Civic Intelligence

Phyllis Wheatley Homes Inc.

990 • Fiscal year 2013 • EIN 62-0952455

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 17, 2014

521 Vanderhorst Drive37207

(615) 259-4332

Siviq Scores

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

Liabilities / Assets

74th percentile

0.30x

Higher debt load relative to assets than 74% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Liabilities / Revenue

72nd percentile

0.21x

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

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Net Margin

28th percentile

-4.7%

Higher net margin than 28% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2013 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2013

Asset Growth

52nd percentile

2.9%

Faster asset growth than 52% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2012 to 2013

Revenue Growth

35th percentile

-1.8%

Faster revenue growth than 35% of similar nonprofits.

2013 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2011 to 2013

Assets

Up

$349,556

Up $9,899 (+2.9%) from 2012

Net Assets

Down

$244,973

Down $23,891 (-8.9%) from 2012

Liabilities

Up

$104,583

Up $33,790 (+48%) from 2012

Revenue

$508,656

No earlier filing loaded for comparison.

Expenses

Up

$532,547

Up $2,760 (+0.5%) from 2012

Net Income

-$23,891

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2010: $330,420Liabilities 2010: $99,633Net Assets 2010: $230,7872010Assets 2011: $355,994Liabilities 2011: $102,554Net Assets 2011: $253,4402011Assets 2012: $339,657Liabilities 2012: $70,793Net Assets 2012: $268,8642012Assets 2013: $349,556Liabilities 2013: $104,583Net Assets 2013: $244,9732013Assets 2014: $301,718Liabilities 2014: $73,090Net Assets 2014: $228,6282014Assets 2015: $301,882Liabilities 2015: $77,288Net Assets 2015: $224,5942015Assets 2016: $267,656Liabilities 2016: $42,215Net Assets 2016: $225,4412016Assets 2017: $235,118Liabilities 2017: $25,209Net Assets 2017: $209,9092017Assets 2018: $229,553Liabilities 2018: $30,212Net Assets 2018: $199,3412018Assets 2019: $208,048Liabilities 2019: $43,409Net Assets 2019: $164,6392019Assets 2020: $225,618Liabilities 2020: $65,364Net Assets 2020: $160,2542020Assets 2021: $226,198Liabilities 2021: $78,059Net Assets 2021: $148,1392021Assets 2022: $422,612Liabilities 2022: $96,420Net Assets 2022: $326,1922022Assets 2023: $255,874Liabilities 2023: $129,052Net Assets 2023: $126,8222023Assets 2024: $289,699Liabilities 2024: $102,709Net Assets 2024: $186,9902024

Highlighted filing

2013

Assets$349,556
Liabilities$104,583
Net Assets$244,973

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2010: $496,1422010Revenue 2011: $527,932Expenses 2011: $505,279Net Income 2011: $22,6532011Expenses 2012: $529,7872012Revenue 2013: $508,656Expenses 2013: $532,547Net Income 2013: -$23,8912013Revenue 2014: $602,292Expenses 2014: $645,570Net Income 2014: -$43,2782014Revenue 2015: $601,380Expenses 2015: $605,414Net Income 2015: -$4,0342015Revenue 2016: $582,349Expenses 2016: $604,084Net Income 2016: -$21,7352016Revenue 2017: $581,624Expenses 2017: $573,357Net Income 2017: $8,2672017Revenue 2018: $598,329Expenses 2018: $609,804Net Income 2018: -$11,4752018Revenue 2019: $612,765Expenses 2019: $647,467Net Income 2019: -$34,7022019Revenue 2020: $615,901Expenses 2020: $620,286Net Income 2020: -$4,3852020Revenue 2021: $611,359Expenses 2021: $623,474Net Income 2021: -$12,1152021Revenue 2022: $819,713Expenses 2022: $641,660Net Income 2022: $178,0532022Revenue 2023: $641,848Expenses 2023: $726,169Net Income 2023: -$84,3212023Revenue 2024: $709,831Expenses 2024: $649,663Net Income 2024: $60,1682024

Highlighted filing

2013

Revenue$508,656
Expenses$532,547
Net Income-$23,891
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 17, 2014
Return Version
2013v3.1
Gross Receipts
$508,656
Mission and Program Overview

Mission

Phyllis Wheatley Homes, Inc. ("Project"), is an 81 unit Apartment complex that provides affordable independent living in an energy efficient, quiet, safe and clean environment.

Phyllis Wheatley Homes, Inc. ("Project"), an apartment project consists of 81 units. The Project offers affordable independent living in an energy efficient, quiet, safe and clean environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$116,051$116,085▲ $34
Cash and Non-Interest-Bearing Accounts$48,694$66,580▲ $17,886
Accounts Receivable-$22,166-
Prepaid Expenses and Deferred Charges$13,063$14,431▲ $1,368
Savings and Temporary Cash Investments-$0-
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$339,657$349,556▲ $9,899
Other Assets Total$161,849$130,294▼ $31,555
Liabilities
Accounts Payable and Accrued Expenses$55,299$79,205▲ $23,906
Other Liabilities$15,494$25,378▲ $9,884
Total Liabilities$70,793$104,583▲ $33,790
Net Assets / Fund Balance
Unrestricted Net Assets$268,864$244,973▼ $23,891
Total Net Assets Fund Balance$268,864$244,973▼ $23,891
Total Liabilities and Net Assets / Fund Balance$339,657$349,556▲ $9,899

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$41,920$764,477$806,397
Other Land Buildings$26,165$228,133$254,298
Land$48,000-$48,000
Other Assets Org$25,159--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Theodore LewisPresident
Clara CopelandDirector
Gloria M LewisDirector
JD MartinDirector
Rev Edwin SandersDirector
Susie McclureTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$508,609
Investment Income
$47
Other Revenue
$0
Change in Net Assets
$-23,891

Audited Revenue Reconciliation

Revenue per Audited Statements
$508,656
Total Revenue per Audited Statements
$508,656
Total Revenue per Form 990
$508,656
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$379,248
Salaries, Compensation, and Employee Benefits$153,299
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$137,977--$137,977
Insurance$44,436--$44,436
Depreciation Depletion$28,673--$28,673
Fees for Services Management$15,499--$15,499
Fees for Services Accounting-$13,655-$13,655
Office Expenses$9,242--$9,242
Other Employee Benefits$7,870--$7,870
Payroll Taxes$7,452--$7,452
Fees for Services Legal-$2,924-$2,924
Other Expenses$1,476--$1,476
Occupancy$1,295--$1,295
Conferences and Meetings-$1,090-$1,090
All Other Expenses$135--$135
Total Functional Expenses$514,878$17,669$0$532,547

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$532,547
Total Expenses per Audited Statements$532,547
Total Expenses per Form 990$532,547
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$16,951
Accrued Expenses$8,425
Rounding$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
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
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Otey's Real Estate Agency, Inc. manages the Project under contract. Otey's Real Estate , Inc. is compensated for services at the rate of 8% of gross collections, as defined, plus an additional sum for accounting services.

Form 990, Part VI, Line 11B: Form 990 Review Process

A copy of the 990 is given to the chairman of the board of trustees for review before it is submitted. A copy of the 990 is kept on file in the management agent office and is available upon request.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The governing documents and policies pertaining to financial statements are disclosed in the footnotes of the financial statements.

Filing and Contact Details

Filer

EIN
62-0952455
Phone
6152594332

Signing Officer

Name
Theodore Lewis
Title
Chairman
Signed
2014-11-17
Discuss with paid preparer
Yes

Organization Details

Formed
1963
Legal Domicile
Tn
Voting Board Members
6
Independent Board Members
6
Employees
4

Preparer

Preparer
Harvey E Hoskins CPA
Phone
6153217333
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IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0369133
IRS990/PYProgramServiceRevenueAmt0528254
IRS990/PYRevenuesLessExpensesAmt0-1509
IRS990/PYSalariesCompEmpBnftPaidAmt0160654
IRS990/PYTotalExpensesAmt0529787
IRS990/PYTotalRevenueAmt0528278
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-23891
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt060
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0168
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0228
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0508656
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0528254
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0527857
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0505094
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0457358
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02527219
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt060
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0168
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0228
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt042028
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt031827
IRS990ScheduleA/OtherIncome509Grp/TotalAmt073855
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97150
IRS990ScheduleA/PublicSupportTotal509Amt02527219
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0508656
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0528254
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0527857
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0505094
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0457358
IRS990ScheduleA/Total509Grp/TotalAmt02527219
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0508656
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0528254
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0527857
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0547182
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0489353
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02601302
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt041920
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0764477
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0806397
IRS990ScheduleD/ExpensesSubtotalAmt0532547
IRS990ScheduleD/LandGrp/BookValueAmt048000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt048000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt087
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt19294
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt295754
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt325159
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Mortgage Escrow Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Other Reserves
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Replacement Reserves
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Tenant Deposits
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt026165
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0228133
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0254298
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08425
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt216951
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED EXPENSES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Tenant Security Deposits
IRS990ScheduleD/RevenueSubtotalAmt0508656
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0116085
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0130294
IRS990ScheduleD/TotalExpensesPerForm990Amt0532547
IRS990ScheduleD/TotalLiabilityAmt025378
IRS990ScheduleD/TotalRevenuePerForm990Amt0508656
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0508656
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0532547
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Otey's Real Estate Agency, Inc. manages the Project under contract. Otey's Real Estate , Inc. is compensated for services at the rate of 8% of gross collections, as defined, plus an additional sum for accounting services.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of the 990 is given to the chairman of the board of trustees for review before it is submitted. A copy of the 990 is kept on file in the management agent office and is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing documents and policies pertaining to financial statements are disclosed in the footnotes of the financial statements.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0339657
IRS990/TotalAssetsEOYAmt0349556
IRS990/TotalAssetsGrp/BOYAmt0339657
IRS990/TotalAssetsGrp/EOYAmt0349556
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017669
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0514878
IRS990/TotalFunctionalExpensesGrp/TotalAmt0532547
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt070793
IRS990/TotalLiabilitiesEOYAmt0104583
IRS990/TotalLiabilitiesGrp/BOYAmt070793
IRS990/TotalLiabilitiesGrp/EOYAmt0104583
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0268864
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0244973
IRS990/TotalProgramServiceExpensesAmt0514878
IRS990/TotalProgramServiceRevenueAmt0508609
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0508656
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0508656
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0339657

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.90$1.03$1.87$7.10$6.50$0.60
2023Detailed filing. Detailed filing data is available for this year.$2.56$1.29$1.27$6.42$7.26$0.84
2022Detailed filing. Detailed filing data is available for this year.$4.23$0.96$3.26$8.20$6.42$1.78
2021Detailed filing. Detailed filing data is available for this year.$2.26$0.78$1.48$6.11$6.23$0.12
2020Detailed filing. Detailed filing data is available for this year.$2.26$0.65$1.60$6.16$6.20$0.04
2019Detailed filing. Detailed filing data is available for this year.$2.08$0.43$1.65$6.13$6.47$0.35
2018Detailed filing. Detailed filing data is available for this year.$2.30$0.30$1.99$5.98$6.10$0.11
2017Detailed filing. Detailed filing data is available for this year.$2.35$0.25$2.10$5.82$5.73$0.08
2016Detailed filing. Detailed filing data is available for this year.$2.68$0.42$2.25$5.82$6.04$0.22
2015Detailed filing. Detailed filing data is available for this year.$3.02$0.77$2.25$6.01$6.05$0.04
2014Detailed filing. Detailed filing data is available for this year.$3.02$0.73$2.29$6.02$6.46$0.43
2013Detailed filing. Detailed filing data is available for this year.$3.50$1.05$2.45$5.09$5.33$0.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.40$0.71$2.69$5.30
2011Summary only. Only limited summary data is available for this year.$3.56$1.03$2.53$5.28$5.05$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.30$1.00$2.31$4.96