Civic Intelligence

Goodwill Properties Inc

990 • Fiscal year 2017 • EIN 47-4546874

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 02, 2018

2640 Falls AvenueWaterloo, IA 50701

(319) 234-4626

Siviq Scores

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

Liabilities / Assets

85th percentile

0.66x

Higher debt load relative to assets than 85% of similar nonprofits.

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

Liabilities / Revenue

95th percentile

4.51x

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

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

Net Margin

91st percentile

49%

Higher net margin than 91% of similar nonprofits.

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

Top Officer Pay

91st percentile

$210,245

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 112.9% of source-year revenue.

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

Asset Growth

32nd percentile

-1.5%

Faster asset growth than 32% of similar nonprofits.

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

Revenue Growth

89th percentile

66%

Faster revenue growth than 89% of similar nonprofits.

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

Assets

Down

$1,270,510

Down $19,632 (-1.5%) from 2016

Net Assets

Up

$430,082

Up $91,166 (+27%) from 2016

Liabilities

Down

$840,428

Down $110,798 (-12%) from 2016

Revenue

Up

$186,271

Up $74,231 (+66%) from 2016

Expenses

Up

$95,105

Up $21,981 (+30%) from 2016

Net Income

Up

$91,166

Up $52,250 (+134%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2015: $1,296,634Liabilities 2015: $996,634Net Assets 2015: $300,0002015Assets 2016: $1,290,142Liabilities 2016: $951,226Net Assets 2016: $338,9162016Assets 2017: $1,270,510Liabilities 2017: $840,428Net Assets 2017: $430,0822017Assets 2018: $1,250,878Liabilities 2018: $725,539Net Assets 2018: $525,3392018Assets 2019: $1,231,246Liabilities 2019: $605,435Net Assets 2019: $625,8112019Assets 2020: $1,211,614Liabilities 2020: $480,732Net Assets 2020: $730,8822020Assets 2021: $1,191,982Liabilities 2021: $351,238Net Assets 2021: $840,7442021Assets 2022: $1,172,350Liabilities 2022: $215,651Net Assets 2022: $956,6992022Assets 2023: $1,152,718Liabilities 2023: $74,332Net Assets 2023: $1,078,3862023Assets 2024: $1,133,086Liabilities 2024: $0Net Assets 2024: $1,133,0862024

Highlighted filing

2017

Assets$1,270,510
Liabilities$840,428
Net Assets$430,082

Operations Trend

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

$300K$200K$100K$0Revenue 2015: $300,000Expenses 2015: $0Net Income 2015: $300,0002015Revenue 2016: $112,040Expenses 2016: $73,124Net Income 2016: $38,9162016Revenue 2017: $186,271Expenses 2017: $95,105Net Income 2017: $91,1662017Revenue 2018: $185,454Expenses 2018: $90,197Net Income 2018: $95,2572018Revenue 2019: $185,246Expenses 2019: $84,774Net Income 2019: $100,4722019Revenue 2020: $185,289Expenses 2020: $80,218Net Income 2020: $105,0712020Revenue 2021: $185,440Expenses 2021: $75,578Net Income 2021: $109,8622021Revenue 2022: $185,172Expenses 2022: $69,217Net Income 2022: $115,9552022Revenue 2023: $185,640Expenses 2023: $63,953Net Income 2023: $121,6872023Revenue 2024: $185,640Expenses 2024: $130,940Net Income 2024: $54,7002024

Highlighted filing

2017

Revenue$186,271
Expenses$95,105
Net Income$91,166
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 2, 2018
Return Version
2017v2.3
Gross Receipts
$186,271
Mission and Program Overview

Mission

To operate as a supporting organization under irc section 509(a)(3) exclusively for the benefit of goodwill industries of northeast iowa, inc., a tax-exempt entity under irc section 501(c)(3).

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,290,142$1,270,510▼ $19,632
Total Assets$1,290,142$1,270,510▼ $19,632
Liabilities
Other Liabilities$951,226$840,428▼ $110,798
Total Liabilities$951,226$840,428▼ $110,798
Net Assets / Fund Balance
Unrestricted Net Assets$338,916$430,082▲ $91,166
Total Net Assets Fund Balance$338,916$430,082▲ $91,166
Total Liabilities and Net Assets / Fund Balance$1,290,142$1,270,510▼ $19,632

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$759,160$34,356$793,516
Land$511,350-$511,350
Compensation and Service Providers

Employees

NameTitleOtherTotal
David BoydPresident/ce$210,245$210,245
Steven TisueVP, Human Re$114,294$114,294
Star RupeA I Presiden$108,991$108,991
Steven BrownVP, Finance/$108,052$108,052

Board Members and Trustees

NameTitle
Natalie BurrisChair
David BoydPresident/CEO
Lorie DavisVice Chair
Amy HoyerDirector
Bob JohnsonDirector
Bryan BurtonDirector
Elmon TatroeDirector
Jay HallDirector
Jeanne MillerDirector
Jeff SandvoldDirector
Jim OffnerDirector
Jim RaatzDirector
John TuveDirector
Keith MeschDirector
Mary ShollenbargerDirector
Mike SonesDirector
Mitzi TannDirector
Stefanie HartelDirector
Susan AbernathyDirector
Tim NiemanDirector
Sheri PurdySecretary
John VaughanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$186,271
Change in Net Assets
$91,166

Audited Revenue Reconciliation

Revenue per Audited Statements
$186,271
Revenue Not Reported on Form 990
$15,002,460
Total Revenue per Audited Statements
$15,188,731
Total Revenue per Form 990
$186,271
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$95,105
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$75,473--$75,473
Depreciation Depletion$19,632--$19,632
Total Functional Expenses$95,105$0$0$95,105

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$15,157,912
Expenses Not Reported on Form 990$15,062,807
Expenses per Audited Statements$95,105
Total Expenses per Form 990$95,105
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
(r) Note Payable-gwi$840,428
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Mitzi tann steven brown chair vp, fin/cfo aunt

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

A draft copy was provided to the president/ceo and vice president, finance/cfo for their review and approval prior to filing. A final copy of the form 990 was sent to all board members for review prior to filing.

Form 990, Page 6, Part VI, Line 12C

Board members sign a conflict of interest statement annually. The policy is monitored by including an agenda item on all board meetings asking if anyone has a conflict of interest with any of the action items incldued in the agenda.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy and financial statements are made available upon written request.

Filing and Contact Details

Filer

Filer Name
Goodwill Properties Inc
EIN
47-4546874
Phone
3192344626
Address
2640 FALLS AVENUE, WATERLOO, IA 50701

Signing Officer

Name
Star Rupe
Title
A I President/CEO
Phone
3192344626
Signed
2018-08-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Star Rupe
Formed
2015
Legal Domicile
Ia
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
21

Preparer

Firm
Hogan - Hansen Pc
Address
PO BOX 240, WATERLOO, IA 50704-0240
Preparer
Steven K Duggan CPA
Phone
3192335225
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Management annually makes an appropriate evaluation of any uncertain income tax positions based upon current statutes in completing these consolidated financial statements and the notes to the consolidated financial statements. As of december 31, 2017, management believes that there were no uncertain income tax positions for which a material change in the unrecognized effect would be reasonable possible within the next 12 months.

Schedule D, Page 4, Part XI, Line 2D

Consolidated adjustment 15,002,460

Schedule D, Page 4, Part XII, Line 2D

Consolidated adjustment 15,062,807

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21VP, HUMAN RE
IRS990/Form990PartVIISectionAGrp/TitleTxt22A I PRESIDEN
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP, FINANCE/
IRS990/Form990PartVIISectionAGrp/TitleTxt24PRESIDENT/CE
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IRS990/MissionDesc0TO OPERATE AS A SUPPORTING ORGANIZATION UNDER IRC SECTION 509(A)(3) EXCLUSIVELY FOR THE BENEFIT OF GOODWILL INDUSTRIES OF NORTHEAST IOWA, INC., A TAX-EXEMPT ENTITY UNDER IRC SECTION 501(C)(3).
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PART I, LINE 12G, ROW (A), COLUMN (VI): GOODWILL INDUSTRIES OF NORTHEAST IOWA, INC. USES THE FACILITIES OF GOODWILL PROPERTIES, INC. TO MAINTAIN A RETAIL LOCATION CONSISTING OF A BUILDING AND LAND COST OF 793,516 AND 511,350, RESPECTIVLY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SUPPLEMENTAL INFORMATION
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0GOODWILL INDUSTRIES OF NORTHEAST IOWA INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0GOODWILL INDUSTRIES OF NORTHEAST IOWA INC
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0(R) NOTE PAYABLE-GWI
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IRS990ScheduleD/RevenueNotReportedAmt015002460
IRS990ScheduleD/RevenueSubtotalAmt0186271
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT ANNUALLY MAKES AN APPROPRIATE EVALUATION OF ANY UNCERTAIN INCOME TAX POSITIONS BASED UPON CURRENT STATUTES IN COMPLETING THESE CONSOLIDATED FINANCIAL STATEMENTS AND THE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2017, MANAGEMENT BELIEVES THAT THERE WERE NO UNCERTAIN INCOME TAX POSITIONS FOR WHICH A MATERIAL CHANGE IN THE UNRECOGNIZED EFFECT WOULD BE REASONABLE POSSIBLE WITHIN THE NEXT 12 MONTHS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CONSOLIDATED ADJUSTMENT 15,002,460
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2CONSOLIDATED ADJUSTMENT 15,062,807
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalLiabilityAmt0840428
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