Civic Intelligence

Somerset Home Ownership Commission Inc.

990 • Fiscal year 2021 • EIN 31-1540596

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

Organization ProfileN/A
PO Box 449Somerset, KY 42502

(606) 679-1332

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.78x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

99th percentile

6.70x

Higher debt load relative to revenue than 99% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

87th percentile

50%

Higher net margin than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

25th percentile

-11%

Faster asset growth than 25% of similar nonprofits.

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

Revenue Growth

68th percentile

32%

Faster revenue growth than 68% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$291,156

Down $37,262 (-11%) from 2020

Net Assets

Up

$63,360

Up $17,094 (+37%) from 2020

Liabilities

Down

$227,796

Down $54,356 (-19%) from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin87th percentile

Revenue

Up

$34,000

Up $8,176 (+32%) from 2020

Expenses

Up

$16,906

Up $164 (+1.0%) from 2020

Net Income

Up

$17,094

Up $8,012 (+88%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$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

2021

Assets$291,156
Liabilities$227,796
Net Assets$63,360
Open 2021 Filing

Operations Trend

Revenue Growth68th percentile

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$34,000
Expenses$16,906
Net Income$17,094
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$34,000
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
Cash and Non-Interest-Bearing Accounts$107,748$129,389▲ $21,641
Other Notes and Loans Receivable, Net$165,740$109,713▼ $56,027
Inventories for Sale or Use$43,550$43,550→ $0
Prepaid Expenses and Deferred Charges$7,188$4,312▼ $2,876
Accounts Receivable$4,192$4,192→ $0
Total Assets$328,418$291,156▼ $37,262
Liabilities
Mortgage Notes Payable Secured by Investment Property$268,182$213,828▼ $54,354
Other Liabilities$8,641$8,641→ $0
Accounts Payable and Accrued Expenses$5,329$5,327▼ $2
Total Liabilities$282,152$227,796▼ $54,356
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$46,266$63,360▲ $17,094
Total Net Assets Fund Balance$46,266$63,360▲ $17,094
Total Liabilities and Net Assets / Fund Balance$328,418$291,156▼ $37,262
Compensation and Service Providers
Top Officer Pay77th percentile

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
$34,000
Change in Net Assets
$17,094

Audited Revenue Reconciliation

Revenue per Audited Statements
$34,000
Total Revenue per Audited Statements
$34,000
Total Revenue per Form 990
$34,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,906
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$12,051--$12,051
Insurance$2,875--$2,875
Fees for Services Accounting-$1,365-$1,365
Other Expenses$615--$615
Total Functional Expenses$15,541$1,365$0$16,906

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,906
Total Expenses per Audited Statements$16,906
Total Expenses per Form 990$16,906
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
2022-11-14
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
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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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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/PreparationDt02022-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JON R HARVILLE CPA
ReturnHeader/ReturnTs02022-11-15T16:33:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0FRANCES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SMITH
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

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

Open filing
Assets
$291,156
Liabilities
$227,796
Net assets
$63,360
Revenue
$34,000
Expenses
$16,906
Net income
$17,094
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
2021Detailed filing. Detailed filing data is available for this year.$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