Civic Intelligence

Summit Apartments Inc

990 • Fiscal year 2016 • EIN 39-1225718

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 20, 2017

Organization ProfileN/A
106 Arneson RoadBarneveld, WI 53507

(608) 924-1016

Siviq Scores

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

Liabilities / Assets

98th percentile

1.71x

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

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

3.78x

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

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Net Margin

28th percentile

-6.5%

Higher net margin than 28% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Top Officer Pay

85th percentile

$0

Higher top officer pay than 85% of similar nonprofits.

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

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Asset Growth

43rd percentile

-1.0%

Faster asset growth than 43% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

41st percentile

-3.7%

Faster revenue growth than 41% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$482,351

Down $4,797 (-1.0%) from 2015

Net Assets

Down

-$341,926

Down $14,246 (-4.3%) from 2015

Liabilities

Up

$824,277

Up $9,449 (+1.2%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin28th percentile

Revenue

Down

$218,351

Down $8,372 (-3.7%) from 2015

Expenses

Down

$232,597

Down $14,127 (-5.7%) from 2015

Net Income

Up

-$14,246

Up $5,755 (+29%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$1.0M$500K$0-$500KAssets 2010: $572,757Liabilities 2010: $758,241Net Assets 2010: -$185,4842010Assets 2011: $546,831Liabilities 2011: $772,096Net Assets 2011: -$225,2652011Assets 2012: $529,108Liabilities 2012: $784,561Net Assets 2012: -$255,4532012Assets 2013: $507,123Liabilities 2013: $796,229Net Assets 2013: -$289,1062013Assets 2014: $517,816Liabilities 2014: $825,495Net Assets 2014: -$307,6792014Assets 2015: $487,148Liabilities 2015: $814,828Net Assets 2015: -$327,6802015Assets 2016: $482,351Liabilities 2016: $824,277Net Assets 2016: -$341,9262016Assets 2017: $478,071Liabilities 2017: $831,707Net Assets 2017: -$353,6362017Assets 2018: $451,152Liabilities 2018: $850,508Net Assets 2018: -$399,3562018Assets 2019: $446,473Liabilities 2019: $850,433Net Assets 2019: -$403,9602019Assets 2020: $478,135Liabilities 2020: $857,407Net Assets 2020: -$379,2722020Assets 2021: $481,560Liabilities 2021: $851,494Net Assets 2021: -$369,9342021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2016

Assets$482,351
Liabilities$824,277
Net Assets-$341,926
Open 2016 Filing

Operations Trend

Revenue Growth41st percentile

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

$400K$200K$0-$200K-$400KExpenses 2010: $179,4872010Revenue 2011: $139,489Expenses 2011: $179,270Net Income 2011: -$39,7812011Expenses 2012: $185,6642012Revenue 2013: $185,809Expenses 2013: $219,462Net Income 2013: -$33,6532013Revenue 2014: $198,801Expenses 2014: $217,374Net Income 2014: -$18,5732014Revenue 2015: $226,723Expenses 2015: $246,724Net Income 2015: -$20,0012015Revenue 2016: $218,351Expenses 2016: $232,597Net Income 2016: -$14,2462016Revenue 2017: $220,314Expenses 2017: $232,024Net Income 2017: -$11,7102017Revenue 2018: $223,519Expenses 2018: $269,239Net Income 2018: -$45,7202018Revenue 2019: $239,593Expenses 2019: $244,197Net Income 2019: -$4,6042019Revenue 2020: $253,415Expenses 2020: $228,727Net Income 2020: $24,6882020Revenue 2021: $250,389Expenses 2021: $241,051Net Income 2021: $9,3382021Revenue 2022: -$187,948Expenses 2022: $119,256Net Income 2022: -$307,2042022

Highlighted filing

2016

Revenue$218,351
Expenses$232,597
Net Income-$14,246
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 20, 2017
Return Version
2016v3.0
Gross Receipts
$218,351
Mission and Program Overview

Mission

To provide safe, affordable housing to low and moderate income senior citizens, and handicapped and disabled individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$383,043$373,064▼ $9,979
Savings and Temporary Cash Investments$92,337$96,142▲ $3,805
Prepaid Expenses and Deferred Charges$11,656$11,911▲ $255
Accounts Receivable$112$1,234▲ $1,122
Total Assets$487,148$482,351▼ $4,797
Liabilities
Mortgage Notes Payable Secured by Investment Property$697,560$694,925▼ $2,635
Other Liabilities$114,436$126,445▲ $12,009
Accounts Payable and Accrued Expenses$2,832$2,907▲ $75
Total Liabilities$814,828$824,277▲ $9,449
Net Assets / Fund Balance
Unrestricted Net Assets$-327,680$-341,926▼ $14,246
Total Net Assets Fund Balance$-327,680$-341,926▼ $14,246
Total Liabilities and Net Assets / Fund Balance$487,148$482,351▼ $4,797

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$296,681$924,696$1,221,377
Equipment$45,941$146,854$192,795
Land$30,442-$30,442
Compensation and Service Providers
Top Officer Pay85th percentile

Board Members and Trustees

NameTitle
Peggy JonesPresident
Arlene TheobaldDirector
Mary Ann BrindleyDirector
Rowena KirschbaumDirector
Mary Ann MyersSecretary
Tom TomawTreasurer
Robert SchallerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$218,253
Investment Income
$98
Other Revenue
$0
Change in Net Assets
$-14,246

Audited Revenue Reconciliation

Revenue per Audited Statements
$218,351
Total Revenue per Audited Statements
$218,351
Total Revenue per Form 990
$218,351
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$232,597
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$139,979--$139,979
Depreciation Depletion$39,775--$39,775
Fees for Services Management-$32,447-$32,447
Fees for Services Accounting-$8,000-$8,000
Advertising$4,340--$4,340
Insurance-$3,444-$3,444
Office Expenses$2,310--$2,310
Other Expenses$373$650-$373
Fees for Services Legal-$308-$308
Total Functional Expenses$186,777$45,820$0$232,597

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$232,597
Total Expenses per Audited Statements$232,597
Total Expenses per Form 990$232,597
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Interest Expense$114,946
Security Deposits Payable$10,385
Prepaid Rents/ Condo Dues$1,114
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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

“Wisconsin management company responsibilities include: 1)in case of any construction, direct liaison with contractor and general contractor; 2)market rental units, observe all requirements of the affirmative fair housing marketing plan and maintain all records related to rental compliance; 3)offer for rent, all units and maintain all records; 4)furnish all reports to any oversight agencies including rural development; 5)maintain accounting records of the organization; 6)enforce all leases; 7)maintain and repair the project; 8) make arrangements for all utilities; 8)keep project in compliance with all insurance requirements; 9)provide for the payment of all taxes, assesssments and government fees; 10)employ persons and/or services to perform duties and responsibilities at the project site; 11)maintain and safeguard the projects accounts and tenant security deposits.”

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

“The board of directors relies on the tax preparer for accruate reporting.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Summit Apartments Inc
EIN
39-1225718
Phone
6089241016
Address
106 ARNESON ROAD, BARNEVELD, WI 53507

Signing Officer

Name
Peggy Jones
Title
President
Phone
6089241016
Signed
2017-04-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peggy Jones
Formed
1975
Legal Domicile
Wi
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Johnson Block & Co Inc
Address
2500 BUSINESS PARK ROAD, MINERAL POINT, WI 53565
Preparer
Joseph G Mohlmann
Phone
6089872206
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Summit apartments, inc. Is exempt from federal and state income taxes under section 501(c)(4) of the internal revenue code and chapter 181 of the wisconsin statutes. Only unrelated business income, as defined by section 512(a)(1) of the code, is subject to federal income taxes. The organization has adopted accounting guidance for recognizing and measuring uncertain tax positions. The organization follows statutory requirements for income tax accounting and generally avoids risks associated with potentially problematic tax positions that may be challenged upon examination. Management believes any liability resulting from taxing authorities imposing income taxes from activities deemed to be unrelated to the organization's tax-exempt status would not be material to the financial statements. The organization's federal exempt organization returns are subject to examination by the internal revenue service, generally for three years after they are filed. With few exceptions, the organization is no longer subject to such examinations for tax years before 2013.”

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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREPAID RENTS/ CONDO DUES
IRS990ScheduleD/RevenueSubtotalAmt0218351
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SUMMIT APARTMENTS, INC. IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE AND CHAPTER 181 OF THE WISCONSIN STATUTES. ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAXES. THE ORGANIZATION HAS ADOPTED ACCOUNTING GUIDANCE FOR RECOGNIZING AND MEASURING UNCERTAIN TAX POSITIONS. THE ORGANIZATION FOLLOWS STATUTORY REQUIREMENTS FOR INCOME TAX ACCOUNTING AND GENERALLY AVOIDS RISKS ASSOCIATED WITH POTENTIALLY PROBLEMATIC TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. MANAGEMENT BELIEVES ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE ORGANIZATION'S TAX-EXEMPT STATUS WOULD NOT BE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FEDERAL EXEMPT ORGANIZATION RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. WITH FEW EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO SUCH EXAMINATIONS FOR TAX YEARS BEFORE 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0373064
IRS990ScheduleD/TotalExpensesPerForm990Amt0232597
IRS990ScheduleD/TotalLiabilityAmt0126445
IRS990ScheduleD/TotalRevenuePerForm990Amt0218351
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0218351
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0232597
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WISCONSIN MANAGEMENT COMPANY RESPONSIBILITIES INCLUDE: 1)IN CASE OF ANY CONSTRUCTION, DIRECT LIAISON WITH CONTRACTOR AND GENERAL CONTRACTOR; 2)MARKET RENTAL UNITS, OBSERVE ALL REQUIREMENTS OF THE AFFIRMATIVE FAIR HOUSING MARKETING PLAN AND MAINTAIN ALL RECORDS RELATED TO RENTAL COMPLIANCE; 3)OFFER FOR RENT, ALL UNITS AND MAINTAIN ALL RECORDS; 4)FURNISH ALL REPORTS TO ANY OVERSIGHT AGENCIES INCLUDING RURAL DEVELOPMENT; 5)MAINTAIN ACCOUNTING RECORDS OF THE ORGANIZATION; 6)ENFORCE ALL LEASES; 7)MAINTAIN AND REPAIR THE PROJECT; 8) MAKE ARRANGEMENTS FOR ALL UTILITIES; 8)KEEP PROJECT IN COMPLIANCE WITH ALL INSURANCE REQUIREMENTS; 9)PROVIDE FOR THE PAYMENT OF ALL TAXES, ASSESSSMENTS AND GOVERNMENT FEES; 10)EMPLOY PERSONS AND/OR SERVICES TO PERFORM DUTIES AND RESPONSIBILITIES AT THE PROJECT SITE; 11)MAINTAIN AND SAFEGUARD THE PROJECTS ACCOUNTS AND TENANT SECURITY DEPOSITS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS RELIES ON THE TAX PREPARER FOR ACCRUATE REPORTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
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 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0487148
IRS990/TotalAssetsEOYAmt0482351
IRS990/TotalAssetsGrp/BOYAmt0487148
IRS990/TotalAssetsGrp/EOYAmt0482351
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt045820
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0186777
IRS990/TotalFunctionalExpensesGrp/TotalAmt0232597
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0814828
IRS990/TotalLiabilitiesEOYAmt0824277
IRS990/TotalLiabilitiesGrp/BOYAmt0814828
IRS990/TotalLiabilitiesGrp/EOYAmt0824277
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-327680
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-341926
IRS990/TotalProgramServiceExpensesAmt0186777
IRS990/TotalProgramServiceRevenueAmt0218253
IRS990/TotalRevenueGrp/ExclusionAmt098
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0218253
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0218351
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0487148
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0482351
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-327680
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-341926
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0106 ARNESON ROAD
IRS990/USAddress/CityNm0BARNEVELD
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053507
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PEGGY JONES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06089241016
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUMMIT APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0SUMM
ReturnHeader/Filer/EIN0391225718
ReturnHeader/Filer/PhoneNum06089241016
ReturnHeader/Filer/USAddress/AddressLine1Txt0106 ARNESON ROAD
ReturnHeader/Filer/USAddress/CityNm0BARNEVELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053507
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B1F90E659F18CBBADD1C2B2D73B1935981D55D3A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId080BF88E67B00F14FC419D78EDD16E375EFDD2308
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391628949
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JOHNSON BLOCK & CO INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02500 BUSINESS PARK ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINERAL POINT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd053565
ReturnHeader/PreparerPersonGrp/PhoneNum06089872206
ReturnHeader/PreparerPersonGrp/PreparationDt02017-06-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH G MOHLMANN
ReturnHeader/ReturnTs02017-07-25T13:56:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$482,351
Liabilities
$824,277
Net assets
-$341,926
Revenue
$218,351
Expenses
$232,597
Net income
-$14,246
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$1.88$1.19$3.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.82$8.51$3.70$2.50$2.41$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.78$8.57$3.79$2.53$2.29$0.25
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.46$8.50$4.04$2.40$2.44$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.51$8.51$3.99$2.24$2.69$0.46
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.78$8.32$3.54$2.20$2.32$0.12
2016Detailed filing. Detailed filing data is available for this year.$4.82$8.24$3.42$2.18$2.33$0.14
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.87$8.15$3.28$2.27$2.47$0.20
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.18$8.25$3.08$1.99$2.17$0.19
2013Detailed filing. Detailed filing data is available for this year.$5.07$7.96$2.89$1.86$2.19$0.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.29$7.85$2.55$1.86
2011Summary only. Only limited summary data is available for this year.$5.47$7.72$2.25$1.39$1.79$0.40
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.73$7.58$1.85$1.79
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)4 • <$500k nonprofits