Civic Intelligence

Project Independence Inc

990 • Fiscal year 2019 • EIN 42-1162709

Oct 01, 2018 to Sep 30, 2019 • Filed on Nov 20, 2019

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

95th percentile

1.24x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

3.99x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

41st percentile

0.5%

Higher net margin than 41% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

26th percentile

-4.1%

Faster asset growth than 26% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

51st percentile

4.5%

Faster revenue growth than 51% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$577,796

Down $24,480 (-4.1%) from 2018

Net Assets

Up

-$138,067

Up $914 (+0.7%) from 2018

Liabilities

Down

$715,863

Down $25,394 (-3.4%) from 2018

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin41st percentile

Revenue

Up

$179,381

Up $7,670 (+4.5%) from 2018

Expenses

Up

$178,467

Up $4,877 (+2.8%) from 2018

Net Income

Up

$914

Up $2,793 (+149%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2019

Assets$577,796
Liabilities$715,863
Net Assets-$138,067
Open 2019 Filing

Operations Trend

Revenue Growth51st 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

2019

Revenue$179,381
Expenses$178,467
Net Income$914
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Nov 20, 2019
Return Version
2018v3.1
Gross Receipts
$179,381
Mission and Program Overview

Mission

To construct and operate elderly and handicapped housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$480,475$449,944▼ $30,531
Savings and Temporary Cash Investments$114,288$120,724▲ $6,436
Prepaid Expenses and Deferred Charges$6,737$6,737→ $0
Cash and Non-Interest-Bearing Accounts$776$391▼ $385
Total Assets$602,276$577,796▼ $24,480
Liabilities
Mortgage Notes Payable Secured by Investment Property$657,502$631,684▼ $25,818
Accounts Payable and Accrued Expenses$80,130$80,493▲ $363
Other Liabilities$3,625$3,686▲ $61
Total Liabilities$741,257$715,863▼ $25,394
Net Assets / Fund Balance
Temporarily Rstr Net Assets$168,506$149,680▼ $18,826
Unrestricted Net Assets$-307,487$-287,747▲ $19,740
Total Net Assets Fund Balance$-138,981$-138,067▲ $914
Total Liabilities and Net Assets / Fund Balance$602,276$577,796▼ $24,480

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$369,053$1,180,137$1,549,190
Land$65,438-$65,438
Equipment$15,453$23,366$38,819
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Mary HindmanPresident
Dorothy PetersonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$178,956
Investment Income
$425
Other Revenue
$0
Change in Net Assets
$914

Audited Revenue Reconciliation

Revenue per Audited Statements
$179,381
Total Revenue per Audited Statements
$179,381
Total Revenue per Form 990
$179,381
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$173,271
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$58,898--$58,898
Occupancy$47,561--$47,561
Depreciation Depletion$38,171--$38,171
Fees for Services Management-$9,585-$9,585
Fees for Services Accounting-$9,104-$9,104
Insurance$8,769--$8,769
Other Salaries and Wages$4,800--$4,800
Office Expenses-$661-$661
Payroll Taxes$396--$396
Other Expenses-$393-$393
Advertising-$129-$129
Total Functional Expenses$158,595$19,872$0$178,467

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$178,467
Total Expenses per Audited Statements$178,467
Total Expenses per Form 990$178,467
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$3,686
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“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 total fees paid and accrued to the management company for the year ended september 30, 2019 were 9,585. The agreement with right way management services, llc automatically renews unless notification is made of an intention to terminate the agreement.”

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

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

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

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

Form 990, Page 6, Part VI, Line 19

“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
Phone
5634326160
Signed
2019-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Hindman
Formed
1985
Legal Domicile
Ia
Voting Board Members
2
Independent Board Members
2
Employees
1

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

Financial Statement Notes

Schedule D, Page 3, Part X

“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.”

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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01180137
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01549190
IRS990ScheduleD/EquipmentGrp/BookValueAmt015453
IRS990ScheduleD/EquipmentGrp/DepreciationAmt023366
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt038819
IRS990ScheduleD/ExpensesSubtotalAmt0178467
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt065438
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt065438
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03686
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IRS990ScheduleD/RevenueSubtotalAmt0179381
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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0178467
IRS990ScheduleD/TotalLiabilityAmt03686
IRS990ScheduleD/TotalRevenuePerForm990Amt0179381
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0179381
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0178467
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 TOTAL FEES PAID AND ACCRUED TO THE MANAGEMENT COMPANY FOR THE YEAR ENDED SEPTEMBER 30, 2019 WERE 9,585. 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, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0149680
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0577796
IRS990/TotalAssetsGrp/BOYAmt0602276
IRS990/TotalAssetsGrp/EOYAmt0577796
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt019872
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0158595
IRS990/TotalFunctionalExpensesGrp/TotalAmt0178467
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0741257
IRS990/TotalLiabilitiesEOYAmt0715863
IRS990/TotalLiabilitiesGrp/BOYAmt0741257
IRS990/TotalLiabilitiesGrp/EOYAmt0715863
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-138981
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-138067
IRS990/TotalProgramServiceExpensesAmt0158595
IRS990/TotalProgramServiceRevenueAmt0178956
IRS990/TotalRevenueGrp/ExclusionAmt03858
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0175523
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0179381
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0602276
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0577796
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-307487
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-287747
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0205 E 1ST ST
IRS990/USAddress/CityNm0MECHANICSVILLE
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052306
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARY HINDMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05634326160
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROJECT INDEPENDENCE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O RIGHTWAY MANAGEMENT
ReturnHeader/Filer/BusinessNameControlTxt0PROJ
ReturnHeader/Filer/EIN0421162709
ReturnHeader/Filer/PhoneNum05639423330
ReturnHeader/Filer/USAddress/AddressLine1Txt0205 EAST FIRST STREET
ReturnHeader/Filer/USAddress/CityNm0MECHANICSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052306
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D14515F2C9131908D69BFB4EADC9AFB1FF5F8D0E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0131501A35477A59A285D0436AD4D27B2F0C0EB01
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.38.98.93
ReturnHeader/FilingSecurityInformation/IPDt02019-11-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:25:40
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421029744
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TDT CPAS AND ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0317 HIGH AVE E
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OSKALOOSA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0525772823
ReturnHeader/PreparerPersonGrp/PhoneNum06416722523
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH B RYAN CPA
ReturnHeader/ReturnTs02019-11-21T15:25:40-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-10-01
ReturnHeader/TaxPeriodEndDt02019-09-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$577,796
Liabilities
$715,863
Net assets
-$138,067
Revenue
$179,381
Expenses
$178,467
Net income
$914
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