Civic Intelligence

Poweshiek Area Housing Inc

EIN 42-1298086 • 501(c)3 • Grinnell, IA

Profile

Provide housing for senior citizens and mentally handicapped.

214 4th Ave WestGrinnell, IA 50112

n/A

Siviq Scores

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

Liabilities / Assets

95th percentile

1.16x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

3.27x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

56th percentile

7.2%

Higher net margin than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

33rd percentile

-1.9%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

12th percentile

-27%

Faster revenue growth than 12% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$1,438,055

Down $28,502 (-1.9%) from 2023

Liabilities

Down

$1,667,548

Down $65,399 (-3.8%) from 2023

Net Assets

Up

-$229,493

Up $36,897 (+14%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin56th percentile

Revenue

Down

$510,691

Down $191,452 (-27%) from 2023

Expenses

Down

$473,794

Down $47,787 (-9.2%) from 2023

Net Income

Down

$36,897

Down $143,665 (-80%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth33rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $1,824,589Liabilities 2010: $2,334,866Net Assets 2010: -$510,2772010Assets 2011: $1,858,952Liabilities 2011: $2,529,875Net Assets 2011: -$670,9232011Assets 2012: $1,839,839Liabilities 2012: $2,523,452Net Assets 2012: -$683,6132012Assets 2013: $1,757,970Liabilities 2013: $2,424,234Net Assets 2013: -$666,2642013Assets 2014: $1,716,149Liabilities 2014: $2,359,632Net Assets 2014: -$643,4832014Assets 2015: $1,712,408Liabilities 2015: $2,318,387Net Assets 2015: -$605,9792015Assets 2016: $1,771,621Liabilities 2016: $2,307,189Net Assets 2016: -$535,5682016Assets 2017: $1,776,138Liabilities 2017: $2,266,132Net Assets 2017: -$489,9942017Assets 2018: $1,641,282Liabilities 2018: $2,137,385Net Assets 2018: -$496,1032018Assets 2019: $1,587,086Liabilities 2019: $2,099,305Net Assets 2019: -$512,2192019Assets 2020: $1,520,011Liabilities 2020: $1,989,640Net Assets 2020: -$469,6292020Assets 2021: $1,392,908Liabilities 2021: $1,873,625Net Assets 2021: -$480,7172021Assets 2022: $1,360,090Liabilities 2022: $1,807,042Net Assets 2022: -$446,9522022Assets 2023: $1,466,557Liabilities 2023: $1,732,947Net Assets 2023: -$266,3902023Assets 2024: $1,438,055Liabilities 2024: $1,667,548Net Assets 2024: -$229,4932024

Highlighted filing

2024

Assets$1,438,055
Liabilities$1,667,548
Net Assets-$229,493
Open 2024 Filing

Operations Trend

Revenue Growth12th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $527,4622010Expenses 2011: $724,6752011Expenses 2012: $578,1222012Revenue 2013: $573,599Expenses 2013: $556,250Net Income 2013: $17,3492013Revenue 2014: $573,994Expenses 2014: $551,213Net Income 2014: $22,7812014Revenue 2015: $585,247Expenses 2015: $547,743Net Income 2015: $37,5042015Revenue 2016: $587,543Expenses 2016: $557,137Net Income 2016: $30,4062016Revenue 2017: $581,818Expenses 2017: $536,244Net Income 2017: $45,5742017Revenue 2018: $547,928Expenses 2018: $554,037Net Income 2018: -$6,1092018Revenue 2019: $511,880Expenses 2019: $527,996Net Income 2019: -$16,1162019Revenue 2020: $500,937Expenses 2020: $458,347Net Income 2020: $42,5902020Revenue 2021: $502,801Expenses 2021: $513,889Net Income 2021: -$11,0882021Revenue 2022: $531,663Expenses 2022: $497,898Net Income 2022: $33,7652022Revenue 2023: $702,143Expenses 2023: $521,581Net Income 2023: $180,5622023Revenue 2024: $510,691Expenses 2024: $473,794Net Income 2024: $36,8972024

Highlighted filing

2024

Revenue$510,691
Expenses$473,794
Net Income$36,897
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,438,055
Liabilities
$1,667,548
Net assets
-$229,493
Revenue
$510,691
Expenses
$473,794
Net income
$36,897
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.44$1.67$0.23$0.51$0.47$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.47$1.73$0.27$0.70$0.52$0.18
2022Detailed filing. Detailed filing data is available for this year.$1.36$1.81$0.45$0.53$0.50$0.03
2021Detailed filing. Detailed filing data is available for this year.$1.39$1.87$0.48$0.50$0.51$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.52$1.99$0.47$0.50$0.46$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.59$2.10$0.51$0.51$0.53$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.64$2.14$0.50$0.55$0.55$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.78$2.27$0.49$0.58$0.54$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.77$2.31$0.54$0.59$0.56$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.71$2.32$0.61$0.59$0.55$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.72$2.36$0.64$0.57$0.55$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.76$2.42$0.67$0.57$0.56$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.84$2.52$0.68$0.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.86$2.53$0.67$0.72
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.82$2.33$0.51$0.53
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 6, 2025
Return Version
2024v5.0
Gross Receipts
$510,691
Mission and Program Overview

Mission

Provide housing for senior citizens and mentally handicapped.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$813,135$716,703▼ $96,432
Land, Buildings, and Equipment, Net$523,518$609,912▲ $86,394
Prepaid Expenses and Deferred Charges$6,300$6,300→ $0
Cash and Non-Interest-Bearing Accounts$16,467$5,404▼ $11,063
Accounts Receivable-$616-
Total Assets$1,466,557$1,438,055▼ $28,502
Other Assets Total$107,137$99,120▼ $8,017
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,705,209$1,637,476▼ $67,733
Other Liabilities$18,729$16,019▼ $2,710
Accounts Payable and Accrued Expenses$9,009$14,053▲ $5,044
Total Liabilities$1,732,947$1,667,548▼ $65,399
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-266,390$-229,493▲ $36,897
Total Net Assets Fund Balance$-266,390$-229,493▲ $36,897
Total Liabilities and Net Assets / Fund Balance$1,466,557$1,438,055▼ $28,502

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$376,574$2,542,116$2,918,690
Other Land Buildings$178,963$249,557$428,520
Land$51,606-$51,606
Equipment$2,769$30,444$33,213
Leasehold Improvements-$31,042$31,042
Other Assets Org$99,120--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Douglas CameronPresident
Betty LuddenDirector
Doris L HotchkinDirector
Paul KolpinDirector
Kate SlaterSecretarty/t
Frank ShultsVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
German Plumbing Heating & CoolingPlumbing610 1ST AVE, Grinnell, IA 50112$104,862
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$506,217
Investment Income
$4,474
Other Revenue
$0
Change in Net Assets
$36,897

Audited Revenue Reconciliation

Revenue per Audited Statements
$510,691
Total Revenue per Audited Statements
$510,691
Total Revenue per Form 990
$510,691
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$453,690
Salaries, Compensation, and Employee Benefits$20,104
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$193,274--$193,274
Insurance$86,010$658-$86,668
Interest$62,542--$62,542
Depreciation Depletion$47,904--$47,904
Fees for Services Management-$29,132-$29,132
Other Salaries and Wages-$18,624-$18,624
Office Expenses-$13,544-$13,544
Fees for Services Accounting-$13,175-$13,175
Advertising-$7,293-$7,293
Payroll Taxes-$1,480-$1,480
Fees for Services Legal-$158-$158
Total Functional Expenses$389,730$84,064$0$473,794

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$473,794
Total Expenses per Audited Statements$473,794
Total Expenses per Form 990$473,794
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
Security Deposit Liability$16,019
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Conflict-of-interest policy
No
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 for management services with rightway management services, effective may 1, 2020. Rightway is to be compensated by monthly fees totaling 5.8% of residential income collected as well as 7% of all other miscellaneous income received during the month for the years ending december 31, 2024 and 2023. The agreement renews unless notification is made of an intention to terminate the agreement. Hud authorizes a release of excess funds from the residual receipts account to offset section 8 subsidy. Although the offset of the section 8 subsidy is not considered gross collections, management fees can still be collected on the funds released for the offset as authorized by hud.”

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

“The 990 will be reviewed by a member of the management company and then presented at a board meeting.”

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

“Although there is no formal written conflict of interest policy, the board members are aware of such situations and have complied with an informal, unwritten policy.”

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

“The management fee is determined and approved by hud.”

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

“There are no compensated officers or key employees.”

Form 990, Page 6, Part VI, Line 19

“Copies of the 990 and audited financial statements are available at the business office.”

Filing and Contact Details

Filer

Filer Name
Poweshiek Area Housing Inc
EIN
42-1298086
Phone
5634326160
Address
214 4TH AVE WEST, GRINNELL, IA 50112

Signing Officer

Name
Douglas Cameron
Title
President
Phone
5152230300
Signed
2025-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Cameron
Formed
1987
Legal Domicile
Ia
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Forge Financial & Management Consulting
Address
1245 JORDAN CREEK PKWY STE 100, WEST DES MOINES, IA 50266-2343
Preparer
Ross Vanlaar CPA
Phone
5156203050
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. Becaus of its non-profit status, the organization is exempt from income taxes under irc section 501(c)(3). The organizaztion is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Raw XML AppendixShowing 400 of 453 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS INCORPORATED UNDER THE LAWS OF IOWA AS A NON-PROFIT ORGANIZATION. BECAUS OF ITS NON-PROFIT STATUS, THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER IRC SECTION 501(C)(3). THE ORGANIZAZTION 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ENTERED INTO AN AGREEMENT FOR MANAGEMENT SERVICES WITH RIGHTWAY MANAGEMENT SERVICES, EFFECTIVE MAY 1, 2020. RIGHTWAY IS TO BE COMPENSATED BY MONTHLY FEES TOTALING 5.8% OF RESIDENTIAL INCOME COLLECTED AS WELL AS 7% OF ALL OTHER MISCELLANEOUS INCOME RECEIVED DURING THE MONTH FOR THE YEARS ENDING DECEMBER 31, 2024 AND 2023. THE AGREEMENT RENEWS UNLESS NOTIFICATION IS MADE OF AN INTENTION TO TERMINATE THE AGREEMENT. HUD AUTHORIZES A RELEASE OF EXCESS FUNDS FROM THE RESIDUAL RECEIPTS ACCOUNT TO OFFSET SECTION 8 SUBSIDY. ALTHOUGH THE OFFSET OF THE SECTION 8 SUBSIDY IS NOT CONSIDERED GROSS COLLECTIONS, MANAGEMENT FEES CAN STILL BE COLLECTED ON THE FUNDS RELEASED FOR THE OFFSET AS AUTHORIZED BY HUD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 WILL BE REVIEWED BY A MEMBER OF THE MANAGEMENT COMPANY AND THEN PRESENTED AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALTHOUGH THERE IS NO FORMAL WRITTEN CONFLICT OF INTEREST POLICY, THE BOARD MEMBERS ARE AWARE OF SUCH SITUATIONS AND HAVE COMPLIED WITH AN INFORMAL, UNWRITTEN POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE MANAGEMENT FEE IS DETERMINED AND APPROVED BY HUD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE ARE NO COMPENSATED OFFICERS OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COPIES OF THE 990 AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AT THE BUSINESS OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
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