Civic Intelligence

Alverno Apartments Inc.

990 • Fiscal year 2013 • EIN 42-1096027

Jul 01, 2012 to Jun 30, 2013 • Filed on Nov 19, 2013

Organization ProfileWWW.ALVERNOAPTS.COM
3525 Windsor Avenue52001
Siviq Scores

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

Liabilities / Assets

78th percentile

0.52x

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

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2013

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

14th percentile

-8.4%

Faster asset growth than 14% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$2,712,208

Down $247,791 (-8.4%) from 2012

Net Assets

Down

$1,299,008

Down $94,232 (-6.8%) from 2012

Liabilities

Down

$1,413,200

Down $153,559 (-9.8%) from 2012

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$687,386

Down $14,801 (-2.1%) from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,172,294Liabilities 2011: $1,681,476Net Assets 2011: $1,490,8182011Assets 2012: $2,959,999Liabilities 2012: $1,566,759Net Assets 2012: $1,393,2402012Assets 2013: $2,712,208Liabilities 2013: $1,413,200Net Assets 2013: $1,299,0082013Assets 2014: $2,504,550Liabilities 2014: $1,346,510Net Assets 2014: $1,158,0402014Assets 2015: $2,199,969Liabilities 2015: $1,129,667Net Assets 2015: $1,070,3022015Assets 2016: $3,622,259Liabilities 2016: $2,649,438Net Assets 2016: $972,8212016Assets 2017: $3,597,635Liabilities 2017: $2,605,962Net Assets 2017: $991,6732017Assets 2018: $3,404,856Liabilities 2018: $2,551,030Net Assets 2018: $853,8262018Assets 2019: $3,188,290Liabilities 2019: $2,473,207Net Assets 2019: $715,0832019Assets 2020: $3,004,994Liabilities 2020: $2,407,474Net Assets 2020: $597,5202020Assets 2021: $2,906,641Liabilities 2021: $2,363,691Net Assets 2021: $542,9502021Assets 2022: $2,886,457Liabilities 2022: $2,318,934Net Assets 2022: $567,5232022Assets 2023: $2,929,235Liabilities 2023: $2,348,088Net Assets 2023: $581,1472023Assets 2024: $2,874,969Liabilities 2024: $2,164,074Net Assets 2024: $710,8952024

Highlighted filing

2013

Assets$2,712,208
Liabilities$1,413,200
Net Assets$1,299,008
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $595,313Expenses 2011: $691,023Net Income 2011: -$95,7102011Expenses 2012: $702,1872012Expenses 2013: $687,3862013Revenue 2014: $638,469Expenses 2014: $779,437Net Income 2014: -$140,9682014Revenue 2015: $633,988Expenses 2015: $721,726Net Income 2015: -$87,7382015Revenue 2016: $641,178Expenses 2016: $738,659Net Income 2016: -$97,4812016Revenue 2017: $828,383Expenses 2017: $809,531Net Income 2017: $18,8522017Revenue 2018: $674,054Expenses 2018: $811,901Net Income 2018: -$137,8472018Revenue 2019: $680,345Expenses 2019: $819,088Net Income 2019: -$138,7432019Revenue 2020: $695,051Expenses 2020: $812,614Net Income 2020: -$117,5632020Revenue 2021: $705,301Expenses 2021: $759,871Net Income 2021: -$54,5702021Revenue 2022: $812,252Expenses 2022: $787,679Net Income 2022: $24,5732022Revenue 2023: $947,578Expenses 2023: $933,954Net Income 2023: $13,6242023Revenue 2024: $1,018,765Expenses 2024: $887,609Net Income 2024: $131,1562024

Highlighted filing

2013

Revenue-
Expenses$687,386
Net Income-
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
Nov 19, 2013
Return Version
2012v2.1
Gross Receipts
$617,395
Mission and Program Overview

Mission

Alverno apartments meets the needs of low-income elderly or handicapped individuals who are capable of living independently by providing safe and secure housing at an affordable cost.

Filing and Contact Details

Filer

EIN
42-1096027
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IRS990/Description0Alverno Apartments provides housing for the elderly and mobility impaired who qualify for federal housing assistance. Alverno consists of 100 one-bedroom apartments. Rent is based on 30% of annual adjusted household income. Head of household or spouse must be age 62 or older. Persons younger than 62 may be eligible if there is a mobility impairment and meet HUD requirements. Each month at least one community activity is available for residents to attend and there are also other weekly activities. Amenities include: laundry, hair salon, residential elevators, large community room and optional low cost meal program served Monday thru Friday.
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0Tenant deposits held in trust
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation1The Organization is organized as an Iowa nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Internal Revenue Code Section 501(c)(3). The Organization is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Organization is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purpose. The Organization has determined it is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990T) with the IRS. The Organization believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Organization would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.
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IRS990ScheduleL/Form990ScheduleLPartIV/NameOfInterestedPerson/NameBusiness/BusinessNameLine10Allegiant Property Management LLC
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IRS990ScheduleO/GeneralExplanation/Explanation0David Heyer, Administrator, is employed as CEO of Allegiant Property Management, LLC, an organization that provides management, HUD compliance and maintenance services to Alverno Apartments. David supervises the operations of Alverno Apartments. All on site staff, including the on-site manager, night supervisor and maintenance personnel are employees of Allegiant. Alverno Apartments paid Allegiant Property Management $171,663 for management and other services in fiscal year 2013. Of that amount, $32,914 was for management fees. The amount did not go directly to David Heyer but to Allegiant Property Management for his services. David is compensated directly through Allegiant Property Management.
IRS990ScheduleO/GeneralExplanation/Explanation1The President of the Congregation of Sisters of St. Francis of Dubuque has authority to designate members of the Board.
IRS990ScheduleO/GeneralExplanation/Explanation2The Organization does not have committees with authority to act on behalf of the governing body.
IRS990ScheduleO/GeneralExplanation/Explanation3The Form 990 is made available to the Board members before filing. The Administrator reviews the 990.
IRS990ScheduleO/GeneralExplanation/Explanation4Board members and officers are required to sign a conflict of interest policy annually. The Administrator reviews the completed forms for any potential conflicts. Conflicts are discussed with the board. If a board member or officer has a conflict, that individual is required to present the situation to the board and may not be allowed to vote on the matter.
IRS990ScheduleO/GeneralExplanation/Explanation5The Administrator is compensated through Mercy Services Corporation, an exempt unrelated management company. The Administrator does not receive payment for services provided to Alverno Apartments as Administrator. The Administrator is a member of a religious order and compensation is contributed by Mercy Services Corporation to the religious order for services. The process for determining compensation for the Administrator is based on an annual evaluation completed each January. The evaluation is sent to Mercy Services Corporation, the management company, who determines the salary adjustment based on performance, current fiscal year budget, and comparability data. The budget is determined by Alverno's Administrator and a Mercy Services Corporation contact. The compensation process and decision is documented and was last completed in 2012. The organization does not have any other officers or key employees.
IRS990ScheduleO/GeneralExplanation/Explanation6The Organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.
IRS990ScheduleO/GeneralExplanation/Explanation7Repairs and maintenance: Program service expenses 16,635. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,635. Contracted services: Program service expenses 82,472. Management and general expenses 3,375. Fundraising expenses 0. Total expenses 85,847. On-site manager: Program service expenses 0. Management and general expenses 53,752. Fundraising expenses 0. Total expenses 53,752.
IRS990ScheduleO/GeneralExplanation/Explanation8The Organization does not have a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The Board of Directors assumes this responsibility.
IRS990ScheduleO/GeneralExplanation/Identifier0Other Fees
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Section B, line 11
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/GeneralExplanation/ReturnReference6Form 990, Part VI, Section C, line 19
IRS990ScheduleO/GeneralExplanation/ReturnReference7Form 990, Part IX, line 11g
IRS990ScheduleO/GeneralExplanation/ReturnReference8Form 990, Part XII, Line 2c:
IRS990/ScheduleORequired01
IRS990ScheduleR/DividendsRelatedOrganization00
IRS990ScheduleR/ExchangeOfAssets00
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine103390 Windsor Ave
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City0Dubuque
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State0IA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode052001
IRS990ScheduleR/Form990ScheduleRPartII/ControlledOrg00
IRS990ScheduleR/Form990ScheduleRPartII/DirectControllingEntityNA0N/A
IRS990ScheduleR/Form990ScheduleRPartII/EIN0420757421
IRS990ScheduleR/Form990ScheduleRPartII/ExemptCodeSection0501(c)(3)
IRS990ScheduleR/Form990ScheduleRPartII/LegalDomicileState0IA
IRS990ScheduleR/Form990ScheduleRPartII/NameOfDisregardedEntity/BusinessNameLine10Sisters of St Francis of Dubuque
IRS990ScheduleR/Form990ScheduleRPartII/PrimaryActivities0Performance of religious, benevolent, charitable and educational activities
IRS990ScheduleR/Form990ScheduleRPartII/PublicCharityStatus0Line 1
IRS990ScheduleR/GiftGrantOrCapContrFrOtherOrg00
IRS990ScheduleR/GiftGrantOrCapContrToOtherOrg00
IRS990ScheduleR/LoansOrGuaranteesFromOtherOrg00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrg00
IRS990ScheduleR/OtherTransferFromOtherOrg00
IRS990ScheduleR/OtherTransferToOtherOrg00
IRS990ScheduleR/PerformOfServicesByOtherOrgs00
IRS990ScheduleR/PerformOfServicesForOtherOrgs00
IRS990ScheduleR/PurchaseOfAssetsFromOtherOrg00
IRS990ScheduleR/ReceiptOfIntAnnRentsRoyalties00
IRS990ScheduleR/ReimbursementPaidByOtherOrg00
IRS990ScheduleR/ReimbursementPaidToOtherOrg00
IRS990ScheduleR/RentalOfFacilitiesFrOtherOrgs00
IRS990ScheduleR/RentalOfFacilitiesToOtherOrgs00
IRS990ScheduleR/SaleOfAssetsToOtherOrg00
IRS990ScheduleR/SharingOfFacilities00
IRS990ScheduleR/SharingOfPaidEmployees00
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0IA
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine103525 Windsor Avenue
IRS990/TheBooksAreInCareOf/AddressUS/City0Dubuque
IRS990/TheBooksAreInCareOf/AddressUS/State0IA
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode052001
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10Alverno Apartments
IRS990/TheBooksAreInCareOf/TelephoneNumber05635822364
IRS990/TotalAssets/BOY02959999
IRS990/TotalAssetsBOY02959999
IRS990/TotalAssets/EOY02712208
IRS990/TotalAssetsEOY02712208
IRS990/TotalCompGT150K00
IRS990/TotalExpensesCurrentYear0687386
IRS990/TotalExpensesPriorYear0702187
IRS990/TotalFunctionalExpenses/Fundraising00
IRS990/TotalFunctionalExpenses/ManagementAndGeneral0135477
IRS990/TotalFunctionalExpenses/ProgramServices0551909
IRS990/TotalFunctionalExpenses/Total0687386

Document Assets

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Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,712,208
Liabilities
$1,413,200
Net assets
$1,299,008
Revenue
-
Expenses
$687,386
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.87$2.16$0.71$1.02$0.89$0.13
2023Detailed filing. Detailed filing data is available for this year.$2.93$2.35$0.58$0.95$0.93$0.01
2022Detailed filing. Detailed filing data is available for this year.$2.89$2.32$0.57$0.81$0.79$0.02
2021Detailed filing. Detailed filing data is available for this year.$2.91$2.36$0.54$0.71$0.76$0.05
2020Detailed filing. Detailed filing data is available for this year.$3.00$2.41$0.60$0.70$0.81$0.12
2019Detailed filing. Detailed filing data is available for this year.$3.19$2.47$0.72$0.68$0.82$0.14
2018Detailed filing. Detailed filing data is available for this year.$3.40$2.55$0.85$0.67$0.81$0.14
2017Detailed filing. Detailed filing data is available for this year.$3.60$2.61$0.99$0.83$0.81$0.02
2016Detailed filing. Detailed filing data is available for this year.$3.62$2.65$0.97$0.64$0.74$0.10
2015Detailed filing. Detailed filing data is available for this year.$2.20$1.13$1.07$0.63$0.72$0.09
2014Detailed filing. Detailed filing data is available for this year.$2.50$1.35$1.16$0.64$0.78$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.71$1.41$1.30$0.69
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.96$1.57$1.39$0.70
2011Summary only. Only limited summary data is available for this year.$3.17$1.68$1.49$0.60$0.69$0.10