Civic Intelligence

Trinity Place Apartments Inc

990 • Fiscal year 2017 • EIN 74-2235175

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 23, 2018

Organization ProfileWWW.TRINITYPLACEAPARTMENTS.ORG
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

92nd percentile

1.01x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

90th percentile

1.92x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

74th percentile

16%

Higher net margin than 74% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

55th percentile

$72,640

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 10.6% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

28th percentile

-2.6%

Faster asset growth than 28% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

31st percentile

-2.4%

Faster revenue growth than 31% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$1,293,598

Down $34,164 (-2.6%) from 2016

Net Assets

Up

-$14,615

Up $106,060 (+88%) from 2016

Liabilities

Down

$1,308,213

Down $140,224 (-9.7%) from 2016

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin74th percentile

Revenue

Down

$682,497

Down $16,519 (-2.4%) from 2016

Expenses

Down

$576,437

Down $76,155 (-12%) from 2016

Net Income

Up

$106,060

Up $59,636 (+128%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

2017

Assets$1,293,598
Liabilities$1,308,213
Net Assets-$14,615
Open 2017 Filing

Operations Trend

Revenue Growth31st percentile

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

2017

Revenue$682,497
Expenses$576,437
Net Income$106,060
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 23, 2018
Return Version
2017v2.3
Gross Receipts
$682,497
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$838,951$823,543▼ $15,408
Savings and Temporary Cash Investments$404,124--
Cash and Non-Interest-Bearing Accounts$82,808$17,086▼ $65,722
Prepaid Expenses and Deferred Charges$1,879$6,985▲ $5,106
Total Assets$1,327,762$1,293,598▼ $34,164
Other Assets Total-$445,984-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,310,485$1,229,104▼ $81,381
Accounts Payable and Accrued Expenses$115,632$56,288▼ $59,344
Other Liabilities$22,320$22,821▲ $501
Total Liabilities$1,448,437$1,308,213▼ $140,224
Net Assets / Fund Balance
Unrestricted Net Assets$-120,675$-14,615▲ $106,060
Total Net Assets Fund Balance$-120,675$-14,615▲ $106,060
Total Liabilities and Net Assets / Fund Balance$1,327,762$1,293,598▼ $34,164

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$541,769$2,583,905$3,125,674
Land$277,705-$277,705
Other Land Buildings$3,917$48,996$52,913
Equipment$152$15,370$15,522
Other Assets Org$23,168--
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sherry HoustonProperty ManFT$72,640$72,640

Board Members and Trustees

NameTitle
Rick SalvoPresident
David LeppinBoard Member
Pat PattersonBoard Member
Rev Elroy HaverlahSecretary
Penny BakerTreasurer
Vince BrunssenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$682,352
Investment Income
$145
Other Revenue
$0
Change in Net Assets
$106,060

Audited Revenue Reconciliation

Revenue per Audited Statements
$682,497
Total Revenue per Audited Statements
$682,497
Total Revenue per Form 990
$682,497
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$394,865
Salaries, Compensation, and Employee Benefits$181,572
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$165,879--$165,879
Interest$92,527--$92,527
Depreciation Depletion$81,438--$81,438
Occupancy$76,937--$76,937
Fees for Services Management-$30,557-$30,557
Office Expenses$23,624--$23,624
Fees for Services Accounting-$14,000-$14,000
Payroll Taxes$13,591--$13,591
Insurance$6,253--$6,253
Other Expenses$2,366--$2,366
Other Employee Benefits$2,102--$2,102
Conferences and Meetings$145--$145
Total Functional Expenses$531,880$44,557$0$576,437

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$576,437
Total Expenses per Audited Statements$576,437
Total Expenses per Form 990$576,437
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$22,821
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
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
No

Governance Explanations

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

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

Form 990, Page 6, Part VI, 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, Page 6, Part VI, Line 15A

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

Form 990, Page 6, Part VI, 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
Phone
5124591000
Address
PO BOX 140767, AUSTIN, TX 78714-0767

Signing Officer

Name
Rick Salvo
Title
President
Phone
5124591000
Signed
2018-03-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Salvo
Formed
1982
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
3
Volunteers
6

Preparer

Firm
Maddox & Associates Apc
Address
5627 BANKERS AVE BLDG 2, BATON ROUGE, LA 70808-2610
Preparer
William B Beale
Phone
2259263360
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

“Individuals may qualify for residency.”

Financial Statement Notes

Schedule D, Page 3, Part X

“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, 2017. 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, 2017 or 2016.”

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IRS990/Desc0TRINITY PLACE IS A COMFORTABLE, CONVENIENT AND CARING COMMUNITY (68-UNIT APARTMENT) FOR THE ELDERLY AND HANDICAPPED WHO QUALIFY FOR THE HUD 202/8 PROGRAM IN ROUND ROCK, TEXAS. THE GARDEN APARTMENTS ARE EQUIPPED WITH INDIVIDUAL CENTRAL HEATING AND AIR CONDITIONING SYSTEMS, SOME FLOORING OPTIONS IN UNITS FOR CARPET OR VINYL PLANKING, REFRIGERATORS AND ELECTRIC RANGES PROVIDED. TEN PERCENT OF THE UNITS ARE SPECIFICALLY PLANNED FOR THE HANDICAPPED. THE LARGE COMMUNITY CENTER PROVIDES FACILITIES FOR RECREATIONAL/SOCIAL ACTIVITIES, SERVCIES 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.
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2SECURITY DEPOSITS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TRINITY 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, 2017. 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, 2017 OR 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0445984
IRS990ScheduleD/TotalExpensesPerForm990Amt0576437
IRS990ScheduleD/TotalLiabilityAmt022821
IRS990ScheduleD/TotalRevenuePerForm990Amt0682497
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0682497
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0INDIVIDUALS MAY QUALIFY FOR RESIDENCY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT A MEETING OF THE BOARD, THE ENTIRE BOARD REVIEWS THE FORM 990 IN DETAIL AND THEN APPROVES IT FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD AND ITS MANAGEMENT CONSULTING PERSONNEL REVIEW THE COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR, COMPARE IT TO COMPARABLE POSITIONS, AND DISCUSS AND APPROVE CURRENT COMPENSATION PACKAGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0741109745
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MGMT OF PR
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,293,598
Liabilities
$1,308,213
Net assets
-$14,615
Revenue
$682,497
Expenses
$576,437
Net income
$106,060
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.29$0.01$0.29$3.33$0.24$3.10
2018Detailed filing. Detailed filing data is available for this year.$1.30$1.25$0.04$0.66$0.60$0.06
2017Detailed filing. Detailed filing data is available for this year.$1.29$1.31$0.01$0.68$0.58$0.11
2016Detailed filing. Detailed filing data is available for this year.$1.33$1.45$0.12$0.70$0.65$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.35$1.52$0.17$0.86$0.61$0.25
2014Detailed filing. Detailed filing data is available for this year.$1.20$1.62$0.41$0.69$0.66$0.03
2013Detailed filing. Detailed filing data is available for this year.$1.24$1.68$0.44$0.69$0.64$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.26$1.75$0.49$0.71
2011Summary only. Only limited summary data is available for this year.$1.33$1.81$0.47$0.68$0.65$0.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$1.86$0.50$0.61