Civic Intelligence

Agape Retirement Home Inc.

990 • Fiscal year 2017 • EIN 58-1522484

Oct 01, 2016 to Sep 30, 2017 • Filed on Jan 15, 2018

Organization ProfileN/A
222 NW Church StreetValdese, NC 28690

(336) 724-1000

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$430,703

Down $92,368 (-18%) from 2016

Net Assets

Down

-$594,158

Down $3,482 (-0.6%) from 2016

Liabilities

Down

$1,024,861

Down $88,886 (-8.0%) from 2016

Revenue And Expenses

Revenue

Up

$256,037

Up $643 (+0.3%) from 2016

Expenses

Down

$259,519

Down $7,735 (-2.9%) from 2016

Net Income

Up

-$3,482

Up $8,378 (+71%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2011: $687,132Liabilities 2011: $1,183,457Net Assets 2011: -$496,3252011Assets 2012: $663,476Liabilities 2012: $1,171,148Net Assets 2012: -$507,6722012Assets 2013: $629,353Liabilities 2013: $1,157,880Net Assets 2013: -$528,5272013Assets 2014: $587,599Liabilities 2014: $1,145,280Net Assets 2014: -$557,6812014Assets 2015: $556,928Liabilities 2015: $1,135,744Net Assets 2015: -$578,8162015Assets 2016: $523,071Liabilities 2016: $1,113,747Net Assets 2016: -$590,6762016Assets 2017: $430,703Liabilities 2017: $1,024,861Net Assets 2017: -$594,1582017Assets 2018: $483,866Liabilities 2018: $1,064,679Net Assets 2018: -$580,8132018Assets 2019: $477,518Liabilities 2019: $1,045,887Net Assets 2019: -$568,3692019Assets 2020: $465,361Liabilities 2020: $1,022,015Net Assets 2020: -$556,6542020Assets 2021: $458,409Liabilities 2021: $985,846Net Assets 2021: -$527,4372021Assets 2022: $463,797Liabilities 2022: $960,363Net Assets 2022: -$496,5662022Assets 2023: $473,581Liabilities 2023: $929,887Net Assets 2023: -$456,3062023Assets 2024: $470,684Liabilities 2024: $902,085Net Assets 2024: -$431,4012024Assets 2025: $492,454Liabilities 2025: $887,355Net Assets 2025: -$394,9012025

Highlighted filing

2017

Assets$430,703
Liabilities$1,024,861
Net Assets-$594,158
Open 2017 Filing

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2011: $229,137Expenses 2011: $247,100Net Income 2011: -$17,9632011Revenue 2012: $244,178Expenses 2012: $255,525Net Income 2012: -$11,3472012Revenue 2013: $241,150Expenses 2013: $262,005Net Income 2013: -$20,8552013Revenue 2014: $246,448Expenses 2014: $275,602Net Income 2014: -$29,1542014Revenue 2015: $253,699Expenses 2015: $274,834Net Income 2015: -$21,1352015Revenue 2016: $255,394Expenses 2016: $267,254Net Income 2016: -$11,8602016Revenue 2017: $256,037Expenses 2017: $259,519Net Income 2017: -$3,4822017Revenue 2018: $265,030Expenses 2018: $251,685Net Income 2018: $13,3452018Revenue 2019: $271,104Expenses 2019: $258,660Net Income 2019: $12,4442019Revenue 2020: $274,346Expenses 2020: $262,631Net Income 2020: $11,7152020Revenue 2021: $276,138Expenses 2021: $246,921Net Income 2021: $29,2172021Revenue 2022: $280,309Expenses 2022: $249,438Net Income 2022: $30,8712022Revenue 2023: $289,956Expenses 2023: $249,696Net Income 2023: $40,2602023Revenue 2024: $301,518Expenses 2024: $276,613Net Income 2024: $24,9052024Revenue 2025: $313,209Expenses 2025: $276,709Net Income 2025: $36,5002025

Highlighted filing

2017

Revenue$256,037
Expenses$259,519
Net Income-$3,482
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Jan 15, 2018
Return Version
2016v3.0
Gross Receipts
$256,037
Mission and Program Overview

Mission

To operate a 30-unit apartment complex, located in valdese, north carolina under section 207 pursuant to section 223(f) of the national housing act of 1959.

To operate a 30-unit apartment complex for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$352,984$313,694▼ $39,290
Intangible Assets$67,136--
Cash and Non-Interest-Bearing Accounts$4,410$5,900▲ $1,490
Accounts Receivable$0$119▲ $119
Total Assets$523,071$430,703▼ $92,368
Other Assets Total$98,541$110,990▲ $12,449
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,093,554$1,005,386▼ $88,168
Other Liabilities$14,589$14,751▲ $162
Accounts Payable and Accrued Expenses$5,604$4,724▼ $880
Total Liabilities$1,113,747$1,024,861▼ $88,886
Net Assets / Fund Balance
Unrestricted Net Assets$-590,676$-594,158▼ $3,482
Total Net Assets Fund Balance$-590,676$-594,158▼ $3,482
Total Liabilities and Net Assets / Fund Balance$523,071$430,703▼ $92,368

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$215,028$801,531$1,016,559
Land$59,920-$59,920
Equipment$10,944$42,240$53,184
Other Land Buildings$27,802$6,347$34,149
Other Assets Org$10,769--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ann MullisPresident
Roy SweezyVice President
Gary a GarnerDirector
Harold PassmoreDirector
Jerry MurrayDirector
Jordan GreeneDirector
Mary MurrayDirector
Pam PonsDirector
Susan StevensonDirector
Willie PascalDirector
Michelle RogersSecretary
Woody PoorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$192,335
Program Service Revenue
$62,805
Investment Income
$35
Other Revenue
$862
Change in Net Assets
$-3,482

Audited Revenue Reconciliation

Revenue per Audited Statements
$256,037
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$256,037
Total Revenue per Form 990
$256,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$259,519
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$44,015--$44,015
Depreciation Depletion$39,290--$39,290
Fees for Services Management$18,789--$18,789
Insurance$17,051--$17,051
All Other Expenses$14,450$1,950-$16,400
Other Expenses$15,456--$15,456
Fees for Services Accounting-$6,620-$6,620
Office Expenses$6,454--$6,454
Occupancy$5,496--$5,496
Total Functional Expenses$250,949$8,570$0$259,519

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$259,519
Total Expenses per Audited Statements$259,519
Total Expenses per Form 990$259,519
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$9,542
Accrued Interest$3,424
Accrued Management Fee$1,785
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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 has delegated the management of the rental apartments to residential property management, inc. The apartment complex for low-income and elderly individuals is regulated by u.s. Department of housing & urban development as to rent charges and operating methods. Residential property management, inc. Was chosen due to its experience in management under these guidelines.”

Form 990, Part VI, Section B, Line 11B

“Before filing, form 990 is reviewed by the president of rpm, which manages the organization.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents are available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Agape Retirement Home Inc
EIN
58-1522484
Phone
3367241000
Address
222 NW CHURCH STREET, VALDESE, NC 28690

Signing Officer

Name
Ann Mullis
Title
Chairman
Phone
3367241000
Signed
2018-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ann Mullis
Formed
1985
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Bernard Robinson & Company Llp
Address
PO BOX 19608, GREENSBORO, NC 27419-9608
Preparer
Casey H Patterson
Phone
3362944494
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“It is the organization's policy to evaluate all tax positions to identify any that may be considered uncertain. All identified material tax positions are assessed and measured by a "more-likely-than-not" threshold to determine if the tax position is uncertain and what, if any, the effect of the uncertain tax position may have on the financial statements. No material uncertain tax positions were identified for fiscal year 2017.”

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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-3482
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt063667
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0192335
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0195288
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0191872
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0182861
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0176675
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0939031
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt035
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt029
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt033
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt059
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt062
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0218
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0310775
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99980
IRS990ScheduleA/PublicSupportPY170Pct00.99970
IRS990ScheduleA/PublicSupportTotal170Amt0939031
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0192335
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0195288
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0191872
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0182861
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0176675
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0939031
IRS990ScheduleA/TotalSupportAmt0939249
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0215028
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0801531
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01016559
IRS990ScheduleD/EquipmentGrp/BookValueAmt010944
IRS990ScheduleD/EquipmentGrp/DepreciationAmt042240
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt053184
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0259519
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt059920
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt059920
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0617
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt113162
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt285641
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3801
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt410769
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0PREPAID EXPENSES AND DEFERRED CHARGES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MORTGAGE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt027802
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06347
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt034149
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01785
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt19542
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt23424
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED MANAGEMENT FEE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED INTEREST
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0256037
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IT IS THE ORGANIZATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE-LIKELY-THAN-NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR FISCAL YEAR 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0313694
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0110990
IRS990ScheduleD/TotalExpensesPerForm990Amt0259519
IRS990ScheduleD/TotalLiabilityAmt014751
IRS990ScheduleD/TotalRevenuePerForm990Amt0256037
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0256037
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0259519
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS HAS DELEGATED THE MANAGEMENT OF THE RENTAL APARTMENTS TO RESIDENTIAL PROPERTY MANAGEMENT, INC. THE APARTMENT COMPLEX FOR LOW-INCOME AND ELDERLY INDIVIDUALS IS REGULATED BY U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS. RESIDENTIAL PROPERTY MANAGEMENT, INC. WAS CHOSEN DUE TO ITS EXPERIENCE IN MANAGEMENT UNDER THESE GUIDELINES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BEFORE FILING, FORM 990 IS REVIEWED BY THE PRESIDENT OF RPM, WHICH MANAGES THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0523071
IRS990/TotalAssetsEOYAmt0430703
IRS990/TotalAssetsGrp/BOYAmt0523071
IRS990/TotalAssetsGrp/EOYAmt0430703
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0192335
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08570
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0250949
IRS990/TotalFunctionalExpensesGrp/TotalAmt0259519
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01113747
IRS990/TotalLiabilitiesEOYAmt01024861
IRS990/TotalLiabilitiesGrp/BOYAmt01113747
IRS990/TotalLiabilitiesGrp/EOYAmt01024861
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-590676
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-594158
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0250949
IRS990/TotalProgramServiceRevenueAmt062805
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt035
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt063667
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0256037
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$430,703
Liabilities
$1,024,861
Net assets
-$594,158
Revenue
$256,037
Expenses
$259,519
Net income
-$3,482
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.49$0.89$0.39$0.31$0.28$0.04
2024Detailed filing. Detailed filing data is available for this year.$0.47$0.90$0.43$0.30$0.28$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.47$0.93$0.46$0.29$0.25$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.46$0.96$0.50$0.28$0.25$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.99$0.53$0.28$0.25$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.47$1.02$0.56$0.27$0.26$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.48$1.05$0.57$0.27$0.26$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.48$1.06$0.58$0.27$0.25$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.43$1.02$0.59$0.26$0.26$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.52$1.11$0.59$0.26$0.27$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.56$1.14$0.58$0.25$0.27$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.59$1.15$0.56$0.25$0.28$0.03
2013Summary only. Only limited summary data is available for this year.$0.63$1.16$0.53$0.24$0.26$0.02
2012Summary only. Only limited summary data is available for this year.$0.66$1.17$0.51$0.24$0.26$0.01
2011Summary only. Only limited summary data is available for this year.$0.69$1.18$0.50$0.23$0.25$0.02