Civic Intelligence

Sharon Manor Homes Inc.

990 • Fiscal year 2014 • EIN 56-1404398

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 26, 2015

Organization ProfileN/A
C/O Bmc 408 Battleground AveGreensboro, NC 27401

(336) 545-9000

Siviq Scores

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

Liabilities / Assets

96th percentile

1.37x

Higher debt load relative to assets than 96% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

95th percentile

5.08x

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

45th percentile

1.2%

Higher net margin than 45% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

36th percentile

-1.3%

Faster asset growth than 36% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

46th percentile

2.4%

Faster revenue growth than 46% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$1,024,468

Down $13,686 (-1.3%) from 2013

Net Assets

Up

-$374,307

Up $3,376 (+0.9%) from 2013

Liabilities

Down

$1,398,775

Down $17,062 (-1.2%) from 2013

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin45th percentile

Revenue

Up

$275,607

Up $6,362 (+2.4%) from 2013

Expenses

Up

$272,231

Up $11,442 (+4.4%) from 2013

Net Income

Down

$3,376

Down $5,080 (-60%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2010: $1,081,150Liabilities 2010: $1,468,717Net Assets 2010: -$387,5672010Assets 2011: $1,060,072Liabilities 2011: $1,450,170Net Assets 2011: -$390,0982011Assets 2012: $1,046,612Liabilities 2012: $1,432,751Net Assets 2012: -$386,1392012Assets 2013: $1,038,154Liabilities 2013: $1,415,837Net Assets 2013: -$377,6832013Assets 2014: $1,024,468Liabilities 2014: $1,398,775Net Assets 2014: -$374,3072014Assets 2015: $1,024,626Liabilities 2015: $1,369,979Net Assets 2015: -$345,3532015Assets 2016: $1,026,550Liabilities 2016: $1,338,305Net Assets 2016: -$311,7552016Assets 2017: $1,023,661Liabilities 2017: $1,319,818Net Assets 2017: -$296,1572017Assets 2018: $1,079,350Liabilities 2018: $1,337,821Net Assets 2018: -$258,4712018Assets 2019: $1,052,828Liabilities 2019: $1,272,242Net Assets 2019: -$219,4142019Assets 2020: $1,026,958Liabilities 2020: $1,210,299Net Assets 2020: -$183,3412020Assets 2021: $1,183,525Liabilities 2021: $1,451,611Net Assets 2021: -$268,0862021Assets 2022: $1,275,725Liabilities 2022: $1,505,436Net Assets 2022: -$229,7112022Assets 2023: $1,183,428Liabilities 2023: $1,400,518Net Assets 2023: -$217,0902023Assets 2024: $1,195,918Liabilities 2024: $1,364,778Net Assets 2024: -$168,8602024

Highlighted filing

2014

Assets$1,024,468
Liabilities$1,398,775
Net Assets-$374,307
Open 2014 Filing

Operations Trend

Revenue Growth46th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $266,1802010Expenses 2011: $271,9062011Expenses 2012: $265,1852012Revenue 2013: $269,245Expenses 2013: $260,789Net Income 2013: $8,4562013Revenue 2014: $275,607Expenses 2014: $272,231Net Income 2014: $3,3762014Revenue 2015: $279,745Expenses 2015: $250,791Net Income 2015: $28,9542015Revenue 2016: $284,606Expenses 2016: $253,743Net Income 2016: $30,8632016Revenue 2017: $287,239Expenses 2017: $274,281Net Income 2017: $12,9582017Revenue 2018: $289,509Expenses 2018: $254,043Net Income 2018: $35,4662018Revenue 2019: $294,523Expenses 2019: $258,199Net Income 2019: $36,3242019Revenue 2020: $297,356Expenses 2020: $264,019Net Income 2020: $33,3372020Revenue 2021: $308,305Expenses 2021: $452,209Net Income 2021: -$143,9042021Revenue 2022: $314,053Expenses 2022: $275,678Net Income 2022: $38,3752022Revenue 2023: $318,766Expenses 2023: $306,145Net Income 2023: $12,6212023Revenue 2024: $337,917Expenses 2024: $289,687Net Income 2024: $48,2302024

Highlighted filing

2014

Revenue$275,607
Expenses$272,231
Net Income$3,376
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 26, 2015
Return Version
2014v5.0
Gross Receipts
$275,607
Mission and Program Overview

Mission

Providing federally subsidized housing for low income elderly and handicapped individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$709,510$672,518▼ $36,992
Intangible Assets$72,767$74,269▲ $1,502
Cash and Non-Interest-Bearing Accounts$14,124$13,054▼ $1,070
Savings and Temporary Cash Investments$20,301$6,732▼ $13,569
Prepaid Expenses and Deferred Charges$5,797$6,712▲ $915
Accounts Receivable$1,309$4,074▲ $2,765
Total Assets$1,038,154$1,024,468▼ $13,686
Other Assets Total$214,346$247,109▲ $32,763
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,391,103$1,370,731▼ $20,372
Other Liabilities$18,791$18,145▼ $646
Accounts Payable and Accrued Expenses$5,943$9,899▲ $3,956
Total Liabilities$1,415,837$1,398,775▼ $17,062
Net Assets / Fund Balance
Unrestricted Net Assets$-377,683$-374,307▲ $3,376
Total Net Assets Fund Balance$-377,683$-374,307▲ $3,376
Total Liabilities and Net Assets / Fund Balance$1,038,154$1,024,468▼ $13,686

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$573,335$870,040$1,443,375
Land$84,930-$84,930
Equipment$7,877$36,969$44,846
Other Land Buildings$6,376$14,928$21,304
Other Assets Org$1,015--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Dr James ThomasChair
Grace SolomonDirector
Olonda CarrDirector
Walter R NelsonDirector
Warren LasaneDirector
Rev James BrownSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$275,471
Investment Income
$136
Other Revenue
$0
Change in Net Assets
$3,376

Audited Revenue Reconciliation

Revenue per Audited Statements
$275,607
Total Revenue per Audited Statements
$275,607
Total Revenue per Form 990
$275,607
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$272,231
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$78,975--$78,975
Depreciation Depletion$42,389--$42,389
Occupancy$29,552--$29,552
All Other Expenses$23,536--$23,536
Other Expenses$17,684--$17,684
Fees for Services Accounting$7,444--$7,444
Total Functional Expenses$272,231$0$0$272,231

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$272,231
Total Expenses per Audited Statements$272,231
Total Expenses per Form 990$272,231
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 Contra$10,456
Accrued Interest$6,184
Accrued Management Fees$1,365
Prepaid Rent$140
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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 project pays a management fee equal to 7% of rent and other income collected to beacon management corporation. The project also reimburses beacon management corporation front line accounting and administrative expenses. This reimbursement amounted to 3,744 for the year ended december 31, 2014.”

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Sharon Manor Homes Inc
EIN
56-1404398
Phone
3365459000
Address
C/O BMC 408 BATTLEGROUND AVE, GREENSBORO, NC 27401

Signing Officer

Name
Dr James Thomas
Title
Chairman
Phone
3365459000
Signed
2015-10-26

Organization Details

Principal Officer
Dr James Thomas
Formed
1985
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
2

Preparer

Firm
O Douglas Covington
Address
1031 SUMMIT AVE STE 2E1, GREENSBORO, NC 27405
Preparer
O Douglas Covington
Phone
3362725618
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Income taxes: the project has been classified as an other-than private foundation and is tax-exempt under section 501(c)(3) of the internal revenue code. The project is subject to a tax on income from any unrelated business. At december 31, 2014, the project had no unrelated business income. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The project has analyzed tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. The project believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the projects financial condition, results of operations or cash flows. Accordingly, the project has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at december 31, 2014. The project is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The project believes it is no longer subject to income tax examinations for years prior to 2011.”

Raw XML Appendix344 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/OtherAssetsOrgGrp/Desc2RESIDUAL RECEIPTS ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DEPOSITS ON FURNITURE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06376
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt014928
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt021304
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010456
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt16184
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21365
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3140
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS CONTRA
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED MANAGEMENT FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PREPAID RENT
IRS990ScheduleD/RevenueSubtotalAmt0275607
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAXES: THE PROJECT HAS BEEN CLASSIFIED AS AN OTHER-THAN PRIVATE FOUNDATION AND IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PROJECT IS SUBJECT TO A TAX ON INCOME FROM ANY UNRELATED BUSINESS. AT DECEMBER 31, 2014, THE PROJECT HAD NO UNRELATED BUSINESS INCOME. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE PROJECT HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICTIONS WHERE IT OPERATES. THE PROJECT BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE PROJECTS FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE PROJECT HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2014. THE PROJECT IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE PROJECT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2011.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0672518
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0247109
IRS990ScheduleD/TotalExpensesPerForm990Amt0272231
IRS990ScheduleD/TotalLiabilityAmt018145
IRS990ScheduleD/TotalRevenuePerForm990Amt0275607
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0275607
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0272231
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PROJECT PAYS A MANAGEMENT FEE EQUAL TO 7% OF RENT AND OTHER INCOME COLLECTED TO BEACON MANAGEMENT CORPORATION. THE PROJECT ALSO REIMBURSES BEACON MANAGEMENT CORPORATION FRONT LINE ACCOUNTING AND ADMINISTRATIVE EXPENSES. THIS REIMBURSEMENT AMOUNTED TO 3,744 FOR THE YEAR ENDED DECEMBER 31, 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01038154
IRS990/TotalAssetsEOYAmt01024468
IRS990/TotalAssetsGrp/BOYAmt01038154
IRS990/TotalAssetsGrp/EOYAmt01024468
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0272231
IRS990/TotalFunctionalExpensesGrp/TotalAmt0272231
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01415837
IRS990/TotalLiabilitiesEOYAmt01398775
IRS990/TotalLiabilitiesGrp/BOYAmt01415837
IRS990/TotalLiabilitiesGrp/EOYAmt01398775
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-377683
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-374307
IRS990/TotalProgramServiceExpensesAmt0272231
IRS990/TotalProgramServiceRevenueAmt0275471
IRS990/TotalRevenueGrp/ExclusionAmt0275607
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0275607
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01038154
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01024468
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-377683
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-374307
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DR JAMES THOMAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03365459000
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SHARON MANOR HOMES INC
ReturnHeader/Filer/BusinessNameControlTxt0SHAR
ReturnHeader/Filer/EIN0561404398
ReturnHeader/Filer/PhoneNum03365459000
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O BMC 408 BATTLEGROUND AVE
ReturnHeader/Filer/USAddress/CityNm0GREENSBORO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027401
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561425237
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0O DOUGLAS COVINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01031 SUMMIT AVE STE 2E1
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENSBORO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027405
ReturnHeader/PreparerPersonGrp/PhoneNum03362725618
ReturnHeader/PreparerPersonGrp/PreparationDt02015-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0O DOUGLAS COVINGTON
ReturnHeader/ReturnTs02015-11-12T14:58:14-06:00
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
$1,024,468
Liabilities
$1,398,775
Net assets
-$374,307
Revenue
$275,607
Expenses
$272,231
Net income
$3,376
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.20$1.36$0.17$0.34$0.29$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.18$1.40$0.22$0.32$0.31$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.28$1.51$0.23$0.31$0.28$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.18$1.45$0.27$0.31$0.45$0.14
2020Detailed filing. Detailed filing data is available for this year.$1.03$1.21$0.18$0.30$0.26$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.05$1.27$0.22$0.29$0.26$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.08$1.34$0.26$0.29$0.25$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.02$1.32$0.30$0.29$0.27$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.03$1.34$0.31$0.28$0.25$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.02$1.37$0.35$0.28$0.25$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.02$1.40$0.37$0.28$0.27$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.04$1.42$0.38$0.27$0.26$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$1.43$0.39$0.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$1.45$0.39$0.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$1.47$0.39$0.27