Civic Intelligence

Generous Heart Community Development Inc.

990 • Fiscal year 2022 • EIN 85-3706751

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

PO Box 924Noblesville, IN 46061

(317) 582-6200

Siviq Scores

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

Liabilities / Assets

94th percentile

1.03x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

63.26x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

2nd percentile

-158%

Higher net margin than 2% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

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

Source year 2022

Revenue Growth

Score unavailable

No value available

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

Source year 2022

Assets

$7,801,581

No earlier filing loaded for comparison.

Net Assets

-$199,947

No earlier filing loaded for comparison.

Liabilities

$8,001,528

No earlier filing loaded for comparison.

Revenue

$126,491

No earlier filing loaded for comparison.

Expenses

$326,267

No earlier filing loaded for comparison.

Net Income

-$199,776

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2022: $7,801,581Liabilities 2022: $8,001,528Net Assets 2022: -$199,9472022Assets 2023: $19,314,081Liabilities 2023: $21,481,943Net Assets 2023: -$2,167,8622023Assets 2024: $20,689,580Liabilities 2024: $24,648,519Net Assets 2024: -$3,958,9392024

Highlighted filing

2022

Assets$7,801,581
Liabilities$8,001,528
Net Assets-$199,947

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2022: $126,491Expenses 2022: $326,267Net Income 2022: -$199,7762022Revenue 2023: $934,673Expenses 2023: $2,902,588Net Income 2023: -$1,967,9152023Revenue 2024: $2,530,704Expenses 2024: $6,107,516Net Income 2024: -$3,576,8122024

Highlighted filing

2022

Revenue$126,491
Expenses$326,267
Net Income-$199,776
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$126,491
Mission and Program Overview

Mission

Generous heart community development inc. Develops, facilitates, manages and maintains affordable housing for low-income individuals. Such affordable housing services are limited to those individuals who qualify for charitable affordable housing assistance in accordance with revenue procedure 96-32 and other applicable hud, federal, state and local limitations and restrictions with respect to the provision of affordable housing to individuals on a charitable basis.

To failitate, develop, and own new affordable assisted living projects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$4,972,222▲ $4,972,222
Cash and Non-Interest-Bearing Accounts$0$38,018▲ $38,018
Accounts Receivable$0$36,217▲ $36,217
Intangible Assets$0$30,164▲ $30,164
Prepaid Expenses and Deferred Charges$0$3,797▲ $3,797
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-171$-199,947▼ $199,776
Total Assets$0$7,801,581▲ $7,801,581
Other Assets Total$0$2,721,163▲ $2,721,163
Liabilities
Mortgage Notes Payable Secured by Investment Property-$6,554,374-
Accounts Payable and Accrued Expenses$171$1,447,154▲ $1,446,983
Total Liabilities$171$8,001,528▲ $8,001,357
Net Assets / Fund Balance
Total Net Assets Fund Balance$-171$-199,947▼ $199,776
Total Liabilities and Net Assets / Fund Balance$0$7,801,581▲ $7,801,581

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,972,222$27,778$5,000,000
Other Assets Org$2,721,163--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Thomas SearsPresident
Josh WatsonVice-president & Secretary
Milissa TurnerDirector
Paul Ezekiel TurnerDirector
Lori AltTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$126,491
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-199,776
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$263,480
Salaries, Compensation, and Employee Benefits$62,787
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$117,000--$117,000
Interest$84,975--$84,975
Other Salaries and Wages$57,243--$57,243
Depreciation Depletion$27,778--$27,778
Office Expenses$11,529--$11,529
Insurance$8,311--$8,311
Payroll Taxes$5,500--$5,500
Advertising$3,372--$3,372
Information Technology$3,359--$3,359
Occupancy$2,760--$2,760
Fees for Services Other$1,344--$1,344
Other Expenses$527$437-$527
Fees for Services Accounting-$350-$350
Travel$188--$188
Other Employee Benefits$44--$44
Fees for Services Legal-$35-$35
Total Functional Expenses$325,445$822$0$326,267
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Lori AltLORI'S HUSBAND, SETH ALT, IS THE SOLE OWNER OF ALT CONSTRUCTIONConstruction WorkNo$716,689
Paul Ezekiel TurnerMajority Owner of Vita Investment HoldingsPreconstruction Costs for Low Income HousingNo$172,170
Milissa TurnerSole Owner of Woodland and Wildflowers, LLCInterior Design ConsultingNo$50,000
Paul Ezekiel TurnerMajority Owner of Vita Investment HoldingsOperating CapitalNo$26,200
Paul Ezekiel TurnerSole Owner of Mic Management, LLCInsurance PaymentsNo$23,805
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Milissa turner and paul ezekiel turner are married.

Form 990, Part VI, Section B, Line 11B

The board reviews a copy of form 900 prior to filing.

Form 990, Part VI, Section B, Line 12C

Compliance with the conflict of interest policy is reviewed annually or at any such time that a conflict occurs.

Form 990, Part VI, Section C, Line 19

Governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Generous Heart Community Development Inc
EIN
85-3706751
Phone
3175826200
Address
PO BOX 924, NOBLESVILLE, IN 46061

Signing Officer

Name
Paul E Turner
Title
President
Phone
3175826200
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Sears
Formed
2020
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
23
Volunteers
5

Preparer

Firm
Ksm Business Services Inc
Address
PO BOX 40857, INDIANAPOLIS, IN 46240
Preparer
Donald R Boezeman
Phone
3175802000
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 2A;

The organization is using the peo model for payroll reporting. Expenses and compensation are being reported as provided by the peo.

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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4LORI'S HUSBAND, SETH ALT, IS THE SOLE OWNER OF ALT CONSTRUCTION
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt223805
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt350000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt4716689
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PRECONSTRUCTION COSTS FOR LOW INCOME HOUSING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1OPERATING CAPITAL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2INSURANCE PAYMENTS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3INTERIOR DESIGN CONSULTING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc4CONSTRUCTION WORK
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MILISSA TURNER AND PAUL EZEKIEL TURNER ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS A COPY OF FORM 900 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY OR AT ANY SUCH TIME THAT A CONFLICT OCCURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION IS USING THE PEO MODEL FOR PAYROLL REPORTING. EXPENSES AND COMPENSATION ARE BEING REPORTED AS PROVIDED BY THE PEO.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART V, LINE 2A;
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0GENEROUS HEART COMMUNITY DEVELOPMENT INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1GENEROUS HEART COMMUNITY DEVELOPMENT INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt2GENEROUS HEART COMMUNITY DEVELOPMENT INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0AHP UNION CITY AL LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1AHP YORKTOWN AL LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2HAMILTON PLACE LP
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0883520259
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1883524177
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN2200810718
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt05321602
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt13666692
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt21068900
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0IN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1IN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd2IN
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0REAL ESTATE
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1REAL ESTATE
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt2REAL ESTATE
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0-58399
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt1-40691
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt2-219945
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0PO BOX 924
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt1PO BOX 924
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt2PO BOX 920
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0NOBLESVILLE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1NOBLESVILLE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm2CICERO
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0IN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd1IN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd2IN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd046061
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd146061
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd246034
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0VITA OF MARION MM LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt1GENEROUS HEART - MARION NONPROFIT LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt2GENEROUS HEART COMMUNITY DEVELOPMENT INC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd10
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd20
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0852224673
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN1852257763
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN2853713042
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd10
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd20
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0IN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd1IN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd2IN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.01000
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct10.20000
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct21.00000
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0ASSISTED LIVING AND MEMORY CARE FACILITY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1HOLDING COMPANY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt2HOLDING COMPANY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0VITA OF MARION LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt1VITA OF MARION MM LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt2GENEROUS HEART - MARION NONPROFIT LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt0618
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt1618
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt2618
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt01
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt11
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt21
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0PO BOX 920
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt1PO BOX 920
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt2PO BOX 924
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0CICERO
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm1CICERO
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm2NOBLESVILLE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0IN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd1IN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd2IN
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd046034
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd146034
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd246061
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00

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