Civic Intelligence

Frankfort Community Housing Inc.

990 • Fiscal year 2017 • EIN 35-1432681

Jan 01, 2017 to Dec 31, 2017 • Filed on Feb 20, 2018

Organization ProfileN/A
652 N Girls School Road No 110Indianapolis, IN 46214-3661

(317) 273-0312

Siviq Scores

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

Liabilities / Assets

91st percentile

0.84x

Higher debt load relative to assets than 91% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

96th percentile

3.68x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

61st percentile

8.0%

Higher net margin than 61% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

49th percentile

2.7%

Faster asset growth than 49% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

37th percentile

-1.1%

Faster revenue growth than 37% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$643,059

Up $16,777 (+2.7%) from 2016

Net Assets

Up

$101,566

Up $11,760 (+13%) from 2016

Liabilities

Up

$541,493

Up $5,017 (+0.9%) from 2016

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin61st percentile

Revenue

Down

$147,000

Down $1,581 (-1.1%) from 2016

Expenses

Down

$135,240

Down $513 (-0.4%) from 2016

Net Income

Down

$11,760

Down $1,068 (-8.3%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$1.0M$500K$0Assets 2012: $592,692Liabilities 2012: $502,073Net Assets 2012: $90,6192012Assets 2013: $605,719Liabilities 2013: $515,438Net Assets 2013: $90,2812013Assets 2014: $593,876Liabilities 2014: $525,018Net Assets 2014: $68,8582014Assets 2015: $606,240Liabilities 2015: $529,262Net Assets 2015: $76,9782015Assets 2016: $626,282Liabilities 2016: $536,476Net Assets 2016: $89,8062016Assets 2017: $643,059Liabilities 2017: $541,493Net Assets 2017: $101,5662017Assets 2018: $664,299Liabilities 2018: $547,675Net Assets 2018: $116,6242018Assets 2019: $802,771Liabilities 2019: $550,366Net Assets 2019: $252,4052019Assets 2020: $812,390Liabilities 2020: $551,027Net Assets 2020: $261,3632020Assets 2021: $806,137Liabilities 2021: $554,814Net Assets 2021: $251,3232021Assets 2022: $769,160Liabilities 2022: $553,992Net Assets 2022: $215,1682022Assets 2023: $735,126Liabilities 2023: $555,385Net Assets 2023: $179,7412023Assets 2024: $727,260Liabilities 2024: $548,365Net Assets 2024: $178,8952024

Highlighted filing

2017

Assets$643,059
Liabilities$541,493
Net Assets$101,566
Open 2017 Filing

Operations Trend

Revenue Growth37th percentile

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

$300K$200K$100K$0-$100KExpenses 2012: $133,8152012Revenue 2013: $136,628Expenses 2013: $136,966Net Income 2013: -$3382013Revenue 2014: $141,638Expenses 2014: $163,061Net Income 2014: -$21,4232014Revenue 2015: $141,461Expenses 2015: $133,341Net Income 2015: $8,1202015Revenue 2016: $148,581Expenses 2016: $135,753Net Income 2016: $12,8282016Revenue 2017: $147,000Expenses 2017: $135,240Net Income 2017: $11,7602017Revenue 2018: $153,074Expenses 2018: $138,016Net Income 2018: $15,0582018Revenue 2019: $286,298Expenses 2019: $150,517Net Income 2019: $135,7812019Revenue 2020: $155,512Expenses 2020: $146,554Net Income 2020: $8,9582020Revenue 2021: $156,849Expenses 2021: $166,889Net Income 2021: -$10,0402021Revenue 2022: $158,058Expenses 2022: $194,213Net Income 2022: -$36,1552022Revenue 2023: $172,691Expenses 2023: $208,118Net Income 2023: -$35,4272023Revenue 2024: $193,547Expenses 2024: $194,393Net Income 2024: -$8462024

Highlighted filing

2017

Revenue$147,000
Expenses$135,240
Net Income$11,760
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Feb 20, 2018
Return Version
2017v2.2
Gross Receipts
$147,000
Mission and Program Overview

Mission

To provide rental housing for eligible occupants under the fmha subsidized housing program

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$361,591$374,363▲ $12,772
Land, Buildings, and Equipment, Net$255,197$257,275▲ $2,078
Prepaid Expenses and Deferred Charges$6,029$6,029→ $0
Cash and Non-Interest-Bearing Accounts$836$2,826▲ $1,990
Accounts Receivable$2,629$2,566▼ $63
Total Assets$626,282$643,059▲ $16,777
Liabilities
Mortgage Notes Payable Secured by Investment Property$452,563$451,765▼ $798
Accounts Payable and Accrued Expenses$73,165$79,078▲ $5,913
Other Liabilities$10,748$10,650▼ $98
Total Liabilities$536,476$541,493▲ $5,017
Net Assets / Fund Balance
Unrestricted Net Assets$89,806$101,566▲ $11,760
Total Net Assets Fund Balance$89,806$101,566▲ $11,760
Total Liabilities and Net Assets / Fund Balance$626,282$643,059▲ $16,777

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$170,407$642,539-
Land$37,918--
Equipment$48,950$100,941-
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Susie RuskPresident
Don RuskVice President
Merle CampbellResident Board Member
Mike HensleySecretary
Charles CrouseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$136,971
Investment Income
$255
Other Revenue
$9,774
Change in Net Assets
$11,760

Audited Revenue Reconciliation

Revenue per Audited Statements
$147,000
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$147,000
Total Revenue per Form 990
$147,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$113,130
Salaries, Compensation, and Employee Benefits$22,110
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$58,906--$58,906
Other Salaries and Wages$17,496$1,552-$19,048
Fees for Services Management$12,230$6,586-$18,816
Depreciation Depletion$16,590--$16,590
Interest$8,194--$8,194
Office Expenses$5,178$161-$5,339
Fees for Services Accounting-$5,285-$5,285
Payroll Taxes$2,812$250-$3,062
Total Functional Expenses$121,406$13,834$0$135,240

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$135,240
Total Expenses per Audited Statements$135,240
Total Expenses per Form 990$135,240
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
Security Deposit Liability$10,650
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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 2

“Don rusk and susie rusk are married (family relationship).”

Form 990, Part VI, Section A, Line 3

“The organization has delegated control over management duties to valenti real estate services, inc., the management agent of the project.”

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

“The form 990 is reviewed by the management agent of the project and the board of directors.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Frankfort Community Housing Inc
EIN
35-1432681
Phone
3172730312
Address
652 N GIRLS SCHOOL ROAD NO 110, INDIANAPOLIS, IN 46214-3661

Signing Officer

Name
Susie Rusk
Title
President
Phone
3172730312
Signed
2018-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susie Rusk
Formed
1978
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Mcm Cpas & Advisors Llp
Address
6840 EAGLE HIGHLANDS WAY, INDIANAPOLIS, IN 46254
Preparer
Rebekah Payne CPA
Phone
3173475200
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 5:

“Number of employees: frankfort community housing, inc. Has no employees. Frankfort community housing, inc. Reimburses valenti real estate services, inc. (management agent) whose employees provide services to the organization.”

FORM 990, PART XI, LINE 2C:

“The management agent of the organization assumes responsibility for overseeing the audit of its financial statements and selection of an independent accountant.”

Financial Statement Notes

PART X, LINE 2:

“The corporation has evaluated tax positions taken in the tax returns filed and has determined that there are no uncertain tax positions as defined by generally accepted accounting principles.”

Raw XML Appendix378 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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IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt037918
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010650
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0147000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS EVALUATED TAX POSITIONS TAKEN IN THE TAX RETURNS FILED AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS DEFINED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0257275
IRS990ScheduleD/TotalExpensesPerForm990Amt0135240
IRS990ScheduleD/TotalLiabilityAmt010650
IRS990ScheduleD/TotalRevenuePerForm990Amt0147000
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0147000
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0135240
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NUMBER OF EMPLOYEES: FRANKFORT COMMUNITY HOUSING, INC. HAS NO EMPLOYEES. FRANKFORT COMMUNITY HOUSING, INC. REIMBURSES VALENTI REAL ESTATE SERVICES, INC. (MANAGEMENT AGENT) WHOSE EMPLOYEES PROVIDE SERVICES TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DON RUSK AND SUSIE RUSK ARE MARRIED (FAMILY RELATIONSHIP).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS DELEGATED CONTROL OVER MANAGEMENT DUTIES TO VALENTI REAL ESTATE SERVICES, INC., THE MANAGEMENT AGENT OF THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED BY THE MANAGEMENT AGENT OF THE PROJECT AND THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE MANAGEMENT AGENT OF THE ORGANIZATION ASSUMES RESPONSIBILITY FOR OVERSEEING THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 5:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0626282
IRS990/TotalAssetsEOYAmt0643059
IRS990/TotalAssetsGrp/BOYAmt0626282
IRS990/TotalAssetsGrp/EOYAmt0643059
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013834
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0121406
IRS990/TotalFunctionalExpensesGrp/TotalAmt0135240
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0536476
IRS990/TotalLiabilitiesEOYAmt0541493
IRS990/TotalLiabilitiesGrp/BOYAmt0536476
IRS990/TotalLiabilitiesGrp/EOYAmt0541493
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt089806
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0101566
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0121406
IRS990/TotalProgramServiceRevenueAmt0136971
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0147000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0147000
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0626282
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0643059
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt089806
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0101566
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0652 N GIRLS SCHOOL ROAD NO 110
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd0462143661
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SUSIE RUSK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03172730312
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKFORT COMMUNITY HOUSING INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FRIENDSHIP VILLAGE APARTMENTS
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0351432681
ReturnHeader/Filer/PhoneNum03172730312
ReturnHeader/Filer/USAddress/AddressLine1Txt0652 N GIRLS SCHOOL ROAD NO 110
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd0462143661
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId03EA5BE20BC154553A3D224EA66065E3A3F5B6429
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07452D3DE40719BD2D143224CF833738BBCA653D3
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0128.136.148.166
ReturnHeader/FilingSecurityInformation/IPDt02018-02-20
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm017:43:49
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271235638
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCM CPAS & ADVISORS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06840 EAGLE HIGHLANDS WAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046254
ReturnHeader/PreparerPersonGrp/PhoneNum03173475200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0REBEKAH PAYNE CPA
ReturnHeader/ReturnTs02018-03-10T14:07:20-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$643,059
Liabilities
$541,493
Net assets
$101,566
Revenue
$147,000
Expenses
$135,240
Net income
$11,760
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.27$5.48$1.79$1.94$1.94$0.01
2023Detailed filing. Detailed filing data is available for this year.$7.35$5.55$1.80$1.73$2.08$0.35
2022Detailed filing. Detailed filing data is available for this year.$7.69$5.54$2.15$1.58$1.94$0.36
2021Detailed filing. Detailed filing data is available for this year.$8.06$5.55$2.51$1.57$1.67$0.10
2020Detailed filing. Detailed filing data is available for this year.$8.12$5.51$2.61$1.56$1.47$0.09
2019Detailed filing. Detailed filing data is available for this year.$8.03$5.50$2.52$2.86$1.51$1.36
2018Detailed filing. Detailed filing data is available for this year.$6.64$5.48$1.17$1.53$1.38$0.15
2017Detailed filing. Detailed filing data is available for this year.$6.43$5.41$1.02$1.47$1.35$0.12
2016Detailed filing. Detailed filing data is available for this year.$6.26$5.36$0.90$1.49$1.36$0.13
2015Detailed filing. Detailed filing data is available for this year.$6.06$5.29$0.77$1.41$1.33$0.08
2014Detailed filing. Detailed filing data is available for this year.$5.94$5.25$0.69$1.42$1.63$0.21
2013Detailed filing. Detailed filing data is available for this year.$6.06$5.15$0.90$1.37$1.37$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.93$5.02$0.91$1.34