Civic Intelligence

Horizon Homes for Elderly Inc

EIN 31-1632277 • 501(c)3 • Morristown, TN

Profile

To provide housing for low-income elderly or handicapped tenants under section 202 of the national housing act.

PO Box 1218Morristown, TN 37814

n/A

Siviq Scores

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

Liabilities / Assets

97th percentile

1.70x

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

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

Liabilities / Revenue

99th percentile

10.63x

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

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

Net Margin

15th percentile

-21%

Higher net margin than 15% 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

34th percentile

-2.5%

Faster asset growth than 34% of similar nonprofits.

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

Revenue Growth

36th percentile

-1.6%

Faster revenue growth than 36% of similar nonprofits.

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

Assets

Down

$694,474

Down $235 (-0.0%) from 2021

Liabilities

Up

$1,082,489

Up $9,194 (+0.9%) from 2021

Net Assets

Down

-$388,015

Down $9,429 (-2.5%) from 2021

Revenue

Up

$103,717

Up $6,117 (+6.3%) from 2021

Expenses

Down

$113,146

Down $5,610 (-4.7%) from 2021

Net Income

Up

-$9,429

Up $11,727 (+55%) from 2021

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2012: $884,618Liabilities 2012: $1,124,925Net Assets 2012: -$240,3072012Assets 2013: $867,073Liabilities 2013: $1,125,441Net Assets 2013: -$258,3682013Assets 2014: $850,530Liabilities 2014: $1,129,066Net Assets 2014: -$278,5362014Assets 2015: $831,680Liabilities 2015: $1,144,313Net Assets 2015: -$312,6332015Assets 2016: $780,300Liabilities 2016: $1,124,492Net Assets 2016: -$344,1922016Assets 2018: $736,103Liabilities 2018: $1,122,822Net Assets 2018: -$386,7192018Assets 2019: $723,559Liabilities 2019: $1,070,436Net Assets 2019: -$346,8772019Assets 2020: $717,266Liabilities 2020: $1,074,698Net Assets 2020: -$357,4322020Assets 2021: $694,709Liabilities 2021: $1,073,295Net Assets 2021: -$378,5862021Assets 2022: $694,474Liabilities 2022: $1,082,489Net Assets 2022: -$388,0152022

Highlighted filing

2022

Assets$694,474
Liabilities$1,082,489
Net Assets-$388,015

Operations Trend

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

$200K$150K$100K$50K$0-$50KExpenses 2012: $88,2422012Revenue 2013: $72,251Expenses 2013: $90,312Net Income 2013: -$18,0612013Revenue 2014: $74,755Expenses 2014: $94,923Net Income 2014: -$20,1682014Revenue 2015: $77,397Expenses 2015: $111,494Net Income 2015: -$34,0972015Revenue 2016: $74,076Expenses 2016: $105,635Net Income 2016: -$31,5592016Revenue 2018: $90,601Expenses 2018: $113,480Net Income 2018: -$22,8792018Revenue 2019: $153,714Expenses 2019: $113,872Net Income 2019: $39,8422019Revenue 2020: $105,650Expenses 2020: $116,204Net Income 2020: -$10,5542020Revenue 2021: $97,600Expenses 2021: $118,756Net Income 2021: -$21,1562021Revenue 2022: $103,717Expenses 2022: $113,146Net Income 2022: -$9,4292022

Highlighted filing

2022

Revenue$103,717
Expenses$113,146
Net Income-$9,429

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 28, 2023
Return Version
2022v5.0
Gross Receipts
$103,717
Mission and Program Overview

Mission

Affordable housing for low income and elderly

Low-income housing for elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$541,203$510,745▼ $30,458
Cash and Non-Interest-Bearing Accounts$10,367$22,338▲ $11,971
Prepaid Expenses and Deferred Charges$4,032$4,032→ $0
Total Assets$694,709$694,474▼ $235
Other Assets Total$139,107$157,359▲ $18,252
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,050,000$1,050,000→ $0
Accounts Payable and Accrued Expenses$17,985$27,241▲ $9,256
Other Liabilities$5,310$5,248▼ $62
Total Liabilities$1,073,295$1,082,489▲ $9,194
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-378,586$-388,015▼ $9,429
Total Net Assets Fund Balance$-378,586$-388,015▼ $9,429
Total Liabilities and Net Assets / Fund Balance$694,709$694,474▼ $235

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$466,948$580,383$1,047,331
Other Land Buildings$9,028$43,259$52,287
Land$34,769-$34,769
Equipment$0$3,824$3,824
Other Assets Org$10,600--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kay HalePresident
Susan LukerExecutive Vice President
Jack YatesVice-president
Barbara MasonDirector
Barbara RaperDirector
Chris HornDirector
Joe BenthalDirector
Lane WolfenbargerDirector
Megan BarnardDirector
Michael CollinsDirector
Will SligerDirector
Bill MitrikSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$25,088
Program Service Revenue
$78,616
Investment Income
$13
Other Revenue
$0
Change in Net Assets
$-9,429

Audited Revenue Reconciliation

Revenue per Audited Statements
$103,717
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$103,717
Total Revenue per Form 990
$103,717
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$113,146
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
Depreciation Depletion$30,458--$30,458
Fees for Services Management$7,525$12,445-$19,970
Insurance$5,261--$5,261
Other Expenses$4,700--$4,700
Fees for Services Accounting-$3,619-$3,619
Office Expenses-$2,521-$2,521
Fees for Services Other-$125-$125
Total Functional Expenses$94,436$18,710$0$113,146

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$113,146
Total Expenses per Audited Statements$113,146
Total Expenses per Form 990$113,146
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$5,248
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
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
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

Governance Explanations

Form 990, Part VI, Section A, Line 3

Day to day operations are performed by a non-profit management agent approved by hud.

Form 990, Part VI, Section A, Line 6

One class of members comprised of individuals with an interest in housing for elderly and low-income persons.

Form 990, Part VI, Section A, Line 7A

All members have voting right to elect the governing body (board of directors).

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

Form 990 is reviewed by the executive director of the management company.

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

Annual training sessions with on-site managers.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Horizon Homes for Elderly Inc
EIN
31-1632277
Phone
4235861494
Address
PO BOX 1218, MORRISTOWN, TN 37814
Doing Business As
Oak Hills Annex

Signing Officer

Name
Kay Hale
Title
President
Phone
4235861494
Signed
2023-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kay Hale
Legal Domicile
Tn
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Purkey Carter Compton Swann & Carter
Address
PLLC PO BOX 727, MORRISTOWN, TN 37815
Preparer
Paul a Lynch CPA
Phone
4235864850
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt038101
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt035268
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0162104
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt013
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt013
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt046
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt051
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt078
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0201
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt078616
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt068870
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt070674
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0115562
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt055285
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0389007
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt013
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt013
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt046
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt051
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt078
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0201
IRS990ScheduleA/InvestmentIncomeCYPct00.00040
IRS990ScheduleA/InvestmentIncomePYPct00.00040
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99960
IRS990ScheduleA/PublicSupportPY509Pct00.99960
IRS990ScheduleA/PublicSupportTotal509Amt0551111
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0103704
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt097587
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0105604
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0153663
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt090553
IRS990ScheduleA/Total509Grp/TotalAmt0551111
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0103717
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt097600
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0105650
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0153714
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt090631
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0551312
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0466948
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0580383
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01047331
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03824
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03824
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0113146
IRS990ScheduleD/LandGrp/BookValueAmt034769
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt034769
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05248
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt14783
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2131978
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt34750
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt410600
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09028
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt043259
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt052287
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05248
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0103717
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0510745
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0157359
IRS990ScheduleD/TotalExpensesPerForm990Amt0113146
IRS990ScheduleD/TotalLiabilityAmt05248
IRS990ScheduleD/TotalRevenuePerForm990Amt0103717
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0103717
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0113146
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAY TO DAY OPERATIONS ARE PERFORMED BY A NON-PROFIT MANAGEMENT AGENT APPROVED BY HUD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ONE CLASS OF MEMBERS COMPRISED OF INDIVIDUALS WITH AN INTEREST IN HOUSING FOR ELDERLY AND LOW-INCOME PERSONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL MEMBERS HAVE VOTING RIGHT TO ELECT THE GOVERNING BODY (BOARD OF DIRECTORS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR OF THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNUAL TRAINING SESSIONS WITH ON-SITE MANAGERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0621328332
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0REAL ESTATE MANAGEMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0CENTURY PROPERTIES INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0PO BOX 1218
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0MORRISTOWN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0TN
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd037816
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd60
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd70

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