Civic Intelligence

Willow Terrace Inc.

990 • Fiscal year 2021 • EIN 74-2835142

Jul 01, 2020 to Jun 30, 2021 • Filed on Feb 14, 2022

Organization Profile
PO Box 80009Albuquerque, NM 87198

(505) 452-1553

Siviq Scores

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

Liabilities / Assets

91st percentile

2.18x

Higher debt load relative to assets than 91% of similar nonprofits.

2021 filings • NTEE L • <$500k nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

7.84x

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

2021 filings • NTEE L • <$500k nonprofits • Source year 2021

Net Margin

62nd percentile

9.8%

Higher net margin than 62% of similar nonprofits.

2021 filings • NTEE L • <$500k nonprofits • Source year 2021

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2021 filings • NTEE L • <$500k nonprofits • Source year 2021

Asset Growth

33rd percentile

-4.5%

Faster asset growth than 33% of similar nonprofits.

2021 filings • NTEE L • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

81st percentile

37%

Faster revenue growth than 81% of similar nonprofits.

2021 filings • NTEE L • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$441,685

Down $20,774 (-4.5%) from 2020

Net Assets

Up

-$519,651

Up $12,036 (+2.3%) from 2020

Liabilities

Down

$961,336

Down $32,810 (-3.3%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin62nd percentile

Revenue

Up

$122,542

Up $32,798 (+37%) from 2020

Expenses

Down

$110,502

Down $23,294 (-17%) from 2020

Net Income

Up

$12,040

Up $56,092 (+127%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2021

Assets$441,685
Liabilities$961,336
Net Assets-$519,651
Open 2021 Filing

Operations Trend

Revenue Growth81st 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

2021

Revenue$122,542
Expenses$110,502
Net Income$12,040
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 14, 2022
Return Version
2020v4.1
Gross Receipts
$122,542
Mission and Program Overview

Mission

To provide affordable housing for low income disabled person

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$444,646$421,658▼ $22,988
Cash and Non-Interest-Bearing Accounts$2,368$6,146▲ $3,778
Prepaid Expenses and Deferred Charges$160$160→ $0
Accounts Receivable$1$143▲ $142
Total Assets$462,459$441,685▼ $20,774
Other Assets Total$15,284$13,578▼ $1,706
Liabilities
Unsecured Notes Loans Payable$953,200$953,200→ $0
Accounts Payable and Accrued Expenses$33,215$4,589▼ $28,626
Other Liabilities$7,581$3,397▼ $4,184
Deferred Revenue$150$150→ $0
Total Liabilities$994,146$961,336▼ $32,810
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-531,687$-519,651▲ $12,036
Total Net Assets Fund Balance$-531,687$-519,651▲ $12,036
Total Liabilities and Net Assets / Fund Balance$462,459$441,685▼ $20,774

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$386,658$528,586-
Land$35,000--
Equipment-$13,280-
Other Assets Org$3,643--
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Kara SummersPresident
Michelle DrumSecretary
Allen DrumTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,050
Program Service Revenue
$88,801
Investment Income
$10
Other Revenue
$31,681
All Other Contributions
$2,050
Change in Net Assets
$12,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$110,502
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
Other Expenses$20,112--$20,112
Insurance$12,369--$12,369
Fees for Services Management$8,353--$8,353
Fees for Services Accounting$7,089--$7,089
Office Expenses$6,847--$6,847
All Other Expenses$861--$861
Fees for Services Legal$539--$539
Conferences and Meetings$445--$445
Total Functional Expenses$110,502$0$0$110,502
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 Deposits$3,283
Prepaid Rental Income$114
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

Officer directors etc family relationship Part VI line 2

“Allen DRUM KARA SUMMERS TREASURER PRESIDENT MICHELLE DRUM KARA SUMMERS SECRETARY PRESIDENT”

Management duties delegation Part VI line 3

“Management is provided by managing agent under a contract approved by us department of hud”

Form 990 governing body review Part VI line 11

“No review was or will be conducted”

Conflict of interest policy compliance Part VI line 12C

“Conflict of interest are discussed at board meetings”

Governing documents etc available to public 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
Address
PO BOX 80009, Albuquerque, NM 87198
Doing Business As
Willow Terrace Apartments

Signing Officer

Name
Kara Summers
Title
President
Phone
5054521553
Signed
2022-02-14
Discuss with paid preparer
No

Organization Details

Formed
1997
Legal Domicile
Nm
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
3

Preparer

Firm
Bloom & Bloom Llp
Address
356 MILLBURN AVE, Millburn, NJ 07041
Preparer
Richard Bloom
Phone
9739120300
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“ROUNDING ADJ”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Allen DRUM KARA SUMMERS TREASURER PRESIDENT MICHELLE DRUM KARA SUMMERS SECRETARY PRESIDENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT IS PROVIDED BY MANAGING AGENT UNDER A CONTRACT APPROVED BY US DEPARTMENT OF HUD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST ARE DISCUSSED AT BOARD MEETINGS
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Explanation of other changes in net assets or fund balances Part XI line 9
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Document Assets

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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$441,685
Liabilities
$961,336
Net assets
-$519,651
Revenue
$122,542
Expenses
$110,502
Net income
$12,040
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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • <$500k nonprofits