Civic Intelligence

River Manor Apartments Inc

990 • Fiscal year 2016 • EIN 71-0584414

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 13, 2016

Organization ProfileN/A
8101 I-30 Ste ALittle Rock, AR 72209

(501) 280-0037

Siviq Scores

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

Liabilities / Assets

96th percentile

1.49x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

92nd percentile

1.62x

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

64th percentile

8.6%

Higher net margin than 64% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

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.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

9th percentile

-20%

Faster asset growth than 9% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

46th percentile

1.1%

Faster revenue growth than 46% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$596,847

Down $148,514 (-20%) from 2015

Net Assets

Up

-$295,383

Up $47,403 (+14%) from 2015

Liabilities

Down

$892,230

Down $195,917 (-18%) from 2015

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin64th percentile

Revenue

Up

$549,216

Up $6,061 (+1.1%) from 2015

Expenses

Down

$501,813

Down $9,853 (-1.9%) from 2015

Net Income

Up

$47,403

Up $15,914 (+51%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $680,338Liabilities 2011: $1,188,874Net Assets 2011: -$508,5362011Assets 2012: $667,916Liabilities 2012: $1,130,557Net Assets 2012: -$462,6412012Assets 2013: $669,619Liabilities 2013: $1,082,010Net Assets 2013: -$412,3912013Assets 2014: $646,373Liabilities 2014: $1,020,648Net Assets 2014: -$374,2752014Assets 2015: $745,361Liabilities 2015: $1,088,147Net Assets 2015: -$342,7862015Assets 2016: $596,847Liabilities 2016: $892,230Net Assets 2016: -$295,3832016Assets 2017: $1,924,894Liabilities 2017: $2,377,349Net Assets 2017: -$452,4552017Assets 2018: $1,833,934Liabilities 2018: $2,273,066Net Assets 2018: -$439,1322018Assets 2019: $1,781,539Liabilities 2019: $2,217,081Net Assets 2019: -$435,5422019Assets 2020: $1,879,407Liabilities 2020: $2,252,861Net Assets 2020: -$373,4542020Assets 2021: $1,805,058Liabilities 2021: $2,143,685Net Assets 2021: -$338,6272021Assets 2022: $1,767,378Liabilities 2022: $2,099,877Net Assets 2022: -$332,4992022Assets 2023: $1,883,341Liabilities 2023: $2,031,523Net Assets 2023: -$148,1822023Assets 2024: $1,763,190Liabilities 2024: $1,992,808Net Assets 2024: -$229,6182024Assets 2025: $1,731,485Liabilities 2025: $1,963,237Net Assets 2025: -$231,7522025

Highlighted filing

2016

Assets$596,847
Liabilities$892,230
Net Assets-$295,383
Open 2016 Filing

Operations Trend

Revenue Growth46th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $478,8262011Expenses 2012: $474,7372012Expenses 2013: $490,3802013Revenue 2014: $535,006Expenses 2014: $496,890Net Income 2014: $38,1162014Revenue 2015: $543,155Expenses 2015: $511,666Net Income 2015: $31,4892015Revenue 2016: $549,216Expenses 2016: $501,813Net Income 2016: $47,4032016Revenue 2017: $480,441Expenses 2017: $637,513Net Income 2017: -$157,0722017Revenue 2018: $532,644Expenses 2018: $519,321Net Income 2018: $13,3232018Revenue 2019: $568,615Expenses 2019: $565,025Net Income 2019: $3,5902019Revenue 2020: $586,212Expenses 2020: $524,124Net Income 2020: $62,0882020Revenue 2021: $604,190Expenses 2021: $569,363Net Income 2021: $34,8272021Revenue 2022: $620,217Expenses 2022: $614,089Net Income 2022: $6,1282022Revenue 2023: $806,920Expenses 2023: $622,603Net Income 2023: $184,3172023Revenue 2024: $601,464Expenses 2024: $682,900Net Income 2024: -$81,4362024Revenue 2025: $688,575Expenses 2025: $690,710Net Income 2025: -$2,1352025

Highlighted filing

2016

Revenue$549,216
Expenses$501,813
Net Income$47,403
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 13, 2016
Return Version
2015v2.1
Gross Receipts
$549,216
Mission and Program Overview

Mission

To provide low-income housing to elderly in osceola, arkansas under the requirements set forth by the u.s. Department of housing and urban development.

To provide low-income housing for the elderly in osceola, arkansas under the requirements set forth by the u.s. Department of housing and urban development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$412,889$482,797▲ $69,908
Cash and Non-Interest-Bearing Accounts$5,988$2,811▼ $3,177
Accounts Receivable$1,794$1,964▲ $170
Prepaid Expenses and Deferred Charges$1,216$1,147▼ $69
Total Assets$745,361$596,847▼ $148,514
Other Assets Total$323,474$108,128▼ $215,346
Liabilities
Mortgage Notes Payable Secured by Investment Property$911,867$840,859▼ $71,008
Accounts Payable and Accrued Expenses$159,277$33,348▼ $125,929
Other Liabilities$17,003$17,473▲ $470
Deferred Revenue-$550-
Total Liabilities$1,088,147$892,230▼ $195,917
Net Assets / Fund Balance
Unrestricted Net Assets$-342,786$-295,383▲ $47,403
Total Net Assets Fund Balance$-342,786$-295,383▲ $47,403
Total Liabilities and Net Assets / Fund Balance$745,361$596,847▼ $148,514

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$350,786$1,188,037$1,538,823
Other Land Buildings$24,136$177,400$201,536
Equipment$7,939$143,601$151,540
Land$99,936-$99,936
Other Assets Org$5,942--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
C Carl SchultzPresident
Cynthia KnoerrSecretary
Jeffrey OwensTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$549,147
Investment Income
$69
Other Revenue
$0
Change in Net Assets
$47,403

Audited Revenue Reconciliation

Revenue per Audited Statements
$549,216
Total Revenue per Audited Statements
$549,216
Total Revenue per Form 990
$549,216
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$421,992
Salaries, Compensation, and Employee Benefits$79,821
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$69,568$25,731-$95,299
Interest$59,048$21,839-$80,887
Other Salaries and Wages$52,878$19,557-$72,435
Depreciation Depletion$41,966$15,522-$57,488
Fees for Services Management$36,059$13,337-$49,396
Insurance$24,481$9,054-$33,535
Fees for Services Accounting$14,453$5,345-$19,798
Office Expenses$9,354$3,460-$12,814
Other Expenses$4,484$1,658-$6,142
Payroll Taxes$4,297$1,589-$5,886
Other Employee Benefits$1,095$405-$1,500
Fees for Services Legal$558$207-$765
Conferences and Meetings$169$63-$232
All Other Expenses$148$55-$203
Advertising$26$10-$36
Total Functional Expenses$366,324$135,489$0$501,813

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$501,813
Total Expenses per Audited Statements$501,813
Total Expenses per Form 990$501,813
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
-OwnerPayroll ServicesNo$85,623
-OwnersManagement AgentYes$49,396
-OwnerAdmin ServicesNo$1,578
-OwnersBackground ChecksNo$144
-OwnersStorage ServicesNo$121
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit Liability$17,473
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“C. Carl schultz cynthia knoerr president secretary siblings c. Carl schultz jeffrey owens pres/sec treasurer employer/employee”

Form 990, Page 6, Part VI, Line 3

“The board has delegated management control to a management company, intrepid management, inc. All decisions, except review of the annual audit and form 990 tax return, are made by the management company.”

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

“The number of directors of the corporation shall be three (3), who shall elect their successors, in the event of a vacancy, and who shall elect the officers of the corporation. All directors and officers shall serve one year terms, but shall serve until their successors are elected.”

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

“Tax form 990 is prepared by an external cpa firm and provided to the board of directors for review and approval prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“All related party information is disclosed in the annual financial report that is submitted to the u.s. Department of housing and urban development for review and approval.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are not provided for public access but can be reviewed upon request.”

Filing and Contact Details

Filer

Filer Name
River Manor Apartments Inc
EIN
71-0584414
Phone
5012800037
Address
8101 I-30 STE A, LITTLE ROCK, AR 72209

Signing Officer

Name
C Carl Schultz
Title
President
Phone
5012800037
Signed
2016-10-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
C Carl Schultz
Formed
1981
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
The Kemp Firm LLC
Address
8101 I-30 STE B, LITTLE ROCK, AR 72209-4800
Preparer
Michele Kemp CPA
Phone
5012236943
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt35942
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MISCELLANEOUS OTHER ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4CONSTRUCTION IN PROCESS
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0ARKANSAS CONS PAYROLL PROCESSING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1INTREPID INVESTMENTS INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt2INTREPID MANAGEMENT INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt3UNITED PROPERTIES MANAGEMENT INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt4JCC I-30 LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine2Txt0ARKANSAS CONS PAYROLL PROCESSING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine2Txt1INTREPID INVESTMENTS INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine2Txt2INTREPID MANAGEMENT INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine2Txt3UNITED PROPERTIES MANAGEMENT INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine2Txt4JCC I-30 LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1OWNERS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2OWNERS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4OWNERS
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd2true
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd4false
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1144
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt249396
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt31578
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt4121
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PAYROLL SERVICES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1BACKGROUND CHECKS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2MANAGEMENT AGENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3ADMIN SERVICES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc4STORAGE SERVICES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0C. CARL SCHULTZ IS PRESIDENT OF THE ENTITY AND IS SOLE OWNER OF ARKANSAS CONSOLIDATED PAYROLL PROCESSING. SERVICES PROVIDED INCLUDE PAYROLL PROCESSING AND LEASING OF EMPLOYEES. C. CARL SCHULTZ AND CYNTHIA KNOERR ARE SIBLINGS AND OFFICERS OF THE ENTITY. THEY ARE OWNERS OF INTREPID INVESTMENTS, INC. AND INTREPID MANAGEMENT, INC. C. CARL SCHULTZ IS PRESIDENT OF THE ENTITY AND IS AN OWNER OF UNITED PROPERTIES MANAGEMENT, INC. C. CARL SCHULTZ, CYNTHIA KNOERR, AND JEFFREY OWENS ARE EQUAL OWNERS OF THE ENTITY JCC I-30, LLC.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0C. CARL SCHULTZ CYNTHIA KNOERR PRESIDENT SECRETARY SIBLINGS C. CARL SCHULTZ JEFFREY OWENS PRES/SEC TREASURER EMPLOYER/EMPLOYEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD HAS DELEGATED MANAGEMENT CONTROL TO A MANAGEMENT COMPANY, INTREPID MANAGEMENT, INC. ALL DECISIONS, EXCEPT REVIEW OF THE ANNUAL AUDIT AND FORM 990 TAX RETURN, ARE MADE BY THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE NUMBER OF DIRECTORS OF THE CORPORATION SHALL BE THREE (3), WHO SHALL ELECT THEIR SUCCESSORS, IN THE EVENT OF A VACANCY, AND WHO SHALL ELECT THE OFFICERS OF THE CORPORATION. ALL DIRECTORS AND OFFICERS SHALL SERVE ONE YEAR TERMS, BUT SHALL SERVE UNTIL THEIR SUCCESSORS ARE ELECTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TAX FORM 990 IS PREPARED BY AN EXTERNAL CPA FIRM AND PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL RELATED PARTY INFORMATION IS DISCLOSED IN THE ANNUAL FINANCIAL REPORT THAT IS SUBMITTED TO THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE NOT PROVIDED FOR PUBLIC ACCESS BUT CAN BE REVIEWED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalLiabilitiesGrp/EOYAmt0892230
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IRS990/TotalProgramServiceExpensesAmt0366324
IRS990/TotalProgramServiceRevenueAmt0549147
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-342786
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-295383
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08101 I-30
IRS990/USAddress/AddressLine2Txt08101 I-30
IRS990/USAddress/CityNm0LITTLE ROCK
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072209
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0C CARL SCHULTZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$596,847
Liabilities
$892,230
Net assets
-$295,383
Revenue
$549,216
Expenses
$501,813
Net income
$47,403
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.73$1.96$0.23$0.69$0.69$0.00
2024Detailed filing. Detailed filing data is available for this year.$1.76$1.99$0.23$0.60$0.68$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.88$2.03$0.15$0.81$0.62$0.18
2022Detailed filing. Detailed filing data is available for this year.$1.77$2.10$0.33$0.62$0.61$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.81$2.14$0.34$0.60$0.57$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.88$2.25$0.37$0.59$0.52$0.06
2019Detailed filing. Detailed filing data is available for this year.$1.78$2.22$0.44$0.57$0.57$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.83$2.27$0.44$0.53$0.52$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.92$2.38$0.45$0.48$0.64$0.16
2016Detailed filing. Detailed filing data is available for this year.$0.60$0.89$0.30$0.55$0.50$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.75$1.09$0.34$0.54$0.51$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.65$1.02$0.37$0.54$0.50$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$1.08$0.41$0.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$1.13$0.46$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$1.19$0.51$0.48