Civic Intelligence

Keystone Terrace Inc

990 • Fiscal year 2021 • EIN 42-1051222

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 27, 2022

Organization Profile
PO Box 157Strawberry Point, IA 52076

(563) 933-4973

Siviq Scores

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

Liabilities / Assets

66th percentile

0.12x

Higher debt load relative to assets than 66% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.46x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Net Margin

63rd percentile

21%

Higher net margin than 63% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Asset Growth

46th percentile

3.6%

Faster asset growth than 46% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

29th percentile

-5.0%

Faster revenue growth than 29% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$583,724

Up $20,206 (+3.6%) from 2020

Net Assets

Up

$514,991

Up $32,019 (+6.6%) from 2020

Liabilities

Down

$68,733

Down $11,813 (-15%) from 2020

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin63rd percentile

Revenue

Down

$150,881

Down $7,875 (-5.0%) from 2020

Expenses

Up

$118,861

Up $2,657 (+2.3%) from 2020

Net Income

Down

$32,020

Down $10,532 (-25%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$800K$600K$400K$200K$0Assets 2011: $485,177Liabilities 2011: $346,1122011Assets 2012: $510,218Liabilities 2012: $323,4282012Assets 2013: $522,336Liabilities 2013: $302,084Net Assets 2013: $220,2522013Assets 2014: $526,673Liabilities 2014: $276,423Net Assets 2014: $250,2502014Assets 2015: $546,021Liabilities 2015: $254,420Net Assets 2015: $291,6012015Assets 2016: $513,658Liabilities 2016: $174,804Net Assets 2016: $338,8542016Assets 2017: $507,124Liabilities 2017: $128,423Net Assets 2017: $378,7012017Assets 2018: $522,633Liabilities 2018: $104,153Net Assets 2018: $418,4802018Assets 2019: $532,165Liabilities 2019: $91,745Net Assets 2019: $440,4202019Assets 2020: $563,518Liabilities 2020: $80,546Net Assets 2020: $482,9722020Assets 2021: $583,724Liabilities 2021: $68,733Net Assets 2021: $514,9912021Assets 2022: $608,119Liabilities 2022: $72,725Net Assets 2022: $535,3942022Assets 2023: $692,252Liabilities 2023: $48,476Net Assets 2023: $643,7762023

Highlighted filing

2021

Assets$583,724
Liabilities$68,733
Net Assets$514,991
Open 2021 Filing

Operations Trend

Revenue Growth29th percentile

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

$300K$200K$100K$0Revenue 2011: $153,054Expenses 2011: $113,645Net Income 2011: $39,4092011Revenue 2012: $149,535Expenses 2012: $101,810Net Income 2012: $47,7252012Revenue 2013: $150,433Expenses 2013: $116,972Net Income 2013: $33,4612013Revenue 2014: $147,725Expenses 2014: $117,727Net Income 2014: $29,9982014Revenue 2015: $153,908Expenses 2015: $112,556Net Income 2015: $41,3522015Revenue 2016: $150,706Expenses 2016: $103,453Net Income 2016: $47,2532016Revenue 2017: $146,483Expenses 2017: $106,636Net Income 2017: $39,8472017Revenue 2018: $147,456Expenses 2018: $107,677Net Income 2018: $39,7792018Revenue 2019: $139,565Expenses 2019: $116,905Net Income 2019: $22,6602019Revenue 2020: $158,756Expenses 2020: $116,204Net Income 2020: $42,5522020Revenue 2021: $150,881Expenses 2021: $118,861Net Income 2021: $32,0202021Revenue 2022: $149,647Expenses 2022: $129,244Net Income 2022: $20,4032022Revenue 2023: $253,310Expenses 2023: $144,928Net Income 2023: $108,3822023

Highlighted filing

2021

Revenue$150,881
Expenses$118,861
Net Income$32,020
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 27, 2022
Return Version
2021v4.0
Gross Receipts
$150,881
Mission and Program Overview

Mission

Provide low-income rental housing to those that qualify with usda rural development regulations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$377,893$355,411▼ $22,482
Savings and Temporary Cash Investments$146,122$206,073▲ $59,951
Cash and Non-Interest-Bearing Accounts$36,419$18,880▼ $17,539
Prepaid Expenses and Deferred Charges$3,083$2,812▼ $271
Accounts Receivable-$548-
Total Assets$563,517$583,724▲ $20,207
Liabilities
Unsecured Notes Loans Payable$68,285$57,625▼ $10,660
Other Liabilities$9,422$9,992▲ $570
Accounts Payable and Accrued Expenses$2,839$1,116▼ $1,723
Total Liabilities$80,546$68,733▼ $11,813
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$482,971$514,991▲ $32,020
Total Net Assets Fund Balance$482,971$514,991▲ $32,020
Total Liabilities and Net Assets / Fund Balance$563,517$583,724▲ $20,207

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$333,790$679,938$1,013,728
Land$21,621-$21,621
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
John H NikolaiPresident
Claudia MccalleyMember
Jessie PenselMember
Justin VorwaldMember
Pastor Margaret Yackel-juleenMember
Pastor Susan FriedrichMember
Bruce CollinsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$150,696
Investment Income
$155
Other Revenue
$30
Change in Net Assets
$32,020
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$107,057
Salaries, Compensation, and Employee Benefits$11,804
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$39,907--$39,907
Depreciation Depletion$33,164--$33,164
Fees for Services Management$8,848$8,848-$17,696
Other Salaries and Wages$10,926--$10,926
Insurance-$10,490-$10,490
Fees for Services Accounting-$3,185-$3,185
Payroll Taxes$878--$878
Information Technology$709--$709
Interest$631--$631
Advertising$185--$185
Other Expenses$4--$4
Total Functional Expenses$96,338$22,523$0$118,861
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
Security Deposits$9,466
Payroll Liabilities$509
Accrued Interest$17
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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, Page 6, Part VI, Line 3

“The board of directors delegates duties of the accounting, accepting & approving tenant applications and other responsibilities included in an approved agreement with usda rural development to hertz farm management, its management company.”

Form 990, Page 6, Part VI, Line 7A

“The board of diretors are elected at the march annual meeting of the membership.”

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

“The form 990 will be reviewed by the management company and then a copy is given to the board for review.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, policies, and financial statements are available at the management company's address listed on the form 990.”

Filing and Contact Details

Filer

Filer Name
Keystone Terrace Inc
EIN
42-1051222
Phone
5639334973
Address
PO BOX 157, STRAWBERRY POINT, IA 52076

Signing Officer

Name
John H Nikolai
Title
President
Phone
5639334973
Signed
2022-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John H Nikolai
Formed
1976
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
1

Preparer

Firm
Gosling & Company Pc
Address
217 N FRANKLIN ST, MANCHESTER, IA 52057-1538
Preparer
Ann O Manson
Phone
5639274810
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS DELEGATES DUTIES OF THE ACCOUNTING, ACCEPTING & APPROVING TENANT APPLICATIONS AND OTHER RESPONSIBILITIES INCLUDED IN AN APPROVED AGREEMENT WITH USDA RURAL DEVELOPMENT TO HERTZ FARM MANAGEMENT, ITS MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRETORS ARE ELECTED AT THE MARCH ANNUAL MEETING OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WILL BE REVIEWED BY THE MANAGEMENT COMPANY AND THEN A COPY IS GIVEN TO THE BOARD FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE MANAGEMENT COMPANY'S ADDRESS LISTED ON THE FORM 990.
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IRS990/TotalEmployeeCnt01
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IRS990/TotalProgramServiceRevenueAmt0150696
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0150726
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0150881
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/Filer/PhoneNum05639334973
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ReturnHeader/PreparerPersonGrp/PhoneNum05639274810
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ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOHN
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$583,724
Liabilities
$68,733
Net assets
$514,991
Revenue
$150,881
Expenses
$118,861
Net income
$32,020
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$6.92$0.48$6.44$2.53$1.45$1.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.08$0.73$5.35$1.50$1.29$0.20
2021Detailed filing. Detailed filing data is available for this year.$5.84$0.69$5.15$1.51$1.19$0.32
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.64$0.81$4.83$1.59$1.16$0.43
2019Summary only. Only limited summary data is available for this year.$5.32$0.92$4.40$1.40$1.17$0.23
2018Summary only. Only limited summary data is available for this year.$5.23$1.04$4.18$1.47$1.08$0.40
2017Summary only. Only limited summary data is available for this year.$5.07$1.28$3.79$1.46$1.07$0.40
2016Summary only. Only limited summary data is available for this year.$5.14$1.75$3.39$1.51$1.03$0.47
2015Summary only. Only limited summary data is available for this year.$5.46$2.54$2.92$1.54$1.13$0.41
2014Summary only. Only limited summary data is available for this year.$5.27$2.76$2.50$1.48$1.18$0.30
2013Summary only. Only limited summary data is available for this year.$5.22$3.02$2.20$1.50$1.17$0.33
2012Summary only. Only limited summary data is available for this year.$5.10$3.23$1.50$1.02$0.48
2011Summary only. Only limited summary data is available for this year.$4.85$3.46$1.53$1.14$0.39