Civic Intelligence

Federation Towers Inc DBA Lupica Towers

990 • Fiscal year 2013 • EIN 34-0967541

Jan 01, 2013 to Dec 31, 2013 • Filed on Aug 22, 2014

Organization ProfileN/A
4750 Beidler Road44094

(216) 990-3689

Siviq Scores

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

Liabilities / Assets

45th percentile

0.07x

Higher debt load relative to assets than 45% of similar nonprofits.

2013 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

47th percentile

0.10x

Higher debt load relative to revenue than 47% of similar nonprofits.

2013 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2013

Net Margin

97th percentile

83%

Higher net margin than 97% of similar nonprofits.

2013 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2013 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2013

Asset Growth

95th percentile

54%

Faster asset growth than 95% of similar nonprofits.

2013 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

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

Source year 2013

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$3,646,855

Up $1,283,941 (+54%) from 2012

Net Assets

Up

$3,397,064

Up $2,080,457 (+158%) from 2012

Liabilities

Down

$249,791

Down $796,516 (-76%) from 2012

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin97th percentile

Revenue

$2,494,079

No earlier filing loaded for comparison.

Expenses

Down

$413,622

Down $1,617,385 (-80%) from 2012

Net Income

$2,080,457

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,245,668Liabilities 2011: $1,370,503Net Assets 2011: $875,1652011Assets 2012: $2,362,914Liabilities 2012: $1,046,307Net Assets 2012: $1,316,6072012Assets 2013: $3,646,855Liabilities 2013: $249,791Net Assets 2013: $3,397,0642013Assets 2014: $3,670,610Liabilities 2014: $249,791Net Assets 2014: $3,420,8192014Assets 2015: $3,690,928Liabilities 2015: $249,791Net Assets 2015: $3,441,1372015Assets 2016: $3,702,780Liabilities 2016: $249,791Net Assets 2016: $3,452,9892016Assets 2018: $3,726,996Liabilities 2018: $253,255Net Assets 2018: $3,473,7412018Assets 2020: $3,739,739Liabilities 2020: $0Net Assets 2020: $3,739,7392020Assets 2021: $3,728,470Liabilities 2021: $0Net Assets 2021: $3,728,4702021Assets 2022: $3,678,649Liabilities 2022: $0Net Assets 2022: $3,678,6492022Assets 2024: $3,684,838Liabilities 2024: $0Net Assets 2024: $3,684,8382024

Highlighted filing

2013

Assets$3,646,855
Liabilities$249,791
Net Assets$3,397,064
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $2,125,5172011Expenses 2012: $2,031,0072012Revenue 2013: $2,494,079Expenses 2013: $413,622Net Income 2013: $2,080,4572013Revenue 2014: $26,093Expenses 2014: $2,338Net Income 2014: $23,7552014Revenue 2015: $35,745Expenses 2015: $15,427Net Income 2015: $20,3182015Revenue 2016: $12,802Expenses 2016: $950Net Income 2016: $11,8522016Revenue 2018: $12,855Expenses 2018: $4,189Net Income 2018: $8,6662018Revenue 2020: $8,516Expenses 2020: $952Net Income 2020: $7,5642020Revenue 2021: $27,506Expenses 2021: $38,775Net Income 2021: -$11,2692021Revenue 2022: $32,204Expenses 2022: $82,025Net Income 2022: -$49,8212022Revenue 2024: $109,214Expenses 2024: $90,104Net Income 2024: $19,1102024

Highlighted filing

2013

Revenue$2,494,079
Expenses$413,622
Net Income$2,080,457
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Aug 22, 2014
Return Version
2013v3.0
Gross Receipts
$3,745,557
Mission and Program Overview

Mission

To provide affordable housing for qualified low-income seniors and the disabled.

Low-income housing approximately 79% of rents are subsidized by the u.s. Department of housing and urban development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$788,423$3,622,248▲ $2,833,825
Land, Buildings, and Equipment, Net$1,228,457--
Prepaid Expenses and Deferred Charges$40,112--
Cash and Non-Interest-Bearing Accounts$281,224$24,607▼ $256,617
Accounts Receivable$24,534--
Total Assets$2,362,914$3,646,855▲ $1,283,941
Other Assets Total$164$0▼ $164
Liabilities
Mortgage Notes Payable Secured by Investment Property$936,664$249,791▼ $686,873
Accounts Payable and Accrued Expenses$76,460--
Other Liabilities$33,183$0▼ $33,183
Total Liabilities$1,046,307$249,791▼ $796,516
Net Assets / Fund Balance
Unrestricted Net Assets$1,316,607$3,397,064▲ $2,080,457
Total Net Assets Fund Balance$1,316,607$3,397,064▲ $2,080,457
Total Liabilities and Net Assets / Fund Balance$2,362,914$3,646,855▲ $1,283,941
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

NameTitle
Michael J MorganPresident Board of Trustee
Loree SoggsDirector
Richard D ActonDirector
Terry JoyceDirector
Terry MccaffertyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$210,017
Investment Income
$2,263,820
Other Revenue
$20,242
Change in Net Assets
$2,080,457
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$338,214
Salaries, Compensation, and Employee Benefits$75,408
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$136,332--$136,332
Fees for Services Legal-$73,467-$73,467
Other Salaries and Wages$58,674--$58,674
Fees for Services Management$13,776$13,776-$27,552
Fees for Services Accounting-$25,169-$25,169
Depreciation Depletion$24,858--$24,858
Other Employee Benefits$14,383--$14,383
Insurance$11,195--$11,195
Payroll Taxes$2,351--$2,351
Interest$2,274--$2,274
All Other Expenses$975$766-$1,741
Office Expenses-$1,253-$1,253
Other Expenses$220$958-$1,178
Advertising-$109-$109
Total Functional Expenses$294,473$119,149$0$413,622
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The project pays management fees to lable & company property management.”

Form 990, Part VI, Section B, Line 11

“Return is reviewed by the board president before filing.”

Form 990, Part VI, Section C, Line 19

“The organization does not make its governing documents or financial statements available to the public.”

Filing and Contact Details

Filer

EIN
34-0967541
Phone
2169903689

Signing Officer

Name
Mike Morgan
Title
President
Phone
2169903689
Signed
2014-08-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Morgan
Formed
1966
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Preparer
David M Reape CPA
Phone
2168317171
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“The low-income housing unit was sold during 2013. The board is currently exploring options on how it will continue it's exempt purpose at another location.”

FORM 990, PART XII, LINE 2:

“On february 5, 2013, the project was sold to skyline tower, lp and the outstanding mortgage payable was paid off.”

Raw XML Appendix342 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LOW-INCOME HOUSING UNIT WAS SOLD DURING 2013. THE BOARD IS CURRENTLY EXPLORING OPTIONS ON HOW IT WILL CONTINUE IT'S EXEMPT PURPOSE AT ANOTHER LOCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PROJECT PAYS MANAGEMENT FEES TO LABLE & COMPANY PROPERTY MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RETURN IS REVIEWED BY THE BOARD PRESIDENT BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ON FEBRUARY 5, 2013, THE PROJECT WAS SOLD TO SKYLINE TOWER, LP AND THE OUTSTANDING MORTGAGE PAYABLE WAS PAID OFF.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2:
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IRS990/TotalLiabilitiesGrp/EOYAmt0249791
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01316607
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03397064
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0294473
IRS990/TotalProgramServiceRevenueAmt0210017
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt014
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02494065
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02494079
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02362914
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03646855
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01316607
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03397064
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine104750 BEIDLER ROAD
IRS990/USAddress/City0WILLOUGHBY
IRS990/USAddress/State0OH
IRS990/USAddress/ZIPCode044094
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02169903689
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-08-22
ReturnHeader/Filer/BusinessName/BusinessNameLine10FEDERATION TOWERS INC DBA LUPICA TOWERS
ReturnHeader/Filer/BusinessNameControlTxt0FEDE
ReturnHeader/Filer/EIN0340967541
ReturnHeader/Filer/PhoneNum02169903689
ReturnHeader/Filer/USAddress/AddressLine104750 BEIDLER ROAD
ReturnHeader/Filer/USAddress/City0WILLOUGHBY
ReturnHeader/Filer/USAddress/State0OH
ReturnHeader/Filer/USAddress/ZIPCode044094
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341322309
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10CIUNI & PANICHI INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1025201 CHAGRIN BLVD 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0CLEVELAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0441225683
ReturnHeader/PreparerPersonGrp/PhoneNum02168317171
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID M REAPE CPA
ReturnHeader/ReturnTs02014-09-03T10:46:58-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,646,855
Liabilities
$249,791
Net assets
$3,397,064
Revenue
$2,494,079
Expenses
$413,622
Net income
$2,080,457
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.68$0.00$3.68$0.11$0.09$0.02
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.68$0.00$3.68$0.03$0.08$0.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.73$0.00$3.73$0.03$0.04$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.74$0.00$3.74$0.01$0.00$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.73$0.25$3.47$0.01$0.00$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.70$0.25$3.45$0.01$0.00$0.01
2015Detailed filing. Detailed filing data is available for this year.$3.69$0.25$3.44$0.04$0.02$0.02
2014Detailed filing. Detailed filing data is available for this year.$3.67$0.25$3.42$0.03$0.00$0.02
2013Detailed filing. Detailed filing data is available for this year.$3.65$0.25$3.40$2.49$0.41$2.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.36$1.05$1.32$2.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$1.37$0.88$2.13