Civic Intelligence

Ware Terrace Incorporated

990 • Fiscal year 2016 • EIN 58-1521907

Nov 01, 2015 to Oct 31, 2016 • Filed on Jan 26, 2017

Organization Profile
P O Box 1965Waycross, GA 31501

(912) 283-8778

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.58x

Higher debt load relative to assets than 82% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

88th percentile

1.55x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

85th percentile

27%

Higher net margin than 85% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

66th percentile

6.5%

Faster asset growth than 66% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

32nd percentile

-4.2%

Faster revenue growth than 32% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$1,195,812

Up $73,398 (+6.5%) from 2015

Net Assets

Up

$501,381

Up $122,883 (+32%) from 2015

Liabilities

Down

$694,431

Down $49,485 (-6.7%) from 2015

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin85th percentile

Revenue

Down

$447,332

Down $19,488 (-4.2%) from 2015

Expenses

Down

$324,449

Down $6,399 (-1.9%) from 2015

Net Income

Down

$122,883

Down $13,089 (-9.6%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2011: $720,311Liabilities 2011: $874,701Net Assets 2011: -$154,3902011Assets 2012: $805,021Liabilities 2012: $843,876Net Assets 2012: -$38,8552012Assets 2013: $905,488Liabilities 2013: $805,533Net Assets 2013: $99,9552013Assets 2014: $1,015,295Liabilities 2014: $772,769Net Assets 2014: $242,5262014Assets 2015: $1,122,414Liabilities 2015: $743,916Net Assets 2015: $378,4982015Assets 2016: $1,195,812Liabilities 2016: $694,431Net Assets 2016: $501,3812016Assets 2017: $1,267,406Liabilities 2017: $659,479Net Assets 2017: $607,9272017Assets 2018: $1,298,148Liabilities 2018: $611,734Net Assets 2018: $686,4142018Assets 2019: $1,399,127Liabilities 2019: $563,535Net Assets 2019: $835,5922019Assets 2020: $1,468,272Liabilities 2020: $497,352Net Assets 2020: $970,9202020Assets 2021: $1,533,019Liabilities 2021: $440,790Net Assets 2021: $1,092,2292021Assets 2022: $1,540,069Liabilities 2022: $381,318Net Assets 2022: $1,158,7512022Assets 2023: $1,529,665Liabilities 2023: $301,176Net Assets 2023: $1,228,4892023Assets 2024: $1,514,195Liabilities 2024: $211,019Net Assets 2024: $1,303,1762024Assets 2025: $1,479,936Liabilities 2025: $127,279Net Assets 2025: $1,352,6572025

Highlighted filing

2016

Assets$1,195,812
Liabilities$694,431
Net Assets$501,381
Open 2016 Filing

Operations Trend

Revenue Growth32nd percentile

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

$600K$400K$200K$0Expenses 2011: $360,9162011Expenses 2012: $339,8472012Expenses 2013: $318,2802013Revenue 2014: $465,859Expenses 2014: $323,288Net Income 2014: $142,5712014Revenue 2015: $466,820Expenses 2015: $330,848Net Income 2015: $135,9722015Revenue 2016: $447,332Expenses 2016: $324,449Net Income 2016: $122,8832016Revenue 2017: $394,351Expenses 2017: $287,805Net Income 2017: $106,5462017Revenue 2018: $369,669Expenses 2018: $291,182Net Income 2018: $78,4872018Revenue 2019: $436,558Expenses 2019: $287,380Net Income 2019: $149,1782019Revenue 2020: $416,143Expenses 2020: $280,815Net Income 2020: $135,3282020Revenue 2021: $390,021Expenses 2021: $268,712Net Income 2021: $121,3092021Revenue 2022: $314,856Expenses 2022: $248,334Net Income 2022: $66,5222022Revenue 2023: $297,387Expenses 2023: $227,649Net Income 2023: $69,7382023Revenue 2024: $307,809Expenses 2024: $233,122Net Income 2024: $74,6872024Revenue 2025: $306,296Expenses 2025: $256,815Net Income 2025: $49,4812025

Highlighted filing

2016

Revenue$447,332
Expenses$324,449
Net Income$122,883
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2015 to Oct 31, 2016
Signed
Jan 26, 2017
Return Version
2015v3.0
Gross Receipts
$447,332
Mission and Program Overview

Mission

The purpose of this organization was to construct and operate an apartment complex of 40 units under section 8 of the national housing act. Such projects are regulated by hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$828,391$934,197▲ $105,806
Land, Buildings, and Equipment, Net$280,496$236,028▼ $44,468
Cash and Non-Interest-Bearing Accounts$6,096$24,042▲ $17,946
Prepaid Expenses and Deferred Charges$7,431--
Accounts Receivable-$1,545-
Total Assets$1,122,414$1,195,812▲ $73,398
Liabilities
Mortgage Notes Payable Secured by Investment Property$701,412$661,900▼ $39,512
Accounts Payable and Accrued Expenses$34,442$23,642▼ $10,800
Other Liabilities$8,062$8,889▲ $827
Total Liabilities$743,916$694,431▼ $49,485
Net Assets / Fund Balance
Unrestricted Net Assets$378,498$501,381▲ $122,883
Total Net Assets Fund Balance$378,498$501,381▲ $122,883
Total Liabilities and Net Assets / Fund Balance$1,122,414$1,195,812▲ $73,398

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$31,100$1,092,888$1,123,988
Equipment$133,573$166,048$299,621
Land$71,355-$71,355
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
C BillupsPresident
S BurdenSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$443,295
Investment Income
$4,037
Other Revenue
$0
Change in Net Assets
$122,883

Audited Revenue Reconciliation

Revenue per Audited Statements
$447,332
Total Revenue per Audited Statements
$447,332
Total Revenue per Form 990
$447,332
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$293,189
Salaries, Compensation, and Employee Benefits$31,260
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$126,885--$126,885
Interest$62,929--$62,929
Depreciation Depletion$54,910--$54,910
Other Salaries and Wages$28,308--$28,308
Fees for Services Management$21,157--$21,157
Office Expenses$11,025--$11,025
Fees for Services Accounting$8,852--$8,852
Insurance$7,431--$7,431
Payroll Taxes$2,952--$2,952
Total Functional Expenses$324,449$0$0$324,449

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$324,449
Total Expenses per Audited Statements$324,449
Total Expenses per Form 990$324,449
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$8,889
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
No

Governance Explanations

Form 990 governing body review Part VI line 11

“At a call board meeting the 990 return is presented by the cpa preparer and answers any questions of the board.”

Governing documents etc available to public Part VI line 19

“There have been no request for any documents during the current taxable year.”

Filing and Contact Details

Filer

Filer Name
Ware Terrace Inc
EIN
58-1521907
Address
P O BOX 1965, Waycross, GA 31501

Signing Officer

Name
C Billups
Title
President
Signed
2017-01-26
Discuss with paid preparer
No

Organization Details

Principal Officer
C Billups
Formed
1986
Legal Domicile
Ga
Voting Board Members
2
Independent Board Members
2
Employees
0

Preparer

Firm
Higginson and Paulk PC
Address
P O Box 1447, Waycross, GA 31502
Preparer
Ronald Paulk
Phone
9122838778
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0324449
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0743916
IRS990/TotalLiabilitiesEOYAmt0694431
IRS990/TotalLiabilitiesGrp/BOYAmt0743916
IRS990/TotalLiabilitiesGrp/EOYAmt0694431
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0378498
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0501381
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0324449
IRS990/TotalProgramServiceRevenueAmt0443295
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0447332
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0447332
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01122414
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01195812
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0378498
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0501381
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0C BILLUPS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-01-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WARE TERRACE INC
ReturnHeader/Filer/BusinessNameControlTxt0WARE
ReturnHeader/Filer/EIN0581521907
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 1965
ReturnHeader/Filer/USAddress/CityNm0Waycross
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd031501
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0582071629
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Higginson and Paulk PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O Box 1447
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Waycross
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd031502
ReturnHeader/PreparerPersonGrp/PhoneNum09122838778
ReturnHeader/PreparerPersonGrp/PreparationDt02017-01-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ronald Paulk
ReturnHeader/ReturnTs02017-01-26T15:39:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-11-01
ReturnHeader/TaxPeriodEndDt02016-10-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,195,812
Liabilities
$694,431
Net assets
$501,381
Revenue
$447,332
Expenses
$324,449
Net income
$122,883
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$0.13$1.35$0.31$0.26$0.05
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.21$1.30$0.31$0.23$0.07
2023Summary only. Only limited summary data is available for this year.$1.53$0.30$1.23$0.30$0.23$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.54$0.38$1.16$0.31$0.25$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.53$0.44$1.09$0.39$0.27$0.12
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$0.50$0.97$0.42$0.28$0.14
2019Summary only. Only limited summary data is available for this year.$1.40$0.56$0.84$0.44$0.29$0.15
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$0.61$0.69$0.37$0.29$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.27$0.66$0.61$0.39$0.29$0.11
2016Detailed filing. Detailed filing data is available for this year.$1.20$0.69$0.50$0.45$0.32$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.12$0.74$0.38$0.47$0.33$0.14
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.77$0.24$0.47$0.32$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.81$0.10$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.84$0.04$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.87$0.15$0.36