Civic Intelligence

Smith Thomas Inc.

990 • Fiscal year 2021 • EIN 59-3416911

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 08, 2022

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

0.30x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

89th percentile

1.33x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

46th percentile

10%

Higher net margin than 46% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

25th percentile

-0.6%

Faster asset growth than 25% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

41st percentile

5.2%

Faster revenue growth than 41% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$1,647,704

Down $10,356 (-0.6%) from 2020

Net Assets

Up

$1,149,905

Up $39,016 (+3.5%) from 2020

Liabilities

Down

$497,799

Down $49,372 (-9.0%) from 2020

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin46th percentile

Revenue

Up

$373,250

Up $18,563 (+5.2%) from 2020

Expenses

Up

$334,234

Up $6,970 (+2.1%) from 2020

Net Income

Up

$39,016

Up $11,593 (+42%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth25th 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 2021: $1,647,704Liabilities 2021: $497,799Net Assets 2021: $1,149,9052021Assets 2022: $1,641,863Liabilities 2022: $461,051Net Assets 2022: $1,180,8122022

Highlighted filing

2021

Assets$1,647,704
Liabilities$497,799
Net Assets$1,149,905
Open 2021 Filing

Operations Trend

Revenue Growth41st 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 2021: $373,250Expenses 2021: $334,234Net Income 2021: $39,0162021Revenue 2022: $365,346Expenses 2022: $334,439Net Income 2022: $30,9072022

Highlighted filing

2021

Revenue$373,250
Expenses$334,234
Net Income$39,016
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 8, 2022
Return Version
2021v4.0
Gross Receipts
$373,250
Mission and Program Overview

Mission

Provide Low-Income Housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,245,827$1,175,541▼ $70,286
Rtn Earn Endowment Incm Other Fnds$1,110,889$1,149,905▲ $39,016
Savings and Temporary Cash Investments$279,405$292,644▲ $13,239
Cash and Non-Interest-Bearing Accounts$105,199$152,903▲ $47,704
Accounts Receivable$15,074$13,124▼ $1,950
Prepaid Expenses and Deferred Charges$9,007$10,274▲ $1,267
Intangible Assets$3,548$3,218▼ $330
Total Assets$1,658,060$1,647,704▼ $10,356
Liabilities
Mortgage Notes Payable Secured by Investment Property$503,632$465,483▼ $38,149
Other Liabilities$21,671$24,539▲ $2,868
Accounts Payable and Accrued Expenses$21,868$7,777▼ $14,091
Total Liabilities$547,171$497,799▼ $49,372
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,110,889$1,149,905▲ $39,016
Total Liabilities and Net Assets / Fund Balance$1,658,060$1,647,704▼ $10,356

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,020,032$1,269,258$2,289,290
Equipment$16,877$138,540$155,417
Land$100,000-$100,000
Other Land Buildings$38,632$18,081$56,713
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Patricia Quaratella Through 1121President/di
Bernard LewisDirector
Kristin ScottDirector
Michael BishopDirector
Kevin FlynnMgmt Agent
Revenue and Support

Revenue Composition

Contributions and Grants
$11,395
Program Service Revenue
$358,937
Investment Income
$283
Other Revenue
$2,635
Change in Net Assets
$39,016

Audited Revenue Reconciliation

Revenue per Audited Statements
$373,250
Total Revenue per Audited Statements
$373,250
Total Revenue per Form 990
$373,250
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$281,636
Salaries, Compensation, and Employee Benefits$52,598
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$114,249--$114,249
Depreciation Depletion$74,156--$74,156
Other Salaries and Wages$46,235--$46,235
Fees for Services Management-$36,890-$36,890
Fees for Services Legal-$5,432-$5,432
Interest$4,830--$4,830
Other Expenses$3,953$9,379-$3,953
Fees for Services Accounting-$3,713-$3,713
Payroll Taxes$3,588--$3,588
Other Employee Benefits$1,486--$1,486
Pension Plan Contributions$1,289--$1,289
Advertising$225--$225
Total Functional Expenses$278,820$55,414$0$334,234

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$334,234
Total Expenses per Audited Statements$334,234
Total Expenses per Form 990$334,234
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$24,419
Prepaid Rents$120
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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 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. 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
2022-03-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Flynn
Formed
1997
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0314093
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0348069
IRS990ScheduleA/Total509Grp/TotalAmt01739856
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01269258
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02289290
IRS990ScheduleD/EquipmentGrp/BookValueAmt016877
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0138540
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0155417
IRS990ScheduleD/ExpensesSubtotalAmt0334234
IRS990ScheduleD/LandGrp/BookValueAmt0100000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0100000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt038632
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt018081
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt056713
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024419
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1120
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID RENTS
IRS990ScheduleD/RevenueSubtotalAmt0373250
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01175541
IRS990ScheduleD/TotalExpensesPerForm990Amt0334234
IRS990ScheduleD/TotalLiabilityAmt024539
IRS990ScheduleD/TotalRevenuePerForm990Amt0373250
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0373250
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE ANY COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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. 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/ExplanationTxt3ALL DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 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/TotalAssetsBOYAmt01658060
IRS990/TotalAssetsEOYAmt01647704
IRS990/TotalAssetsGrp/BOYAmt01658060
IRS990/TotalAssetsGrp/EOYAmt01647704
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IRS990/TotalContributionsAmt011395
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt055414
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0278820
IRS990/TotalFunctionalExpensesGrp/TotalAmt0334234
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0547171
IRS990/TotalLiabilitiesEOYAmt0497799
IRS990/TotalLiabilitiesGrp/BOYAmt0547171
IRS990/TotalLiabilitiesGrp/EOYAmt0497799
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01110889
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01149905
IRS990/TotalProgramServiceExpensesAmt0278820
IRS990/TotalProgramServiceRevenueAmt0358937
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0358937
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01647704
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0516 LAKEVIEW ROAD UNIT 8
IRS990/USAddress/CityNm0CLEARWATER
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033756
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
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/SignatureDt02022-03-08
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/PreparationDt02022-03-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRUCE TAYLOR
ReturnHeader/ReturnTs02022-03-21T13:31:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEVIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FLYNN
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,647,704
Liabilities
$497,799
Net assets
$1,149,905
Revenue
$373,250
Expenses
$334,234
Net income
$39,016
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
2021Detailed filing. Detailed filing data is available for this year.$1.65$0.50$1.15$0.37$0.33$0.04
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