Civic Intelligence

Velkommen Inc

990 • Fiscal year 2020 • EIN 51-0162459

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

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

98th percentile

1.79x

Higher debt load relative to assets than 98% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

10.05x

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

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Net Margin

11th percentile

-30%

Higher net margin than 11% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

68th percentile

$0

Higher top officer pay than 68% of similar nonprofits.

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

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Asset Growth

18th percentile

-6.8%

Faster asset growth than 18% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

69th percentile

7.8%

Faster revenue growth than 69% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$637,870

Down $46,479 (-6.8%) from 2019

Net Assets

Down

-$506,264

Down $34,408 (-7.3%) from 2019

Liabilities

Down

$1,144,134

Down $12,071 (-1.0%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin11th percentile

Revenue

Up

$113,827

Up $8,251 (+7.8%) from 2019

Expenses

Down

$148,235

Down $7,553 (-4.8%) from 2019

Net Income

Up

-$34,408

Up $15,804 (+31%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth18th 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

2020

Assets$637,870
Liabilities$1,144,134
Net Assets-$506,264
Open 2020 Filing

Operations Trend

Revenue Growth69th 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

2020

Revenue$113,827
Expenses$148,235
Net Income-$34,408
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.0
Gross Receipts
$113,827
Mission and Program Overview

Mission

None

LOW-INCOME HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$560,914$510,144▼ $50,770
Cash and Non-Interest-Bearing Accounts$118,272$121,829▲ $3,557
Prepaid Expenses and Deferred Charges$3,038$3,726▲ $688
Accounts Receivable$2,125$2,171▲ $46
Total Assets$684,349$637,870▼ $46,479
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,137,619$1,124,376▼ $13,243
Accounts Payable and Accrued Expenses$9,929$11,480▲ $1,551
Other Liabilities$8,470$7,506▼ $964
Deferred Revenue$187$772▲ $585
Total Liabilities$1,156,205$1,144,134▼ $12,071
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-471,856$-506,264▼ $34,408
Total Net Assets Fund Balance$-471,856$-506,264▼ $34,408
Total Liabilities and Net Assets / Fund Balance$684,349$637,870▼ $46,479

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$454,606$776,646$1,231,252
Equipment$51,700$85,052$136,752
Land$3,838-$3,838
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
Liz HolmesPresident
Jim EspersonDirector
Steve EllefsonDirector
Angie GoodletSecretary
Jeanie YoungTreasurer
Randy SorensonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$39,910
Program Service Revenue
$73,885
Investment Income
$32
Other Revenue
$0
Change in Net Assets
$-34,408

Audited Revenue Reconciliation

Revenue per Audited Statements
$113,827
Total Revenue per Audited Statements
$113,827
Total Revenue per Form 990
$113,827
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$138,944
Salaries, Compensation, and Employee Benefits$9,291
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$50,770--$50,770
Occupancy$46,272--$46,272
Interest$19,995--$19,995
Fees for Services Management-$10,472-$10,472
Other Salaries and Wages$3,940$4,680-$8,620
Insurance$7,191--$7,191
Fees for Services Accounting-$4,000-$4,000
Payroll Taxes-$671-$671
Office Expenses$105$139-$244
Total Functional Expenses$128,273$19,962$0$148,235

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$148,235
Total Expenses per Audited Statements$148,235
Total Expenses per Form 990$148,235
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$7,506
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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, Page 6, Part VI, Line 3

“The board of commissioners has hired a&m services to oversee management of the rental projects.”

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

“Reviewed at board meetings”

Form 990, Page 6, Part VI, Line 19

“Governing documents are 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
2021-11-12
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
1

Preparer

Firm
Kerberrose Sc
Address
115 E 5TH ST, SHAWANO, WI 54166
Preparer
Karen Kerber CPA
Phone
7155269400
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The company is a nonprofit entity as described in section 501(c)(4) of the internal revenue code (the code) and is exempt from federal income taxes on related income pursuant to section 501 (a) of the code. The company is also exempt from state income taxes on related income. The company assesses whether it is more likely than not that a tax position will be sustained upon examination of the technical merits or the position, assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of the tax position is not recognized in the financial statements. The company recorded no assets or liabilities for uncertain tax positions or unrecognized tax benefits.”

Raw XML Appendix323 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY IS A NONPROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501 (A) OF THE CODE. THE COMPANY IS ALSO EXEMPT FROM STATE INCOME TAXES ON RELATED INCOME. THE COMPANY ASSESSES WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION OF THE TECHNICAL MERITS OR THE POSITION, ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION. IF THE TAX POSITION DOES NOT MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD, THE BENEFIT OF THE TAX POSITION IS NOT RECOGNIZED IN THE FINANCIAL STATEMENTS. THE COMPANY RECORDED NO ASSETS OR LIABILITIES FOR UNCERTAIN TAX POSITIONS OR UNRECOGNIZED TAX BENEFITS.
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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/ExplanationTxt2GOVERNING DOCUMENTS ARE ALL AVAILABLE UPON REQUEST.
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0637870
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IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt06
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LIZ HOLMES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07154785030
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VELKOMMEN INC
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ReturnHeader/Filer/PhoneNum07154785030
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 26
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0115 E 5TH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SHAWANO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd054166
ReturnHeader/PreparerPersonGrp/PhoneNum07155269400
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KAREN KERBER CPA
ReturnHeader/ReturnTs02021-11-15T16:40:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LIZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HOLMES
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$637,870
Liabilities
$1,144,134
Net assets
-$506,264
Revenue
$113,827
Expenses
$148,235
Net income
-$34,408
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
2020Detailed filing. Detailed filing data is available for this year.$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
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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. 2020 filings • 501(c)4 • $500k-$1M nonprofits