Civic Intelligence

Westover Apartments Inc.

990 • Fiscal year 2017 • EIN 57-0872448

Jan 01, 2017 to Dec 31, 2017 • Filed on May 18, 2018

4 Palmetto Park DriveCharleston, SC 29407

(803) 779-5363

Siviq Scores

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

Liabilities / Assets

94th percentile

1.10x

Higher debt load relative to assets than 94% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

95th percentile

2.57x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

63rd percentile

9.3%

Higher net margin than 63% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

46th percentile

1.9%

Faster asset growth than 46% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

49th percentile

4.2%

Faster revenue growth than 49% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Up

$545,922

Up $10,295 (+1.9%) from 2016

Net Assets

Up

-$57,210

Up $21,721 (+28%) from 2016

Liabilities

Down

$603,132

Down $11,426 (-1.9%) from 2016

Revenue

Up

$234,406

Up $9,468 (+4.2%) from 2016

Expenses

Down

$212,685

Down $7,053 (-3.2%) from 2016

Net Income

Up

$21,721

Up $16,521 (+318%) from 2016

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0-$200KAssets 2011: $593,291Liabilities 2011: $683,202Net Assets 2011: -$89,9112011Assets 2012: $579,327Liabilities 2012: $667,868Net Assets 2012: -$88,5412012Assets 2013: $565,286Liabilities 2013: $653,179Net Assets 2013: -$87,8932013Assets 2014: $570,608Liabilities 2014: $651,529Net Assets 2014: -$80,9212014Assets 2015: $547,515Liabilities 2015: $631,646Net Assets 2015: -$84,1312015Assets 2016: $535,627Liabilities 2016: $614,558Net Assets 2016: -$78,9312016Assets 2017: $545,922Liabilities 2017: $603,132Net Assets 2017: -$57,2102017Assets 2018: $539,331Liabilities 2018: $574,777Net Assets 2018: -$35,4462018Assets 2019: $558,480Liabilities 2019: $568,487Net Assets 2019: -$10,0072019Assets 2020: $562,221Liabilities 2020: $523,793Net Assets 2020: $38,4282020Assets 2021: $557,925Liabilities 2021: $509,153Net Assets 2021: $48,7722021Assets 2022: $493,566Liabilities 2022: $473,271Net Assets 2022: $20,2952022Assets 2023: $475,695Liabilities 2023: $453,830Net Assets 2023: $21,8652023Assets 2024: $440,069Liabilities 2024: $416,451Net Assets 2024: $23,6182024

Highlighted filing

2017

Assets$545,922
Liabilities$603,132
Net Assets-$57,210

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2011: $206,113Expenses 2011: $208,096Net Income 2011: -$1,9832011Revenue 2012: $212,536Expenses 2012: $211,166Net Income 2012: $1,3702012Revenue 2013: $216,774Expenses 2013: $216,126Net Income 2013: $6482013Revenue 2014: $218,936Expenses 2014: $211,962Net Income 2014: $6,9742014Revenue 2015: $214,473Expenses 2015: $217,683Net Income 2015: -$3,2102015Revenue 2016: $224,938Expenses 2016: $219,738Net Income 2016: $5,2002016Revenue 2017: $234,406Expenses 2017: $212,685Net Income 2017: $21,7212017Revenue 2018: $226,302Expenses 2018: $204,538Net Income 2018: $21,7642018Revenue 2019: $249,014Expenses 2019: $223,575Net Income 2019: $25,4392019Revenue 2020: $253,497Expenses 2020: $205,062Net Income 2020: $48,4352020Revenue 2021: $251,873Expenses 2021: $241,529Net Income 2021: $10,3442021Revenue 2022: $239,556Expenses 2022: $268,033Net Income 2022: -$28,4772022Revenue 2023: $249,271Expenses 2023: $247,701Net Income 2023: $1,5702023Revenue 2024: $249,944Expenses 2024: $248,191Net Income 2024: $1,7532024

Highlighted filing

2017

Revenue$234,406
Expenses$212,685
Net Income$21,721
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 18, 2018
Return Version
2017v2.3
Gross Receipts
$234,406
Mission and Program Overview

Mission

Provided housing for chronically mentally ill persons by operating an apartment community regulated under section 202 of the national housing act of 1959.

Providing housing for chronically mentally ill persons by operating a hud- assisted apartment community regulated under section 202 of the national housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$359,363$330,880▼ $28,483
Prepaid Expenses and Deferred Charges$13,902$13,796▼ $106
Cash and Non-Interest-Bearing Accounts$12,966$11,303▼ $1,663
Accounts Receivable$423$20▼ $403
Total Assets$535,627$545,922▲ $10,295
Other Assets Total$148,973$189,923▲ $40,950
Liabilities
Mortgage Notes Payable Secured by Investment Property$589,888$569,524▼ $20,364
Accounts Payable and Accrued Expenses$20,965$29,616▲ $8,651
Other Liabilities$3,557$3,532▼ $25
Deferred Revenue$148$460▲ $312
Total Liabilities$614,558$603,132▼ $11,426
Net Assets / Fund Balance
Unrestricted Net Assets$-78,931$-57,210▲ $21,721
Total Net Assets Fund Balance$-78,931$-57,210▲ $21,721
Total Liabilities and Net Assets / Fund Balance$535,627$545,922▲ $10,295

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$280,221$609,137$889,358
Equipment$10,399$61,280$71,679
Land$40,260-$40,260
Other Assets Org$3,665--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jeremy WilsonChair
Andrew HedgepathVice Chair
Alvin ShaverDirector
Eric BrowderDirector
Mary GreeneDirector
Joy JayExec.directo
Faye GriffithSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$223,960
Investment Income
$8,993
Other Revenue
$1,453
Change in Net Assets
$21,721

Audited Revenue Reconciliation

Revenue per Audited Statements
$234,406
Total Revenue per Audited Statements
$234,406
Total Revenue per Form 990
$234,406
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$177,870
Salaries, Compensation, and Employee Benefits$34,815
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$48,491--$48,491
Depreciation Depletion$30,152--$30,152
Other Salaries and Wages$28,749--$28,749
Insurance$13,902--$13,902
Fees for Services Management-$12,018-$12,018
Fees for Services Accounting$9,750--$9,750
Other Employee Benefits$3,708--$3,708
Office Expenses$3,388$102-$3,490
Payroll Taxes$2,358--$2,358
Information Technology-$1,626-$1,626
Fees for Service Investment Mgmnt Fees-$777-$777
Conferences and Meetings$227--$227
Travel$200--$200
Other Expenses$128--$128
Total Functional Expenses$198,162$14,523$0$212,685

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$212,685
Total Expenses per Audited Statements$212,685
Total Expenses per Form 990$212,685
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
Tenant Security Deposits$3,532
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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

Management of the apartment complex has been delegated to mental health america of south carolina

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

The return is prepared by a certified public accountant and provided to the management company for initital review and approval. The return is then provided to the board of directors for final review and commment. After resolution on any questions and comments received from the board, the return is signed by the executive director of mhasc, the management company.

Form 990, Page 6, Part VI, Line 12C

Compliance is monitored at regularly scheduled meetings of the board of directors and at other times, if needed.

Form 990, Page 6, Part VI, Line 19

Documents are maintained by the board of directors and copies are provided upon request.

Filing and Contact Details

Filer

Filer Name
Westover Apartments Inc
EIN
57-0872448
Phone
8037795363
Address
4 PALMETTO PARK DRIVE, CHARLESTON, SC 29407

Signing Officer

Name
Joy Jay
Title
Exec.director Mhasc
Phone
8037795363
Signed
2018-05-18

Organization Details

Principal Officer
Joy Jay
Formed
1987
Legal Domicile
Sc
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Dianne Baughman CPA
Address
318 BAYSIDE RD, COLUMBIA, SC 29212
Preparer
Dianne B Baughmancpa
Phone
8037323652
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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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IRS990ScheduleA/PublicSupportTotal509Amt01093602
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0225413
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0221178
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0215164
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0215127
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0216720
IRS990ScheduleA/Total509Grp/TotalAmt01093602
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0234406
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0224938
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0214473
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0218936
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0216774
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01109527
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0280221
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0609137
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0889358
IRS990ScheduleD/EquipmentGrp/BookValueAmt010399
IRS990ScheduleD/EquipmentGrp/DepreciationAmt061280
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt071679
IRS990ScheduleD/ExpensesSubtotalAmt0212685
IRS990ScheduleD/LandGrp/BookValueAmt040260
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt040260
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0151874
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt134384
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt23665
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03532
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0234406
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0330880
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0189923
IRS990ScheduleD/TotalExpensesPerForm990Amt0212685
IRS990ScheduleD/TotalLiabilityAmt03532
IRS990ScheduleD/TotalRevenuePerForm990Amt0234406
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0234406
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0212685
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT OF THE APARTMENT COMPLEX HAS BEEN DELEGATED TO MENTAL HEALTH AMERICA OF SOUTH CAROLINA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS PREPARED BY A CERTIFIED PUBLIC ACCOUNTANT AND PROVIDED TO THE MANAGEMENT COMPANY FOR INITITAL REVIEW AND APPROVAL. THE RETURN IS THEN PROVIDED TO THE BOARD OF DIRECTORS FOR FINAL REVIEW AND COMMMENT. AFTER RESOLUTION ON ANY QUESTIONS AND COMMENTS RECEIVED FROM THE BOARD, THE RETURN IS SIGNED BY THE EXECUTIVE DIRECTOR OF MHASC, THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPLIANCE IS MONITORED AT REGULARLY SCHEDULED MEETINGS OF THE BOARD OF DIRECTORS AND AT OTHER TIMES, IF NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MAINTAINED BY THE BOARD OF DIRECTORS AND COPIES ARE PROVIDED UPON REQUEST.
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 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0535627
IRS990/TotalAssetsEOYAmt0545922
IRS990/TotalAssetsGrp/BOYAmt0535627
IRS990/TotalAssetsGrp/EOYAmt0545922
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014523
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0198162
IRS990/TotalFunctionalExpensesGrp/TotalAmt0212685
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0614558
IRS990/TotalLiabilitiesEOYAmt0603132
IRS990/TotalLiabilitiesGrp/BOYAmt0614558
IRS990/TotalLiabilitiesGrp/EOYAmt0603132
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-78931
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-57210
IRS990/TotalProgramServiceExpensesAmt0198162
IRS990/TotalProgramServiceRevenueAmt0223960
IRS990/TotalRevenueGrp/ExclusionAmt08993
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0225413
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0234406
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0535627
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0545922
IRS990/TravelGrp/ProgramServicesAmt0200
IRS990/TravelGrp/TotalAmt0200
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-78931
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-57210
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01823 GADSDEN STREET
IRS990/USAddress/CityNm0COLUMBIA
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029201
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOY JAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXEC.DIRECTOR MHASC
ReturnHeader/BusinessOfficerGrp/PhoneNum08037795363
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTOVER APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0570872448
ReturnHeader/Filer/PhoneNum08037795363
ReturnHeader/Filer/USAddress/AddressLine1Txt04 PALMETTO PARK DRIVE
ReturnHeader/Filer/USAddress/CityNm0CHARLESTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029407
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0863DFBD503DC3D1C76CF6B1B1AAE3EFD1D95BC97
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0863DFBD503DC3D1C76CF6B1B1AAE3EFD1D95BC97
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt098.122.51.35
ReturnHeader/FilingSecurityInformation/IPDt02018-05-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:22:27
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570542520
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DIANNE BAUGHMAN CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0318 BAYSIDE RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029212
ReturnHeader/PreparerPersonGrp/PhoneNum08037323652
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DIANNE B BAUGHMANCPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-05-18T15:22:27-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.40$4.16$0.24$2.50$2.48$0.02
2023Detailed filing. Detailed filing data is available for this year.$4.76$4.54$0.22$2.49$2.48$0.02
2022Detailed filing. Detailed filing data is available for this year.$4.94$4.73$0.20$2.40$2.68$0.28
2021Detailed filing. Detailed filing data is available for this year.$5.58$5.09$0.49$2.52$2.42$0.10
2020Detailed filing. Detailed filing data is available for this year.$5.62$5.24$0.38$2.53$2.05$0.48
2019Detailed filing. Detailed filing data is available for this year.$5.58$5.68$0.10$2.49$2.24$0.25
2018Detailed filing. Detailed filing data is available for this year.$5.39$5.75$0.35$2.26$2.05$0.22
2017Detailed filing. Detailed filing data is available for this year.$5.46$6.03$0.57$2.34$2.13$0.22
2016Detailed filing. Detailed filing data is available for this year.$5.36$6.15$0.79$2.25$2.20$0.05
2015Detailed filing. Detailed filing data is available for this year.$5.48$6.32$0.84$2.14$2.18$0.03
2014Detailed filing. Detailed filing data is available for this year.$5.71$6.52$0.81$2.19$2.12$0.07
2013Detailed filing. Detailed filing data is available for this year.$5.65$6.53$0.88$2.17$2.16$0.01
2012Summary only. Only limited summary data is available for this year.$5.79$6.68$0.89$2.13$2.11$0.01
2011Summary only. Only limited summary data is available for this year.$5.93$6.83$0.90$2.06$2.08$0.02