Civic Intelligence

Sommerset Place

990 • Fiscal year 2022 • EIN 48-0797672

Jun 01, 2021 to May 31, 2022 • Filed on Nov 29, 2022

Organization Profilewww.sommersetplace.new
PO Box 247Auburn, KS 66402

(785) 272-0965

Siviq Scores

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

Liabilities / Assets

91st percentile

0.63x

Higher debt load relative to assets than 91% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

92nd percentile

0.58x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

32nd percentile

-5.0%

Higher net margin than 32% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

35th percentile

-7.2%

Faster asset growth than 35% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2022

Revenue Growth

48th percentile

7.2%

Faster revenue growth than 48% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2022

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$324,373

Down $52,334 (-14%) from 2020

Net Assets

Up

$118,754

Up $7,537 (+6.8%) from 2020

Liabilities

Down

$205,619

Down $59,871 (-23%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin32nd percentile

Revenue

Up

$354,303

Up $45,862 (+15%) from 2020

Expenses

Up

$371,866

Up $67,193 (+22%) from 2020

Net Income

Down

-$17,563

Down $21,331 (-566%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$800K$600K$400K$200K$0Assets 2011: $212,572Liabilities 2011: $188,209Net Assets 2011: $24,3632011Assets 2012: $192,682Liabilities 2012: $124,526Net Assets 2012: $68,1562012Assets 2013: $156,867Liabilities 2013: $65,230Net Assets 2013: $91,6372013Assets 2014: $144,557Liabilities 2014: $44,325Net Assets 2014: $100,2322014Assets 2015: $189,045Liabilities 2015: $38,048Net Assets 2015: $150,9972015Assets 2016: $194,885Liabilities 2016: $38,218Net Assets 2016: $156,6672016Assets 2017: $186,860Liabilities 2017: $34,517Net Assets 2017: $152,3432017Assets 2018: $240,770Liabilities 2018: $100,042Net Assets 2018: $140,7282018Assets 2019: $400,885Liabilities 2019: $293,436Net Assets 2019: $107,4492019Assets 2020: $376,707Liabilities 2020: $265,490Net Assets 2020: $111,2172020Assets 2022: $324,373Liabilities 2022: $205,619Net Assets 2022: $118,7542022Assets 2023: $314,242Liabilities 2023: $174,058Net Assets 2023: $140,1842023Assets 2024: $680,429Liabilities 2024: $197,886Net Assets 2024: $482,5432024

Highlighted filing

2022

Assets$324,373
Liabilities$205,619
Net Assets$118,754
Open 2022 Filing

Operations Trend

Revenue Growth48th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2011: $306,2872011Expenses 2012: $318,1172012Revenue 2013: $362,492Expenses 2013: $339,011Net Income 2013: $23,4812013Revenue 2014: $334,627Expenses 2014: $326,032Net Income 2014: $8,5952014Revenue 2015: $335,008Expenses 2015: $291,693Net Income 2015: $43,3152015Revenue 2016: $318,639Expenses 2016: $312,969Net Income 2016: $5,6702016Revenue 2017: $303,442Expenses 2017: $310,965Net Income 2017: -$7,5232017Revenue 2018: $307,909Expenses 2018: $319,524Net Income 2018: -$11,6152018Revenue 2019: $306,640Expenses 2019: $339,919Net Income 2019: -$33,2792019Revenue 2020: $308,441Expenses 2020: $304,673Net Income 2020: $3,7682020Revenue 2022: $354,303Expenses 2022: $371,866Net Income 2022: -$17,5632022Revenue 2023: $373,195Expenses 2023: $351,765Net Income 2023: $21,4302023Revenue 2024: $737,726Expenses 2024: $395,367Net Income 2024: $342,3592024

Highlighted filing

2022

Revenue$354,303
Expenses$371,866
Net Income-$17,563
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Nov 29, 2022
Return Version
2021v4.2
Gross Receipts
$354,303
Mission and Program Overview

Mission

To provide mulitfamily low income housing

To provide multifamily low income housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$332,560$306,506▼ $26,054
Cap Stk Tr Prin Current Funds$136,317$118,754▼ $17,563
Prepaid Expenses and Deferred Charges$9,984$19,689▲ $9,705
Savings and Temporary Cash Investments$9,815$683▼ $9,132
Accounts Receivable$147$21▼ $126
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cash and Non-Interest-Bearing Accounts$10,541$-2,526▼ $13,067
Total Assets$363,047$324,373▼ $38,674
Liabilities
Mortgage Notes Payable Secured by Investment Property$175,134$155,820▼ $19,314
Other Liabilities$31,753$28,680▼ $3,073
Accounts Payable and Accrued Expenses$10,028$21,119▲ $11,091
Unsecured Notes Loans Payable$9,815$0▼ $9,815
Total Liabilities$226,730$205,619▼ $21,111
Net Assets / Fund Balance
Total Net Assets Fund Balance$136,317$118,754▼ $17,563
Total Liabilities and Net Assets / Fund Balance$363,047$324,373▼ $38,674

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$306,506$1,293,496$1,600,002
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Paula BrozekPresident
Jeff KellerVice President
Jerry EsfieldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,815
Program Service Revenue
$344,484
Investment Income
$4
Other Revenue
$0
Change in Net Assets
$-17,563

Audited Revenue Reconciliation

Revenue per Audited Statements
$354,303
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$354,303
Total Revenue per Form 990
$354,303
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$321,010
Salaries, Compensation, and Employee Benefits$50,856
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$45,761--$45,761
Insurance$32,227--$32,227
Depreciation Depletion$29,168--$29,168
Fees for Services Management-$22,248-$22,248
Fees for Services Accounting-$15,558-$15,558
Interest$9,805--$9,805
Other Employee Benefits$5,095--$5,095
Office Expenses-$2,285-$2,285
Other Expenses$36,141$1,773-$1,773
All Other Expenses$1,416--$1,416
Advertising-$513-$513
Total Functional Expenses$329,489$42,377$0$371,866

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$371,866
Total Expenses per Audited Statements$371,866
Total Expenses per Form 990$371,866
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$28,020
Accured Payroll Taxes$660
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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 has delegated highland management, llc to provide property management.”

Form 990, Part VI, Section A, line 8B

“The organization has no committees with authority to act on behalf of the governing body.”

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

“The board will review the 990 prior to filing.”

Form 990, Part VI, Section C, line 19

“No other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Sommerset Place
EIN
48-0797672
Phone
7852720965
Address
PO Box 247, Auburn, KS 66402

Signing Officer

Name
Paula Brozek
Title
President
Phone
7852720965
Signed
2022-11-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paula Brozek
Formed
1972
Legal Domicile
Ks
Voting Board Members
3
Independent Board Members
3
Employees
1
Volunteers
0

Preparer

Firm
Kennedy McKee & Company LLP
Address
PO Box 1477, Dodge City, KS 67801-1477
Preparer
John Hendrickson
Phone
6202273135
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“The Organization is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. In addition, the Organization qualifies for the charitable deduction under Section 170(b)(1)(A) and has been classified as an organization other than a private foundation under Section 509(a)(2). The Organization believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The Organization is no longer subject to examinations by tax authorities for years before 2020. No authorities have commenced examinations as of May 31, 2022.”

Raw XML Appendix389 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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0306506
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01293496
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01600002
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0371866
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0660
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt128020
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCURED PAYROLL TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0354303
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. In addition, the Organization qualifies for the charitable deduction under Section 170(b)(1)(A) and has been classified as an organization other than a private foundation under Section 509(a)(2). The Organization believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The Organization is no longer subject to examinations by tax authorities for years before 2020. No authorities have commenced examinations as of May 31, 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0306506
IRS990ScheduleD/TotalExpensesPerForm990Amt0371866
IRS990ScheduleD/TotalLiabilityAmt028680
IRS990ScheduleD/TotalRevenuePerForm990Amt0354303
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0354303
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0371866
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS DELEGATED HIGHLAND MANAGEMENT, LLC TO PROVIDE PROPERTY MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD WILL REVIEW THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0363047
IRS990/TotalAssetsEOYAmt0324373
IRS990/TotalAssetsGrp/BOYAmt0363047
IRS990/TotalAssetsGrp/EOYAmt0324373
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt09815
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042377
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0329489
IRS990/TotalFunctionalExpensesGrp/TotalAmt0371866
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0226730
IRS990/TotalLiabilitiesEOYAmt0205619
IRS990/TotalLiabilitiesGrp/BOYAmt0226730
IRS990/TotalLiabilitiesGrp/EOYAmt0205619
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0136317
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0118754
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0329489
IRS990/TotalProgramServiceRevenueAmt0344484
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt04
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0344484
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0354303
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0363047
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0324373
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt09815
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 247
IRS990/USAddress/CityNm0Auburn
IRS990/USAddress/StateAbbreviationCd0KS
IRS990/USAddress/ZIPCd066402
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.sommersetplace.new
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PAULA BROZEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07852720965
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Sommerset Place
ReturnHeader/Filer/BusinessNameControlTxt0SOMM
ReturnHeader/Filer/EIN0480797672
ReturnHeader/Filer/PhoneNum07852720965
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 247
ReturnHeader/Filer/USAddress/CityNm0Auburn
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KS
ReturnHeader/Filer/USAddress/ZIPCd066402
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0480997992
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Kennedy McKee & Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 1477
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Dodge City
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0678011477
ReturnHeader/PreparerPersonGrp/PhoneNum06202273135
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0John Hendrickson
ReturnHeader/ReturnTs02023-01-12T16:00:10-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PAULA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BROZEK
ReturnHeader/TaxPeriodBeginDt02021-06-01
ReturnHeader/TaxPeriodEndDt02022-05-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$324,373
Liabilities
$205,619
Net assets
$118,754
Revenue
$354,303
Expenses
$371,866
Net income
-$17,563
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.80$1.98$4.83$7.38$3.95$3.42
2023Detailed filing. Detailed filing data is available for this year.$3.14$1.74$1.40$3.73$3.52$0.21
2022Detailed filing. Detailed filing data is available for this year.$3.24$2.06$1.19$3.54$3.72$0.18
2020Detailed filing. Detailed filing data is available for this year.$3.77$2.65$1.11$3.08$3.05$0.04
2019Detailed filing. Detailed filing data is available for this year.$4.01$2.93$1.07$3.07$3.40$0.33
2018Detailed filing. Detailed filing data is available for this year.$2.41$1.00$1.41$3.08$3.20$0.12
2017Detailed filing. Detailed filing data is available for this year.$1.87$0.35$1.52$3.03$3.11$0.08
2016Detailed filing. Detailed filing data is available for this year.$1.95$0.38$1.57$3.19$3.13$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.89$0.38$1.51$3.35$2.92$0.43
2014Detailed filing. Detailed filing data is available for this year.$1.45$0.44$1.00$3.35$3.26$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$0.65$0.92$3.62$3.39$0.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$1.25$0.68$3.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$1.88$0.24$3.06