Civic Intelligence

Brownwood Manor Inc

EIN 75-1718442 • 501(c)3 • Waco, TX

Profile

LOW INCOME HOUSING

112 South 32nd StreetWaco, TX 76710
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

73rd percentile

0.17x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

76th percentile

0.18x

Higher debt load relative to revenue than 76% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

81st percentile

31%

Higher net margin than 81% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

32nd percentile

-3.0%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

42nd percentile

2.8%

Faster revenue growth than 42% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$753,050

Up $118,438 (+19%) from 2023

Liabilities

Down

$56,342

Down $51,147 (-48%) from 2023

Net Assets

Up

$696,708

Up $169,585 (+32%) from 2023

Operations
Liabilities / Revenue76th percentileNet Margin81st percentile

Revenue

Up

$590,623

Up $2,818 (+0.5%) from 2023

Expenses

Up

$421,038

Up $15,202 (+3.7%) from 2023

Net Income

Down

$169,585

Down $12,384 (-6.8%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth32nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.0M$0-$1.0MAssets 2011: $1,029,319Liabilities 2011: $1,769,931Net Assets 2011: -$740,6122011Assets 2012: $1,031,446Liabilities 2012: $1,722,006Net Assets 2012: -$690,5602012Assets 2013: $1,031,446Liabilities 2013: $1,722,006Net Assets 2013: -$690,5602013Assets 2014: $989,327Liabilities 2014: $1,342,756Net Assets 2014: -$353,4292014Assets 2015: $972,782Liabilities 2015: $1,247,180Net Assets 2015: -$274,3982015Assets 2016: $931,883Liabilities 2016: $1,148,821Net Assets 2016: -$216,9382016Assets 2017: $870,838Liabilities 2017: $1,065,592Net Assets 2017: -$194,7542017Assets 2018: $807,656Liabilities 2018: $910,099Net Assets 2018: -$102,4432018Assets 2019: $781,981Liabilities 2019: $783,935Net Assets 2019: -$1,9542019Assets 2020: $714,957Liabilities 2020: $634,507Net Assets 2020: $80,4502020Assets 2021: $677,619Liabilities 2021: $475,897Net Assets 2021: $201,7222021Assets 2022: $654,158Liabilities 2022: $317,154Net Assets 2022: $337,0042022Assets 2023: $634,612Liabilities 2023: $107,489Net Assets 2023: $527,1232023Assets 2024: $753,050Liabilities 2024: $56,342Net Assets 2024: $696,7082024

Highlighted filing

2024

Assets$753,050
Liabilities$56,342
Net Assets$696,708
Open 2024 Filing

Operations Trend

Revenue Growth42nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0Revenue 2011: $546,711Expenses 2011: $481,768Net Income 2011: $64,9432011Revenue 2012: $535,626Expenses 2012: $482,988Net Income 2012: $52,6382012Expenses 2013: $482,9882013Revenue 2014: $504,364Expenses 2014: $459,119Net Income 2014: $45,2452014Revenue 2015: $521,274Expenses 2015: $442,243Net Income 2015: $79,0312015Revenue 2016: $520,823Expenses 2016: $463,363Net Income 2016: $57,4602016Revenue 2017: $518,861Expenses 2017: $496,677Net Income 2017: $22,1842017Revenue 2018: $509,751Expenses 2018: $417,449Net Income 2018: $92,3022018Revenue 2019: $545,420Expenses 2019: $444,931Net Income 2019: $100,4892019Revenue 2020: $510,531Expenses 2020: $428,127Net Income 2020: $82,4042020Revenue 2021: $553,926Expenses 2021: $432,654Net Income 2021: $121,2722021Revenue 2022: $571,811Expenses 2022: $436,529Net Income 2022: $135,2822022Revenue 2023: $587,805Expenses 2023: $405,836Net Income 2023: $181,9692023Revenue 2024: $590,623Expenses 2024: $421,038Net Income 2024: $169,5852024

Highlighted filing

2024

Revenue$590,623
Expenses$421,038
Net Income$169,585
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$753,050
Liabilities
$56,342
Net assets
$696,708
Revenue
$590,623
Expenses
$421,038
Net income
$169,585
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.75$0.06$0.70$0.59$0.42$0.17
2023Detailed filing. Detailed filing data is available for this year.$0.63$0.11$0.53$0.59$0.41$0.18
2022Detailed filing. Detailed filing data is available for this year.$0.65$0.32$0.34$0.57$0.44$0.14
2021Detailed filing. Detailed filing data is available for this year.$0.68$0.48$0.20$0.55$0.43$0.12
2020Detailed filing. Detailed filing data is available for this year.$0.71$0.63$0.08$0.51$0.43$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.78$0.78$0.00$0.55$0.44$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.81$0.91$0.10$0.51$0.42$0.09
2017Detailed filing. Detailed filing data is available for this year.$0.87$1.07$0.19$0.52$0.50$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.93$1.15$0.22$0.52$0.46$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.97$1.25$0.27$0.52$0.44$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.99$1.34$0.35$0.50$0.46$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$1.72$0.69$0.48
2012Summary only. Only limited summary data is available for this year.$1.03$1.72$0.69$0.54$0.48$0.05
2011Summary only. Only limited summary data is available for this year.$1.03$1.77$0.74$0.55$0.48$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$590,623
Mission and Program Overview

Mission

LOW INCOME HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$351,611$393,913▲ $42,302
Savings and Temporary Cash Investments$244,870$294,346▲ $49,476
Cash and Non-Interest-Bearing Accounts$20,138$41,593▲ $21,455
Prepaid Expenses and Deferred Charges$16,906$15,621▼ $1,285
Accounts Receivable$1,087$7,577▲ $6,490
Total Assets$634,612$753,050▲ $118,438
Liabilities
Mortgage Notes Payable Secured by Investment Property$84,727--
Accounts Payable and Accrued Expenses$8,722$41,416▲ $32,694
Other Liabilities$13,836$13,538▼ $298
Deferred Revenue$204$1,388▲ $1,184
Total Liabilities$107,489$56,342▼ $51,147
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$527,123$696,708▲ $169,585
Total Net Assets Fund Balance$527,123$696,708▲ $169,585
Total Liabilities and Net Assets / Fund Balance$634,612$753,050▲ $118,438

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$75,091$2,194,839$2,269,930
Equipment$252,050$184,622$436,672
Land$66,772-$66,772
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Debbie MorelockPresident
Dustin LarramoreBoard Member
Stephen HaynesBoard Member
Tom MunsonBoard Member
Michelle ThomasVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$560,827
Investment Income
$2,027
Other Revenue
$27,769
Change in Net Assets
$169,585

Audited Revenue Reconciliation

Revenue per Audited Statements
$590,623
Total Revenue per Audited Statements
$590,623
Total Revenue per Form 990
$590,623
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$338,736
Salaries, Compensation, and Employee Benefits$82,302
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$61,369--$61,369
Insurance$47,364--$47,364
Depreciation Depletion$34,714--$34,714
Fees for Services Accounting-$28,560-$28,560
Fees for Services Management-$24,996-$24,996
Other Employee Benefits$16,177--$16,177
Office Expenses$13,553--$13,553
Other Expenses$7,077--$7,077
Conferences and Meetings$4,991--$4,991
Payroll Taxes$4,756--$4,756
All Other Expenses$3,640--$3,640
Fees for Services Legal$1,406--$1,406
Interest$1,315--$1,315
Advertising$657--$657
Total Functional Expenses$367,482$53,556$0$421,038

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$421,038
Total Expenses per Audited Statements$421,038
Total Expenses per Form 990$421,038
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 Security Deposits$13,538
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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 sovereign management corporation 112 s. 32nd street waco, tx 76710”

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

“Form 990 is reviewed by members of management prior to the filing of the information return with the internal revenue service. The form 990 is made available to the board of directors for review at a regular scheduled meeting.”

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

“NOT COMPENSATED”

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

“NOT COMPENSATED”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Brownwood Manor Inc
EIN
75-1718442
Phone
2547530105
Address
112 SOUTH 32ND STREET, WACO, TX 76710

Signing Officer

Name
Debbie Morelock
Title
President
Phone
2547530105
Signed
2025-05-15

Organization Details

Principal Officer
Debbie Morelock
Formed
1981
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
4

Preparer

Firm
Paul J Christensen & Associates LLC
Address
2110 AUSTIN AVE, WACO, TX 76701
Preparer
Paul J Christensen CPA
Phone
2547523436
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The project is exempt from federal income tax under section 501(c)(3) of the internal revenue code, except to the extent it has unrelated business taxable income. The project has no material unrelated business income for the year ended june 30, 2024. Generally accepted accounting principles require that the project recognize in its financial statements the financial effects of a tax position, if that position is more likely than not of being sustained upon examination, including resolution of any appeals or litigation processes, based upon the technical merits of the tax position. The requirements also provide guidance on measurement, classification, interest and penalties and disclosure. Tax positions taken related to the project's tax-exempt status, unrelated business activities taxable income and deductibility of expenses and other miscellaneous tax positions have been reviewed, and management is of the opinion that material positions taken would more likely than not be sustained by examination. Accordingly, the project has not recorded an income tax liability for uncertain tax benefits. For the year ended june 30, 2024, there were no interest or penalties related to income taxes recorded or included in the financial statements. As of june 30, 2024, the project's tax years 2021 through 2023 remain subject to examination.”

Raw XML Appendix369 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/ExplanationTxt0THE PROJECT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT TO THE EXTENT IT HAS UNRELATED BUSINESS TAXABLE INCOME. THE PROJECT HAS NO MATERIAL UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2024. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE THAT THE PROJECT RECOGNIZE IN ITS FINANCIAL STATEMENTS THE FINANCIAL EFFECTS OF A TAX POSITION, IF THAT POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY APPEALS OR LITIGATION PROCESSES, BASED UPON THE TECHNICAL MERITS OF THE TAX POSITION. THE REQUIREMENTS ALSO PROVIDE GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. TAX POSITIONS TAKEN RELATED TO THE PROJECT'S TAX-EXEMPT STATUS, UNRELATED BUSINESS ACTIVITIES TAXABLE INCOME AND DEDUCTIBILITY OF EXPENSES AND OTHER MISCELLANEOUS TAX POSITIONS HAVE BEEN REVIEWED, AND MANAGEMENT IS OF THE OPINION THAT MATERIAL POSITIONS TAKEN WOULD MORE LIKELY THAN NOT BE SUSTAINED BY EXAMINATION. ACCORDINGLY, THE PROJECT HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX BENEFITS. FOR THE YEAR ENDED JUNE 30, 2024, THERE WERE NO INTEREST OR PENALTIES RELATED TO INCOME TAXES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2024, THE PROJECT'S TAX YEARS 2021 THROUGH 2023 REMAIN SUBJECT TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOVEREIGN MANAGEMENT CORPORATION 112 S. 32ND STREET WACO, TX 76710
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY MEMBERS OF MANAGEMENT PRIOR TO THE FILING OF THE INFORMATION RETURN WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW AT A REGULAR SCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NOT COMPENSATED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NOT COMPENSATED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DEBBIE MORELOCK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02547530105
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BROWNWOOD MANOR INC
ReturnHeader/Filer/BusinessNameControlTxt0BROW
ReturnHeader/Filer/EIN0751718442
ReturnHeader/Filer/PhoneNum02547530105
ReturnHeader/Filer/USAddress/AddressLine1Txt0112 SOUTH 32ND STREET
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PAUL J CHRISTENSEN & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02110 AUSTIN AVE
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-03-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL J CHRISTENSEN CPA
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ReturnHeader/ReturnTs02025-05-15T15:19:50-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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