Civic Intelligence

Kalona Valley Apartments Inc

EIN 42-1089265 • 501(c)4 • Mechanicsville, IA

Profile

Housing for low-income senior citizens.

PO Box 460Mechanicsville, IA 52306

n/A

Siviq Scores

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

Liabilities / Assets

90th percentile

0.64x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

93rd percentile

1.95x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Net Margin

59th percentile

15%

Higher net margin than 59% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

63rd percentile

$0

Higher top officer pay than 63% of similar nonprofits.

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

501(c)4 • $1M-$5M nonprofits • Source year 2025

Asset Growth

39th percentile

1.2%

Faster asset growth than 39% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

49th percentile

7.7%

Faster revenue growth than 49% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$1,037,646

Up $12,109 (+1.2%) from 2024

Liabilities

Down

$661,513

Down $37,112 (-5.3%) from 2024

Net Assets

Up

$376,133

Up $49,221 (+15%) from 2024

Operations
Liabilities / Revenue93rd percentileNet Margin59th percentile

Revenue

Up

$338,924

Up $24,349 (+7.7%) from 2024

Expenses

Down

$289,703

Down $14,140 (-4.7%) from 2024

Net Income

Up

$49,221

Up $38,489 (+359%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth39th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $1,159,034Liabilities 2011: $1,046,056Net Assets 2011: $112,9782011Assets 2012: $1,134,546Liabilities 2012: $1,025,973Net Assets 2012: $108,5732012Assets 2013: $1,238,537Liabilities 2013: $1,059,690Net Assets 2013: $178,8472013Assets 2014: $1,343,280Liabilities 2014: $1,040,539Net Assets 2014: $302,7412014Assets 2015: $1,322,644Liabilities 2015: $1,020,321Net Assets 2015: $302,3232015Assets 2016: $1,294,828Liabilities 2016: $1,003,777Net Assets 2016: $291,0512016Assets 2017: $1,278,410Liabilities 2017: $974,902Net Assets 2017: $303,5082017Assets 2018: $1,243,872Liabilities 2018: $905,174Net Assets 2018: $338,6982018Assets 2019: $1,203,556Liabilities 2019: $875,074Net Assets 2019: $328,4822019Assets 2020: $1,180,801Liabilities 2020: $848,461Net Assets 2020: $332,3402020Assets 2021: $1,146,227Liabilities 2021: $814,575Net Assets 2021: $331,6522021Assets 2022: $1,108,588Liabilities 2022: $779,171Net Assets 2022: $329,4172022Assets 2023: $1,059,026Liabilities 2023: $742,846Net Assets 2023: $316,1802023Assets 2024: $1,025,537Liabilities 2024: $698,625Net Assets 2024: $326,9122024Assets 2025: $1,037,646Liabilities 2025: $661,513Net Assets 2025: $376,1332025

Highlighted filing

2025

Assets$1,037,646
Liabilities$661,513
Net Assets$376,133
Open 2025 Filing

Operations Trend

Revenue Growth49th percentile

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

$400K$300K$200K$100K$0-$100KExpenses 2011: $233,0682011Revenue 2012: $242,003Expenses 2012: $246,408Net Income 2012: -$4,4052012Expenses 2013: $238,0972013Revenue 2014: $370,825Expenses 2014: $246,931Net Income 2014: $123,8942014Revenue 2015: $249,791Expenses 2015: $250,209Net Income 2015: -$4182015Revenue 2016: $248,410Expenses 2016: $259,682Net Income 2016: -$11,2722016Revenue 2017: $258,831Expenses 2017: $246,374Net Income 2017: $12,4572017Revenue 2018: $293,062Expenses 2018: $257,872Net Income 2018: $35,1902018Revenue 2019: $260,490Expenses 2019: $270,706Net Income 2019: -$10,2162019Revenue 2020: $269,280Expenses 2020: $265,422Net Income 2020: $3,8582020Revenue 2021: $272,981Expenses 2021: $273,669Net Income 2021: -$6882021Revenue 2022: $271,921Expenses 2022: $274,156Net Income 2022: -$2,2352022Revenue 2023: $287,008Expenses 2023: $300,245Net Income 2023: -$13,2372023Revenue 2024: $314,575Expenses 2024: $303,843Net Income 2024: $10,7322024Revenue 2025: $338,924Expenses 2025: $289,703Net Income 2025: $49,2212025

Highlighted filing

2025

Revenue$338,924
Expenses$289,703
Net Income$49,221
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,037,646
Liabilities
$661,513
Net assets
$376,133
Revenue
$338,924
Expenses
$289,703
Net income
$49,221
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.66$0.38$0.34$0.29$0.05
2024Summary only. Only limited summary data is available for this year.$1.03$0.70$0.33$0.31$0.30$0.01
2023Summary only. Only limited summary data is available for this year.$1.06$0.74$0.32$0.29$0.30$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.78$0.33$0.27$0.27$0.00
2021Summary only. Only limited summary data is available for this year.$1.15$0.81$0.33$0.27$0.27$0.00
2020Summary only. Only limited summary data is available for this year.$1.18$0.85$0.33$0.27$0.27$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.88$0.33$0.26$0.27$0.01
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.24$0.91$0.34$0.29$0.26$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.28$0.97$0.30$0.26$0.25$0.01
2016Summary only. Only limited summary data is available for this year.$1.29$1.00$0.29$0.25$0.26$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.32$1.02$0.30$0.25$0.25$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.34$1.04$0.30$0.37$0.25$0.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.24$1.06$0.18$0.24
2012Summary only. Only limited summary data is available for this year.$1.13$1.03$0.11$0.24$0.25$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$1.05$0.11$0.23
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Sep 1, 2024 to Aug 31, 2025
Signed
Jan 29, 2026
Return Version
2024v5.0
Gross Receipts
$338,924
Mission and Program Overview

Mission

Housing for low-income senior citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$948,496$918,509▼ $29,987
Savings and Temporary Cash Investments$69,373$103,294▲ $33,921
Cash and Non-Interest-Bearing Accounts$6,482$15,762▲ $9,280
Accounts Receivable$1,186$81▼ $1,105
Total Assets$1,025,537$1,037,646▲ $12,109
Liabilities
Mortgage Notes Payable Secured by Investment Property$686,272$640,679▼ $45,593
Other Liabilities$9,500$10,100▲ $600
Accounts Payable and Accrued Expenses$2,853$9,426▲ $6,573
Deferred Revenue-$1,308-
Total Liabilities$698,625$661,513▼ $37,112
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$326,912$376,133▲ $49,221
Total Net Assets Fund Balance$326,912$376,133▲ $49,221
Total Liabilities and Net Assets / Fund Balance$1,025,537$1,037,646▲ $12,109

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$681,643$1,392,479$2,074,122
Other Land Buildings$67,366$102,187$169,553
Land$169,500-$169,500
Compensation and Service Providers
Top Officer Pay63rd percentile

Board Members and Trustees

NameTitle
Phil RoppPresident
Edwin HershbergerDirector
Junita Troyer Left Fy 2025Director
Lance SlabachDirector
Larry Kern Left Fy 2025Director
Mark SchneiderDirector
Stephanie SchlabaughDirector
Tyler CoblentzDirector
Judy ShowalterSecretary
Eileen YottyTreasurer
Jenelle BenderVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$338,894
Investment Income
$30
Other Revenue
$0
Change in Net Assets
$49,221

Audited Revenue Reconciliation

Revenue per Audited Statements
$338,924
Revenue Not Reported on Form 990
$19,000
Total Revenue per Audited Statements
$357,924
Total Revenue per Form 990
$338,924
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$271,703
Salaries, Compensation, and Employee Benefits$18,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$76,324--$76,324
Depreciation Depletion$64,144--$64,144
Interest$48,758--$48,758
Insurance$37,632--$37,632
Fees for Services Management-$32,886-$32,886
Other Salaries and Wages$16,287--$16,287
Fees for Services Accounting-$10,417-$10,417
Payroll Taxes$1,713--$1,713
Fees for Services Legal-$1,375-$1,375
Advertising-$164-$164
Other Expenses-$3-$3
Total Functional Expenses$244,858$44,845$0$289,703

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$289,703
Total Expenses per Audited Statements$289,703
Total Expenses per Form 990$289,703
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
Secuity Deposits Payable$10,100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Kalona valley apartments, inc. Entered into an agreement with right way management services to handle management responsibilities as of january 1, 2018. Under the terms of this agreement, right way receives a monthly management fee equal to 58 and 58 per occupied unit for the years ended august 31, 2025 and 2024, respectively. Total management fees were 32,886 and 32,132 for the years ended august 31, 2025 and 2024, respectively.”

Form 990, Page 6, Part VI, Line 6

“Organization has stockholders who each paid to become stockholders with no dividend options.”

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

“All board members are stockholders and therefore have the power to appoint members of the governing body.”

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

“Board members are stockholders and therefore able to make governance decisions for the organization.”

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

“The 990 is reviewed and approved by the management agent prior to filling.”

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

“Review is completed every three years as required by usda and enforced by management and governing body.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Kalona Valley Apartments Inc
EIN
42-1089265
Phone
5634326160
Address
PO BOX 460, MECHANICSVILLE, IA 52306

Signing Officer

Name
Phil Ropp
Title
President
Signed
2026-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phil Ropp
Formed
1977
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
2
Volunteers
9

Preparer

Firm
Forge Financial & Management Consulting
Address
1245 JORDAN CREEK PKWY STE 100, WEST DES MOINES, IA 50266-2343
Preparer
Justin a Plate CPA
Phone
5156203050
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“During the year ended august 31, 2025, the organization received in-kind contributions from the city of kalona valued at approximately 19,000. The contributions consisted of various outdoor equipment repairs and ground maintenance services. These in-kind contributions have been recognized as both contribution revenue and a corresponding expense in the accompanying financial statements.”

Form 990, Part XII

“The board of directors assumes resonsibility for oversight of the audit and the selection of an independent accountant since entering into agreement with rightway management services in january 2018.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Income tax status - the organization is exempt from federal income tax under the provisions of section 501(c)(4) of the internal revenue code. The organization is not classified as a private foundation. The organization evaluates all significant tax positions as required by generally accepted accounting principles in the united states of america. The organization is subject to routine audits by taxing jurisdictions, however, there are currently no audits for any tax periods in progress.”

Raw XML Appendix380 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.

Path#Value
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IRS990/BooksInCareOfDetail/USAddress/ZIPCd052306
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IRS990/CYTotalRevenueAmt0338924
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IRS990/DepreciationDepletionGrp/ProgramServicesAmt064144
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IRS990/Desc0THE ORGANIZATION PROVIDED 49 APARTMENTS TO LOW-INCOME SENIOR CITIZENS DURING THE YEAR AND ACHIEVED AND OCCUPANCY RATE OF 96%
IRS990/DescribedInSection501c3Ind0false
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IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
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IRS990/Form990PartVIISectionAGrp/PersonNm1LARRY KERN LEFT FY 2025
IRS990/Form990PartVIISectionAGrp/PersonNm2JENELLE BENDER
IRS990/Form990PartVIISectionAGrp/PersonNm3TYLER COBLENTZ
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IRS990/Form990PartVIISectionAGrp/PersonNm5PHIL ROPP
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10TREASURER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAX STATUS - THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. THE ORGANIZATION EVALUATES ALL SIGNIFICANT TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KALONA VALLEY APARTMENTS, INC. ENTERED INTO AN AGREEMENT WITH RIGHT WAY MANAGEMENT SERVICES TO HANDLE MANAGEMENT RESPONSIBILITIES AS OF JANUARY 1, 2018. UNDER THE TERMS OF THIS AGREEMENT, RIGHT WAY RECEIVES A MONTHLY MANAGEMENT FEE EQUAL TO 58 AND 58 PER OCCUPIED UNIT FOR THE YEARS ENDED AUGUST 31, 2025 AND 2024, RESPECTIVELY. TOTAL MANAGEMENT FEES WERE 32,886 AND 32,132 FOR THE YEARS ENDED AUGUST 31, 2025 AND 2024, RESPECTIVELY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION HAS STOCKHOLDERS WHO EACH PAID TO BECOME STOCKHOLDERS WITH NO DIVIDEND OPTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS ARE STOCKHOLDERS AND THEREFORE HAVE THE POWER TO APPOINT MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS ARE STOCKHOLDERS AND THEREFORE ABLE TO MAKE GOVERNANCE DECISIONS FOR THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 990 IS REVIEWED AND APPROVED BY THE MANAGEMENT AGENT PRIOR TO FILLING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5REVIEW IS COMPLETED EVERY THREE YEARS AS REQUIRED BY USDA AND ENFORCED BY MANAGEMENT AND GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DURING THE YEAR ENDED AUGUST 31, 2025, THE ORGANIZATION RECEIVED IN-KIND CONTRIBUTIONS FROM THE CITY OF KALONA VALUED AT APPROXIMATELY 19,000. THE CONTRIBUTIONS CONSISTED OF VARIOUS OUTDOOR EQUIPMENT REPAIRS AND GROUND MAINTENANCE SERVICES. THESE IN-KIND CONTRIBUTIONS HAVE BEEN RECOGNIZED AS BOTH CONTRIBUTION REVENUE AND A CORRESPONDING EXPENSE IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE BOARD OF DIRECTORS ASSUMES RESONSIBILITY FOR OVERSIGHT OF THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT SINCE ENTERING INTO AGREEMENT WITH RIGHTWAY MANAGEMENT SERVICES IN JANUARY 2018.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XII
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0PHIL ROPP
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FORGE FINANCIAL & MANAGEMENT CONSULTING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01245 JORDAN CREEK PKWY STE 100
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ReturnHeader/ReturnTs02026-01-30T14:13:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-09-01
ReturnHeader/TaxPeriodEndDt02025-08-31
ReturnHeader/TaxYr02024

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