Civic Intelligence

Freeway Homes Inc

990 • Fiscal year 2019 • EIN 43-1112009

May 01, 2018 to Apr 30, 2019 • Filed on Nov 26, 2019

Organization ProfileN/A
7920 Ward ParkwayKansas City, MO 64114

(816) 561-4240

Siviq Scores

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

Liabilities / Assets

96th percentile

1.22x

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

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

2.14x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Net Margin

53rd percentile

8.4%

Higher net margin than 53% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Asset Growth

44th percentile

1.4%

Faster asset growth than 44% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

55th percentile

4.1%

Faster revenue growth than 55% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$939,961

Up $12,997 (+1.4%) from 2018

Net Assets

Up

-$209,869

Up $45,042 (+18%) from 2018

Liabilities

Down

$1,149,830

Down $32,045 (-2.7%) from 2018

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin53rd percentile

Revenue

Up

$536,100

Up $21,214 (+4.1%) from 2018

Expenses

Down

$491,057

Down $18,798 (-3.7%) from 2018

Net Income

Up

$45,043

Up $40,012 (+795%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$2.0M$1.0M$0-$1.0MAssets 2012: $971,358Liabilities 2012: $1,552,422Net Assets 2012: -$581,0642012Assets 2013: $884,045Liabilities 2013: $1,462,620Net Assets 2013: -$578,5752013Assets 2014: $858,614Liabilities 2014: $1,395,758Net Assets 2014: -$537,1442014Assets 2015: $863,721Liabilities 2015: $1,313,585Net Assets 2015: -$449,8642015Assets 2016: $869,534Liabilities 2016: $1,232,953Net Assets 2016: -$363,4192016Assets 2017: $895,721Liabilities 2017: $1,155,663Net Assets 2017: -$259,9422017Assets 2018: $926,964Liabilities 2018: $1,181,875Net Assets 2018: -$254,9112018Assets 2019: $939,961Liabilities 2019: $1,149,830Net Assets 2019: -$209,8692019Assets 2020: $997,314Liabilities 2020: $1,149,638Net Assets 2020: -$152,3242020Assets 2021: $1,012,939Liabilities 2021: $1,148,350Net Assets 2021: -$135,4112021Assets 2022: $1,093,308Liabilities 2022: $1,150,298Net Assets 2022: -$56,9902022Assets 2023: $1,135,048Liabilities 2023: $1,148,608Net Assets 2023: -$13,5602023Assets 2024: $1,208,045Liabilities 2024: $1,146,062Net Assets 2024: $61,9832024Assets 2025: $1,321,280Liabilities 2025: $1,142,334Net Assets 2025: $178,9462025

Highlighted filing

2019

Assets$939,961
Liabilities$1,149,830
Net Assets-$209,869
Open 2019 Filing

Operations Trend

Revenue Growth55th percentile

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

$1.0M$500K$0-$500KRevenue 2012: $414,095Expenses 2012: $440,758Net Income 2012: -$26,6632012Revenue 2013: $427,947Expenses 2013: $425,458Net Income 2013: $2,4892013Revenue 2014: $487,161Expenses 2014: $445,730Net Income 2014: $41,4312014Revenue 2015: $522,892Expenses 2015: $435,612Net Income 2015: $87,2802015Revenue 2016: $566,393Expenses 2016: $479,948Net Income 2016: $86,4452016Revenue 2017: $543,885Expenses 2017: $440,408Net Income 2017: $103,4772017Revenue 2018: $514,886Expenses 2018: $509,855Net Income 2018: $5,0312018Revenue 2019: $536,100Expenses 2019: $491,057Net Income 2019: $45,0432019Revenue 2020: $548,959Expenses 2020: $491,414Net Income 2020: $57,5452020Revenue 2021: $578,350Expenses 2021: $561,437Net Income 2021: $16,9132021Revenue 2022: $601,417Expenses 2022: $522,996Net Income 2022: $78,4212022Revenue 2023: $625,545Expenses 2023: $582,115Net Income 2023: $43,4302023Revenue 2024: $655,942Expenses 2024: $580,399Net Income 2024: $75,5432024Revenue 2025: $859,145Expenses 2025: $742,182Net Income 2025: $116,9632025

Highlighted filing

2019

Revenue$536,100
Expenses$491,057
Net Income$45,043
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2018 to Apr 30, 2019
Signed
Nov 26, 2019
Return Version
2018v3.1
Gross Receipts
$536,100
Mission and Program Overview

Mission

Provide coop housing for low income people

Provide coop housing for low income people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$454,827-
Land, Buildings, and Equipment, Net$430,508$405,643▼ $24,865
Cash and Non-Interest-Bearing Accounts$84,424$67,312▼ $17,112
Prepaid Expenses and Deferred Charges$9,682$10,906▲ $1,224
Accounts Receivable$827$1,273▲ $446
Total Assets$926,963$939,961▲ $12,998
Other Assets Total$401,522$0▼ $401,522
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,108,835$1,103,312▼ $5,523
Other Liabilities$23,156$25,646▲ $2,490
Accounts Payable and Accrued Expenses$48,832$19,297▼ $29,535
Deferred Revenue$1,052$1,575▲ $523
Total Liabilities$1,181,875$1,149,830▼ $32,045
Net Assets / Fund Balance
Unrestricted Net Assets$-254,912$-209,869▲ $45,043
Total Net Assets Fund Balance$-254,912$-209,869▲ $45,043
Total Liabilities and Net Assets / Fund Balance$926,963$939,961▲ $12,998

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$316,715$2,221,613$2,538,328
Equipment$0$98,975$98,975
Land$88,928-$88,928
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Faye Etta ParksPresident
Botreece DunnBoard Member
Brenda TaylorBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$533,819
Investment Income
$2,281
Other Revenue
$0
Change in Net Assets
$45,043

Audited Revenue Reconciliation

Revenue per Audited Statements
$536,100
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$536,100
Total Revenue per Form 990
$536,100
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$383,001
Salaries, Compensation, and Employee Benefits$108,056
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$279,009--$279,009
Other Salaries and Wages$81,665$6,192-$87,857
Depreciation Depletion$35,042--$35,042
Fees for Services Management-$31,610-$31,610
Office Expenses$5,635$11,151-$16,786
Other Employee Benefits$13,591--$13,591
Fees for Services Accounting-$13,522-$13,522
Payroll Taxes$6,422--$6,422
Insurance$2,588--$2,588
Conferences and Meetings-$1,849-$1,849
Advertising$1,638--$1,638
Fees for Services Legal-$677-$677
Interest-$250-$250
Pension Plan Contributions$186--$186
Other Expenses-$30-$30
Total Functional Expenses$425,776$65,281$0$491,057

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$491,057
Total Expenses per Audited Statements$491,057
Total Expenses per Form 990$491,057
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$21,536
Miscellaneous Curent Liabilities$4,110
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Freeway homes, inc. Is in agreement with yarco company, inc., who provides management services for the organization.”

Form 990, Part VI, Section A, Line 7B

“The organization operates a housing development under section 202 of the national housing act. Items such as rent charges, major additions and renovations and cash distributions to officers and directors are subject to prior approval by the u.s. Department of housing and urban development.”

Form 990, Part VI, Section B, Line 11B

“The board member or members assigned to review the tax return review the return and send it back to the management agent.”

Form 990, Part VI, Section B, Line 12C

“Yarco co monitors policies on behalf of freeway homes, inc.”

Form 990, Part VI, Section C, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Freeway Homes Inc
EIN
43-1112009
Phone
8165614240
Address
7920 WARD PARKWAY, KANSAS CITY, MO 64114

Signing Officer

Name
Faye Etta Parks
Title
President
Phone
8165614240
Signed
2019-11-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Faye Etta Parks
Formed
1975
Legal Domicile
Mo
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Keller & Owens LLC
Address
10955 LOWELL AVE STE 800, OVERLAND PARK, KS 66210
Preparer
Rich a Bili
Phone
9133383500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The financial statements do not include a provision for income taxes, since the project does not incur federal or state income taxes. The project has adopted the provisions of fasb asc 740-10 as it might apply to the project's financial transactions. The project's policy is to regularly review its tax positions such as tax status and nexus with its advisors. The project's policy is to record a liability for any tax position that would result in a project obligation for income taxes, including any related interest and penalties, when it is more likely than not the position taken by management with respect to the transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no such positions as of april 30, 2019, and, accordingly, no liability has been accrued.”

Raw XML Appendix342 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 FINANCIAL STATEMENTS DO NOT INCLUDE A PROVISION FOR INCOME TAXES, SINCE THE PROJECT DOES NOT INCUR FEDERAL OR STATE INCOME TAXES. THE PROJECT HAS ADOPTED THE PROVISIONS OF FASB ASC 740-10 AS IT MIGHT APPLY TO THE PROJECT'S FINANCIAL TRANSACTIONS. THE PROJECT'S POLICY IS TO REGULARLY REVIEW ITS TAX POSITIONS SUCH AS TAX STATUS AND NEXUS WITH ITS ADVISORS. THE PROJECT'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION THAT WOULD RESULT IN A PROJECT OBLIGATION FOR INCOME TAXES, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO THE TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF APRIL 30, 2019, AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED.
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FREEWAY HOMES, INC. IS IN AGREEMENT WITH YARCO COMPANY, INC., WHO PROVIDES MANAGEMENT SERVICES FOR THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION OPERATES A HOUSING DEVELOPMENT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. ITEMS SUCH AS RENT CHARGES, MAJOR ADDITIONS AND RENOVATIONS AND CASH DISTRIBUTIONS TO OFFICERS AND DIRECTORS ARE SUBJECT TO PRIOR APPROVAL BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBER OR MEMBERS ASSIGNED TO REVIEW THE TAX RETURN REVIEW THE RETURN AND SEND IT BACK TO THE MANAGEMENT AGENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3YARCO CO MONITORS POLICIES ON BEHALF OF FREEWAY HOMES, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0926963
IRS990/TotalAssetsEOYAmt0939961
IRS990/TotalAssetsGrp/BOYAmt0926963
IRS990/TotalAssetsGrp/EOYAmt0939961
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt065281
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0425776
IRS990/TotalFunctionalExpensesGrp/TotalAmt0491057
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01181875
IRS990/TotalLiabilitiesEOYAmt01149830
IRS990/TotalLiabilitiesGrp/BOYAmt01181875
IRS990/TotalLiabilitiesGrp/EOYAmt01149830
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-254912
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-209869
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0425776
IRS990/TotalProgramServiceRevenueAmt0533819
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02281
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0533819
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0536100
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0926963
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0939961
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-254912
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-209869
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07920 WARD PARKWAY
IRS990/USAddress/CityNm0KANSAS CITY
IRS990/USAddress/StateAbbreviationCd0MO
IRS990/USAddress/ZIPCd064114
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0FAYE ETTA PARKS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08165614240
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREEWAY HOMES INC
ReturnHeader/Filer/BusinessNameControlTxt0FREE
ReturnHeader/Filer/EIN0431112009
ReturnHeader/Filer/PhoneNum08165614240
ReturnHeader/Filer/USAddress/AddressLine1Txt07920 WARD PARKWAY
ReturnHeader/Filer/USAddress/CityNm0KANSAS CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MO
ReturnHeader/Filer/USAddress/ZIPCd064114
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00185A911D3145993CF50D77E40ABEF20031E8F57
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0192.155.75.154
ReturnHeader/FilingSecurityInformation/IPDt02019-11-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm016:19:57
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0481195228
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KELLER & OWENS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010955 LOWELL AVE STE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OVERLAND PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd066210
ReturnHeader/PreparerPersonGrp/PhoneNum09133383500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICH A BILI
ReturnHeader/ReturnTs02019-12-05T10:37:03-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-05-01
ReturnHeader/TaxPeriodEndDt02019-04-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$939,961
Liabilities
$1,149,830
Net assets
-$209,869
Revenue
$536,100
Expenses
$491,057
Net income
$45,043
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.32$1.14$0.18$0.86$0.74$0.12
2024Detailed filing. Detailed filing data is available for this year.$1.21$1.15$0.06$0.66$0.58$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.14$1.15$0.01$0.63$0.58$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.09$1.15$0.06$0.60$0.52$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.01$1.15$0.14$0.58$0.56$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.00$1.15$0.15$0.55$0.49$0.06
2019Detailed filing. Detailed filing data is available for this year.$0.94$1.15$0.21$0.54$0.49$0.05
2018Summary only. Only limited summary data is available for this year.$0.93$1.18$0.25$0.51$0.51$0.01
2017Summary only. Only limited summary data is available for this year.$0.90$1.16$0.26$0.54$0.44$0.10
2016Summary only. Only limited summary data is available for this year.$0.87$1.23$0.36$0.57$0.48$0.09
2015Summary only. Only limited summary data is available for this year.$0.86$1.31$0.45$0.52$0.44$0.09
2014Summary only. Only limited summary data is available for this year.$0.86$1.40$0.54$0.49$0.45$0.04
2013Summary only. Only limited summary data is available for this year.$0.88$1.46$0.58$0.43$0.43$0.00
2012Summary only. Only limited summary data is available for this year.$0.97$1.55$0.58$0.41$0.44$0.03