Civic Intelligence

Tanner Terrace Inc.

990 • Fiscal year 2022 • EIN 86-0344610

Oct 01, 2021 to Sep 30, 2022 • Filed on Jan 18, 2023

Organization ProfileN/A
700 E Jefferson Street Suite 230Phoenix, AZ 85034

(602) 243-1036

Siviq Scores

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

Liabilities / Assets

97th percentile

1.38x

Higher debt load relative to assets than 97% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

90th percentile

1.38x

Higher debt load relative to revenue than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

16th percentile

-17%

Higher net margin than 16% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

9th percentile

-19%

Faster asset growth than 9% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

58th percentile

11%

Faster revenue growth than 58% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$1,610,430

Down $370,145 (-19%) from 2021

Net Assets

Down

-$616,415

Down $273,029 (-80%) from 2021

Liabilities

Down

$2,226,845

Down $97,116 (-4.2%) from 2021

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin16th percentile

Revenue

Up

$1,615,824

Up $165,886 (+11%) from 2021

Expenses

Up

$1,888,853

Up $531,798 (+39%) from 2021

Net Income

Down

-$273,029

Down $365,912 (-394%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2011: $1,081,302Liabilities 2011: $2,202,544Net Assets 2011: -$1,121,2422011Assets 2012: $1,086,944Liabilities 2012: $2,042,894Net Assets 2012: -$955,9502012Assets 2013: $1,056,395Liabilities 2013: $1,808,349Net Assets 2013: -$751,9542013Assets 2014: $978,808Liabilities 2014: $1,558,462Net Assets 2014: -$579,6542014Assets 2015: $1,487,696Liabilities 2015: $2,107,448Net Assets 2015: -$619,7522015Assets 2016: $1,640,307Liabilities 2016: $2,198,839Net Assets 2016: -$558,5322016Assets 2017: $1,566,881Liabilities 2017: $2,075,893Net Assets 2017: -$509,0122017Assets 2018: $1,535,207Liabilities 2018: $2,008,131Net Assets 2018: -$472,9242018Assets 2019: $1,576,013Liabilities 2019: $2,004,281Net Assets 2019: -$428,2682019Assets 2020: $1,530,443Liabilities 2020: $1,966,712Net Assets 2020: -$436,2692020Assets 2021: $1,980,575Liabilities 2021: $2,323,961Net Assets 2021: -$343,3862021Assets 2022: $1,610,430Liabilities 2022: $2,226,845Net Assets 2022: -$616,4152022Assets 2023: $1,463,961Liabilities 2023: $1,969,844Net Assets 2023: -$505,8832023Assets 2024: $1,499,739Liabilities 2024: $1,981,830Net Assets 2024: -$482,0912024

Highlighted filing

2022

Assets$1,610,430
Liabilities$2,226,845
Net Assets-$616,415
Open 2022 Filing

Operations Trend

Revenue Growth58th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,241,945Expenses 2011: $1,068,679Net Income 2011: $173,2662011Revenue 2012: $1,185,066Expenses 2012: $1,019,774Net Income 2012: $165,2922012Revenue 2013: $1,218,719Expenses 2013: $1,014,723Net Income 2013: $203,9962013Revenue 2014: $1,250,244Expenses 2014: $1,077,944Net Income 2014: $172,3002014Revenue 2015: $1,279,051Expenses 2015: $1,319,149Net Income 2015: -$40,0982015Revenue 2016: $1,313,001Expenses 2016: $1,251,781Net Income 2016: $61,2202016Revenue 2017: $1,346,862Expenses 2017: $1,297,342Net Income 2017: $49,5202017Revenue 2018: $1,371,223Expenses 2018: $1,335,135Net Income 2018: $36,0882018Revenue 2019: $1,406,160Expenses 2019: $1,391,504Net Income 2019: $14,6562019Revenue 2020: $1,436,565Expenses 2020: $1,414,566Net Income 2020: $21,9992020Revenue 2021: $1,449,938Expenses 2021: $1,357,055Net Income 2021: $92,8832021Revenue 2022: $1,615,824Expenses 2022: $1,888,853Net Income 2022: -$273,0292022Revenue 2023: $2,524,176Expenses 2023: $2,413,644Net Income 2023: $110,5322023Revenue 2024: $1,701,254Expenses 2024: $1,677,462Net Income 2024: $23,7922024

Highlighted filing

2022

Revenue$1,615,824
Expenses$1,888,853
Net Income-$273,029
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jan 18, 2023
Return Version
2021v4.0
Gross Receipts
$1,615,824
Mission and Program Overview

Mission

Tnner terrace provides affordable housing for low income elderly residents.

Tanner terrace provides affordable housing for low income elderly residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$673,336$838,307▲ $164,971
Prepaid Expenses and Deferred Charges$344,086$237,431▼ $106,655
Cash and Non-Interest-Bearing Accounts$370,886$43,170▼ $327,716
Accounts Receivable$1,238$3,062▲ $1,824
Total Assets$1,980,575$1,610,430▼ $370,145
Other Assets Total$591,029$488,460▼ $102,569
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,725,873$1,879,320▲ $153,447
Accounts Payable and Accrued Expenses$556,551$314,692▼ $241,859
Other Liabilities$41,537$32,833▼ $8,704
Total Liabilities$2,323,961$2,226,845▼ $97,116
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-343,386$-616,415▼ $273,029
Total Net Assets Fund Balance$-343,386$-616,415▼ $273,029
Total Liabilities and Net Assets / Fund Balance$1,980,575$1,610,430▼ $370,145

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$551,824$5,472,039$6,023,863
Land$286,483-$286,483
Other Assets Org$18,315--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Lc Demon CareyPresident
Dr Lottie LecianDirector
Jacquelyn ToliverDirector
Michael DeanDirector
Phyllis RodriquezDirector
Valerie RochonDirector
Theresa HaleSecretary
Virgil BerryTreasurer
Kerwin BrownVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,364,355
Investment Income
$478
Other Revenue
$250,991
Change in Net Assets
$-273,029

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,615,824
Total Revenue per Audited Statements
$1,615,824
Total Revenue per Form 990
$1,615,824
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,725,093
Salaries, Compensation, and Employee Benefits$163,760
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$921,264--$921,264
Office Expenses-$379,043-$379,043
Interest$198,419--$198,419
Other Salaries and Wages-$107,897-$107,897
Depreciation Depletion$79,223--$79,223
Other Expenses$55,658--$55,658
Insurance$42,729--$42,729
Fees for Services Accounting-$40,353-$40,353
Payroll Taxes$29,488--$29,488
Other Employee Benefits$26,375--$26,375
Advertising-$6,557-$6,557
Fees for Services Legal-$1,745-$1,745
Conferences and Meetings-$102-$102
Total Functional Expenses$1,353,156$535,697$0$1,888,853

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,888,853
Total Expenses per Audited Statements$1,888,853
Total Expenses per Form 990$1,888,853
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit$32,833
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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, Page 6, Part VI, Line 11B

“No review has or will be conducted.”

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

“Organization reviews comparable pay for similar positions within the industry based upon experience and locations, in order to accurately calculate reasonable pay.”

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

“Organization reviews comparable pay for similar positions within the industry based upon experience and locations, in order to accurately calculate reasonable pay.”

Form 990, Page 6, Part VI, Line 19

“Information is available upon written request.”

Filing and Contact Details

Filer

Filer Name
Tanner Terrace Inc
EIN
86-0344610
Address
700 E JEFFERSON STREET SUITE 230, PHOENIX, AZ 85034

Signing Officer

Name
Lc Demon Carey
Title
President
Signed
2023-01-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lc Demon Carey
Legal Domicile
Az
Voting Board Members
9
Independent Board Members
9
Employees
7

Preparer

Firm
Crace CPA LLC
Address
9763 WESTPOINT DRIVE, INDIANAPOLIS, IN 46256
Preparer
Jason L Crace CPA
Phone
3179913322
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0851969
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IRS990ScheduleD/ExpensesSubtotalAmt01888853
IRS990ScheduleD/LandGrp/BookValueAmt0286483
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0286483
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt139274
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt218315
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2OTHER RESERVES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt032833
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT
IRS990ScheduleD/RevenueSubtotalAmt01615824
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0838307
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0488460
IRS990ScheduleD/TotalExpensesPerForm990Amt01888853
IRS990ScheduleD/TotalLiabilityAmt032833
IRS990ScheduleD/TotalRevenuePerForm990Amt01615824
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01615824
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01888853
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW HAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION REVIEWS COMPARABLE PAY FOR SIMILAR POSITIONS WITHIN THE INDUSTRY BASED UPON EXPERIENCE AND LOCATIONS, IN ORDER TO ACCURATELY CALCULATE REASONABLE PAY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION REVIEWS COMPARABLE PAY FOR SIMILAR POSITIONS WITHIN THE INDUSTRY BASED UPON EXPERIENCE AND LOCATIONS, IN ORDER TO ACCURATELY CALCULATE REASONABLE PAY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INFORMATION IS AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt01980575
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IRS990/TotalEmployeeCnt07
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0535697
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01353156
IRS990/TotalFunctionalExpensesGrp/TotalAmt01888853
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02323961
IRS990/TotalLiabilitiesEOYAmt02226845
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IRS990/TotalLiabilitiesGrp/EOYAmt02226845
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LC DEMON CAREY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-01-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TANNER TERRACE INC
ReturnHeader/Filer/BusinessNameControlTxt0TANN
ReturnHeader/Filer/EIN0860344610
ReturnHeader/Filer/USAddress/AddressLine1Txt0700 E JEFFERSON STREET SUITE 230
ReturnHeader/Filer/USAddress/CityNm0PHOENIX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AZ
ReturnHeader/Filer/USAddress/ZIPCd085034
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0262182951
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRACE CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09763 WESTPOINT DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046256
ReturnHeader/PreparerPersonGrp/PhoneNum03179913322
ReturnHeader/PreparerPersonGrp/PreparationDt02023-01-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JASON L CRACE CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-01-24T11:03:51-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LC DEMON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CAREY
ReturnHeader/TaxPeriodBeginDt02021-10-01
ReturnHeader/TaxPeriodEndDt02022-09-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,610,430
Liabilities
$2,226,845
Net assets
-$616,415
Revenue
$1,615,824
Expenses
$1,888,853
Net income
-$273,029
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.50$1.98$0.48$1.70$1.68$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.46$1.97$0.51$2.52$2.41$0.11
2022Detailed filing. Detailed filing data is available for this year.$1.61$2.23$0.62$1.62$1.89$0.27
2021Detailed filing. Detailed filing data is available for this year.$1.98$2.32$0.34$1.45$1.36$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.53$1.97$0.44$1.44$1.41$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.58$2.00$0.43$1.41$1.39$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.54$2.01$0.47$1.37$1.34$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.57$2.08$0.51$1.35$1.30$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.64$2.20$0.56$1.31$1.25$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.49$2.11$0.62$1.28$1.32$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.98$1.56$0.58$1.25$1.08$0.17
2013Summary only. Only limited summary data is available for this year.$1.06$1.81$0.75$1.22$1.01$0.20
2012Summary only. Only limited summary data is available for this year.$1.09$2.04$0.96$1.19$1.02$0.17
2011Summary only. Only limited summary data is available for this year.$1.08$2.20$1.12$1.24$1.07$0.17