Civic Intelligence

Forest Acres Inc.

990 • Fiscal year 2020 • EIN 36-3671316

Jul 01, 2019 to Jun 30, 2020 • Filed on May 12, 2021

3100 W 4th StreetSioux City, IA 51103

(712) 258-4511

Siviq Scores

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

Liabilities / Assets

96th percentile

1.76x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

3.21x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

43rd percentile

1.0%

Higher net margin than 43% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

99th percentile

$311,356

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 148.4% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

34th percentile

-4.4%

Faster asset growth than 34% of similar nonprofits.

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

Revenue Growth

64th percentile

-0.2%

Faster revenue growth than 64% of similar nonprofits.

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

Assets

Down

$383,035

Down $17,815 (-4.4%) from 2019

Net Assets

Up

-$289,744

Up $2,081 (+0.7%) from 2019

Liabilities

Down

$672,779

Down $19,896 (-2.9%) from 2019

Revenue

Down

$209,758

Down $523 (-0.2%) from 2019

Expenses

Down

$207,677

Down $2,235 (-1.1%) from 2019

Net Income

Up

$2,081

Up $1,712 (+464%) from 2019

Historical Trend

Balance Sheet Trend

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

$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

2020

Assets$383,035
Liabilities$672,779
Net Assets-$289,744

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$209,758
Expenses$207,677
Net Income$2,081
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 12, 2021
Return Version
2019v5.2
Gross Receipts
$209,758
Mission and Program Overview

Mission

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

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$320,633$299,784▼ $20,849
Savings and Temporary Cash Investments$51,154$50,068▼ $1,086
Cash and Non-Interest-Bearing Accounts$17,414$22,316▲ $4,902
Prepaid Expenses and Deferred Charges$11,590$10,765▼ $825
Accounts Receivable$59$102▲ $43
Total Assets$400,850$383,035▼ $17,815
Liabilities
Mortgage Notes Payable Secured by Investment Property$590,477$566,958▼ $23,519
Other Liabilities$83,987$84,321▲ $334
Accounts Payable and Accrued Expenses$18,001$19,993▲ $1,992
Deferred Revenue$210$1,507▲ $1,297
Total Liabilities$692,675$672,779▼ $19,896
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-291,825$-289,744▲ $2,081
Total Net Assets Fund Balance$-291,825$-289,744▲ $2,081
Total Liabilities and Net Assets / Fund Balance$400,850$383,035▼ $17,815

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$277,225$533,040$810,265
Equipment$0$49,487$49,487
Land$22,559-$22,559
Compensation and Service Providers

Board Members and Trustees

NameTitle
Chuck CorbettChairperson
Steve KistnerVice Chairperson
Bruce OdsonDirector
Dale JansDirector
Dan PecautDirector
Ed ArshemDirector
Gary DybsetterDirector
Kathryn JohnsonDirector
Sandra RundeDirector
Scott EldridgeDirector
Terry KeimeDirector
Will PoulsonDirector
Jan PoulsonSecretary/treasurer
John HantlaTop Management Official
Revenue and Support

Revenue Composition

Contributions and Grants
$130,343
Program Service Revenue
$79,321
Investment Income
$94
Other Revenue
$0
Change in Net Assets
$2,081

Audited Revenue Reconciliation

Revenue per Audited Statements
$209,758
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$209,758
Total Revenue per Form 990
$209,758
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$207,677
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$100,054--$100,054
Fees for Services Management$14,408$28,785-$43,193
Depreciation Depletion$26,769--$26,769
Office Expenses-$7,541-$7,541
Fees for Services Accounting-$7,505-$7,505
Other Expenses$2,716--$2,716
Conferences and Meetings-$594-$594
Travel-$572-$572
Advertising-$378-$378
Total Functional Expenses$162,302$45,375$0$207,677

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$207,677
Total Expenses per Audited Statements$207,677
Total Expenses per Form 990$207,677
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$78,998
Tenant Security Deposits$5,323
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
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

Jan poulson and will poulson have a family relationship.

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 B, Line 11B

The chief financial officer and chief administrative officer for goodwill of the great plains, the sponsor, review 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
John Hantla
Title
President, Goodwill - Great Plains
Phone
7122584511
Signed
2021-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Hantla
Formed
1987
Legal Domicile
Ne
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

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.

Raw XML AppendixShowing 400 of 528 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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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0129046
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0104
IRS990/PYOtherExpensesAmt0209912
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt081131
IRS990/PYRevenuesLessExpensesAmt0369
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0209912
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0210281
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02081
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt079415
IRS990/SavingsAndTempCashInvstGrp/BOYAmt051154
IRS990/SavingsAndTempCashInvstGrp/EOYAmt050068
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0130343
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0129046
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0122451
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0122667
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0117656
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0622163
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt094
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0104
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0229
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0157
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0128
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0712
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0451865
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99890
IRS990ScheduleA/PublicSupportPY170Pct00.99880
IRS990ScheduleA/PublicSupportTotal170Amt0622163
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0130343
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0129046
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0122451
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0122667
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0117656
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0622163
IRS990ScheduleA/TotalSupportAmt0622875
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/BookValueAmt0277225
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0533040
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0810265
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt049487
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt049487
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0207677
IRS990ScheduleD/LandGrp/BookValueAmt022559
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt022559
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05323
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt178998
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ADVANCE FROM SPONSOR
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0209758
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0299784
IRS990ScheduleD/TotalExpensesPerForm990Amt0207677
IRS990ScheduleD/TotalLiabilityAmt084321
IRS990ScheduleD/TotalRevenuePerForm990Amt0209758
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0209758
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0207677
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/CompensationBasedOnRltdOrgsAmt0167850
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt084936
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt021470
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt037100
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN HANTLA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TOP MANAGEMENT OFFICIAL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0311356
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JAN POULSON AND WILL POULSON HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FOREST 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CHIEF FINANCIAL OFFICER AND CHIEF ADMINISTRATIVE OFFICER FOR GOODWILL OF THE GREAT PLAINS, THE SPONSOR, REVIEW THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FOREST ACRES MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0GOODWILL OF THE GREAT PLAINS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1GOODWILL OF THE GREAT PLAINS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2GOODWILL OF THE GREAT PLAINS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0GOODWILL OF THE GREAT PLAINS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1PHEASANT ACRES APARTMENTS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2PRAIRIE HAVEN INC

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