Civic Intelligence

Smith Thomas Inc.

990 • Fiscal year 2014 • EIN 59-3416911

Jan 01, 2014 to Dec 31, 2014 • Filed on May 07, 2015

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

0.44x

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

91st percentile

2.64x

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

16th percentile

-16%

Higher net margin than 16% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

23rd percentile

-3.9%

Faster asset growth than 23% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

63rd percentile

9.8%

Faster revenue growth than 63% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$1,731,399

Down $70,403 (-3.9%) from 2013

Net Assets

Down

$974,523

Down $44,897 (-4.4%) from 2013

Liabilities

Down

$756,876

Down $25,506 (-3.3%) from 2013

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin16th percentile

Revenue

Up

$286,401

Up $25,483 (+9.8%) from 2013

Expenses

Up

$331,298

Up $20,403 (+6.6%) from 2013

Net Income

Up

-$44,897

Up $5,080 (+10%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth23rd 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 2014: $1,731,399Liabilities 2014: $756,876Net Assets 2014: $974,5232014Assets 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

2014

Assets$1,731,399
Liabilities$756,876
Net Assets$974,523
Open 2014 Filing

Operations Trend

Revenue Growth63rd 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 2014: $286,401Expenses 2014: $331,298Net Income 2014: -$44,8972014Revenue 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

2014

Revenue$286,401
Expenses$331,298
Net Income-$44,897
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 7, 2015
Return Version
2014v5.0
Gross Receipts
$286,401
Mission and Program Overview

Mission

Provide Low-Income Housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,584,323$1,523,473▼ $60,850
Rtn Earn Endowment Incm Other Fnds$1,019,420$974,523▼ $44,897
Savings and Temporary Cash Investments$174,275$171,178▼ $3,097
Cash and Non-Interest-Bearing Accounts$24,769$18,338▼ $6,431
Accounts Receivable$11,750$9,859▼ $1,891
Intangible Assets$5,859$5,529▼ $330
Prepaid Expenses and Deferred Charges$826$3,022▲ $2,196
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$1,801,802$1,731,399▼ $70,403
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$760,259$724,683▼ $35,576
Accounts Payable and Accrued Expenses$5,624$16,457▲ $10,833
Other Liabilities$16,499$15,736▼ $763
Total Liabilities$782,382$756,876▼ $25,506
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,019,420$974,523▼ $44,897
Total Liabilities and Net Assets / Fund Balance$1,801,802$1,731,399▼ $70,403

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,396,196$869,579$2,265,775
Other Land Buildings$21,486$148,667$170,153
Leasehold Improvements$5,791$97,498$103,289
Land$100,000-$100,000
Compensation and Service Providers
Top Officer Pay34th 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
$283,566
Investment Income
$151
Other Revenue
$2,684
Change in Net Assets
$-44,897

Audited Revenue Reconciliation

Revenue per Audited Statements
$286,401
Total Revenue per Audited Statements
$286,401
Total Revenue per Form 990
$286,401
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$266,616
Salaries, Compensation, and Employee Benefits$64,682
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$114,572--$114,572
Depreciation Depletion$70,967--$70,967
Other Salaries and Wages$53,117--$53,117
Fees for Services Management-$24,300-$24,300
Payroll Taxes$11,565--$11,565
Interest$7,436--$7,436
Fees for Services Accounting-$7,350-$7,350
Advertising$3,280--$3,280
Other Expenses$10,059$3,116-$3,116
Fees for Services Legal-$1,604-$1,604
Fees for Services Other-$520-$520
Total Functional Expenses$284,589$46,709$0$331,298

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$331,298
Total Expenses per Audited Statements$331,298
Total Expenses per Form 990$331,298
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$15,734
Prepaid Rents$2
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
2015-05-07
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
Spence Marston Bunch Morris & Co
Address
250 North Belcher Road Suite 100, Clearwater, FL 33765-2622
Preparer
Bruce Taylor
Phone
7274416829
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt05791
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt097498
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0103289
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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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ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN FLYNN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MGMT AGENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-07
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

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,731,399
Liabilities
$756,876
Net assets
$974,523
Revenue
$286,401
Expenses
$331,298
Net income
-$44,897
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
2014Detailed filing. Detailed filing data is available for this year.$1.73$0.76$0.97$0.29$0.33$0.04
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