Civic Intelligence

Smith Thomas Inc.

990 • Fiscal year 2015 • EIN 59-3416911

Jan 01, 2015 to Dec 31, 2015 • Filed on May 11, 2016

Organization ProfileN/A
516 Lakeview Road Unit 8Clearwater, FL 33756

(727) 449-1182

Siviq Scores

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

Liabilities / Assets

75th percentile

0.41x

Higher debt load relative to assets than 75% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

2.34x

Higher debt load relative to revenue than 91% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

69th percentile

11%

Higher net margin than 69% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

43rd percentile

-0.8%

Faster asset growth than 43% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

56th percentile

5.7%

Faster revenue growth than 56% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$1,716,690

Down $85,112 (-4.7%) from 2013

Net Assets

Down

$1,008,312

Down $11,108 (-1.1%) from 2013

Liabilities

Down

$708,378

Down $74,004 (-9.5%) from 2013

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin69th percentile

Revenue

Up

$302,729

Up $41,811 (+16%) from 2013

Expenses

Down

$268,940

Down $41,955 (-13%) from 2013

Net Income

Up

$33,789

Up $83,766 (+168%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,940,513Liabilities 2011: $850,998Net Assets 2011: $1,089,5152011Assets 2013: $1,801,802Liabilities 2013: $782,382Net Assets 2013: $1,019,4202013Assets 2015: $1,716,690Liabilities 2015: $708,378Net Assets 2015: $1,008,3122015Assets 2016: $1,711,437Liabilities 2016: $671,364Net Assets 2016: $1,040,0732016Assets 2017: $1,703,325Liabilities 2017: $638,242Net Assets 2017: $1,065,0832017Assets 2018: $1,667,070Liabilities 2018: $608,021Net Assets 2018: $1,059,0492018Assets 2019: $1,649,821Liabilities 2019: $566,355Net Assets 2019: $1,083,4662019Assets 2020: $1,658,060Liabilities 2020: $547,171Net Assets 2020: $1,110,8892020Assets 2022: $1,641,863Liabilities 2022: $461,051Net Assets 2022: $1,180,8122022

Highlighted filing

2015

Assets$1,716,690
Liabilities$708,378
Net Assets$1,008,312
Open 2015 Filing

Operations Trend

Revenue Growth56th percentile

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

$400K$200K$0-$200KExpenses 2011: $281,8842011Revenue 2013: $260,918Expenses 2013: $310,895Net Income 2013: -$49,9772013Revenue 2015: $302,729Expenses 2015: $268,940Net Income 2015: $33,7892015Revenue 2016: $308,275Expenses 2016: $276,514Net Income 2016: $31,7612016Revenue 2017: $348,222Expenses 2017: $323,212Net Income 2017: $25,0102017Revenue 2018: $314,309Expenses 2018: $320,343Net Income 2018: -$6,0342018Revenue 2019: $351,933Expenses 2019: $327,516Net Income 2019: $24,4172019Revenue 2020: $354,687Expenses 2020: $327,264Net Income 2020: $27,4232020Revenue 2022: $365,346Expenses 2022: $334,439Net Income 2022: $30,9072022

Highlighted filing

2015

Revenue$302,729
Expenses$268,940
Net Income$33,789
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 11, 2016
Return Version
2015v2.0
Gross Receipts
$302,729
Mission and Program Overview

Mission

Provide Low-Income Housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,523,473$1,466,019▼ $57,454
Rtn Earn Endowment Incm Other Fnds$974,523$1,008,312▲ $33,789
Savings and Temporary Cash Investments$171,178$213,822▲ $42,644
Cash and Non-Interest-Bearing Accounts$18,338$16,556▼ $1,782
Accounts Receivable$9,859$12,276▲ $2,417
Intangible Assets$5,529$5,199▼ $330
Prepaid Expenses and Deferred Charges$3,022$2,818▼ $204
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-
Inventories for Sale or Use-$0-
Total Assets$1,731,399$1,716,690▼ $14,709
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$724,683$688,763▼ $35,920
Other Liabilities$15,736$13,969▼ $1,767
Accounts Payable and Accrued Expenses$16,457$5,646▼ $10,811
Total Liabilities$756,876$708,378▼ $48,498
Net Assets / Fund Balance
Total Net Assets Fund Balance$974,523$1,008,312▲ $33,789
Total Liabilities and Net Assets / Fund Balance$1,731,399$1,716,690▼ $14,709

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,339,552$926,223$2,265,775
Other Land Buildings$22,917$160,286$183,203
Leasehold Improvements$3,550$99,739$103,289
Land$100,000-$100,000
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Patricia QuaratellaPresident/Director
Bernard LewisDirector
Kevin FlynnMgmt Agent
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$300,250
Investment Income
$89
Other Revenue
$2,390
Change in Net Assets
$33,789

Audited Revenue Reconciliation

Revenue per Audited Statements
$302,729
Total Revenue per Audited Statements
$302,729
Total Revenue per Form 990
$302,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$228,268
Salaries, Compensation, and Employee Benefits$40,672
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$77,155--$77,155
Depreciation Depletion$70,834--$70,834
Other Salaries and Wages$35,029--$35,029
Fees for Services Management-$26,673-$26,673
Fees for Services Accounting-$7,350-$7,350
Interest$7,090--$7,090
Fees for Services Legal-$5,836-$5,836
Payroll Taxes$5,643--$5,643
Other Expenses$7,447$3,188-$3,188
Advertising$2,183--$2,183
Fees for Services Other-$520-$520
Total Functional Expenses$216,681$52,259$0$268,940

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$268,940
Total Expenses per Audited Statements$268,940
Total Expenses per Form 990$268,940
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$13,919
Prepaid Rents$50
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed by the board.”

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

“The tax-exempt organization's only asset is a 52 unit, usda funded, low-income housing apartment complex. All activity related to the usda funded, low-income housing apartment complex is managed by an independent management company and is audited annually by certified public accountants. The tax-exempt organization is small therefore there is no written conflict of interest policy but instead the management company discusses orally mattters that could give rise to conflicts.”

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

“All documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Smith Thomas Inc
EIN
59-3416911
Phone
7274491182
Address
516 LAKEVIEW ROAD UNIT 8, CLEARWATER, FL 33756

Signing Officer

Name
Kevin Flynn
Title
Mgmt Agent
Signed
2016-05-11
Discuss with paid preparer
Yes

Organization Details

Formed
1997
Legal Domicile
Fl
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Spoor Bunch Franz
Address
250 N BELCHER RD STE 100, Clearwater, FL 33765
Preparer
Bruce Taylor
Phone
7274416829
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0838
IRS990ScheduleA/InvestmentIncomeCYPct00.00060
IRS990ScheduleA/InvestmentIncomePYPct00.00080
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01692
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt02206
IRS990ScheduleA/OtherIncome509Grp/TotalAmt010486
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.99190
IRS990ScheduleA/PublicSupportPY509Pct00.99120
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0272769
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0273943
IRS990ScheduleA/Total509Grp/TotalAmt01389771
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0302729
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0286401
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0260918
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0274621
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0926223
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02265775
IRS990ScheduleD/ExpensesSubtotalAmt0268940
IRS990ScheduleD/LandGrp/BookValueAmt0100000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0100000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03550
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt099739
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0103289
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt022917
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0160286
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0183203
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt050
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt113919
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
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IRS990ScheduleD/TotalExpensesPerForm990Amt0268940
IRS990ScheduleD/TotalLiabilityAmt013969
IRS990ScheduleD/TotalRevenuePerForm990Amt0302729
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TAX-EXEMPT ORGANIZATION'S ONLY ASSET IS A 52 UNIT, USDA FUNDED, LOW-INCOME HOUSING APARTMENT COMPLEX. ALL ACTIVITY RELATED TO THE USDA FUNDED, LOW-INCOME HOUSING APARTMENT COMPLEX IS MANAGED BY AN INDEPENDENT MANAGEMENT COMPANY AND IS AUDITED ANNUALLY BY CERTIFIED PUBLIC ACCOUNTANTS. THE TAX-EXEMPT ORGANIZATION IS SMALL THEREFORE THERE IS NO WRITTEN CONFLICT OF INTEREST POLICY BUT INSTEAD THE MANAGEMENT COMPANY DISCUSSES ORALLY MATTTERS THAT COULD GIVE RISE TO CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0216681
IRS990/TotalFunctionalExpensesGrp/TotalAmt0268940
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0708378
IRS990/TotalLiabilitiesGrp/BOYAmt0756876
IRS990/TotalLiabilitiesGrp/EOYAmt0708378
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0974523
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01008312
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IRS990/TotalProgramServiceRevenueAmt0300250
IRS990/TotalRevenueGrp/ExclusionAmt02479
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0300250
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0302729
IRS990/TotalVolunteersCnt02
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01716690
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN FLYNN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MGMT AGENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SMITH THOMAS INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DBA SMITH THOMAS COURT
ReturnHeader/Filer/BusinessNameControlTxt0SMIT
ReturnHeader/Filer/EIN0593416911
ReturnHeader/Filer/PhoneNum07274491182
ReturnHeader/Filer/USAddress/AddressLine1Txt0516 LAKEVIEW ROAD UNIT 8

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,716,690
Liabilities
$708,378
Net assets
$1,008,312
Revenue
$302,729
Expenses
$268,940
Net income
$33,789
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.64$0.46$1.18$0.37$0.33$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.66$0.55$1.11$0.35$0.33$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.65$0.57$1.08$0.35$0.33$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.67$0.61$1.06$0.31$0.32$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.70$0.64$1.07$0.35$0.32$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.71$0.67$1.04$0.31$0.28$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.72$0.71$1.01$0.30$0.27$0.03
2013Detailed filing. Detailed filing data is available for this year.$1.80$0.78$1.02$0.26$0.31$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.94$0.85$1.09$0.28