Civic Intelligence

Somerset Home Ownership

EIN 31-1540596 • 501(c)3 • Somerset, KY

Profile

The commission works to provide opportunitites for the purchase of affordable single-family housing and the revitalization of neighborhoods.

PO Box 449Somerset, KY 42502

n/A

Siviq Scores

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

Liabilities / Assets

94th percentile

1.04x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

34th percentile

-17%

Faster asset growth than 34% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Assets

Down

$184,686

Down $37,884 (-17%) from 2023

Liabilities

Down

$191,725

Down $12,402 (-6.1%) from 2023

Net Assets

Down

-$7,039

Down $25,482 (-138%) from 2023

Revenue

Flat

$0

Flat from 2023

Expenses

Down

$25,482

Down $3,319 (-12%) from 2023

Net Income

Up

-$25,482

Up $3,319 (+12%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $1,243,108Liabilities 2011: $820,997Net Assets 2011: $422,1112011Assets 2012: $819,223Liabilities 2012: $758,679Net Assets 2012: $60,5442012Assets 2013: $584,691Liabilities 2013: $643,155Net Assets 2013: -$58,4642013Assets 2014: $556,483Liabilities 2014: $592,647Net Assets 2014: -$36,1642014Assets 2015: $525,371Liabilities 2015: $574,608Net Assets 2015: -$49,2372015Assets 2016: $440,154Liabilities 2016: $442,870Net Assets 2016: -$2,7162016Assets 2017: $390,239Liabilities 2017: $414,893Net Assets 2017: -$24,6542017Assets 2018: $420,661Liabilities 2018: $384,245Net Assets 2018: $36,4162018Assets 2019: $334,775Liabilities 2019: $297,591Net Assets 2019: $37,1842019Assets 2020: $328,418Liabilities 2020: $282,152Net Assets 2020: $46,2662020Assets 2021: $291,156Liabilities 2021: $227,796Net Assets 2021: $63,3602021Assets 2022: $263,148Liabilities 2022: $215,904Net Assets 2022: $47,2442022Assets 2023: $222,570Liabilities 2023: $204,127Net Assets 2023: $18,4432023Assets 2024: $184,686Liabilities 2024: $191,725Net Assets 2024: -$7,0392024

Highlighted filing

2024

Assets$184,686
Liabilities$191,725
Net Assets-$7,039

Operations Trend

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

$200K$100K$0-$100K-$200KExpenses 2011: $70,6982011Expenses 2012: $93,0692012Revenue 2013: $45,005Expenses 2013: $164,013Net Income 2013: -$119,0082013Revenue 2014: $32,593Expenses 2014: $10,293Net Income 2014: $22,3002014Revenue 2015: $29,300Expenses 2015: $42,373Net Income 2015: -$13,0732015Revenue 2016: $81,016Expenses 2016: $34,495Net Income 2016: $46,5212016Revenue 2017: $17,739Expenses 2017: $39,677Net Income 2017: -$21,9382017Revenue 2018: $85,318Expenses 2018: $24,248Net Income 2018: $61,0702018Revenue 2019: $30,735Expenses 2019: $29,967Net Income 2019: $7682019Revenue 2020: $25,824Expenses 2020: $16,742Net Income 2020: $9,0822020Revenue 2021: $34,000Expenses 2021: $16,906Net Income 2021: $17,0942021Revenue 2022: $50Expenses 2022: $16,166Net Income 2022: -$16,1162022Revenue 2023: $0Expenses 2023: $28,801Net Income 2023: -$28,8012023Revenue 2024: $0Expenses 2024: $25,482Net Income 2024: -$25,4822024

Highlighted filing

2024

Revenue$0
Expenses$25,482
Net Income-$25,482

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.19$0.01$0.00$0.03$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.20$0.02$0.00$0.03$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.22$0.05$0.00$0.02$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.23$0.06$0.03$0.02$0.02
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.28$0.05$0.03$0.02$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.33$0.30$0.04$0.03$0.03$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.42$0.38$0.04$0.09$0.02$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.41$0.02$0.02$0.04$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.44$0.44$0.00$0.08$0.03$0.05
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.53$0.57$0.05$0.03$0.04$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.56$0.59$0.04$0.03$0.01$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.58$0.64$0.06$0.05$0.16$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.76$0.06$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.24$0.82$0.42$0.07
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2020 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$25,824
Mission and Program Overview

Mission

The commission works to provide opportunitites for the purchase of affordable single-family housing and the revitalization of neighborhoods.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$188,817$165,740▼ $23,077
Cash and Non-Interest-Bearing Accounts$98,216$107,748▲ $9,532
Inventories for Sale or Use$43,550$43,550→ $0
Prepaid Expenses and Deferred Charges-$7,188-
Accounts Receivable$4,192$4,192→ $0
Total Assets$334,775$328,418▼ $6,357
Liabilities
Mortgage Notes Payable Secured by Investment Property$282,100$268,182▼ $13,918
Other Liabilities$10,163$8,641▼ $1,522
Accounts Payable and Accrued Expenses$5,328$5,329▲ $1
Total Liabilities$297,591$282,152▼ $15,439
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$37,184$46,266▲ $9,082
Total Net Assets Fund Balance$37,184$46,266▲ $9,082
Total Liabilities and Net Assets / Fund Balance$334,775$328,418▼ $6,357
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ken HayfordPresident
Bernice JonesDirector
Scarlett JasperDirector
Frances SmithSecretary/tr
Barbara ChaneyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$25,824
Change in Net Assets
$9,082

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,824
Total Revenue per Audited Statements
$25,824
Total Revenue per Form 990
$25,824
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,742
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
Interest$13,919--$13,919
Insurance$1,438--$1,438
Fees for Services Accounting-$512-$512
Fees for Services Legal-$93-$93
Other Expenses$15--$15
Total Functional Expenses$16,137$605$0$16,742

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,742
Total Expenses per Audited Statements$16,742
Total Expenses per Form 990$16,742
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 Audit Fees$4,680
Accrued Interest$3,961
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Somerset Home Ownership
EIN
31-1540596
Phone
6066791332
Address
PO BOX 449, SOMERSET, KY 42502

Signing Officer

Name
Frances Smith
Title
Secretary/treasurer
Phone
6066791332
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frances Smith
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Evans Harville Atwell & Co Cpas Pllc
Address
PO BOX 1309, SOMERSET, KY 42502-1309
Preparer
Jon R Harville CPA
Phone
6066795090
Raw XML Appendix304 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/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0THE COMMISSION WORKS TO PROVIDE OPPORTUNITITES FOR THE PURCHASE OF AFFORDABLE SINGLE-FAMILY HOUSING AND THE REVITALIZATION OF NEIGHBORHOODS.
IRS990/BackupWthldComplianceInd0false
IRS990/BooksInCareOfDetail/PersonNm0SOMERSET HOME OWNERSHIP COMMISSION
IRS990/BooksInCareOfDetail/PhoneNum06066791332
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0PO BOX 449
IRS990/BooksInCareOfDetail/USAddress/CityNm0SOMERSET
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0KY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd042502
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IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
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IRS990/DescribedInSection501c3Ind0true
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IRS990/ForeignActivitiesInd0false
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
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IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY/TR
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IRS990/FSAuditedInd0false
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IRS990/GamingActivitiesInd0false
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IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt05
IRS990/IndoorTanningServicesInd0false
IRS990/InsuranceGrp/ProgramServicesAmt01438
IRS990/InsuranceGrp/TotalAmt01438
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IRS990/InventoriesForSaleOrUseGrp/BOYAmt043550
IRS990/InventoriesForSaleOrUseGrp/EOYAmt043550
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE COMMISSION WORKS TO PROVIDE OPPORTUNITITES FOR THE PURCHASE OF AFFORDABLE SINGLE-FAMILY HOUSING AND THE REVITALIZATION OF NEIGHBORHOODS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0282100
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc1LICENSES
IRS990/OtherExpensesGrp/ProgramServicesAmt0765
IRS990/OtherExpensesGrp/ProgramServicesAmt115
IRS990/OtherExpensesGrp/TotalAmt0765
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IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt025824
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt025824
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt07188
IRS990/PrincipalOfficerNm0FRANCES SMITH
IRS990/ProfessionalFundraisingInd0false
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST
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IRS990/TotalProgramServiceExpensesAmt016137
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt025824
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt025824
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0334775
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0328418
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0504 MEADOWLARK DRIVE
IRS990/USAddress/CityNm0SOMERSET
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042503
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FRANCES SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06066791332
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOMERSET HOME OWNERSHIP
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMMISSION INC
ReturnHeader/Filer/BusinessNameControlTxt0SOME
ReturnHeader/Filer/EIN0311540596
ReturnHeader/Filer/PhoneNum06066791332
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 449
ReturnHeader/Filer/USAddress/CityNm0SOMERSET
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042502
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205372898
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EVANS HARVILLE ATWELL & CO CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1309
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SOMERSET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0425021309
ReturnHeader/PreparerPersonGrp/PhoneNum06066795090
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JON R HARVILLE CPA
ReturnHeader/ReturnTs02021-11-15T15:06:51-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0FRANCES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SMITH
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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