Civic Intelligence

Independence House L L C

990 • Fiscal year 2022 • EIN 32-0056642

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 07, 2023

411 S Wells Street 401Chicago, IL 60607

(312) 274-8200

Siviq Scores

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

Liabilities / Assets

98th percentile

1.63x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

12.97x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

6th percentile

-54%

Higher net margin than 6% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

30th percentile

-4.8%

Faster asset growth than 30% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

16th percentile

-24%

Faster revenue growth than 16% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$3,275,274

Down $166,846 (-4.8%) from 2021

Net Assets

Down

-$2,067,159

Down $220,997 (-12%) from 2021

Liabilities

Up

$5,342,433

Up $54,151 (+1.0%) from 2021

Revenue

Down

$411,879

Down $129,066 (-24%) from 2021

Expenses

Down

$632,876

Down $88,371 (-12%) from 2021

Net Income

Down

-$220,997

Down $40,695 (-23%) from 2021

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2017: $3,976,324Liabilities 2017: $5,207,995Net Assets 2017: -$1,231,6712017Assets 2018: $3,843,642Liabilities 2018: $5,289,921Net Assets 2018: -$1,446,2792018Assets 2019: $3,666,970Liabilities 2019: $5,188,685Net Assets 2019: -$1,521,7152019Assets 2020: $3,560,505Liabilities 2020: $5,226,365Net Assets 2020: -$1,665,8602020Assets 2021: $3,442,120Liabilities 2021: $5,288,282Net Assets 2021: -$1,846,1622021Assets 2022: $3,275,274Liabilities 2022: $5,342,433Net Assets 2022: -$2,067,1592022Assets 2023: $3,573,983Liabilities 2023: $5,307,861Net Assets 2023: -$1,733,8782023Assets 2024: $3,414,782Liabilities 2024: $5,330,143Net Assets 2024: -$1,915,3612024

Highlighted filing

2022

Assets$3,275,274
Liabilities$5,342,433
Net Assets-$2,067,159

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2017: $402,970Expenses 2017: $542,786Net Income 2017: -$139,8162017Revenue 2018: $378,097Expenses 2018: $592,705Net Income 2018: -$214,6082018Revenue 2019: $501,501Expenses 2019: $576,937Net Income 2019: -$75,4362019Revenue 2020: $535,734Expenses 2020: $679,879Net Income 2020: -$144,1452020Revenue 2021: $540,945Expenses 2021: $721,247Net Income 2021: -$180,3022021Revenue 2022: $411,879Expenses 2022: $632,876Net Income 2022: -$220,9972022Revenue 2023: $910,814Expenses 2023: $577,533Net Income 2023: $333,2812023Revenue 2024: $489,922Expenses 2024: $671,405Net Income 2024: -$181,4832024

Highlighted filing

2022

Revenue$411,879
Expenses$632,876
Net Income-$220,997
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 7, 2023
Return Version
2022v5.0
Gross Receipts
$411,879
Mission and Program Overview

Mission

The organization owns and operates a residential facility primarily for low-income adults (and their dependent children) who are in recovery from the disability of chronic substance abuse.

The organization owns and operates a residential facility primarily for low-income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,238,030$3,088,978▼ $149,052
Accounts Receivable$65,830$36,462▼ $29,368
Prepaid Expenses and Deferred Charges$17,438$18,020▲ $582
Cash and Non-Interest-Bearing Accounts$1,414$829▼ $585
Total Assets$3,442,120$3,275,274▼ $166,846
Other Assets Total$119,408$130,985▲ $11,577
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,138,518$5,137,318▼ $1,200
Accounts Payable and Accrued Expenses$96,636$129,810▲ $33,174
Other Liabilities$48,118$71,788▲ $23,670
Deferred Revenue$5,010$3,517▼ $1,493
Total Liabilities$5,288,282$5,342,433▲ $54,151
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,846,162$-2,067,159▼ $220,997
Total Net Assets Fund Balance$-1,846,162$-2,067,159▼ $220,997
Total Liabilities and Net Assets / Fund Balance$3,442,120$3,275,274▼ $166,846

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,020,401$2,576,669$5,597,070
Other Land Buildings$25,477$317,759$343,236
Land$43,100-$43,100
Equipment$0--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Clarence L SmithChairman
Perry ViettiPresident & CEO
Calvin HolmesSecretary
Catherine GalliganTreasurer/CFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Tact 1 LLCSecurityPO BOX 111, Orland Park, IL 60462$167,992
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$409,889
Investment Income
$1,990
Other Revenue
$0
Change in Net Assets
$-220,997

Audited Revenue Reconciliation

Revenue per Audited Statements
$411,879
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$411,879
Total Revenue per Form 990
$411,879
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$582,858
Salaries, Compensation, and Employee Benefits$50,018
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$149,053--$149,053
Other Salaries and Wages$46,879--$46,879
All Other Expenses$43,738--$43,738
Other Expenses$27,088--$27,088
Insurance$24,858--$24,858
Fees for Services Management$23,670--$23,670
Fees for Services Accounting-$11,715-$11,715
Payroll Taxes$3,139--$3,139
Fees for Services Legal$1,900--$1,900
Office Expenses$478--$478
Total Functional Expenses$621,161$11,715$0$632,876

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$632,876
Total Expenses per Audited Statements$632,876
Total Expenses per Form 990$632,876
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
Accrued Management Fees$56,483
Due to Affiliate$12,876
Security Deposit$2,429
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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, Part VI, Section B, Line 11B

Line 11b explanation - a draft copy of the form 990 and related schedules is circulated by the board members along with copies of the audited financial statements for review and comment prior to filing.

Form 990, Part VI, Section C, Line 19

All documents are available upon request at the organization's office during normal business hours.

Filing and Contact Details

Filer

Filer Name
Independence House LLC
EIN
32-0056642
Phone
3122748200
Address
411 S WELLS STREET 401, CHICAGO, IL 60607

Signing Officer

Name
Perry Vietti
Title
President & CEO
Phone
3122748200
Signed
2023-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Perry Vietti
Formed
2003
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Rubinbrown Llp
Address
225 W WACKER DRIVE, CHICAGO, IL 60606
Preparer
Bruce Schiff
Phone
3124251099
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 7

Salaries and wages shown for independence house, llc were reported on form w-3 by a common pay master, interfaith management services, llc. Independence house llc's allocated share is properly shown on form 990, part ix, line 7, as program service expense.

Form 990 Part X Line 23

Form 990, part x, line 23 details mortgages owed: illinois housing development authority purpose: acquisition and operation dates amounts march 18, 2003 orig:$2,159,818 boy: $2,138,518 eoy: $2,137,318 terms security 0.0% per annum., mature march 31, 2034 r/e monthly payment of $100.00 for prin dates amounts march 18, 2003 orig:$3,000,000 boy: $3,000,000 eoy: $3,000,000 terms security 0.0% per annum., mature march 31, 2034 r/e balloon payment at maturity

Form 990 Part XII Line 2C

The organization has a committee that assumes responsibility for oversight of the audit. There were no changes in the organization's oversight process or election process during the tax year.

Raw XML Appendix388 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/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0540945
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0535734
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0501501
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0378097
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02368156
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03020401
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02576669
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05597070
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0632876
IRS990ScheduleD/LandGrp/BookValueAmt043100
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt043100
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt025477
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0317759
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0343236
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012876
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt156483
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22429
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED MANAGEMENT FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSIT
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0411879
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03088978
IRS990ScheduleD/TotalExpensesPerForm990Amt0632876
IRS990ScheduleD/TotalLiabilityAmt071788
IRS990ScheduleD/TotalRevenuePerForm990Amt0411879
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0411879
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0632876
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 11B EXPLANATION - A DRAFT COPY OF THE FORM 990 AND RELATED SCHEDULES IS CIRCULATED BY THE BOARD MEMBERS ALONG WITH COPIES OF THE AUDITED FINANCIAL STATEMENTS FOR REVIEW AND COMMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARIES AND WAGES SHOWN FOR INDEPENDENCE HOUSE, LLC WERE REPORTED ON FORM W-3 BY A COMMON PAY MASTER, INTERFAITH MANAGEMENT SERVICES, LLC. INDEPENDENCE HOUSE LLC'S ALLOCATED SHARE IS PROPERLY SHOWN ON FORM 990, PART IX, LINE 7, AS PROGRAM SERVICE EXPENSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990, PART X, LINE 23 DETAILS MORTGAGES OWED: ILLINOIS HOUSING DEVELOPMENT AUTHORITY PURPOSE: ACQUISITION AND OPERATION DATES AMOUNTS MARCH 18, 2003 ORIG:$2,159,818 BOY: $2,138,518 EOY: $2,137,318 TERMS SECURITY 0.0% PER ANNUM., MATURE MARCH 31, 2034 R/E MONTHLY PAYMENT OF $100.00 FOR PRIN DATES AMOUNTS MARCH 18, 2003 ORIG:$3,000,000 BOY: $3,000,000 EOY: $3,000,000 TERMS SECURITY 0.0% PER ANNUM., MATURE MARCH 31, 2034 R/E BALLOON PAYMENT AT MATURITY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THERE WERE NO CHANGES IN THE ORGANIZATION'S OVERSIGHT PROCESS OR ELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990 PART IX LINE 7
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PART X LINE 23
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART XII LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03442120
IRS990/TotalAssetsEOYAmt03275274
IRS990/TotalAssetsGrp/BOYAmt03442120
IRS990/TotalAssetsGrp/EOYAmt03275274
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011715
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0621161
IRS990/TotalFunctionalExpensesGrp/TotalAmt0632876
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05288282
IRS990/TotalLiabilitiesEOYAmt05342433
IRS990/TotalLiabilitiesGrp/BOYAmt05288282
IRS990/TotalLiabilitiesGrp/EOYAmt05342433
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1846162
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2067159
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0621161
IRS990/TotalProgramServiceRevenueAmt0409889
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01990
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0409889
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0411879
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03442120
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03275274
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0411 S WELLS STREET 401
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060607
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PERRY VIETTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03122748200
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDEPENDENCE HOUSE LLC
ReturnHeader/Filer/BusinessNameControlTxt0INDE
ReturnHeader/Filer/EIN0320056642
ReturnHeader/Filer/PhoneNum03122748200
ReturnHeader/Filer/USAddress/AddressLine1Txt0411 S WELLS STREET 401
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060607
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0430765316
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RUBINBROWN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0225 W WACKER DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060606
ReturnHeader/PreparerPersonGrp/PhoneNum03124251099
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRUCE SCHIFF
ReturnHeader/ReturnTs02023-08-07T11:23:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PERRY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0VIETTI
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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