Civic Intelligence

Smith Thomas Inc.

990 • Fiscal year 2013 • EIN 59-3416911

Jan 01, 2013 to Dec 31, 2013 • Filed on Jul 02, 2014

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

0.43x

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

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

92nd percentile

3.00x

Higher debt load relative to revenue than 92% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Net Margin

14th percentile

-19%

Higher net margin than 14% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

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

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Asset Growth

22nd percentile

-4.5%

Faster asset growth than 22% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$1,801,802

Down $138,711 (-7.1%) from 2011

Net Assets

Down

$1,019,420

Down $70,095 (-6.4%) from 2011

Liabilities

Down

$782,382

Down $68,616 (-8.1%) from 2011

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin14th percentile

Revenue

$260,918

No earlier filing loaded for comparison.

Expenses

Up

$310,895

Up $29,011 (+10%) from 2011

Net Income

-$49,977

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2013

Assets$1,801,802
Liabilities$782,382
Net Assets$1,019,420
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2013

Revenue$260,918
Expenses$310,895
Net Income-$49,977
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jul 2, 2014
Return Version
2013v3.1
Gross Receipts
$260,918
Mission and Program Overview

Mission

Provide Low-Income Housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,641,371$1,584,323▼ $57,048
Rtn Earn Endowment Incm Other Fnds$1,069,397$1,019,420▼ $49,977
Savings and Temporary Cash Investments$179,068$174,275▼ $4,793
Cash and Non-Interest-Bearing Accounts$40,571$24,769▼ $15,802
Accounts Receivable$11,728$11,750▲ $22
Intangible Assets$6,189$5,859▼ $330
Prepaid Expenses and Deferred Charges$7,821$826▼ $6,995
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$1,886,748$1,801,802▼ $84,946
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$795,511$760,259▼ $35,252
Other Liabilities$18,324$16,499▼ $1,825
Accounts Payable and Accrued Expenses$3,516$5,624▲ $2,108
Total Liabilities$817,351$782,382▼ $34,969
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,069,397$1,019,420▼ $49,977
Total Liabilities and Net Assets / Fund Balance$1,886,748$1,801,802▼ $84,946

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,452,840$812,935$2,265,775
Other Land Buildings$23,451$136,915$160,366
Leasehold Improvements$8,032$95,257$103,289
Land$100,000-$100,000
Compensation and Service Providers
Top Officer Pay38th 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
$259,243
Investment Income
$161
Other Revenue
$1,514
Change in Net Assets
$-49,977

Audited Revenue Reconciliation

Revenue per Audited Statements
$260,918
Total Revenue per Audited Statements
$260,918
Total Revenue per Form 990
$260,918
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$262,747
Salaries, Compensation, and Employee Benefits$48,148
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$96,532--$96,532
Depreciation Depletion$70,428--$70,428
Other Salaries and Wages$41,941--$41,941
Fees for Services Management-$22,450-$22,450
Interest$7,792--$7,792
Payroll Taxes$6,207--$6,207
Fees for Services Accounting-$4,500-$4,500
Other Expenses$12,606$3,041-$3,041
Advertising$2,532--$2,532
Fees for Services Legal-$1,151-$1,151
Fees for Services Other-$520-$520
Total Functional Expenses$270,203$40,692$0$310,895

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$310,895
Total Expenses per Audited Statements$310,895
Total Expenses per Form 990$310,895
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$16,499
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

EIN
59-3416911
Phone
7274491182

Signing Officer

Name
Kevin Flynn
Title
Mgmt Agent
Signed
2014-07-02
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

Preparer
George E Morris
Phone
7274416829
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0349
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0525
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IRS990ScheduleA/InvestmentIncomeCYPct00.00110
IRS990ScheduleA/InvestmentIncomePYPct00.00200
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt02923
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt01446
IRS990ScheduleA/OtherIncome509Grp/TotalAmt09781
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.99190
IRS990ScheduleA/PublicSupportPY509Pct00.99090
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0259243
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0272769
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0273943
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0283078
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0285621
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0260918
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0274621
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0276426
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0286350
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0812935
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02265775
IRS990ScheduleD/ExpensesSubtotalAmt0310895
IRS990ScheduleD/LandGrp/BookValueAmt0100000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0100000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt08032
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt095257
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0103289
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt023451
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0136915
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0160366
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016499
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0260918
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01584323
IRS990ScheduleD/TotalExpensesPerForm990Amt0310895
IRS990ScheduleD/TotalLiabilityAmt016499
IRS990ScheduleD/TotalRevenuePerForm990Amt0260918
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0260918
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0310895
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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/TaxableDistributionsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0270203
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalProgramServiceExpensesAmt0270203
IRS990/TotalProgramServiceRevenueAmt0259243
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0259243
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IRS990/TotalVolunteersCnt02
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01801802
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IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN FLYNN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MGMT AGENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-07-02
ReturnHeader/Filer/BusinessName/BusinessNameLine10SMITH THOMAS INC
ReturnHeader/Filer/BusinessName/BusinessNameLine20DBA SMITH THOMAS COURT
ReturnHeader/Filer/BusinessNameControlTxt0SMIT
ReturnHeader/Filer/EIN0593416911
ReturnHeader/Filer/PhoneNum07274491182
ReturnHeader/Filer/USAddress/AddressLine10516 LAKEVIEW ROAD UNIT 8
ReturnHeader/Filer/USAddress/City0CLEARWATER
ReturnHeader/Filer/USAddress/State0FL

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,801,802
Liabilities
$782,382
Net assets
$1,019,420
Revenue
$260,918
Expenses
$310,895
Net income
-$49,977
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
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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