Civic Intelligence

New Hope Apartments Inc.

990 • Fiscal year 2019 • EIN 62-1768268

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 13, 2020

Organization ProfileN/A
PO Box 879Hohenwald, TN 38462

(931) 796-5427

Siviq Scores

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

Liabilities / Assets

67th percentile

0.13x

Higher debt load relative to assets than 67% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

87th percentile

0.57x

Higher debt load relative to revenue than 87% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

11th percentile

-24%

Higher net margin than 11% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

24th percentile

-4.8%

Faster asset growth than 24% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

36th percentile

-2.3%

Faster revenue growth than 36% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$572,773

Down $28,983 (-4.8%) from 2018

Net Assets

Down

$498,751

Down $31,270 (-5.9%) from 2018

Liabilities

Up

$74,022

Up $2,287 (+3.2%) from 2018

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin11th percentile

Revenue

Down

$130,038

Down $3,098 (-2.3%) from 2018

Expenses

Down

$161,308

Down $3,884 (-2.4%) from 2018

Net Income

Up

-$31,270

Up $786 (+2.5%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$1.0M$500K$0Assets 2011: $813,782Liabilities 2011: $64,043Net Assets 2011: $749,7392011Assets 2012: $798,715Liabilities 2012: $76,528Net Assets 2012: $722,1872012Assets 2013: $763,723Liabilities 2013: $74,426Net Assets 2013: $689,2972013Assets 2014: $730,151Liabilities 2014: $70,254Net Assets 2014: $659,8972014Assets 2015: $700,260Liabilities 2015: $72,437Net Assets 2015: $627,8232015Assets 2016: $664,999Liabilities 2016: $70,388Net Assets 2016: $594,6112016Assets 2017: $638,819Liabilities 2017: $76,742Net Assets 2017: $562,0772017Assets 2018: $601,756Liabilities 2018: $71,735Net Assets 2018: $530,0212018Assets 2019: $572,773Liabilities 2019: $74,022Net Assets 2019: $498,7512019Assets 2020: $547,124Liabilities 2020: $75,693Net Assets 2020: $471,4312020Assets 2021: $538,291Liabilities 2021: $97,177Net Assets 2021: $441,1142021Assets 2022: $499,717Liabilities 2022: $89,002Net Assets 2022: $410,7152022Assets 2023: $478,198Liabilities 2023: $87,356Net Assets 2023: $390,8422023Assets 2024: $441,622Liabilities 2024: $116,592Net Assets 2024: $325,0302024Assets 2025: $362,271Liabilities 2025: $90,496Net Assets 2025: $271,7752025

Highlighted filing

2019

Assets$572,773
Liabilities$74,022
Net Assets$498,751
Open 2019 Filing

Operations Trend

Revenue Growth36th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $126,504Expenses 2011: $135,013Net Income 2011: -$8,5092011Expenses 2012: $147,5832012Expenses 2013: $152,3572013Revenue 2014: $119,594Expenses 2014: $148,994Net Income 2014: -$29,4002014Revenue 2015: $120,146Expenses 2015: $152,220Net Income 2015: -$32,0742015Revenue 2016: $120,528Expenses 2016: $153,740Net Income 2016: -$33,2122016Revenue 2017: $120,459Expenses 2017: $152,993Net Income 2017: -$32,5342017Revenue 2018: $133,136Expenses 2018: $165,192Net Income 2018: -$32,0562018Revenue 2019: $130,038Expenses 2019: $161,308Net Income 2019: -$31,2702019Revenue 2020: $135,910Expenses 2020: $163,230Net Income 2020: -$27,3202020Revenue 2021: $133,397Expenses 2021: $163,714Net Income 2021: -$30,3172021Revenue 2022: $134,981Expenses 2022: $165,380Net Income 2022: -$30,3992022Revenue 2023: $137,283Expenses 2023: $157,156Net Income 2023: -$19,8732023Revenue 2024: $147,022Expenses 2024: $212,835Net Income 2024: -$65,8132024Revenue 2025: $154,201Expenses 2025: $207,456Net Income 2025: -$53,2552025

Highlighted filing

2019

Revenue$130,038
Expenses$161,308
Net Income-$31,270
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 13, 2020
Return Version
2018v3.1
Gross Receipts
$130,038
Mission and Program Overview

Mission

Residential housing project. The organization operates a 19-unit housing project in lawrenceburg, tennessee for the benefit of physically disabled and chronically mentally ill persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$542,236$521,832▼ $20,404
Cash and Non-Interest-Bearing Accounts$1,752$4,255▲ $2,503
Prepaid Expenses and Deferred Charges$1,850$2,342▲ $492
Accounts Receivable$419$979▲ $560
Total Assets$601,756$572,773▼ $28,983
Other Assets Total$55,499$43,365▼ $12,134
Liabilities
Accounts Payable and Accrued Expenses$68,960$70,404▲ $1,444
Other Liabilities$2,741$3,613▲ $872
Deferred Revenue$34$5▼ $29
Total Liabilities$71,735$74,022▲ $2,287
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,058,958$1,045,952▼ $13,006
Unrestricted Net Assets$-528,937$-547,201▼ $18,264
Total Net Assets Fund Balance$530,021$498,751▼ $31,270
Total Liabilities and Net Assets / Fund Balance$601,756$572,773▼ $28,983

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$409,674$675,087$1,084,761
Land$90,000-$90,000
Leasehold Improvements$18,447$141$18,588
Equipment$3,711$9,123$12,834
Other Assets Org$2,001--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
John GalbreathPresident
Judy MayberryBoard Member
Melody BasingerBoard Member
Sharon SmithBoard Member
Jerry T RisnerExecutive Director
Ann GalbreathSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$75,630
Program Service Revenue
$53,873
Investment Income
$535
Other Revenue
$0
Change in Net Assets
$-31,270

Audited Revenue Reconciliation

Revenue per Audited Statements
$130,038
Total Revenue per Audited Statements
$130,038
Total Revenue per Form 990
$130,038
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$125,245
Salaries, Compensation, and Employee Benefits$36,063
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$55,019--$55,019
Depreciation Depletion$38,992--$38,992
Other Salaries and Wages$33,758--$33,758
Fees for Services Management$10,228--$10,228
Insurance$6,135--$6,135
Office Expenses$5,597--$5,597
Fees for Services Accounting$5,065--$5,065
Fees for Services Legal$2,348--$2,348
Payroll Taxes$2,305--$2,305
Conferences and Meetings$417--$417
Other Expenses$20--$20
Total Functional Expenses$161,308$0$0$161,308

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$161,308
Total Expenses per Audited Statements$161,308
Total Expenses per Form 990$161,308
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
Federal income taxes$3,613
Tenant Security Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The primary grantor HUD requires organizations that do not have prior experience with operating HUD projects to contract with a management company that has this HUD experience. IHN Management Company, LLC fills this management role for the Project.”

Form 990, Part VI, Section A, Line 7B

“The primary grantor HUD reserves the right to approve certain actions such as the selection of new board members, the transfer of the Project sponsorship, the management company, and the disposition of assets acquired with HUD funds.”

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

“The Form 990 is prepared by a CPA and it is the organizations policy to have the 990 reviewed at a board meeting prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The organization requires disclosure by board members as conflicts arise. The organization does not conduct business with board members unless no other viable option is available.”

Form 990, Part VI, Section C, Line 19

“The public may make requests for these documents by telephone, mail, or e-mail.”

Filing and Contact Details

Filer

Filer Name
New Hope Apartments Inc
EIN
62-1768268
Phone
9317965427
Address
PO BOX 879, HOHENWALD, TN 38462

Signing Officer

Name
Jerry T Risner
Title
Authorized Agent
Signed
2020-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Galbreath
Formed
2000
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
3

Preparer

Firm
CFL Accounting Services
Address
8300 Alamo Road, Brentwood, TN 37027
Preparer
Lincoln Coggin CPA
Phone
6156615851
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01084761
IRS990ScheduleD/EquipmentGrp/BookValueAmt03711
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09123
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt012834
IRS990ScheduleD/ExpensesSubtotalAmt0161308
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IRS990ScheduleD/LandGrp/BookValueAmt090000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt090000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt018447
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0141
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt018588
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03613
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1225
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TAX AND INSURANCE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03613
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt043365
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IRS990ScheduleD/TotalLiabilityAmt03613
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The primary grantor HUD requires organizations that do not have prior experience with operating HUD projects to contract with a management company that has this HUD experience. IHN Management Company, LLC fills this management role for the Project.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The primary grantor HUD reserves the right to approve certain actions such as the selection of new board members, the transfer of the Project sponsorship, the management company, and the disposition of assets acquired with HUD funds.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Form 990 is prepared by a CPA and it is the organizations policy to have the 990 reviewed at a board meeting prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization requires disclosure by board members as conflicts arise. The organization does not conduct business with board members unless no other viable option is available.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The public may make requests for these documents by telephone, mail, or e-mail.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0601756
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IRS990/TotalContributionsAmt075630
IRS990/TotalEmployeeCnt03
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IRS990/TotalProgramServiceExpensesAmt0161308
IRS990/TotalProgramServiceRevenueAmt053873
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt053873
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0130038
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0601756
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0572773
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-528937
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-547201
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 879
IRS990/USAddress/CityNm0Hohenwald
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038462
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jerry T Risner
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Authorized Agent
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-02-13

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$572,773
Liabilities
$74,022
Net assets
$498,751
Revenue
$130,038
Expenses
$161,308
Net income
-$31,270
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.62$0.90$2.72$1.54$2.07$0.53
2024Detailed filing. Detailed filing data is available for this year.$4.42$1.17$3.25$1.47$2.13$0.66
2023Detailed filing. Detailed filing data is available for this year.$4.78$0.87$3.91$1.37$1.57$0.20
2022Detailed filing. Detailed filing data is available for this year.$5.00$0.89$4.11$1.35$1.65$0.30
2021Detailed filing. Detailed filing data is available for this year.$5.38$0.97$4.41$1.33$1.64$0.30
2020Detailed filing. Detailed filing data is available for this year.$5.47$0.76$4.71$1.36$1.63$0.27
2019Detailed filing. Detailed filing data is available for this year.$5.73$0.74$4.99$1.30$1.61$0.31
2018Detailed filing. Detailed filing data is available for this year.$6.02$0.72$5.30$1.33$1.65$0.32
2017Detailed filing. Detailed filing data is available for this year.$6.39$0.77$5.62$1.20$1.53$0.33
2016Detailed filing. Detailed filing data is available for this year.$6.65$0.70$5.95$1.21$1.54$0.33
2015Detailed filing. Detailed filing data is available for this year.$7.00$0.72$6.28$1.20$1.52$0.32
2014Detailed filing. Detailed filing data is available for this year.$7.30$0.70$6.60$1.20$1.49$0.29
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.64$0.74$6.89$1.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.99$0.77$7.22$1.48
2011Summary only. Only limited summary data is available for this year.$8.14$0.64$7.50$1.27$1.35$0.09