Civic Intelligence

Lansing Affordable Homes Inc

990 • Fiscal year 2015 • EIN 38-3110321

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 10, 2016

Organization ProfileN/A
79 Warwick CourtJackson, MI 49203-1859

(517) 394-2778

Siviq Scores

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

Liabilities / Assets

67th percentile

0.28x

Higher debt load relative to assets than 67% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

1.02x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

48th percentile

2.0%

Higher net margin than 48% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

43rd percentile

-0.8%

Faster asset growth than 43% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

42nd percentile

0.6%

Faster revenue growth than 42% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$4,439,999

Down $37,628 (-0.8%) from 2014

Net Assets

Up

$3,205,709

Up $23,733 (+0.7%) from 2014

Liabilities

Down

$1,234,290

Down $61,361 (-4.7%) from 2014

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin48th percentile

Revenue

Up

$1,205,035

Up $6,822 (+0.6%) from 2014

Expenses

Down

$1,181,310

Down $18,710 (-1.6%) from 2014

Net Income

Up

$23,725

Up $25,532 (+1413%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,624,515Liabilities 2010: $1,113,136Net Assets 2010: $3,511,3792010Assets 2011: $4,629,492Liabilities 2011: $1,064,274Net Assets 2011: $3,565,2182011Assets 2012: $4,593,384Liabilities 2012: $995,613Net Assets 2012: $3,597,7712012Assets 2013: $4,514,122Liabilities 2013: $940,116Net Assets 2013: $3,574,0062013Assets 2014: $4,477,627Liabilities 2014: $1,295,651Net Assets 2014: $3,181,9762014Assets 2015: $4,439,999Liabilities 2015: $1,234,290Net Assets 2015: $3,205,7092015Assets 2016: $4,400,083Liabilities 2016: $1,163,880Net Assets 2016: $3,236,2032016Assets 2017: $4,320,096Liabilities 2017: $1,100,797Net Assets 2017: $3,219,2992017Assets 2018: $4,273,363Liabilities 2018: $1,050,059Net Assets 2018: $3,223,3042018

Highlighted filing

2015

Assets$4,439,999
Liabilities$1,234,290
Net Assets$3,205,709
Open 2015 Filing

Operations Trend

Revenue Growth42nd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,131,3072010Expenses 2011: $1,103,5472011Expenses 2012: $1,108,0222012Revenue 2013: $1,156,959Expenses 2013: $1,199,224Net Income 2013: -$42,2652013Revenue 2014: $1,198,213Expenses 2014: $1,200,020Net Income 2014: -$1,8072014Revenue 2015: $1,205,035Expenses 2015: $1,181,310Net Income 2015: $23,7252015Revenue 2016: $1,213,436Expenses 2016: $1,182,942Net Income 2016: $30,4942016Revenue 2017: $1,260,305Expenses 2017: $1,277,204Net Income 2017: -$16,8992017Revenue 2018: $1,247,346Expenses 2018: $1,237,346Net Income 2018: $10,0002018

Highlighted filing

2015

Revenue$1,205,035
Expenses$1,181,310
Net Income$23,725
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 10, 2016
Return Version
2015v2.1
Gross Receipts
$1,208,246
Mission and Program Overview

Mission

To provide low income housing for low and/or moderate income individuals

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,538,538$3,369,168▼ $169,370
Savings and Temporary Cash Investments$862,308$988,081▲ $125,773
Intangible Assets$50,490$38,125▼ $12,365
Prepaid Expenses and Deferred Charges$5,329$20,306▲ $14,977
Accounts Receivable$17,717$19,452▲ $1,735
Cash and Non-Interest-Bearing Accounts$3,245$4,867▲ $1,622
Total Assets$4,477,627$4,439,999▼ $37,628
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,194,353$1,135,220▼ $59,133
Accounts Payable and Accrued Expenses$81,925$78,775▼ $3,150
Other Liabilities$19,373$20,295▲ $922
Total Liabilities$1,295,651$1,234,290▼ $61,361
Net Assets / Fund Balance
Unrestricted Net Assets$3,181,976$3,205,709▲ $23,733
Total Net Assets Fund Balance$3,181,976$3,205,709▲ $23,733
Total Liabilities and Net Assets / Fund Balance$4,477,627$4,439,999▼ $37,628

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,923,144$2,219,532$5,142,676
Equipment$286,024$1,086,477$1,372,501
Land$160,000-$160,000
Other Land Buildings-$71,350$71,350
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Linda BrockwayPresident
Cheryl AlganaDirector
Donna JonesSecretary
Dwayne BarrettTreasurer
Robert VertalkaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,101,184
Program Service Revenue
$105,622
Investment Income
$-1,771
Other Revenue
$0
Change in Net Assets
$23,725

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,208,246
Revenue Not Reported on Financial Statements
$-3,211
Other Revenue Adjustments
$-3,211
Total Revenue per Audited Statements
$1,208,246
Total Revenue per Form 990
$1,205,035
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$871,588
Salaries, Compensation, and Employee Benefits$309,722
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$246,670--$246,670
Other Salaries and Wages$238,488--$238,488
Insurance-$77,891-$77,891
All Other Expenses$71,880--$71,880
Interest$62,035--$62,035
Fees for Services Management-$61,248-$61,248
Other Employee Benefits$51,433--$51,433
Other Expenses$37,716--$37,716
Payroll Taxes$19,801--$19,801
Office Expenses-$10,348-$10,348
Fees for Services Accounting-$6,050-$6,050
Advertising-$2,498-$2,498
Fees for Services Legal-$2,186-$2,186
Conferences and Meetings-$814-$814
Total Functional Expenses$1,020,275$161,035$0$1,181,310

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,184,524
Total Expenses per Audited Statements$1,184,524
Total Expenses per Form 990$1,181,310
Expenses Not Reported on Financial Statements$-3,214
Other Expense Adjustments$-3,214
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
Subscription-security Dep.$18,407
Prepaid Charges-rent$1,888
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Management of the housing corporation has been delegatged to tailor made properties, 1165 north milwaukee, chicago, il 60622”

Form 990, Page 6, Part VI, Line 11B

“Tax returns are provided to the board of directors and discussed prior to being signed by the responsible party.”

Form 990, Page 6, Part VI, Line 12C

“Limited transactions and a small board make monitoring of compliance with conflict of interest policy transparent.”

Form 990, Page 6, Part VI, Line 19

“The organization will provide photocopies of governing documents, audited financial statements, and conflict of interest policy upon request.”

Filing and Contact Details

Filer

Filer Name
Lansing Affordable Homes Inc
EIN
38-3110321
Phone
5173942778
Address
79 WARWICK COURT, JACKSON, MI 49203-1859
Doing Business As
Southridge Park Apartments

Signing Officer

Name
Linda Brockway
Title
President
Phone
5177834984
Signed
2016-06-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Brockway
Formed
1992
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Polk and Associates Plc
Address
30600 TELEGRAPH RD SUITE 2191, BINGHAM FARMS, MI 48025-5714
Preparer
Richard G Williams Jr
Phone
2486425700
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“ROUNDING 8 TOTAL 8”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

“Loss on disposal of assets -3,211”

Schedule D, Page 4, Part XII, Line 4B

“Rounding -3 loss on disposal of assets -3,211”

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt02493
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt011034
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/PublicSupportCY509Pct00.99810
IRS990ScheduleA/PublicSupportPY509Pct00.99780
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01140573
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01157389
IRS990ScheduleA/Total509Grp/TotalAmt05861380
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01209686
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01200954
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01159076
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01142816
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01159882
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05872414
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02219532
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05142676
IRS990ScheduleD/EquipmentGrp/BookValueAmt0286024
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01086477
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01372501
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-3214
IRS990ScheduleD/ExpensesSubtotalAmt01184524
IRS990ScheduleD/LandGrp/BookValueAmt0160000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0160000
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-3214
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt071350
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-3211
IRS990ScheduleD/RevenueSubtotalAmt01208246
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOSS ON DISPOSAL OF ASSETS -3,211
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ROUNDING -3 LOSS ON DISPOSAL OF ASSETS -3,211
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalExpensesPerForm990Amt01181310
IRS990ScheduleD/TotalLiabilityAmt020295
IRS990ScheduleD/TotalRevenuePerForm990Amt01205035
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01208246
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01184524
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT OF THE HOUSING CORPORATION HAS BEEN DELEGATGED TO TAILOR MADE PROPERTIES, 1165 NORTH MILWAUKEE, CHICAGO, IL 60622
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TAX RETURNS ARE PROVIDED TO THE BOARD OF DIRECTORS AND DISCUSSED PRIOR TO BEING SIGNED BY THE RESPONSIBLE PARTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LIMITED TRANSACTIONS AND A SMALL BOARD MAKE MONITORING OF COMPLIANCE WITH CONFLICT OF INTEREST POLICY TRANSPARENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION WILL PROVIDE PHOTOCOPIES OF GOVERNING DOCUMENTS, AUDITED FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ROUNDING 8 TOTAL 8
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt00
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt03181976
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03205709
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA BROCKWAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05177834984
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-06-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LANSING AFFORDABLE HOMES INC
ReturnHeader/Filer/BusinessNameControlTxt0LANS
ReturnHeader/Filer/EIN0383110321
ReturnHeader/Filer/PhoneNum05173942778
ReturnHeader/Filer/USAddress/AddressLine1Txt079 WARWICK COURT
ReturnHeader/Filer/USAddress/CityNm0JACKSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd0492031859
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383388760
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0POLK AND ASSOCIATES PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt030600 TELEGRAPH RD SUITE 2191
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BINGHAM FARMS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0480255714

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,439,999
Liabilities
$1,234,290
Net assets
$3,205,709
Revenue
$1,205,035
Expenses
$1,181,310
Net income
$23,725
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.27$1.05$3.22$1.25$1.24$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.32$1.10$3.22$1.26$1.28$0.02
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.40$1.16$3.24$1.21$1.18$0.03
2015Detailed filing. Detailed filing data is available for this year.$4.44$1.23$3.21$1.21$1.18$0.02
2014Detailed filing. Detailed filing data is available for this year.$4.48$1.30$3.18$1.20$1.20$0.00
2013Detailed filing. Detailed filing data is available for this year.$4.51$0.94$3.57$1.16$1.20$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.59$1.00$3.60$1.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.63$1.06$3.57$1.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.62$1.11$3.51$1.13