Civic Intelligence

Project Independence Inc

990 • Fiscal year 2015 • EIN 42-1162709

Oct 01, 2014 to Sep 30, 2015 • Filed on Jun 03, 2016

Organization ProfileN/A
205 East First StreetMechanicsville, IA 52306

(563) 942-3330

Siviq Scores

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

Liabilities / Assets

94th percentile

1.21x

Higher debt load relative to assets than 94% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

4.40x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

26th percentile

-5.7%

Higher net margin than 26% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

30th percentile

-3.6%

Faster asset growth than 30% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

50th percentile

3.1%

Faster revenue growth than 50% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$655,289

Down $24,759 (-3.6%) from 2014

Net Assets

Down

-$135,233

Down $10,261 (-8.2%) from 2014

Liabilities

Down

$790,522

Down $14,498 (-1.8%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin26th percentile

Revenue

Up

$179,600

Up $5,443 (+3.1%) from 2014

Expenses

Up

$189,861

Up $311 (+0.2%) from 2014

Net Income

Up

-$10,261

Up $5,132 (+33%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$1.0M$500K$0-$500KAssets 2010: $823,840Liabilities 2010: $845,748Net Assets 2010: -$21,9082010Assets 2011: $777,064Liabilities 2011: $837,180Net Assets 2011: -$60,1162011Assets 2012: $764,707Liabilities 2012: $841,809Net Assets 2012: -$77,1022012Assets 2013: $707,445Liabilities 2013: $817,024Net Assets 2013: -$109,5792013Assets 2014: $680,048Liabilities 2014: $805,020Net Assets 2014: -$124,9722014Assets 2015: $655,289Liabilities 2015: $790,522Net Assets 2015: -$135,2332015Assets 2016: $637,386Liabilities 2016: $773,641Net Assets 2016: -$136,2552016Assets 2017: $626,669Liabilities 2017: $763,771Net Assets 2017: -$137,1022017Assets 2018: $602,276Liabilities 2018: $741,257Net Assets 2018: -$138,9812018Assets 2019: $577,796Liabilities 2019: $715,863Net Assets 2019: -$138,0672019Assets 2020: $544,242Liabilities 2020: $693,898Net Assets 2020: -$149,6562020

Highlighted filing

2015

Assets$655,289
Liabilities$790,522
Net Assets-$135,233
Open 2015 Filing

Operations Trend

Revenue Growth50th percentile

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

$200K$100K$0-$100KRevenue 2010: $181,401Expenses 2010: $197,686Net Income 2010: -$16,2852010Expenses 2011: $193,4922011Revenue 2012: $171,147Expenses 2012: $188,133Net Income 2012: -$16,9862012Revenue 2013: $150,524Expenses 2013: $183,001Net Income 2013: -$32,4772013Revenue 2014: $174,157Expenses 2014: $189,550Net Income 2014: -$15,3932014Revenue 2015: $179,600Expenses 2015: $189,861Net Income 2015: -$10,2612015Revenue 2016: $179,635Expenses 2016: $180,657Net Income 2016: -$1,0222016Revenue 2017: $173,498Expenses 2017: $174,345Net Income 2017: -$8472017Revenue 2018: $171,711Expenses 2018: $173,590Net Income 2018: -$1,8792018Revenue 2019: $179,381Expenses 2019: $178,467Net Income 2019: $9142019Revenue 2020: $166,186Expenses 2020: $177,775Net Income 2020: -$11,5892020

Highlighted filing

2015

Revenue$179,600
Expenses$189,861
Net Income-$10,261
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Jun 3, 2016
Return Version
2014v6.0
Gross Receipts
$179,600
Mission and Program Overview

Mission

To construct and operate elderly and handicapped housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$520,812$483,631▼ $37,181
Savings and Temporary Cash Investments$154,805$164,173▲ $9,368
Prepaid Expenses and Deferred Charges$3,956$3,956→ $0
Cash and Non-Interest-Bearing Accounts$475$3,529▲ $3,054
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$680,048$655,289▼ $24,759
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$739,168$721,539▼ $17,629
Accounts Payable and Accrued Expenses$62,457$64,964▲ $2,507
Other Liabilities$3,395$4,019▲ $624
Total Liabilities$805,020$790,522▼ $14,498
Net Assets / Fund Balance
Temporarily Rstr Net Assets$229,342$216,109▼ $13,233
Unrestricted Net Assets$-354,314$-351,342▲ $2,972
Total Net Assets Fund Balance$-124,972$-135,233▼ $10,261
Total Liabilities and Net Assets / Fund Balance$680,048$655,289▼ $24,759

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$417,511$1,039,196$1,456,707
Land$65,438-$65,438
Other Land Buildings$682$19,920$20,602
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Mary HindmanPresident
Dorothy PetersonVice President
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$179,145
Investment Income
$455
Other Revenue
$0
Change in Net Assets
$-10,261

Audited Revenue Reconciliation

Revenue per Audited Statements
$179,600
Total Revenue per Audited Statements
$179,600
Total Revenue per Form 990
$179,600
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$184,665
Salaries, Compensation, and Employee Benefits$5,196
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$67,430--$67,430
Occupancy$47,445--$47,445
Depreciation Depletion$42,857--$42,857
Fees for Services Management-$9,622-$9,622
Fees for Services Accounting-$8,143-$8,143
Insurance$7,148--$7,148
Other Salaries and Wages$4,800--$4,800
Fees for Services Legal-$749-$749
Other Expenses-$691-$691
Office Expenses-$580-$580
Payroll Taxes$396--$396
Total Functional Expenses$170,076$19,785$0$189,861

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$189,861
Total Expenses per Audited Statements$189,861
Total Expenses per Form 990$189,861
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$4,019
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“The Project entered into an agreement with Right Way Management Services, LLC to manage the property effective October 1, 2007. Such agreement is subject to all pertinent requirements of the Project's regulatory agreement with HUD and has been approved by HUD. The agreement provides that Right Way Management Services, LLC will be compensated by monthly fees in an amount equal to 5.37 percent of total operating income received during the month. The agreement with Right Way Management Services, LLC automatically renews unless notification is made of an intention to terminate the agreement.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The management agent will be reviewing the return prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The management agent enforces the organizations conflict of interest policy.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Project Independence
EIN
42-1162709
Phone
5639423330
Address
205 EAST FIRST STREET, MECHANICSVILLE, IA 52306

Signing Officer

Name
Mary Hindman
Title
President
Signed
2016-06-03
Discuss with paid preparer
Yes

Organization Details

Formed
1985
Legal Domicile
Ia
Voting Board Members
2
Independent Board Members
2
Employees
1

Preparer

Firm
TD&T CPAs and Advisors PC
Address
323 Jefferson Street, Burlington, IA 52601-5256
Preparer
Amanda Lane
Phone
3197539877
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization is incorporated under the laws of Iowa as a non-profit organization. Because of its non-profit status, the Organization is exempt from income taxes under IRC Section 501(c)(3). The Organization is not classified as a private foundation. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Organization believes it is no longer subject to income tax examinations for years ended prior to September 30, 2012.”

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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt054591
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IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt080700
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IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus4YearsAmt054591
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt0330351
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0166345
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0149591
IRS990ScheduleA/Total509Grp/TotalAmt0805351
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0179600
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0174157
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0150524
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0171147
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0830712
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0417511
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01039196
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01456707
IRS990ScheduleD/ExpensesSubtotalAmt0189861
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0682
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt019920
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt020602
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04019
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0179600
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is incorporated under the laws of Iowa as a non-profit organization. Because of its non-profit status, the Organization is exempt from income taxes under IRC Section 501(c)(3). The Organization is not classified as a private foundation. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Organization believes it is no longer subject to income tax examinations for years ended prior to September 30, 2012.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalExpensesPerForm990Amt0189861
IRS990ScheduleD/TotalLiabilityAmt04019
IRS990ScheduleD/TotalRevenuePerForm990Amt0179600
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Project entered into an agreement with Right Way Management Services, LLC to manage the property effective October 1, 2007. Such agreement is subject to all pertinent requirements of the Project's regulatory agreement with HUD and has been approved by HUD. The agreement provides that Right Way Management Services, LLC will be compensated by monthly fees in an amount equal to 5.37 percent of total operating income received during the month. The agreement with Right Way Management Services, LLC automatically renews unless notification is made of an intention to terminate the agreement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MANAGEMENT AGENT WILL BE REVIEWING THE RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MANAGEMENT AGENT ENFORCES THE ORGANIZATIONS CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0170076
IRS990/TotalFunctionalExpensesGrp/TotalAmt0189861
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt0805020
IRS990/TotalLiabilitiesGrp/EOYAmt0790522
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-124972
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IRS990/TotalProgramServiceRevenueAmt0179145
IRS990/TotalRevenueGrp/ExclusionAmt03900
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0655289
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-354314
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-351342
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARY HINDMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-06-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROJECT INDEPENDENCE
ReturnHeader/Filer/BusinessNameControlTxt0PROJ
ReturnHeader/Filer/EIN0421162709
ReturnHeader/Filer/PhoneNum05639423330
ReturnHeader/Filer/USAddress/AddressLine1Txt0205 EAST FIRST STREET

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$655,289
Liabilities
$790,522
Net assets
-$135,233
Revenue
$179,600
Expenses
$189,861
Net income
-$10,261
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$5.44$6.94$1.50$1.66$1.78$0.12
2019Detailed filing. Detailed filing data is available for this year.$5.78$7.16$1.38$1.79$1.78$0.01
2018Detailed filing. Detailed filing data is available for this year.$6.02$7.41$1.39$1.72$1.74$0.02
2017Detailed filing. Detailed filing data is available for this year.$6.27$7.64$1.37$1.73$1.74$0.01
2016Detailed filing. Detailed filing data is available for this year.$6.37$7.74$1.36$1.80$1.81$0.01
2015Detailed filing. Detailed filing data is available for this year.$6.55$7.91$1.35$1.80$1.90$0.10
2014Detailed filing. Detailed filing data is available for this year.$6.80$8.05$1.25$1.74$1.90$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.07$8.17$1.10$1.51$1.83$0.32
2012Summary only. Only limited summary data is available for this year.$7.65$8.42$0.77$1.71$1.88$0.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.77$8.37$0.60$1.93
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.24$8.46$0.22$1.81$1.98$0.16