Civic Intelligence

Forest Acres Inc

EIN 36-3671316 • 501(c)3 • Sioux City, IA

Profile

To provide housing for the physically and mentally disabled and elderly.

3100 W 4th StreetSioux City, IA 51103

n/A

Siviq Scores

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

Liabilities / Assets

97th percentile

2.69x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

3.28x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

14th percentile

-48%

Higher net margin than 14% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

35th percentile

-14%

Faster asset growth than 35% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2024

Revenue Growth

46th percentile

-4.6%

Faster revenue growth than 46% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2024

Assets

Down

$242,847

Down $42,803 (-15%) from 2023

Liabilities

Up

$652,856

Up $51,959 (+8.6%) from 2023

Net Assets

Down

-$410,009

Down $94,762 (-30%) from 2023

Revenue

Down

$199,000

Down $12,203 (-5.8%) from 2023

Expenses

Up

$293,762

Up $80,438 (+38%) from 2023

Net Income

Down

-$94,762

Down $92,641 (-4368%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2014: $424,280Liabilities 2014: $765,499Net Assets 2014: -$341,2192014Assets 2015: $414,319Liabilities 2015: $755,649Net Assets 2015: -$341,3302015Assets 2016: $392,101Liabilities 2016: $737,863Net Assets 2016: -$345,7622016Assets 2017: $380,187Liabilities 2017: $718,299Net Assets 2017: -$338,1122017Assets 2018: $415,927Liabilities 2018: $708,121Net Assets 2018: -$292,1942018Assets 2019: $400,850Liabilities 2019: $692,675Net Assets 2019: -$291,8252019Assets 2020: $383,035Liabilities 2020: $672,779Net Assets 2020: -$289,7442020Assets 2021: $349,101Liabilities 2021: $655,092Net Assets 2021: -$305,9912021Assets 2022: $325,079Liabilities 2022: $638,205Net Assets 2022: -$313,1262022Assets 2023: $285,650Liabilities 2023: $600,897Net Assets 2023: -$315,2472023Assets 2024: $242,847Liabilities 2024: $652,856Net Assets 2024: -$410,0092024

Highlighted filing

2024

Assets$242,847
Liabilities$652,856
Net Assets-$410,009

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2014: $192,445Expenses 2014: $182,461Net Income 2014: $9,9842014Revenue 2015: $195,822Expenses 2015: $195,933Net Income 2015: -$1112015Revenue 2016: $195,204Expenses 2016: $199,636Net Income 2016: -$4,4322016Revenue 2017: $203,871Expenses 2017: $196,221Net Income 2017: $7,6502017Revenue 2018: $256,510Expenses 2018: $210,592Net Income 2018: $45,9182018Revenue 2019: $210,281Expenses 2019: $209,912Net Income 2019: $3692019Revenue 2020: $209,758Expenses 2020: $207,677Net Income 2020: $2,0812020Revenue 2021: $213,767Expenses 2021: $230,014Net Income 2021: -$16,2472021Revenue 2022: $218,498Expenses 2022: $225,633Net Income 2022: -$7,1352022Revenue 2023: $211,203Expenses 2023: $213,324Net Income 2023: -$2,1212023Revenue 2024: $199,000Expenses 2024: $293,762Net Income 2024: -$94,7622024

Highlighted filing

2024

Revenue$199,000
Expenses$293,762
Net Income-$94,762

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 6, 2025
Return Version
2023v6.0
Gross Receipts
$199,000
Mission and Program Overview

Mission

HOUSING FOR THE DISABLED

To provide housing to the physically and mentally disabled and the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$221,051$194,924▼ $26,127
Savings and Temporary Cash Investments$27,549$36,372▲ $8,823
Prepaid Expenses and Deferred Charges$10,075$8,826▼ $1,249
Cash and Non-Interest-Bearing Accounts$26,955$2,419▼ $24,536
Accounts Receivable$20$306▲ $286
Total Assets$285,650$242,847▼ $42,803
Liabilities
Mortgage Notes Payable Secured by Investment Property$482,316$448,651▼ $33,665
Other Liabilities$96,006$180,377▲ $84,371
Accounts Payable and Accrued Expenses$20,190$22,096▲ $1,906
Deferred Revenue$2,385$1,732▼ $653
Total Liabilities$600,897$652,856▲ $51,959
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-315,247$-410,009▼ $94,762
Total Net Assets Fund Balance$-315,247$-410,009▼ $94,762
Total Liabilities and Net Assets / Fund Balance$285,650$242,847▼ $42,803

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$172,365$637,900$810,265
Equipment$0$49,487$49,487
Land$22,559-$22,559
Compensation and Service Providers

Board Members and Trustees

NameTitle
Anthony LambChairperson
Brandi JorgensenVice Chairperson
Bill WiebelhausDirector
Briget SolomonDirector
Carol JohnsonDirector
Chuck CorbettDirector
Dale JansDirector
Dan PecautDirector
Ed ArshemDirector
Kathryn JohnsonDirector
Rebecca Chief EagleDirector
Steve KistnerDirector
Terry KeimeDirector
Treyla LeeDirector
Will PoulsonDirector
Brianna EatonSecretary
Aaron GehlingTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$120,955
Program Service Revenue
$77,530
Investment Income
$515
Other Revenue
$0
Change in Net Assets
$-94,762

Audited Revenue Reconciliation

Revenue per Audited Statements
$199,000
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$199,000
Total Revenue per Form 990
$199,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$293,762
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$96,827--$96,827
Fees for Services Management$10,579$32,310-$42,889
Depreciation Depletion$26,906--$26,906
Fees for Services Accounting-$13,147-$13,147
Other Expenses$12,114--$12,114
Office Expenses-$7,246-$7,246
Travel-$2,203-$2,203
Advertising-$958-$958
Fees for Services Legal-$811-$811
Conferences and Meetings-$694-$694
All Other Expenses-$503-$503
Total Functional Expenses$235,890$57,872$0$293,762

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$293,762
Total Expenses per Audited Statements$293,762
Total Expenses per Form 990$293,762
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
Advance From Sponsor$175,638
Tenant Security Deposits$4,739
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
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 3

Forest acres has an agreement with a management agent for the management of its apartment complex. The management agent's duties under the management agreement include administration and maintenance of the project.

Form 990, Part VI, Section A, Line 4

The project's bylaws were amended.

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

The signing director reviews the form 990 before it is filed.

Form 990, Part VI, Section C, Line 19

Forest acres makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Forest Acres Inc
EIN
36-3671316
Phone
7122584511
Address
3100 W 4TH STREET, SIOUX CITY, IA 51103

Signing Officer

Name
Briget Solomon
Title
Director
Phone
7122584511
Signed
2025-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Briget Solomon
Formed
1987
Legal Domicile
Ne
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
17

Preparer

Firm
King Reinsch Prosser & Co Llp
Address
522 4TH STREET SUITE 200, SIOUX CITY, IA 51101
Preparer
Rebecca George
Phone
7122585550
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The process has not changed from the prior year.

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IRS990/OccupancyGrp/ProgramServicesAmt096827
IRS990/OccupancyGrp/TotalAmt096827
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07246
IRS990/OfficeExpensesGrp/TotalAmt07246
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc1SNOW REMOVAL/GROUNDS UP
IRS990/OtherExpensesGrp/Desc2JANITOR, CLEANING, AND
IRS990/OtherExpensesGrp/Desc3OTHER SUPPLIES
IRS990/OtherExpensesGrp/ProgramServicesAmt058837
IRS990/OtherExpensesGrp/ProgramServicesAmt118341
IRS990/OtherExpensesGrp/ProgramServicesAmt212286
IRS990/OtherExpensesGrp/ProgramServicesAmt312114
IRS990/OtherExpensesGrp/TotalAmt058837
IRS990/OtherExpensesGrp/TotalAmt118341
IRS990/OtherExpensesGrp/TotalAmt212286
IRS990/OtherExpensesGrp/TotalAmt312114
IRS990/OtherLiabilitiesGrp/BOYAmt096006
IRS990/OtherLiabilitiesGrp/EOYAmt0180377
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt010075
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08826
IRS990/PrincipalOfficerNm0BRIGET SOLOMON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0TENANT RENT REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt077530
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt077530
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0129120
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt016
IRS990/PYOtherExpensesAmt0213324
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt082067
IRS990/PYRevenuesLessExpensesAmt0-2121
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0213324
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0211203
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-94762
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt077530
IRS990/SavingsAndTempCashInvstGrp/BOYAmt027549
IRS990/SavingsAndTempCashInvstGrp/EOYAmt036372
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0120955
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0129120
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0133653
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0131167
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0130343
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0645238
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0515
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt016
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt067
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt087
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt094
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0779
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0406179
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99880
IRS990ScheduleA/PublicSupportPY170Pct00.99940
IRS990ScheduleA/PublicSupportTotal170Amt0645238
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0120955
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0129120
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0133653
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0131167
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0130343
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0645238
IRS990ScheduleA/TotalSupportAmt0646017
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0172365
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0637900
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0810265
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt049487
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt049487
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0293762
IRS990ScheduleD/LandGrp/BookValueAmt022559
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt022559
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04739
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1175638
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ADVANCE FROM SPONSOR
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0199000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0194924
IRS990ScheduleD/TotalExpensesPerForm990Amt0293762
IRS990ScheduleD/TotalLiabilityAmt0180377
IRS990ScheduleD/TotalRevenuePerForm990Amt0199000
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0199000
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0293762
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0166507
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt010108
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt013437
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRIGET SOLOMON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0190052
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01

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