Civic Intelligence

Independence Industries DBA Beech Tree Apartments

990 • Fiscal year 2015 • EIN 31-0915296

Oct 01, 2014 to Sep 30, 2015 • Filed on Jan 13, 2016

Organization ProfileN/A
1365 Yauger RoadMount Vernon, OH 43050

(330) 239-4474

Siviq Scores

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

Liabilities / Assets

97th percentile

1.73x

Higher debt load relative to assets than 97% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

95th percentile

3.00x

Higher debt load relative to revenue than 95% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

23rd percentile

-7.9%

Higher net margin than 23% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

23rd percentile

-6.2%

Faster asset growth than 23% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

46th percentile

1.5%

Faster revenue growth than 46% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$899,536

Down $59,138 (-6.2%) from 2014

Net Assets

Down

-$654,879

Down $41,163 (-6.7%) from 2014

Liabilities

Down

$1,554,415

Down $17,975 (-1.1%) from 2014

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin23rd percentile

Revenue

Up

$518,224

Up $7,584 (+1.5%) from 2014

Expenses

Down

$559,387

Down $2,055 (-0.4%) from 2014

Net Income

Up

-$41,163

Up $9,639 (+19%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$2.0M$1.0M$0-$1.0MAssets 2013: $1,023,004Liabilities 2013: $1,585,918Net Assets 2013: -$562,9142013Assets 2014: $958,674Liabilities 2014: $1,572,390Net Assets 2014: -$613,7162014Assets 2015: $899,536Liabilities 2015: $1,554,415Net Assets 2015: -$654,8792015Assets 2016: $843,097Liabilities 2016: $1,528,876Net Assets 2016: -$685,7792016Assets 2017: $766,036Liabilities 2017: $1,513,090Net Assets 2017: -$747,0542017Assets 2018: $694,173Liabilities 2018: $1,492,683Net Assets 2018: -$798,5102018Assets 2019: $645,408Liabilities 2019: $1,453,689Net Assets 2019: -$808,2812019Assets 2020: $646,423Liabilities 2020: $1,438,800Net Assets 2020: -$792,3772020Assets 2021: $657,048Liabilities 2021: $1,412,495Net Assets 2021: -$755,4472021Assets 2022: $606,167Liabilities 2022: $1,383,647Net Assets 2022: -$777,4802022Assets 2023: $616,335Liabilities 2023: $1,356,120Net Assets 2023: -$739,7852023Assets 2024: $634,644Liabilities 2024: $1,326,940Net Assets 2024: -$692,2962024

Highlighted filing

2015

Assets$899,536
Liabilities$1,554,415
Net Assets-$654,879
Open 2015 Filing

Operations Trend

Revenue Growth46th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2013: $535,9442013Revenue 2014: $510,640Expenses 2014: $561,442Net Income 2014: -$50,8022014Revenue 2015: $518,224Expenses 2015: $559,387Net Income 2015: -$41,1632015Revenue 2016: $525,091Expenses 2016: $555,991Net Income 2016: -$30,9002016Revenue 2017: $534,257Expenses 2017: $595,532Net Income 2017: -$61,2752017Revenue 2018: $543,112Expenses 2018: $594,568Net Income 2018: -$51,4562018Revenue 2019: $561,807Expenses 2019: $571,578Net Income 2019: -$9,7712019Revenue 2020: $558,636Expenses 2020: $597,405Net Income 2020: -$38,7692020Revenue 2021: $570,206Expenses 2021: $546,284Net Income 2021: $23,9222021Revenue 2022: $567,923Expenses 2022: $589,956Net Income 2022: -$22,0332022Revenue 2023: $591,976Expenses 2023: $554,281Net Income 2023: $37,6952023Revenue 2024: $621,840Expenses 2024: $574,351Net Income 2024: $47,4892024

Highlighted filing

2015

Revenue$518,224
Expenses$559,387
Net Income-$41,163
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Jan 13, 2016
Return Version
2014v6.0
Gross Receipts
$518,224
Mission and Program Overview

Mission

Housing for the elderly and disabled people

Housing for elderly and handicapped people

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$466,963$450,612▼ $16,351
Intangible Assets$67,232$64,934▼ $2,298
Prepaid Expenses and Deferred Charges$41,196$27,743▼ $13,453
Cash and Non-Interest-Bearing Accounts$2,456$2,219▼ $237
Total Assets$958,674$899,536▼ $59,138
Other Assets Total$380,827$354,028▼ $26,799
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,497,687$1,478,675▼ $19,012
Other Liabilities$67,503$68,539▲ $1,036
Accounts Payable and Accrued Expenses$7,200$7,201▲ $1
Total Liabilities$1,572,390$1,554,415▼ $17,975
Net Assets / Fund Balance
Unrestricted Net Assets$-613,716$-654,879▼ $41,163
Total Net Assets Fund Balance$-613,716$-654,879▼ $41,163
Total Liabilities and Net Assets / Fund Balance$958,674$899,536▼ $59,138

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$332,574$1,759,416$2,091,990
Equipment$23,582$258,606$282,188
Other Land Buildings$50,656$217,157$267,813
Land$43,800-$43,800
Other Assets Org$38,936--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Catherine HenthornPresident
James ZakVice President
Brent Nimeth MdTrustee
Shar ShinglerSecretary
Annette CastoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$517,775
Investment Income
$449
Other Revenue
$0
Change in Net Assets
$-41,163
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$447,694
Salaries, Compensation, and Employee Benefits$111,693
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$116,461--$116,461
Other Salaries and Wages$100,875--$100,875
Interest$97,887--$97,887
All Other Expenses$39,602--$39,602
Fees for Services Management$25,852--$25,852
Insurance$16,211--$16,211
Other Expenses$12,255--$12,255
Payroll Taxes$10,818--$10,818
Office Expenses$7,727--$7,727
Fees for Services Accounting$5,900--$5,900
Advertising$3,996--$3,996
Total Functional Expenses$559,387$0$0$559,387
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
Accrued Liabilities$34,315
Mortgage Payable - Current Portion$19,012
Tenant Security Deposits$15,212
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 A, Line 8B

“No additional committees exist with authority to act on behalf of the governing body. Therefore, no meetings are held.”

Form 990, Part VI, Section B, Line 11

“Completed tax return is provided to the board for review and signature before the return is filed.”

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

“The organization monitors potential conflicts of interests through discussions at quarterly board meetings.”

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

“Compensation of key employees is discussed and approved by the board of directors.”

Form 990, Part VI, Section C, Line 18

“The organization makes its form 1023 and form 990 available for public inspection upon request.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Independence Industries Dba Beech Tree Apartments
EIN
31-0915296
Phone
3302394474
Address
1365 YAUGER ROAD, MOUNT VERNON, OH 43050

Signing Officer

Name
Catherine Henthorn
Title
President
Phone
7403970276
Signed
2016-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Catherine Henthorn
Formed
1978
Legal Domicile
Oh
Voting Board Members
4
Independent Board Members
4
Employees
3
Volunteers
0

Preparer

Firm
Rw Corwin & Company Inc
Address
PO BOX 6901218 HIGH STREET, WADSWORTH, OH 44282-0690
Preparer
Rw Corwin Company Inc
Phone
3303361004
Supplemental Narrative

Financial Statement Notes

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Difference due to tax depreciation”

Raw XML Appendix395 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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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0510640
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0505220
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0489500
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0470499
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02494083
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0332574
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01759416
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02091990
IRS990ScheduleD/EquipmentGrp/BookValueAmt023582
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0258606
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0282188
IRS990ScheduleD/LandGrp/BookValueAmt043800
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt043800
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt016446
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt122834
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2273989
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31823
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt438936
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MORTGAGE ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3PAINTING RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4RESIDUAL RECEIPTS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt050656
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0217157
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0267813
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt034315
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt115212
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt219012
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MORTGAGE PAYABLE - CURRENT PORTION
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DIFFERENCE DUE TO TAX DEPRECIATION
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0450612
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0354028
IRS990ScheduleD/TotalLiabilityAmt068539
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO ADDITIONAL COMMITTEES EXIST WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, NO MEETINGS ARE HELD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPLETED TAX RETURN IS PROVIDED TO THE BOARD FOR REVIEW AND SIGNATURE BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MONITORS POTENTIAL CONFLICTS OF INTERESTS THROUGH DISCUSSIONS AT QUARTERLY BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION OF KEY EMPLOYEES IS DISCUSSED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0958674
IRS990/TotalAssetsEOYAmt0899536
IRS990/TotalAssetsGrp/BOYAmt0958674
IRS990/TotalAssetsGrp/EOYAmt0899536
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0559387
IRS990/TotalFunctionalExpensesGrp/TotalAmt0559387
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01572390
IRS990/TotalLiabilitiesEOYAmt01554415
IRS990/TotalLiabilitiesGrp/BOYAmt01572390
IRS990/TotalLiabilitiesGrp/EOYAmt01554415
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-613716
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-654879
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0559387
IRS990/TotalProgramServiceRevenueAmt0517775
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0518224
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0518224
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0958674
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0899536
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-613716
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-654879
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01365 YAUGER ROAD
IRS990/USAddress/CityNm0MOUNT VERNON
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd043050
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CATHERINE HENTHORN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07403970276
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-01-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDEPENDENCE INDUSTRIES DBA BEECH TREE APARTMENTS
ReturnHeader/Filer/BusinessNameControlTxt0INDE
ReturnHeader/Filer/EIN0310915296
ReturnHeader/Filer/PhoneNum03302394474
ReturnHeader/Filer/USAddress/AddressLine1Txt01365 YAUGER ROAD
ReturnHeader/Filer/USAddress/CityNm0MOUNT VERNON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd043050
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341630230
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RW CORWIN & COMPANY INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 6901218 HIGH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WADSWORTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0442820690
ReturnHeader/PreparerPersonGrp/PhoneNum03303361004
ReturnHeader/PreparerPersonGrp/PreparationDt02016-01-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RW CORWIN COMPANY INC
ReturnHeader/ReturnTs02016-02-02T12:32:49-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-10-01
ReturnHeader/TaxPeriodEndDt02015-09-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$899,536
Liabilities
$1,554,415
Net assets
-$654,879
Revenue
$518,224
Expenses
$559,387
Net income
-$41,163
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.63$1.33$0.69$0.62$0.57$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.62$1.36$0.74$0.59$0.55$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.61$1.38$0.78$0.57$0.59$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.66$1.41$0.76$0.57$0.55$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.65$1.44$0.79$0.56$0.60$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.65$1.45$0.81$0.56$0.57$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.69$1.49$0.80$0.54$0.59$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.77$1.51$0.75$0.53$0.60$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.84$1.53$0.69$0.53$0.56$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.90$1.55$0.65$0.52$0.56$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.96$1.57$0.61$0.51$0.56$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$1.59$0.56$0.54