Civic Intelligence

Echad Inc

990 • Fiscal year 2015 • EIN 75-1734177

Oct 01, 2014 to Sep 30, 2015 • Filed on Jul 26, 2016

Organization ProfileN/A

View Organization Page

6101 Ohio Dr Ste 100Plano, TX 75024

(214) 321-2130

Siviq Scores

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

Liabilities / Assets

97th percentile

1.31x

Higher debt load relative to assets than 97% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

6th percentile

0.00x

Higher debt load relative to revenue than 6% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

37th percentile

0.3%

Higher net margin than 37% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

28th percentile

$116,261

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

97th percentile

214%

Faster revenue growth than 97% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$22,253

Down $5,803,303 (-100%) from 2014

Net Assets

Down

-$6,880

Down $3,982 (-137%) from 2014

Liabilities

Down

$29,133

Down $5,799,321 (-100%) from 2014

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin37th percentile

Revenue

Up

$6,687,741

Up $4,556,506 (+214%) from 2014

Expenses

Up

$6,667,733

Up $4,583,091 (+220%) from 2014

Net Income

Down

$20,008

Down $26,585 (-57%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $5,915,770Liabilities 2011: $6,122,909Net Assets 2011: -$207,1392011Assets 2012: $5,855,957Liabilities 2012: $6,029,185Net Assets 2012: -$173,2282012Assets 2013: $5,882,388Liabilities 2013: $5,931,879Net Assets 2013: -$49,4912013Assets 2014: $5,825,556Liabilities 2014: $5,828,454Net Assets 2014: -$2,8982014Assets 2015: $22,253Liabilities 2015: $29,133Net Assets 2015: -$6,8802015Assets 2016: $1Liabilities 2016: $6,8802016

Highlighted filing

2015

Assets$22,253
Liabilities$29,133
Net Assets-$6,880
Open 2015 Filing

Operations Trend

Revenue Growth97th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2011: $2,131,362Expenses 2011: $1,897,832Net Income 2011: $233,5302011Revenue 2012: $2,054,512Expenses 2012: $2,020,601Net Income 2012: $33,9112012Revenue 2013: $2,082,810Expenses 2013: $1,959,073Net Income 2013: $123,7372013Revenue 2014: $2,131,235Expenses 2014: $2,084,642Net Income 2014: $46,5932014Revenue 2015: $6,687,741Expenses 2015: $6,667,733Net Income 2015: $20,0082015Revenue 2016: $0Expenses 2016: $0Net Income 2016: $02016

Highlighted filing

2015

Revenue$6,687,741
Expenses$6,667,733
Net Income$20,008
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Jul 26, 2016
Return Version
2014v6.0
Gross Receipts
$12,343,862
Mission and Program Overview

Mission

LOW-COST ELDERLY HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,956,725$0▼ $2,956,725
Intangible Assets$190,848$0▼ $190,848
Accounts Receivable$137,702$0▼ $137,702
Prepaid Expenses and Deferred Charges$54,348$0▼ $54,348
Cash and Non-Interest-Bearing Accounts$33,588$22,253▼ $11,335
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Other Assets Total$2,452,345$0▼ $2,452,345
Total Assets$5,825,556$22,253▼ $5,803,303
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,561,185--
Deferred Revenue$130,567--
Other Liabilities$36,089--
Accounts Payable and Accrued Expenses$100,613$29,133▼ $71,480
Total Liabilities$5,828,454$29,133▼ $5,799,321
Net Assets / Fund Balance
Unrestricted Net Assets$-2,898$-6,880▼ $3,982
Total Net Assets Fund Balance$-2,898$-6,880▼ $3,982
Total Liabilities and Net Assets / Fund Balance$5,825,556$22,253▼ $5,803,303
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jody LykeExecutive DirectorFT$110,132$6,129$116,261

Board Members and Trustees

NameTitle
Michael B CohenPresident
Beverly RosselVice President
Alan PostelTrustee
Collin BurkTrustee
Diane YarisTrustee
Elise Cary LeibsTrustee
Larry ImmermanTrustee
Terry KopelTrustee
Jean Tolmas MdSecretary
David StanleyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
The Legacy Senior Communities INCManagement6101 OHIO DR SUITE 100, Plano, TX 75024$70,317
Revenue and Support

Revenue Composition

Contributions and Grants
$988,248
Program Service Revenue
$390,745
Investment Income
$5,308,748
Other Revenue
$0
All Other Contributions
$4,694
Change in Net Assets
$20,008
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,213,206
Salaries, Compensation, and Employee Benefits$454,527
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$503,824--$503,824
Other Salaries and Wages$177,818$118,544-$296,362
Depreciation Depletion$100,910$67,272-$168,182
Fees for Services Management-$70,317-$70,317
Current Officers, Directors, Trustees, and Key Employees$40,027$26,684-$66,711
Other Employee Benefits$32,276$21,518-$53,794
Payroll Taxes$20,027$13,351-$33,378
Fees for Services Accounting$19,402$12,935-$32,337
Office Expenses$8,369$5,579-$13,948
Insurance$6,111$4,074-$10,185
Other Expenses$6,408$18,672-$6,408
Pension Plan Contributions$2,569$1,713-$4,282
Total Functional Expenses$6,307,074$360,659$0$6,667,733
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Part VI, Line 3: Description of Delegated Duties to Management Company

“The legacy senior communities, inc provided bookkeeping and payroll services to echad, inc.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“The entity is comprised of a board of trustees who have the right to participate in organization's governance and vote on organizational matters.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“There is no formal review process.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Disclosure of governing documents, p0licies, and financial statements through may 14, 2015 are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Echad Inc
EIN
75-1734177
Phone
2143212130
Address
6101 OHIO DR STE 100, PLANO, TX 75024

Signing Officer

Name
Michael B Cohen
Title
President
Signed
2016-07-26
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
TX
Voting Board Members
10
Independent Board Members
10
Employees
12

Preparer

Firm
Perkins Dexter Sinopoli & Hamm PC
Address
501 W Pres George Bush Hwy Ste 130, Richardson, TX 75080
Preparer
Jeffrey R Hamm CPA
Phone
9726699730
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services

“The organization sold the real property, personal property, leases and deposits, hud multifamily low income housing subsidy contracts and use agreements, permits, warranties, records and miscellaneous and property reserves to a third party on may 15, 2015 ceasing all operations. The proceeds were subsequently transferred to another 501(c)(3) organization whose mission is to provide residential housing to the elderly consistent with the exempt purpose outlined in echad inc.'s governing documents.”

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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-23990
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt0503824
IRS990/OccupancyGrp/TotalAmt0503824
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt05579
IRS990/OfficeExpensesGrp/ProgramServicesAmt08369
IRS990/OfficeExpensesGrp/TotalAmt013948
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt02452345
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt021518
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt032276
IRS990/OtherEmployeeBenefitsGrp/TotalAmt053794
IRS990/OtherExpensesGrp/Desc0DONATIONS
IRS990/OtherExpensesGrp/Desc1REFINANCE/APPLICATION FEE
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc3WELLNESS CENTER EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt018672
IRS990/OtherExpensesGrp/ProgramServicesAmt05368402
IRS990/OtherExpensesGrp/ProgramServicesAmt120931
IRS990/OtherExpensesGrp/ProgramServicesAmt26408
IRS990/OtherExpensesGrp/TotalAmt05368402
IRS990/OtherExpensesGrp/TotalAmt120931
IRS990/OtherExpensesGrp/TotalAmt218672
IRS990/OtherExpensesGrp/TotalAmt36408
IRS990/OtherLiabilitiesGrp/BOYAmt036089
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0118544
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0177818
IRS990/OtherSalariesAndWagesGrp/TotalAmt0296362
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0true
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt013351
IRS990/PayrollTaxesGrp/ProgramServicesAmt020027
IRS990/PayrollTaxesGrp/TotalAmt033378
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01713
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02569
IRS990/PensionPlanContributionsGrp/TotalAmt04282
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt054348
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0APARTMENT RENT
IRS990/ProgramServiceRevenueGrp/Desc1INTEREST
IRS990/ProgramServiceRevenueGrp/Desc2LAUNDRY
IRS990/ProgramServiceRevenueGrp/Desc3MISCELLANEOUS
IRS990/ProgramServiceRevenueGrp/ExclusionAmt02770
IRS990/ProgramServiceRevenueGrp/ExclusionAmt16735
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0331100
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt150140
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0331100
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt150140
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt22770
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt36735
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01568052
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01395717
IRS990/PYProgramServiceRevenueAmt0563183
IRS990/PYRevenuesLessExpensesAmt046593
IRS990/PYSalariesCompEmpBnftPaidAmt0688925
IRS990/PYTotalExpensesAmt02084642
IRS990/PYTotalRevenueAmt02131235
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt020008
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0390745
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0988248
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01568052
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01524057
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01494992
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01584141
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt07159490
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0390745
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0563183
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0558753
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0559520
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0547221
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02619422
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt09778912
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01378993
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02131235
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02082810
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt02054512
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt02131362
IRS990ScheduleA/Total509Grp/TotalAmt09778912
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01378993
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02131235
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02082810
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02054512
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02131362
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt09778912
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleN/DirectorOfSuccessor2Ind0false
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1PROFESSIONAL FEES
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0LEGACY SENIOR COMMUNITIES
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1BELL NUNNALLY
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02015-08-13
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12015-07-15

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,253
Liabilities
$29,133
Net assets
-$6,880
Revenue
$6,687,741
Expenses
$6,667,733
Net income
$20,008
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Summary only. Only limited summary data is available for this year.$0.00$0.01$0.00$0.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.02$0.03$0.01$6.69$6.67$0.02
2014Summary only. Only limited summary data is available for this year.$5.83$5.83$0.00$2.13$2.08$0.05
2013Summary only. Only limited summary data is available for this year.$5.88$5.93$0.05$2.08$1.96$0.12
2012Summary only. Only limited summary data is available for this year.$5.86$6.03$0.17$2.05$2.02$0.03
2011Summary only. Only limited summary data is available for this year.$5.92$6.12$0.21$2.13$1.90$0.23