Civic Intelligence

Palestine Gardens Inc.

990 • Fiscal year 2017 • EIN 43-1259971

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 01, 2018

Organization Profileliveatpalestinegardens.com
2627 East 33rd StreetKansas City, MO 64128

(816) 921-0140

Siviq Scores

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

Liabilities / Assets

97th percentile

1.53x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

94th percentile

3.83x

Higher debt load relative to revenue than 94% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

22nd percentile

-8.9%

Higher net margin than 22% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

17th percentile

-6.3%

Faster asset growth than 17% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

14th percentile

-17%

Faster revenue growth than 14% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$1,159,995

Down $77,907 (-6.3%) from 2016

Net Assets

Down

-$615,441

Down $41,315 (-7.2%) from 2016

Liabilities

Down

$1,775,436

Down $36,592 (-2.0%) from 2016

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin22nd percentile

Revenue

Down

$463,862

Down $97,572 (-17%) from 2016

Expenses

Down

$505,177

Down $43,433 (-7.9%) from 2016

Net Income

Down

-$41,315

Down $54,139 (-422%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$2.0M$1.0M$0-$1.0MAssets 2010: $1,511,489Liabilities 2010: $1,893,470Net Assets 2010: -$381,9812010Assets 2011: $1,466,114Liabilities 2011: $1,889,948Net Assets 2011: -$423,8342011Assets 2012: $1,424,928Liabilities 2012: $1,863,603Net Assets 2012: -$438,6752012Assets 2013: $1,387,575Liabilities 2013: $1,850,818Net Assets 2013: -$463,2432013Assets 2014: $1,310,084Liabilities 2014: $1,844,977Net Assets 2014: -$534,8932014Assets 2015: $1,236,658Liabilities 2015: $1,823,608Net Assets 2015: -$586,9502015Assets 2016: $1,237,902Liabilities 2016: $1,812,028Net Assets 2016: -$574,1262016Assets 2017: $1,159,995Liabilities 2017: $1,775,436Net Assets 2017: -$615,4412017Assets 2018: $902,392Liabilities 2018: $1,661,077Net Assets 2018: -$758,6852018Assets 2019: $795,213Liabilities 2019: $1,696,360Net Assets 2019: -$901,1472019Assets 2020: $758,081Liabilities 2020: $1,622,202Net Assets 2020: -$864,1212020Assets 2021: $730,777Liabilities 2021: $1,619,377Net Assets 2021: -$888,6002021Assets 2022: $692,973Liabilities 2022: $1,638,780Net Assets 2022: -$945,8072022Assets 2023: $1,968,314Liabilities 2023: $0Net Assets 2023: $1,968,3142023Assets 2024: $1,987,997Liabilities 2024: $0Net Assets 2024: $1,987,9972024

Highlighted filing

2017

Assets$1,159,995
Liabilities$1,775,436
Net Assets-$615,441
Open 2017 Filing

Operations Trend

Revenue Growth14th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $461,0432010Expenses 2011: $487,5232011Expenses 2012: $458,7392012Revenue 2013: $452,342Expenses 2013: $476,910Net Income 2013: -$24,5682013Revenue 2014: $448,382Expenses 2014: $520,032Net Income 2014: -$71,6502014Revenue 2015: $451,380Expenses 2015: $503,437Net Income 2015: -$52,0572015Revenue 2016: $561,434Expenses 2016: $548,610Net Income 2016: $12,8242016Revenue 2017: $463,862Expenses 2017: $505,177Net Income 2017: -$41,3152017Revenue 2018: $459,185Expenses 2018: $602,429Net Income 2018: -$143,2442018Revenue 2019: $482,856Expenses 2019: $625,318Net Income 2019: -$142,4622019Revenue 2020: $490,452Expenses 2020: $453,426Net Income 2020: $37,0262020Revenue 2021: $431,938Expenses 2021: $456,417Net Income 2021: -$24,4792021Revenue 2022: $397,237Expenses 2022: $454,444Net Income 2022: -$57,2072022Revenue 2023: $3,032,709Expenses 2023: $118,588Net Income 2023: $2,914,1212023Revenue 2024: $19,683Expenses 2024: $0Net Income 2024: $19,6832024

Highlighted filing

2017

Revenue$463,862
Expenses$505,177
Net Income-$41,315
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 1, 2018
Return Version
2017v2.3
Gross Receipts
$463,862
Mission and Program Overview

Mission

Taxpayer operates a 58 unit apartment complex for the elderly in Kansas City, Missouri. The apartment complex is operated pursuant to Section 202 of the National Housing Act and is regulated by the U.S. Department of Housing anf Urban Development.

Taxpayer operates a 58 unit apartment complex for the elderly in Kansas City, Missouri.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$897,240$847,392▼ $49,848
Savings and Temporary Cash Investments$224,087$141,680▼ $82,407
Cash and Non-Interest-Bearing Accounts$1,098$52,554▲ $51,456
Prepaid Expenses and Deferred Charges$23,896$26,309▲ $2,413
Accounts Receivable$3,400$7,075▲ $3,675
Total Assets$1,237,902$1,159,995▼ $77,907
Other Assets Total$88,181$84,985▼ $3,196
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,727,870$1,699,367▼ $28,503
Accounts Payable and Accrued Expenses$69,899$62,512▼ $7,387
Escrow Account Liability$13,074$11,527▼ $1,547
Deferred Revenue$1,185$2,030▲ $845
Total Liabilities$1,812,028$1,775,436▼ $36,592
Net Assets / Fund Balance
Unrestricted Net Assets$-574,126$-615,441▼ $41,315
Total Net Assets Fund Balance$-574,126$-615,441▼ $41,315
Total Liabilities and Net Assets / Fund Balance$1,237,902$1,159,995▼ $77,907

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$560,750$1,279,498$1,840,248
Land$282,339-$282,339
Equipment$4,303$46,494$50,797
Other Assets Org$84,985--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Ernest GrahamChairman
Wendell JonesVice Chairman
Derrick SmithDirector
Donald MaxwellDirector
Glynnis ByersDirector
Harold WhiteDirector
James SmithDirector
Melvin GrossDirector
Rick AbelDirector
Rhonda Iverson-mcallisterSecretary
Edwynne SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$45,762
Program Service Revenue
$417,826
Investment Income
$274
Other Revenue
$0
Change in Net Assets
$-41,315

Audited Revenue Reconciliation

Revenue per Audited Statements
$463,862
Revenue Not Reported on Form 990
$3,996
Total Revenue per Audited Statements
$467,858
Total Revenue per Form 990
$463,862
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$505,177
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$80,918$8,991-$89,909
Occupancy$74,958$8,329-$83,287
Depreciation Depletion$47,739$5,305-$53,044
Other Expenses$48,162$7,597-$48,162
Fees for Services Management$14,425$14,424-$28,849
Fees for Services Accounting-$12,820-$12,820
All Other Expenses$1,216$9,369-$10,585
Insurance$6,935$771-$7,706
Office Expenses$5,401--$5,401
Conferences and Meetings-$2,278-$2,278
Advertising$1,547--$1,547
Fees for Services Legal$253--$253
Total Functional Expenses$407,237$97,940$0$505,177

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$509,173
Expenses per Audited Statements$505,177
Total Expenses per Form 990$505,177
Expenses Not Reported on Form 990$3,996
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
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization employs a management company to oversee the day-to-day rental operation and file periodic financial and management repots with regulatory agencies and the board of directors.”

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

“The tax return is prepared by the independent accounting firm that performed the financial and compliance audit of the Organizations financial statements. The preparer reviewed the Form 990 tax return with the board of directors prior to filing.”

Form 990, Part VI, Section C, Line 19

“These documents are maintained at the Organizations corporate office see mailing address and made available to requesting parties at no charge.”

Form 990, Part VI, Section B, Line 15

“The Organizaiton does not have employees. Therefore, a process to determine compensation of the positions identified in the question does not exist as it is not necessary.”

Filing and Contact Details

Filer

Filer Name
Palestine Gardens Inc
EIN
43-1259971
Phone
8169210140
Address
2627 EAST 33RD STREET, KANSAS CITY, MO 64128

Signing Officer

Name
Ernest Graham
Title
Chairman
Signed
2018-08-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wendell Jones
Formed
1988
Legal Domicile
Mo
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Welch & Associates LLC
Address
920 Main Street Suite 640, Kansas City, MO 64105
Preparer
Brian D Welch
Phone
8167562620
Supplemental Narrative

Financial Statement Notes

IV 2B

“The Organization collects security deposits from its resident tenants that are refundable/retained at the time the tenant moves out depending on any outstanding charges owed by tenant.”

X 2

“The Organization accounts for uncertain tax positions in accordance with the provision of FASB Codification Topic 740, Income Taxes. topic 740 clarifies the accounting and recognition for income tax positions taken or expected to be taken in the Organizations income tax returns. Under Topic 740, the Organization is required to report information regarding its exposure to various tax positions taken by the Organization. As of December 31, 2017 and 2016, management believes the Organizations tax status to be that of a not-for-profit entity and therefore, has made the decision to classify the Organization as tax exempt. Management has reviewed all sources of revenue and does not believe the Organization to be subject to income tax on unrelated business income. The Organization did not record any interest or penalties in the statement of operation or statement of financial position as of and during the years ended December 31 2017 and 2016. Tax returns filed for the years ended December 31, 2014 through 2016 remain subject to examination by the Internal Revenue Service.”

XI 2D

“Rent free unit provided to on-site manager is shown as an expense in the audited financial statements. In this tax return the cost of the rent free unit is shown as a reduction in rental income.”

XII 2D

“See explanation for Part XI, line 2d”

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IRS990/LandBldgEquipCostOrOtherBssAmt02173384
IRS990/LegalDomicileStateCd0MO
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Taxpayer operates a 58 unit apartment complex for the elderly in Kansas City, Missouri. The apartment complex is operated pursuant to Section 202 of the National Housing Act and is regulated by the U.S. Department of Housing and Urban Development.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01727870
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01699367
IRS990/NetAssetsOrFundBalancesBOYAmt0-574126
IRS990/NetAssetsOrFundBalancesEOYAmt0-615441
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt08329
IRS990/OccupancyGrp/ProgramServicesAmt074958
IRS990/OccupancyGrp/TotalAmt083287
IRS990/OfficeExpensesGrp/ProgramServicesAmt05401
IRS990/OfficeExpensesGrp/TotalAmt05401
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt088181
IRS990/OtherAssetsTotalGrp/EOYAmt084985
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Management company reimbursed expenses
IRS990/OtherExpensesGrp/Desc1Operating/Maintenance expenses
IRS990/OtherExpensesGrp/Desc2Service Coordinator expense
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt028056
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt17597
IRS990/OtherExpensesGrp/ProgramServicesAmt057309
IRS990/OtherExpensesGrp/ProgramServicesAmt168374
IRS990/OtherExpensesGrp/ProgramServicesAmt248162
IRS990/OtherExpensesGrp/TotalAmt085365
IRS990/OtherExpensesGrp/TotalAmt175971
IRS990/OtherExpensesGrp/TotalAmt248162
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt023896
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt026309
IRS990/PrincipalOfficerNm0Wendell Jones
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0Rental and ancillary Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0417826
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0417826
IRS990/ProgSrvcAccomActy2Grp/Desc0Taxpayer also provides various social services and activities for its residents and the surrounding community specific services/activities include 1 mobile post office, 2 guest speakers and workshops on health and nutritional issues, and 3 other cultural/educational/artistic outing and activities. Approximate numbers served are 330 per month.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt048162
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt035375
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0294
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0548610
IRS990/PYProgramServiceRevenueAmt0525765
IRS990/PYRevenuesLessExpensesAmt012824
IRS990/PYTotalExpensesAmt0548610
IRS990/PYTotalRevenueAmt0561434
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-41315
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0417826
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0224087
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0141680
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt045762
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt035375
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt037320
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt033911
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt030046
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0182414
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0274
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0294
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0313
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0351
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0358
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01590
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0417826
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0525765
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0413747
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0414120
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0421938
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02193396
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0274
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0294
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0313
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0351
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0358
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01590
IRS990ScheduleA/InvestmentIncomeCYPct00.00070
IRS990ScheduleA/InvestmentIncomePYPct00.00120
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.42800
IRS990ScheduleA/PublicSupportPY509Pct00.44070
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt01017594
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt0281972
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt0286935
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt0266441
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt0267631
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt0255237
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt01358216
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt0281972
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt0286935
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt0266441
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt0267631
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus4YearsAmt0255237
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt01358216
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0463588
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0561140
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0451067
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0448031
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0451984
IRS990ScheduleA/Total509Grp/TotalAmt02375810
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0463862
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0561434
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0451380
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0448382
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0452342
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02377400
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0560750
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01279498
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01840248
IRS990ScheduleD/EquipmentGrp/BookValueAmt04303
IRS990ScheduleD/EquipmentGrp/DepreciationAmt046494
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt050797
IRS990ScheduleD/ExpensesNotReportedAmt03996
IRS990ScheduleD/ExpensesSubtotalAmt0505177
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt0282339
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0282339
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt084985
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LOAN ORIGINATION COSTS
IRS990ScheduleD/OtherExpensesIncludedAmt03996
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherRevenueAmt03996
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueNotReportedAmt03996
IRS990ScheduleD/RevenueSubtotalAmt0463862
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization collects security deposits from its resident tenants that are refundable/retained at the time the tenant moves out depending on any outstanding charges owed by tenant.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Organization accounts for uncertain tax positions in accordance with the provision of FASB Codification Topic 740, Income Taxes. topic 740 clarifies the accounting and recognition for income tax positions taken or expected to be taken in the Organizations income tax returns. Under Topic 740, the Organization is required to report information regarding its exposure to various tax positions taken by the Organization. As of December 31, 2017 and 2016, management believes the Organizations tax status to be that of a not-for-profit entity and therefore, has made the decision to classify the Organization as tax exempt. Management has reviewed all sources of revenue and does not believe the Organization to be subject to income tax on unrelated business income. The Organization did not record any interest or penalties in the statement of operation or statement of financial position as of and during the years ended December 31 2017 and 2016. Tax returns filed for the years ended December 31, 2014 through 2016 remain subject to examination by the Internal Revenue Service.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Rent free unit provided to on-site manager is shown as an expense in the audited financial statements. In this tax return the cost of the rent free unit is shown as a reduction in rental income.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3See explanation for Part XI, line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0IV 2b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1X 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2XI 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3XII 2d
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0847392
IRS990ScheduleD/TotalBookValueOtherAssetsAmt084985
IRS990ScheduleD/TotalExpensesPerForm990Amt0505177
IRS990ScheduleD/TotalRevenuePerForm990Amt0463862
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0467858
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0509173

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,159,995
Liabilities
$1,775,436
Net assets
-$615,441
Revenue
$463,862
Expenses
$505,177
Net income
-$41,315
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.99$0.00$1.99$0.02$0.00$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.97$0.00$1.97$3.03$0.12$2.91
2022Detailed filing. Detailed filing data is available for this year.$0.69$1.64$0.95$0.40$0.45$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.73$1.62$0.89$0.43$0.46$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.76$1.62$0.86$0.49$0.45$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.80$1.70$0.90$0.48$0.63$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.90$1.66$0.76$0.46$0.60$0.14
2017Detailed filing. Detailed filing data is available for this year.$1.16$1.78$0.62$0.46$0.51$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.24$1.81$0.57$0.56$0.55$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.24$1.82$0.59$0.45$0.50$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.31$1.84$0.53$0.45$0.52$0.07
2013Detailed filing. Detailed filing data is available for this year.$1.39$1.85$0.46$0.45$0.48$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$1.86$0.44$0.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$1.89$0.42$0.49
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$1.89$0.38$0.46