Civic Intelligence

Project Independence Inc

990 • Fiscal year 2018 • EIN 42-1162709

Oct 01, 2017 to Sep 30, 2018 • Filed on Jan 21, 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

1.23x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

97th percentile

4.32x

Higher debt load relative to revenue than 97% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

36th percentile

-1.1%

Higher net margin than 36% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

30th percentile

-3.9%

Faster asset growth than 30% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

38th percentile

-1.0%

Faster revenue growth than 38% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$602,276

Down $24,393 (-3.9%) from 2017

Net Assets

Down

-$138,981

Down $1,879 (-1.4%) from 2017

Liabilities

Down

$741,257

Down $22,514 (-2.9%) from 2017

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin36th percentile

Revenue

Down

$171,711

Down $1,787 (-1.0%) from 2017

Expenses

Down

$173,590

Down $755 (-0.4%) from 2017

Net Income

Down

-$1,879

Down $1,032 (-122%) from 2017

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

2018

Assets$602,276
Liabilities$741,257
Net Assets-$138,981
Open 2018 Filing

Operations Trend

Revenue Growth38th 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

2018

Revenue$171,711
Expenses$173,590
Net Income-$1,879
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jan 21, 2019
Return Version
2017v2.3
Gross Receipts
$171,711
Mission and Program Overview

Mission

To construct and operate elderly and handicapped housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$444,619$480,475▲ $35,856
Savings and Temporary Cash Investments$167,942$114,288▼ $53,654
Prepaid Expenses and Deferred Charges$6,737$6,737→ $0
Cash and Non-Interest-Bearing Accounts$7,371$776▼ $6,595
Total Assets$626,669$602,276▼ $24,393
Liabilities
Mortgage Notes Payable Secured by Investment Property$680,937$657,502▼ $23,435
Accounts Payable and Accrued Expenses$79,441$80,130▲ $689
Other Liabilities$3,393$3,625▲ $232
Total Liabilities$763,771$741,257▼ $22,514
Net Assets / Fund Balance
Temporarily Rstr Net Assets$185,785$168,506▼ $17,279
Unrestricted Net Assets$-322,887$-307,487▲ $15,400
Total Net Assets Fund Balance$-137,102$-138,981▼ $1,879
Total Liabilities and Net Assets / Fund Balance$626,669$602,276▼ $24,393

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$402,934$1,143,581$1,546,515
Land$65,438-$65,438
Equipment$12,103$21,751$33,854
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
$171,420
Investment Income
$291
Other Revenue
$0
Change in Net Assets
$-1,879

Audited Revenue Reconciliation

Revenue per Audited Statements
$171,711
Total Revenue per Audited Statements
$171,711
Total Revenue per Form 990
$171,711
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$170,992
Salaries, Compensation, and Employee Benefits$2,598
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$61,310--$61,310
Occupancy$51,584--$51,584
Depreciation Depletion$31,132--$31,132
Fees for Services Management-$9,204-$9,204
Fees for Services Accounting-$8,787-$8,787
Insurance$7,984--$7,984
Other Salaries and Wages$2,400--$2,400
Office Expenses-$591-$591
Other Expenses-$400-$400
Payroll Taxes$198--$198
Total Functional Expenses$154,608$18,982$0$173,590

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$173,590
Total Expenses per Audited Statements$173,590
Total Expenses per Form 990$173,590
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$3,625
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, 2018 were 9,204. 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
2019-01-21
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
0
Volunteers
2

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/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
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0480475
IRS990ScheduleD/TotalExpensesPerForm990Amt0173590
IRS990ScheduleD/TotalLiabilityAmt03625
IRS990ScheduleD/TotalRevenuePerForm990Amt0171711
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0171711
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0173590
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, 2018 WERE 9,204. 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/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0185785
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0168506
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0626669
IRS990/TotalAssetsEOYAmt0602276
IRS990/TotalAssetsGrp/BOYAmt0626669
IRS990/TotalAssetsGrp/EOYAmt0602276
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018982
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0154608
IRS990/TotalFunctionalExpensesGrp/TotalAmt0173590
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0763771
IRS990/TotalLiabilitiesEOYAmt0741257
IRS990/TotalLiabilitiesGrp/BOYAmt0763771
IRS990/TotalLiabilitiesGrp/EOYAmt0741257
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-137102
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-138981
IRS990/TotalProgramServiceExpensesAmt0154608
IRS990/TotalProgramServiceRevenueAmt0171420
IRS990/TotalRevenueGrp/ExclusionAmt03657
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0168054
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0171711
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0626669
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0602276
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-322887
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-307487
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/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARY HINDMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05634326160
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-01-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROJECT INDEPENDENCE
ReturnHeader/Filer/BusinessNameControlTxt0PROJ
ReturnHeader/Filer/EIN0421162709
ReturnHeader/Filer/PhoneNum05639423330
ReturnHeader/Filer/USAddress/AddressLine1Txt0205 EAST FIRST STREET
ReturnHeader/Filer/USAddress/CityNm0MECHANICSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0639E43D7064DA110D86365B3D40C5518D435221F
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D65B8C24A6D834F8E6E3582B5F89B03B947C9ED7
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-01-22
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:48:50
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/PreparationDt02019-01-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH B RYAN CPA
ReturnHeader/ReturnTs02019-01-22T13:48:50-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$602,276
Liabilities
$741,257
Net assets
-$138,981
Revenue
$171,711
Expenses
$173,590
Net income
-$1,879
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