Civic Intelligence

Chiara Communities Inc.

990 • Fiscal year 2022 • EIN 72-1525725

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 25, 2023

20875 Crossroads Circle Ste 400Waukesha, WI 53186

(262) 798-1224

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.03x

Higher debt load relative to assets than 93% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

91st percentile

4.90x

Higher debt load relative to revenue than 91% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

22nd percentile

-3.9%

Higher net margin than 22% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

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

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

48th percentile

-2.3%

Faster asset growth than 48% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

66th percentile

12%

Faster revenue growth than 66% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Assets

Down

$157,879,032

Down $3,757,057 (-2.3%) from 2021

Net Assets

Down

-$4,378,977

Down $1,279,509 (-41%) from 2021

Liabilities

Down

$162,258,009

Down $2,477,548 (-1.5%) from 2021

Revenue

Up

$33,108,780

Up $3,479,229 (+12%) from 2021

Expenses

Up

$34,388,287

Up $2,767,931 (+8.8%) from 2021

Net Income

Up

-$1,279,507

Up $711,298 (+36%) from 2021

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0-$50MAssets 2018: $171,098,309Liabilities 2018: $171,433,456Net Assets 2018: -$335,1472018Assets 2019: $166,919,222Liabilities 2019: $168,990,327Net Assets 2019: -$2,071,1052019Assets 2020: $165,701,063Liabilities 2020: $166,809,728Net Assets 2020: -$1,108,6652020Assets 2021: $161,636,089Liabilities 2021: $164,735,557Net Assets 2021: -$3,099,4682021Assets 2022: $157,879,032Liabilities 2022: $162,258,009Net Assets 2022: -$4,378,9772022Assets 2023: $156,016,860Liabilities 2023: $160,338,881Net Assets 2023: -$4,322,0212023Assets 2024: $154,491,888Liabilities 2024: $157,429,405Net Assets 2024: -$2,937,5172024

Highlighted filing

2022

Assets$157,879,032
Liabilities$162,258,009
Net Assets-$4,378,977

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2018: $13,522,077Expenses 2018: $13,857,224Net Income 2018: -$335,1472018Revenue 2019: $29,809,025Expenses 2019: $31,544,983Net Income 2019: -$1,735,9582019Revenue 2020: $32,047,611Expenses 2020: $42,445,616Net Income 2020: -$10,398,0052020Revenue 2021: $29,629,551Expenses 2021: $31,620,356Net Income 2021: -$1,990,8052021Revenue 2022: $33,108,780Expenses 2022: $34,388,287Net Income 2022: -$1,279,5072022Revenue 2023: $36,150,053Expenses 2023: $36,093,099Net Income 2023: $56,9542023Revenue 2024: $39,347,817Expenses 2024: $37,963,313Net Income 2024: $1,384,5042024

Highlighted filing

2022

Revenue$33,108,780
Expenses$34,388,287
Net Income-$1,279,507
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 25, 2023
Return Version
2022v5.0
Gross Receipts
$33,108,780
Mission and Program Overview

Mission

Chiara's mission is to provide affordable housing and healthcare to at risk poplulations most targeted to people who are experiencing the aging process

To provide affordable housing and care to at risk populations mainly those people experiencing the aging process

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$138,010,916$135,422,729▼ $2,588,187
Intangible Assets$9,192,717$8,750,829▼ $441,888
Cash and Non-Interest-Bearing Accounts$2,175,231$1,520,912▼ $654,319
Savings and Temporary Cash Investments$1,516,544$1,169,373▼ $347,171
Prepaid Expenses and Deferred Charges$712,740$775,196▲ $62,456
Accounts Receivable$683,936$686,632▲ $2,696
Rtn Earn Endowment Incm Other Fnds$-3,099,468$-4,378,977▼ $1,279,509
Total Assets$161,636,089$157,879,032▼ $3,757,057
Other Assets Total$9,344,005$9,553,361▲ $209,356
Liabilities
Tax Exempt Bond Liabilities$156,110,000$153,845,000▼ $2,265,000
Accounts Payable and Accrued Expenses$5,268,076$5,284,335▲ $16,259
Unsecured Notes Loans Payable$2,154,621$2,198,873▲ $44,252
Deferred Revenue$587,409$483,919▼ $103,490
Other Liabilities$615,451$445,882▼ $169,569
Total Liabilities$164,735,557$162,258,009▼ $2,477,548
Net Assets / Fund Balance
Total Net Assets Fund Balance$-3,099,468$-4,378,977▼ $1,279,509
Total Liabilities and Net Assets / Fund Balance$161,636,089$157,879,032▼ $3,757,057

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$122,115,525$16,106,012-
Other Land Buildings$264,911$0-
Land$10,600,000--
Equipment$2,112,287$2,949,296-
Leasehold Improvements$330,006$65,028-
Other Assets Org$562,428--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Glen ChobanPresident/Director
Fr Tim KitzkeDirector
Jane HoppDirector
Ricardo DiazDirector
Kathleen GaleSecretary/Director
Russell McMinnTreasurer/Director

Highest Paid Contractors

ContractorServicesLocationCompensation
Capri Communities IncCapri Communities20875 Crossroads Cir Ste 400, Waukesha, WI 53186$4,255,702
Revenue and Support

Revenue Composition

Contributions and Grants
$92,898
Program Service Revenue
$32,934,037
Investment Income
$81,845
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$-1,279,507

Audited Revenue Reconciliation

Revenue per Audited Statements
$33,108,780
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$33,108,780
Total Revenue per Form 990
$33,108,780
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$23,725,510
Salaries, Compensation, and Employee Benefits$10,662,777
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,449,934$1,676,134$0$9,126,068
Occupancy$8,774,174--$8,774,174
Depreciation Depletion$5,166,834--$5,166,834
Fees for Services Management$0$2,366,256-$2,366,256
Fees for Services Other$1,591,157$357,989$0$1,949,146
All Other Expenses$894,949$0-$894,949
Other Employee Benefits$645,441$145,216-$790,657
Payroll Taxes$609,029$137,023-$746,052
Advertising$0$568,653-$568,653
Information Technology$550,271--$550,271
Insurance$441,241--$441,241
Other Expenses$301,778$0-$301,778
Travel$153,962--$153,962
Office Expenses$143,900--$143,900
Fees for Services Accounting$77,849--$77,849
Fees for Services Legal$23,904--$23,904
Interest$7,066--$7,066
Total Functional Expenses$29,137,016$5,251,271$0$34,388,287

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$34,388,287
Total Expenses per Audited Statements$34,388,287
Total Expenses per Form 990$34,388,287
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Tenant Security Deposits$562,428
Capital Leases$25,469
Bond Discount/Premium$-142,015

Bond Issues

BondIssuerIssuedIssue PricePurpose
AWhefa2018-07-30$156,465,000TO fund purchase of 11 senior living campuses. See attached list of issued bonds.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$156,465,000$0$0$0

Bond Financing Compliance

Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Part VI, Line 11B

Reviewed at scheduled Board meeting where the annual audit is also reviewed

Part VI, Line 12C

Signed agreement with annual updates required of Board

Part VI, Line 19

The information is available upon request and through the Electronic Municipal Securities Access (EMMA)

Filing and Contact Details

Filer

Filer Name
Chiara Communities Inc
EIN
72-1525725
Address
20875 Crossroads Circle Ste 400, Waukesha, WI 53186

Signing Officer

Name
Glen Choban
Title
President
Signed
2023-04-25

Organization Details

Formed
2015
Legal Domicile
Wi
Voting Board Members
6
Independent Board Members
6
Employees
0
Supplemental Narrative

Additional Explanations

Part IX, Line 11G

Reimbursement for administrative fees such as accounting, HR and sales and marketing systems and fees paid by the management company (Capri Communities, Inc) as per the Management Agreement dated 7/31/2018.

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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0712740
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0775196
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Carol Charon
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0623990
IRS990/ProgramServiceRevenueGrp/Desc0Other Residential Care Facilities
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt032934037
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt032934037
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01951
IRS990/PYOtherExpensesAmt022332582
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt029627600
IRS990/PYRevenuesLessExpensesAmt0-1990805
IRS990/PYSalariesCompEmpBnftPaidAmt09287774
IRS990/PYTotalExpensesAmt031620356
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt029629551
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-1279507
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt032934037
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-3099468
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-4378977
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01516544
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01169373
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt092898
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt092898
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt081845
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01951
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt024732
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0137839
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt034299
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0280666
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt032934037
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt029627600
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt029857376
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt029671186
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt012262778
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0134352977
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00070
IRS990ScheduleA/PublicSupportPY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt092898
IRS990ScheduleA/SupportedOrganizationsCnt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt092898
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt092898
IRS990ScheduleA/TotalSupportAmt0134726541
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0122115525
IRS990ScheduleD/BuildingsGrp/DepreciationAmt016106012
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0138221537
IRS990ScheduleD/EquipmentGrp/BookValueAmt02112287
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02949296
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt05061583
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt034388287
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/LandGrp/BookValueAmt010600000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt010600000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0330006
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt065028
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0395034
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02314
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1475582
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22730667
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3500890
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt44780925
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt5476097
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt6-5230
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt729688
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt8562428
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Project Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Tax and Insurance Escrow
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Debt Service Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Revenue Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4Bond Principal and Interest Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5Operations and Maintenance Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6Surplus Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc7Administration Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc8Tenants Deposit
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0264911
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0264911
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt025469
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-142015
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2562428
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Capital Leases
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Bond Discount/Premium
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Tenant Security Deposits
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt033108780
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0135422729
IRS990ScheduleD/TotalBookValueOtherAssetsAmt09553361
IRS990ScheduleD/TotalExpensesPerForm990Amt034388287
IRS990ScheduleD/TotalLiabilityAmt0445882
IRS990ScheduleD/TotalRevenuePerForm990Amt033108780
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt033108780
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt034388287
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0true
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0WHEFA - Wisconsin Health and Educational Facilities Authority
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt1CUSIP Number: 45 registered bonds - see supplementary information attachment with full list
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule K, Part I, Bond A column (a)
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule K, Part I, Bond A Column (c)
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0true
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfGICPct00.000000000000
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfHedgePct00.000000000000
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0true
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02018-07-30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0391337855
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A

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