Civic Intelligence

Independence Industries DBA Beech Tree Apartments

990 • Fiscal year 2021 • EIN 31-0915296

Oct 01, 2020 to Sep 30, 2021 • Filed on Feb 09, 2022

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

98th percentile

2.15x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

95th percentile

2.48x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

36th percentile

4.2%

Higher net margin than 36% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

33rd percentile

1.6%

Faster asset growth than 33% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

37th percentile

2.1%

Faster revenue growth than 37% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$657,048

Up $10,625 (+1.6%) from 2020

Net Assets

Up

-$755,447

Up $36,930 (+4.7%) from 2020

Liabilities

Down

$1,412,495

Down $26,305 (-1.8%) from 2020

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin36th percentile

Revenue

Up

$570,206

Up $11,570 (+2.1%) from 2020

Expenses

Down

$546,284

Down $51,121 (-8.6%) from 2020

Net Income

Up

$23,922

Up $62,691 (+162%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2021

Assets$657,048
Liabilities$1,412,495
Net Assets-$755,447
Open 2021 Filing

Operations Trend

Revenue Growth37th 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

2021

Revenue$570,206
Expenses$546,284
Net Income$23,922
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Feb 9, 2022
Return Version
2020v4.2
Gross Receipts
$570,206
Mission and Program Overview

Mission

Housing for the elderly and disabled people

Housing for elderly and handicapped persons

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$362,504$339,076▼ $23,428
Intangible Assets$53,444$51,146▼ $2,298
Prepaid Expenses and Deferred Charges$27,696$35,717▲ $8,021
Cash and Non-Interest-Bearing Accounts$9,845$7,029▼ $2,816
Total Assets$646,423$657,048▲ $10,625
Other Assets Total$192,934$224,080▲ $31,146
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,362,722$1,334,671▼ $28,051
Other Liabilities$76,078$77,824▲ $1,746
Total Liabilities$1,438,800$1,412,495▼ $26,305
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-792,377$-755,447▲ $36,930
Total Net Assets Fund Balance$-792,377$-755,447▲ $36,930
Total Liabilities and Net Assets / Fund Balance$646,423$657,048▲ $10,625

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$215,000$2,017,309$2,232,309
Other Land Buildings$70,205$518,583$588,788
Equipment$10,071$335,808$345,879
Land$43,800-$43,800
Other Assets Org$17,513--
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$570,147
Investment Income
$59
Other Revenue
$0
Change in Net Assets
$23,922
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$447,239
Salaries, Compensation, and Employee Benefits$99,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$91,667--$91,667
Interest$89,369--$89,369
Depreciation Depletion$86,532--$86,532
Fees for Services Management$28,394--$28,394
Insurance$25,321--$25,321
Other Expenses$18,517--$18,517
All Other Expenses$15,055--$15,055
Fees for Services Accounting$8,380--$8,380
Payroll Taxes$7,378--$7,378
Advertising$4,801--$4,801
Office Expenses$3,726--$3,726
Total Functional Expenses$546,284$0$0$546,284
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$34,005
Mortgage Payable - Current Portion$28,051
Tenant Deposits$15,768
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
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 11B

“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 employee is discussed and approved by the board of directors.”

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
EIN
31-0915296
Phone
3302394474
Address
1365 YAUGER ROAD, MOUNT VERNON, OH 43050

Signing Officer

Name
Catherine Henthorn
Title
President
Phone
7403970276
Signed
2022-02-09
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
0
Volunteers
0

Preparer

Firm
Rw Corwin & Company Inc
Address
1218 HIGH STREET, WADSWORTH, OH 44282-0690
Preparer
Rw Corwin Company Inc
Phone
3303361004
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Book to tax depreciation difference 13,008.”

Raw XML Appendix375 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.

Path#Value
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IRS990/AnnualDisclosureCoveredPrsnInd00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0570206
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
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IRS990/MoreThan5000KToOrgInd00
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROWS AND RESERVES
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MORTGAGE PAYABLE - CURRENT PORTION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANT DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0339076
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0224080
IRS990ScheduleD/TotalLiabilityAmt077824
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 EMPLOYEE IS DISCUSSED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK TO TAX DEPRECIATION DIFFERENCE 13,008.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0646423
IRS990/TotalAssetsEOYAmt0657048
IRS990/TotalAssetsGrp/BOYAmt0646423
IRS990/TotalAssetsGrp/EOYAmt0657048
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0546284
IRS990/TotalFunctionalExpensesGrp/TotalAmt0546284
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01438800
IRS990/TotalLiabilitiesEOYAmt01412495
IRS990/TotalLiabilitiesGrp/BOYAmt01438800
IRS990/TotalLiabilitiesGrp/EOYAmt01412495
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-792377
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-755447
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0546284
IRS990/TotalProgramServiceRevenueAmt0570147
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0570206
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0570206
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0646423
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0657048
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CATHERINE HENTHORN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07403970276
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-02-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDEPENDENCE INDUSTRIES
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DBA 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/AddressLine1Txt01218 HIGH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WADSWORTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0442820690
ReturnHeader/PreparerPersonGrp/PhoneNum03303361004
ReturnHeader/PreparerPersonGrp/PreparationDt02022-02-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RW CORWIN COMPANY INC
ReturnHeader/ReturnTs02022-05-16T10:12:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CATHERINE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HENTHORN
ReturnHeader/TaxPeriodBeginDt02020-10-01
ReturnHeader/TaxPeriodEndDt02021-09-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$657,048
Liabilities
$1,412,495
Net assets
-$755,447
Revenue
$570,206
Expenses
$546,284
Net income
$23,922
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