Civic Intelligence

Galilee Majestic Arms Incorporated

990 • Fiscal year 2018 • EIN 58-7163009

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 29, 2019

Organization ProfileN/A
1320 Pierre AvenueShreveport, LA 71103

(318) 429-4945

Siviq Scores

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

Liabilities / Assets

97th percentile

1.78x

Higher debt load relative to assets than 97% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

3.04x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

56th percentile

5.8%

Higher net margin than 56% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

30th percentile

-4.1%

Faster asset growth than 30% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

46th percentile

2.3%

Faster revenue growth than 46% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$946,341

Down $40,460 (-4.1%) from 2017

Net Assets

Up

-$735,632

Up $31,854 (+4.2%) from 2017

Liabilities

Down

$1,681,973

Down $72,314 (-4.1%) from 2017

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin56th percentile

Revenue

Up

$553,719

Up $12,194 (+2.3%) from 2017

Expenses

Down

$521,865

Down $12,168 (-2.3%) from 2017

Net Income

Up

$31,854

Up $24,362 (+325%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $1,401,854Liabilities 2010: $2,156,311Net Assets 2010: -$754,4572010Assets 2011: $1,349,810Liabilities 2011: $2,116,974Net Assets 2011: -$767,1642011Assets 2012: $1,288,389Liabilities 2012: $2,071,177Net Assets 2012: -$782,7882012Assets 2013: $1,306,372Liabilities 2013: $2,003,788Net Assets 2013: -$697,4162013Assets 2014: $1,210,803Liabilities 2014: $1,966,606Net Assets 2014: -$755,8032014Assets 2015: $1,176,927Liabilities 2015: $1,941,494Net Assets 2015: -$764,5672015Assets 2016: $1,044,889Liabilities 2016: $1,844,728Net Assets 2016: -$799,8392016Assets 2017: $986,801Liabilities 2017: $1,754,287Net Assets 2017: -$767,4862017Assets 2018: $946,341Liabilities 2018: $1,681,973Net Assets 2018: -$735,6322018Assets 2019: $941,562Liabilities 2019: $1,660,893Net Assets 2019: -$719,3312019Assets 2020: $854,860Liabilities 2020: $1,492,067Net Assets 2020: -$637,2072020Assets 2021: $778,064Liabilities 2021: $1,415,244Net Assets 2021: -$637,1802021Assets 2022: $6,452,420Liabilities 2022: $0Net Assets 2022: $6,452,4202022

Highlighted filing

2018

Assets$946,341
Liabilities$1,681,973
Net Assets-$735,632
Open 2018 Filing

Operations Trend

Revenue Growth46th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $555,7422010Revenue 2011: $548,471Expenses 2011: $561,178Net Income 2011: -$12,7072011Revenue 2012: $568,262Expenses 2012: $583,886Net Income 2012: -$15,6242012Revenue 2013: $534,285Expenses 2013: $466,823Net Income 2013: $67,4622013Revenue 2014: $617,794Expenses 2014: $616,493Net Income 2014: $1,3012014Revenue 2015: $558,575Expenses 2015: $567,339Net Income 2015: -$8,7642015Revenue 2016: $550,527Expenses 2016: $567,920Net Income 2016: -$17,3932016Revenue 2017: $541,525Expenses 2017: $534,033Net Income 2017: $7,4922017Revenue 2018: $553,719Expenses 2018: $521,865Net Income 2018: $31,8542018Revenue 2019: $560,033Expenses 2019: $543,732Net Income 2019: $16,3012019Revenue 2020: $563,981Expenses 2020: $481,857Net Income 2020: $82,1242020Revenue 2021: $500,820Expenses 2021: $500,793Net Income 2021: $272021Revenue 2022: $7,370,807Expenses 2022: $281,207Net Income 2022: $7,089,6002022

Highlighted filing

2018

Revenue$553,719
Expenses$521,865
Net Income$31,854
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 29, 2019
Return Version
2018v3.1
Gross Receipts
$553,719
Mission and Program Overview

Mission

Providing adequate housing under title iv to elderly and/or disabled persons under section 8 agreements with the u.s. Department of housing and urban development

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$915,210$853,187▼ $62,023
Savings and Temporary Cash Investments$65,745$88,166▲ $22,421
Prepaid Expenses and Deferred Charges$4,689$4,588▼ $101
Cash and Non-Interest-Bearing Accounts$1,157$400▼ $757
Total Assets$986,801$946,341▼ $40,460
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,697,508$1,620,281▼ $77,227
Accounts Payable and Accrued Expenses$42,980$47,630▲ $4,650
Other Liabilities$13,799$14,062▲ $263
Total Liabilities$1,754,287$1,681,973▼ $72,314
Net Assets / Fund Balance
Unrestricted Net Assets$-767,486$-735,632▲ $31,854
Total Net Assets Fund Balance$-767,486$-735,632▲ $31,854
Total Liabilities and Net Assets / Fund Balance$986,801$946,341▼ $40,460

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$753,130$1,689,656$2,442,786
Equipment$20,108$198,253$218,361
Land$79,949-$79,949
Other Land Buildings-$38,406$38,406
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Arthur L LovettDirector
Carl MatthewsDirector
Clarence PearsonDirector
Freddie RussellDirector
Percy CareyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$550,045
Investment Income
$221
Other Revenue
$3,453
Change in Net Assets
$31,854
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$449,922
Salaries, Compensation, and Employee Benefits$71,943
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$151,134--$151,134
Other Expenses$85,866--$85,866
Depreciation Depletion$72,455--$72,455
Other Salaries and Wages$55,222--$55,222
Fees for Services Management$36,320--$36,320
Insurance$29,103--$29,103
Payroll Taxes$16,721--$16,721
Office Expenses$14,123--$14,123
All Other Expenses$9,492--$9,492
Fees for Services Accounting$5,490--$5,490
Advertising$466--$466
Conferences and Meetings$377--$377
Total Functional Expenses$521,865$0$0$521,865
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
Federal income taxes$14,062
Tenant Security Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section SECTION A, Line LINE 3

“The board of directors has contracted out the management of the organization. The day to day management operations are performed by signature property management, a property management consulting firm.”

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

“Tax return is prepared by judy moncrief cpa llc after the financial statements are prepared then presented to the board for review and signature to file.”

Form 990, Part VI, Section SECTION C, Line LINE 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Galilee Majestic Arms Inc
EIN
58-7163009
Phone
3184294945
Address
1320 PIERRE AVENUE, SHREVEPORT, LA 71103

Signing Officer

Name
Jasmine Wilson
Title
Management Agent
Signed
2019-09-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Arthur L Lovett
Formed
1989
Legal Domicile
La
Voting Board Members
5
Independent Board Members
5
Employees
6

Preparer

Firm
Judy Moncrief CPA LLC
Address
910 Pierremont Road Suite 311, Shreveport, LA 71106
Preparer
Judy E Moncrief
Phone
3186831002
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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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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01689656
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02442786
IRS990ScheduleD/EquipmentGrp/BookValueAmt020108
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0198253
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0218361
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt079949
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt079949
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt038406
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt038406
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014062
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0853187
IRS990ScheduleD/TotalLiabilityAmt014062
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS HAS CONTRACTED OUT THE MANAGEMENT OF THE ORGANIZATION. THE DAY TO DAY MANAGEMENT OPERATIONS ARE PERFORMED BY SIGNATURE PROPERTY MANAGEMENT, A PROPERTY MANAGEMENT CONSULTING FIRM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TAX RETURN IS PREPARED BY JUDY MONCRIEF CPA LLC AFTER THE FINANCIAL STATEMENTS ARE PREPARED THEN PRESENTED TO THE BOARD FOR REVIEW AND SIGNATURE TO FILE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section SECTION A, Line LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section SECTION B, Line LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section SECTION C, Line LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0986801
IRS990/TotalAssetsEOYAmt0946341
IRS990/TotalAssetsGrp/BOYAmt0986801
IRS990/TotalAssetsGrp/EOYAmt0946341
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0521865
IRS990/TotalFunctionalExpensesGrp/TotalAmt0521865
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01754287
IRS990/TotalLiabilitiesEOYAmt01681973
IRS990/TotalLiabilitiesGrp/BOYAmt01754287
IRS990/TotalLiabilitiesGrp/EOYAmt01681973
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-767486
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-735632
IRS990/TotalProgramServiceExpensesAmt0521865
IRS990/TotalProgramServiceRevenueAmt0550045
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0553719
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0553719
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0986801
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0946341
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-767486
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-735632
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01525 SYCAMORE STREET
IRS990/USAddress/CityNm0SHREVEPORT
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd071103
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-01-14 16:20:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JASMINE WILSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGEMENT AGENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-09-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GALILEE MAJESTIC ARMS INC
ReturnHeader/Filer/BusinessNameControlTxt0GALI
ReturnHeader/Filer/EIN0587163009
ReturnHeader/Filer/PhoneNum03184294945
ReturnHeader/Filer/USAddress/AddressLine1Txt01320 PIERRE AVENUE
ReturnHeader/Filer/USAddress/CityNm0SHREVEPORT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd071103
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId02023E2461982DA54ED9AB923CBC6F11F60F7B1AE
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02023E2461982DA54ED9AB923CBC6F11F60F7B1AE
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.65.73.215
ReturnHeader/FilingSecurityInformation/IPDt02019-10-02
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm017:17:51
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Judy Moncrief CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0910 Pierremont Road Suite 311
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Shreveport
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd071106
ReturnHeader/PreparerPersonGrp/PhoneNum03186831002
ReturnHeader/PreparerPersonGrp/PreparationDt02019-09-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Judy E Moncrief
ReturnHeader/ReturnTs02019-09-29T05:37:16-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$946,341
Liabilities
$1,681,973
Net assets
-$735,632
Revenue
$553,719
Expenses
$521,865
Net income
$31,854
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$6.45$0.00$6.45$7.37$0.28$7.09
2021Detailed filing. Detailed filing data is available for this year.$0.78$1.42$0.64$0.50$0.50$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.85$1.49$0.64$0.56$0.48$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.94$1.66$0.72$0.56$0.54$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.95$1.68$0.74$0.55$0.52$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.99$1.75$0.77$0.54$0.53$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.04$1.84$0.80$0.55$0.57$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.18$1.94$0.76$0.56$0.57$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.21$1.97$0.76$0.62$0.62$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.31$2.00$0.70$0.53$0.47$0.07
2012Summary only. Only limited summary data is available for this year.$1.29$2.07$0.78$0.57$0.58$0.02
2011Summary only. Only limited summary data is available for this year.$1.35$2.12$0.77$0.55$0.56$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$2.16$0.75$0.56