Civic Intelligence

Cwa Apartments Inc

EIN 62-0726909 • 501(c)4 • Nashville, TN

Profile

Cwa apartments, inc.s sole mission was to own and operate a 178-unit low-income housing apartment complex under section 221d3 of the national housing act. All expenses are for the operation and maintenance of this apartment complex.

2911 Elm Hill PikeNashville, TN 37214
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2015

Liabilities / Revenue

22nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)4 • $5M-$10M nonprofits • Source year 2015

Net Margin

96th percentile

89%

Higher net margin than 96% of similar nonprofits.

501(c)4 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

45th percentile

$0

Higher top officer pay than 45% of similar nonprofits.

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

501(c)4 • $5M-$10M nonprofits • Source year 2015

Asset Growth

3rd percentile

-100%

Faster asset growth than 3% of similar nonprofits.

501(c)4 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

84th percentile

136%

Faster revenue growth than 84% of similar nonprofits.

501(c)4 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Down

$0

Down $3,478,365 (-100%) from 2014

Liabilities

Down

$0

Down $4,563,424 (-100%) from 2014

Net Assets

Up

$0

Up $1,085,059 (+100%) from 2014

Revenue

Up

$3,400,043

Up $1,961,620 (+136%) from 2014

Expenses

Down

$373,624

Down $1,156,827 (-76%) from 2014

Net Income

Up

$3,026,419

Up $3,118,447 (+3389%) from 2014

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $3,467,552Liabilities 2011: $4,185,575Net Assets 2011: -$718,0232011Assets 2012: $3,344,051Liabilities 2012: $4,211,296Net Assets 2012: -$867,2452012Assets 2013: $3,287,303Liabilities 2013: $4,280,334Net Assets 2013: -$993,0312013Assets 2014: $3,478,365Liabilities 2014: $4,563,424Net Assets 2014: -$1,085,0592014Assets 2015: $0Liabilities 2015: $0Net Assets 2015: $02015

Highlighted filing

2015

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,476,5752011Revenue 2012: $1,397,148Expenses 2012: $1,546,370Net Income 2012: -$149,2222012Revenue 2013: $1,444,756Expenses 2013: $1,570,542Net Income 2013: -$125,7862013Revenue 2014: $1,438,423Expenses 2014: $1,530,451Net Income 2014: -$92,0282014Revenue 2015: $3,400,043Expenses 2015: $373,624Net Income 2015: $3,026,4192015

Highlighted filing

2015

Revenue$3,400,043
Expenses$373,624
Net Income$3,026,419

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Aug 12, 2016
Return Version
2014v6.0
Gross Receipts
$6,697,742
Mission and Program Overview

Mission

Cwa apartments, inc.s sole mission was to own and operate a 178-unit low-income housing apartment complex under section 221d3 of the national housing act. All expenses are for the operation and maintenance of this apartment complex.

Cwa apartments, inc.s sole mission is to own and operate a 178-unit low-income housing apt complex under section 221d3 of the national housing act. The oversight of this apt complex was its only activity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,672,847--
Cash and Non-Interest-Bearing Accounts$42,645--
Accounts Receivable$15,635--
Prepaid Expenses and Deferred Charges$14,487--
Total Assets$3,478,365$0▼ $3,478,365
Other Assets Total$732,751--
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,508,629--
Accounts Payable and Accrued Expenses$760,259--
Other Liabilities$291,112--
Deferred Revenue$3,424--
Total Liabilities$4,563,424$0▼ $4,563,424
Net Assets / Fund Balance
Unrestricted Net Assets$-1,085,059--
Total Net Assets Fund Balance$-1,085,059$0▲ $1,085,059
Total Liabilities and Net Assets / Fund Balance$3,478,365$0▼ $3,478,365
Compensation and Service Providers

Board Members and Trustees

NameTitle
Roger WomblePresident
Mike GumnVice-president
Becky WombleSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$327,742
Investment Income
$3,072,301
Other Revenue
$0
Change in Net Assets
$3,026,419

Audited Revenue Reconciliation

Revenue per Audited Statements
$327,742
Revenue Not Reported on Financial Statements
$3,072,301
Other Revenue Adjustments
$3,072,301
Total Revenue per Audited Statements
$327,742
Total Revenue per Form 990
$3,400,043
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$314,627
Salaries, Compensation, and Employee Benefits$58,997
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$58,429--$58,429
Other Salaries and Wages$54,893--$54,893
Depreciation Depletion$38,681--$38,681
Fees for Services Management$35,980--$35,980
Insurance$21,950--$21,950
Other Expenses$20,169--$20,169
Fees for Services Accounting$19,295--$19,295
Interest$7,594--$7,594
Office Expenses$4,805--$4,805
Payroll Taxes$4,104--$4,104
Fees for Services Legal$2,459--$2,459
All Other Expenses$1,227--$1,227
Conferences and Meetings$1,009--$1,009
Advertising$60--$60
Total Functional Expenses$373,624$0$0$373,624

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$373,624
Expenses per Audited Statements$364,874
Total Expenses per Audited Statements$364,874
Expenses Not Reported on Financial Statements$8,750
Other Expense Adjustments$8,750
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

The president and the secretary are married.

Form 990, Part VI, Section A, Line 3

The day-to-day management of the apartment complex was handled by tamco property management, llc, a professional real estate management company specializing in hud properties.

Form 990, Part VI, Section B, Line 11A, 11B

The board president reviews the form 990 with the cpa before it is filed. The return is then generally made available for review to all board members at the next scheduled board meeting.

Form 990, Part VI, Section C, Line 19

All information related to the organization is made available to the public upon request. Financial statements are filed annually with both the office of management and budget omb and the department of housing and urban development hud pursuant to circular a-133. Legal documents related to governance are filed with the secretary of state. There is no formal conflict of interest policy but the organizations by-laws prohibit the receipt of compensation by any board member.

Filing and Contact Details

Filer

Filer Name
Cwa Apartments Inc
EIN
62-0726909
Phone
6158843712
Address
2911 ELM HILL PIKE, NASHVILLE, TN 37214

Signing Officer

Name
Roger Womble
Title
Board President
Signed
2016-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roger Womble
Formed
1962
Legal Domicile
Tn
Voting Board Members
6
Independent Board Members
6
Employees
7

Preparer

Firm
Lincoln Coggin CPA
Address
8300 Alamo Road, Brentwood, TN 37027
Preparer
Lincoln Coggin
Phone
6156615851
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

This amount represents the liquidating distribution paid to the organizations sponsor communication workers of america, local 3808 from the net proceeds of the sale of the entire low-income housing project to a local housing authority. All pertinent information of the sale is included on schedule n and is included in this filing.

Financial Statement Notes

XI 4B

This amount is the gain realized on the sale of the project to a local housing authority and is reported on form 990, part viii, line 7. The audited financial statements submitted to the department of housing and urban development included the projects operations up to the point of sale but did not include the gain from the sale.

XII 4B

This amount represents professional fees incurred for wrapping up the affairs of the project and includes, but is not limited to, the issuance of the final audit report and the preparation of the final tax return. These fees were incurred post-sale and post-audited financials and are reported in this return on form 990, part ix, line 11c.

Raw XML Appendix371 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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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0COMMUNICATION WORKERS OF AMERICA LOCAL 3808
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02014-12-19
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0620439282
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt01941360
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501c5
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt02911 ELM HILL PIKE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0NASHVILLE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0TN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd037214
IRS990ScheduleN/OwnerOfSuccessor2Ind0false
IRS990ScheduleN/OwnerOfSuccessorInd0false
IRS990ScheduleN/ReceiveCompensation2Ind0false
IRS990ScheduleN/ReceiveCompensationInd0false
IRS990ScheduleN/RequiredToNotifyAGInd0true
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0The low-income housing project known as CWA Apartments which constituted virtually all assets of the organization was sold to the Metropolitan Development and Housing Authority of Nashville on December 19, 2014. The net proceeds of the sale were distributed to the Projects sponsor, Communication Workers of America, Local 3808, in accordance with the governing documents. All pertinent information of the sponsor including address, phone number, and FEIN, are reflected on Schedule N and are included in this filing.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I Line 1
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT AND THE SECRETARY ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DAY-TO-DAY MANAGEMENT OF THE APARTMENT COMPLEX WAS HANDLED BY TAMCO PROPERTY MANAGEMENT, LLC, A PROFESSIONAL REAL ESTATE MANAGEMENT COMPANY SPECIALIZING IN HUD PROPERTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD PRESIDENT REVIEWS THE FORM 990 WITH THE CPA BEFORE IT IS FILED. THE RETURN IS THEN GENERALLY MADE AVAILABLE FOR REVIEW TO ALL BOARD MEMBERS AT THE NEXT SCHEDULED BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL INFORMATION RELATED TO THE ORGANIZATION IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE FILED ANNUALLY WITH BOTH THE OFFICE OF MANAGEMENT AND BUDGET OMB AND THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT HUD PURSUANT TO CIRCULAR A-133. LEGAL DOCUMENTS RELATED TO GOVERNANCE ARE FILED WITH THE SECRETARY OF STATE. THERE IS NO FORMAL CONFLICT OF INTEREST POLICY BUT THE ORGANIZATIONS BY-LAWS PROHIBIT THE RECEIPT OF COMPENSATION BY ANY BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THIS AMOUNT REPRESENTS THE LIQUIDATING DISTRIBUTION PAID TO THE ORGANIZATIONS SPONSOR COMMUNICATION WORKERS OF AMERICA, LOCAL 3808 FROM THE NET PROCEEDS OF THE SALE OF THE ENTIRE LOW-INCOME HOUSING PROJECT TO A LOCAL HOUSING AUTHORITY. ALL PERTINENT INFORMATION OF THE SALE IS INCLUDED ON SCHEDULE N AND IS INCLUDED IN THIS FILING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11a, 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CWA APARTMENTS NO 2 INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0620797761
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C4
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LOW INCOME HSNG
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02911 ELM HILL PIKE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NASHVILLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd037214
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt03478365
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt03478365
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0373624
IRS990/TotalFunctionalExpensesGrp/TotalAmt0373624
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04563424
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt04563424
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1085059
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalProgramServiceExpensesAmt0373624
IRS990/TotalProgramServiceRevenueAmt0327742
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03400043
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03400043
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03478365
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1085059
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02911 ELM HILL PIKE
IRS990/USAddress/CityNm0NASHVILLE
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037214
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Roger Womble
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board President
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CWA APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0CWAA
ReturnHeader/Filer/EIN0620726909
ReturnHeader/Filer/PhoneNum06158843712
ReturnHeader/Filer/USAddress/AddressLine1Txt02911 ELM HILL PIKE
ReturnHeader/Filer/USAddress/CityNm0NASHVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037214
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Lincoln Coggin CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08300 Alamo Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Brentwood
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037027
ReturnHeader/PreparerPersonGrp/PhoneNum06156615851
ReturnHeader/PreparerPersonGrp/PreparationDt02016-08-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Lincoln Coggin
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-08-12T12:33:58-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-10-01
ReturnHeader/TaxPeriodEndDt02015-09-30
ReturnHeader/TaxYr02014

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