Civic Intelligence

Chiara Communities Inc.

990 • Fiscal year 2024 • EIN 72-1525725

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 29, 2025

20875 Crossroads Cir 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

1.02x

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

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

90th percentile

4.00x

Higher debt load relative to revenue than 90% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

48th percentile

3.5%

Higher net margin than 48% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

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

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

18th percentile

-1.0%

Faster asset growth than 18% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

51st percentile

8.8%

Faster revenue growth than 51% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Down

$154,491,888

Down $1,524,972 (-1.0%) from 2023

Net Assets

Up

-$2,937,517

Up $1,384,504 (+32%) from 2023

Liabilities

Down

$157,429,405

Down $2,909,476 (-1.8%) from 2023

Revenue

Up

$39,347,817

Up $3,197,764 (+8.8%) from 2023

Expenses

Up

$37,963,313

Up $1,870,214 (+5.2%) from 2023

Net Income

Up

$1,384,504

Up $1,327,550 (+2331%) from 2023

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

2024

Assets$154,491,888
Liabilities$157,429,405
Net Assets-$2,937,517

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

2024

Revenue$39,347,817
Expenses$37,963,313
Net Income$1,384,504
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 29, 2025
Return Version
2024v5.0
Gross Receipts
$39,347,817
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 experiencing the aging process.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$133,370,577$131,398,641▼ $1,971,936
Intangible Assets$8,314,422$7,883,781▼ $430,641
Cash and Non-Interest-Bearing Accounts$1,632,778$1,903,279▲ $270,501
Savings and Temporary Cash Investments$1,362,649$1,524,173▲ $161,524
Prepaid Expenses and Deferred Charges$958,081$996,350▲ $38,269
Accounts Receivable$691,980$772,233▲ $80,253
Rtn Earn Endowment Incm Other Fnds$-4,322,021$-2,937,517▲ $1,384,504
Total Assets$156,016,860$154,491,888▼ $1,524,972
Other Assets Total$9,686,373$10,013,431▲ $327,058
Liabilities
Tax Exempt Bond Liabilities$151,490,000$149,040,000▼ $2,450,000
Accounts Payable and Accrued Expenses$5,624,339$5,936,814▲ $312,475
Unsecured Notes Loans Payable$2,229,216$1,531,240▼ $697,976
Deferred Revenue$689,200$708,906▲ $19,706
Other Liabilities$306,126$212,445▼ $93,681
Total Liabilities$160,338,881$157,429,405▼ $2,909,476
Net Assets / Fund Balance
Total Net Assets Fund Balance$-4,322,021$-2,937,517▲ $1,384,504
Total Liabilities and Net Assets / Fund Balance$156,016,860$154,491,888▼ $1,524,972

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$117,192,722$25,924,882-
Other Land Buildings$232,133$0-
Land$10,600,000-$0
Equipment$2,192,349$3,330,379-
Leasehold Improvements$1,181,437$142,626-
Other Assets Org$4,796,354--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Glen ChobanPresident/Director
Fr Timothy KitzkeDirector
Ricardo DiazDirector
Kathleen GaleSecretary/Director
Russell McMinnTreasurer/Director

Highest Paid Contractors

ContractorServicesLocationCompensation
Capri Communities LLCProvide management services20875 Crossroads Circle Suite 400, Waukesha, WI 53186$5,103,191
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$38,904,154
Investment Income
$443,663
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$1,384,504

Audited Revenue Reconciliation

Revenue per Audited Statements
$39,347,817
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$39,347,817
Total Revenue per Form 990
$39,347,817
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,155,149
Salaries, Compensation, and Employee Benefits$12,808,164
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,878,381$2,063,410$0$10,941,791
Occupancy$8,495,190$0-$8,495,190
Depreciation Depletion$5,762,734$0$0$5,762,734
Fees for Services Management$0$2,779,832-$2,779,832
Fees for Services Other$1,932,686$449,173-$2,381,859
Payroll Taxes$760,735$176,801$0$937,536
Other Employee Benefits$753,676$175,161$0$928,837
Advertising$0$709,056$0$709,056
Information Technology$622,774$0$0$622,774
Insurance$554,023$0$0$554,023
All Other Expenses$493,005$0$0$493,005
Other Expenses$440,049$0-$440,049
Office Expenses$135,808$0$0$135,808
Fees for Services Accounting$96,201$0-$96,201
Travel$90,895$0$0$90,895
Fees for Services Legal$62,207$0-$62,207
Interest$7,863$0-$7,863
Total Functional Expenses$31,609,880$6,353,433$0$37,963,313

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$37,963,313
Total Expenses per Audited Statements$37,963,313
Total Expenses per Form 990$37,963,313
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$385,994
Capital Leases$3,788
Bond Premium/Discount$-177,337

Bond Issues

BondIssuerIssuedIssue PricePurpose
AWhefa2018-07-31$156,465,000To fund purchase of 11 senior living campuses - see attached list of bonds

Bond Proceeds

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

Bond Financing Compliance

No rebate due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
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
Yes
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
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

a copy was sent to the Board members to review and approve prior to transmitting to the IRS

Part VI, Line 12C

Board members are required to sign a conflict of interest policy upon becoming a board member and are required to update the form as needed on an annual basis

Part VI, Line 19

Financial statements and other pertinent financial and business information are available online through the EMMA (MSRB) website as required by the Trustee Indenture and Loan Agreement. Other items sch as Board information are available upon request.

Part VI, Line 3

There is a signed management agreement with Capri Communities, LLC to perform all the management duties with the approval and guidance of the Board.

Filing and Contact Details

Filer

Filer Name
Chiara Communities Inc
EIN
72-1525725
Phone
2627981224
Address
20875 CROSSROADS CIR STE 400, WAUKESHA, WI 53186

Signing Officer

Name
Glen Choban
Title
President
Phone
2627981224
Signed
2025-04-29

Organization Details

Principal Officer
Glen Choban Board Chairman
Formed
2015
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
0
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IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0958081
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0996350
IRS990/PrincipalOfficerNm0Glen Choban Board Chairman
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0623990
IRS990/ProgramServiceRevenueGrp/Desc0Other Residential Care Services
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt038904154
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt038904154
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0367243
IRS990/PYOtherExpensesAmt024214850
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt035782810
IRS990/PYRevenuesLessExpensesAmt056954
IRS990/PYSalariesCompEmpBnftPaidAmt011878249
IRS990/PYTotalExpensesAmt036093099
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt036150053
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01384504
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt038904154
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-4322021
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-2937517
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01362649
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01524173
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Revenue from the business activity of providing a home and care for our senior residents
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part 11, Line 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt092898
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt092898
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0443663
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0367243
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt081845
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01951
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt024732
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0919434
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt038904154
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt035782810
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt032934037
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt029627600
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt029857376
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0167105977
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PrivateFoundation170Ind0X
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00060
IRS990ScheduleA/PublicSupportPY170Pct00.00060
IRS990ScheduleA/PublicSupportTotal170Amt092898
IRS990ScheduleA/SupportedOrganizationsCnt00
IRS990ScheduleA/SupportedOrganizationsTotalCnt00
IRS990ScheduleA/SupportSumAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt092898
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt092898
IRS990ScheduleA/TotalSupportAmt0168118309
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0117192722
IRS990ScheduleD/BuildingsGrp/DepreciationAmt025924882
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0143117604
IRS990ScheduleD/EquipmentGrp/BookValueAmt02192349
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03330379
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt05522728
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt037963313
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/LandGrp/BookValueAmt010600000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt010600000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01181437
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0142626
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt01324063
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt027371
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1648083
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22759720
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3844673
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4551236
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt5385994
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt64796354
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Administration Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Tax and Insurance Escrow
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Debt Service Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Revenue Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4Operations & Maintenance Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5Tenant Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6Bond Principal & Interest Fund
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0232133
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0232133
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-177337
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1385994
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt23788
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Bond Premium/Discount
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant Security Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Capital Leases
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt039347817
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0131398641
IRS990ScheduleD/TotalBookValueOtherAssetsAmt010013431
IRS990ScheduleD/TotalExpensesPerForm990Amt037963313
IRS990ScheduleD/TotalLiabilityAmt0212445
IRS990ScheduleD/TotalRevenuePerForm990Amt039347817
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt039347817
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt037963313
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0true
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0WHEFA - Wisconsin Health & Educational Facilities Authority
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt1CUSIP number - 45 registered bonds - see supplementary information attachment with complete list
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule K, Part 1, Box A
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule K, Part 1, Box C
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0true
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfGICPct00.000000000000
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfHedgePct00.000000000000

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