Civic Intelligence

Silverwood Casitas Inc.

990 • Fiscal year 2018 • EIN 80-0691441

Jan 01, 2018 to Dec 31, 2018 • Filed on Mar 05, 2019

1700 E Ft Lowell 101Tucson, AZ 85719

(520) 318-0993

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$5,498,438

Flat from 2018

Net Assets

Flat

$5,433,596

Flat from 2018

Liabilities

Flat

$64,842

Flat from 2018

Revenue And Expenses

Revenue

Flat

$288,117

Flat from 2018

Expenses

Flat

$434,825

Flat from 2018

Net Income

Flat

-$146,708

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $4,252,378Liabilities 2013: $7,500Net Assets 2013: $4,244,8782013Assets 2014: $6,091,167Liabilities 2014: $285,685Net Assets 2014: $5,805,4822014Assets 2015: $5,887,828Liabilities 2015: $77,813Net Assets 2015: $5,810,0152015Assets 2016: $5,776,370Liabilities 2016: $78,335Net Assets 2016: $5,698,0352016Assets 2017: $5,634,731Liabilities 2017: $54,427Net Assets 2017: $5,580,3042017Assets 2018: $5,498,438Liabilities 2018: $64,842Net Assets 2018: $5,433,5962018Assets 2018: $5,498,438Liabilities 2018: $64,842Net Assets 2018: $5,433,5962018Assets 2019: $5,373,365Liabilities 2019: $18,817Net Assets 2019: $5,354,5482019Assets 2020: $5,244,255Liabilities 2020: $29,003Net Assets 2020: $5,215,2522020Assets 2021: $5,111,603Liabilities 2021: $27,193Net Assets 2021: $5,084,4102021Assets 2022: $4,980,527Liabilities 2022: $26,675Net Assets 2022: $4,953,8522022Assets 2023: $4,851,155Liabilities 2023: $25,341Net Assets 2023: $4,825,8142023Assets 2024: $4,796,701Liabilities 2024: $67,667Net Assets 2024: $4,729,0342024

Highlighted filing

2018

Assets$5,498,438
Liabilities$64,842
Net Assets$5,433,596

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $3,767,961Expenses 2013: $0Net Income 2013: $3,767,9612013Revenue 2014: $1,845,899Expenses 2014: $285,295Net Income 2014: $1,560,6042014Revenue 2015: $360,727Expenses 2015: $356,194Net Income 2015: $4,5332015Revenue 2016: $251,483Expenses 2016: $363,463Net Income 2016: -$111,9802016Revenue 2017: $263,122Expenses 2017: $380,853Net Income 2017: -$117,7312017Revenue 2018: $288,117Expenses 2018: $434,825Net Income 2018: -$146,7082018Revenue 2018: $288,117Expenses 2018: $434,825Net Income 2018: -$146,7082018Revenue 2019: $353,002Expenses 2019: $432,050Net Income 2019: -$79,0482019Revenue 2020: $318,151Expenses 2020: $457,446Net Income 2020: -$139,2952020Revenue 2021: $330,637Expenses 2021: $461,480Net Income 2021: -$130,8432021Revenue 2022: $341,611Expenses 2022: $472,169Net Income 2022: -$130,5582022Revenue 2023: $354,379Expenses 2023: $482,417Net Income 2023: -$128,0382023Revenue 2024: $379,997Expenses 2024: $476,777Net Income 2024: -$96,7802024

Highlighted filing

2018

Revenue$288,117
Expenses$434,825
Net Income-$146,708
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Mar 5, 2019
Return Version
2018v3.1
Gross Receipts
$288,117
Mission and Program Overview

Mission

To manage, upon completion of construction, a us department of housing & urban development section 202 project providing housing to low income elderly residents

To manage a us department of housing & urban development section 202 project providing housing to low income elderly residents

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,465,064$5,323,533▼ $141,531
Cash and Non-Interest-Bearing Accounts$4,511$14,024▲ $9,513
Savings and Temporary Cash Investments$10,612$10,934▲ $322
Prepaid Expenses and Deferred Charges$3,220$3,933▲ $713
Accounts Receivable-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$5,634,731$5,498,438▼ $136,293
Other Assets Total$151,324$146,014▼ $5,310
Liabilities
Accounts Payable and Accrued Expenses$42,489$53,433▲ $10,944
Other Liabilities$10,612$10,934▲ $322
Deferred Revenue$1,326$475▼ $851
Total Liabilities$54,427$64,842▲ $10,415
Net Assets / Fund Balance
Unrestricted Net Assets$5,580,304$5,433,596▼ $146,708
Total Net Assets Fund Balance$5,580,304$5,433,596▼ $146,708
Total Liabilities and Net Assets / Fund Balance$5,634,731$5,498,438▼ $136,293

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,745,953$640,520$5,386,473
Land$545,000-$545,000
Other Land Buildings$27,708$25,136$52,844
Equipment$4,872$3,179$8,051
Compensation and Service Providers

Board Members and Trustees

NameTitle
John H PaynePresident
Stanley LehmanVice President
Meghan HeddingsExecutive Director
Steven RussoSecretary
Steven RussoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$288,066
Investment Income
$51
Other Revenue
$0
Change in Net Assets
$-146,708

Audited Revenue Reconciliation

Revenue per Audited Statements
$288,117
Total Revenue per Audited Statements
$288,117
Total Revenue per Form 990
$288,117
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$334,113
Salaries, Compensation, and Employee Benefits$100,712
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$141,531--$141,531
Other Salaries and Wages$75,236--$75,236
Fees for Services Management$22,512--$22,512
Other Expenses$17,067--$17,067
Other Employee Benefits$16,145--$16,145
Office Expenses$15,668--$15,668
Fees for Services Accounting$13,305--$13,305
Insurance$8,449--$8,449
Payroll Taxes$7,179--$7,179
Pension Plan Contributions$2,152--$2,152
Advertising$1,363--$1,363
Total Functional Expenses$434,825$0$0$434,825

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$434,825
Total Expenses per Audited Statements$434,825
Total Expenses per Form 990$434,825
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Deposits$10,934
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

Organization does not use committees with authority to act on behalf of the governing body. Meetings and decisions undertaken by the governing body during the year are contemporaneously documented.

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

Form 990 was distributed to the governing body and reviewed by the organization's chief executive officer.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Organization enforces compliance with the conflict of interest policy by requiring annual disclosure statements from officers, directors and key employees. The organization also conducts periodic verbal inquiries of all managers for disclosure of any personal business relationships with company vendors. Organization also performs periodic reviews as outlined in the policy.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Board of directors reviews overall compensation using local comparability data and votes on any recommendation for increase or continuance. Such discussions are reflected in the minutes.

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

The organization's governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Silverwood Casitas Inc
EIN
80-0691441
Phone
5203180993
Address
1700 E Ft Lowell 101, Tucson, AZ 85719

Signing Officer

Name
Meghan Heddings
Title
Executive Director
Signed
2019-03-05
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Az
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Roberts Alexonis Group Pllc
Address
1660 E RIVER RD STE 100, TUCSON, AZ 85718-5834
Preparer
D Jack Roberts CPA
Phone
5208817211
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The organization is exempt from federal income tax under section 501(c)(3) of the irc and az revised statutes section 43-1201(4). Therefore no provision for income taxes has been made in the financial statements. However, income from certain activities not directly related to the organization's tax-exempt purpose is subject ot taxation as unrelated business income. The organization qualifies for the charitable contribution deduction under section 170(b)(1)(a) and have been classified as an organization other than private foundation under section 509(a. The organization believes it has appropriate support for any tax positions taken, and as such, does not have nay uncertain tax positions taht are material to the financial statements. The organization's federal income tax returns generally remain subject to examination by the internal revenue service for three years from the date filed. The organization's arizona income tax returns generally remain subject to examination by the arizona department of revenue for four years from the date filed.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010934
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE IRC AND AZ REVISED STATUTES SECTION 43-1201(4). THEREFORE NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE IS SUBJECT OT TAXATION AS UNRELATED BUSINESS INCOME. THE ORGANIZATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAVE BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN PRIVATE FOUNDATION UNDER SECTION 509(A. THE ORGANIZATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE NAY UNCERTAIN TAX POSITIONS TAHT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FEDERAL INCOME TAX RETURNS GENERALLY REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THREE YEARS FROM THE DATE FILED. THE ORGANIZATION'S ARIZONA INCOME TAX RETURNS GENERALLY REMAIN SUBJECT TO EXAMINATION BY THE ARIZONA DEPARTMENT OF REVENUE FOR FOUR YEARS FROM THE DATE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalExpensesPerForm990Amt0434825
IRS990ScheduleD/TotalLiabilityAmt010934
IRS990ScheduleD/TotalRevenuePerForm990Amt0288117
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION DOES NOT USE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. MEETINGS AND DECISIONS UNDERTAKEN BY THE GOVERNING BODY DURING THE YEAR ARE CONTEMPORANEOUSLY DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS DISTRIBUTED TO THE GOVERNING BODY AND REVIEWED BY THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY REQUIRING ANNUAL DISCLOSURE STATEMENTS FROM OFFICERS, DIRECTORS AND KEY EMPLOYEES. THE ORGANIZATION ALSO CONDUCTS PERIODIC VERBAL INQUIRIES OF ALL MANAGERS FOR DISCLOSURE OF ANY PERSONAL BUSINESS RELATIONSHIPS WITH COMPANY VENDORS. ORGANIZATION ALSO PERFORMS PERIODIC REVIEWS AS OUTLINED IN THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD OF DIRECTORS REVIEWS OVERALL COMPENSATION USING LOCAL COMPARABILITY DATA AND VOTES ON ANY RECOMMENDATION FOR INCREASE OR CONTINUANCE. SUCH DISCUSSIONS ARE REFLECTED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0FAMILY HOUSING RESOURCES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1INDUSTRIAL DEV AUTHORITY OF PIMA COUNTY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1GOVERNMENT
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1AZ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SUPPORTIVE HOUSING OPTIONS FOR LOW INCOM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1ISSUE TAX EXEMPT BONDS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt16700 B ORACLE RD STE 100
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt028981
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0FAMILY HOUSING RESOURCES INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0o
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IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
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