Civic Intelligence

Summerdale Court Inc

EIN 31-1581955 • 501(c)3 • Memphis, TN

Profile

To provide affordable quality housing to the elderly, people with disabilities and very low income people.

Refreshing map…

795 Ridge Lake BlvdMemphis, TN 38120

n/A

Siviq Scores

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

Liabilities / Assets

95th percentile

1.14x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

6.49x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

6th percentile

-62%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

24th percentile

-7.8%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

17th percentile

-21%

Faster revenue growth than 17% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Down

$507,266

Down $88,891 (-15%) from 2022

Liabilities

Up

$576,682

Up $3,386 (+0.6%) from 2022

Net Assets

Down

-$69,416

Down $92,277 (-404%) from 2022

Revenue

Down

$88,899

Down $25,409 (-22%) from 2022

Expenses

Down

$143,814

Down $17,357 (-11%) from 2022

Net Income

Down

-$54,915

Down $8,052 (-17%) from 2022

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2013: $801,761Liabilities 2013: $566,575Net Assets 2013: $235,1862013Assets 2014: $784,941Liabilities 2014: $564,823Net Assets 2014: $220,1182014Assets 2021: $653,747Liabilities 2021: $584,023Net Assets 2021: $69,7242021Assets 2022: $596,157Liabilities 2022: $573,296Net Assets 2022: $22,8612022Assets 2024: $507,266Liabilities 2024: $576,682Net Assets 2024: -$69,4162024

Highlighted filing

2024

Assets$507,266
Liabilities$576,682
Net Assets-$69,416

Operations Trend

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

$200K$100K$0-$100KRevenue 2013: $105,370Expenses 2013: $118,465Net Income 2013: -$13,0952013Revenue 2014: $101,435Expenses 2014: $116,503Net Income 2014: -$15,0682014Revenue 2021: $117,672Expenses 2021: $155,774Net Income 2021: -$38,1022021Revenue 2022: $114,308Expenses 2022: $161,171Net Income 2022: -$46,8632022Revenue 2024: $88,899Expenses 2024: $143,814Net Income 2024: -$54,9152024

Highlighted filing

2024

Revenue$88,899
Expenses$143,814
Net Income-$54,915

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$114,308
Mission and Program Overview

Mission

To provide affordable quality housing to the elderly, people with disabilities and very low income people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$541,556$515,773▼ $25,783
Cash and Non-Interest-Bearing Accounts$23,069$12,045▼ $11,024
Prepaid Expenses and Deferred Charges$3,266$3,481▲ $215
Accounts Receivable$796$1,117▲ $321
Total Assets$653,747$596,157▼ $57,590
Other Assets Total$85,060$63,741▼ $21,319
Liabilities
Unsecured Notes Loans Payable$549,200$549,200→ $0
Accounts Payable and Accrued Expenses$31,642$21,835▼ $9,807
Other Liabilities$2,453$2,236▼ $217
Deferred Revenue$728$25▼ $703
Total Liabilities$584,023$573,296▼ $10,727
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$69,724$22,861▼ $46,863
Total Net Assets Fund Balance$69,724$22,861▼ $46,863
Total Liabilities and Net Assets / Fund Balance$653,747$596,157▼ $57,590

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$472,010$495,497$967,507
Land$43,763-$43,763
Equipment$0$10,928$10,928
Other Assets Org$16,088--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Matthew OsbornePresident
Eleanor WhiteDirector
JOHN O'BRITZDirector
Joshua HammondDirector
Mark SegelDirector
Michael SmithDirector
Patrick SheaDirector
Paul PonteDirector
Robert BaldacciDirector
Robert StapeDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$114,197
Investment Income
$75
Other Revenue
$36
Change in Net Assets
$-46,863
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$161,171
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
Occupancy$30,723--$30,723
Depreciation Depletion$25,783--$25,783
Office Expenses$8,721--$8,721
Fees for Services Management-$5,568-$5,568
Fees for Services Accounting-$3,912-$3,912
Insurance$2,865--$2,865
Fees for Services Legal$1,055--$1,055
Other Expenses$1,046--$1,046
Advertising$43--$43
Total Functional Expenses$151,691$9,480$0$161,171
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
Security Deposits$2,236
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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 6

The organization has a board comprised of members who are not compensated.

Form 990, Part VI, Section B, Line 11B

The finance/audit committee performs an in-depth review of the form 990 prior to filing.

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

The organization has each board member confirm annually that he or she does not have any conflicts of interest.

Form 990, Part VI, Section B, Line 15

The board of directors approves the salary of top management officials and officers and reviews them on an annual basis.

Form 990, Part VI, Section C, Line 19

All documents listed are available on site upon request.

Filing and Contact Details

Filer

Filer Name
Summerdale Court Inc
EIN
31-1581955
Phone
6788606833
Address
795 RIDGE LAKE BLVD, MEMPHIS, TN 38120

Signing Officer

Name
Matthew C Osborne
Title
President
Phone
6788606833
Signed
2023-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew C Osborne
Formed
1997
Legal Domicile
Pa
Voting Board Members
10
Independent Board Members
10
Employees
5
Volunteers
10

Preparer

Firm
Clark Schaefer Hackett & Co
Address
4449 EASTON WAY SUITE 400, COLUMBUS, OH 43219
Preparer
Natosha Carr
Phone
6148852208
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

No provision or benefit for income taxes has been included in these financial statements since the corporation was organized as a not-for-profit corporation and has secured tax exempt status under section 501(c)(3) of the internal revenue code and did not have any unrelated business income for the year ended december 31, 2022. The corporation has determined that all income tax filing positions would be sustained upon examination and accordingly, the corporation has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions pursuant to asc 740 income taxes as of december 31, 2022.

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/TotalAmt0262732
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt075
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt030
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0108
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0538
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0557
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01308
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0307522
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt036
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0138
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt098
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0131
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0403
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99350
IRS990ScheduleA/PublicSupportPY170Pct00.99460
IRS990ScheduleA/PublicSupportTotal170Amt0262732
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt089782
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt082971
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt089979
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0262732
IRS990ScheduleA/TotalSupportAmt0264443
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0472010
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0495497
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0967507
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010928
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010928
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt043763
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt043763
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02310
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt118505
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt226838
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt316088
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE - HUD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02236
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN INCLUDED IN THESE FINANCIAL STATEMENTS SINCE THE CORPORATION WAS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION AND HAS SECURED TAX EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2022. THE CORPORATION HAS DETERMINED THAT ALL INCOME TAX FILING POSITIONS WOULD BE SUSTAINED UPON EXAMINATION AND ACCORDINGLY, THE CORPORATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS PURSUANT TO ASC 740 INCOME TAXES AS OF DECEMBER 31, 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0515773
IRS990ScheduleD/TotalBookValueOtherAssetsAmt063741
IRS990ScheduleD/TotalLiabilityAmt02236
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A BOARD COMPRISED OF MEMBERS WHO ARE NOT COMPENSATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FINANCE/AUDIT COMMITTEE PERFORMS AN IN-DEPTH REVIEW OF THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS EACH BOARD MEMBER CONFIRM ANNUALLY THAT HE OR SHE DOES NOT HAVE ANY CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS APPROVES THE SALARY OF TOP MANAGEMENT OFFICIALS AND OFFICERS AND REVIEWS THEM ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DOCUMENTS LISTED ARE AVAILABLE ON SITE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ST CLAIR VILLA INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1JEFFERSON COURTYARD INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0251700573
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1251795831
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0795 RIDGE LAKE BLVD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1795 RIDGE LAKE BLVD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MEMPHIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1MEMPHIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1TN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd038120
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd138120
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0653747

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