Civic Intelligence

Midwest Housing Initiatives Inc.

990 • Fiscal year 2014 • EIN 46-0468444

Jan 01, 2014 to Dec 31, 2014 • Filed on May 25, 2015

Organization Profile
8551 Lexington AvenueLincoln, NE 68505

(402) 434-3344

Siviq Scores

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

Liabilities / Assets

45th percentile

0.15x

Higher debt load relative to assets than 45% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

84th percentile

1.35x

Higher debt load relative to revenue than 84% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

96th percentile

76%

Higher net margin than 96% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

68th percentile

8.9%

Faster asset growth than 68% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

97th percentile

188%

Faster revenue growth than 97% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$5,354,588

Up $438,160 (+8.9%) from 2013

Net Assets

Up

$4,575,590

Up $438,160 (+11%) from 2013

Liabilities

Flat

$778,998

Flat from 2013

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin96th percentile

Revenue

Up

$575,974

Up $376,252 (+188%) from 2013

Expenses

Down

$137,814

Down $35,408 (-20%) from 2013

Net Income

Up

$438,160

Up $411,660 (+1553%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$15M$10M$5.0M$0Assets 2010: $3,773,470Liabilities 2010: $282,322Net Assets 2010: $3,491,1482010Assets 2011: $4,214,883Liabilities 2011: $284,542Net Assets 2011: $3,930,3412011Assets 2012: $4,392,930Liabilities 2012: $282,000Net Assets 2012: $4,110,9302012Assets 2013: $4,916,428Liabilities 2013: $778,998Net Assets 2013: $4,137,4302013Assets 2014: $5,354,588Liabilities 2014: $778,998Net Assets 2014: $4,575,5902014Assets 2015: $5,404,121Liabilities 2015: $778,998Net Assets 2015: $4,625,1232015Assets 2016: $5,629,039Liabilities 2016: $778,998Net Assets 2016: $4,850,0412016Assets 2017: $5,892,780Liabilities 2017: $778,998Net Assets 2017: $5,113,7822017Assets 2018: $7,427,135Liabilities 2018: $2,448,561Net Assets 2018: $4,978,5742018Assets 2019: $5,877,963Liabilities 2019: $802,028Net Assets 2019: $5,075,9352019Assets 2020: $6,244,089Liabilities 2020: $1,212,373Net Assets 2020: $5,031,7162020Assets 2021: $8,670,391Liabilities 2021: $3,687,733Net Assets 2021: $4,982,6582021Assets 2022: $8,841,501Liabilities 2022: $3,926,174Net Assets 2022: $4,915,3272022Assets 2023: $10,422,478Liabilities 2023: $5,381,625Net Assets 2023: $5,040,8532023Assets 2024: $11,062,492Liabilities 2024: $5,466,965Net Assets 2024: $5,595,5272024

Highlighted filing

2014

Assets$5,354,588
Liabilities$778,998
Net Assets$4,575,590
Open 2014 Filing

Operations Trend

Revenue Growth97th percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $4,9732010Expenses 2011: $79,4332011Expenses 2012: $120,0132012Revenue 2013: $199,722Expenses 2013: $173,222Net Income 2013: $26,5002013Revenue 2014: $575,974Expenses 2014: $137,814Net Income 2014: $438,1602014Revenue 2015: $186,456Expenses 2015: $136,923Net Income 2015: $49,5332015Revenue 2016: $143,533Expenses 2016: $158,615Net Income 2016: -$15,0822016Revenue 2017: $421,108Expenses 2017: $157,367Net Income 2017: $263,7412017Revenue 2018: $706,677Expenses 2018: $841,885Net Income 2018: -$135,2082018Revenue 2019: $1,147,970Expenses 2019: $1,050,609Net Income 2019: $97,3612019Revenue 2020: $283,539Expenses 2020: $327,758Net Income 2020: -$44,2192020Revenue 2021: $1,732,566Expenses 2021: $1,781,624Net Income 2021: -$49,0582021Revenue 2022: $820,758Expenses 2022: $888,089Net Income 2022: -$67,3312022Revenue 2023: $1,959,188Expenses 2023: $1,833,662Net Income 2023: $125,5262023Revenue 2024: $1,989,925Expenses 2024: $1,428,251Net Income 2024: $561,6742024

Highlighted filing

2014

Revenue$575,974
Expenses$137,814
Net Income$438,160
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 25, 2015
Return Version
2014v5.0
Gross Receipts
$575,974
Mission and Program Overview

Mission

Help provide development of low-income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,333,676$4,674,961▲ $341,285
Cash and Non-Interest-Bearing Accounts$241,690$338,673▲ $96,983
Total Assets$4,916,428$5,354,588▲ $438,160
Other Assets Total$341,062$340,954▼ $108
Liabilities
Mortgage Notes Payable Secured by Investment Property$778,998$778,998→ $0
Total Liabilities$778,998$778,998→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$4,137,430$4,575,590▲ $438,160
Total Net Assets Fund Balance$4,137,430$4,575,590▲ $438,160
Total Liabilities and Net Assets / Fund Balance$4,916,428$5,354,588▲ $438,160

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$-801,048--
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Kurt GrosshansPresident
Beryl BoernerDirector
Dean GrahamDirector
Loren SweigardDirector
Pamela ForsterDirector
Dick BergtSec/treas
Mark GrahamVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$550,673
Investment Income
$409
Other Revenue
$24,892
Change in Net Assets
$438,160

Audited Revenue Reconciliation

Revenue per Audited Statements
$575,974
Total Revenue per Audited Statements
$575,974
Total Revenue per Form 990
$575,974
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$137,814
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
Fees for Services Other$15,000--$15,000
Advertising-$1,300-$1,300
Insurance-$1,140-$1,140
Fees for Services Accounting-$820-$820
Office Expenses$146--$146
Other Expenses$119,356$52-$52
Total Functional Expenses$134,502$3,312$0$137,814

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$137,814
Total Expenses per Audited Statements$137,814
Total Expenses per Form 990$137,814
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No

Governance Explanations

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

“The board chair and excel development group review the form 990 prior to submission.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Midwest Housing Initiatives Inc
EIN
46-0468444
Phone
4024343344
Address
8551 LEXINGTON AVENUE, LINCOLN, NE 68505

Signing Officer

Name
Kurt Grosshans
Title
President
Phone
4024343344
Signed
2015-05-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kurt Grosshans
Formed
2002
Legal Domicile
Ne
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Kruse Schumacher Smejkal Brockhaus Pc
Address
508 WEST PROSPECT AVENUE, NORFOLK, NE 68701
Preparer
Brock Herley
Phone
4023792722
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Supportive services 15,000 0 0”

Raw XML Appendix350 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD CHAIR AND EXCEL DEVELOPMENT GROUP REVIEW THE FORM 990 PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SUPPORTIVE SERVICES 15,000 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04916428
IRS990/TotalAssetsEOYAmt05354588
IRS990/TotalAssetsGrp/BOYAmt04916428
IRS990/TotalAssetsGrp/EOYAmt05354588
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03312
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0134502
IRS990/TotalFunctionalExpensesGrp/TotalAmt0137814
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0778998
IRS990/TotalLiabilitiesEOYAmt0778998
IRS990/TotalLiabilitiesGrp/BOYAmt0778998
IRS990/TotalLiabilitiesGrp/EOYAmt0778998
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04137430
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IRS990/TotalProgramServiceExpensesAmt0134502
IRS990/TotalProgramServiceRevenueAmt0550673
IRS990/TotalRevenueGrp/ExclusionAmt0-108
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0576082
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0575974
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04916428
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05354588
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt04137430
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08551 LEXINGTON AVENUE
IRS990/USAddress/CityNm0LINCOLN
IRS990/USAddress/StateAbbreviationCd0NE
IRS990/USAddress/ZIPCd068505
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IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KURT GROSSHANS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04024343344
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDWEST HOUSING INITIATIVES INC
ReturnHeader/Filer/BusinessNameControlTxt0MIDW
ReturnHeader/Filer/EIN0460468444
ReturnHeader/Filer/PhoneNum04024343344
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470552214
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KRUSE SCHUMACHER SMEJKAL BROCKHAUS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0508 WEST PROSPECT AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd068701
ReturnHeader/PreparerPersonGrp/PhoneNum04023792722
ReturnHeader/PreparerPersonGrp/PreparationDt02015-07-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BROCK HERLEY
ReturnHeader/ReturnTs02015-07-13T08:54:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,354,588
Liabilities
$778,998
Net assets
$4,575,590
Revenue
$575,974
Expenses
$137,814
Net income
$438,160
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$5.47$5.60$1.99$1.43$0.56
2023Detailed filing. Detailed filing data is available for this year.$10.4$5.38$5.04$1.96$1.83$0.13
2022Detailed filing. Detailed filing data is available for this year.$8.84$3.93$4.92$0.82$0.89$0.07
2021Detailed filing. Detailed filing data is available for this year.$8.67$3.69$4.98$1.73$1.78$0.05
2020Detailed filing. Detailed filing data is available for this year.$6.24$1.21$5.03$0.28$0.33$0.04
2019Detailed filing. Detailed filing data is available for this year.$5.88$0.80$5.08$1.15$1.05$0.10
2018Detailed filing. Detailed filing data is available for this year.$7.43$2.45$4.98$0.71$0.84$0.14
2017Detailed filing. Detailed filing data is available for this year.$5.89$0.78$5.11$0.42$0.16$0.26
2016Detailed filing. Detailed filing data is available for this year.$5.63$0.78$4.85$0.14$0.16$0.02
2015Detailed filing. Detailed filing data is available for this year.$5.40$0.78$4.63$0.19$0.14$0.05
2014Detailed filing. Detailed filing data is available for this year.$5.35$0.78$4.58$0.58$0.14$0.44
2013Detailed filing. Detailed filing data is available for this year.$4.92$0.78$4.14$0.20$0.17$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.39$0.28$4.11$0.12
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.21$0.28$3.93$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.77$0.28$3.49$0.00