Civic Intelligence

Elite Choice Properties Inc.

990 • Fiscal year 2018 • EIN 81-3886910

Oct 01, 2017 to Sep 30, 2018 • Filed on Aug 13, 2019

Organization ProfileN/A
545 W Martin Luther King Jr BlvdMilledgeville, GA 31061

(478) 445-2880

Siviq Scores

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

Liabilities / Assets

86th percentile

0.70x

Higher debt load relative to assets than 86% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

99th percentile

15.93x

Higher debt load relative to revenue than 99% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

9th percentile

-34%

Higher net margin than 9% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets86th percentile

Assets

$4,712,577

No earlier filing loaded for comparison.

Net Assets

$1,412,681

No earlier filing loaded for comparison.

Liabilities

$3,299,896

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin9th percentile

Revenue

$207,106

No earlier filing loaded for comparison.

Expenses

$277,546

No earlier filing loaded for comparison.

Net Income

-$70,440

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Assets 2018: $4,712,577Liabilities 2018: $3,299,896Net Assets 2018: $1,412,6812018Assets 2019: $5,140,106Liabilities 2019: $3,757,775Net Assets 2019: $1,382,3312019Assets 2020: $5,087,272Liabilities 2020: $3,638,424Net Assets 2020: $1,448,8482020Assets 2021: $4,860,552Liabilities 2021: $3,735,400Net Assets 2021: $1,125,1522021Assets 2022: $4,619,234Liabilities 2022: $3,795,439Net Assets 2022: $823,7952022Assets 2023: $4,471,607Liabilities 2023: $3,876,147Net Assets 2023: $595,4602023Assets 2024: $4,293,445Liabilities 2024: $3,908,399Net Assets 2024: $385,0462024

Highlighted filing

2018

Assets$4,712,577
Liabilities$3,299,896
Net Assets$1,412,681
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $207,106Expenses 2018: $277,546Net Income 2018: -$70,4402018Revenue 2019: $759,608Expenses 2019: $1,100,816Net Income 2019: -$341,2082019Revenue 2020: $974,587Expenses 2020: $935,613Net Income 2020: $38,9742020Revenue 2021: $859,922Expenses 2021: $1,183,618Net Income 2021: -$323,6962021Revenue 2022: $810,029Expenses 2022: $1,111,386Net Income 2022: -$301,3572022Revenue 2023: $841,984Expenses 2023: $1,070,319Net Income 2023: -$228,3352023Revenue 2024: $950,321Expenses 2024: $1,160,735Net Income 2024: -$210,4142024

Highlighted filing

2018

Revenue$207,106
Expenses$277,546
Net Income-$70,440
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Aug 13, 2019
Return Version
2017v2.2
Gross Receipts
$207,106
Mission and Program Overview

Mission

To provide housing to low-income families under HUD multi-family rental assistance program (RAD) There are 149 units at this property.

Provide housing under HUD's Multi-family program. The property consists of 149 family units. This property transitioned from HUD's Public Housing Program to HUD's Multi-Family Program under HUD's RAD program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$1,591,757-
Cash and Non-Interest-Bearing Accounts-$55,230-
Accounts Receivable-$18,363-
Prepaid Expenses and Deferred Charges-$6,371-
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$0$4,712,577▲ $4,712,577
Other Assets Total-$3,040,856-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$3,141,488-
Accounts Payable and Accrued Expenses-$137,635-
Other Liabilities-$17,951-
Deferred Revenue-$2,822-
Total Liabilities$0$3,299,896▲ $3,299,896
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$3,022,220-
Unrestricted Net Assets-$-1,609,539-
Total Net Assets Fund Balance$0$1,412,681▲ $1,412,681
Total Liabilities and Net Assets / Fund Balance$0$4,712,577▲ $4,712,577

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,363,031$5,035,431$6,398,462
Land$228,726-$228,726
Other Assets Org$2,553,177--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Benjamin LewisDirector
Dexter RicksDirector
Dr Deborah Arnold BoydDirector
Owen PittmanDirector
Randy ClarkDirector
Carrie JarrettInterim ED/Director
Revenue and Support

Revenue Composition

Contributions and Grants
$179,714
Program Service Revenue
$26,604
Investment Income
$788
Other Revenue
$0
Change in Net Assets
$-70,440

Audited Revenue Reconciliation

Revenue per Audited Statements
$207,106
Total Revenue per Audited Statements
$207,106
Total Revenue per Form 990
$207,106
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$231,934
Salaries, Compensation, and Employee Benefits$45,612
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$44,705--$44,705
Depreciation Depletion$35,429--$35,429
Other Salaries and Wages$30,309--$30,309
Fees for Services Management$19,965--$19,965
Office Expenses$17,193--$17,193
Other Employee Benefits$15,303--$15,303
Insurance$6,371--$6,371
Fees for Services Accounting$3,643--$3,643
Fees for Services Legal$1,109--$1,109
Travel$570--$570
Other Expenses$296--$296
Total Functional Expenses$277,546$0$0$277,546

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$277,546
Total Expenses per Audited Statements$277,546
Total Expenses per Form 990$277,546
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
#2191 Security deposits$17,951
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

“The Form 990 is reviewed with the Executive Director by the entity's CPA.”

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

“All documents not covered under the privacy act (either Georgia or Federal) are available for review upon written request to the Executive Director.”

Filing and Contact Details

Filer

Filer Name
Elite Choice Properties Inc
EIN
81-3886910
Address
545 W Martin Luther King Jr Blvd, Milledgeville, GA 31061

Signing Officer

Name
Carrie Jarrett
Title
Interim ED/Director
Signed
2019-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carrie Jarrett
Formed
2016
Legal Domicile
Ga
Voting Board Members
6
Independent Board Members
0
Employees
0

Preparer

Firm
James E Kinkead PC
Address
3973 Atlanta Highway Suite 800, Loganville, GA 30052
Preparer
James E Kinkead CPA
Phone
7704667070
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Prior period adjustment - RAD conversion = $1483121”

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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/LandGrp/OtherCostOrOtherBasisAmt0228726
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt018636
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt122249
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2446794
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt32553177
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0#1191 Security Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1#1310 Insurance reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2#1320 Reserve for replacements
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3#1330 Other reserves
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017951
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0#2191 Security deposits
IRS990ScheduleD/RevenueSubtotalAmt0207106
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01591757
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03040856
IRS990ScheduleD/TotalExpensesPerForm990Amt0277546
IRS990ScheduleD/TotalLiabilityAmt017951
IRS990ScheduleD/TotalRevenuePerForm990Amt0207106
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0207106
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0277546
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is reviewed with the Executive Director by the entity's CPA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All documents not covered under the privacy act (either Georgia or Federal) are available for review upon written request to the Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Prior period adjustment - RAD conversion = $1483121
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other Changes In Net Assets Or Fund Balances - Other Increases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt03022220
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt04712577
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt04712577
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0179714
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0277546
IRS990/TotalFunctionalExpensesGrp/TotalAmt0277546
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt03299896
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt03299896
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01412681
IRS990/TotalProgramServiceExpensesAmt0277546
IRS990/TotalProgramServiceRevenueAmt026604
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt027392
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0207106
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04712577
IRS990/TravelGrp/ProgramServicesAmt0570
IRS990/TravelGrp/TotalAmt0570
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1609539
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0545 W Martin Luther King Jr Bl
IRS990/USAddress/CityNm0Milledgeville
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd0310612740
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Carrie Jarrett
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Interim ED/Dir
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Elite Choice Properties Inc
ReturnHeader/Filer/BusinessNameControlTxt0ELIT
ReturnHeader/Filer/EIN0813886910
ReturnHeader/Filer/USAddress/AddressLine1Txt0545 W Martin Luther King Jr Blvd
ReturnHeader/Filer/USAddress/CityNm0Milledgeville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd031061
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0581703117
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0James E Kinkead PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03973 Atlanta Highway Suite 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Loganville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030052
ReturnHeader/PreparerPersonGrp/PhoneNum07704667070
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0James E Kinkead CPA
ReturnHeader/ReturnTs02019-08-13T13:05:53-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,712,577
Liabilities
$3,299,896
Net assets
$1,412,681
Revenue
$207,106
Expenses
$277,546
Net income
-$70,440
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.29$3.91$0.39$0.95$1.16$0.21
2023Summary only. Only limited summary data is available for this year.$4.47$3.88$0.60$0.84$1.07$0.23
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.62$3.80$0.82$0.81$1.11$0.30
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.86$3.74$1.13$0.86$1.18$0.32
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.09$3.64$1.45$0.97$0.94$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.14$3.76$1.38$0.76$1.10$0.34
2018Detailed filing. Detailed filing data is available for this year.$4.71$3.30$1.41$0.21$0.28$0.07