722,128$1,661,437▼ $60,691
Other Assets Total$2,608$2,953▲ $345
Liabilities
Accounts Payable and Accrued Expenses$111,784$124,479▲ $12,695
Deferred Revenue$4,739$4,470▼ $269
Other Liabilities$2,608$2,953▲ $345
Total Liabilities$119,131$131,902▲ $12,771
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,602,997$1,529,535▼ $73,462
Total Net Assets Fund Balance$1,602,997$1,529,535▼ $73,462
Total Liabilities and Net Assets / Fund Balance$1,722,128$1,661,437▼ $60,691

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,522,713$759,570$2,282,283
Land$66,492-$66,492
Equipment$0$6,994$6,994
Compensation and Service Providers

Employees

NameTitleOtherTotal
Lashaun WoodsEx-officio & Geminus CFO$106,638$106,638

Board Members and Trustees

NameTitle
Carla HouckChair
Linda JonaitisVice Chair
Carol DrasgaBoard Member
Daniel KleinBoard Member
Danny LackeyBoard Member
Donald LevinsonBoard Member
Gary JohnsonBoard Member
Jonathan PetersenBoard Member
Madriel TerrellBoard Member
THOMAS O'DONNELLBoard Member
Gina JonesBoard Member Partial Term
Terrence QuinnBoard Member Partial Term
Judith K SikoraEx-officio & Geminus CFO Partial Yr
William TrowbridgeEx-officio & Regional CEO
Dr Amy HanSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$43,637
Program Service Revenue
$53,760
Investment Income
$31
Other Revenue
$0
Change in Net Assets
$-73,462

Audited Revenue Reconciliation

Revenue per Audited Statements
$97,428
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$97,428
Total Revenue per Form 990
$97,428
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$170,890
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$57,057--$57,057
Other Expenses$36,527--$36,527
Occupancy$30,829--$30,829
Insurance$13,494--$13,494
Fees for Services Management-$9,916-$9,916
Fees for Services Accounting-$9,627-$9,627
Office Expenses$4,666$3,653-$8,319
Fees for Services Other$5,121--$5,121
Total Functional Expenses$147,694$23,196$0$170,890

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$170,890
Total Expenses per Audited Statements$170,890
Total Expenses per Form 990$170,890
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 Deposits Held in Trust$2,953
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Management services were provided during the year by geminus corporation. Additionally, judith k. Sikora listed on part vii, section a, was compensated by geminus corporation.

Form 990, Part VI, Section A, Line 7A

The board of directors of regional mental health center, inc. Must approve all directors appointed to the governing board.

Form 990, Part VI, Section B, Line 11B

The process of reviewing the form 990 includes a detailed review by the chief financial officer of geminus corporation. The governing body receives and reviews the form 990, as ultimately filed with the irs, prior to filing.

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

The board is educated about the policy at the annual combined board retreat. All board members are required to sign a conflict of interest statement annually. Members are asked to recuse themselves if they are in any conflict with the matter being reviewed.

Form 990, Part VI, Section B, Line 15

The president/ceo is evaluated by the board of directors of regional mental health center's evaluation committee. Information about performance, comparable data and any other information requested is provided. The committee recommendation is reviewed and acted upon by the full board at the next regular meeting. Other employees have job descriptions and annual reviews by their supervisor, which are documented in each employee's personnel file.

Form 990, Part VI, Section C, Line 19

The organization makes the governing documents, conflict of interest policy, or financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Watertower South Inc
EIN
30-0449524
Phone
2197571921
Address
8400 LOUISIANA ST, MERRILLVILLE, IN 46410-6385

Signing Officer

Name
Lashaun Woods
Title
Chief Financial Officer
Phone
2197571921
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lashaun Woods
Formed
2007
Legal Domicile
In
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Blue & Co LLC
Address
500 N MERIDIAN ST SUITE 200, INDIANAPOLIS, IN 46204
Preparer
Emilie M Knieriem CPA
Phone
3176334705
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The board of directors assumes responsibiltiy for oversight of the audit of the financial statements.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the corporation and recognize a tax liability if the corporation has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the corporation, and has concluded that as of june 30, 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. The corporation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Raw XML AppendixShowing 400 of 657 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/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER PARTIAL TERM
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER PARTIAL TERM
IRS990/Form990PartVIISectionAGrp/TitleTxt13EX-OFFICIO & GEMINUS CFO PARTIAL YR
IRS990/Form990PartVIISectionAGrp/TitleTxt14EX-OFFICIO & GEMINUS CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt15EX-OFFICIO & REGIONAL CEO
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IRS990/IncludeFIN48FootnoteInd01
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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IRS990/Organization501c3Ind0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01522713
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0759570
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02282283
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06994
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06994
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0170890
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt066492
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02953
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS HELD IN TRUST
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt097428
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CORPORATION AND RECOGNIZE A TAX LIABILITY IF THE CORPORATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY VARIOUS FEDERAL AND STATE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt0170890
IRS990ScheduleD/TotalLiabilityAmt02953
IRS990ScheduleD/TotalRevenuePerForm990Amt097428
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt097428
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0170890
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0261715
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1202173
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt023503
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt115847
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt038152
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt1259

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