Civic Intelligence

Ware Terrace Incorporated

990 • Fiscal year 2018 • EIN 58-1521907

Nov 01, 2017 to Oct 31, 2018 • Filed on Feb 01, 2019

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

80th percentile

0.47x

Higher debt load relative to assets than 80% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

89th percentile

1.65x

Higher debt load relative to revenue than 89% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

79th percentile

21%

Higher net margin than 79% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

55th percentile

2.4%

Faster asset growth than 55% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

26th percentile

-6.3%

Faster revenue growth than 26% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$1,298,148

Up $30,742 (+2.4%) from 2017

Net Assets

Up

$686,414

Up $78,487 (+13%) from 2017

Liabilities

Down

$611,734

Down $47,745 (-7.2%) from 2017

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin79th percentile

Revenue

Down

$369,669

Down $24,682 (-6.3%) from 2017

Expenses

Up

$291,182

Up $3,377 (+1.2%) from 2017

Net Income

Down

$78,487

Down $28,059 (-26%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2018

Assets$1,298,148
Liabilities$611,734
Net Assets$686,414
Open 2018 Filing

Operations Trend

Revenue Growth26th 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

2018

Revenue$369,669
Expenses$291,182
Net Income$78,487
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2017 to Oct 31, 2018
Signed
Feb 1, 2019
Return Version
2017v2.2
Gross Receipts
$369,669
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$1,000,411$1,028,519▲ $28,108
Land, Buildings, and Equipment, Net$223,850$222,971▼ $879
Cash and Non-Interest-Bearing Accounts$38,430$44,564▲ $6,134
Accounts Receivable$4,715$2,094▼ $2,621
Total Assets$1,267,406$1,298,148▲ $30,742
Liabilities
Mortgage Notes Payable Secured by Investment Property$618,575$571,068▼ $47,507
Accounts Payable and Accrued Expenses$33,069$31,565▼ $1,504
Other Liabilities$7,835$9,101▲ $1,266
Total Liabilities$659,479$611,734▼ $47,745
Net Assets / Fund Balance
Unrestricted Net Assets$607,927$686,414▲ $78,487
Total Net Assets Fund Balance$607,927$686,414▲ $78,487
Total Liabilities and Net Assets / Fund Balance$1,267,406$1,298,148▲ $30,742

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$179,560$1,274,830$1,454,390
Equipment$4,471$43,752$48,223
Land$38,940-$38,940
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
C BillupsPresident
Ronald PaulkCFO
S BurdenSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$365,040
Investment Income
$4,629
Other Revenue
$0
Change in Net Assets
$78,487

Audited Revenue Reconciliation

Revenue per Audited Statements
$369,669
Total Revenue per Audited Statements
$369,669
Total Revenue per Form 990
$369,669
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$258,180
Salaries, Compensation, and Employee Benefits$33,002
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$121,087--$121,087
Interest$54,871--$54,871
Depreciation Depletion$31,299--$31,299
Other Salaries and Wages$29,948--$29,948
Fees for Services Management$17,475--$17,475
Insurance$10,461--$10,461
Fees for Services Accounting$9,450--$9,450
Office Expenses$5,569--$5,569
Other Expenses$4,551--$4,551
Payroll Taxes$3,054--$3,054
Fees for Services Other$1,385--$1,385
Fees for Services Legal$1,051--$1,051
Advertising$384--$384
Total Functional Expenses$291,182$0$0$291,182

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$291,182
Total Expenses per Audited Statements$291,182
Total Expenses per Form 990$291,182
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$9,101
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
Ronald Paulk
Title
CFO
Signed
2019-02-01
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/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AT A CALL BOARD MEETING THE 990 RETURN IS PRESENTED BY THE CPA PREPARER AND ANSWERS ANY QUESTIONS OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE HAVE BEEN NO REQUEST FOR ANY DOCUMENTS DURING THE CURRENT TAXABLE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01267406
IRS990/TotalAssetsEOYAmt01298148
IRS990/TotalAssetsGrp/BOYAmt01267406
IRS990/TotalAssetsGrp/EOYAmt01298148
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0291182
IRS990/TotalFunctionalExpensesGrp/TotalAmt0291182
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0659479
IRS990/TotalLiabilitiesEOYAmt0611734
IRS990/TotalLiabilitiesGrp/BOYAmt0659479
IRS990/TotalLiabilitiesGrp/EOYAmt0611734
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0607927
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0686414
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0291182
IRS990/TotalProgramServiceRevenueAmt0365040
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0369669
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0369669
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01267406
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01298148
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0607927
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0686414
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0RONALD PAULK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-02-01
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0FB9265658EA0D4CC33D183A341B2AD9B10E810CB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0FB9265658EA0D4CC33D183A341B2AD9B10E810CB
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId05869242019033nellzpp
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-02-02
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0209.212.137.60
ReturnHeader/FilingSecurityInformation/IPDt02019-02-02
ReturnHeader/FilingSecurityInformation/IPTm014:59:23
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/PreparationDt02019-02-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ronald Paulk
ReturnHeader/ReturnTs02019-02-01T11:59:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-11-01
ReturnHeader/TaxPeriodEndDt02018-10-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,298,148
Liabilities
$611,734
Net assets
$686,414
Revenue
$369,669
Expenses
$291,182
Net income
$78,487
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
2018Detailed filing. Detailed filing data is available for this year.$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
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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