Civic Intelligence

Homescasas Elderly Housing Inc

EIN 34-1397637 • 501(c)3 • Fremont, OH

Profile

To provide subsidized housing to the elderly.

219 South Front StreetFremont, OH 43420

n/A

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2020

Liabilities / Revenue

61st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

33rd percentile

-7.5%

Higher net margin than 33% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2018 to 2020

Revenue Growth

54th percentile

2.1%

Faster revenue growth than 54% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2018 to 2020

Assets

Down

$0

Down $877,687 (-100%) from 2019

Liabilities

Down

$0

Down $1,681,546 (-100%) from 2019

Net Assets

Up

$0

Up $803,859 (+100%) from 2019

Revenue

Up

$478,771

Up $17,533 (+3.8%) from 2019

Expenses

Up

$514,840

Up $28,347 (+5.8%) from 2019

Net Income

Down

-$36,069

Down $10,814 (-43%) from 2019

Trend Graphs

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2011: $1,242,115Liabilities 2011: $1,919,390Net Assets 2011: -$677,2752011Assets 2012: $1,238,351Liabilities 2012: $1,914,614Net Assets 2012: -$676,2632012Assets 2013: $1,179,044Liabilities 2013: $1,895,921Net Assets 2013: -$716,8772013Assets 2014: $1,151,880Liabilities 2014: $1,879,657Net Assets 2014: -$727,7772014Assets 2015: $1,118,539Liabilities 2015: $1,836,669Net Assets 2015: -$718,1302015Assets 2016: $1,068,479Liabilities 2016: $1,833,161Net Assets 2016: -$764,6822016Assets 2017: $1,043,492Liabilities 2017: $1,819,522Net Assets 2017: -$776,0302017Assets 2018: $925,833Liabilities 2018: $1,704,437Net Assets 2018: -$778,6042018Assets 2019: $877,687Liabilities 2019: $1,681,546Net Assets 2019: -$803,8592019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $452,1202011Expenses 2012: $455,6722012Expenses 2013: $482,8332013Revenue 2014: $437,222Expenses 2014: $448,122Net Income 2014: -$10,9002014Revenue 2015: $453,371Expenses 2015: $443,724Net Income 2015: $9,6472015Revenue 2016: $402,454Expenses 2016: $449,006Net Income 2016: -$46,5522016Revenue 2017: $433,024Expenses 2017: $444,372Net Income 2017: -$11,3482017Revenue 2018: $458,933Expenses 2018: $461,507Net Income 2018: -$2,5742018Revenue 2019: $461,238Expenses 2019: $486,493Net Income 2019: -$25,2552019Revenue 2020: $478,771Expenses 2020: $514,840Net Income 2020: -$36,0692020

Highlighted filing

2020

Revenue$478,771
Expenses$514,840
Net Income-$36,069

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Dec 7, 2020
Return Version
2019v5.1
Gross Receipts
$478,771
Mission and Program Overview

Mission

To provide subsidized housing to the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$479,308$0▼ $479,308
Savings and Temporary Cash Investments$356,751$0▼ $356,751
Accounts Receivable$13,550$0▼ $13,550
Cash and Non-Interest-Bearing Accounts$12,357$0▼ $12,357
Prepaid Expenses and Deferred Charges$3,123$0▼ $3,123
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$877,687$0▼ $877,687
Other Assets Total$12,598$0▼ $12,598
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,591,300$0▼ $1,591,300
Accounts Payable and Accrued Expenses$75,226$0▼ $75,226
Other Liabilities$12,614$0▼ $12,614
Deferred Revenue$2,406$0▼ $2,406
Total Liabilities$1,681,546$0▼ $1,681,546
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-803,859$0▲ $803,859
Total Net Assets Fund Balance$-803,859$0▲ $803,859
Total Liabilities and Net Assets / Fund Balance$877,687$0▼ $877,687
Compensation and Service Providers

Board Members and Trustees

NameTitle
Robert KarlovetzPresident
Peggy BlissVice President
Alex GorobetzBoard Member
Vickie HuskBoard Member
Violetta TheaBoard Member
Jerry QuackenbushSecretary
William ArmstrongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$299,626
Program Service Revenue
$178,114
Investment Income
$1,031
Other Revenue
$0
Change in Net Assets
$-36,069

Audited Revenue Reconciliation

Revenue per Audited Statements
$478,771
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$478,771
Total Revenue per Form 990
$478,771
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$443,257
Salaries, Compensation, and Employee Benefits$71,583
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$106,565--$106,565
Interest$89,971--$89,971
Other Salaries and Wages$39,788$16,105-$55,893
Depreciation Depletion$46,636--$46,636
Fees for Services Other$42,668--$42,668
Insurance$29,247--$29,247
Fees for Services Management-$23,995-$23,995
Fees for Services Accounting-$19,400-$19,400
Other Employee Benefits$11,290--$11,290
Office Expenses-$8,917-$8,917
All Other Expenses$4,998$2,036-$7,034
Other Expenses$5,462--$5,462
Payroll Taxes$4,400--$4,400
Total Functional Expenses$444,387$70,453$0$514,840

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$514,840
Total Expenses per Audited Statements$514,840
Total Expenses per Form 990$514,840
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

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

The 990 is reviewed at the board meeting followed by a vote of approval.

Form 990, Part VI, Section C, Line 19

Governing documents and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Homescasas Elderly Housing Inc
EIN
34-1397637
Phone
4193322678
Address
219 SOUTH FRONT STREET, FREMONT, OH 43420

Signing Officer

Name
William Armstrong
Title
Treasurer
Phone
4193322678
Signed
2020-12-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Armstrong
Formed
1983
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Clark Schaefer Hackett & Co
Address
14 EAST MAIN STREET SUITE 500, SPRINGFIELD, OH 45502
Preparer
Devesh Kamal CPA
Phone
9373992000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Liabilities in excess of assets assumed by buyer 839,928.

Part XII, Line 2C

No change from prior year in the oversight process or the selection process.

Financial Statement Notes

PART X, LINE 2:

The corporation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The project's reporting returns are subject to audit by federal and state taxing authorities. No income tax provision has been included in the financial statements as the corporation has determined it does not have unrelated business income subject to taxation.

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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0237889
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01375690
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01031
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0364
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0327
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0325
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0345
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt02392
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0178114
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0179567
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0168422
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0164309
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0163093
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0853505
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01031
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0364
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0327
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0325
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0345
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02392
IRS990ScheduleA/InvestmentIncomeCYPct00.00110
IRS990ScheduleA/InvestmentIncomePYPct00.00090
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0200
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01506
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt01127
IRS990ScheduleA/OtherIncome509Grp/TotalAmt02833
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99770
IRS990ScheduleA/PublicSupportPY509Pct00.90830
IRS990ScheduleA/PublicSupportTotal509Amt02229195
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0477740
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0460874
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0458406
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0431193
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0400982
IRS990ScheduleA/Total509Grp/TotalAmt02229195
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0478771
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0461238
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0458933
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0433024
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0402454
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02234420
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/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0514840
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0478771
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PROJECT'S REPORTING RETURNS ARE SUBJECT TO AUDIT BY FEDERAL AND STATE TAXING AUTHORITIES. NO INCOME TAX PROVISION HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS AS THE CORPORATION HAS DETERMINED IT DOES NOT HAVE UNRELATED BUSINESS INCOME SUBJECT TO TAXATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0514840
IRS990ScheduleD/TotalRevenuePerForm990Amt0478771
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0478771
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0514840
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd00
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0ALL OF THE ASSETS AND LIABILITIES WERE SOLD TO AN UNRELATED THIRD PARTY. SALE RESULTED IN NO DISTRIBUTION OF ASSETS. THE FMV OF THE ASSETS EQUALED THE REMAINING LIABILITIES, WHICH WERE TRANSFERRED TO THE BUYER.
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0JANEL TERRACE OH LP
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02020-03-31
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0822191367
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt01665300
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0RENTAL REAL ESTATE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0REAL ESTATE APPRAISAL. A TRANSFER OF PHYSICAL ASSETS WAS APPROVED BY HUD FOR TRANSFER OF ASSETS TO THE BUYER.
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0127 PUBLIC SQUARE 4000 KEY TO
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0CLEVELAND
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0OH
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd044114
IRS990ScheduleN/EmployeeOfSuccessor2Ind00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0HOME CASAS ELDERLY HOUSING, INC. SOLD THE REAL ESTATE ASSETS ALONG WITH THE HUD REQUIRED RESERVES AND PROJECT ASSETS TO AN UNRELATED ENTITY. THE FMV OF THE ASSETS TRANSFERRED TO THE BUYER APPROXIMATED THE REMAINING DEBT OF $1,665,300 ON THE SALE DATE. PURSUANT TO THE HUD REGULATORY AGREEMENT, PROJECT CASH AND FUNDED RESERVES WERE TRANSFERRED TO THE NEW ENTITY AND REMAINED WITH THE HUD PROJECT.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3:
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED AT THE BOARD MEETING FOLLOWED BY A VOTE OF APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LIABILITIES IN EXCESS OF ASSETS ASSUMED BY BUYER 839,928.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO CHANGE FROM PRIOR YEAR IN THE OVERSIGHT PROCESS OR THE SELECTION PROCESS.
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 XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0877687
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0877687
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0299626

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