Civic Intelligence

Ilq Inc Marshall CMI Housing

EIN 42-1388168 • 501(c)3 • West Des Moines, IA

Profile

The organization provides low rent housing in a 16 apartment complex to elderly and handicapped persons.

C/O Keyway ManagementWest Des Moines, IA 50266

n/A

Siviq Scores

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

Liabilities / Assets

96th percentile

1.53x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

10.22x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

8th percentile

-42%

Higher net margin than 8% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

43rd percentile

0.5%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

30th percentile

-6.3%

Faster revenue growth than 30% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$598,442

Up $2,927 (+0.5%) from 2023

Liabilities

Up

$915,683

Up $40,956 (+4.7%) from 2023

Net Assets

Down

-$317,241

Down $38,029 (-14%) from 2023

Operations
Liabilities / Revenue99th percentileNet Margin8th percentile

Revenue

Down

$89,620

Down $5,990 (-6.3%) from 2023

Expenses

Up

$127,649

Up $3,630 (+2.9%) from 2023

Net Income

Down

-$38,029

Down $9,620 (-34%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth43rd percentile

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

$1.0M$500K$0-$500KAssets 2011: $609,503Liabilities 2011: $832,594Net Assets 2011: -$223,0912011Assets 2012: $592,892Liabilities 2012: $827,607Net Assets 2012: -$234,7152012Assets 2013: $595,620Liabilities 2013: $830,943Net Assets 2013: -$235,3232013Assets 2014: $589,911Liabilities 2014: $837,024Net Assets 2014: -$247,1132014Assets 2015: $600,745Liabilities 2015: $837,771Net Assets 2015: -$237,0262015Assets 2016: $593,910Liabilities 2016: $827,606Net Assets 2016: -$233,6962016Assets 2017: $600,235Liabilities 2017: $836,153Net Assets 2017: -$235,9182017Assets 2018: $606,647Liabilities 2018: $845,734Net Assets 2018: -$239,0872018Assets 2019: $602,915Liabilities 2019: $848,692Net Assets 2019: -$245,7772019Assets 2020: $608,498Liabilities 2020: $853,342Net Assets 2020: -$244,8442020Assets 2021: $606,279Liabilities 2021: $859,334Net Assets 2021: -$253,0552021Assets 2022: $591,874Liabilities 2022: $842,677Net Assets 2022: -$250,8032022Assets 2023: $595,515Liabilities 2023: $874,727Net Assets 2023: -$279,2122023Assets 2024: $598,442Liabilities 2024: $915,683Net Assets 2024: -$317,2412024

Highlighted filing

2024

Assets$598,442
Liabilities$915,683
Net Assets-$317,241
Open 2024 Filing

Operations Trend

Revenue Growth30th percentile

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

$150K$100K$50K$0-$50KExpenses 2011: $82,8252011Expenses 2012: $84,8702012Expenses 2013: $90,3502013Revenue 2014: $90,994Expenses 2014: $102,784Net Income 2014: -$11,7902014Revenue 2015: $110,414Expenses 2015: $100,327Net Income 2015: $10,0872015Revenue 2016: $108,374Expenses 2016: $105,044Net Income 2016: $3,3302016Revenue 2017: $110,782Expenses 2017: $113,004Net Income 2017: -$2,2222017Revenue 2018: $113,112Expenses 2018: $116,281Net Income 2018: -$3,1692018Revenue 2019: $111,559Expenses 2019: $118,249Net Income 2019: -$6,6902019Revenue 2020: $117,019Expenses 2020: $116,086Net Income 2020: $9332020Revenue 2021: $104,840Expenses 2021: $113,051Net Income 2021: -$8,2112021Revenue 2022: $119,665Expenses 2022: $117,413Net Income 2022: $2,2522022Revenue 2023: $95,610Expenses 2023: $124,019Net Income 2023: -$28,4092023Revenue 2024: $89,620Expenses 2024: $127,649Net Income 2024: -$38,0292024

Highlighted filing

2024

Revenue$89,620
Expenses$127,649
Net Income-$38,029
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$598,442
Liabilities
$915,683
Net assets
-$317,241
Revenue
$89,620
Expenses
$127,649
Net income
-$38,029
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.98$9.16$3.17$0.90$1.28$0.38
2023Detailed filing. Detailed filing data is available for this year.$5.96$8.75$2.79$0.96$1.24$0.28
2022Detailed filing. Detailed filing data is available for this year.$5.92$8.43$2.51$1.20$1.17$0.02
2021Detailed filing. Detailed filing data is available for this year.$6.06$8.59$2.53$1.05$1.13$0.08
2020Detailed filing. Detailed filing data is available for this year.$6.08$8.53$2.45$1.17$1.16$0.01
2019Detailed filing. Detailed filing data is available for this year.$6.03$8.49$2.46$1.12$1.18$0.07
2018Detailed filing. Detailed filing data is available for this year.$6.07$8.46$2.39$1.13$1.16$0.03
2017Detailed filing. Detailed filing data is available for this year.$6.00$8.36$2.36$1.11$1.13$0.02
2016Detailed filing. Detailed filing data is available for this year.$5.94$8.28$2.34$1.08$1.05$0.03
2015Detailed filing. Detailed filing data is available for this year.$6.01$8.38$2.37$1.10$1.00$0.10
2014Detailed filing. Detailed filing data is available for this year.$5.90$8.37$2.47$0.91$1.03$0.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.96$8.31$2.35$0.90
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.93$8.28$2.35$0.85
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.10$8.33$2.23$0.83
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 8, 2024
Return Version
2023v5.0
Gross Receipts
$89,620
Mission and Program Overview

Mission

The organization provides low rent housing in a 16 apartment complex to elderly and handicapped persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$409,790$391,245▼ $18,545
Savings and Temporary Cash Investments$172,638$197,330▲ $24,692
Accounts Receivable$7,791$8,542▲ $751
Prepaid Expenses and Deferred Charges$908$1,015▲ $107
Cash and Non-Interest-Bearing Accounts$4,388$310▼ $4,078
Total Assets$595,515$598,442▲ $2,927
Liabilities
Mortgage Notes Payable Secured by Investment Property$822,400$822,400→ $0
Accounts Payable and Accrued Expenses$49,643$90,348▲ $40,705
Other Liabilities$2,684$2,935▲ $251
Total Liabilities$874,727$915,683▲ $40,956
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-279,212$-317,241▼ $38,029
Total Net Assets Fund Balance$-279,212$-317,241▼ $38,029
Total Liabilities and Net Assets / Fund Balance$595,515$598,442▲ $2,927

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$308,284$464,260$772,544
Leasehold Improvements$37,584$24,300$61,884
Land$45,377-$45,377
Equipment-$32,909$32,909
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Susan HolmPresident
Chris ClaussenDirector
Chris Tacconi Resigned 723Director
Jill SmithDirector
Marty WymoreDirector
Randy SvendsenDirector
Vern JeffersonDirector
Lydia ArevaloSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$89,470
Investment Income
$150
Other Revenue
$0
Change in Net Assets
$-38,029

Audited Revenue Reconciliation

Revenue per Audited Statements
$89,620
Total Revenue per Audited Statements
$89,620
Total Revenue per Form 990
$89,620
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$115,757
Salaries, Compensation, and Employee Benefits$11,892
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$28,318--$28,318
Depreciation Depletion$18,545--$18,545
Insurance$10,122--$10,122
Other Salaries and Wages-$10,080-$10,080
Fees for Services Accounting-$8,088-$8,088
Fees for Services Management-$7,251-$7,251
Office Expenses-$1,220-$1,220
Payroll Taxes-$927-$927
Other Employee Benefits-$885-$885
Other Expenses$519$7,308-$519
Fees for Services Legal-$255-$255
Total Functional Expenses$91,635$36,014$0$127,649

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$127,649
Total Expenses per Audited Statements$127,649
Total Expenses per Form 990$127,649
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$2,684
Prepaid Rent$251
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
No
Other officer compensation reviewed
No
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 has a hud approved management agreement with keyway management company. The agreement provides for a management fee of 9.89 percent of residential income collected. Management fees totaled 7,251 for the year ended june 30, 2024.”

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

“The president and ceo will review the 990 before it is filed.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ilq Inc Marshall Cmi Housing
EIN
42-1388168
Phone
5152254782
Address
C/O KEYWAY MANAGEMENT, WEST DES MOINES, IA 50266

Signing Officer

Name
Susan Holm
Title
President
Phone
5152254782
Signed
2024-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Holm
Formed
1992
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
8

Preparer

Firm
Forge Financial & Management Consulting
Address
1245 JORDAN CREEK PKWY STE 100, WEST DES MOINES, IA 50266-2343
Preparer
Benjamin Winters 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. Because of its non-profit status, the organization is exempt from income taxes under irc section 501(c)(3). No capital stock is issued. 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). NO CAPITAL STOCK IS ISSUED. 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A HUD APPROVED MANAGEMENT AGREEMENT WITH KEYWAY MANAGEMENT COMPANY. THE AGREEMENT PROVIDES FOR A MANAGEMENT FEE OF 9.89 PERCENT OF RESIDENTIAL INCOME COLLECTED. MANAGEMENT FEES TOTALED 7,251 FOR THE YEAR ENDED JUNE 30, 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT AND CEO WILL REVIEW THE 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990/USAddress/AddressLine1Txt01200 VALLEY WEST DR 108
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0SUSAN HOLM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05152254782
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ILQ INC MARSHALL CMI HOUSING
ReturnHeader/Filer/BusinessNameControlTxt0ILQI
ReturnHeader/Filer/EIN0421388168
ReturnHeader/Filer/PhoneNum05152254782
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O KEYWAY MANAGEMENT
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FORGE FINANCIAL & MANAGEMENT CONSULTING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01245 JORDAN CREEK PKWY STE 100

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