Civic Intelligence

Gim Housing Inc

990 • Fiscal year 2016 • EIN 59-2810381

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 19, 2017

Organization Profilewww.goodwillindustries.org
650 North Beneva RoadSarasota, FL 34232

(941) 365-3524

Siviq Scores

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

Liabilities / Assets

98th percentile

1.84x

Higher debt load relative to assets than 98% of similar nonprofits.

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

Liabilities / Revenue

95th percentile

5.28x

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

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

Net Margin

23rd percentile

-9.5%

Higher net margin than 23% of similar nonprofits.

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

Top Officer Pay

96th percentile

$386,675

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 64.1% of source-year revenue.

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

Asset Growth

9th percentile

-15%

Faster asset growth than 9% of similar nonprofits.

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

Revenue Growth

44th percentile

0.6%

Faster revenue growth than 44% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$1,732,422

Down $303,274 (-15%) from 2015

Net Assets

Down

-$1,449,142

Down $57,357 (-4.1%) from 2015

Liabilities

Down

$3,181,564

Down $245,917 (-7.2%) from 2015

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin23rd percentile

Revenue

Up

$603,079

Up $3,635 (+0.6%) from 2015

Expenses

Down

$660,436

Down $67,447 (-9.3%) from 2015

Net Income

Up

-$57,357

Up $71,082 (+55%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2010: $2,614,585Liabilities 2010: $3,421,685Net Assets 2010: -$807,1002010Assets 2011: $2,487,877Liabilities 2011: $3,400,344Net Assets 2011: -$912,4672011Assets 2012: $2,386,478Liabilities 2012: $3,399,310Net Assets 2012: -$1,012,8322012Assets 2013: $2,287,392Liabilities 2013: $3,399,991Net Assets 2013: -$1,112,5992013Assets 2014: $2,147,162Liabilities 2014: $3,410,508Net Assets 2014: -$1,263,3462014Assets 2015: $2,035,696Liabilities 2015: $3,427,481Net Assets 2015: -$1,391,7852015Assets 2016: $1,732,422Liabilities 2016: $3,181,564Net Assets 2016: -$1,449,1422016Assets 2017: $1,673,576Liabilities 2017: $3,175,316Net Assets 2017: -$1,501,7402017Assets 2018: $1,540,968Liabilities 2018: $3,155,392Net Assets 2018: -$1,614,4242018Assets 2019: $1,518,805Liabilities 2019: $3,150,996Net Assets 2019: -$1,632,1912019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2016

Assets$1,732,422
Liabilities$3,181,564
Net Assets-$1,449,142
Open 2016 Filing

Operations Trend

Revenue Growth44th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $642,6922010Expenses 2011: $667,4072011Expenses 2012: $678,7082012Revenue 2013: $582,338Expenses 2013: $682,105Net Income 2013: -$99,7672013Revenue 2014: $589,366Expenses 2014: $740,113Net Income 2014: -$150,7472014Revenue 2015: $599,444Expenses 2015: $727,883Net Income 2015: -$128,4392015Revenue 2016: $603,079Expenses 2016: $660,436Net Income 2016: -$57,3572016Revenue 2017: $615,536Expenses 2017: $668,134Net Income 2017: -$52,5982017Revenue 2018: $600,636Expenses 2018: $713,320Net Income 2018: -$112,6842018Revenue 2019: $609,983Expenses 2019: $627,750Net Income 2019: -$17,7672019Revenue 2020: $2,054,613Expenses 2020: $422,422Net Income 2020: $1,632,1912020

Highlighted filing

2016

Revenue$603,079
Expenses$660,436
Net Income-$57,357
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 19, 2017
Return Version
2016v3.0
Gross Receipts
$603,079
Mission and Program Overview

Mission

Low-Income Handicapped Housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,689,613$1,598,462▼ $91,151
Savings and Temporary Cash Investments$115,852$106,065▼ $9,787
Cash and Non-Interest-Bearing Accounts$7,623$12,635▲ $5,012
Prepaid Expenses and Deferred Charges$21,813$12,502▼ $9,311
Accounts Receivable$232$2,758▲ $2,526
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,035,696$1,732,422▼ $303,274
Other Assets Total$200,563$0▼ $200,563
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,357,483$3,148,733▼ $208,750
Accounts Payable and Accrued Expenses$58,719$21,927▼ $36,792
Other Liabilities$11,279$10,904▼ $375
Total Liabilities$3,427,481$3,181,564▼ $245,917
Net Assets / Fund Balance
Unrestricted Net Assets$-1,391,785$-1,449,142▼ $57,357
Total Net Assets Fund Balance$-1,391,785$-1,449,142▼ $57,357
Total Liabilities and Net Assets / Fund Balance$2,035,696$1,732,422▼ $303,274

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,465,958-$2,465,958
Land$558,484-$558,484
Equipment$183,989-$183,989
Other Land Buildings$-1,609,969$1,636,722$26,753
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleOtherTotal
David WellsDirector$140,231$140,231
Adrian GessenDirector$118,341$118,341
Amy ConferDirector$95,474$95,474
Margie GenterChairman$88,895$88,895

Board Members and Trustees

NameTitle
Bob RosinskyPresident
Bob StanellDirector
Rob MorrisDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$497,942
Program Service Revenue
$101,039
Investment Income
$34
Other Revenue
$4,064
Change in Net Assets
$-57,357

Audited Revenue Reconciliation

Revenue per Audited Statements
$603,079
Total Revenue per Audited Statements
$603,079
Total Revenue per Form 990
$603,079
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$464,560
Salaries, Compensation, and Employee Benefits$195,876
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$112,487$24,564-$137,051
Other Salaries and Wages$123,496--$123,496
Depreciation Depletion$99,670--$99,670
Other Employee Benefits$61,696--$61,696
Occupancy$42,490--$42,490
Insurance$32,430--$32,430
Fees for Services Management-$24,000-$24,000
All Other Expenses$18,535--$18,535
Office Expenses$16,694--$16,694
Fees for Services Accounting-$12,736-$12,736
Payroll Taxes$10,684--$10,684
Other Expenses$8,040--$8,040
Fees for Services Legal-$1,794-$1,794
Advertising$855--$855
Conferences and Meetings$590--$590
Total Functional Expenses$597,342$63,094$0$660,436

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$660,436
Total Expenses per Audited Statements$660,436
Total Expenses per Form 990$660,436
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$10,904
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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, Line 3: Description of Delegated Duties to Management Company

“The management company handles all the day to day activities for the organization. It also provides all the necessay monthly accounting and bookkeeping service.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Provided to board members prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“This is done with a conflict of interest statement completed by each member of the volunteer board.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Available upon request.”

Filing and Contact Details

Filer

Filer Name
GIM Housing Inc
EIN
59-2810381
Phone
9413653524
Address
650 North Beneva Road, Sarasota, FL 34232

Signing Officer

Name
Bob Rosinsky
Title
President
Signed
2017-04-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Rosinsky
Formed
1987
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
1
Employees
0

Preparer

Firm
Barton Gonzalez & Myers Pa
Address
13137 66TH ST, LARGO, FL 33773-1812
Preparer
Sergio Gonzalez
Phone
7273441040
Supplemental Narrative

Additional Explanations

Client Note 1

“Client Note 1 - Form 990, Part V, Line 2aForm 990, Part VI, Section B, Line 15Form 900, Part IX, Line 7 & 10 - Statement of Functional ExpensesCompensation:The organization has no employees. All compensation costs are allocated from the employees of the management company.Form 990, Part VI, Section A, Line 1b Number of Voting Members Who are IndependentThe Board is made up of interested Goodwill employees and supporters with experience and technical expertise. The one independent Board member is the Chairman of the Board of Goodwill Industries-Manasota, Inc., which is the sponsoring organization. The Board Chair reports back to the Board of Goodwill Manasota-Inc. which is comprised of independent Board members.”

Related Parties

“A board member (Bob Stanell) is a principal in the accounting firm of Christopher, Smith, Leonard, Bristow & Stanell, P.A. ("CS&L") that provides accounting and CFO services to a related entity (Goodwill Industries-Manasota, Inc.). CS&L does not provide any accounting services to G.I.M. Housing, Inc. CS&L did provide the following services to the sponsoring entity (Goodwill Industries-Manasota, Inc.):1. Outsourced all daily accounting, treasury, payroll and CFO services of the entire dept - $778,535.2. Outsourced special projects function for strategic planning purposes - $80,495.3. Pension administration and related plan design services - $3,490.Fees are reviewed and negotiating annually with the CEO and Board of Directors of Goodwill Industries-Manasota, Inc.”

Financial Statement Notes

Part X : FIN48 Footnote

“No provision for income tax expense has been made in the accompanying financial statements since the Organization is exempt from income taxes under Internal Revenue Code (IRC) Section 501(a) as an IRC Section 501(c)(3) organization. In addition, the Organization is not a private foundation within the meaning of Section 509(a) of the Internal Revenue Code. The Internal Revenue Code provides for taxation of unrelated business income under certain circumstances. The Organization reports no unrelated business taxable income; however, such status is subject to final determination upon examination of the related tax returns by the appropriate taxing authorities. The Organization adopted the provisions of the FASB ASC 740, Income Taxes (formerly Interpretation 48 [FIN 48], Accounting for Uncertain Tax Positions). ASC 740 clarifies the accounting for income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. ASC 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Organization determined that during the year ended December 31, 2016, ASC 740 did not have a material impact on its financial position, activities or cash flows. The Organizations Forms 990, Return of Organization Exempt from Income Tax, are subject to examination by the IRS, generally for three years after they were filed.”

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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt096347
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Security Deposits
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0No provision for income tax expense has been made in the accompanying financial statements since the Organization is exempt from income taxes under Internal Revenue Code (IRC) Section 501(a) as an IRC Section 501(c)(3) organization. In addition, the Organization is not a private foundation within the meaning of Section 509(a) of the Internal Revenue Code. The Internal Revenue Code provides for taxation of unrelated business income under certain circumstances. The Organization reports no unrelated business taxable income; however, such status is subject to final determination upon examination of the related tax returns by the appropriate taxing authorities. The Organization adopted the provisions of the FASB ASC 740, Income Taxes (formerly Interpretation 48 [FIN 48], Accounting for Uncertain Tax Positions). ASC 740 clarifies the accounting for income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. ASC 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Organization determined that during the year ended December 31, 2016, ASC 740 did not have a material impact on its financial position, activities or cash flows. The Organizations Forms 990, Return of Organization Exempt from Income Tax, are subject to examination by the IRS, generally for three years after they were filed.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt042000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Bob Rosinsky
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0386675
IRS990ScheduleJ/SeverancePaymentInd0false
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - Form 990, Part V, Line 2aForm 990, Part VI, Section B, Line 15Form 900, Part IX, Line 7 & 10 - Statement of Functional ExpensesCompensation:The organization has no employees. All compensation costs are allocated from the employees of the management company.Form 990, Part VI, Section A, Line 1b Number of Voting Members Who are IndependentThe Board is made up of interested Goodwill employees and supporters with experience and technical expertise. The one independent Board member is the Chairman of the Board of Goodwill Industries-Manasota, Inc., which is the sponsoring organization. The Board Chair reports back to the Board of Goodwill Manasota-Inc. which is comprised of independent Board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The management company handles all the day to day activities for the organization. It also provides all the necessay monthly accounting and bookkeeping service.

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,732,422
Liabilities
$3,181,564
Net assets
-$1,449,142
Revenue
$603,079
Expenses
$660,436
Net income
-$57,357
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$2.05$0.42$1.63
2019Detailed filing. Detailed filing data is available for this year.$1.52$3.15$1.63$0.61$0.63$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.54$3.16$1.61$0.60$0.71$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.67$3.18$1.50$0.62$0.67$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.73$3.18$1.45$0.60$0.66$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.04$3.43$1.39$0.60$0.73$0.13
2014Detailed filing. Detailed filing data is available for this year.$2.15$3.41$1.26$0.59$0.74$0.15
2013Detailed filing. Detailed filing data is available for this year.$2.29$3.40$1.11$0.58$0.68$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.39$3.40$1.01$0.68
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.49$3.40$0.91$0.67
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.61$3.42$0.81$0.64
Peer Organizations

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