Civic Intelligence

American Heritage Apartments Inc

EIN 62-1501638 • 501(c)3 • Texarkana, TX

Profile

Quality affordable housing. We offer reduced rent to low and very low income individuals and families. We dedicate 35% of our units to this purpose. We receive no funding from outside sources to assist with this endeavor.

1430 College DrTexarkana, TX 75503

n/A

Siviq Scores

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

Liabilities / Assets

16th percentile

0.01x

Higher debt load relative to assets than 16% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

36th percentile

0.16x

Higher debt load relative to revenue than 36% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

8th percentile

-30%

Higher net margin than 8% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

77th percentile

$422,508

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

13th percentile

-5.8%

Faster asset growth than 13% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

58th percentile

11%

Faster revenue growth than 58% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets16th percentile

Assets

Down

$42,288,408

Down $2,583,528 (-5.8%) from 2023

Liabilities

Down

$630,956

Down $710,932 (-53%) from 2023

Net Assets

Down

$41,657,452

Down $1,872,596 (-4.3%) from 2023

Operations
Liabilities / Revenue36th percentileNet Margin8th percentile

Revenue

Up

$3,856,248

Up $383,543 (+11%) from 2023

Expenses

Down

$5,025,644

Down $110,822 (-2.2%) from 2023

Net Income

Up

-$1,169,396

Up $494,365 (+30%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth13th percentile

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

$60M$40M$20M$0Assets 2011: $11,627,044Liabilities 2011: $666,498Net Assets 2011: $10,960,5462011Assets 2012: $12,383,674Liabilities 2012: $636,497Net Assets 2012: $11,747,1772012Assets 2013: $13,232,194Liabilities 2013: $670,112Net Assets 2013: $12,562,0822013Assets 2014: $13,884,378Liabilities 2014: $798,417Net Assets 2014: $13,085,9602014Assets 2015: $14,771,014Liabilities 2015: $888,591Net Assets 2015: $13,882,4232015Assets 2016: $15,816,148Liabilities 2016: $934,526Net Assets 2016: $14,881,6222016Assets 2017: $16,425,232Liabilities 2017: $1,000,516Net Assets 2017: $15,424,7162017Assets 2018: $29,962,054Liabilities 2018: $14,591,745Net Assets 2018: $15,370,3102018Assets 2019: $38,629,870Liabilities 2019: $23,517,205Net Assets 2019: $15,112,6652019Assets 2020: $53,353,288Liabilities 2020: $5,654,015Net Assets 2020: $47,699,2732020Assets 2021: $47,846,134Liabilities 2021: $1,390,458Net Assets 2021: $46,455,6762021Assets 2022: $48,564,137Liabilities 2022: $3,359,792Net Assets 2022: $45,204,3452022Assets 2023: $44,871,936Liabilities 2023: $1,341,888Net Assets 2023: $43,530,0482023Assets 2024: $42,288,408Liabilities 2024: $630,956Net Assets 2024: $41,657,4522024

Highlighted filing

2024

Assets$42,288,408
Liabilities$630,956
Net Assets$41,657,452
Open 2024 Filing

Operations Trend

Revenue Growth58th percentile

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

$40M$20M$0-$20M-$40MRevenue 2011: $5,080,947Expenses 2011: $4,242,465Net Income 2011: $838,4822011Revenue 2012: $5,056,955Expenses 2012: $4,270,324Net Income 2012: $786,6312012Revenue 2013: $5,187,905Expenses 2013: $4,373,000Net Income 2013: $814,9052013Revenue 2014: $5,259,574Expenses 2014: $4,735,695Net Income 2014: $523,8792014Revenue 2015: $5,827,629Expenses 2015: $5,031,167Net Income 2015: $796,4622015Revenue 2016: $6,166,930Expenses 2016: $5,167,731Net Income 2016: $999,1992016Revenue 2017: $6,289,769Expenses 2017: $5,746,675Net Income 2017: $543,0942017Revenue 2018: $8,168,885Expenses 2018: $8,167,866Net Income 2018: $1,0192018Revenue 2019: $10,337,138Expenses 2019: $32,500,125Net Income 2019: -$22,162,9872019Revenue 2020: $39,209,519Expenses 2020: $6,624,223Net Income 2020: $32,585,2962020Revenue 2021: $3,223,514Expenses 2021: $4,567,111Net Income 2021: -$1,343,5972021Revenue 2022: $4,069,211Expenses 2022: $5,577,090Net Income 2022: -$1,507,8792022Revenue 2023: $3,472,705Expenses 2023: $5,136,466Net Income 2023: -$1,663,7612023Revenue 2024: $3,856,248Expenses 2024: $5,025,644Net Income 2024: -$1,169,3962024

Highlighted filing

2024

Revenue$3,856,248
Expenses$5,025,644
Net Income-$1,169,396
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$42,288,408
Liabilities
$630,956
Net assets
$41,657,452
Revenue
$3,856,248
Expenses
$5,025,644
Net income
-$1,169,396
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$42.3$0.63$41.7$3.86$5.03$1.17
2023Detailed filing. Detailed filing data is available for this year.$44.9$1.34$43.5$3.47$5.14$1.66
2022Detailed filing. Detailed filing data is available for this year.$48.6$3.36$45.2$4.07$5.58$1.51
2021Detailed filing. Detailed filing data is available for this year.$47.8$1.39$46.5$3.22$4.57$1.34
2020Summary only. Only limited summary data is available for this year.$53.4$5.65$47.7$39.2$6.62$32.6
2019Summary only. Only limited summary data is available for this year.$38.6$23.5$15.1$10.3$32.5$22.2
2018Summary only. Only limited summary data is available for this year.$30.0$14.6$15.4$8.17$8.17$0.00
2017Summary only. Only limited summary data is available for this year.$16.4$1.00$15.4$6.29$5.75$0.54
2016Summary only. Only limited summary data is available for this year.$15.8$0.93$14.9$6.17$5.17$1.00
2015Summary only. Only limited summary data is available for this year.$14.8$0.89$13.9$5.83$5.03$0.80
2014Summary only. Only limited summary data is available for this year.$13.9$0.80$13.1$5.26$4.74$0.52
2013Summary only. Only limited summary data is available for this year.$13.2$0.67$12.6$5.19$4.37$0.81
2012Summary only. Only limited summary data is available for this year.$12.4$0.64$11.7$5.06$4.27$0.79
2011Summary only. Only limited summary data is available for this year.$11.6$0.67$11.0$5.08$4.24$0.84
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2024
Return Version
2023v6.0
Gross Receipts
$3,976,448
Mission and Program Overview

Mission

Quality affordable housing. We offer reduced rent to low and very low individuals and families. We dedicate 35 of our units to this purpose. We receive no funding from outside sources to assist with this endeaver.

Quality afforadable housing. We offer reduced rent to low and very low individuals and familes. We dedicate 35% of our units to this purpose. We receive no funding from outside sources to assist with the endevor.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,315,324$14,399,038▲ $83,714
Other Notes and Loans Receivable, Net$15,641,303$14,297,196▼ $1,344,107
Savings and Temporary Cash Investments-$8,509,266-
Cash and Non-Interest-Bearing Accounts$13,479,992$1,536,627▼ $11,943,365
Receivables From Officers Etc$1,247,266$1,469,932▲ $222,666
Prepaid Expenses and Deferred Charges$116,375$147,335▲ $30,960
Accounts Receivable$42,791$46,253▲ $3,462
Total Assets$44,871,936$42,288,408▼ $2,583,528
Other Assets Total$28,885$1,882,761▲ $1,853,876
Liabilities
Accounts Payable and Accrued Expenses$954,742$348,930▼ $605,812
Other Liabilities$387,146$282,026▼ $105,120
Total Liabilities$1,341,888$630,956▼ $710,932
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,530,048$41,657,452▼ $1,872,596
Total Net Assets Fund Balance$43,530,048$41,657,452▼ $1,872,596
Total Liabilities and Net Assets / Fund Balance$44,871,936$42,288,408▼ $2,583,528

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,931,853$818,939$6,750,792
Leasehold Improvements$5,427,531$268,694$5,696,225
Equipment$2,756,263$2,036,772$4,793,035
Land$283,125-$283,125
Other Land Buildings$266$5,920$6,186
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lonny D WeitzelVice PresideFT$422,508-$422,508
Lonny D WeitzelVice President-$290,648$131,860$422,508
William D WeitzelPresidentFT$325,788$94,011$419,799
Charlene CarterControllerFT$102,941$91,811$194,752
Karen FarrisBookeeperFT$112,633-$112,633
Brendon PetersonBoard Member-$4,200-$4,200
James Henry FincherBoard Member-$4,200-$4,200

Board Members and Trustees

NameTitle
Caleb BatistaBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Restoration Of Hope General ConstrucConstruction2104 PINE STREET, Texarkana, TX 75501$647,310
J-mar FlooringConstruction1217 HAZEL STREET, Texarkana, TX 75501$553,084
Meadows Collier Read CousingsConstruction1202 NW LOGAN AVENUE, Lawton, OK 73507$423,285
-Flooring5101 SW 36TH ST, Oklahoma City, OK 73719$207,518
-Legal901 MAIN ST SUITE 3700, Dallas, TX 75202$144,386
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,303,113
Investment Income
$523,182
Other Revenue
$29,953
Change in Net Assets
$-1,169,396

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,856,248
Revenue Not Reported on Form 990
$-703,200
Total Revenue per Audited Statements
$3,153,048
Total Revenue per Form 990
$3,856,248
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,865,390
Salaries, Compensation, and Employee Benefits$2,147,818
Grants and Similar Amounts Paid$12,436
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$654,198$306,545-$960,743
Current Officers, Directors, Trustees, and Key Employees$561,466$289,241-$850,707
Depreciation Depletion$677,003--$677,003
Insurance$328,277$57,075-$385,352
Comp Disqual Persons$131,603$67,795-$199,398
Payroll Taxes$91,770$45,200-$136,970
Travel$118,922--$118,922
Fees for Services Legal-$115,672-$115,672
Fees for Services Accounting-$85,835-$85,835
All Other Expenses$21,454$52,012-$73,466
Office Expenses$2,264$64,440-$66,704
Other Expenses$583$26,839-$27,422
Grants to Domestic Orgs$12,436--$12,436
Interest$652--$652
Total Functional Expenses$3,828,876$1,196,768$0$5,025,644

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,025,644
Total Expenses per Audited Statements$5,025,644
Total Expenses per Form 990$5,025,644
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Misce Contributions---$12,436
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Brendon PetersOfficerPurchase of EquipmenNo$9,000
Brendon PetersOfficerHangar RentalNo$2,727

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,247,266$1,469,932▲ $222,666
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$102,491
Property Taxes and Insurance Payable$90,893
Accrued Payroll and Vacation$88,642
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
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“William weitzel lonny weitzel president vp father and son”

Form 990, Page 6, Part VI, Line 7A

“William witzel and or the board of directors make all governing decisions.”

Form 990, Page 6, Part VI, Line 7B

“The existing board of directors votes and appoints members to the governing board.”

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

“The form 990 will be reviewed by william weitzel and lonny weitzel.”

Form 990, Page 6, Part VI, Line 19

“No other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
American Heritage Apartments Inc
EIN
62-1501638
Phone
9038323000
Address
1430 COLLEGE DR, TEXARKANA, TX 75503

Signing Officer

Name
William D Weitzel
Title
President
Phone
9038323000
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William D Weitzel
Formed
1992
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
2
Employees
29

Preparer

Firm
Christopher a Turner CPA
Address
5411 PLAZA DR STE F, TEXARKANA, TX 75503-1667
Preparer
Christopher a Turner
Phone
9035725185
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Loss on other assets held for sale -703,200”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Loss on other assets held for sale -703,200”

Raw XML AppendixShowing 400 of 870 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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