Civic Intelligence

Independent Communitiess Inc.

990 • Fiscal year 2020 • EIN 31-1653309

Jul 01, 2019 to Jun 30, 2020 • Filed on May 06, 2021

Organization ProfileN/A
2020 Peachtree Road NWAtlanta, GA 30309

(404) 816-9770

Siviq Scores

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

Liabilities / Assets

97th percentile

1.59x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

9.71x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

42nd percentile

2.4%

Higher net margin than 42% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets97th percentile

Assets

$811,726

No earlier filing loaded for comparison.

Net Assets

-$481,580

No earlier filing loaded for comparison.

Liabilities

$1,293,306

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin42nd percentile

Revenue

$133,237

No earlier filing loaded for comparison.

Expenses

$130,090

No earlier filing loaded for comparison.

Net Income

$3,147

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2020: $811,726Liabilities 2020: $1,293,306Net Assets 2020: -$481,5802020Assets 2021: $790,753Liabilities 2021: $1,276,068Net Assets 2021: -$485,3152021Assets 2022: $790,753Liabilities 2022: $1,276,068Net Assets 2022: -$485,3152022Assets 2023: $790,753Liabilities 2023: $1,276,068Net Assets 2023: -$485,3152023Assets 2024: $740,397Liabilities 2024: $1,297,878Net Assets 2024: -$557,4812024

Highlighted filing

2020

Assets$811,726
Liabilities$1,293,306
Net Assets-$481,580
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$200K$100K$0-$100KRevenue 2020: $133,237Expenses 2020: $130,090Net Income 2020: $3,1472020Revenue 2021: $138,747Expenses 2021: $142,482Net Income 2021: -$3,7352021Revenue 2022: $0Expenses 2022: $0Net Income 2022: $02022Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023Revenue 2024: $173,545Expenses 2024: $193,308Net Income 2024: -$19,7632024

Highlighted filing

2020

Revenue$133,237
Expenses$130,090
Net Income$3,147
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 6, 2021
Return Version
2019v5.1
Gross Receipts
$133,237
Mission and Program Overview

Mission

Providing housing to low income mobility impaired persons by operating a hud-assisted apartment community regulated under section 811 of the national affordable housing act of 1990.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$735,656$706,413▼ $29,243
Cash and Non-Interest-Bearing Accounts$2,227$12,860▲ $10,633
Prepaid Expenses and Deferred Charges$1,583$1,604▲ $21
Accounts Receivable$625$3▼ $622
Total Assets$818,593$811,726▼ $6,867
Other Assets Total$78,502$90,846▲ $12,344
Liabilities
Other Liabilities$1,264,818$1,265,054▲ $236
Accounts Payable and Accrued Expenses$36,574$26,942▼ $9,632
Deferred Revenue$1,928$1,310▼ $618
Total Liabilities$1,303,320$1,293,306▼ $10,014
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-484,727$-481,580▲ $3,147
Total Net Assets Fund Balance$-484,727$-481,580▲ $3,147
Total Liabilities and Net Assets / Fund Balance$818,593$811,726▼ $6,867

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$646,416$536,080$1,182,496
Land$59,997-$59,997
Other Land Buildings-$27,541$27,541
Other Assets Org$87,109--
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Jason ShelnuttPresident
Elliott PoagDirector
Mark JohnsonDirector
Michal OwensDirector
Sarah MorrisonDirector
Curtis RodgersSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$133,213
Investment Income
$24
Other Revenue
$0
Change in Net Assets
$3,147

Audited Revenue Reconciliation

Revenue per Audited Statements
$133,237
Total Revenue per Audited Statements
$133,237
Total Revenue per Form 990
$133,237
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$81,648
Salaries, Compensation, and Employee Benefits$48,442
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$45,000--$45,000
Depreciation Depletion$30,143--$30,143
Fees for Services Management-$13,615-$13,615
Insurance$8,105--$8,105
Fees for Services Accounting-$4,540-$4,540
Payroll Taxes$3,442--$3,442
Other Expenses$2,784--$2,784
Office Expenses$1,466--$1,466
All Other Expenses$1,287--$1,287
Total Functional Expenses$111,935$18,155$0$130,090

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$130,090
Total Expenses per Audited Statements$130,090
Total Expenses per Form 990$130,090
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
Federal income taxes$1,262,000
Capital advance$3,054
Tenant security deposits-
Governance and Compliance

Governance Checklist

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

“The organization has entered into a management agreement with a management company for day-today management of the apartment community as is common practice for owners/operators of HUD-assisted rental communities.”

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

“The return is prepared by a certified public accounting firm and provided to the management company for initial review and approval. After any questions and comments from the management company are addressed, the return is provide to the board of directors for final review and approval. After any questions and comments from the board of directors are addressed, the return is finalized and provided to the designated board officer for signature and filing.”

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

“Compliance is monitored at regularly scheduled meetings of the board of directors and at other times, if needed.”

Form 990, Part VI, Section C, Line 19

“Documents are maintained by the board of directors and copies are provided upon request.”

Filing and Contact Details

Filer

Filer Name
Independent Communities Inc
EIN
31-1653309
Phone
4048169770
Address
2020 Peachtree Road NW, Atlanta, GA 30309

Signing Officer

Name
Jason Shelnutt
Title
President
Phone
4048169770
Signed
2021-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Shellnut
Formed
1999
Legal Domicile
Ga
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Acorn Business Consulting LLC
Address
4704 Sharon Valley Court, Atlanta, GA 30360
Preparer
Seth Strongin
Phone
7704519998
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt059997
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03447
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1290
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt287109
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Tenant security deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Insurance escrow
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Replacement reserve
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt027541
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt027541
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01262000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13054
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Capital advance
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Tenant security deposits
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0133237
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0706413
IRS990ScheduleD/TotalBookValueOtherAssetsAmt090846
IRS990ScheduleD/TotalExpensesPerForm990Amt0130090
IRS990ScheduleD/TotalLiabilityAmt01265054
IRS990ScheduleD/TotalRevenuePerForm990Amt0133237
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0133237
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0130090
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization has entered into a management agreement with a management company for day-today management of the apartment community as is common practice for owners/operators of HUD-assisted rental communities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The return is prepared by a certified public accounting firm and provided to the management company for initial review and approval. After any questions and comments from the management company are addressed, the return is provide to the board of directors for final review and approval. After any questions and comments from the board of directors are addressed, the return is finalized and provided to the designated board officer for signature and filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compliance is monitored at regularly scheduled meetings of the board of directors and at other times, if needed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents are maintained by the board of directors and copies are provided upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
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 C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0818593
IRS990/TotalAssetsEOYAmt0811726
IRS990/TotalAssetsGrp/BOYAmt0818593
IRS990/TotalAssetsGrp/EOYAmt0811726
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018155
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0111935
IRS990/TotalFunctionalExpensesGrp/TotalAmt0130090
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01303320
IRS990/TotalLiabilitiesEOYAmt01293306
IRS990/TotalLiabilitiesGrp/BOYAmt01303320
IRS990/TotalLiabilitiesGrp/EOYAmt01293306
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-484727
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-481580
IRS990/TotalProgramServiceExpensesAmt0111935
IRS990/TotalProgramServiceRevenueAmt0133213
IRS990/TotalRevenueGrp/ExclusionAmt024
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0133213
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0133237
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0818593
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0811726
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0165 Carriage Station Circle
IRS990/USAddress/CityNm0Roswell
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd030075
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jason Shelnutt
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum04048169770
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Independent Communities Inc
ReturnHeader/Filer/BusinessNameControlTxt0INDE
ReturnHeader/Filer/EIN0311653309
ReturnHeader/Filer/PhoneNum04048169770
ReturnHeader/Filer/USAddress/AddressLine1Txt02020 Peachtree Road NW
ReturnHeader/Filer/USAddress/CityNm0Atlanta
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd030309
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Acorn Business Consulting LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04704 Sharon Valley Court
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Atlanta
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030360
ReturnHeader/PreparerPersonGrp/PhoneNum07704519998
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Seth Strongin
ReturnHeader/ReturnTs02021-05-06T04:12:50-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$811,726
Liabilities
$1,293,306
Net assets
-$481,580
Revenue
$133,237
Expenses
$130,090
Net income
$3,147
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.74$1.30$0.56$0.17$0.19$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.79$1.28$0.49$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.79$1.28$0.49$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.79$1.28$0.49$0.14$0.14$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.81$1.29$0.48$0.13$0.13$0.00