Civic Intelligence

Midtown Manor Inc.

990 • Fiscal year 2018 • EIN 75-1549067

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 17, 2018

Organization ProfileN/A
112 So 32nd StreetWaco, TX 76710

(254) 753-0105

Siviq Scores

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

Liabilities / Assets

98th percentile

2.03x

Higher debt load relative to assets than 98% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

4.44x

Higher debt load relative to revenue than 95% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

36th percentile

-1.1%

Higher net margin than 36% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

16th percentile

-8.6%

Faster asset growth than 16% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

31st percentile

-3.6%

Faster revenue growth than 31% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$2,374,919

Down $224,518 (-8.6%) from 2017

Net Assets

Down

-$2,443,572

Down $12,406 (-0.5%) from 2017

Liabilities

Down

$4,818,491

Down $212,112 (-4.2%) from 2017

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin36th percentile

Revenue

Down

$1,085,420

Down $40,829 (-3.6%) from 2017

Expenses

Up

$1,097,665

Up $944 (+0.1%) from 2017

Net Income

Down

-$12,245

Down $41,773 (-141%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$10M$5.0M$0-$5.0MAssets 2011: $1,967,232Liabilities 2011: $5,496,519Net Assets 2011: -$3,529,2872011Assets 2012: $1,867,764Liabilities 2012: $5,420,303Net Assets 2012: -$3,552,5392012Assets 2013: $1,632,255Liabilities 2013: $5,339,420Net Assets 2013: -$3,707,1652013Assets 2014: $1,471,619Liabilities 2014: $5,262,918Net Assets 2014: -$3,791,2992014Assets 2015: $2,782,641Liabilities 2015: $5,215,589Net Assets 2015: -$2,432,9482015Assets 2017: $2,599,437Liabilities 2017: $5,030,603Net Assets 2017: -$2,431,1662017Assets 2018: $2,374,919Liabilities 2018: $4,818,491Net Assets 2018: -$2,443,5722018Assets 2019: $2,159,480Liabilities 2019: $4,666,797Net Assets 2019: -$2,507,3172019Assets 2020: $1,907,942Liabilities 2020: $4,520,671Net Assets 2020: -$2,612,7292020Assets 2021: $1,734,539Liabilities 2021: $4,336,092Net Assets 2021: -$2,601,5532021Assets 2022: $1,573,185Liabilities 2022: $4,172,840Net Assets 2022: -$2,599,6552022Assets 2023: $1,593,551Liabilities 2023: $4,010,329Net Assets 2023: -$2,416,7782023Assets 2024: $1,570,725Liabilities 2024: $3,847,214Net Assets 2024: -$2,276,4892024Assets 2025: $1,663,293Liabilities 2025: $3,670,776Net Assets 2025: -$2,007,4832025

Highlighted filing

2018

Assets$2,374,919
Liabilities$4,818,491
Net Assets-$2,443,572
Open 2018 Filing

Operations Trend

Revenue Growth31st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,020,662Expenses 2011: $1,101,069Net Income 2011: -$80,4072011Expenses 2012: $1,088,7982012Expenses 2013: $1,151,0962013Revenue 2014: $1,016,725Expenses 2014: $1,125,153Net Income 2014: -$108,4282014Revenue 2015: $1,036,922Expenses 2015: $1,159,200Net Income 2015: -$122,2782015Revenue 2017: $1,126,249Expenses 2017: $1,096,721Net Income 2017: $29,5282017Revenue 2018: $1,085,420Expenses 2018: $1,097,665Net Income 2018: -$12,2452018Revenue 2019: $1,113,147Expenses 2019: $1,176,783Net Income 2019: -$63,6362019Revenue 2020: $1,099,415Expenses 2020: $1,204,792Net Income 2020: -$105,3772020Revenue 2021: $1,139,653Expenses 2021: $1,159,288Net Income 2021: -$19,6352021Revenue 2022: $1,228,751Expenses 2022: $1,226,827Net Income 2022: $1,9242022Revenue 2023: $1,281,502Expenses 2023: $1,098,625Net Income 2023: $182,8772023Revenue 2024: $1,314,452Expenses 2024: $1,174,163Net Income 2024: $140,2892024Revenue 2025: $1,375,252Expenses 2025: $1,106,246Net Income 2025: $269,0062025

Highlighted filing

2018

Revenue$1,085,420
Expenses$1,097,665
Net Income-$12,245
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 17, 2018
Return Version
2017v2.3
Gross Receipts
$1,085,420
Mission and Program Overview

Mission

To provide low income housing for individuals in wichita falls, tx.

To provide low income housing for individuals in the wichita falls area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,494,743$1,367,183▼ $127,560
Savings and Temporary Cash Investments$823,855$804,167▼ $19,688
Prepaid Expenses and Deferred Charges$62,720$72,594▲ $9,874
Cash and Non-Interest-Bearing Accounts$109,514$26,242▼ $83,272
Investments in Publicly Traded Securities$19,556$14,705▼ $4,851
Accounts Receivable$3,314$8,062▲ $4,748
Total Assets$2,599,437$2,374,919▼ $224,518
Other Assets Total$85,735$81,966▼ $3,769
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,869,671$4,730,102▼ $139,569
Other Liabilities$48,577$47,463▼ $1,114
Accounts Payable and Accrued Expenses$111,314$38,915▼ $72,399
Deferred Revenue$1,041$2,011▲ $970
Total Liabilities$5,030,603$4,818,491▼ $212,112
Net Assets / Fund Balance
Unrestricted Net Assets$-2,431,166$-2,443,572▼ $12,406
Total Net Assets Fund Balance$-2,431,166$-2,443,572▼ $12,406
Total Liabilities and Net Assets / Fund Balance$2,599,437$2,374,919▼ $224,518

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,156,926$6,407,689$7,564,615
Land$120,010-$120,010
Equipment$51,280$46,596$97,876
Other Land Buildings$38,967$34,441$73,408
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Rick S SimsPresident
James T HughesVice President
Dustin NimzDirector
Jill PattersonDirector
Jim GinningsDirector
Nancy TownleyDirector
Randy HolleyDirector
Robert HegglundDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$785,930
Program Service Revenue
$297,538
Investment Income
$1,486
Other Revenue
$466
All Other Contributions
$785,930
Change in Net Assets
$-12,245

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,085,420
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-161
Total Revenue per Audited Statements
$1,085,259
Total Revenue per Form 990
$1,085,420
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$925,864
Salaries, Compensation, and Employee Benefits$171,801
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$242,334--$242,334
Interest$195,955--$195,955
Other Salaries and Wages$66,011$57,304-$123,315
Insurance$87,583$275-$87,858
Fees for Services Management-$60,630-$60,630
Other Employee Benefits$21,239$18,092-$39,331
Office Expenses-$21,122-$21,122
Other Expenses$19,197--$19,197
Payroll Taxes$4,211$4,944-$9,155
Fees for Services Accounting-$9,000-$9,000
Fees for Services Other-$8,500-$8,500
Conferences and Meetings$5,272--$5,272
All Other Expenses$45$4,441-$4,486
Fees for Services Legal-$2,720-$2,720
Advertising-$1,955-$1,955
Total Functional Expenses$908,682$188,983$0$1,097,665

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,097,665
Total Expenses per Audited Statements$1,097,665
Total Expenses per Form 990$1,097,665
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Deposits$33,154
Accrued Interest Payable$14,309
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
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, Part VI, Section A, Line 2

“The current building manager is the son of the president of the board of directors.”

Form 990, Part VI, Section A, Line 3

“Management delegated to management company the sovereign management corporation 112 s. 32nd street waco, tx 76710”

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

“The board of directors and management company reviews the form 990 prior to filing.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, financial statements and forms 990 are available upon written request to the management company.”

Filing and Contact Details

Filer

Filer Name
Midtown Manor Inc
EIN
75-1549067
Phone
2547530105
Address
112 SO 32ND STREET, WACO, TX 76710

Signing Officer

Name
Rick Sims
Title
President
Phone
9407671533
Signed
2018-10-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Sims
Formed
1976
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
4
Volunteers
8

Preparer

Firm
Mwh Group Pc
Address
PO BOX 97000, WICHITA FALLS, TX 76307-7000
Preparer
John L Luig Jr CPA
Phone
9407231471
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“Neither the oversight process of the audited financial statements or the selection process of an independent accountant has changed during the year.”

Raw XML AppendixShowing 400 of 430 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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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt05577
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IRS990ScheduleA/TotalSupportAmt05384401
IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt06407689
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0120010
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-161
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt038967
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt034441
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt073408
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt033154
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt114309
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS
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IRS990/ScheduleJRequiredInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CURRENT BUILDING MANAGER IS THE SON OF THE PRESIDENT OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT DELEGATED TO MANAGEMENT COMPANY THE SOVEREIGN MANAGEMENT CORPORATION 112 S. 32ND STREET WACO, TX 76710
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS AND MANAGEMENT COMPANY REVIEWS THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND FORMS 990 ARE AVAILABLE UPON WRITTEN REQUEST TO THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NEITHER THE OVERSIGHT PROCESS OF THE AUDITED FINANCIAL STATEMENTS OR THE SELECTION PROCESS OF AN INDEPENDENT ACCOUNTANT HAS CHANGED DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
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IRS990/USAddress/AddressLine1Txt0400 BURNETT ST
IRS990/USAddress/CityNm0WICHITA FALLS
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IRS990/USAddress/ZIPCd076301
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ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK SIMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,374,919
Liabilities
$4,818,491
Net assets
-$2,443,572
Revenue
$1,085,420
Expenses
$1,097,665
Net income
-$12,245
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.66$3.67$2.01$1.38$1.11$0.27
2024Detailed filing. Detailed filing data is available for this year.$1.57$3.85$2.28$1.31$1.17$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.59$4.01$2.42$1.28$1.10$0.18
2022Detailed filing. Detailed filing data is available for this year.$1.57$4.17$2.60$1.23$1.23$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.73$4.34$2.60$1.14$1.16$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.91$4.52$2.61$1.10$1.20$0.11
2019Detailed filing. Detailed filing data is available for this year.$2.16$4.67$2.51$1.11$1.18$0.06
2018Detailed filing. Detailed filing data is available for this year.$2.37$4.82$2.44$1.09$1.10$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.60$5.03$2.43$1.13$1.10$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.78$5.22$2.43$1.04$1.16$0.12
2014Detailed filing. Detailed filing data is available for this year.$1.47$5.26$3.79$1.02$1.13$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.63$5.34$3.71$1.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.87$5.42$3.55$1.09
2011Summary only. Only limited summary data is available for this year.$1.97$5.50$3.53$1.02$1.10$0.08