Civic Intelligence

Bethel Apartments Inc

EIN 57-0536170 • 501(c)4 • Georgetown, SC

Profile

Operating a federally regulated and subsidized rental housing community for families and elderly persons with low or very low income.

PO Box 641Georgetown, SC 29442

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

88th percentile

0.53x

Higher debt load relative to assets than 88% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

95th percentile

2.88x

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

501(c)4 • $1M-$5M nonprofits • Source year 2015

Net Margin

47th percentile

6.4%

Higher net margin than 47% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

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

501(c)4 • $1M-$5M nonprofits • Source year 2015

Asset Growth

23rd percentile

-3.1%

Faster asset growth than 23% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

12th percentile

-20%

Faster revenue growth than 12% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,127,590

Down $35,927 (-3.1%) from 2014

Liabilities

Down

$600,649

Down $49,332 (-7.6%) from 2014

Net Assets

Up

$526,941

Up $13,405 (+2.6%) from 2014

Revenue

Down

$208,868

Down $52,428 (-20%) from 2014

Expenses

Down

$195,463

Down $7,482 (-3.7%) from 2014

Net Income

Down

$13,405

Down $44,946 (-77%) from 2014

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2011: $1,231,021Liabilities 2011: $838,272Net Assets 2011: $392,7492011Assets 2012: $1,142,687Liabilities 2012: $795,677Net Assets 2012: $347,0102012Assets 2013: $1,144,602Liabilities 2013: $692,362Net Assets 2013: $452,2402013Assets 2014: $1,163,517Liabilities 2014: $649,981Net Assets 2014: $513,5362014Assets 2015: $1,127,590Liabilities 2015: $600,649Net Assets 2015: $526,9412015

Highlighted filing

2015

Assets$1,127,590
Liabilities$600,649
Net Assets$526,941

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KRevenue 2011: $261,521Expenses 2011: $177,935Net Income 2011: $83,5862011Revenue 2012: $250,919Expenses 2012: $281,406Net Income 2012: -$30,4872012Revenue 2013: $262,644Expenses 2013: $178,582Net Income 2013: $84,0622013Revenue 2014: $261,296Expenses 2014: $202,945Net Income 2014: $58,3512014Revenue 2015: $208,868Expenses 2015: $195,463Net Income 2015: $13,4052015

Highlighted filing

2015

Revenue$208,868
Expenses$195,463
Net Income$13,405

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 2, 2016
Return Version
2015v2.1
Gross Receipts
$489,508
Mission and Program Overview

Mission

Operating a federally regulated and subsidized rental housing community for families and elderly persons with low or very low income.

Provide low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,087,555$1,058,501▼ $29,054
Savings and Temporary Cash Investments-$48,238-
Prepaid Expenses and Deferred Charges$6,613$10,989▲ $4,376
Cash and Non-Interest-Bearing Accounts$65,945$8,385▼ $57,560
Accounts Receivable$3,404$1,477▼ $1,927
Total Assets$1,163,517$1,127,590▼ $35,927
Liabilities
Mortgage Notes Payable Secured by Investment Property$620,973$592,000▼ $28,973
Unsecured Notes Loans Payable$14,547--
Other Liabilities$0$4,135▲ $4,135
Accounts Payable and Accrued Expenses$7,688$3,045▼ $4,643
Deferred Revenue$6,773$1,469▼ $5,304
Total Liabilities$649,981$600,649▼ $49,332
Net Assets / Fund Balance
Unrestricted Net Assets$513,536$526,941▲ $13,405
Total Net Assets Fund Balance$513,536$526,941▲ $13,405
Total Liabilities and Net Assets / Fund Balance$1,163,517$1,127,590▼ $35,927

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$344,001$454,989$798,990
Land$714,500-$714,500
Equipment$0$412,381$412,381
Compensation and Service Providers

Board Members and Trustees

NameTitle
Eric ManningChairman
Sammy CoeVice Chairman
Alma WhiteBoard Member
Clarence SmallsBoard Member
Claude BibbBoard Member
Idella G BradfordBoard Member
Jerome DevlinBoard Member
Charlesann ButtoneAsst. Secretary
Doreen G GreenSecretary
Margretta KnoxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$214,131
Program Service Revenue
$55,174
Investment Income
$0
Other Revenue
$-60,437
Change in Net Assets
$13,405
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$195,463
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
All Other Expenses$40,739$3,490-$44,229
Fees for Services Management$20,474--$20,474
Occupancy$17,213--$17,213
Office Expenses$16,599--$16,599
Insurance$10,455--$10,455
Other Expenses$10,438--$10,438
Depreciation Depletion$2,905--$2,905
Fees for Services Accounting-$1,050-$1,050
Advertising$664--$664
Fees for Services Legal-$367-$367
Total Functional Expenses$190,556$4,907$0$195,463
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$4,135
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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 directors contracted southern development management company, inc. To perform management duties.

Form 990, Part VI, Section B, Line 11

The 990 is reviewed by the board prior to signing authorization to transmit electronically.

Form 990, Part VI, Section C, Line 19

The governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Bethel Apartments Inc
EIN
57-0536170
Phone
8034630295
Address
PO BOX 641, GEORGETOWN, SC 29442

Signing Officer

Name
Sammy Coe
Title
Vice Chairman
Phone
8034630295
Signed
2016-08-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sammy Coe
Formed
2000
Legal Domicile
Sc
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
10

Preparer

Firm
Bernard Robinson & Company Llp
Address
PO BOX 19608, GREENSBORO, NC 27419-9608
Preparer
Rhonda F Skiles
Phone
3362944494
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Payroll reimbursement: program service expenses 9,498. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,498. 401(k): program service expenses 6,981. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,981. Real estate taxes: program service expenses 5,363. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,363. Other renting expenses: program service expenses 5,125. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,125. Garbage and trash removal: program service expenses 4,342. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,342. Payroll tax reimbursement: program service expenses 4,067. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,067. Miscellaneous admin expenses: program service expenses 0. Management and general expenses 3,490. Fundraising expenses 0. Total expenses 3,490. Heating/cooling repairs and maintenance: program service expenses 3,018. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,018. Office salaries reimbursement: program service expenses 2,086. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,086. Bad debt: program service expenses 259. Management and general expenses 0. Fundraising expenses 0. Total expenses 259.

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IRS990ScheduleD/LandGrp/BookValueAmt0714500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0714500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04135
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01058501
IRS990ScheduleD/TotalLiabilityAmt04135
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS CONTRACTED SOUTHERN DEVELOPMENT MANAGEMENT COMPANY, INC. TO PERFORM MANAGEMENT DUTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY THE BOARD PRIOR TO SIGNING AUTHORIZATION TO TRANSMIT ELECTRONICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PAYROLL REIMBURSEMENT: PROGRAM SERVICE EXPENSES 9,498. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,498. 401(K): PROGRAM SERVICE EXPENSES 6,981. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,981. REAL ESTATE TAXES: PROGRAM SERVICE EXPENSES 5,363. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,363. OTHER RENTING EXPENSES: PROGRAM SERVICE EXPENSES 5,125. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,125. GARBAGE AND TRASH REMOVAL: PROGRAM SERVICE EXPENSES 4,342. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,342. PAYROLL TAX REIMBURSEMENT: PROGRAM SERVICE EXPENSES 4,067. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,067. MISCELLANEOUS ADMIN EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,490. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,490. HEATING/COOLING REPAIRS AND MAINTENANCE: PROGRAM SERVICE EXPENSES 3,018. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,018. OFFICE SALARIES REIMBURSEMENT: PROGRAM SERVICE EXPENSES 2,086. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,086. BAD DEBT: PROGRAM SERVICE EXPENSES 259. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 259.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01163517
IRS990/TotalAssetsEOYAmt01127590
IRS990/TotalAssetsGrp/BOYAmt01163517
IRS990/TotalAssetsGrp/EOYAmt01127590
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0214131
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04907
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0190556
IRS990/TotalFunctionalExpensesGrp/TotalAmt0195463
IRS990/TotalGrossUBIAmt0-60437
IRS990/TotalLiabilitiesBOYAmt0649981
IRS990/TotalLiabilitiesEOYAmt0600649
IRS990/TotalLiabilitiesGrp/BOYAmt0649981
IRS990/TotalLiabilitiesGrp/EOYAmt0600649
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0513536
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0526941
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0190556
IRS990/TotalProgramServiceRevenueAmt055174
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt055174
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0208868
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-60437
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01163517
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01127590
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0513536
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0526941
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt014547
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 641
IRS990/USAddress/CityNm0GEORGETOWN
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029442
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SAMMY COE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08034630295
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BETHEL APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0BETH
ReturnHeader/Filer/EIN0570536170
ReturnHeader/Filer/PhoneNum08034630295
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 641
ReturnHeader/Filer/USAddress/CityNm0GEORGETOWN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029442
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560571159
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BERNARD ROBINSON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 19608
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENSBORO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0274199608
ReturnHeader/PreparerPersonGrp/PhoneNum03362944494
ReturnHeader/PreparerPersonGrp/PreparationDt02016-07-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RHONDA F SKILES
ReturnHeader/ReturnTs02016-08-15T09:23:56-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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