Civic Intelligence

Elite Choice Properties Inc.

990 • Fiscal year 2019 • EIN 81-3886910

Oct 01, 2018 to Sep 30, 2019 • Filed on Aug 05, 2020

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

85th percentile

0.73x

Higher debt load relative to assets than 85% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

94th percentile

4.95x

Higher debt load relative to revenue than 94% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

7th percentile

-45%

Higher net margin than 7% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

67th percentile

9.1%

Faster asset growth than 67% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

98th percentile

267%

Faster revenue growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$5,140,106

Up $427,529 (+9.1%) from 2018

Net Assets

Down

$1,382,331

Down $30,350 (-2.1%) from 2018

Liabilities

Up

$3,757,775

Up $457,879 (+14%) from 2018

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin7th percentile

Revenue

Up

$759,608

Up $552,502 (+267%) from 2018

Expenses

Up

$1,100,816

Up $823,270 (+297%) from 2018

Net Income

Down

-$341,208

Down $270,768 (-384%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

2019

Assets$5,140,106
Liabilities$3,757,775
Net Assets$1,382,331
Open 2019 Filing

Operations Trend

Revenue Growth98th percentile

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

2019

Revenue$759,608
Expenses$1,100,816
Net Income-$341,208
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Aug 5, 2020
Return Version
2018v3.1
Gross Receipts
$759,608
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$1,815,533▲ $223,776
Cash and Non-Interest-Bearing Accounts$55,230$126,842▲ $71,612
Prepaid Expenses and Deferred Charges$6,371$15,668▲ $9,297
Inventories for Sale or Use-$8,524-
Accounts Receivable$18,363$4,353▼ $14,010
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-
Total Assets$4,712,577$5,140,106▲ $427,529
Other Assets Total$3,040,856$3,169,186▲ $128,330
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,141,488$3,101,887▼ $39,601
Accounts Payable and Accrued Expenses$137,635$631,782▲ $494,147
Other Liabilities$17,951$18,568▲ $617
Deferred Revenue$2,822$5,538▲ $2,716
Total Liabilities$3,299,896$3,757,775▲ $457,879
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,022,220--
Unrestricted Net Assets$-1,609,539$1,382,331▲ $2,991,870
Total Net Assets Fund Balance$1,412,681$1,382,331▼ $30,350
Total Liabilities and Net Assets / Fund Balance$4,712,577$5,140,106▲ $427,529

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,586,807$5,175,889$6,762,696
Land$228,726-$228,726
Other Assets Org$2,607,825--
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Benjamin LewisDirector
Dexter RicksDirector
Dr Deborah Arnold BoydDirector
Owen PittmanDirector
Randy ClarkDirector
John CorcoranCEO
Revenue and Support

Revenue Composition

Contributions and Grants
$649,617
Program Service Revenue
$106,310
Investment Income
$3,681
Other Revenue
$0
All Other Contributions
$1,630
Change in Net Assets
$-341,208
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$955,741
Salaries, Compensation, and Employee Benefits$145,075
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$140,458--$140,458
Interest$140,114--$140,114
Other Employee Benefits$75,906--$75,906
Office Expenses$74,020--$74,020
Fees for Services Management$72,852--$72,852
Other Salaries and Wages$69,169--$69,169
Fees for Services Legal$40,094--$40,094
Insurance$32,688--$32,688
Fees for Services Accounting$19,655--$19,655
Travel$6,719--$6,719
Other Expenses$5,510--$5,510
All Other Expenses$1,243--$1,243
Advertising$103--$103
Total Functional Expenses$1,100,816$0$0$1,100,816
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$15,801
#2390 Miscellaneous Long Term Liab$2,767
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
No
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
John Corcoran
Title
CEO
Signed
2020-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Corcoran
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

“Contribution of MHA CFP funds for renovations = $310858”

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IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0647987
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0179714
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0827701
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt03654
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0788
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04442
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt0827701
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0647987
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0179714
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0827701
IRS990ScheduleA/TotalSupportAmt0832143
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01586807
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05175889
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06762696
IRS990ScheduleD/LandGrp/BookValueAmt0228726
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0228726
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt017271
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt148303
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2495787
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt32607825
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/Amt015801
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12767
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0#2191 Security deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1#2390 Miscellaneous Long Term Liab
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01815533
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03169186
IRS990ScheduleD/TotalLiabilityAmt018568
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/ExplanationTxt2Contribution of MHA CFP funds for renovations = $310858
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt03022220
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04712577
IRS990/TotalAssetsEOYAmt05140106
IRS990/TotalAssetsGrp/BOYAmt04712577
IRS990/TotalAssetsGrp/EOYAmt05140106
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0649617
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01100816
IRS990/TotalFunctionalExpensesGrp/TotalAmt01100816
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03299896
IRS990/TotalLiabilitiesEOYAmt03757775
IRS990/TotalLiabilitiesGrp/BOYAmt03299896
IRS990/TotalLiabilitiesGrp/EOYAmt03757775
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01412681
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01382331
IRS990/TotalProgramServiceExpensesAmt01100816
IRS990/TotalProgramServiceRevenueAmt0106310
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0109991
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0759608
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04712577
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05140106
IRS990/TravelGrp/ProgramServicesAmt06719
IRS990/TravelGrp/TotalAmt06719
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1609539
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01382331
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0545 W Martin Luther King Jr Blvd
IRS990/USAddress/CityNm0Milledgeville
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd0310612740
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0John Corcoran
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-05
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

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,140,106
Liabilities
$3,757,775
Net assets
$1,382,331
Revenue
$759,608
Expenses
$1,100,816
Net income
-$341,208
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
2019Detailed filing. Detailed filing data is available for this year.$5.14$3.76$1.38$0.76$1.10$0.34
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.71$3.30$1.41$0.21$0.28$0.07