Civic Intelligence

Flora Apartments Inc.

990 • Fiscal year 2015 • EIN 35-1496962

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 17, 2016

115 North Division StreetFlora, IN 46929

(574) 967-3033

Siviq Scores

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

Liabilities / Assets

81st percentile

0.42x

Higher debt load relative to assets than 81% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

92nd percentile

1.46x

Higher debt load relative to revenue than 92% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

37th percentile

-0.8%

Higher net margin than 37% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

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

Source year 2015

Revenue Growth

Score unavailable

No value available

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

Source year 2015

Assets

$562,292

No earlier filing loaded for comparison.

Net Assets

$324,981

No earlier filing loaded for comparison.

Liabilities

$237,311

No earlier filing loaded for comparison.

Revenue

$162,336

No earlier filing loaded for comparison.

Expenses

$163,606

No earlier filing loaded for comparison.

Net Income

-$1,270

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2015: $562,292Liabilities 2015: $237,311Net Assets 2015: $324,9812015Assets 2016: $531,249Liabilities 2016: $216,276Net Assets 2016: $314,9732016Assets 2017: $518,138Liabilities 2017: $198,384Net Assets 2017: $319,7542017Assets 2018: $505,705Liabilities 2018: $180,071Net Assets 2018: $325,6342018Assets 2019: $479,436Liabilities 2019: $161,047Net Assets 2019: $318,3892019Assets 2020: $468,443Liabilities 2020: $144,752Net Assets 2020: $323,6912020Assets 2021: $467,330Liabilities 2021: $124,375Net Assets 2021: $342,9552021Assets 2022: $440,207Liabilities 2022: $103,838Net Assets 2022: $336,3692022Assets 2023: $469,237Liabilities 2023: $87,086Net Assets 2023: $382,1512023Assets 2024: $443,699Liabilities 2024: $69,403Net Assets 2024: $374,2962024

Highlighted filing

2015

Assets$562,292
Liabilities$237,311
Net Assets$324,981

Operations Trend

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

$200K$150K$100K$50K$0-$50KRevenue 2015: $162,336Expenses 2015: $163,606Net Income 2015: -$1,2702015Revenue 2016: $147,081Expenses 2016: $157,089Net Income 2016: -$10,0082016Revenue 2017: $159,296Expenses 2017: $154,515Net Income 2017: $4,7812017Revenue 2018: $163,313Expenses 2018: $157,433Net Income 2018: $5,8802018Revenue 2019: $156,902Expenses 2019: $164,147Net Income 2019: -$7,2452019Revenue 2020: $164,906Expenses 2020: $159,604Net Income 2020: $5,3022020Revenue 2021: $168,357Expenses 2021: $149,093Net Income 2021: $19,2642021Revenue 2022: $178,803Expenses 2022: $185,389Net Income 2022: -$6,5862022Revenue 2023: $180,743Expenses 2023: $134,961Net Income 2023: $45,7822023Revenue 2024: $180,278Expenses 2024: $188,128Net Income 2024: -$7,8502024

Highlighted filing

2015

Revenue$162,336
Expenses$163,606
Net Income-$1,270
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 17, 2016
Return Version
2015v2.0
Gross Receipts
$162,336
Mission and Program Overview

Mission

To provide affordaable low income housing to the elderly and disabled residents of flora, indiana

To provide affordable low-income housing to the eldery residents of flora, indiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$346,031$339,164▼ $6,867
Savings and Temporary Cash Investments$223,224$216,700▼ $6,524
Cash and Non-Interest-Bearing Accounts$7,513$5,966▼ $1,547
Prepaid Expenses and Deferred Charges$3,093$441▼ $2,652
Accounts Receivable$38$21▼ $17
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$579,899$562,292▼ $17,607
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$241,483$224,341▼ $17,142
Other Liabilities$9,800$9,001▼ $799
Accounts Payable and Accrued Expenses$908$2,299▲ $1,391
Deferred Revenue$1,457$1,670▲ $213
Total Liabilities$253,648$237,311▼ $16,337
Net Assets / Fund Balance
Unrestricted Net Assets$326,251$324,981▼ $1,270
Total Net Assets Fund Balance$326,251$324,981▼ $1,270
Total Liabilities and Net Assets / Fund Balance$579,899$562,292▼ $17,607

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$270,355$867,317$1,137,672
Other Land Buildings$17,655$55,203$72,858
Land$51,154-$51,154
Compensation and Service Providers

Board Members and Trustees

NameTitle
Norman BeckPresident
Dale ZinnVice President
Ann BrownDirector
James PayneDirector
John AyresDirector
Mary Jo RedmonDirector
Trent StephanDirector
Dick N BishopSecretary
Lisa EikenberryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$21,357
Program Service Revenue
$140,571
Investment Income
$408
Other Revenue
$0
Change in Net Assets
$-1,270
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$126,255
Salaries, Compensation, and Employee Benefits$37,351
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$53,915--$53,915
Other Salaries and Wages$14,000$20,750-$34,750
Depreciation Depletion$34,472--$34,472
Insurance$20,548$359-$20,907
Interest$5,207--$5,207
Fees for Services Accounting-$4,710-$4,710
Payroll Taxes$1,048$1,553-$2,601
Office Expenses-$1,659-$1,659
Other Expenses$489$1,200-$489
All Other Expenses-$171-$171
Advertising$41--$41
Total Functional Expenses$133,204$30,402$0$163,606
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits Payable$9,000
Rounding$1
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Flora Apartments Inc
EIN
35-1496962
Phone
5749673033
Address
115 NORTH DIVISION STREET, FLORA, IN 46929

Signing Officer

Name
Norman Beck
Title
President
Signed
2016-06-17
Discuss with paid preparer
Yes

Organization Details

Formed
1970
Legal Domicile
In
Voting Board Members
9
Independent Board Members
0
Employees
0

Preparer

Firm
Wagner & Associates Inc
Address
2330 BEACON STREET, FORT WAYNE, IN 46805
Preparer
Robert a Wagner CPA
Phone
2604840478
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1270
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0223224
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0216700
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt021357
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt019714
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt022656
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt014621
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt015576
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt093924
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0408
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0434
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0494
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt05736
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt07750
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt014822
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0140571
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0134588
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0128089
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0107643
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt098599
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0609490
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0408
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0434
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0494
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt05736
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt07750
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt014822
IRS990ScheduleA/InvestmentIncomeCYPct00.02060
IRS990ScheduleA/InvestmentIncomePYPct00.03710
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.97940
IRS990ScheduleA/PublicSupportPY509Pct00.96290
IRS990ScheduleA/PublicSupportTotal509Amt0703414
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IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0161928
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0154302
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0150745
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0122264
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0114175
IRS990ScheduleA/Total509Grp/TotalAmt0703414
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0162336
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0154736
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0151239
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0128000
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0121925
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0718236
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0270355
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0867317
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01137672
IRS990ScheduleD/LandGrp/BookValueAmt051154
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt051154
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt017655
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt055203
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt072858
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt19000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0339164
IRS990ScheduleD/TotalLiabilityAmt09001
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0579899
IRS990/TotalAssetsEOYAmt0562292
IRS990/TotalAssetsGrp/BOYAmt0579899
IRS990/TotalAssetsGrp/EOYAmt0562292
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt021357
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt030402
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0133204
IRS990/TotalFunctionalExpensesGrp/TotalAmt0163606
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0253648
IRS990/TotalLiabilitiesEOYAmt0237311

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