Civic Intelligence

Fbnega Title Holding Company

990 • Fiscal year 2019 • EIN 81-3878573

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 18, 2019

Organization Profile
861 Newton Bridge DrAthens, GA 30604

(770) 287-7800

Siviq Scores

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

Liabilities / Assets

78th percentile

0.96x

Higher debt load relative to assets than 78% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

74.74x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2019

Net Margin

9th percentile

-294%

Higher net margin than 9% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

35th percentile

$46,800

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 47.6% of source-year revenue.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2019

Asset Growth

25th percentile

-3.6%

Faster asset growth than 25% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

58th percentile

0.2%

Faster revenue growth than 58% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$7,634,557

Down $288,745 (-3.6%) from 2018

Net Assets

Down

$283,557

Down $288,745 (-50%) from 2018

Liabilities

Flat

$7,351,000

Flat from 2018

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin9th percentile

Revenue

Up

$98,353

Up $244 (+0.2%) from 2018

Expenses

Up

$387,098

Up $7,993 (+2.1%) from 2018

Net Income

Down

-$288,745

Down $7,749 (-2.8%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$10M$5.0M$0-$5.0MAssets 2017: $8,623,001Liabilities 2017: $7,769,703Net Assets 2017: $853,2982017Assets 2018: $7,923,302Liabilities 2018: $7,351,000Net Assets 2018: $572,3022018Assets 2019: $7,634,557Liabilities 2019: $7,351,000Net Assets 2019: $283,5572019Assets 2020: $7,338,027Liabilities 2020: $7,351,000Net Assets 2020: -$12,9732020Assets 2021: $6,962,177Liabilities 2021: $7,351,000Net Assets 2021: -$388,8232021Assets 2022: $6,700,808Liabilities 2022: $7,351,000Net Assets 2022: -$650,1922022Assets 2023: $6,368,656Liabilities 2023: $7,351,000Net Assets 2023: -$982,3442023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2019

Assets$7,634,557
Liabilities$7,351,000
Net Assets$283,557
Open 2019 Filing

Operations Trend

Revenue Growth58th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $899,630Expenses 2017: $174,844Net Income 2017: $724,7862017Revenue 2018: $98,109Expenses 2018: $379,105Net Income 2018: -$280,9962018Revenue 2019: $98,353Expenses 2019: $387,098Net Income 2019: -$288,7452019Revenue 2020: $98,300Expenses 2020: $394,830Net Income 2020: -$296,5302020Revenue 2021: $97,422Expenses 2021: $473,272Net Income 2021: -$375,8502021Revenue 2022: $97,746Expenses 2022: $359,115Net Income 2022: -$261,3692022Revenue 2023: $97,746Expenses 2023: $429,898Net Income 2023: -$332,1522023Revenue 2024: $7,387,056Expenses 2024: $6,404,712Net Income 2024: $982,3442024

Highlighted filing

2019

Revenue$98,353
Expenses$387,098
Net Income-$288,745
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 18, 2019
Return Version
2018v3.1
Gross Receipts
$98,353
Mission and Program Overview

Mission

The organization is a qualified active low income community business (qalicb) for new markets tax credit purposes. The primary mission of the corporation is holding title to property, collecting income from that property, and turning over the entire amount of such income, less expenses, to the food bank of northeast georgia, inc, an organization exempt from federal income tax pursuant to section 501(c)(3)

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,439,469$7,163,949▼ $275,520
Intangible Assets$452,549$439,069▼ $13,480
Cash and Non-Interest-Bearing Accounts$24,845$27,413▲ $2,568
Total Assets$7,923,302$7,634,557▼ $288,745
Other Assets Total$6,439$4,126▼ $2,313
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,350,000$7,350,000→ $0
Other Liabilities$1,000$1,000→ $0
Total Liabilities$7,351,000$7,351,000→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$572,302$283,557▼ $288,745
Total Net Assets Fund Balance$572,302$283,557▼ $288,745
Total Liabilities and Net Assets / Fund Balance$7,923,302$7,634,557▼ $288,745

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,493,132$642,752$6,135,884
Equipment$500,018$385,423$885,441
Land$857,205-$857,205
Leasehold Improvements$313,594$138,967$452,561
Compensation and Service Providers
Top Officer Pay35th percentile

Employees

NameTitleFull / Part TimeOtherTotal
John BeckerDirectorFT$46,800$46,800
Chuck ToneyExecutive DiFT$3,947$3,947

Board Members and Trustees

NameTitle
Bobby ErwinDirector
Brandon MartinDirector
Brock TooleDirector
Caree CotwrightDirector
Charles DavisDirector
Charlie MaddoxDirector
Connie CrawleyDirector
Darrell GoodmanDirector
David DarughDirector
John GrahamDirector
Leckie StackDirector
Margaret ShermanDirector
Mark MetcalfDirector
Myung CoganDirector
Randall AbneyDirector
Richard BooneDirector
Robert WallDirector
Steve ParksDirector
Adam LandSecretary
John TebeauTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$98,236
Investment Income
$117
Other Revenue
$0
Change in Net Assets
$-288,745
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$387,098
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
Depreciation Depletion---$275,096
Interest---$95,788
Other Expenses---$13,510
Fees for Services Accounting---$2,313
Office Expenses---$391
Total Functional Expenses$0$0$0$387,098
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit Held$1,000
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

“The annual 990 is reviewed by the treasurer and finance committee and then brought before the board”

Form 990, Page 6, Part VI, Line 12C

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request”

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

“This organization does not pay compensation”

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

“This organization does not pay compensation”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Fbnega Title Holding Company
EIN
81-3878573
Address
861 NEWTON BRIDGE DR, ATHENS, GA 30604

Signing Officer

Name
Chuck Toney
Title
Executive Director
Phone
7063548191
Signed
2019-12-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chuck Toney
Formed
2016
Legal Domicile
Ga
Voting Board Members
20
Independent Board Members
20
Employees
0

Preparer

Firm
Rushton & Company LLC
Address
PO BOX 2917, GAINESVILLE, GA 30503
Preparer
J Chris Hollifield
Phone
7702877800
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization is a qualified active low income community business (qalicb) for new markets tax credit purposes. The primary mission of the corporation is holding title to property, collecting income from that property, and turning over the entire amount of such income, less expenses, to the food bank of northeast georgia, inc, an organization exempt from federal income tax pursuant to section 501(c)(3)”

Financial Statement Notes

Schedule D, Page 3, Part X

“Note 18 - uncertain tax positions effective july 1, 2009, the food bank implemented the new accounting requirements associated with uncertainty in income taxes using the provisions of fasb asc 740, income taxes. The guidance prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required before being recognized in the financial statements. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of june 30, 2019, the food bank has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. With few exceptions, the food bank is no longer subject to u.s. Federal, state, and local income tax examinations by tax authorities for years before fiscal year 2016.”

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IRS990/MissionDesc0THE ORGANIZATION IS A QUALIFIED ACTIVE LOW INCOME COMMUNITY BUSINESS (QALICB) FOR NEW MARKETS TAX CREDIT PURPOSES. THE PRIMARY MISSION OF THE CORPORATION IS HOLDING TITLE TO PROPERTY, COLLECTING INCOME FROM THAT PROPERTY, AND TURNING OVER THE ENTIRE AMOUNT OF SUCH INCOME, LESS EXPENSES, TO THE FOOD BANK OF NORTHEAST GEORGIA, INC, AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO SECTION 501(C)(3)
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NOTE 18 - UNCERTAIN TAX POSITIONS EFFECTIVE JULY 1, 2009, THE FOOD BANK IMPLEMENTED THE NEW ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ASC 740, INCOME TAXES. THE GUIDANCE PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF JUNE 30, 2019, THE FOOD BANK HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE FOOD BANK IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE FISCAL YEAR 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalLiabilityAmt01000
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A QUALIFIED ACTIVE LOW INCOME COMMUNITY BUSINESS (QALICB) FOR NEW MARKETS TAX CREDIT PURPOSES. THE PRIMARY MISSION OF THE CORPORATION IS HOLDING TITLE TO PROPERTY, COLLECTING INCOME FROM THAT PROPERTY, AND TURNING OVER THE ENTIRE AMOUNT OF SUCH INCOME, LESS EXPENSES, TO THE FOOD BANK OF NORTHEAST GEORGIA, INC, AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO SECTION 501(C)(3)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ANNUAL 990 IS REVIEWED BY THE TREASURER AND FINANCE COMMITTEE AND THEN BROUGHT BEFORE THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS ORGANIZATION DOES NOT PAY COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THIS ORGANIZATION DOES NOT PAY COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,634,557
Liabilities
$7,351,000
Net assets
$283,557
Revenue
$98,353
Expenses
$387,098
Net income
-$288,745
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$7.39$6.40$0.98
2023Detailed filing. Detailed filing data is available for this year.$6.37$7.35$0.98$0.10$0.43$0.33
2022Detailed filing. Detailed filing data is available for this year.$6.70$7.35$0.65$0.10$0.36$0.26
2021Detailed filing. Detailed filing data is available for this year.$6.96$7.35$0.39$0.10$0.47$0.38
2020Detailed filing. Detailed filing data is available for this year.$7.34$7.35$0.01$0.10$0.39$0.30
2019Detailed filing. Detailed filing data is available for this year.$7.63$7.35$0.28$0.10$0.39$0.29
2018Detailed filing. Detailed filing data is available for this year.$7.92$7.35$0.57$0.10$0.38$0.28
2017Detailed filing. Detailed filing data is available for this year.$8.62$7.77$0.85$0.90$0.17$0.72