Independence Square Apartments Inc.

990EZ • Fiscal year 2017 • EIN 38-2581584

Jan 01, 2017 to Dec 31, 2017 • Filed on Feb 27, 2018

Organization Profile N/A

3051 Commerce Drive Ste 5Fort Gratiot, MI 48059

(810) 385-4463

Siviq Scores

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

3.82x

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

5.22x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

-7.6%

Higher net margin than 26% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Higher top officer pay than 76% of similar nonprofits.

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

-6.6%

Faster asset growth than 33% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

-2.8%

Faster revenue growth than 43% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet

Liabilities / Assets98th percentile

Assets

Down

$117,333

Down $8,292 (-6.6%) from 2016

Net Assets

Down

-$330,951

Down $6,568 (-2.0%) from 2016

Liabilities

Down

$448,284

Down $1,724 (-0.4%) from 2016

Revenue And Expenses

Liabilities / Revenue99th percentile Net Margin26th percentile

Revenue

Down

$85,905

Down $2,454 (-2.8%) from 2016

Expenses

Down

$92,473

Down $12,290 (-12%) from 2016

Net Income

-$6,568

Up $9,836 (+60%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

Highlighted filing

2017

Assets$117,333

Liabilities$448,284

Net Assets-$330,951

Open 2017 Filing

Operations Trend

Revenue Growth43rd percentile

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

Highlighted filing

2017

Revenue$85,905

Expenses$92,473

Net Income-$6,568

Open 2017 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2017 to Dec 31, 2017
Signed: Feb 27, 2018
Return Version: 2017v2.2
Gross Receipts: $85,905

Mission and Program Overview

Mission

To provide elderly persons and handicapped persons with housing facilities and services specifically designed to meet their physical, social, and psychological needs.

To provide elderly persons and handicapped persons with housing facilities and services specifically designed to meet their physical, social and psychological needs.

Program Services

Description	Grants	Expenses
TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.	-	$61,476

Compensation and Service Providers

Top Officer Pay76th percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
HELEN RUFFING	President	-	$0	-	-
FRANK BACON	Treasurer	-	$0	-	-
RICH WARD	Secretary	-	$0	-	-
HARRY OLDENBURG	Board Member	-	$0	-	-
JUDY WORTHINGTON	Board Member	-	$0	-	-

Filing and Contact Details

Filer

Filer Name: Independence Square Apartments Inc
EIN: 38-2581584
Phone: 8103854463
Address: 3051 COMMERCE DRIVE STE 5, FORT GRATIOT, MI 48059

Signing Officer

Name: Helen Ruffing
Title: President
Phone: 8103854463
Signed: 2018-02-27
Discuss with paid preparer: Yes

Preparer

Firm: Stewart Beauvais & Whipple Pc
Address: 1979 HOLLAND AVE SUITE A, PORT HURON, MI 48060-8639
Preparer: Christine I Latour CPA Mst
Phone: 8109843829

Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

“Expenses supplies 1,112 license & permits 1,062 miscellaneous admin 143 non-investment depreciation 8,007 total 10,324”

Form 990-ez, Part II, Line 24

“Accounts receivable 5,237 4,270 equipment 1,212 1,212 less accumulated depreciation 1,212 1,212 tenant security deposits 2,373 2,277 total 7,610 6,547”

Form 990-ez, Part II, Line 26

“Accounts payable and accrued expenses 13,887 21,160 deferred revenue 656 317 tenant security deposits 2,373 2,277 mortgage and other notes payable 433,092 424,530”

Form 990-ez, Part III

“To provide elderly persons and handicapped persons with housing facilities and services specifically designed to meet their physical, social and psychological needs.”

Raw XML Appendix153 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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IRS990EZ/BooksInCareOfDetail/PersonNm	0	INNOVATIVE HOUSING DEV R KIEHLER
IRS990EZ/BooksInCareOfDetail/PhoneNum	0	8103854463
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt	0	3051 COMMERCE DR SUITE 5
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm	0	FORT GRATIOT
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd	0	MI
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd	0	48059
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt	0	25016
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt	0	25794
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd	0	false
IRS990EZ/ContributionsGiftsGrantsEtcAmt	0	77096
IRS990EZ/DonorAdvisedFndsInd	0	false
IRS990EZ/EngagedInExcessBenefitTransInd	0	false
IRS990EZ/ExcessOrDeficitForYearAmt	0	-6568
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt	0	29742
IRS990EZ/FiledScheduleAInd	0	true
IRS990EZ/ForeignFinancialAccountInd	0	false
IRS990EZ/ForeignOfficeInd	0	false
IRS990EZ/Form1120PolFiledInd	0	false
IRS990EZ/Form990TotalAssetsGrp/BOYAmt	0	125625
IRS990EZ/Form990TotalAssetsGrp/EOYAmt	0	117333
IRS990EZ/GrossReceiptsAmt	0	85905
IRS990EZ/InfoInScheduleOPartIIIInd	0	X
IRS990EZ/InfoInScheduleOPartIIInd	0	X
IRS990EZ/InfoInScheduleOPartIInd	0	X
IRS990EZ/InvestmentIncomeAmt	0	19
IRS990EZ/LandAndBuildingsGrp/BOYAmt	0	92999
IRS990EZ/LandAndBuildingsGrp/EOYAmt	0	84992
IRS990EZ/LobbyingActivitiesInd	0	false
IRS990EZ/MadeLoansToFromOfficersInd	0	false
IRS990EZ/MethodOfAccountingAccrualInd	0	X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt	0	-324383
IRS990EZ/NetAssetsOrFundBalancesEOYAmt	0	-330951
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt	0	-324383
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt	0	-330951
IRS990EZ/OccupancyRentUtltsAndMaintAmt	0	52407
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	0	000.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	1	000.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	2	000.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	3	000.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt	4	000.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	0	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	1	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	2	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	3	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt	4	0
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	0	HELEN RUFFING
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	1	FRANK BACON
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	2	RICH WARD
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	3	HARRY OLDENBURG
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm	4	JUDY WORTHINGTON
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	0	PRESIDENT
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	1	TREASURER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	2	SECRETARY
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	3	BOARD MEMBER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt	4	BOARD MEMBER
IRS990EZ/OperateHospitalInd	0	false
IRS990EZ/Organization501c3Ind	0	X
IRS990EZ/OrganizationDissolvedEtcInd	0	false
IRS990EZ/OrganizationHadUBIInd	0	false
IRS990EZ/OtherAssetsTotalDetail/BOYAmt	0	7610
IRS990EZ/OtherAssetsTotalDetail/EOYAmt	0	6547
IRS990EZ/OtherExpensesTotalAmt	0	10324
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt	0	NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt	0	NONE
IRS990EZ/PoliticalCampaignActyInd	0	false
IRS990EZ/PrimaryExemptPurposeTxt	0	TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.
IRS990EZ/ProgramServiceRevenueAmt	0	8790
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt	0	TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt	0	61476
IRS990EZ/ProhibitedTaxShelterTransInd	0	false
IRS990EZ/RelatedOrganizationCtrlEntInd	0	false
IRS990EZ/SchoolOperatingInd	0	false
IRS990EZ/StatesWhereCopyOfReturnIsFldCd	0	MI
IRS990EZ/SubjectToProxyTaxInd	0	false
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt	0	450008
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt	0	448284
IRS990EZ/TanningServicesProvidedInd	0	false
IRS990EZ/TotalExpensesAmt	0	92473
IRS990EZ/TotalProgramServiceExpensesAmt	0	61476
IRS990EZ/TotalRevenueAmt	0	85905
IRS990EZ/TransactionWithControlEntInd	0	false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd	0	false
IRS990EZ/TypeOfOrganizationCorpInd	0	X
IRS990EZ/WebsiteAddressTxt	0	N/A
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt	0	77096
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt	0	77785
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt	0	77248
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt	0	77622
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt	0	34819
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt	0	344570
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt	0	19
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt	0	8
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt	0	10
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt	0	44
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt	0	44
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt	0	125
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt	0	49796
IRS990ScheduleA/PublicOrganization170Ind	0	X
IRS990ScheduleA/PublicSupportCY170Pct	0	0.99960
IRS990ScheduleA/PublicSupportPY170Pct	0	0.99960
IRS990ScheduleA/PublicSupportTotal170Amt	0	344570
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind	0	X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt	0	77096
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt	0	77785
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt	0	77248
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt	0	77622
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt	0	34819
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt	0	344570
IRS990ScheduleA/TotalSupportAmt	0	344695
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	EXPENSES SUPPLIES 1,112 LICENSE & PERMITS 1,062 MISCELLANEOUS ADMIN 143 NON-INVESTMENT DEPRECIATION 8,007 TOTAL 10,324
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	ACCOUNTS RECEIVABLE 5,237 4,270 EQUIPMENT 1,212 1,212 LESS ACCUMULATED DEPRECIATION 1,212 1,212 TENANT SECURITY DEPOSITS 2,373 2,277 TOTAL 7,610 6,547
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	ACCOUNTS PAYABLE AND ACCRUED EXPENSES 13,887 21,160 DEFERRED REVENUE 656 317 TENANT SECURITY DEPOSITS 2,373 2,277 MORTGAGE AND OTHER NOTES PAYABLE 433,092 424,530
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990-EZ, PART II, LINE 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990-EZ, PART II, LINE 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990-EZ, PART III
ReturnHeader/BuildTS	0	2018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	true
ReturnHeader/BusinessOfficerGrp/PersonNm	0	HELEN RUFFING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	8103854463
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2018-02-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	INDEPENDENCE SQUARE APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt	0	INDE
ReturnHeader/Filer/EIN	0	382581584
ReturnHeader/Filer/PhoneNum	0	8103854463
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	3051 COMMERCE DRIVE STE 5
ReturnHeader/Filer/USAddress/CityNm	0	FORT GRATIOT
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	MI
ReturnHeader/Filer/USAddress/ZIPCd	0	48059
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd	0	P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt	0	70.88.127.114
ReturnHeader/FilingSecurityInformation/IPDt	0	2018-03-01
ReturnHeader/FilingSecurityInformation/IPTimezoneCd	0	CS
ReturnHeader/FilingSecurityInformation/IPTm	0	16:13:00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	382775143
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	STEWART BEAUVAIS & WHIPPLE PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	1979 HOLLAND AVE SUITE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	PORT HURON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	480608639
ReturnHeader/PreparerPersonGrp/PhoneNum	0	8109843829
ReturnHeader/PreparerPersonGrp/PreparationDt	0	2018-02-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	CHRISTINE I LATOUR CPA MST
ReturnHeader/ReturnTs	0	2018-03-01T17:13:00-05:00
ReturnHeader/ReturnTypeCd	0	990EZ
ReturnHeader/TaxPeriodBeginDt	0	2017-01-01
ReturnHeader/TaxPeriodEndDt	0	2017-12-31
ReturnHeader/TaxYr	0	2017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing

Assets: $117,333
Liabilities: $448,284
Net assets: -$330,951
Revenue: $85,905
Expenses: $92,473
Net income: -$6,568

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2025Detailed filing. Detailed filing data is available for this year.	$1.65	$3.40	$1.76	$1.08	$0.96	$0.12
2024Detailed filing. Detailed filing data is available for this year.	$1.64	$3.51	$1.88	$1.04	$0.97	$0.07
2023Detailed filing. Detailed filing data is available for this year.	$1.70	$3.65	$1.95	$1.02	$1.01	$0.00
2022Detailed filing. Detailed filing data is available for this year.	$1.82	$3.77	$1.95	$0.99	$0.91	$0.08
2021Detailed filing. Detailed filing data is available for this year.	$1.88	$3.90	$2.03	$0.98	$0.80	$0.18
2020Detailed filing. Detailed filing data is available for this year.	$0.86	$4.10	$3.24	$0.96	$0.92	$0.05
2019Detailed filing. Detailed filing data is available for this year.	$0.99	$4.28	$3.29	$0.92	$0.95	$0.03
2018Detailed filing. Detailed filing data is available for this year.	$1.08	$4.34	$3.26	$0.92	$0.87	$0.05
2017Detailed filing. Detailed filing data is available for this year.	$1.17	$4.48	$3.31	$0.86	$0.92	$0.07
2016Detailed filing. Detailed filing data is available for this year.	$1.26	$4.50	$3.24	$0.88	$1.05	$0.16
2015Detailed filing. Detailed filing data is available for this year.	$1.47	$4.55	$3.08	$0.87	$1.17	$0.30
2014Detailed filing. Detailed filing data is available for this year.	$1.75	$4.53	$2.78	$0.88	$1.08	$0.21
2013Detailed filing. Detailed filing data is available for this year.	$2.00	$4.58	$2.58	$0.45	$1.05	$0.59
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$2.69	$4.67	$1.98		$1.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.	$2.85	$4.64	$1.79		$1.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.	$3.14	$4.71	$1.57		$0.97