Civic Intelligence

Mccann Village Corp

EIN 42-1126661 • 501(c)3 • Newton, IA

Profile

Rental of 80 apartments assisted under section 8 of the united states housing act of 1937 pursuant to a housing assistance payments contract between mccann village and hud.

1105 E 12th St SNewton, IA 50208

n/A

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2019

Liabilities / Revenue

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

96th percentile

200%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $1,227,782 (-100%) from 2018

Liabilities

Down

$0

Down $868,895 (-100%) from 2018

Net Assets

Down

$0

Down $358,887 (-100%) from 2018

Operations
Liabilities / Revenue19th percentileNet Margin98th percentile

Revenue

Up

$1,722,629

Up $1,148,491 (+200%) from 2018

Expenses

Down

$104,381

Down $394,766 (-79%) from 2018

Net Income

Up

$1,618,248

Up $1,543,257 (+2058%) from 2018

Trend Graphs

Balance Sheet Trend

Asset Growth2nd percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,610,187Liabilities 2010: $1,595,795Net Assets 2010: $14,3922010Assets 2011: $1,621,379Liabilities 2011: $1,522,898Net Assets 2011: $98,4812011Assets 2012: $1,584,341Liabilities 2012: $1,495,643Net Assets 2012: $88,6982012Assets 2013: $1,486,825Liabilities 2013: $1,357,460Net Assets 2013: $129,3652013Assets 2014: $1,422,986Liabilities 2014: $1,290,743Net Assets 2014: $132,2432014Assets 2015: $1,372,033Liabilities 2015: $1,187,292Net Assets 2015: $184,7412015Assets 2016: $1,334,495Liabilities 2016: $1,098,419Net Assets 2016: $236,0762016Assets 2017: $1,284,775Liabilities 2017: $1,000,879Net Assets 2017: $283,8962017Assets 2018: $1,227,782Liabilities 2018: $868,895Net Assets 2018: $358,8872018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2019

Assets$0
Liabilities$0
Net Assets$0
Open 2019 Filing

Operations Trend

Revenue Growth96th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $424,4412010Expenses 2011: $422,5542011Revenue 2012: $500,422Expenses 2012: $510,205Net Income 2012: -$9,7832012Revenue 2013: $501,407Expenses 2013: $460,740Net Income 2013: $40,6672013Revenue 2014: $511,472Expenses 2014: $508,594Net Income 2014: $2,8782014Revenue 2015: $536,913Expenses 2015: $484,415Net Income 2015: $52,4982015Revenue 2016: $553,774Expenses 2016: $502,440Net Income 2016: $51,3342016Revenue 2017: $563,093Expenses 2017: $515,273Net Income 2017: $47,8202017Revenue 2018: $574,138Expenses 2018: $499,147Net Income 2018: $74,9912018Revenue 2019: $1,722,629Expenses 2019: $104,381Net Income 2019: $1,618,2482019

Highlighted filing

2019

Revenue$1,722,629
Expenses$104,381
Net Income$1,618,248
Open 2019 Filing

Filings

Most recent year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$1,722,629
Expenses
$104,381
Net income
$1,618,248
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.72$0.10$1.62
2018Detailed filing. Detailed filing data is available for this year.$1.23$0.87$0.36$0.57$0.50$0.07
2017Detailed filing. Detailed filing data is available for this year.$1.28$1.00$0.28$0.56$0.52$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.33$1.10$0.24$0.55$0.50$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.37$1.19$0.18$0.54$0.48$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.42$1.29$0.13$0.51$0.51$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.49$1.36$0.13$0.50$0.46$0.04
2012Summary only. Only limited summary data is available for this year.$1.58$1.50$0.09$0.50$0.51$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$1.52$0.10$0.42
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.61$1.60$0.01$0.42
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 5, 2020
Return Version
2019v5.0
Gross Receipts
$1,722,629
Mission and Program Overview

Mission

Rental of 80 apartments assisted under section 8 of the united states housing act of 1937 pursuant to a housing assistance payments contract between mccann village and hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$834,018--
Savings and Temporary Cash Investments$349,198--
Intangible Assets$30,371--
Accounts Receivable$9,579--
Cash and Non-Interest-Bearing Accounts$2,596--
Prepaid Expenses and Deferred Charges$2,020--
Total Assets$1,227,782$0▼ $1,227,782
Liabilities
Mortgage Notes Payable Secured by Investment Property$829,601--
Other Liabilities$23,407--
Accounts Payable and Accrued Expenses$15,887--
Total Liabilities$868,895$0▼ $868,895
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$358,887--
Total Net Assets Fund Balance$358,887$0▼ $358,887
Total Liabilities and Net Assets / Fund Balance$1,227,782$0▼ $1,227,782
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Kathryn ThompsonAdministratoFT$12,491$12,491

Board Members and Trustees

NameTitle
Mark ThayerPresident
Father William ReynoldsDirector
JUDY O'CONNORDirector
Jim SkokanDirector
Maureen DotySecretary
Timothy BloomTreasurer
Susan MetzVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$130,025
Investment Income
$29
Other Revenue
$1,592,575
Change in Net Assets
$1,618,248

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,722,629
Total Revenue per Audited Statements
$1,722,629
Total Revenue per Form 990
$1,722,629
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$84,791
Salaries, Compensation, and Employee Benefits$19,590
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$27,483--$27,483
Occupancy$23,005--$23,005
Insurance$12,878--$12,878
Current Officers, Directors, Trustees, and Key Employees-$12,491-$12,491
Interest$12,302--$12,302
Other Salaries and Wages$4,142$2,957-$7,099
Office Expenses$293$1,818-$2,111
Fees for Services Management-$1,310-$1,310
Other Expenses$938--$938
Fees for Services Legal-$394-$394
Advertising-$64-$64
Total Functional Expenses$85,347$19,034$0$104,381

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$104,381
Total Expenses per Audited Statements$104,381
Total Expenses per Form 990$104,381
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
Lobbying activity
No
Subject to proxy tax
No
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
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 organization entered into an agreement january 1, 1984 with sacred heart church of newton, iowa that appoints sacred heart church as exclusive agent for the management of the property. Such agreement is subject to all pertinent requirements of the organization's regulatory agreement with hud and has been approved by hud.”

Form 990, Page 6, Part VI, Line 8B

“The board holds quarterly meetings and there are no committees that report to the board.”

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

“Officer of the board of directors will review with the cpa-preparer before filing.”

Form 990, Page 6, Part VI, Line 15A

“Review of compensation of other administrators of similar hud projects.”

Form 990, Page 6, Part VI, Line 19

“All are available upon request at the organization's location.”

Filing and Contact Details

Filer

Filer Name
Mccann Village Corp
EIN
42-1126661
Phone
6417923018
Address
1105 E 12TH ST S, NEWTON, IA 50208

Signing Officer

Name
Mark Thayer
Title
President
Phone
6417923018
Signed
2020-10-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Thayer
Formed
1981
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
4
Volunteers
17

Preparer

Firm
Tdt Cpas and Advisors Pc
Address
317 HIGH AVE E, OSKALOOSA, IA 52577-2823
Preparer
Joseph B Ryan CPA
Phone
6416722523
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 3

“The organization has been dissoluted during the year ended december 31, 2019. All net assets have been transferred to monsignor mccann community fund.”

Form 990, Part XI, Line 9

“Disposition of assets -1,977,135 net assets were liquidated and trasnferred to monsignor mccann community fund during the current year. See schedule n.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization was incorporated april 25, 1979 under the laws of iowa as a non-profit organization. Because of its non-profit status, the corporation is exempt from federal and state income taxes under internal revenue code section 501(c)(3). The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Schedule D, Page 4, Part XIII

“The organization has been dissoluted during the year ended december 31, 2019. All net assets have been transferred to monsignor mccann community fund.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WAS INCORPORATED APRIL 25, 1979 UNDER THE LAWS OF IOWA AS A NON-PROFIT ORGANIZATION. BECAUSE OF ITS NON-PROFIT STATUS, THE CORPORATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS BEEN DISSOLUTED DURING THE YEAR ENDED DECEMBER 31, 2019. ALL NET ASSETS HAVE BEEN TRANSFERRED TO MONSIGNOR MCCANN COMMUNITY FUND.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XIII
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0MCCANN VILLAGE INC. SOLD ITS ASSETS AND DONATED THE PROCEEDS TO MONSIGNOR MCCANN COMMUNITY FUND DURING THE CURRENT YEAR.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE N
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS BEEN DISSOLUTED DURING THE YEAR ENDED DECEMBER 31, 2019. ALL NET ASSETS HAVE BEEN TRANSFERRED TO MONSIGNOR MCCANN COMMUNITY FUND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ENTERED INTO AN AGREEMENT JANUARY 1, 1984 WITH SACRED HEART CHURCH OF NEWTON, IOWA THAT APPOINTS SACRED HEART CHURCH AS EXCLUSIVE AGENT FOR THE MANAGEMENT OF THE PROPERTY. SUCH AGREEMENT IS SUBJECT TO ALL PERTINENT REQUIREMENTS OF THE ORGANIZATION'S REGULATORY AGREEMENT WITH HUD AND HAS BEEN APPROVED BY HUD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD HOLDS QUARTERLY MEETINGS AND THERE ARE NO COMMITTEES THAT REPORT TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICER OF THE BOARD OF DIRECTORS WILL REVIEW WITH THE CPA-PREPARER BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEW OF COMPENSATION OF OTHER ADMINISTRATORS OF SIMILAR HUD PROJECTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S LOCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DISPOSITION OF ASSETS -1,977,135 NET ASSETS WERE LIQUIDATED AND TRASNFERRED TO MONSIGNOR MCCANN COMMUNITY FUND DURING THE CURRENT YEAR. SEE SCHEDULE N.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 3
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