Civic Intelligence

Willow Terrace Inc.

990 • Fiscal year 2020 • EIN 74-2835142

Jul 01, 2019 to Jun 30, 2020 • Filed on Dec 21, 2020

Organization Profile
PO Box 19035Albuoueroue, NM 87119

(505) 452-1553

Siviq Scores

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

Liabilities / Assets

92nd percentile

2.15x

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

2020 filings • NTEE L • <$500k nonprofits • Source year 2020

Liabilities / Revenue

94th percentile

11.08x

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

2020 filings • NTEE L • <$500k nonprofits • Source year 2020

Net Margin

16th percentile

-49%

Higher net margin than 16% of similar nonprofits.

2020 filings • NTEE L • <$500k nonprofits • Source year 2020

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

2020 filings • NTEE L • <$500k nonprofits • Source year 2020

Asset Growth

32nd percentile

-5.5%

Faster asset growth than 32% of similar nonprofits.

2020 filings • NTEE L • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

78th percentile

18%

Faster revenue growth than 78% of similar nonprofits.

2020 filings • NTEE L • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$462,459

Down $26,672 (-5.5%) from 2019

Net Assets

Down

-$531,687

Down $44,055 (-9.0%) from 2019

Liabilities

Up

$994,146

Up $17,383 (+1.8%) from 2019

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin16th percentile

Revenue

Up

$89,744

Up $13,997 (+18%) from 2019

Expenses

Up

$133,796

Up $30,444 (+29%) from 2019

Net Income

Down

-$44,052

Down $16,447 (-60%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2019: $489,131Liabilities 2019: $976,763Net Assets 2019: -$487,6322019Assets 2020: $462,459Liabilities 2020: $994,146Net Assets 2020: -$531,6872020Assets 2021: $441,685Liabilities 2021: $961,336Net Assets 2021: -$519,6512021Assets 2022: $416,209Liabilities 2022: $975,783Net Assets 2022: -$559,5742022Assets 2023: $390,365Liabilities 2023: $996,222Net Assets 2023: -$605,8572023Assets 2024: $383,223Liabilities 2024: $1,002,350Net Assets 2024: -$619,1272024

Highlighted filing

2020

Assets$462,459
Liabilities$994,146
Net Assets-$531,687
Open 2020 Filing

Operations Trend

Revenue Growth78th percentile

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

$200K$100K$0-$100KRevenue 2019: $75,747Expenses 2019: $103,352Net Income 2019: -$27,6052019Revenue 2020: $89,744Expenses 2020: $133,796Net Income 2020: -$44,0522020Revenue 2021: $122,542Expenses 2021: $110,502Net Income 2021: $12,0402021Revenue 2022: $109,429Expenses 2022: $149,352Net Income 2022: -$39,9232022Revenue 2023: $134,977Expenses 2023: $181,260Net Income 2023: -$46,2832023Revenue 2024: $145,051Expenses 2024: $158,320Net Income 2024: -$13,2692024

Highlighted filing

2020

Revenue$89,744
Expenses$133,796
Net Income-$44,052
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Dec 21, 2020
Return Version
2019v5.0
Gross Receipts
$89,744
Mission and Program Overview

Mission

To provide affordable housing for low income disabled person

To provide affordable housing for low income disabled persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$467,633$444,646▼ $22,987
Cash and Non-Interest-Bearing Accounts$663$2,368▲ $1,705
Prepaid Expenses and Deferred Charges-$160-
Accounts Receivable$77$1▼ $76
Total Assets$489,131$462,459▼ $26,672
Other Assets Total$20,758$15,284▼ $5,474
Liabilities
Unsecured Notes Loans Payable$953,200$953,200→ $0
Accounts Payable and Accrued Expenses$19,910$33,215▲ $13,305
Other Liabilities$3,504$7,581▲ $4,077
Deferred Revenue$149$150▲ $1
Total Liabilities$976,763$994,146▲ $17,383
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-487,632$-531,687▼ $44,055
Total Net Assets Fund Balance$-487,632$-531,687▼ $44,055
Total Liabilities and Net Assets / Fund Balance$489,131$462,459▼ $26,672

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$409,646$505,598$915,244
Land$35,000-$35,000
Equipment-$13,280$13,280
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Kara SummersPresident
Michelle DrumSecretary
Allen DrumTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$89,736
Investment Income
$8
Other Revenue
$0
Change in Net Assets
$-44,052

Audited Revenue Reconciliation

Revenue per Audited Statements
$89,744
Total Revenue per Audited Statements
$89,744
Total Revenue per Form 990
$89,744
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$133,796
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$22,988--$22,988
Fees for Services Management$12,083--$12,083
Insurance$10,302--$10,302
Fees for Services Accounting$8,576--$8,576
All Other Expenses$6,108--$6,108
Other Expenses$4,340--$4,340
Office Expenses$4,181--$4,181
Conferences and Meetings$1,780--$1,780
Total Functional Expenses$133,796$0$0$133,796

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$133,796
Total Expenses per Audited Statements$133,796
Total Expenses per Form 990$133,796
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
Accrued Property Tax$4,408
Security Deposit$3,173
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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

Form 990, Page 6, Part VI, Line 2

“Allen drum kara summers treasurer president michelle drum kara summmers secretary president”

Form 990, Page 6, Part VI, Line 3

“Management is provided by managing agent under a contract approved by u.s. Department of hud.”

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest are discussed at board meetings.”

Form 990, Page 6, Part VI, Line 19

“A copy of the tax return is provided free of charge upon request.”

Filing and Contact Details

Filer

Filer Name
Willow Terrace Inc
EIN
74-2835142
Phone
5054521553
Address
PO BOX 19035, ALBUOUEROUE, NM 87119
Doing Business As
Willow Terrace Apartments

Signing Officer

Name
Kara Summers
Title
President
Phone
5054521553
Signed
2020-12-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kara Summers
Formed
1997
Legal Domicile
Nm
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
LOVERIDGE HUNT & CO CPA'S
Address
14725 SE 36TH ST STE 401, BELLEVUE, WA 98006-1682
Preparer
Jie Klemm
Phone
4254532088
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“PY ROUNDING ADJ. -3”

Raw XML Appendix399 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALLEN DRUM KARA SUMMERS TREASURER PRESIDENT MICHELLE DRUM KARA SUMMMERS SECRETARY PRESIDENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT IS PROVIDED BY MANAGING AGENT UNDER A CONTRACT APPROVED BY U.S. DEPARTMENT OF HUD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST ARE DISCUSSED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF THE TAX RETURN IS PROVIDED FREE OF CHARGE UPON REQUEST.
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt110
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt210
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0133796
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IRS990/TotalProgramServiceRevenueAmt089736
IRS990/TotalRevenueGrp/ExclusionAmt08
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt089736
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt089744
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IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KARA SUMMERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05054521553
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-12-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WILLOW TERRACE INC
ReturnHeader/Filer/BusinessNameControlTxt0WILL
ReturnHeader/Filer/EIN0742835142
ReturnHeader/Filer/PhoneNum05054521553
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 19035
ReturnHeader/Filer/USAddress/CityNm0ALBUOUEROUE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NM
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId016A9019D4677E463B259831FE53A2045F531949A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId016A9019D4677E463B259831FE53A2045F531949A
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.37.240.203
ReturnHeader/FilingSecurityInformation/IPDt02020-12-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm016:04:21
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0911347576
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LOVERIDGE HUNT & CO CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt014725 SE 36TH ST STE 401
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BELLEVUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0980061682
ReturnHeader/PreparerPersonGrp/PhoneNum04254532088
ReturnHeader/PreparerPersonGrp/PreparationDt02020-12-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JIE KLEMM
ReturnHeader/ReturnTs02020-12-21T16:04:21-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$462,459
Liabilities
$994,146
Net assets
-$531,687
Revenue
$89,744
Expenses
$133,796
Net income
-$44,052
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$0.38$1.00$0.62$0.15$0.16$0.01
2023Summary only. Only limited summary data is available for this year.$0.39$1.00$0.61$0.13$0.18$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.42$0.98$0.56$0.11$0.15$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.96$0.52$0.12$0.11$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.46$0.99$0.53$0.09$0.13$0.04
2019Summary only. Only limited summary data is available for this year.$0.49$0.98$0.49$0.08$0.10$0.03