Civic Intelligence

Smith Thomas Inc.

990 • Fiscal year 2020 • EIN 59-3416911

Jan 01, 2020 to Dec 31, 2020 • Filed on May 21, 2021

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

72nd percentile

0.33x

Higher debt load relative to assets than 72% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

89th percentile

1.54x

Higher debt load relative to revenue than 89% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

55th percentile

7.7%

Higher net margin than 55% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

34th percentile

0.5%

Faster asset growth than 34% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

50th percentile

0.8%

Faster revenue growth than 50% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$1,658,060

Up $8,239 (+0.5%) from 2019

Net Assets

Up

$1,110,889

Up $27,423 (+2.5%) from 2019

Liabilities

Down

$547,171

Down $19,184 (-3.4%) from 2019

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin55th percentile

Revenue

Up

$354,687

Up $2,754 (+0.8%) from 2019

Expenses

Down

$327,264

Down $252 (-0.1%) from 2019

Net Income

Up

$27,423

Up $3,006 (+12%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth34th 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

2020

Assets$1,658,060
Liabilities$547,171
Net Assets$1,110,889
Open 2020 Filing

Operations Trend

Revenue Growth50th 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

2020

Revenue$354,687
Expenses$327,264
Net Income$27,423
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 21, 2021
Return Version
2020v4.0
Gross Receipts
$354,687
Mission and Program Overview

Mission

Provide Low-Income Housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,289,028$1,245,827▼ $43,201
Rtn Earn Endowment Incm Other Fnds$1,083,466$1,110,889▲ $27,423
Savings and Temporary Cash Investments$251,391$279,405▲ $28,014
Cash and Non-Interest-Bearing Accounts$84,761$105,199▲ $20,438
Accounts Receivable$13,509$15,074▲ $1,565
Prepaid Expenses and Deferred Charges$7,253$9,007▲ $1,754
Intangible Assets$3,879$3,548▼ $331
Total Assets$1,649,821$1,658,060▲ $8,239
Liabilities
Mortgage Notes Payable Secured by Investment Property$541,403$503,632▼ $37,771
Accounts Payable and Accrued Expenses$3,854$21,868▲ $18,014
Other Liabilities$21,098$21,671▲ $573
Total Liabilities$566,355$547,171▼ $19,184
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,083,466$1,110,889▲ $27,423
Total Liabilities and Net Assets / Fund Balance$1,649,821$1,658,060▲ $8,239

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,077,669$1,314,908$2,392,577
Equipment$25,233$129,895$155,128
Land$100,000-$100,000
Other Land Buildings$42,925$13,788$56,713
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$350,203
Investment Income
$502
Other Revenue
$3,982
Change in Net Assets
$27,423

Audited Revenue Reconciliation

Revenue per Audited Statements
$354,687
Total Revenue per Audited Statements
$354,687
Total Revenue per Form 990
$354,687
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$263,678
Salaries, Compensation, and Employee Benefits$63,586
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$102,548--$102,548
Depreciation Depletion$78,058--$78,058
Other Salaries and Wages$56,851--$56,851
Fees for Services Management-$36,180-$36,180
Interest$5,210--$5,210
Payroll Taxes$4,152--$4,152
Other Expenses$3,843$12,422-$3,843
Fees for Services Accounting-$3,460-$3,460
Fees for Services Legal-$2,057-$2,057
Other Employee Benefits$1,906--$1,906
Advertising$1,225--$1,225
Pension Plan Contributions$677--$677
Total Functional Expenses$273,145$54,119$0$327,264

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$327,264
Total Expenses per Audited Statements$327,264
Total Expenses per Form 990$327,264
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
Tenant Security Deposits$21,669
Prepaid Rents$2
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8A

“Please see explanation for part vi, line 12c.”

Form 990, Page 6, Part VI, Line 8B

“The organization does not have any committee with authority to act on behalf of the governing body.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the board of directors.”

Form 990, Page 6, Part VI, Line 12C

“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 matters that could give rise to conflicts.”

Form 990, Page 6, Part VI, Line 19

“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
Doing Business As
Smith Thomas Court

Signing Officer

Name
Kevin Flynn
Title
Mgmt Agent
Phone
7274491182
Signed
2021-05-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Flynn
Formed
1997
Legal Domicile
Fl
Voting Board Members
2
Independent Board Members
2
Employees
0

Preparer

Firm
Spoor Bunch Franz
Address
877 EXECUTIVE CENTER DR W STE 100, SAINT PETERSBURG, FL 33702-2470
Preparer
Bruce Taylor
Phone
7278889200
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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/OtherLandBuildingsGrp/DepreciationAmt013788
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt056713
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021669
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID RENTS
IRS990ScheduleD/RevenueSubtotalAmt0354687
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01245827
IRS990ScheduleD/TotalExpensesPerForm990Amt0327264
IRS990ScheduleD/TotalLiabilityAmt021671
IRS990ScheduleD/TotalRevenuePerForm990Amt0354687
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0354687
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0327264
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PLEASE SEE EXPLANATION FOR PART VI, LINE 12C.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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 MATTERS THAT COULD GIVE RISE TO CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01649821
IRS990/TotalAssetsEOYAmt01658060
IRS990/TotalAssetsGrp/BOYAmt01649821
IRS990/TotalAssetsGrp/EOYAmt01658060
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt054119
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0273145
IRS990/TotalFunctionalExpensesGrp/TotalAmt0327264
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0566355
IRS990/TotalLiabilitiesEOYAmt0547171
IRS990/TotalLiabilitiesGrp/BOYAmt0566355
IRS990/TotalLiabilitiesGrp/EOYAmt0547171
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01083466
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01110889
IRS990/TotalProgramServiceExpensesAmt0273145
IRS990/TotalProgramServiceRevenueAmt0350203
IRS990/TotalRevenueGrp/ExclusionAmt04484
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0350203
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0354687
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01649821
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01658060
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0516 LAKEVIEW ROAD UNIT 8
IRS990/USAddress/CityNm0CLEARWATER
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033756
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN FLYNN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MGMT AGENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07274491182
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SMITH THOMAS INC
ReturnHeader/Filer/BusinessNameControlTxt0SMIT
ReturnHeader/Filer/EIN0593416911
ReturnHeader/Filer/PhoneNum07274491182
ReturnHeader/Filer/USAddress/AddressLine1Txt0516 LAKEVIEW ROAD UNIT 8
ReturnHeader/Filer/USAddress/CityNm0CLEARWATER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033756
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364818378
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SPOOR BUNCH FRANZ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0877 EXECUTIVE CENTER DR W STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAINT PETERSBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0337022470
ReturnHeader/PreparerPersonGrp/PhoneNum07278889200
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRUCE TAYLOR
ReturnHeader/ReturnTs02021-05-24T10:32:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEVIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FLYNN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,658,060
Liabilities
$547,171
Net assets
$1,110,889
Revenue
$354,687
Expenses
$327,264
Net income
$27,423
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
2020Detailed filing. Detailed filing data is available for this year.$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