Civic Intelligence

Charles Crest Corporation

EIN 34-1399869 • 501(c)3 • Denver, CO

Profile

Charles crest corporation, an ohio not-for-profit corporation was organized to construct, own and operate a 48 unit apartment community in rossford, ohio, known as charles crest,pursuant to section 202 of the national housing act, as amended.

1999 Broadway Suite 1000Denver, CO 80202

www.mercyhousing.org

Siviq Scores

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

Liabilities / Assets

97th percentile

1.73x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

4.49x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

20th percentile

-12%

Higher net margin than 20% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

22nd percentile

-5.2%

Faster asset growth than 22% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

45th percentile

4.7%

Faster revenue growth than 45% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Assets

Down

$1,425,930

Down $162,189 (-10%) from 2022

Liabilities

Down

$2,467,919

Down $24,443 (-1.0%) from 2022

Net Assets

Down

-$1,041,989

Down $137,746 (-15%) from 2022

Revenue

Up

$549,074

Up $47,999 (+9.6%) from 2022

Expenses

Up

$615,980

Up $77,445 (+14%) from 2022

Net Income

Down

-$66,906

Down $29,446 (-79%) from 2022

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2010: $777,356Liabilities 2010: $1,764,117Net Assets 2010: -$986,7612010Assets 2011: $733,755Liabilities 2011: $1,751,114Net Assets 2011: -$1,017,3592011Assets 2012: $701,390Liabilities 2012: $1,726,040Net Assets 2012: -$1,024,6502012Assets 2013: $633,823Liabilities 2013: $1,568,627Net Assets 2013: -$934,8042013Assets 2015: $505,399Liabilities 2015: $1,502,891Net Assets 2015: -$997,4922015Assets 2016: $474,878Liabilities 2016: $1,507,179Net Assets 2016: -$1,032,3012016Assets 2017: $452,247Liabilities 2017: $1,468,763Net Assets 2017: -$1,016,5162017Assets 2018: $492,473Liabilities 2018: $1,486,760Net Assets 2018: -$994,2872018Assets 2019: $458,773Liabilities 2019: $1,425,467Net Assets 2019: -$966,6942019Assets 2021: $1,746,721Liabilities 2021: $2,613,504Net Assets 2021: -$866,7832021Assets 2022: $1,588,119Liabilities 2022: $2,492,362Net Assets 2022: -$904,2432022Assets 2024: $1,425,930Liabilities 2024: $2,467,919Net Assets 2024: -$1,041,9892024

Highlighted filing

2024

Assets$1,425,930
Liabilities$2,467,919
Net Assets-$1,041,989

Operations Trend

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $436,7852010Expenses 2011: $433,7812011Expenses 2012: $471,2322012Revenue 2013: $555,864Expenses 2013: $466,018Net Income 2013: $89,8462013Revenue 2015: $484,448Expenses 2015: $494,332Net Income 2015: -$9,8842015Revenue 2016: $460,687Expenses 2016: $495,496Net Income 2016: -$34,8092016Revenue 2017: $500,398Expenses 2017: $484,613Net Income 2017: $15,7852017Revenue 2018: $524,106Expenses 2018: $501,877Net Income 2018: $22,2292018Revenue 2019: $526,094Expenses 2019: $498,501Net Income 2019: $27,5932019Revenue 2021: $496,953Expenses 2021: $510,908Net Income 2021: -$13,9552021Revenue 2022: $501,075Expenses 2022: $538,535Net Income 2022: -$37,4602022Revenue 2024: $549,074Expenses 2024: $615,980Net Income 2024: -$66,9062024

Highlighted filing

2024

Revenue$549,074
Expenses$615,980
Net Income-$66,906

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$2.47$1.04$0.55$0.62$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$2.49$0.90$0.50$0.54$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$2.61$0.87$0.50$0.51$0.01
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$1.43$0.97$0.53$0.50$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$1.49$0.99$0.52$0.50$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.45$1.47$1.02$0.50$0.48$0.02
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$1.51$1.03$0.46$0.50$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.51$1.50$1.00$0.48$0.49$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.63$1.57$0.93$0.56$0.47$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$1.73$1.02$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$1.75$1.02$0.43
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$1.76$0.99$0.44
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 6, 2023
Return Version
2022v5.0
Gross Receipts
$501,075
Mission and Program Overview

Mission

Charles crest corporation, an ohio not-for-profit corporation was organized to construct, own and operate a 48 unit apartment community in rossford, ohio, known as charles crest,pursuant to section 202 of the national housing act, as amended.

Charles crest corporation, an ohio not-for-profit corporation, was organized to construct, own and operate a 48-unit apartment community in rossford, ohio, known as charles crest.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$518,737$795,458▲ $276,721
Cash and Non-Interest-Bearing Accounts$54,930$19,350▼ $35,580
Prepaid Expenses and Deferred Charges$65,347$17,774▼ $47,573
Accounts Receivable$487$400▼ $87
Total Assets$1,746,721$1,588,119▼ $158,602
Other Assets Total$1,107,220$755,137▼ $352,083
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,257,960$2,386,886▲ $128,926
Accounts Payable and Accrued Expenses$336,608$85,431▼ $251,177
Other Liabilities$17,101$18,062▲ $961
Deferred Revenue$1,835$1,983▲ $148
Total Liabilities$2,613,504$2,492,362▼ $121,142
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-866,783$-904,243▼ $37,460
Total Net Assets Fund Balance$-866,783$-904,243▼ $37,460
Total Liabilities and Net Assets / Fund Balance$1,746,721$1,588,119▼ $158,602

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$671,320$1,017,973$1,689,293
Equipment$71,702$646,554$718,256
Other Land Buildings$3,549$243,016$246,565
Land$48,887-$48,887
Other Assets Org$37,596--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Anyeka WallaceDirector$148,839$148,839
Selena FreemanDirector$128,420$128,420
Bruce SaabVice President$111,234$111,234
Elaine WilliamsDirector$77,838$77,838
Terry SteidenDirector$77,330$77,330

Board Members and Trustees

NameTitle
James AlexanderPresident/director
Kassidi BoeningVice President
Melissa ClaytonVice President
Bobby ArtisDirector
Joseph RosenblumSecretary/director
Chad PayneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$324,903
Program Service Revenue
$175,136
Investment Income
$1,036
Other Revenue
$0
Change in Net Assets
$-37,460

Audited Revenue Reconciliation

Revenue per Audited Statements
$501,075
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$501,075
Total Revenue per Form 990
$501,075
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$424,300
Salaries, Compensation, and Employee Benefits$114,235
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$220,285--$220,285
Depreciation Depletion$86,357--$86,357
Other Salaries and Wages$84,445--$84,445
Fees for Services Management$30,255--$30,255
Other Employee Benefits$22,073--$22,073
Fees for Services Accounting-$14,191-$14,191
Office Expenses$7,380--$7,380
Payroll Taxes$6,197--$6,197
Information Technology$1,589--$1,589
Pension Plan Contributions$1,520--$1,520
Travel$548--$548
Fees for Services Other$298--$298
Other Expenses$246--$246
All Other Expenses$200--$200
Advertising$15--$15
Total Functional Expenses$524,344$14,191$0$538,535

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$538,535
Total Expenses per Audited Statements$538,535
Total Expenses per Form 990$538,535
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 Deposits Held in Trust$18,062
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Charles crest corporation is a nonstock, nonprofit corporation with mercy housing southeast as the sole member.

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

The board of trustees of mercy housing, inc. Has authority over charles crest corporation in various aspects of operations and management. The reserved rights held by the mercy housing board of trustees, which may be further delegated to the president and ceo of mercy housing, inc., include approval of the following activities: revisions to articles and bylaws; mergers and acquisitions; establishment of new entities; pledging, mortgaging or disposing of all or substantially all assets; obligations of new operating and mortgage debt; and appointment or removal of governing board members and officers.

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

SAME AS LINE 7A

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

Each member is given the opportunity to review the return before it is filed.

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

The audit committee of mercy housing, inc. Reviews periodically the conflict of interest disclosures and determines whether any action is required.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Charles Crest Corporation
EIN
34-1399869
Phone
3038303300
Address
1999 BROADWAY SUITE 1000, DENVER, CO 80202

Signing Officer

Name
Chad Payne
Title
Treasurer
Phone
3038303300
Signed
2023-09-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Alexander
Formed
1995
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
621 CAPITOL MALL SUITE 2150, SACRAMENTO, CA 95814
Preparer
Lisa M Cummings CPA
Phone
9164429100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

Responsibility for selection of an independent accountant and oversight of the annual audit is reserved by the mercy housing, inc. Board of trustees.

Financial Statement Notes

PART X, LINE 2:

The corporation has applied for and received a determination letter from the internal revenue service ("irs") to be treated as a tax-exempt entity pursuant to section 501(c)(3) of the internal revenue code and did not have any unrelated business income for the year ended december 31, 2022. Due to its tax-exempt status, the corporation is not subject to income taxes. The corporation is required to file and does file tax returns with the irs and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the corporation has no other tax positions which must be considered for disclosure. Income tax returns filed by the corporation are subject to examination by the irs for a period of three years. While no income tax returns are currently being examined by the irs, tax years since 2019 remain open.

Raw XML AppendixShowing 400 of 6,042 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0336608
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt085431
IRS990/AccountsReceivableGrp/BOYAmt0487
IRS990/AccountsReceivableGrp/EOYAmt0400
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0CHARLES CREST CORPORATION, AN OHIO NOT-FOR-PROFIT CORPORATION, WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 48-UNIT APARTMENT COMMUNITY IN ROSSFORD, OHIO, KNOWN AS CHARLES CREST.
IRS990/AdvertisingGrp/ProgramServicesAmt015
IRS990/AdvertisingGrp/TotalAmt015
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IRS990/AnnualDisclosureCoveredPrsnInd01
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IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0CHAD PAYNE
IRS990/BooksInCareOfDetail/PhoneNum03038303300
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01999 BROADWAY SUITE 1000
IRS990/BooksInCareOfDetail/USAddress/CityNm0DENVER
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0CO
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IRS990/CompensationProcessOtherInd00
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IRS990/ConservationEasementsInd00
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IRS990/CreditCounselingInd00
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IRS990/CYTotalRevenueAmt0501075
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IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt086357
IRS990/DepreciationDepletionGrp/TotalAmt086357
IRS990/Desc0CHARLES CREST CORPORATION WAS ORGANIZED ON JUNE 21, 1983 AS AN OHIO NON-STOCK, NONPROFIT CORPORATION FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. THE PROJECT CONSISTS OF 48 UNITS LOCATED IN ROSSFORD, OHIO AND IS CURRENTLY OPERATING UNDER THE NAME OF CHARLES CREST I.
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IRS990/Form990PartVIISectionAGrp/PersonNm3JAMES ALEXANDER
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE PRESIDENT
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0CHARLES CREST CORPORATION, AN OHIO NOT-FOR-PROFIT CORPORATION, WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 48-UNIT APARTMENT COMMUNITY IN ROSSFORD, OHIO, KNOWN AS CHARLES CREST, PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01107220
IRS990/OtherAssetsTotalGrp/EOYAmt0755137
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt022073
IRS990/OtherEmployeeBenefitsGrp/TotalAmt022073
IRS990/OtherExpensesGrp/Desc0OPERATING & MAINTENANCE
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IRS990/OtherExpensesGrp/Desc3TAXES/LICENSES/PERMITS
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt06197
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IRS990/PrincipalOfficerNm0JAMES ALEXANDER
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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0534
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0501
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03206
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0486711
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0484942
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01036
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0501
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02605428
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt118370
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt237596
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT DEPOSITS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS HELD IN TRUST
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2022. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2019 REMAIN OPEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20

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