Civic Intelligence

Raphael Realty Inc

990 • Fiscal year 2023 • EIN 74-3093941

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 25, 2024

Organization ProfileN/A
401 E 34th StIndianapolis, IN 46205

(317) 926-1507

Siviq Scores

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

Liabilities / Assets

89th percentile

0.98x

Higher debt load relative to assets than 89% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

18.89x

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

2023 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2023

Net Margin

61st percentile

26%

Higher net margin than 61% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

76th percentile

$194,077

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 81.1% of source-year revenue.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Source year 2023

Asset Growth

73rd percentile

3.1%

Faster asset growth than 73% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

43rd percentile

0.0%

Faster revenue growth than 43% of similar nonprofits.

2023 filings • 501(c)2 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$4,592,673

Up $136,193 (+3.1%) from 2022

Net Assets

Up

$70,050

Up $63,093 (+907%) from 2022

Liabilities

Up

$4,522,623

Up $73,100 (+1.6%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin61st percentile

Revenue

Flat

$239,400

Flat from 2022

Expenses

Down

$176,307

Down $1,193 (-0.7%) from 2022

Net Income

Up

$63,093

Up $1,193 (+1.9%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $2,529,683Liabilities 2010: $2,796,066Net Assets 2010: -$266,3832010Assets 2011: $2,457,255Liabilities 2011: $2,715,066Net Assets 2011: -$257,8112011Assets 2012: $2,384,796Liabilities 2012: $2,634,316Net Assets 2012: -$249,5202012Assets 2013: $2,321,452Liabilities 2013: $2,562,886Net Assets 2013: -$241,4342013Assets 2014: $2,248,068Liabilities 2014: $2,481,886Net Assets 2014: -$233,8182014Assets 2015: $2,175,002Liabilities 2015: $2,401,350Net Assets 2015: -$226,3482015Assets 2016: $2,360,690Liabilities 2016: $2,577,114Net Assets 2016: -$216,4242016Assets 2017: $2,219,151Liabilities 2017: $2,451,636Net Assets 2017: -$232,4852017Assets 2018: $2,126,650Liabilities 2018: $2,358,216Net Assets 2018: -$231,5662018Assets 2019: $4,527,233Liabilities 2019: $4,727,571Net Assets 2019: -$200,3382019Assets 2020: $4,431,012Liabilities 2020: $4,544,842Net Assets 2020: -$113,8302020Assets 2021: $4,559,786Liabilities 2021: $4,614,729Net Assets 2021: -$54,9432021Assets 2022: $4,456,480Liabilities 2022: $4,449,523Net Assets 2022: $6,9572022Assets 2023: $4,592,673Liabilities 2023: $4,522,623Net Assets 2023: $70,0502023Assets 2024: $5,046,214Liabilities 2024: $4,891,796Net Assets 2024: $154,4182024

Highlighted filing

2023

Assets$4,592,673
Liabilities$4,522,623
Net Assets$70,050
Open 2023 Filing

Operations Trend

Revenue Growth43rd percentile

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

$300K$200K$100K$0-$100KExpenses 2010: $86,3512010Expenses 2011: $72,4312011Expenses 2012: $72,7112012Revenue 2013: $81,002Expenses 2013: $72,916Net Income 2013: $8,0862013Revenue 2014: $81,003Expenses 2014: $73,387Net Income 2014: $7,6162014Revenue 2015: $81,002Expenses 2015: $73,532Net Income 2015: $7,4702015Revenue 2016: $86,502Expenses 2016: $76,578Net Income 2016: $9,9242016Revenue 2017: $94,202Expenses 2017: $110,263Net Income 2017: -$16,0612017Revenue 2018: $94,200Expenses 2018: $93,281Net Income 2018: $9192018Revenue 2019: $130,504Expenses 2019: $99,276Net Income 2019: $31,2282019Revenue 2020: $239,400Expenses 2020: $152,892Net Income 2020: $86,5082020Revenue 2021: $239,400Expenses 2021: $180,513Net Income 2021: $58,8872021Revenue 2022: $239,400Expenses 2022: $177,500Net Income 2022: $61,9002022Revenue 2023: $239,400Expenses 2023: $176,307Net Income 2023: $63,0932023Revenue 2024: $239,400Expenses 2024: $155,032Net Income 2024: $84,3682024

Highlighted filing

2023

Revenue$239,400
Expenses$176,307
Net Income$63,093
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 25, 2024
Return Version
2023v5.1
Gross Receipts
$239,400
Mission and Program Overview

Mission

To hold title to property for Raphael Health Center.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,456,480$4,592,673▲ $136,193
Total Assets$4,456,480$4,592,673▲ $136,193
Liabilities
Other Liabilities$3,248,177$3,531,761▲ $283,584
Mortgage Notes Payable Secured by Investment Property$1,201,346$990,862▼ $210,484
Total Liabilities$4,449,523$4,522,623▲ $73,100
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,957$70,050▲ $63,093
Total Net Assets Fund Balance$6,957$70,050▲ $63,093
Total Liabilities and Net Assets / Fund Balance$4,456,480$4,592,673▲ $136,193

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,238,050$1,807,630$6,045,680
Land$354,623-$354,623
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleOtherTotal
Paul UtterbackCFO$140,022$140,022

Board Members and Trustees

NameTitle
Sherry GrayPresident
Sarah NoelVice Chair
Sanford GarnerVice President
Bernice CorleyCommittee Member
Rhonda GarrisonCommittee Member
Pat CasanovaSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$239,400
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$63,093
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$176,307
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---$132,111
Interest---$43,181
Other Expenses---$1,015
Total Functional Expenses$0$0$0$176,307
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Transfer From Raphael Health Center$3,531,761
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Raphael realty, inc.'s form 990 and all related schedules, statements and attachments are reviewed and approved by the finance committee and then presented to the board of directors prior to finalizing and filing these tax returns with the internal revenue service.”

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

“Raphael realty passes out a questionnaire about conflict of interest to be filled out and returned by each director and officer. The policy includes statements about other employment and being related to anyone on the board of directors and other items that may be an issue. Potential issues are identified, evaluated and discussed with the appropriate level of management or members of the board of directors.”

Form 990, Part VI, Section C, Line 19

“Raphael realty, inc. Makes its governing documents, conflict of interest policy and financial statements, as applicable, available to the public upon written request made to the attention of our president and received at our corporate office address.”

Filing and Contact Details

Filer

Filer Name
Raphael Realty Inc
EIN
74-3093941
Phone
3179261507
Address
401 E 34TH ST, INDIANAPOLIS, IN 46205

Signing Officer

Name
Sherry Gray
Title
CEO
Phone
3179261507
Signed
2024-09-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherry Gray
Formed
2003
Legal Domicile
In
Voting Board Members
6
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Blue & Co LLC
Address
500 N MERIDIAN ST SUITE 200, INDIANAPOLIS, IN 46204
Preparer
Tyler K Greene CPA
Phone
3176334705
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“No changes in process from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the center and recognize a tax liability if the center has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the center and has concluded that as of december 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying consolidated financial statements. The center is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Raw XML Appendix355 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CENTER AND RECOGNIZE A TAX LIABILITY IF THE CENTER HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY VARIOUS FEDERAL AND STATE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CENTER AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE CENTER IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0A RELATED ORGANIZATION, RAPHAEL HEALTH CENTER, DETERMINED THE COMPENSATION OF THE ORGANZATION'S PRESIDENT USING THE FOLLOWING METHOD: -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RAPHAEL REALTY, INC.'S FORM 990 AND ALL RELATED SCHEDULES, STATEMENTS AND ATTACHMENTS ARE REVIEWED AND APPROVED BY THE FINANCE COMMITTEE AND THEN PRESENTED TO THE BOARD OF DIRECTORS PRIOR TO FINALIZING AND FILING THESE TAX RETURNS WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1RAPHAEL REALTY PASSES OUT A QUESTIONNAIRE ABOUT CONFLICT OF INTEREST TO BE FILLED OUT AND RETURNED BY EACH DIRECTOR AND OFFICER. THE POLICY INCLUDES STATEMENTS ABOUT OTHER EMPLOYMENT AND BEING RELATED TO ANYONE ON THE BOARD OF DIRECTORS AND OTHER ITEMS THAT MAY BE AN ISSUE. POTENTIAL ISSUES ARE IDENTIFIED, EVALUATED AND DISCUSSED WITH THE APPROPRIATE LEVEL OF MANAGEMENT OR MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RAPHAEL REALTY, INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS, AS APPLICABLE, AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST MADE TO THE ATTENTION OF OUR PRESIDENT AND RECEIVED AT OUR CORPORATE OFFICE ADDRESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO CHANGES IN PROCESS FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0351948768
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt04592673
IRS990/TotalAssetsGrp/BOYAmt04456480
IRS990/TotalAssetsGrp/EOYAmt04592673
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
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IRS990/TotalGrossUBIAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd046205
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SHERRY GRAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03179261507
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RAPHAEL REALTY INC
ReturnHeader/Filer/BusinessNameControlTxt0RAPH
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ReturnHeader/Filer/PhoneNum03179261507
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ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0351178661
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BLUE & CO LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0500 N MERIDIAN ST SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046204
ReturnHeader/PreparerPersonGrp/PhoneNum03176334705
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TYLER K GREENE CPA
ReturnHeader/ReturnTs02024-09-25T15:18:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,592,673
Liabilities
$4,522,623
Net assets
$70,050
Revenue
$239,400
Expenses
$176,307
Net income
$63,093
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.05$4.89$0.15$0.24$0.16$0.08
2023Detailed filing. Detailed filing data is available for this year.$4.59$4.52$0.07$0.24$0.18$0.06
2022Detailed filing. Detailed filing data is available for this year.$4.46$4.45$0.01$0.24$0.18$0.06
2021Detailed filing. Detailed filing data is available for this year.$4.56$4.61$0.05$0.24$0.18$0.06
2020Detailed filing. Detailed filing data is available for this year.$4.43$4.54$0.11$0.24$0.15$0.09
2019Detailed filing. Detailed filing data is available for this year.$4.53$4.73$0.20$0.13$0.10$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.13$2.36$0.23$0.09$0.09$0.00
2017Detailed filing. Detailed filing data is available for this year.$2.22$2.45$0.23$0.09$0.11$0.02
2016Detailed filing. Detailed filing data is available for this year.$2.36$2.58$0.22$0.09$0.08$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.18$2.40$0.23$0.08$0.07$0.01
2014Detailed filing. Detailed filing data is available for this year.$2.25$2.48$0.23$0.08$0.07$0.01
2013Detailed filing. Detailed filing data is available for this year.$2.32$2.56$0.24$0.08$0.07$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.38$2.63$0.25$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.46$2.72$0.26$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.53$2.80$0.27$0.09