Civic Intelligence

Perry Farm Development Co

990 • Fiscal year 2019 • EIN 35-2183523

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

4241 Village Circle DrHarbor Springs, MI 49740

(231) 526-1500

Siviq Scores

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

Liabilities / Assets

85th percentile

0.61x

Higher debt load relative to assets than 85% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

83rd percentile

0.69x

Higher debt load relative to revenue than 83% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

58th percentile

6.3%

Higher net margin than 58% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

79th percentile

$129,263

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Assets

$1,717,151

No earlier filing loaded for comparison.

Net Assets

$664,941

No earlier filing loaded for comparison.

Liabilities

$1,052,210

No earlier filing loaded for comparison.

Revenue

$1,532,529

No earlier filing loaded for comparison.

Expenses

$1,436,731

No earlier filing loaded for comparison.

Net Income

$95,798

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.

$2.0M$1.5M$1.0M$500K$0Assets 2019: $1,717,151Liabilities 2019: $1,052,210Net Assets 2019: $664,9412019Assets 2020: $1,620,579Liabilities 2020: $950,776Net Assets 2020: $669,8032020Assets 2021: $1,720,873Liabilities 2021: $1,011,702Net Assets 2021: $709,1712021Assets 2022: $1,566,650Liabilities 2022: $1,157,606Net Assets 2022: $409,0442022Assets 2023: $1,160,128Liabilities 2023: $801,410Net Assets 2023: $358,7182023Assets 2024: $1,179,725Liabilities 2024: $882,476Net Assets 2024: $297,2492024

Highlighted filing

2019

Assets$1,717,151
Liabilities$1,052,210
Net Assets$664,941

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $1,532,529Expenses 2019: $1,436,731Net Income 2019: $95,7982019Revenue 2020: $1,385,095Expenses 2020: $1,380,233Net Income 2020: $4,8622020Revenue 2021: $1,392,455Expenses 2021: $1,353,087Net Income 2021: $39,3682021Revenue 2022: $1,394,427Expenses 2022: $1,694,554Net Income 2022: -$300,1272022Revenue 2023: $2,586,180Expenses 2023: $2,636,506Net Income 2023: -$50,3262023Revenue 2024: $3,055,240Expenses 2024: $3,116,709Net Income 2024: -$61,4692024

Highlighted filing

2019

Revenue$1,532,529
Expenses$1,436,731
Net Income$95,798
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.1
Gross Receipts
$1,532,529
Mission and Program Overview

Mission

Guided by our christian heritage, we serve seniors of all faiths and create new possibilities for quality living. Our faith traditions call us to create diverse environments, programs and services where seniors are able to achieve the best possibilities and purposes in life.

To serve seniors of all faiths & to create new possibilities for quality senior living.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,384,681$1,428,646▲ $43,965
Accounts Receivable$100,888$216,410▲ $115,522
Savings and Temporary Cash Investments$44,284$54,309▲ $10,025
Cash and Non-Interest-Bearing Accounts$5,700$6,498▲ $798
Total Assets$1,565,949$1,717,151▲ $151,202
Other Assets Total$30,396$11,288▼ $19,108
Liabilities
Mortgage Notes Payable Secured by Investment Property-$832,068-
Tax Exempt Bond Liabilities$760,795--
Accounts Payable and Accrued Expenses$30,912$211,100▲ $180,188
Other Liabilities$205,099$9,042▼ $196,057
Total Liabilities$996,806$1,052,210▲ $55,404
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$569,143$664,941▲ $95,798
Total Net Assets Fund Balance$569,143$664,941▲ $95,798
Total Liabilities and Net Assets / Fund Balance$1,565,949$1,717,151▲ $151,202

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,180,232$622,528$1,802,760
Equipment$77,899$381,847$459,746
Other Land Buildings$31,515$157,327$188,842
Land$139,000-$139,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald HouseVP of Finance--$129,263$129,263
Mary Catherine HannahExecutive DirectorPT$29,766$66,484$96,250

Board Members and Trustees

NameTitle
Linda Rhodes-paulyPresident
Kay FlavinVice President
Debra SchirmerDirector
Edy StoughtonDirector
Fred WalstromDirector
Jean JardineDirector
Karin FlintDirector
Kate KellyDirector
Linda RileyDirector
Mark SlaterDirector
Roy Griffitts JrDirector
Terry KeatingDirector
Andrew SpenceSecretary
David HartnettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$147,410
Program Service Revenue
$1,007,446
Investment Income
$52
Other Revenue
$377,621
Change in Net Assets
$95,798
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$723,824
Other Expenses$712,907
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$365,192$17,948-$383,140
Current Officers, Directors, Trustees, and Key Employees$214,952$10,564-$225,516
Occupancy$37,918$120,363-$158,281
Depreciation Depletion$106,308--$106,308
Fees for Services Other$75,898--$75,898
Other Employee Benefits$66,844$3,286-$70,130
Fees for Services Management-$67,836-$67,836
Advertising-$55,112-$55,112
Office Expenses$21,845$23,510-$45,355
Payroll Taxes$40,501$1,991-$42,492
Interest-$41,204-$41,204
Travel-$23,289-$23,289
Insurance$12,043--$12,043
Fees for Services Accounting-$8,180-$8,180
Other Expenses$39,771$6,408-$6,408
Pension Plan Contributions$2,427$119-$2,546
Fees for Services Legal-$1,488-$1,488
Total Functional Expenses$1,055,433$381,298$0$1,436,731
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
Resident Security Deposits$9,042
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization contracts with presbyterian villages of michigan for management services.

Form 990, Part VI, Section A, Line 6

Presbyterian villages of michigan is the sole member of the corporation

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

Presbyterian villages of michigan is the sole member of the corporation and appoints the members of the board.

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

Presbyterian villages of michigan is the sole member and manangement company of the corporation.

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

After the form 990 is prepared by the cpa firm, an officer reviews the return for accuracy. Once any questions are addressed, the form 990 is provided to the board at a meeting prior to filing.

Form 990, Part VI, Section B, Line 12

Presbyterian villages of michigan annually distributes conflict of interest forms to all board members and senior staff. Forms are returned to the pvm offices. This organization does not have its own conflict of interest policy, but uses the conflict of interest policy of presbyterian villages of michigan.

Form 990, Part VI, Section B, Line 15

A biannual salary study is conducted by an independent compensation analyst who reports to the pvm sr vp of hr and to the pvm human resources committee of the board. Wage rates are studied for all employee positions.

Form 990, Part VI, Section C, Line 18

Governing documents are available to the public upon request. Annual audits and form 990 are available at www.pvm.org.

Form 990, Part VI, Section C, Line 19

The organization has not yet established a process for publically disclosing its governing documents or conflict of interest policy. Such items are available to the public upon request. Annual audits and form 990 are available at www.pvm.org.

Form 990, Part VI, Section B, Line 13

The organization does not have its own whistleblower policy. It relies on the policy of pvm, its management company.

Form 990, Part VI, Section B, Line 14

The organization does not have a written document retention policy approved by its board of directors, it relies on the policy adopted by presbyterian villages of michigan, its management agent.

Filing and Contact Details

Filer

Filer Name
Perry Farm Development Co
EIN
35-2183523
Phone
2315261500
Address
4241 VILLAGE CIRCLE DR, HARBOR SPRINGS, MI 49740
Doing Business As
Perry Farm Village

Signing Officer

Name
David Hartnett
Title
Treasurer
Phone
2315261500
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Catherine Hannah
Formed
2001
Legal Domicile
Mi
Voting Board Members
15
Independent Board Members
14
Employees
24
Volunteers
16

Preparer

Firm
Maner Costerisan Pc
Address
2425 E GRAND RIVER SUITE 1, LANSING, MI 48912-3291
Preparer
Keith R Pfeifle CPA
Phone
5173237500
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 2A

Pvm acts as a common pay master for all entities within the pvm system, therefore this organization files w2 forms for all employees of the system. The organization reported here has approximately 24 employees.

Financial Statement Notes

PART X, LINE 2:

In the preparation of tax returns, tax positions are taken based on interpretation of federal, state and local income tax laws. Management periodically reviews and evaluates the status of uncertain tax positions and makes estimates of amounts, including interest and penalties, ultimately due or owed. No amounts have been identified, or recorded, as uncertain tax positions. Federal, state and local tax returns generally remain open for examination by various taxing authorities for a period of three to four years.

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IRS990/MembersOrStockholdersInd01
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IRS990/MinutesOfCommitteesInd01
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt023510
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IRS990/OtherExpensesGrp/TotalAmt139771
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt052
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