Civic Intelligence

Johnstone Apartments Inc.

990 • Fiscal year 2015 • EIN 38-3111325

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

Organization ProfileNA
3051 Commerce Drive Rm/Ste 5Fort Gratiot, MI 48059

(810) 385-4463

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.05x

Higher debt load relative to assets than 72% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

87th percentile

0.20x

Higher debt load relative to revenue than 87% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

2nd percentile

-365%

Higher net margin than 2% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

9th percentile

-49%

Faster asset growth than 9% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

60th percentile

7.5%

Faster revenue growth than 60% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$373,397

Down $355,159 (-49%) from 2014

Net Assets

Down

$354,209

Down $360,994 (-50%) from 2014

Liabilities

Up

$19,188

Up $5,835 (+44%) from 2014

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin2nd percentile

Revenue

Up

$96,751

Up $6,730 (+7.5%) from 2014

Expenses

Up

$449,906

Up $341,960 (+317%) from 2014

Net Income

Down

-$353,155

Down $335,230 (-1870%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$800K$600K$400K$200K$0Assets 2010: $778,154Liabilities 2010: $16,293Net Assets 2010: $761,8612010Assets 2011: $780,102Liabilities 2011: $15,440Net Assets 2011: $764,6622011Assets 2012: $758,290Liabilities 2012: $6,590Net Assets 2012: $751,7002012Assets 2013: $730,804Liabilities 2013: $6,646Net Assets 2013: $724,1582013Assets 2014: $728,556Liabilities 2014: $13,353Net Assets 2014: $715,2032014Assets 2015: $373,397Liabilities 2015: $19,188Net Assets 2015: $354,2092015Assets 2016: $355,878Liabilities 2016: $31,808Net Assets 2016: $324,0702016Assets 2017: $340,727Liabilities 2017: $33,815Net Assets 2017: $306,9122017Assets 2018: $328,272Liabilities 2018: $41,119Net Assets 2018: $287,1532018Assets 2019: $303,401Liabilities 2019: $25,762Net Assets 2019: $277,6392019Assets 2020: $283,282Liabilities 2020: $15,689Net Assets 2020: $267,5932020Assets 2021: $267,647Liabilities 2021: $14,042Net Assets 2021: $253,6052021Assets 2022: $279,933Liabilities 2022: $14,799Net Assets 2022: $265,1342022Assets 2023: $300,633Liabilities 2023: $32,881Net Assets 2023: $267,7522023Assets 2024: $296,558Liabilities 2024: $33,361Net Assets 2024: $263,1972024Assets 2025: $310,423Liabilities 2025: $34,187Net Assets 2025: $276,2362025

Highlighted filing

2015

Assets$373,397
Liabilities$19,188
Net Assets$354,209
Open 2015 Filing

Operations Trend

Revenue Growth60th percentile

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

$500K$0-$500KExpenses 2010: $105,7402010Expenses 2011: $102,3062011Expenses 2012: $105,3012012Revenue 2013: $92,008Expenses 2013: $101,029Net Income 2013: -$9,0212013Revenue 2014: $90,021Expenses 2014: $107,946Net Income 2014: -$17,9252014Revenue 2015: $96,751Expenses 2015: $449,906Net Income 2015: -$353,1552015Revenue 2016: $88,251Expenses 2016: $118,334Net Income 2016: -$30,0832016Revenue 2017: $89,547Expenses 2017: $106,670Net Income 2017: -$17,1232017Revenue 2018: $87,087Expenses 2018: $106,745Net Income 2018: -$19,6582018Revenue 2019: $92,995Expenses 2019: $102,562Net Income 2019: -$9,5672019Revenue 2020: $93,260Expenses 2020: $103,343Net Income 2020: -$10,0832020Revenue 2021: $96,214Expenses 2021: $110,169Net Income 2021: -$13,9552021Revenue 2022: $131,476Expenses 2022: $119,710Net Income 2022: $11,7662022Revenue 2023: $131,866Expenses 2023: $129,248Net Income 2023: $2,6182023Revenue 2024: $124,231Expenses 2024: $128,786Net Income 2024: -$4,5552024Revenue 2025: $127,720Expenses 2025: $114,681Net Income 2025: $13,0392025

Highlighted filing

2015

Revenue$96,751
Expenses$449,906
Net Income-$353,155
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 10, 2016
Return Version
2015v2.1
Gross Receipts
$438,346
Mission and Program Overview

Mission

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

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$369,997$349,750▼ $20,247
Savings and Temporary Cash Investments$7,775$15,053▲ $7,278
Investments in Publicly Traded Securities$345,966$5,208▼ $340,758
Cash and Non-Interest-Bearing Accounts$829$679▼ $150
Accounts Receivable$1,874$252▼ $1,622
Total Assets$728,556$373,397▼ $355,159
Other Assets Total$2,115$2,455▲ $340
Liabilities
Accounts Payable and Accrued Expenses$10,805$12,803▲ $1,998
Other Liabilities$2,115$4,594▲ $2,479
Deferred Revenue$433$1,791▲ $1,358
Total Liabilities$13,353$19,188▲ $5,835
Net Assets / Fund Balance
Temporarily Rstr Net Assets$354,048$338,597▼ $15,451
Unrestricted Net Assets$361,155$15,612▼ $345,543
Total Net Assets Fund Balance$715,203$354,209▼ $360,994
Total Liabilities and Net Assets / Fund Balance$728,556$373,397▼ $355,159

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$302,818$370,190$673,008
Land$46,932-$46,932
Equipment-$3,980$3,980
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Frank BaconPresident
Harry OldenburgBoard Member
Judy WorthingtonBoard Member
Peter MallerySecretary
Helen RuffingTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$67,984
Program Service Revenue
$16,092
Investment Income
$11,479
Other Revenue
$1,196
Change in Net Assets
$-353,155
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$449,906
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$38,976--$38,976
Depreciation Depletion$20,247--$20,247
Fees for Services Other$688$13,979-$14,667
Fees for Services Accounting-$12,910-$12,910
Fees for Services Management-$6,768-$6,768
Insurance$3,222--$3,222
Fees for Services Legal-$2,092-$2,092
Office Expenses-$963-$963
Other Expenses$1,307$170-$170
Total Functional Expenses$405,836$44,070$0$449,906
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
Tenant Security Deposits$2,455
Residual Receipts Return$2,139
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No

Governance Explanations

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

“The board of directors will receive and review the 990 prior to submission to the irs.”

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

“The by-laws of the organization state the following: section 1: board of directors, no duality of interest or conflict of interest on the part of any member of the board of directors shall be allowed. Section 2: others, the officers, administrative staff members, employees, volunteers, and staff members with administrative responsibilities shall exercise the utmost good faith in all transactions in which they are involved in the course of their duties for the corporation. In their dealings with and on behalf of the corporation they shall be held to a strict standard of honest and fair dealings between themselves and the corporation. They shall not use their position or any knowledge gained therefrom in such a way that a conflict may arise between the interest of the corporation and that of the individual. All acts of such persons shall be for the best interest of the corporation. Such persons shall not accept any gift, favor, or hospitality that will influence their decisions or actions which affect the corporation. Any duality of interest or possible conflict of interest on the part of officers, administrative staff members, employees and staff members with administrative responsibilities shall be disclosed and made a matter of record through annual reporting procedures or when the interest is involved in matters for action by such persons.”

Form 990, Page 6, Part VI, Line 19

“Documents are available for review upon request.”

Filing and Contact Details

Filer

Filer Name
Johnstone Apartments Inc
EIN
38-3111325
Phone
8103854463
Address
3051 COMMERCE DRIVE RM/STE 5, FORT GRATIOT, MI 48059

Signing Officer

Name
Frank Bacon
Title
President
Phone
8103854463
Signed
2016-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Bacon
Formed
1993
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0

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
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RESIDUAL RECEIPTS RETURN
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS WILL RECEIVE AND REVIEW THE 990 PRIOR TO SUBMISSION TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BY-LAWS OF THE ORGANIZATION STATE THE FOLLOWING: SECTION 1: BOARD OF DIRECTORS, NO DUALITY OF INTEREST OR CONFLICT OF INTEREST ON THE PART OF ANY MEMBER OF THE BOARD OF DIRECTORS SHALL BE ALLOWED. SECTION 2: OTHERS, THE OFFICERS, ADMINISTRATIVE STAFF MEMBERS, EMPLOYEES, VOLUNTEERS, AND STAFF MEMBERS WITH ADMINISTRATIVE RESPONSIBILITIES SHALL EXERCISE THE UTMOST GOOD FAITH IN ALL TRANSACTIONS IN WHICH THEY ARE INVOLVED IN THE COURSE OF THEIR DUTIES FOR THE CORPORATION. IN THEIR DEALINGS WITH AND ON BEHALF OF THE CORPORATION THEY SHALL BE HELD TO A STRICT STANDARD OF HONEST AND FAIR DEALINGS BETWEEN THEMSELVES AND THE CORPORATION. THEY SHALL NOT USE THEIR POSITION OR ANY KNOWLEDGE GAINED THEREFROM IN SUCH A WAY THAT A CONFLICT MAY ARISE BETWEEN THE INTEREST OF THE CORPORATION AND THAT OF THE INDIVIDUAL. ALL ACTS OF SUCH PERSONS SHALL BE FOR THE BEST INTEREST OF THE CORPORATION. SUCH PERSONS SHALL NOT ACCEPT ANY GIFT, FAVOR, OR HOSPITALITY THAT WILL INFLUENCE THEIR DECISIONS OR ACTIONS WHICH AFFECT THE CORPORATION. ANY DUALITY OF INTEREST OR POSSIBLE CONFLICT OF INTEREST ON THE PART OF OFFICERS, ADMINISTRATIVE STAFF MEMBERS, EMPLOYEES AND STAFF MEMBERS WITH ADMINISTRATIVE RESPONSIBILITIES SHALL BE DISCLOSED AND MADE A MATTER OF RECORD THROUGH ANNUAL REPORTING PROCEDURES OR WHEN THE INTEREST IS INVOLVED IN MATTERS FOR ACTION BY SUCH PERSONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt125993
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$373,397
Liabilities
$19,188
Net assets
$354,209
Revenue
$96,751
Expenses
$449,906
Net income
-$353,155
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.10$0.34$2.76$1.28$1.15$0.13
2024Detailed filing. Detailed filing data is available for this year.$2.97$0.33$2.63$1.24$1.29$0.05
2023Detailed filing. Detailed filing data is available for this year.$3.01$0.33$2.68$1.32$1.29$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.80$0.15$2.65$1.31$1.20$0.12
2021Detailed filing. Detailed filing data is available for this year.$2.68$0.14$2.54$0.96$1.10$0.14
2020Detailed filing. Detailed filing data is available for this year.$2.83$0.16$2.68$0.93$1.03$0.10
2019Detailed filing. Detailed filing data is available for this year.$3.03$0.26$2.78$0.93$1.03$0.10
2018Detailed filing. Detailed filing data is available for this year.$3.28$0.41$2.87$0.87$1.07$0.20
2017Detailed filing. Detailed filing data is available for this year.$3.41$0.34$3.07$0.90$1.07$0.17
2016Detailed filing. Detailed filing data is available for this year.$3.56$0.32$3.24$0.88$1.18$0.30
2015Detailed filing. Detailed filing data is available for this year.$3.73$0.19$3.54$0.97$4.50$3.53
2014Detailed filing. Detailed filing data is available for this year.$7.29$0.13$7.15$0.90$1.08$0.18
2013Detailed filing. Detailed filing data is available for this year.$7.31$0.07$7.24$0.92$1.01$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.58$0.07$7.52$1.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.80$0.15$7.65$1.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.78$0.16$7.62$1.06