Civic Intelligence

The Palms Retirement Center Inc.

990 • Fiscal year 2017 • EIN 74-2247344

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 30, 2018

Organization ProfileN/A
525 E Davis StreetHarlingen, TX 78550

(956) 421-4331

Siviq Scores

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

Liabilities / Assets

94th percentile

1.19x

Higher debt load relative to assets than 94% of similar nonprofits.

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

Liabilities / Revenue

93rd percentile

3.06x

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

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

Net Margin

37th percentile

-0.5%

Higher net margin than 37% of similar nonprofits.

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

Top Officer Pay

42nd percentile

$40,267

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

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

Asset Growth

8th percentile

-15%

Faster asset growth than 8% of similar nonprofits.

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

Revenue Growth

44th percentile

2.1%

Faster revenue growth than 44% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$1,442,964

Down $247,558 (-15%) from 2016

Net Assets

Down

-$276,143

Down $2,744 (-1.0%) from 2016

Liabilities

Down

$1,719,107

Down $244,814 (-12%) from 2016

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin37th percentile

Revenue

Up

$562,079

Up $11,774 (+2.1%) from 2016

Expenses

Up

$564,823

Up $14,241 (+2.6%) from 2016

Net Income

Down

-$2,744

Down $2,467 (-891%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth8th 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: $1,685,244Liabilities 2011: $2,148,765Net Assets 2011: -$463,5212011Assets 2012: $1,677,546Liabilities 2012: $2,101,153Net Assets 2012: -$423,6072012Assets 2013: $1,719,018Liabilities 2013: $2,080,418Net Assets 2013: -$361,4002013Assets 2014: $1,728,580Liabilities 2014: $2,037,738Net Assets 2014: -$309,1582014Assets 2015: $1,740,543Liabilities 2015: $2,013,665Net Assets 2015: -$273,1222015Assets 2016: $1,690,522Liabilities 2016: $1,963,921Net Assets 2016: -$273,3992016Assets 2017: $1,442,964Liabilities 2017: $1,719,107Net Assets 2017: -$276,1432017Assets 2018: $1,405,936Liabilities 2018: $1,682,221Net Assets 2018: -$276,2852018Assets 2019: $1,369,689Liabilities 2019: $1,641,443Net Assets 2019: -$271,7542019Assets 2020: $1,335,310Liabilities 2020: $1,597,474Net Assets 2020: -$262,1642020Assets 2021: $1,287,448Liabilities 2021: $1,551,894Net Assets 2021: -$264,4462021Assets 2022: $1,059,280Liabilities 2022: $1,503,422Net Assets 2022: -$444,1422022Assets 2023: $1,051,397Liabilities 2023: $1,452,708Net Assets 2023: -$401,3112023Assets 2024: $1,047,771Liabilities 2024: $1,398,531Net Assets 2024: -$350,7602024

Highlighted filing

2017

Assets$1,442,964
Liabilities$1,719,107
Net Assets-$276,143
Open 2017 Filing

Operations Trend

Revenue Growth44th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $570,9482011Expenses 2012: $556,1302012Expenses 2013: $537,6422013Revenue 2014: $606,073Expenses 2014: $553,831Net Income 2014: $52,2422014Revenue 2015: $595,391Expenses 2015: $559,355Net Income 2015: $36,0362015Revenue 2016: $550,305Expenses 2016: $550,582Net Income 2016: -$2772016Revenue 2017: $562,079Expenses 2017: $564,823Net Income 2017: -$2,7442017Revenue 2018: $562,822Expenses 2018: $562,964Net Income 2018: -$1422018Revenue 2019: $577,947Expenses 2019: $573,416Net Income 2019: $4,5312019Revenue 2020: $585,271Expenses 2020: $575,681Net Income 2020: $9,5902020Revenue 2021: $587,429Expenses 2021: $589,711Net Income 2021: -$2,2822021Revenue 2022: $399,317Expenses 2022: $579,013Net Income 2022: -$179,6962022Revenue 2023: $619,200Expenses 2023: $576,369Net Income 2023: $42,8312023Revenue 2024: $647,580Expenses 2024: $597,029Net Income 2024: $50,5512024

Highlighted filing

2017

Revenue$562,079
Expenses$564,823
Net Income-$2,744
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 30, 2018
Return Version
2016v3.0
Gross Receipts
$562,079
Mission and Program Overview

Mission

The project is operated as an apartment complex of 18 efficiency and 45 one bedroom units for elderly or disabled persons with low income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,036,915$981,641▼ $55,274
Savings and Temporary Cash Investments$395,820$397,014▲ $1,194
Prepaid Expenses and Deferred Charges$46,621$44,424▼ $2,197
Cash and Non-Interest-Bearing Accounts$12,329$19,460▲ $7,131
Total Assets$1,690,522$1,442,964▼ $247,558
Other Assets Total$198,837$425▼ $198,412
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,927,064$1,692,090▼ $234,974
Other Liabilities$15,757$15,706▼ $51
Accounts Payable and Accrued Expenses$21,100$11,311▼ $9,789
Total Liabilities$1,963,921$1,719,107▼ $244,814
Net Assets / Fund Balance
Unrestricted Net Assets$-273,399$-276,143▼ $2,744
Total Net Assets Fund Balance$-273,399$-276,143▼ $2,744
Total Liabilities and Net Assets / Fund Balance$1,690,522$1,442,964▼ $247,558

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$894,197$1,419,508$2,313,705
Equipment$57,058$88,125$145,183
Leasehold Improvements$12,386$24,294$36,680
Other Land Buildings-$18,088$18,088
Land$18,000-$18,000
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleBaseTotal
Evaristo MelgozaSite Mgr$40,267$40,267

Board Members and Trustees

NameTitle
Melvin D JusticePresident
Dan M HatfieldDirector
Rachel HendrixDirector
Sylvia HembreeDirector
Tyler JonesDirector
Edward H WittingtonSecretary
Mike SullivanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$356,668
Program Service Revenue
$192,264
Investment Income
$103
Other Revenue
$13,044
Change in Net Assets
$-2,744

Audited Revenue Reconciliation

Revenue per Audited Statements
$562,079
Total Revenue per Audited Statements
$562,079
Total Revenue per Form 990
$562,079
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$426,762
Salaries, Compensation, and Employee Benefits$138,061
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$98,918--$98,918
Depreciation Depletion$63,255$11,163-$74,418
Other Salaries and Wages$56,101$9,900-$66,001
Occupancy$37,650$24,442-$62,092
Insurance$50,017$8,826-$58,843
Current Officers, Directors, Trustees, and Key Employees$34,227$6,040-$40,267
Fees for Services Other$39,749--$39,749
Fees for Services Management$27,979$4,937-$32,916
Other Employee Benefits$19,689$3,475-$23,164
Office Expenses$18,334$3,235-$21,569
Fees for Services Accounting-$9,750-$9,750
Payroll Taxes$7,335$1,294-$8,629
Advertising$1,266--$1,266
Other Expenses$845$149-$994
Total Functional Expenses$480,100$84,723$0$564,823

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$564,823
Total Expenses per Audited Statements$564,823
Total Expenses per Form 990$564,823
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
Security Deposit$15,706
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes
Conflict-of-interest policy
No
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 3

“The palm's retirement center, inc. Pays a management fee to trevecca management company amounting to 6% of gross rent collections. Trevecca managment company in turn provides the palm's retirement center, inc. With management assistance throughout the fiscal year.”

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

“The form 990 is reviewed by the managing agent before it is filed with the irs.”

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

“Trevecca management company representative approves salaries and they are reviewed in june of each fiscal year, adjustments to be made effective at the beginning of each fiscal year on july 1.”

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

“Where applicable, trevecca management company representative approves salaries for officers and/or managers and they are reviewed in june of each fiscal year, adjustments to be made effective at the beginning of each fiscal year on july 1.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, form 990, and financial statements are available to the public upon request. Each request is reviewed by the board. If the request is approved by the board, the document is released to the requestor.”

Filing and Contact Details

Filer

Filer Name
The Palms Retirement Center
EIN
74-2247344
Phone
9564214331
Address
525 E DAVIS STREET, HARLINGEN, TX 78550

Signing Officer

Name
Melvin D Justice
Title
President
Phone
9564214331
Signed
2018-03-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melvin D Justice
Voting Board Members
7
Independent Board Members
7
Employees
5

Preparer

Firm
Carr Riggs & Ingram LLC
Address
402 E TYLER AVE, HARLINGEN, TX 78550-9122
Preparer
Quentin Anderson CPA
Phone
9564233765
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME 63,847
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0122
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IRS990ScheduleA/PublicSupportPY170Pct00.96770
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IRS990ScheduleA/TotalSupportAmt01976416
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02313705
IRS990ScheduleD/EquipmentGrp/BookValueAmt057058
IRS990ScheduleD/EquipmentGrp/DepreciationAmt088125
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0145183
IRS990ScheduleD/ExpensesSubtotalAmt0564823
IRS990ScheduleD/LandGrp/BookValueAmt018000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt018000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt012386
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt024294
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
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IRS990ScheduleD/TotalExpensesPerForm990Amt0564823
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IRS990ScheduleD/TotalRevenuePerForm990Amt0562079
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PALM'S RETIREMENT CENTER, INC. PAYS A MANAGEMENT FEE TO TREVECCA MANAGEMENT COMPANY AMOUNTING TO 6% OF GROSS RENT COLLECTIONS. TREVECCA MANAGMENT COMPANY IN TURN PROVIDES THE PALM'S RETIREMENT CENTER, INC. WITH MANAGEMENT ASSISTANCE THROUGHOUT THE FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE MANAGING AGENT BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TREVECCA MANAGEMENT COMPANY REPRESENTATIVE APPROVES SALARIES AND THEY ARE REVIEWED IN JUNE OF EACH FISCAL YEAR, ADJUSTMENTS TO BE MADE EFFECTIVE AT THE BEGINNING OF EACH FISCAL YEAR ON JULY 1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WHERE APPLICABLE, TREVECCA MANAGEMENT COMPANY REPRESENTATIVE APPROVES SALARIES FOR OFFICERS AND/OR MANAGERS AND THEY ARE REVIEWED IN JUNE OF EACH FISCAL YEAR, ADJUSTMENTS TO BE MADE EFFECTIVE AT THE BEGINNING OF EACH FISCAL YEAR ON JULY 1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, FORM 990, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. EACH REQUEST IS REVIEWED BY THE BOARD. IF THE REQUEST IS APPROVED BY THE BOARD, THE DOCUMENT IS RELEASED TO THE REQUESTOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0480100
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IRS990/TotalLiabilitiesGrp/EOYAmt01719107
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MELVIN D JUSTICE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09564214331
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PALMS RETIREMENT CENTER
ReturnHeader/Filer/BusinessNameControlTxt0PALM
ReturnHeader/Filer/EIN0742247344
ReturnHeader/Filer/PhoneNum09564214331
ReturnHeader/Filer/USAddress/AddressLine1Txt0525 E DAVIS STREET
ReturnHeader/Filer/USAddress/CityNm0HARLINGEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078550
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARR RIGGS & INGRAM LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0402 E TYLER AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HARLINGEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0785509122
ReturnHeader/PreparerPersonGrp/PhoneNum09564233765
ReturnHeader/PreparerPersonGrp/PreparationDt02018-04-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0QUENTIN ANDERSON CPA
ReturnHeader/ReturnTs02018-04-05T18:45:25-05:00
ReturnHeader/ReturnTypeCd0990

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,442,964
Liabilities
$1,719,107
Net assets
-$276,143
Revenue
$562,079
Expenses
$564,823
Net income
-$2,744
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.05$1.40$0.35$0.65$0.60$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.05$1.45$0.40$0.62$0.58$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.06$1.50$0.44$0.40$0.58$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.29$1.55$0.26$0.59$0.59$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.34$1.60$0.26$0.59$0.58$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.37$1.64$0.27$0.58$0.57$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.41$1.68$0.28$0.56$0.56$0.00
2017Detailed filing. Detailed filing data is available for this year.$1.44$1.72$0.28$0.56$0.56$0.00
2016Detailed filing. Detailed filing data is available for this year.$1.69$1.96$0.27$0.55$0.55$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.74$2.01$0.27$0.60$0.56$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.73$2.04$0.31$0.61$0.55$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.72$2.08$0.36$0.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$2.10$0.42$0.56
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.69$2.15$0.46$0.57