Civic Intelligence

Homestead Residences Inc.

990 • Fiscal year 2016 • EIN 38-3679604

Oct 01, 2015 to Sep 30, 2016 • Filed on Feb 05, 2017

Organization Profile
3879 Packard RoadAnn Arbor, MI 48108

(734) 973-7764

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

64th percentile

7.5%

Higher net margin than 64% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

38th percentile

$24,000

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

94th percentile

71%

Faster asset growth than 94% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

54th percentile

4.1%

Faster revenue growth than 54% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$220,770

Up $91,947 (+71%) from 2015

Net Assets

Up

$220,770

Up $91,947 (+71%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin64th percentile

Revenue

Up

$1,225,117

Up $47,991 (+4.1%) from 2015

Expenses

Up

$1,133,170

Up $98,106 (+9.5%) from 2015

Net Income

Down

$91,947

Down $50,115 (-35%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$800K$600K$400K$200K$0-$200KAssets 2014: $21,470Liabilities 2014: $34,709Net Assets 2014: -$13,2392014Assets 2015: $128,823Liabilities 2015: $0Net Assets 2015: $128,8232015Assets 2016: $220,770Liabilities 2016: $0Net Assets 2016: $220,7702016Assets 2017: $240,376Liabilities 2017: $0Net Assets 2017: $240,3762017Assets 2018: $316,659Liabilities 2018: $78,000Net Assets 2018: $238,6592018Assets 2019: $543,223Liabilities 2019: $202,152Net Assets 2019: $341,0712019Assets 2020: $748,769Liabilities 2020: $420,000Net Assets 2020: $328,7692020Assets 2021: $619,562Liabilities 2021: $430,000Net Assets 2021: $189,5622021Assets 2022: $319,215Liabilities 2022: $103,000Net Assets 2022: $216,2152022Assets 2023: $163,846Liabilities 2023: $0Net Assets 2023: $163,8462023Assets 2024: $340,755Liabilities 2024: $224,233Net Assets 2024: $116,5222024Assets 2025: $294,416Liabilities 2025: $179,268Net Assets 2025: $115,1482025

Highlighted filing

2016

Assets$220,770
Liabilities$0
Net Assets$220,770
Open 2016 Filing

Operations Trend

Revenue Growth54th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $1,088,906Expenses 2014: $1,019,886Net Income 2014: $69,0202014Revenue 2015: $1,177,126Expenses 2015: $1,035,064Net Income 2015: $142,0622015Revenue 2016: $1,225,117Expenses 2016: $1,133,170Net Income 2016: $91,9472016Revenue 2017: $1,170,007Expenses 2017: $1,150,401Net Income 2017: $19,6062017Revenue 2018: $776,582Expenses 2018: $778,299Net Income 2018: -$1,7172018Revenue 2019: $785,859Expenses 2019: $683,447Net Income 2019: $102,4122019Revenue 2020: $664,603Expenses 2020: $676,905Net Income 2020: -$12,3022020Revenue 2021: $769,331Expenses 2021: $908,538Net Income 2021: -$139,2072021Revenue 2022: $1,055,629Expenses 2022: $1,028,976Net Income 2022: $26,6532022Revenue 2023: $742,882Expenses 2023: $898,251Net Income 2023: -$155,3692023Revenue 2024: $1,014,336Expenses 2024: $852,959Net Income 2024: $161,3772024Revenue 2025: $1,032,002Expenses 2025: $1,033,376Net Income 2025: -$1,3742025

Highlighted filing

2016

Revenue$1,225,117
Expenses$1,133,170
Net Income$91,947
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Feb 5, 2017
Return Version
2015v3.0
Gross Receipts
$1,225,117
Mission and Program Overview

Mission

To provide round the clock residential services to adults with mental illness, aged, homeless and developmentally disabled.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$78,438$191,085▲ $112,647
Cash and Non-Interest-Bearing Accounts$50,385$29,685▼ $20,700
Total Assets$128,823$220,770▲ $91,947
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$128,823$220,770▲ $91,947
Total Net Assets Fund Balance$128,823$220,770▲ $91,947
Total Liabilities and Net Assets / Fund Balance$128,823$220,770▲ $91,947
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Hyacinth AkunnePresidentPT$24,000$24,000

Board Members and Trustees

NameTitle
Joseph NwabuezeChairperson
Barbara OkonSecretary
Obioma NwachukwuTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,225,109
Investment Income
$8
Other Revenue
$0
Change in Net Assets
$91,947
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$873,834
Other Expenses$259,336
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$730,459--$730,459
Occupancy$120,225--$120,225
Other Employee Benefits$80,404--$80,404
Fees for Services Management-$64,297-$64,297
Payroll Taxes$62,971--$62,971
All Other Expenses$22,936--$22,936
Insurance$19,783--$19,783
Other Expenses$8,874--$8,874
Fees for Services Accounting-$640-$640
Conferences and Meetings$575--$575
Total Functional Expenses$1,068,233$64,937$0$1,133,170
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“This filing will be presented to the gorverning body at the next meeting”

Governing documents etc available to public Part VI line 19

“On written request the governing document will made available at our office.”

Filing and Contact Details

Filer

Filer Name
Homestead Residence Inc
EIN
38-3679604
Address
3879 PACKARD ROAD, Ann Arbor, MI 48108

Signing Officer

Name
Hyacinth Akunne
Title
President
Phone
7346783094
Signed
2017-02-05
Discuss with paid preparer
No

Organization Details

Principal Officer
Hyacinth Akunne
Formed
2006
Legal Domicile
Mi
Voting Board Members
4
Independent Board Members
4
Employees
52

Preparer

Firm
Shefun Enterprises Inc
Address
P O BOX 851244, Westland, MI 48185
Preparer
Sheyi Olojo
Phone
7344698808
Supplemental Narrative

Additional Explanations

List of other expenses Part IX line 24E

“Please see attached”

Raw XML Appendix309 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1On written request the governing document will made available at our office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Please see attached
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2List of other expenses Part IX line 24e
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd048185
ReturnHeader/PreparerPersonGrp/PhoneNum07344698808
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Sheyi Olojo
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-02-05T16:41:10-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-10-01
ReturnHeader/TaxPeriodEndDt02016-09-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$220,770
Liabilities
$0
Net assets
$220,770
Revenue
$1,225,117
Expenses
$1,133,170
Net income
$91,947
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.29$0.18$0.12$1.03$1.03$0.00
2024Detailed filing. Detailed filing data is available for this year.$0.34$0.22$0.12$1.01$0.85$0.16
2023Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.74$0.90$0.16
2022Detailed filing. Detailed filing data is available for this year.$0.32$0.10$0.22$1.06$1.03$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$0.43$0.19$0.77$0.91$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.75$0.42$0.33$0.66$0.68$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.54$0.20$0.34$0.79$0.68$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.32$0.08$0.24$0.78$0.78$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$1.17$1.15$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$1.23$1.13$0.09
2015Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$1.18$1.04$0.14
2014Summary only. Only limited summary data is available for this year.$0.02$0.03$0.01$1.09$1.02$0.07