Civic Intelligence

Trinity Place Apartments Inc

990 • Fiscal year 2016 • EIN 74-2235175

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

PO Box 140767Austin, TX 78714-0767

(512) 459-1000

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.09x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

90th percentile

2.07x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

62nd percentile

6.6%

Higher net margin than 62% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

54th percentile

$71,551

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 10.2% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

35th percentile

-1.9%

Faster asset growth than 35% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

-19%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,327,762

Down $26,035 (-1.9%) from 2015

Net Assets

Up

-$120,675

Up $46,424 (+28%) from 2015

Liabilities

Down

$1,448,437

Down $72,459 (-4.8%) from 2015

Revenue

Down

$699,016

Down $160,185 (-19%) from 2015

Expenses

Up

$652,592

Up $40,269 (+6.6%) from 2015

Net Income

Down

$46,424

Down $200,454 (-81%) from 2015

Historical Trend

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2010: $1,363,242Liabilities 2010: $1,863,464Net Assets 2010: -$500,2222010Assets 2011: $1,334,378Liabilities 2011: $1,807,648Net Assets 2011: -$473,2702011Assets 2012: $1,260,771Liabilities 2012: $1,752,489Net Assets 2012: -$491,7182012Assets 2013: $1,244,667Liabilities 2013: $1,683,868Net Assets 2013: -$439,2012013Assets 2014: $1,203,368Liabilities 2014: $1,617,346Net Assets 2014: -$413,9782014Assets 2015: $1,353,797Liabilities 2015: $1,520,896Net Assets 2015: -$167,0992015Assets 2016: $1,327,762Liabilities 2016: $1,448,437Net Assets 2016: -$120,6752016Assets 2017: $1,293,598Liabilities 2017: $1,308,213Net Assets 2017: -$14,6152017Assets 2018: $1,295,609Liabilities 2018: $1,254,005Net Assets 2018: $41,6042018Assets 2019: $294,838Liabilities 2019: $6,500Net Assets 2019: $288,3382019Assets 2020: $0Net Assets 2020: $02020

Highlighted filing

2016

Assets$1,327,762
Liabilities$1,448,437
Net Assets-$120,675

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0Expenses 2010: $608,5672010Revenue 2011: $676,589Expenses 2011: $649,639Net Income 2011: $26,9502011Expenses 2012: $705,0832012Revenue 2013: $687,793Expenses 2013: $635,275Net Income 2013: $52,5182013Revenue 2014: $685,373Expenses 2014: $660,149Net Income 2014: $25,2242014Revenue 2015: $859,201Expenses 2015: $612,323Net Income 2015: $246,8782015Revenue 2016: $699,016Expenses 2016: $652,592Net Income 2016: $46,4242016Revenue 2017: $682,497Expenses 2017: $576,437Net Income 2017: $106,0602017Revenue 2018: $657,211Expenses 2018: $600,992Net Income 2018: $56,2192018Revenue 2019: $3,332,115Expenses 2019: $235,381Net Income 2019: $3,096,7342019Expenses 2020: $12,4542020

Highlighted filing

2016

Revenue$699,016
Expenses$652,592
Net Income$46,424
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.1
Gross Receipts
$699,016
Mission and Program Overview

Mission

To provide low cost housing to the elderly and handicapped persons

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$859,159$838,951▼ $20,208
Savings and Temporary Cash Investments$382,572$404,124▲ $21,552
Cash and Non-Interest-Bearing Accounts$44,960$82,808▲ $37,848
Prepaid Expenses and Deferred Charges$5,385$1,879▼ $3,506
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,353,797$1,327,762▼ $26,035
Other Assets Total$61,721$0▼ $61,721
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,448,489$1,310,485▼ $138,004
Accounts Payable and Accrued Expenses$50,469$115,632▲ $65,163
Other Liabilities$21,938$22,320▲ $382
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,520,896$1,448,437▼ $72,459
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-167,099$-120,675▲ $46,424
Total Net Assets Fund Balance$-167,099$-120,675▲ $46,424
Total Liabilities and Net Assets / Fund Balance$1,353,797$1,327,762▼ $26,035

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$553,817$2,510,824$3,064,641
Land$277,705-$277,705
Other Land Buildings$4,335$50,227$54,562
Equipment$3,094$10,778$13,872
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Sherry HoustonProperty ManagerFT$71,551$71,551

Board Members and Trustees

NameTitle
Rick SalvoPresident
Vince BrunssenVice President
Pat PattersonBoard Member
Penny BakerBoard Member
Rev Elroy HaverlahSecretary
David LeppinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,275
Program Service Revenue
$686,319
Investment Income
$109
Other Revenue
$10,313
All Other Contributions
$2,275
Change in Net Assets
$46,424

Audited Revenue Reconciliation

Revenue per Audited Statements
$699,016
Total Revenue per Audited Statements
$699,016
Total Revenue per Form 990
$699,016
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$416,107
Salaries, Compensation, and Employee Benefits$236,485
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$105,480--$105,480
Other Salaries and Wages$98,819--$98,819
Interest$86,110--$86,110
Depreciation Depletion$80,074--$80,074
Current Officers, Directors, Trustees, and Key Employees$71,551$0$0$71,551
Other Employee Benefits$51,865--$51,865
Insurance$37,527--$37,527
Fees for Services Management-$30,403-$30,403
Fees for Services Accounting-$18,854-$18,854
Office Expenses$17,714--$17,714
Payroll Taxes$14,250--$14,250
Travel$4,548--$4,548
Other Expenses$977--$977
Conferences and Meetings$330--$330
All Other Expenses$268--$268
Fees for Services Other$66--$66
Total Functional Expenses$603,335$49,257$0$652,592

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$652,592
Total Expenses per Audited Statements$652,592
Total Expenses per Form 990$652,592
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$22,320
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

At a meeting of the board, the entire board reviews the form 990 in detail and then approves it for filing.

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

The officers, directors and trustees are required to give notice of any potential conflicts of interests as they arise during their term of service. If a conflict of interest exists, then the officer, director and trustee resigns from the board.

Form 990, Part VI, Section B, Line 15

The board and its management consulting personel review the compensation of the organization's executive director, compare it to comparable positions, and discuss and approve current compensation packages.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Trinity Place Apartments Inc
EIN
74-2235175
In Care Of
% LUTHERAN SOC SVCS OF THE SOU
Phone
5124591000
Address
PO BOX 140767, AUSTIN, TX 78714-0767

Signing Officer

Name
David Leppin
Title
Treasurer
Phone
5124591000
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Leppin
Formed
1982
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
3
Volunteers
6

Preparer

Firm
Bdo USA Llp
Address
9901 IH-10 Suite 500, San Antonio, TX 78230
Preparer
N Ari Berlin
Phone
2103428000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A

The large community center provides facilities for recreational/social activities, services and leisure. Special features include: library; gazebo and park; gameroom; community center; arts, crafts and hobby area; and coin-operated laundry room. Persons 62 years of age and older, single or married, as well as handicapped or disabled individuals may qualify for residency.

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

Trinity place is a not-for-profit organization exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except to the extent it has unrelated business activities. No provision for federal income taxes has been made in the accompanying financial statements. Trinity place accounts for uncertainty of income taxes based on a "more-likely-than-not" threshold for the recognition and de-recognition of tax positions, which includes the accounting for interest and penalties relating to tax positions. Trinity place currently does not have any tax positions that management would consider uncertain as of december 31, 2016. The company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recognized during the years presented. The company had no accruals for interest and penalties at december 31, 2016 or 2015.

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