Civic Intelligence

Somerset Lane Inc.

990 • Fiscal year 2018 • EIN 31-1048542

Jan 01, 2018 to Dec 31, 2018 • Filed on May 03, 2019

Organization ProfileN/A
2700 E Dublin-Granville RdColumbus, OH 43231

(614) 818-4640

Siviq Scores

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

Liabilities / Assets

97th percentile

1.63x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

3.58x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

15th percentile

-16%

Higher net margin than 15% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

19th percentile

-8.6%

Faster asset growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

2.9%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$878,621

Down $82,533 (-8.6%) from 2017

Net Assets

Down

-$550,776

Down $65,306 (-13%) from 2017

Liabilities

Down

$1,429,397

Down $17,227 (-1.2%) from 2017

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin15th percentile

Revenue

Up

$398,895

Up $11,249 (+2.9%) from 2017

Expenses

Up

$464,201

Up $70,403 (+18%) from 2017

Net Income

Down

-$65,306

Down $59,154 (-962%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$2.0M$1.0M$0-$1.0MAssets 2016: $994,168Liabilities 2016: $1,473,486Net Assets 2016: -$479,3182016Assets 2017: $961,154Liabilities 2017: $1,446,624Net Assets 2017: -$485,4702017Assets 2018: $878,621Liabilities 2018: $1,429,397Net Assets 2018: -$550,7762018Assets 2019: $838,633Liabilities 2019: $1,393,176Net Assets 2019: -$554,5432019Assets 2020: $812,202Liabilities 2020: $1,380,104Net Assets 2020: -$567,9022020Assets 2021: $777,796Liabilities 2021: $1,333,790Net Assets 2021: -$555,9942021Assets 2022: $730,873Liabilities 2022: $1,359,109Net Assets 2022: -$628,2362022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2018

Assets$878,621
Liabilities$1,429,397
Net Assets-$550,776
Open 2018 Filing

Operations Trend

Revenue Growth48th percentile

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

$600K$400K$200K$0-$200KRevenue 2016: $382,050Expenses 2016: $359,863Net Income 2016: $22,1872016Revenue 2017: $387,646Expenses 2017: $393,798Net Income 2017: -$6,1522017Revenue 2018: $398,895Expenses 2018: $464,201Net Income 2018: -$65,3062018Revenue 2019: $400,374Expenses 2019: $404,143Net Income 2019: -$3,7692019Revenue 2020: $414,021Expenses 2020: $427,378Net Income 2020: -$13,3572020Revenue 2021: $420,309Expenses 2021: $408,401Net Income 2021: $11,9082021Revenue 2022: $413,348Expenses 2022: $485,590Net Income 2022: -$72,2422022Revenue 2023: $244,670Expenses 2023: $415,007Net Income 2023: -$170,3372023

Highlighted filing

2018

Revenue$398,895
Expenses$464,201
Net Income-$65,306
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 3, 2019
Return Version
2018v3.1
Gross Receipts
$398,895
Mission and Program Overview

Mission

The nonprofit organization owns real estate in the form of an apartment complex for the elderly & handicapped under Section 202

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$646,701$599,261▼ $47,440
Savings and Temporary Cash Investments$173,861$129,429▼ $44,432
Intangible Assets$101,758$97,876▼ $3,882
Cash and Non-Interest-Bearing Accounts$25,453$44,562▲ $19,109
Prepaid Expenses and Deferred Charges$10,525$4,664▼ $5,861
Accounts Receivable$2,856$2,829▼ $27
Total Assets$961,154$878,621▼ $82,533
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,393,330$1,363,964▼ $29,366
Accounts Payable and Accrued Expenses$39,741$50,411▲ $10,670
Other Liabilities$13,553$15,022▲ $1,469
Total Liabilities$1,446,624$1,429,397▼ $17,227
Net Assets / Fund Balance
Unrestricted Net Assets$-485,470$-550,776▼ $65,306
Total Net Assets Fund Balance$-485,470$-550,776▼ $65,306
Total Liabilities and Net Assets / Fund Balance$961,154$878,621▼ $82,533

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$497,278$918,516-
Other Land Buildings$9,727$182,952-
Land$85,766--
Equipment$6,490$207,702-
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
William MoorheadPresident
James W PhiefferTrustee
William MoorheadTrustee
Amy JohnstonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$398,717
Investment Income
$178
Other Revenue
$0
Change in Net Assets
$-65,306

Audited Revenue Reconciliation

Revenue per Audited Statements
$398,894
Revenue Not Reported on Financial Statements
$1
Other Revenue Adjustments
$1
Total Revenue per Audited Statements
$398,894
Total Revenue per Form 990
$398,895
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$387,374
Salaries, Compensation, and Employee Benefits$76,827
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$42,812$26,067$0$68,879
All Other Expenses$65,723$0$0$65,723
Interest$58,338$0$0$58,338
Depreciation Depletion$51,322$0$0$51,322
Fees for Services Management$0$30,069$0$30,069
Insurance$12,220$0$0$12,220
Fees for Services Accounting$0$11,198$0$11,198
Payroll Taxes$4,332$2,515$0$6,847
Information Technology$3,588$0$0$3,588
Other Expenses$3,337$0$0$3,337
Other Employee Benefits$84$1,017$0$1,101
Office Expenses$0$893$0$893
Advertising$595$0$0$595
Travel$40$0$0$40
Total Functional Expenses$360,188$104,013$0$464,201

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$464,201
Expenses per Audited Statements$464,200
Total Expenses per Audited Statements$464,200
Expenses Not Reported on Financial Statements$1
Other Expense Adjustments$1
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$11,923
Unearned Revenue$3,099
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Somerset Lane Inc
EIN
31-1048542
Phone
6148184640
Address
2700 E Dublin-Granville Rd, Columbus, OH 43231

Signing Officer

Name
William Moorhead
Title
President
Phone
6148184640
Signed
2019-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Moorhead
Formed
1985
Legal Domicile
Oh
Voting Board Members
1
Independent Board Members
1
Employees
3
Volunteers
1

Preparer

Firm
Douglas L Myers & Associates
Address
650 Shawan Falls Dr Ste 200, Dublin, OH 43017-2100
Preparer
Douglas L Myers CPA
Phone
6147665138
Supplemental Narrative

Additional Explanations

Pt VI, Line 3

“The organization's only activity is the operation of a rental apartment complex for the elderly. The organization has entered into a management agreement, as approved by HUD, with an independent company giving the company all contractual rights to manage the rental operations.”

Pt VI, Line 11B

“The organization has a written agreement with a management company to operate its real estate activity. As the organization's managing agent, the management company is responsible for all of the financial matters relating to the rental operations including the annual audit engagement required by HUD and the preparation of Form 990. Therefore, the controller of the company reviews the annual form 990 which is prepared by a CPA firm, and an officer of the management company signs it.”

Pt VI, Line 19

“The organization's governing documents, conflict of interest policy and financial statements, as applicable, are only available to the public upon request.”

Form 990, Part IX, Line 24E

“Telephone, Internet/Cable 3235. 3235. 0. 0.”

Form 990, Part IX, Line 24E

“Real Estate Taxes 34957. 34957. 0. 0.”

Form 990, Part IX, Line 24E

“Grounds Contract/Supplies 2732. 2732. 0. 0.”

Form 990, Part IX, Line 24E

“Trash Removal 5016. 5016. 0. 0.”

Form 990, Part IX, Line 24E

“Cleaning & Maintenance 12943. 12943. 0. 0.”

Form 990, Part IX, Line 24E

“Relief Manager 1320. 1320. 0. 0.”

Form 990, Part IX, Line 24E

“Exterminating 5520. 5520. 0. 0.”

Financial Statement Notes

Pt XI, Line 4B

“Rounding”

Pt XII, Line 4B

“Rounding”

Raw XML AppendixShowing 400 of 476 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/GiftsGrantsContriRcvd170Grp/TotalAmt01915504
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0178
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0173
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0112
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0106
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0113
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0682
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99960
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.99930
IRS990ScheduleA/PublicSupportTotal170Amt01915504
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0398717
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0387473
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0381938
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0380553
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0366823
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01915504
IRS990ScheduleA/TotalSupportAmt01916186
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0497278
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0918516
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt01415794
IRS990ScheduleD/EquipmentGrp/BookValueAmt06490
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0207702
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0214192
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01
IRS990ScheduleD/ExpensesSubtotalAmt0464200
IRS990ScheduleD/LandGrp/BookValueAmt085766
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt085766
IRS990ScheduleD/OtherExpensesNotIncludedAmt01
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09727
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0182952
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0192679
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt011923
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13099
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Security Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Unearned Revenue
IRS990ScheduleD/OtherRevenuesNotIncludedAmt01
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt01
IRS990ScheduleD/RevenueSubtotalAmt0398894
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Rounding
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Rounding
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0599261
IRS990ScheduleD/TotalExpensesPerForm990Amt0464201
IRS990ScheduleD/TotalLiabilityAmt015022
IRS990ScheduleD/TotalRevenuePerForm990Amt0398895
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0398894
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0464200
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization's only activity is the operation of a rental apartment complex for the elderly. The organization has entered into a management agreement, as approved by HUD, with an independent company giving the company all contractual rights to manage the rental operations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization has a written agreement with a management company to operate its real estate activity. As the organization's managing agent, the management company is responsible for all of the financial matters relating to the rental operations including the annual audit engagement required by HUD and the preparation of Form 990. Therefore, the controller of the company reviews the annual form 990 which is prepared by a CPA firm, and an officer of the management company signs it.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization's governing documents, conflict of interest policy and financial statements, as applicable, are only available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Telephone, Internet/Cable 3235. 3235. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Real Estate Taxes 34957. 34957. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Grounds Contract/Supplies 2732. 2732. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Trash Removal 5016. 5016. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Cleaning & Maintenance 12943. 12943. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Relief Manager 1320. 1320. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Exterminating 5520. 5520. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Salem Lutheran Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0316084166
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501 (C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Scholarships for Seminaries
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0PF
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02700 E Dublin-Granville
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Columbus
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd043231
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0961154
IRS990/TotalAssetsEOYAmt0878621
IRS990/TotalAssetsGrp/BOYAmt0961154
IRS990/TotalAssetsGrp/EOYAmt0878621
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$878,621
Liabilities
$1,429,397
Net assets
-$550,776
Revenue
$398,895
Expenses
$464,201
Net income
-$65,306
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.24$0.42$0.17
2022Detailed filing. Detailed filing data is available for this year.$0.73$1.36$0.63$0.41$0.49$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.78$1.33$0.56$0.42$0.41$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.81$1.38$0.57$0.41$0.43$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.84$1.39$0.55$0.40$0.40$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.88$1.43$0.55$0.40$0.46$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.96$1.45$0.49$0.39$0.39$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.99$1.47$0.48$0.38$0.36$0.02