Civic Intelligence

Frankfort Community Housing Inc.

990 • Fiscal year 2020 • EIN 35-1432681

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 30, 2021

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

89th percentile

0.68x

Higher debt load relative to assets than 89% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

96th percentile

3.54x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

49th percentile

5.8%

Higher net margin than 49% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

37th percentile

1.2%

Faster asset growth than 37% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

12th percentile

-46%

Faster revenue growth than 12% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$812,390

Up $9,619 (+1.2%) from 2019

Net Assets

Up

$261,363

Up $8,958 (+3.5%) from 2019

Liabilities

Up

$551,027

Up $661 (+0.1%) from 2019

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin49th percentile

Revenue

Down

$155,512

Down $130,786 (-46%) from 2019

Expenses

Down

$146,554

Down $3,963 (-2.6%) from 2019

Net Income

Down

$8,958

Down $126,823 (-93%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth37th 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

2020

Assets$812,390
Liabilities$551,027
Net Assets$261,363
Open 2020 Filing

Operations Trend

Revenue Growth12th 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

2020

Revenue$155,512
Expenses$146,554
Net Income$8,958
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 30, 2021
Return Version
2020v4.1
Gross Receipts
$155,512
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$429,316$459,967▲ $30,651
Land, Buildings, and Equipment, Net$363,793$341,266▼ $22,527
Prepaid Expenses and Deferred Charges$6,029$6,029→ $0
Accounts Receivable$2,694$3,037▲ $343
Cash and Non-Interest-Bearing Accounts$939$2,091▲ $1,152
Total Assets$802,771$812,390▲ $9,619
Liabilities
Mortgage Notes Payable Secured by Investment Property$450,047$449,123▼ $924
Accounts Payable and Accrued Expenses$89,581$91,470▲ $1,889
Other Liabilities$10,738$10,434▼ $304
Total Liabilities$550,366$551,027▲ $661
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$252,405$261,363▲ $8,958
Total Net Assets Fund Balance$252,405$261,363▲ $8,958
Total Liabilities and Net Assets / Fund Balance$802,771$812,390▲ $9,619

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$265,979$666,792-
Land$37,918--
Equipment$37,369$113,594-
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Susie RuskPresident
Don RuskVice President
Larry TruaxResident Board Member
Cindy OremMember
Charles CruiseSecretary
Sherry CruiseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$145,991
Investment Income
$360
Other Revenue
$9,161
Change in Net Assets
$8,958
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$119,879
Salaries, Compensation, and Employee Benefits$26,675
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$57,116--$57,116
Other Salaries and Wages$21,308$1,891-$23,199
Depreciation Depletion$22,527--$22,527
Fees for Services Management$13,198$7,106-$20,304
Insurance$10,471--$10,471
Interest$4,022--$4,022
Office Expenses$3,482$108-$3,590
Payroll Taxes$3,193$283-$3,476
Fees for Services Accounting-$1,635-$1,635
Advertising$192--$192
Other Expenses$22--$22
Total Functional Expenses$135,531$11,023$0$146,554
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$10,434
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
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
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
2021-03-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susie Rusk
Formed
1978
Legal Domicile
In
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Mcm Cpas & Advisors Llp
Address
9229 DELEGATES ROW SUITE 250, INDIANAPOLIS, IN 46240
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.”

Raw XML Appendix375 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/EquipmentGrp/BookValueAmt037369
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0113594
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0150963
IRS990ScheduleD/LandGrp/BookValueAmt037918
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt037918
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010434
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT LIABILITY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0341266
IRS990ScheduleD/TotalLiabilityAmt010434
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/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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0802771
IRS990/TotalAssetsEOYAmt0812390
IRS990/TotalAssetsGrp/BOYAmt0802771
IRS990/TotalAssetsGrp/EOYAmt0812390
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011023
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0135531
IRS990/TotalFunctionalExpensesGrp/TotalAmt0146554
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0550366
IRS990/TotalLiabilitiesEOYAmt0551027
IRS990/TotalLiabilitiesGrp/BOYAmt0550366
IRS990/TotalLiabilitiesGrp/EOYAmt0551027
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0252405
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0261363
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0135531
IRS990/TotalProgramServiceRevenueAmt0145991
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0155512
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0155512
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0802771
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0812390
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0652 N GIRLS SCHOOL ROAD NO 110
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd0462143661
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SUSIE RUSK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03172730312
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-30
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/PreparerFirmGrp/PreparerFirmEIN0271235638
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCM CPAS & ADVISORS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09229 DELEGATES ROW SUITE 250
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046240
ReturnHeader/PreparerPersonGrp/PhoneNum03173475200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0REBEKAH PAYNE CPA
ReturnHeader/ReturnTs02021-04-19T10:43:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SUSIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RUSK
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$812,390
Liabilities
$551,027
Net assets
$261,363
Revenue
$155,512
Expenses
$146,554
Net income
$8,958
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