Civic Intelligence

Madelia Housing Inc Co Smr Management

EIN 41-1377647 • 501(c)4 • Mankato, MN

Profile

Provide low income housing

201 N Broad Street Suite 109Mankato, MN 56001

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

98th percentile

1.95x

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

501(c)4 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

3.58x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Net Margin

39th percentile

0.8%

Higher net margin than 39% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

501(c)4 • $500k-$1M nonprofits • Source year 2024

Asset Growth

26th percentile

-4.0%

Faster asset growth than 26% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

44th percentile

2.7%

Faster revenue growth than 44% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$642,253

Down $26,762 (-4.0%) from 2023

Liabilities

Down

$1,254,020

Down $29,673 (-2.3%) from 2023

Net Assets

Up

-$611,767

Up $2,911 (+0.5%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin39th percentile

Revenue

Up

$350,638

Up $9,126 (+2.7%) from 2023

Expenses

Up

$347,727

Up $21,610 (+6.6%) from 2023

Net Income

Down

$2,911

Down $12,484 (-81%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth26th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.0M$0-$1.0MAssets 2011: $1,113,325Liabilities 2011: $1,638,800Net Assets 2011: -$525,4752011Assets 2012: $1,071,125Liabilities 2012: $1,620,788Net Assets 2012: -$549,6632012Assets 2013: $999,587Liabilities 2013: $1,603,741Net Assets 2013: -$604,1542013Assets 2014: $966,891Liabilities 2014: $1,606,204Net Assets 2014: -$639,3132014Assets 2015: $908,547Liabilities 2015: $1,566,623Net Assets 2015: -$658,0762015Assets 2016: $903,974Liabilities 2016: $1,546,931Net Assets 2016: -$642,9572016Assets 2017: $862,884Liabilities 2017: $1,511,985Net Assets 2017: -$649,1012017Assets 2019: $780,929Liabilities 2019: $1,449,454Net Assets 2019: -$668,5252019Assets 2020: $739,364Liabilities 2020: $1,415,355Net Assets 2020: -$675,9912020Assets 2023: $669,015Liabilities 2023: $1,283,693Net Assets 2023: -$614,6782023Assets 2024: $642,253Liabilities 2024: $1,254,020Net Assets 2024: -$611,7672024

Highlighted filing

2024

Assets$642,253
Liabilities$1,254,020
Net Assets-$611,767
Open 2024 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200KRevenue 2011: $231,922Expenses 2011: $249,095Net Income 2011: -$17,1732011Revenue 2012: $238,434Expenses 2012: $262,622Net Income 2012: -$24,1882012Revenue 2013: $190,234Expenses 2013: $244,725Net Income 2013: -$54,4912013Revenue 2014: $223,521Expenses 2014: $258,680Net Income 2014: -$35,1592014Revenue 2015: $259,104Expenses 2015: $277,867Net Income 2015: -$18,7632015Revenue 2016: $269,772Expenses 2016: $254,653Net Income 2016: $15,1192016Revenue 2017: $271,359Expenses 2017: $277,515Net Income 2017: -$6,1562017Revenue 2019: $303,513Expenses 2019: $285,346Net Income 2019: $18,1672019Revenue 2020: $317,053Expenses 2020: $324,519Net Income 2020: -$7,4662020Revenue 2023: $341,512Expenses 2023: $326,117Net Income 2023: $15,3952023Revenue 2024: $350,638Expenses 2024: $347,727Net Income 2024: $2,9112024

Highlighted filing

2024

Revenue$350,638
Expenses$347,727
Net Income$2,911
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$642,253
Liabilities
$1,254,020
Net assets
-$611,767
Revenue
$350,638
Expenses
$347,727
Net income
$2,911
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.64$1.25$0.61$0.35$0.35$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.67$1.28$0.61$0.34$0.33$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.74$1.42$0.68$0.32$0.32$0.01
2019Summary only. Only limited summary data is available for this year.$0.78$1.45$0.67$0.30$0.29$0.02
2017Summary only. Only limited summary data is available for this year.$0.86$1.51$0.65$0.27$0.28$0.01
2016Summary only. Only limited summary data is available for this year.$0.90$1.55$0.64$0.27$0.25$0.02
2015Summary only. Only limited summary data is available for this year.$0.91$1.57$0.66$0.26$0.28$0.02
2014Summary only. Only limited summary data is available for this year.$0.97$1.61$0.64$0.22$0.26$0.04
2013Summary only. Only limited summary data is available for this year.$1.00$1.60$0.60$0.19$0.24$0.05
2012Summary only. Only limited summary data is available for this year.$1.07$1.62$0.55$0.24$0.26$0.02
2011Summary only. Only limited summary data is available for this year.$1.11$1.64$0.53$0.23$0.25$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 16, 2025
Return Version
2024v5.1
Gross Receipts
$350,638
Mission and Program Overview

Mission

Provide low income housing

Provide low income housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$404,053$355,646▼ $48,407
Savings and Temporary Cash Investments$150,402$168,317▲ $17,915
Cash and Non-Interest-Bearing Accounts$100,337$96,323▼ $4,014
Prepaid Expenses and Deferred Charges$11,666$15,044▲ $3,378
Accounts Receivable$2,557$6,923▲ $4,366
Total Assets$669,015$642,253▼ $26,762
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,263,774$1,227,378▼ $36,396
Accounts Payable and Accrued Expenses$7,535$15,269▲ $7,734
Other Liabilities$12,028$11,373▼ $655
Deferred Revenue$356$0▼ $356
Total Liabilities$1,283,693$1,254,020▼ $29,673
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-614,678$-611,767▲ $2,911
Total Net Assets Fund Balance$-614,678$-611,767▲ $2,911
Total Liabilities and Net Assets / Fund Balance$669,015$642,253▼ $26,762

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$313,791$1,307,084$1,620,875
Equipment$8,055$175,656$183,711
Land$33,800-$33,800
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Katie WollePresident
Joan K HellingVice President
Ben OdegardBoard Member
David BeckBoard Member
David WalzBoard Member
Ryan VisherBoard Member
Chris FischerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$350,536
Investment Income
$102
Other Revenue
$0
Change in Net Assets
$2,911

Audited Revenue Reconciliation

Revenue per Audited Statements
$350,638
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$350,638
Total Revenue per Form 990
$350,638
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$347,727
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
Depreciation Depletion$48,407--$48,407
Insurance$31,186--$31,186
Interest$28,350--$28,350
Fees for Services Management$28,323--$28,323
Other Expenses$12,676--$12,676
Total Functional Expenses$347,727$0$0$347,727

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$347,727
Total Expenses per Audited Statements$347,727
Total Expenses per Form 990$347,727
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Tenant Security Deposits$11,373
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization has delegated management duties to a third party management company.”

Form 990, Part VI, Section A, Line 8B

“The organization does not have any committees that have authority to act on behalf of the governing board.”

Form 990, Part VI, Section B, Line 11B

“Copies of the return and related project financial statements are provided to the board at the annual board meeting. The preparer is present to explain the reports and answer any questions. One of the board members signs the return so it can be filed.”

Form 990, Part VI, Section C, Line 19

“These documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Madelia Housing Inc Co Smr Management
EIN
41-1377647
Phone
5076428822
Address
201 N BROAD STREET SUITE 109, MANKATO, MN 56001

Signing Officer

Name
Katie Wolle
Title
Current President
Phone
5076428822
Signed
2025-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katie Wolle
Formed
1982
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Mahoney Ulbrich Christiansen & Russ Pa
Address
10 RIVER PARK PLAZA SUITE 800, SAINT PAUL, MN 55107
Preparer
Deanna Somvong
Phone
6512276695
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization is a corporation that is exempt from income taxes under section 501(c)(3) of the internal revenue code and similar state income tax laws. Management believes the organization did not generate any unrelated business income.”

Raw XML Appendix390 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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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01631797
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0102
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt077
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt033
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt026
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt016
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0254
IRS990ScheduleA/InvestmentIncomeCYPct00.00020
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99980
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt01631797
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0350536
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0341435
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0336753
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0286036
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0317037
IRS990ScheduleA/Total509Grp/TotalAmt01631797
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0350638
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0341512
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0336786
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0286062
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0317053
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01632051
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0313791
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01307084
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01620875
IRS990ScheduleD/EquipmentGrp/BookValueAmt08055
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0175656
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0183711
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0347727
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt033800
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt033800
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt011373
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0350638
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A CORPORATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATE INCOME TAX LAWS. MANAGEMENT BELIEVES THE ORGANIZATION DID NOT GENERATE ANY UNRELATED BUSINESS INCOME.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0355646
IRS990ScheduleD/TotalExpensesPerForm990Amt0347727
IRS990ScheduleD/TotalLiabilityAmt011373
IRS990ScheduleD/TotalRevenuePerForm990Amt0350638
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0350638
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0347727
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS DELEGATED MANAGEMENT DUTIES TO A THIRD PARTY MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES OF THE RETURN AND RELATED PROJECT FINANCIAL STATEMENTS ARE PROVIDED TO THE BOARD AT THE ANNUAL BOARD MEETING. THE PREPARER IS PRESENT TO EXPLAIN THE REPORTS AND ANSWER ANY QUESTIONS. ONE OF THE BOARD MEMBERS SIGNS THE RETURN SO IT CAN BE FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0669015
IRS990/TotalAssetsEOYAmt0642253
IRS990/TotalAssetsGrp/BOYAmt0669015
IRS990/TotalAssetsGrp/EOYAmt0642253
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0347727
IRS990/TotalFunctionalExpensesGrp/TotalAmt0347727
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01283693
IRS990/TotalLiabilitiesEOYAmt01254020
IRS990/TotalLiabilitiesGrp/BOYAmt01283693
IRS990/TotalLiabilitiesGrp/EOYAmt01254020
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-614678
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-611767
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0347727
IRS990/TotalProgramServiceRevenueAmt0350536
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0102
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0350536
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0350638
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0669015
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0642253
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0201 N BROAD STREET SUITE 109
IRS990/USAddress/CityNm0MANKATO
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056001
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KATIE WOLLE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CURRENT PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05076428822
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MADELIA HOUSING INC CO SMR MANAGEMENT
ReturnHeader/Filer/BusinessNameControlTxt0MADE
ReturnHeader/Filer/EIN0411377647
ReturnHeader/Filer/PhoneNum05076428822
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 N BROAD STREET SUITE 109
ReturnHeader/Filer/USAddress/CityNm0MANKATO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056001
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411647057
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MAHONEY ULBRICH CHRISTIANSEN & RUSS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010 RIVER PARK PLAZA SUITE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAINT PAUL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055107
ReturnHeader/PreparerPersonGrp/PhoneNum06512276695
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEANNA SOMVONG
ReturnHeader/ReturnTs02025-05-16T15:44:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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