Civic Intelligence

Housing Now - Flaget Inc

990 • Fiscal year 2017 • EIN 61-1073244

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 05, 2018

Organization Profile
2171 Judicial Drive Suite 200Germantown, TN 38138

(901) 759-1855

Siviq Scores

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

Liabilities / Assets

98th percentile

1.82x

Higher debt load relative to assets than 98% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

92nd percentile

2.67x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

67th percentile

10%

Higher net margin than 67% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

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.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

13th percentile

-8.3%

Faster asset growth than 13% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

55th percentile

6.5%

Faster revenue growth than 55% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$1,413,579

Down $128,506 (-8.3%) from 2016

Net Assets

Down

-$1,157,504

Down $24,188 (-2.1%) from 2016

Liabilities

Down

$2,571,083

Down $104,318 (-3.9%) from 2016

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin67th percentile

Revenue

Up

$963,090

Up $58,581 (+6.5%) from 2016

Expenses

Up

$862,796

Up $70,617 (+8.9%) from 2016

Net Income

Down

$100,294

Down $12,036 (-11%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2010: $1,632,284Liabilities 2010: $2,888,494Net Assets 2010: -$1,256,2102010Assets 2011: $1,604,820Liabilities 2011: $2,857,075Net Assets 2011: -$1,252,2552011Assets 2012: $1,530,129Liabilities 2012: $2,846,702Net Assets 2012: -$1,316,5732012Assets 2013: $1,502,640Liabilities 2013: $2,782,918Net Assets 2013: -$1,280,2782013Assets 2014: $1,426,184Liabilities 2014: $2,742,424Net Assets 2014: -$1,316,2402014Assets 2015: $1,443,402Liabilities 2015: $2,689,048Net Assets 2015: -$1,245,6462015Assets 2016: $1,542,085Liabilities 2016: $2,675,401Net Assets 2016: -$1,133,3162016Assets 2017: $1,413,579Liabilities 2017: $2,571,083Net Assets 2017: -$1,157,5042017Assets 2018: $1,357,047Liabilities 2018: $2,561,587Net Assets 2018: -$1,204,5402018Assets 2019: $1,346,815Liabilities 2019: $2,438,220Net Assets 2019: -$1,091,4052019Assets 2020: $1,437,462Liabilities 2020: $2,381,464Net Assets 2020: -$944,0022020Assets 2021: $1,455,012Liabilities 2021: $2,412,449Net Assets 2021: -$957,4372021Assets 2022: $1,453,379Liabilities 2022: $2,224,164Net Assets 2022: -$770,7852022Assets 2023: $1,489,630Liabilities 2023: $2,174,648Net Assets 2023: -$685,0182023Assets 2024: $1,571,728Liabilities 2024: $2,061,148Net Assets 2024: -$489,4202024

Highlighted filing

2017

Assets$1,413,579
Liabilities$2,571,083
Net Assets-$1,157,504
Open 2017 Filing

Operations Trend

Revenue Growth55th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $723,9622010Expenses 2011: $761,2372011Expenses 2012: $831,7492012Revenue 2013: $885,308Expenses 2013: $849,013Net Income 2013: $36,2952013Revenue 2014: $926,206Expenses 2014: $962,168Net Income 2014: -$35,9622014Revenue 2015: $938,167Expenses 2015: $867,573Net Income 2015: $70,5942015Revenue 2016: $904,509Expenses 2016: $792,179Net Income 2016: $112,3302016Revenue 2017: $963,090Expenses 2017: $862,796Net Income 2017: $100,2942017Revenue 2018: $975,255Expenses 2018: $881,628Net Income 2018: $93,6272018Revenue 2019: $977,337Expenses 2019: $864,202Net Income 2019: $113,1352019Revenue 2020: $998,743Expenses 2020: $851,340Net Income 2020: $147,4032020Revenue 2021: $979,878Expenses 2021: $993,313Net Income 2021: -$13,4352021Revenue 2022: $982,426Expenses 2022: $795,774Net Income 2022: $186,6522022Revenue 2023: $1,081,580Expenses 2023: $995,813Net Income 2023: $85,7672023Revenue 2024: $1,155,967Expenses 2024: $960,369Net Income 2024: $195,5982024

Highlighted filing

2017

Revenue$963,090
Expenses$862,796
Net Income$100,294
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 5, 2018
Return Version
2017v2.3
Gross Receipts
$963,090
Mission and Program Overview

Mission

To provide low income rental housing to the elderly.

Housing now - flaget inc. Is a non-profit, no stock corporation which operates apartments in louisville, ky.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$658,177$611,721▼ $46,456
Cash and Non-Interest-Bearing Accounts$223,618$93,889▼ $129,729
Prepaid Expenses and Deferred Charges$14,691$15,295▲ $604
Accounts Receivable$101$2,695▲ $2,594
Total Assets$1,542,085$1,413,579▼ $128,506
Other Assets Total$645,498$689,979▲ $44,481
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,592,358$2,527,354▼ $65,004
Accounts Payable and Accrued Expenses$69,101$29,701▼ $39,400
Other Liabilities$13,942$14,028▲ $86
Total Liabilities$2,675,401$2,571,083▼ $104,318
Net Assets / Fund Balance
Unrestricted Net Assets$-1,133,316$-1,157,504▼ $24,188
Total Net Assets Fund Balance$-1,133,316$-1,157,504▼ $24,188
Total Liabilities and Net Assets / Fund Balance$1,542,085$1,413,579▼ $128,506

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$336,381$3,004,721$3,341,102
Land$250,500-$250,500
Equipment$24,840$132,459$157,299
Other Assets Org$20,215--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Terry JohnsonPresident
Eddy ChesterOfficer
Ed RussellSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$962,848
Investment Income
$242
Other Revenue
$0
Change in Net Assets
$100,294

Audited Revenue Reconciliation

Revenue per Audited Statements
$963,090
Total Revenue per Audited Statements
$963,090
Total Revenue per Form 990
$963,090
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$785,172
Salaries, Compensation, and Employee Benefits$77,624
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$468,063--$468,063
Depreciation Depletion$119,039--$119,039
Interest$100,248--$100,248
Fees for Services Management$20,737$31,106-$51,843
Other Salaries and Wages$44,832--$44,832
Other Employee Benefits$23,330--$23,330
Office Expenses-$22,401-$22,401
Advertising-$12,284-$12,284
Payroll Taxes$9,462--$9,462
Fees for Services Accounting-$6,820-$6,820
Fees for Services Legal-$4,474-$4,474
Total Functional Expenses$785,711$77,085$0$862,796

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$862,796
Total Expenses per Audited Statements$862,796
Total Expenses per Form 990$862,796
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$13,600
Deferred Rents$428
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization delegated day to day property management operations to a 3rd party professional property management organization.”

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

“The form 990 will be reviewed by the governing body prior to filing.”

Form 990, Page 6, Part VI, Line 19

“The organization has the governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Housing Now - Flaget Inc
EIN
61-1073244
Phone
9017591855
Address
2171 JUDICIAL DRIVE SUITE 200, GERMANTOWN, TN 38138

Signing Officer

Name
Terry Johnson
Title
President
Phone
9017591855
Signed
2018-04-05

Organization Details

Principal Officer
Terry Johnson
Voting Board Members
3
Independent Board Members
3
Employees
2

Preparer

Firm
Rowland & Carter Cpas Pllc
Address
7953 STAGE HILLS BLVD STE 110, MEMPHIS, TN 38133-4010
Preparer
Michael H Kaspar
Phone
9014323000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Residual receipts recapture -124,482 hud recaptured excess residual receipts during the year.”

Raw XML Appendix330 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATED DAY TO DAY PROPERTY MANAGEMENT OPERATIONS TO A 3RD PARTY PROFESSIONAL PROPERTY MANAGEMENT ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WILL BE REVIEWED BY THE GOVERNING BODY PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RESIDUAL RECEIPTS RECAPTURE -124,482 HUD RECAPTURED EXCESS RESIDUAL RECEIPTS DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01542085
IRS990/TotalAssetsEOYAmt01413579
IRS990/TotalAssetsGrp/BOYAmt01542085
IRS990/TotalAssetsGrp/EOYAmt01413579
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt077085
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0785711
IRS990/TotalFunctionalExpensesGrp/TotalAmt0862796
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02675401
IRS990/TotalLiabilitiesEOYAmt02571083
IRS990/TotalLiabilitiesGrp/BOYAmt02675401
IRS990/TotalLiabilitiesGrp/EOYAmt02571083
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1133316
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1157504
IRS990/TotalProgramServiceExpensesAmt0785711
IRS990/TotalProgramServiceRevenueAmt0962848
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0963090
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0963090
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01542085
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01413579
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1133316
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1157504
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0TERRY JOHNSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09017591855
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOUSING NOW - FLAGET INC
ReturnHeader/Filer/BusinessNameControlTxt0HOUS
ReturnHeader/Filer/EIN0611073244
ReturnHeader/Filer/PhoneNum09017591855
ReturnHeader/Filer/USAddress/AddressLine1Txt02171 JUDICIAL DRIVE SUITE 200
ReturnHeader/Filer/USAddress/CityNm0GERMANTOWN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038138
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId02B352FC16769E6886191307BDE1DDD211C64FEBC
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03D1D9A3801B3BD6B84CDB290F4797998096D8834
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.246.51.3
ReturnHeader/FilingSecurityInformation/IPDt02018-05-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:18:08
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621587083
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROWLAND & CARTER CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07953 STAGE HILLS BLVD STE 110
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0381334010
ReturnHeader/PreparerPersonGrp/PhoneNum09014323000
ReturnHeader/PreparerPersonGrp/PreparationDt02018-04-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL H KASPAR
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-05-09T14:18:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,413,579
Liabilities
$2,571,083
Net assets
-$1,157,504
Revenue
$963,090
Expenses
$862,796
Net income
$100,294
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$2.06$0.49$1.16$0.96$0.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.49$2.17$0.69$1.08$1.00$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.45$2.22$0.77$0.98$0.80$0.19
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.46$2.41$0.96$0.98$0.99$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.44$2.38$0.94$1.00$0.85$0.15
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$2.44$1.09$0.98$0.86$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$2.56$1.20$0.98$0.88$0.09
2017Detailed filing. Detailed filing data is available for this year.$1.41$2.57$1.16$0.96$0.86$0.10
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.54$2.68$1.13$0.90$0.79$0.11
2015Detailed filing. Detailed filing data is available for this year.$1.44$2.69$1.25$0.94$0.87$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.43$2.74$1.32$0.93$0.96$0.04
2013Detailed filing. Detailed filing data is available for this year.$1.50$2.78$1.28$0.89$0.85$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.53$2.85$1.32$0.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.60$2.86$1.25$0.76
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.63$2.89$1.26$0.72