Civic Intelligence

Duncanville Independent Livinginc

EIN 75-2362401 • 501(c)3 • Waco, TX

Profile

To provide low income housing

112 S 32nd StreetWaco, TX 76710
Siviq Scores

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

Liabilities / Assets

95th percentile

1.33x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

2.31x

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

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

70th percentile

15%

Higher net margin than 70% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

44th percentile

-5.9%

Faster asset growth than 44% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

57th percentile

3.0%

Faster revenue growth than 57% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$475,282

Down $30,041 (-5.9%) from 2023

Liabilities

Down

$633,743

Down $72,291 (-10%) from 2023

Net Assets

Up

-$158,461

Up $42,250 (+21%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin70th percentile

Revenue

Up

$274,749

Up $8,044 (+3.0%) from 2023

Expenses

Down

$232,499

Down $2,440 (-1.0%) from 2023

Net Income

Up

$42,250

Up $10,484 (+33%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth44th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $771,412Liabilities 2011: $1,054,183Net Assets 2011: -$282,7712011Assets 2012: $759,187Liabilities 2012: $1,044,758Net Assets 2012: -$285,5712012Assets 2013: $733,996Liabilities 2013: $1,020,090Net Assets 2013: -$286,0942013Assets 2014: $725,410Liabilities 2014: $997,740Net Assets 2014: -$272,3302014Assets 2015: $700,470Liabilities 2015: $976,709Net Assets 2015: -$276,2392015Assets 2016: $688,761Liabilities 2016: $966,430Net Assets 2016: -$277,6692016Assets 2017: $652,493Liabilities 2017: $923,677Net Assets 2017: -$271,1842017Assets 2018: $629,496Liabilities 2018: $890,689Net Assets 2018: -$261,1932018Assets 2019: $609,480Liabilities 2019: $856,740Net Assets 2019: -$247,2602019Assets 2020: $584,895Liabilities 2020: $823,124Net Assets 2020: -$238,2292020Assets 2021: $544,477Liabilities 2021: $789,862Net Assets 2021: -$245,3852021Assets 2022: $523,752Liabilities 2022: $756,229Net Assets 2022: -$232,4772022Assets 2023: $505,323Liabilities 2023: $706,034Net Assets 2023: -$200,7112023Assets 2024: $475,282Liabilities 2024: $633,743Net Assets 2024: -$158,4612024

Highlighted filing

2024

Assets$475,282
Liabilities$633,743
Net Assets-$158,461
Open 2024 Filing

Operations Trend

Revenue Growth57th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $214,841Expenses 2011: $219,151Net Income 2011: -$4,3102011Expenses 2012: $221,1972012Revenue 2013: $227,075Expenses 2013: $226,266Net Income 2013: $8092013Revenue 2014: $231,675Expenses 2014: $217,911Net Income 2014: $13,7642014Revenue 2015: $234,435Expenses 2015: $238,344Net Income 2015: -$3,9092015Revenue 2016: $234,754Expenses 2016: $236,184Net Income 2016: -$1,4302016Revenue 2017: $241,540Expenses 2017: $235,055Net Income 2017: $6,4852017Revenue 2018: $247,002Expenses 2018: $237,011Net Income 2018: $9,9912018Revenue 2019: $250,337Expenses 2019: $236,404Net Income 2019: $13,9332019Revenue 2020: $253,197Expenses 2020: $244,166Net Income 2020: $9,0312020Revenue 2021: $254,617Expenses 2021: $261,773Net Income 2021: -$7,1562021Revenue 2022: $261,158Expenses 2022: $248,250Net Income 2022: $12,9082022Revenue 2023: $266,705Expenses 2023: $234,939Net Income 2023: $31,7662023Revenue 2024: $274,749Expenses 2024: $232,499Net Income 2024: $42,2502024

Highlighted filing

2024

Revenue$274,749
Expenses$232,499
Net Income$42,250
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$475,282
Liabilities
$633,743
Net assets
-$158,461
Revenue
$274,749
Expenses
$232,499
Net income
$42,250
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.63$0.16$0.27$0.23$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.51$0.71$0.20$0.27$0.23$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.52$0.76$0.23$0.26$0.25$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.54$0.79$0.25$0.25$0.26$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.58$0.82$0.24$0.25$0.24$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.61$0.86$0.25$0.25$0.24$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.63$0.89$0.26$0.25$0.24$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.65$0.92$0.27$0.24$0.24$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.69$0.97$0.28$0.23$0.24$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.70$0.98$0.28$0.23$0.24$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.73$1.00$0.27$0.23$0.22$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.73$1.02$0.29$0.23$0.23$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.76$1.04$0.29$0.22
2011Summary only. Only limited summary data is available for this year.$0.77$1.05$0.28$0.21$0.22$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 12, 2025
Return Version
2024v5.0
Gross Receipts
$274,749
Mission and Program Overview

Mission

To provide low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$431,369$393,175▼ $38,194
Savings and Temporary Cash Investments$41,867$43,216▲ $1,349
Prepaid Expenses and Deferred Charges$28,267$33,862▲ $5,595
Cash and Non-Interest-Bearing Accounts$294$1,177▲ $883
Accounts Receivable$26$352▲ $326
Total Assets$505,323$475,282▼ $30,041
Other Assets Total$3,500$3,500→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$651,602$598,119▼ $53,483
Other Liabilities$35,750$33,440▼ $2,310
Accounts Payable and Accrued Expenses$18,501$1,885▼ $16,616
Deferred Revenue$181$299▲ $118
Total Liabilities$706,034$633,743▼ $72,291
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-200,711$-158,461▲ $42,250
Total Net Assets Fund Balance$-200,711$-158,461▲ $42,250
Total Liabilities and Net Assets / Fund Balance$505,323$475,282▼ $30,041

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$187,755$860,433$1,048,188
Land$168,733-$168,733
Equipment$36,687$98,434$135,121
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Don MeburnettPresident
Leo VarianDirector
Mary MartinDirector
Stan MyersSecretary
Terry WebbVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$274,192
Investment Income
$83
Other Revenue
$474
Change in Net Assets
$42,250

Audited Revenue Reconciliation

Revenue per Audited Statements
$274,749
Total Revenue per Audited Statements
$274,749
Total Revenue per Form 990
$274,749
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$232,499
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
Interest$56,073--$56,073
Depreciation Depletion$38,793--$38,793
Insurance$32,649--$32,649
Occupancy$22,386--$22,386
Fees for Services Management-$13,705-$13,705
Fees for Services Accounting-$9,402-$9,402
Office Expenses$6,479--$6,479
Conferences and Meetings-$4,323-$4,323
Other Expenses$3,418--$3,418
All Other Expenses$2,256--$2,256
Total Functional Expenses$205,069$27,430$0$232,499

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$232,499
Total Expenses per Audited Statements$232,499
Total Expenses per Form 990$232,499
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
Insurance Policy Note Payable$21,248
Tenant Security Deposits$7,706
Interest Payable$4,486
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

“Sovereign management corp. 112 s 32nd waco, tx 76710”

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

“Form 990 is reviewed by the board of directors at a scheduled meeting prior to filing with the internal revenue service.”

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

“Governing documents are made availble to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Duncanville Independent Livinginc
EIN
75-2362401
Phone
9722987020
Address
112 S 32ND STREET, WACO, TX 76710

Signing Officer

Name
Don Meburnett
Title
President
Phone
9722987020
Signed
2025-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don Meburnett
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

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

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To provide low income housing.”

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 december 31, 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 december 31, 2024, there were no interest or penalties related to income taxes recorded or included in the financial statements. The federal returns of the project for 2023, 2022 and 2021 are subject to examination by the internal revenue service, generally for three years after they are filed. There are no examinations currently in progress.”

Raw XML Appendix363 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/OtherLiabilitiesOrgGrp/Desc0INSURANCE POLICY NOTE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2INTEREST PAYABLE
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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 DECEMBER 31, 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 DECEMBER 31, 2024, THERE WERE NO INTEREST OR PENALTIES RELATED TO INCOME TAXES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. THE FEDERAL RETURNS OF THE PROJECT FOR 2023, 2022 AND 2021 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. THERE ARE NO EXAMINATIONS CURRENTLY IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE LOW INCOME HOUSING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SOVEREIGN MANAGEMENT CORP. 112 S 32ND WACO, TX 76710
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS AT A SCHEDULED MEETING PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NOT COMPENSATED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NOT COMPENSATED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE MADE AVAILBLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0DON MEBURNETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09722987020
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DUNCANVILLE INDEPENDENT LIVINGINC
ReturnHeader/Filer/BusinessNameControlTxt0DUNC
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ReturnHeader/Filer/USAddress/AddressLine1Txt0112 S 32ND STREET
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0815081933
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PAUL J CHRISTENSEN & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02110 AUSTIN AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WACO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076701
ReturnHeader/PreparerPersonGrp/PhoneNum02547523436
ReturnHeader/PreparerPersonGrp/PreparationDt02025-09-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL J CHRISTENSEN CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-10-23T11:02:11-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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