Civic Intelligence

Proud Ground

990 • Fiscal year 2016 • EIN 93-1290320

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 18, 2017

5288 N InterstatePortland, OR 97217

(503) 493-0293

Siviq Scores

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

Liabilities / Assets

40th percentile

0.14x

Higher debt load relative to assets than 40% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

87th percentile

1.83x

Higher debt load relative to revenue than 87% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

94th percentile

63%

Higher net margin than 94% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

23rd percentile

$104,564

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

74th percentile

9.4%

Faster asset growth than 74% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

-16%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$22,110,624

Up $1,893,858 (+9.4%) from 2015

Net Assets

Up

$18,950,744

Up $1,084,018 (+6.1%) from 2015

Liabilities

Up

$3,159,880

Up $809,840 (+34%) from 2015

Revenue

Down

$1,728,926

Down $338,154 (-16%) from 2015

Expenses

Down

$644,908

Down $91,936 (-12%) from 2015

Net Income

Down

$1,084,018

Down $246,218 (-19%) from 2015

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $9,571,926Liabilities 2010: $1,526,315Net Assets 2010: $8,045,6112010Assets 2011: $11,250,287Liabilities 2011: $2,800,799Net Assets 2011: $8,449,4882011Assets 2012: $16,809,974Liabilities 2012: $2,123,045Net Assets 2012: $14,686,9292012Assets 2013: $18,444,295Liabilities 2013: $2,773,167Net Assets 2013: $15,671,1282013Assets 2014: $19,507,441Liabilities 2014: $2,970,951Net Assets 2014: $16,536,4902014Assets 2015: $20,216,766Liabilities 2015: $2,350,040Net Assets 2015: $17,866,7262015Assets 2016: $22,110,624Liabilities 2016: $3,159,880Net Assets 2016: $18,950,7442016Assets 2017: $22,730,736Liabilities 2017: $2,698,899Net Assets 2017: $20,031,8372017Assets 2018: $24,436,577Liabilities 2018: $3,553,754Net Assets 2018: $20,882,8232018Assets 2019: $27,837,769Liabilities 2019: $3,841,611Net Assets 2019: $23,996,1582019Assets 2020: $31,106,768Liabilities 2020: $2,579,964Net Assets 2020: $28,526,8042020Assets 2021: $36,459,662Liabilities 2021: $2,574,496Net Assets 2021: $33,885,1662021Assets 2022: $41,531,963Liabilities 2022: $2,444,959Net Assets 2022: $39,087,0042022Assets 2023: $54,404,424Liabilities 2023: $6,848,048Net Assets 2023: $47,556,3762023Assets 2024: $68,438,304Liabilities 2024: $11,648,133Net Assets 2024: $56,790,1712024

Highlighted filing

2016

Assets$22,110,624
Liabilities$3,159,880
Net Assets$18,950,744

Operations Trend

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

$15M$10M$5.0M$0Expenses 2010: $535,4192010Expenses 2011: $696,9982011Revenue 2012: $6,997,984Expenses 2012: $787,233Net Income 2012: $6,210,7512012Revenue 2013: $1,715,049Expenses 2013: $730,850Net Income 2013: $984,1992013Revenue 2014: $1,525,855Expenses 2014: $660,493Net Income 2014: $865,3622014Revenue 2015: $2,067,080Expenses 2015: $736,844Net Income 2015: $1,330,2362015Revenue 2016: $1,728,926Expenses 2016: $644,908Net Income 2016: $1,084,0182016Revenue 2017: $1,845,679Expenses 2017: $764,586Net Income 2017: $1,081,0932017Revenue 2018: $1,734,668Expenses 2018: $883,682Net Income 2018: $850,9862018Revenue 2019: $4,107,785Expenses 2019: $994,450Net Income 2019: $3,113,3352019Revenue 2020: $6,974,132Expenses 2020: $2,443,486Net Income 2020: $4,530,6462020Revenue 2021: $6,417,473Expenses 2021: $1,059,111Net Income 2021: $5,358,3622021Revenue 2022: $6,473,930Expenses 2022: $1,272,092Net Income 2022: $5,201,8382022Revenue 2023: $10,403,303Expenses 2023: $1,933,931Net Income 2023: $8,469,3722023Revenue 2024: $11,431,464Expenses 2024: $2,197,669Net Income 2024: $9,233,7952024

Highlighted filing

2016

Revenue$1,728,926
Expenses$644,908
Net Income$1,084,018
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 18, 2017
Return Version
2016v3.0
Gross Receipts
$1,728,926
Mission and Program Overview

Mission

Provide permanently affordable home ownership opportunities using the land trust model, under which proud ground administers subsidy funds to buy down the purchase price of homes. Resale provisions ensure homes' permanent affordability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$17,100,637$18,138,525▲ $1,037,888
Cash and Non-Interest-Bearing Accounts$1,211,360$829,501▼ $381,859
Accounts Receivable$71,200$51,762▼ $19,438
Pledges and Grants Receivable$66,024$35,389▼ $30,635
Prepaid Expenses and Deferred Charges$9,289$8,484▼ $805
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$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$20,216,766$22,110,624▲ $1,893,858
Other Assets Total$1,758,256$3,046,963▲ $1,288,707
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,661,649$2,529,285▲ $867,636
Unsecured Notes Loans Payable$400,000$400,000→ $0
Other Liabilities$233,972$191,109▼ $42,863
Accounts Payable and Accrued Expenses$36,186$32,197▼ $3,989
Deferred Revenue$18,233$7,289▼ $10,944
Total Liabilities$2,350,040$3,159,880▲ $809,840
Net Assets / Fund Balance
Permanently Rstr Net Assets$17,302,179$18,319,559▲ $1,017,380
Unrestricted Net Assets$502,047$631,185▲ $129,138
Temporarily Rstr Net Assets$62,500--
Total Net Assets Fund Balance$17,866,726$18,950,744▲ $1,084,018
Total Liabilities and Net Assets / Fund Balance$20,216,766$22,110,624▲ $1,893,858

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$11,889$34,950$46,839
Equipment-$28,695$28,695
Land$18,126,636--
Other Assets Org$117,958--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane LinnExecutive DirectorFT$95,900$8,664$104,564

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,239,195
Program Service Revenue
$477,192
Investment Income
$74
Other Revenue
$12,465
All Other Contributions
$351,306
Change in Net Assets
$1,084,018

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Residential2$188,500Appraised Market Val
Total Noncash Contributions2$188,500-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,728,926
Total Revenue per Audited Statements
$1,728,926
Total Revenue per Form 990
$1,728,926
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$464,047
Other Expenses$180,861
Total Fundraising Expense$47,849
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$263,039$5,173$16,367$284,579
Current Officers, Directors, Trustees, and Key Employees$65,875$25,095$13,593$104,563
Fees for Services Other$44,850$3,032$5,467$53,349
Payroll Taxes$34,121$2,974$3,042$40,137
Other Employee Benefits$23,793$986$1,687$26,466
Conferences and Meetings$18,282$3,824$1,468$23,574
Insurance$14,756$409$353$15,518
Office Expenses$10,846$673$1,408$12,927
Interest$12,000--$12,000
Pension Plan Contributions$7,672$152$478$8,302
Depreciation Depletion$3,928$405$350$4,683
Other Expenses$2,590$659$231$3,480
Advertising$1,239$413$731$2,383
All Other Expenses$1,042$632-$1,674
Total Functional Expenses$550,967$46,092$47,849$644,908

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$644,908
Total Expenses per Audited Statements$644,908
Total Expenses per Form 990$644,908
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
Yes
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
Funds Held for Others$191,109
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

Proud ground homeowners are members of the organization. Furthermore, all donors of $25 or more per annum who live or work in the greater portland area are members. Members elect the board of directors. Members must vote on any changes to the articles of incorporation, by-laws, or resale formula; disposal of any property in the portfolio, or dissolution of the organization.

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

Members elect the board of directors.

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

Members must vote on any changes to the articles of incorporation, by-laws, or resale formula; disposal of any property in the portfolio, or dissolution of the organization.

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

The form 990 is reviewed by the fiscal director and the treasurer and discussed either via phone or email, then reviewed by the finance committee prior to filing. Any questions are directed in writing to the cpa.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Board members are asked to disclose any possible conflict of interest prior to the beginning of their board term. In addition, the policy is reviewed annually by the board.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The board has a committee for the purpose of reviewing compensation and surveys other nonprofits for comparability data.

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

Reasonable requests for financial statements and governing documents will be furnished upon request at the office of proud ground.

Filing and Contact Details

Filer

Filer Name
Proud Ground
EIN
93-1290320
Phone
5034930293
Address
5288 N Interstate, Portland, OR 97217

Signing Officer

Name
Diane Linn
Title
Exec. Director
Signed
2017-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Linn
Formed
1999
Legal Domicile
Or
Voting Board Members
9
Independent Board Members
9
Employees
10
Volunteers
45

Preparer

Firm
Kern & Thompson LLC
Address
1800 SW First Avenue Suite 410, Portland, OR 97201
Preparer
Cheryl L Morgan CPA
Phone
5032223338
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IRS990/ActivityOrMissionDesc0PROVIDE PERMANENTLY AFFORDABLE HOME OWNERSHIP OPPORTUNITIES USING THE LAND TRUST MODEL, UNDER WHICH PROUD GROUND ADMINISTERS SUBSIDY FUNDS TO BUY DOWN THE PURCHASE PRICE OF HOMES. RESALE PROVISIONS ENSURE HOMES' PERMANENT AFFORDABILITY.
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IRS990/Desc0HOMEBUYER, HOMEOWNER & OUTREACH SERVICESCommunity Outreach Deliberate research and dialogue resulted in an outreach strategy that has increased the Organizations service to communities of color and strengthened its role in helping to close the minority homeownership gap. The Organization uses a combination of grass roots activities, partnerships, and public relations and marketing strategies in English and Spanish to reach underserved communities with information about the Organizations homeownership program and home buying opportunities. All outreach activities incorporate culturally-competent materials and methods.Home Buyer Education and Counseling A key component of the Organizations programs and services is the intensive, one-on-one education and counseling provided to prospective and active home buyers. NeighborWorks certified staff assist households with all aspects of getting ready in pursuit of homeownership; individual coaching and referral topics include debt reduction; improving credit scores; budgeting; and creating a savings plan.Homebuyer Criteria All of the Organizations homebuyers are required to attend:(1) The Organizations free homeownership orientation class;(2) Homebuying 101 Class, an 8-hour education class provided by a separate, approved organization.These education requirements are in addition to the requirements that homebuyers meet income and other funder-required criteria (e.g., first-time homebuyer status).Post-purchase, Homeowner Support To promote homeowner stability and success, the Organizations homeowners have access to a variety of resources. Post-support services include the offer of home inspections by project management staff, toward home maintenance recommendations; IDA matching grants for approved home repair and maintenance projects and for energy efficiency upgrades; homeowner newsletters and workshops throughout the year; assistance with home loan refinancing and other lender-relation issues.Membership The Organization is a membership organization. Membership is open to anyone who lives or works in the greater Portland area and donates at least $25 a year; all the Organizations homeowners are automatically members. The Organization issues three newsletters per year and one annual report to all members, friends, donors, and other supporters. The Organization also holds an annual meeting each December at which members and others in attendance receive an Organizational update and elect the Board of Directors, unless the election is conducted by mail.Resale of Homes The Organization facilitates the resale of homes on land held in trust to new eligible homeowners. From 1999 to 2016, there have been sixty (60) such sales.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/MissionDesc0PROVIDE PERMANENTLY AFFORDABLE HOME OWNERSHIP OPPORTUNITIES USING THE LAND TRUST MODEL, UNDER WHICH PROUD GROUND ADMINISTERS SUBSIDY FUNDS TO BUY DOWN THE PURCHASE PRICE OF HOMES. RESALE PROVISIONS ENSURE HOMES' PERMANENT AFFORDABILITY.
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IRS990/OtherExpensesGrp/Desc1ACQUISITION & SALES EXPENSES
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IRS990/PrincipalOfficerNm0DIANE LINN
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IRS990/ProgramServiceRevenueGrp/Desc1LEASE FEES
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IRS990/ProgSrvcAccomActy2Grp/Desc0ACQUISITION & PROJECT DEVELOPMENTNew Construction The Organization has partnered with commercial and nonprofit developers to design, finance, and construct homes to sell to income-qualified buyers. The Organization either owns the land or will receive the title to the land when the improvements are sold to a new homeowner. In 2010, condominiums first entered the Organizations portfolio. With condominiums, the Organization holds a deed covenant. From 1999 through the end of 2016, Proud Ground and its partners built 38 single-family residences and 68 residences in multi-family settings that are now occupied by new owners, in addition to Rosemont Court Senior Housing (100 rental apartments for seniors with low income), and the Rosemont Townhomes (18 family rentals).Proud Ground is pursuing the role of lead developer in new construction projects due to opportunities to build more inventory to meet the strategic goals of the organization. Each opportunity for Proud Ground to serve as lead developer in new construction projects will be thoroughly examined as available to determine project feasibility.Buyer-Initiated Grants Often funds are provided from external source/sources to offer home buyers grants with which to go shopping on the open market; the amount of the grant buys down the purchase price of the home. Often the grants come with geographic restrictions and/or require that a portion of the grant be used toward necessary repairs and/or energy efficiency upgrades. All homes purchased with such grants become part of the Organizations portfolio of permanently affordable homes, with Proud Ground receiving title to the land. From 1999 to December 31, 2016, 100 buyer-initiated grants have been administered.Acquisition Rehab Often funds are provided to the LLC to purchase and renovate distressed homes. After full renovation, the homes are offered for sale to income-qualified buyers. Since 1999, fifty-three (53) homes have been acquired, renovated and sold through this program.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.4$11.6$56.8$11.4$2.20$9.23
2023Detailed filing. Detailed filing data is available for this year.$54.4$6.85$47.6$10.4$1.93$8.47
2022Detailed filing. Detailed filing data is available for this year.$41.5$2.44$39.1$6.47$1.27$5.20
2021Detailed filing. Detailed filing data is available for this year.$36.5$2.57$33.9$6.42$1.06$5.36
2020Detailed filing. Detailed filing data is available for this year.$31.1$2.58$28.5$6.97$2.44$4.53
2019Detailed filing. Detailed filing data is available for this year.$27.8$3.84$24.0$4.11$0.99$3.11
2018Detailed filing. Detailed filing data is available for this year.$24.4$3.55$20.9$1.73$0.88$0.85
2017Detailed filing. Detailed filing data is available for this year.$22.7$2.70$20.0$1.85$0.76$1.08
2016Detailed filing. Detailed filing data is available for this year.$22.1$3.16$19.0$1.73$0.64$1.08
2015Detailed filing. Detailed filing data is available for this year.$20.2$2.35$17.9$2.07$0.74$1.33
2014Detailed filing. Detailed filing data is available for this year.$19.5$2.97$16.5$1.53$0.66$0.87
2013Detailed filing. Detailed filing data is available for this year.$18.4$2.77$15.7$1.72$0.73$0.98
2012Summary only. Only limited summary data is available for this year.$16.8$2.12$14.7$7.00$0.79$6.21
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$2.80$8.45$0.70
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.57$1.53$8.05$0.54