Civic Intelligence

Velkommen Inc

990 • Fiscal year 2016 • EIN 51-0162459

Jan 01, 2016 to Dec 31, 2016 • Filed on Sep 28, 2017

Organization ProfileN/A
PO Box 26Crandon, WI 54520

(715) 478-5030

Siviq Scores

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

Liabilities / Assets

97th percentile

1.44x

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

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

9.49x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Net Margin

11th percentile

-24%

Higher net margin than 11% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

67th percentile

$0

Higher top officer pay than 67% of similar nonprofits.

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

2016 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2016

Asset Growth

80th percentile

14%

Faster asset growth than 80% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

62nd percentile

6.7%

Faster revenue growth than 62% of similar nonprofits.

2016 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$740,198

Up $88,167 (+14%) from 2015

Net Assets

Down

-$329,059

Down $41,532 (-14%) from 2015

Liabilities

Up

$1,069,257

Up $129,699 (+14%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin11th percentile

Revenue

Up

$112,680

Up $7,057 (+6.7%) from 2015

Expenses

Up

$139,371

Up $37,853 (+37%) from 2015

Net Income

Down

-$26,691

Down $30,796 (-750%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2011: $506,049Liabilities 2011: $780,102Net Assets 2011: -$274,0532011Assets 2012: $513,462Liabilities 2012: $773,168Net Assets 2012: -$259,7062012Assets 2013: $526,258Liabilities 2013: $772,674Net Assets 2013: -$246,4162013Assets 2014: $507,102Liabilities 2014: $798,734Net Assets 2014: -$291,6322014Assets 2015: $652,031Liabilities 2015: $939,558Net Assets 2015: -$287,5272015Assets 2016: $740,198Liabilities 2016: $1,069,257Net Assets 2016: -$329,0592016Assets 2017: $813,509Liabilities 2017: $1,184,106Net Assets 2017: -$370,5972017Assets 2018: $756,706Liabilities 2018: $1,177,392Net Assets 2018: -$420,6862018Assets 2019: $684,349Liabilities 2019: $1,156,205Net Assets 2019: -$471,8562019Assets 2020: $637,870Liabilities 2020: $1,144,134Net Assets 2020: -$506,2642020Assets 2021: $591,392Liabilities 2021: $1,141,502Net Assets 2021: -$550,1102021Assets 2022: $538,875Liabilities 2022: $1,126,654Net Assets 2022: -$587,7792022Assets 2023: $570,479Liabilities 2023: $1,125,684Net Assets 2023: -$555,2052023Assets 2024: $448,580Liabilities 2024: $1,113,505Net Assets 2024: -$664,9252024

Highlighted filing

2016

Assets$740,198
Liabilities$1,069,257
Net Assets-$329,059
Open 2016 Filing

Operations Trend

Revenue Growth62nd percentile

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

$200K$100K$0-$100KRevenue 2011: $94,001Expenses 2011: $109,364Net Income 2011: -$15,3632011Revenue 2012: $110,532Expenses 2012: $96,185Net Income 2012: $14,3472012Revenue 2013: $106,274Expenses 2013: $92,984Net Income 2013: $13,2902013Revenue 2014: $107,675Expenses 2014: $152,891Net Income 2014: -$45,2162014Revenue 2015: $105,623Expenses 2015: $101,518Net Income 2015: $4,1052015Revenue 2016: $112,680Expenses 2016: $139,371Net Income 2016: -$26,6912016Revenue 2017: $118,283Expenses 2017: $159,821Net Income 2017: -$41,5382017Revenue 2018: $96,769Expenses 2018: $155,750Net Income 2018: -$58,9812018Revenue 2019: $105,576Expenses 2019: $155,788Net Income 2019: -$50,2122019Revenue 2020: $113,827Expenses 2020: $148,235Net Income 2020: -$34,4082020Revenue 2021: $104,641Expenses 2021: $148,487Net Income 2021: -$43,8462021Revenue 2022: $117,326Expenses 2022: $154,994Net Income 2022: -$37,6682022Revenue 2023: $128,181Expenses 2023: $165,773Net Income 2023: -$37,5922023Revenue 2024: $104,875Expenses 2024: $139,986Net Income 2024: -$35,1112024

Highlighted filing

2016

Revenue$112,680
Expenses$139,371
Net Income-$26,691
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Sep 28, 2017
Return Version
2016v3.0
Gross Receipts
$112,680
Mission and Program Overview

Mission

None

Low-income housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$444,723$683,685▲ $238,962
Cash and Non-Interest-Bearing Accounts$42,402$53,178▲ $10,776
Prepaid Expenses and Deferred Charges$0$3,335▲ $3,335
Total Assets$652,031$740,198▲ $88,167
Other Assets Total$164,906$0▼ $164,906
Liabilities
Mortgage Notes Payable Secured by Investment Property$932,431$1,052,518▲ $120,087
Accounts Payable and Accrued Expenses$7,127$16,739▲ $9,612
Total Liabilities$939,558$1,069,257▲ $129,699
Net Assets / Fund Balance
Unrestricted Net Assets$-287,527$-329,059▼ $41,532
Total Net Assets Fund Balance$-287,527$-329,059▼ $41,532
Total Liabilities and Net Assets / Fund Balance$652,031$740,198▲ $88,167

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$587,876$629,855$1,217,731
Equipment$91,971$29,173$121,144
Land$3,838-$3,838
Compensation and Service Providers
Top Officer Pay67th percentile

Board Members and Trustees

NameTitle
Liz HolmesPresident
Randy SorensonVice President
Jim EspersonDirector
Steve EllofsonDirector
Angie GoodlentSecretary
Jeanie YoungTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,313
Program Service Revenue
$101,327
Investment Income
$40
Other Revenue
$0
Change in Net Assets
$-26,691

Audited Revenue Reconciliation

Revenue per Audited Statements
$112,680
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$112,680
Total Revenue per Form 990
$112,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$139,371
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
Occupancy$46,609--$46,609
Depreciation Depletion$45,214--$45,214
Interest$28,240--$28,240
Fees for Services Management-$13,696-$13,696
Insurance$3,102--$3,102
Office Expenses-$1,860-$1,860
Fees for Services Accounting-$650-$650
Total Functional Expenses$123,165$16,206$0$139,371

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$139,371
Total Expenses per Audited Statements$139,371
Total Expenses per Form 990$139,371
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
Subject to proxy tax
No
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 Board of Commissioners has hired A&M Services to oversee management of the rental projects.”

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

“Reviewed at board meetings.”

Form 990, Part VI, Section C, line 19

“All available upon request”

Filing and Contact Details

Filer

Filer Name
Velkommen Inc
EIN
51-0162459
Phone
7154785030
Address
PO Box 26, Crandon, WI 54520

Signing Officer

Name
Liz Holmes
Title
President
Phone
7154785030
Signed
2017-09-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Liz Holmes
Formed
1992
Legal Domicile
Wi
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Wipfli LLP
Address
43A W Davenport Street, Rhinelander, WI 54501
Preparer
Randall H Beard CPA
Phone
7153691040
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1:

“change in accounting method to coincide with first year of independently audited financial statements”

Form 990, Part XII, Line 2C:

“First year for audit”

Form 990, Part XI, Line 8

“Prior period adjustment to remove improper capitalization of interest.”

Raw XML Appendix335 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 of Commissioners has hired A&M Services to oversee management of the rental projects.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Reviewed at board meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All available upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3change in accounting method to coincide with first year of independently audited financial statements
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4First year for audit
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Prior period adjustment to remove improper capitalization of interest.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 8
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0740198
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-287527
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-329059
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Liz Holmes
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum07154785030
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-09-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Velkommen Inc
ReturnHeader/Filer/BusinessNameControlTxt0VELK
ReturnHeader/Filer/EIN0510162459
ReturnHeader/Filer/PhoneNum07154785030
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 26
ReturnHeader/Filer/USAddress/CityNm0Crandon
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd054520
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0089FC655EEE9BBC5B733F4BCBB8872CC47B78694
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0BC1DFF89529301D3C5CF8B499D6EA06531900414
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0216.54.158.12
ReturnHeader/FilingSecurityInformation/IPDt02017-09-28
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm015:15:37
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390758449
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Wipfli LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt043A W Davenport Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Rhinelander
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd054501
ReturnHeader/PreparerPersonGrp/PhoneNum07153691040
ReturnHeader/PreparerPersonGrp/PreparationDt02017-09-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RANDALL H BEARD CPA
ReturnHeader/ReturnTs02017-10-04T10:30:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$740,198
Liabilities
$1,069,257
Net assets
-$329,059
Revenue
$112,680
Expenses
$139,371
Net income
-$26,691
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.45$1.11$0.66$0.10$0.14$0.04
2023Summary only. Only limited summary data is available for this year.$0.57$1.13$0.56$0.13$0.17$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$1.13$0.59$0.12$0.15$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$1.14$0.55$0.10$0.15$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$1.14$0.51$0.11$0.15$0.03
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$1.16$0.47$0.11$0.16$0.05
2018Summary only. Only limited summary data is available for this year.$0.76$1.18$0.42$0.10$0.16$0.06
2017Summary only. Only limited summary data is available for this year.$0.81$1.18$0.37$0.12$0.16$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.74$1.07$0.33$0.11$0.14$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.65$0.94$0.29$0.11$0.10$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.51$0.80$0.29$0.11$0.15$0.05
2013Summary only. Only limited summary data is available for this year.$0.53$0.77$0.25$0.11$0.09$0.01
2012Summary only. Only limited summary data is available for this year.$0.51$0.77$0.26$0.11$0.10$0.01
2011Summary only. Only limited summary data is available for this year.$0.51$0.78$0.27$0.09$0.11$0.02
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)4 • $500k-$1M nonprofits