Civic Intelligence

Freeway Homes Inc

990 • Fiscal year 2024 • EIN 43-1112009

May 01, 2023 to Apr 30, 2024 • Filed on Sep 09, 2024

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

95th percentile

0.95x

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

2024 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

1.75x

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

2024 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2024

Net Margin

54th percentile

12%

Higher net margin than 54% of similar nonprofits.

2024 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

62nd percentile

$0

Higher top officer pay than 62% of similar nonprofits.

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

2024 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2024

Asset Growth

57th percentile

6.4%

Faster asset growth than 57% of similar nonprofits.

2024 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

43rd percentile

4.9%

Faster revenue growth than 43% of similar nonprofits.

2024 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,208,045

Up $72,997 (+6.4%) from 2023

Net Assets

Up

$61,983

Up $75,543 (+557%) from 2023

Liabilities

Down

$1,146,062

Down $2,546 (-0.2%) from 2023

Revenue

Up

$655,942

Up $30,397 (+4.9%) from 2023

Expenses

Down

$580,399

Down $1,716 (-0.3%) from 2023

Net Income

Up

$75,543

Up $32,113 (+74%) from 2023

Historical Trend

Balance Sheet Trend

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

2024

Assets$1,208,045
Liabilities$1,146,062
Net Assets$61,983

Operations Trend

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

2024

Revenue$655,942
Expenses$580,399
Net Income$75,543
Jump To
Filing Snapshot
Filing Period
May 1, 2023 to Apr 30, 2024
Signed
Sep 9, 2024
Return Version
2023v5.1
Gross Receipts
$655,942
Mission and Program Overview

Mission

Provide coop housing for low income people

Freeway homes, inc. Provides co-op housing for low income people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$388,586$393,909▲ $5,323
Cash and Non-Interest-Bearing Accounts$80,842$35,922▼ $44,920
Prepaid Expenses and Deferred Charges$23,031$25,219▲ $2,188
Accounts Receivable$9,627$5,438▼ $4,189
Pledges and Grants Receivable$15$1,136▲ $1,121
Total Assets$1,147,230$1,208,045▲ $60,815
Other Assets Total$645,129$746,421▲ $101,292
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,092,352$1,089,381▼ $2,971
Accounts Payable and Accrued Expenses$42,803$26,273▼ $16,530
Other Liabilities$22,109$21,034▼ $1,075
Grants Payable$3,526$9,374▲ $5,848
Total Liabilities$1,160,790$1,146,062▼ $14,728
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-13,560$61,983▲ $75,543
Total Net Assets Fund Balance$-13,560$61,983▲ $75,543
Total Liabilities and Net Assets / Fund Balance$1,147,230$1,208,045▲ $60,815

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$102,289$2,365,747$2,468,036
Leasehold Improvements$156,245$31,717$187,962
Other Land Buildings$46,447$60,425$106,872
Land$88,928-$88,928
Equipment$0$65,686$65,686
Other Assets Org$746,421--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Faye Etta ParksPresident
Brenda TaylorDirector
Karen ChisholmDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$262,140
Program Service Revenue
$375,931
Investment Income
$17,871
Other Revenue
$0
Change in Net Assets
$75,543
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$461,427
Salaries, Compensation, and Employee Benefits$118,972
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$266,790$15,746-$282,536
Other Salaries and Wages$99,206--$99,206
Fees for Services Management-$46,592-$46,592
Depreciation Depletion$44,335--$44,335
Interest$33,021--$33,021
Office Expenses$1,290$13,392-$14,682
Fees for Services Accounting-$13,630-$13,630
Other Employee Benefits$11,995--$11,995
Fees for Services Other$7,778$2,500-$10,278
Information Technology$308$7,752-$8,060
Payroll Taxes$7,766--$7,766
Conferences and Meetings$1,801$1,850-$3,651
Advertising-$2,542-$2,542
Fees for Services Legal-$1,385-$1,385
Other Expenses$473--$473
Insurance$242--$242
Pension Plan Contributions$5--$5
Total Functional Expenses$475,010$105,389$0$580,399
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
Deposits Held in Trust$21,034
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
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. Has a management agreement with yarco company, inc. ('yarco'). Yarco exclusively rents and manages the property and provides accounting services to the organization.

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

The organization operates a housing development under sec. 202 of the national housing act. Items such as rent charges, major additions, 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 and the management company, yarco company, inc., review form 990 prior to filing with the irs.

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

Yarco company, inc. Monitors policies, including the conflict-of-interest policy, on behalf of the organization.

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
2024-09-09
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
4
Volunteers
3

Preparer

Firm
Cbiz Mhm LLC
Address
700 WEST 47TH STREET SUITE 1100, KANSAS CITY, MO 64112
Preparer
Lisa Burke
Phone
8169455500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization qualifies as a tax exempt organization under section 501(c)(3) of the internal revenue code. Therefore, no provision is made for income taxes in these statements. In addition, the organization is exempt from real estate taxes. The organization has adopted the standards requiring disclosure of uncertain tax positions under the fasb asc topic "income taxes." there has been no interest or penalties recognized in the statement of activities or in the statement of financial position related to uncertain tax positions. In addition, no material tax positions exist for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within the next 12 months. The organization files tax returns in the u.s. Federal jurisdiction and the missouri state jurisdiction. The organization is no longer subject to u.s. Federal, state and local, or non-u.s. Income tax examinations by tax authorities for years prior to 2020.

Raw XML Appendix355 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/LandGrp/OtherCostOrOtherBasisAmt088928
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0156245
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt031717
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0187962
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0746421
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS & RESERVES
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt046447
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt060425
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0106872
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021034
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEPOSITS HELD IN TRUST
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION QUALIFIES AS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO PROVISION IS MADE FOR INCOME TAXES IN THESE STATEMENTS. IN ADDITION, THE ORGANIZATION IS EXEMPT FROM REAL ESTATE TAXES. THE ORGANIZATION HAS ADOPTED THE STANDARDS REQUIRING DISCLOSURE OF UNCERTAIN TAX POSITIONS UNDER THE FASB ASC TOPIC "INCOME TAXES." THERE HAS BEEN NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENT OF ACTIVITIES OR IN THE STATEMENT OF FINANCIAL POSITION RELATED TO UNCERTAIN TAX POSITIONS. IN ADDITION, NO MATERIAL TAX POSITIONS EXIST FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE WITHIN THE NEXT 12 MONTHS. THE ORGANIZATION FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND THE MISSOURI STATE JURISDICTION. THE ORGANIZATION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE AND LOCAL, OR NON-U.S. INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS PRIOR TO 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0393909
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0746421
IRS990ScheduleD/TotalLiabilityAmt021034
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FREEWAY HOMES, INC. HAS A MANAGEMENT AGREEMENT WITH YARCO COMPANY, INC. ('YARCO'). YARCO EXCLUSIVELY RENTS AND MANAGES THE PROPERTY AND PROVIDES ACCOUNTING SERVICES TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION OPERATES A HOUSING DEVELOPMENT UNDER SEC. 202 OF THE NATIONAL HOUSING ACT. ITEMS SUCH AS RENT CHARGES, MAJOR ADDITIONS, 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 AND THE MANAGEMENT COMPANY, YARCO COMPANY, INC., REVIEW FORM 990 PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3YARCO COMPANY, INC. MONITORS POLICIES, INCLUDING THE CONFLICT-OF-INTEREST POLICY, ON BEHALF OF THE ORGANIZATION.
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/StatesWhereCopyOfReturnIsFldCd0MO
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01147230
IRS990/TotalAssetsEOYAmt01208045
IRS990/TotalAssetsGrp/BOYAmt01147230
IRS990/TotalAssetsGrp/EOYAmt01208045
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0262140
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0105389
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0475010
IRS990/TotalFunctionalExpensesGrp/TotalAmt0580399
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01160790
IRS990/TotalLiabilitiesEOYAmt01146062
IRS990/TotalLiabilitiesGrp/BOYAmt01160790
IRS990/TotalLiabilitiesGrp/EOYAmt01146062
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-13560
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt061983
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0475010
IRS990/TotalProgramServiceRevenueAmt0375931
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt017871
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0375931
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0655942
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01147230
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01208045
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07920 WARD PARKWAY
IRS990/USAddress/CityNm0KANSAS CITY
IRS990/USAddress/StateAbbreviationCd0MO
IRS990/USAddress/ZIPCd064114
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.LIVEATFREEWAY.COM/
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0FAYE ETTA PARKS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08165614240
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-09
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/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341874260
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CBIZ MHM LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0700 WEST 47TH STREET SUITE 1100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KANSAS CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd064112
ReturnHeader/PreparerPersonGrp/PhoneNum08169455500
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LISA BURKE
ReturnHeader/ReturnTs02024-09-17T11:20:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-05-01
ReturnHeader/TaxPeriodEndDt02024-04-30
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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