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Summit Apartments INC

Barneveld, WIUnknown exempt organizationEIN 39-1225718Revenue −$188K in FY2022

On file with the IRS106 Arneson Road · Barneveld, WI

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To provide safe, affordable housing to low and moderate income senior citizens, and handicapped and disabled individuals.

75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $91K a year · 86% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$188K
-175% vs prior year
Spent
$119K
To programs
75%
Net assets
$0
By yearFY2020–FY2022
Revenue
−$188K
FY2022▼ -175%
Tap a bar for its year
Revenue by fiscal year
FY2020$253K
FY2021$250K
FY2022−$188K
Expenses
$119K
FY2022▼ -51%
Tap a bar for its year
Expenses by fiscal year
FY2020$229K
FY2021$241K
FY2022$119K
Net assets
$0
FY2022▲ +100%
Tap a bar for its year
Net assets by fiscal year
FY2020−$379K
FY2021−$370K
FY2022$0

From the FY2022 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $90K Management & general 25% · $30K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Peggy Jones
President
$0Pt VII · Sec A
Robert Schaller
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Ralph Kleppe
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Pete Dyreson
Director
$0Pt VII · Sec A
See Summit Apartments INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers safe, affordable housing for seniors and disabled individuals.

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Provided by the organization

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1 program · $90K · in their own filed words · FY2022
01

To provide safe, affordable housing to low and moderate income senior citizens, and handicapped and disabled persons.

$90Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$188K
Ln 12
Fees for servicesLn 2g$116K
Investment incomeLn 3$32
Money outPt IX
$119K
Ln 25
Programscol B$90K
Managementcol C$30K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$116K
Investment incomeLn 3$32
Gains on assetsLn 7−$304K
Total revenueLn 12−$188K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Total assetsLn 16$482K$0
LiabilitiesLn 26$851K$0
Net assetsLn 32−$370K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$28K$712$27K
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$903$903
Office expensesLn 13$1K$1K$6
Information technologyLn 14$1K$1K$238
OccupancyLn 16$67K$67K
Depreciation, depletion and amortizationLn 22$14K$14K
InsuranceLn 23$782$782
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$119K$90K$30K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing −$188K$119K−$307K$0 990 PDF
FY2021 $250K$241K$9K−$370K 990 PDF
FY2020 $253K$229K$25K−$379K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary −$187,948 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $250,355$116,249
I-10 Investment incomePrior year $34−$304,197
I-11 Other revenue$0
I-12 Total revenuePrior year $250,389−$187,948
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $241,051$119,256
I-18 Total expensesPrior year $241,051$119,256
I-19 Revenue less expensesPrior year $9,338−$307,204
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue −$187,948 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $116,249$116,249
VIII-3 Investment incomeExcluded from tax $32$32
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$304,229−$304,229
VIII-12 Total revenueRelated to mission $116,249 · Excluded from tax −$304,197−$187,948
Part IX · Statement of functional expenses $119,256 across 9 lines filed
IX-11a Management feesPrograms $712 · Management $26,942$27,654
IX-11c Accounting feesManagement $2,438$2,438
IX-12 Advertising and promotionPrograms $903$903
IX-13 Office expensesPrograms $1,246 · Management $6$1,252
IX-14 Information technologyPrograms $1,198 · Management $238$1,436
IX-16 OccupancyPrograms $67,283$67,283
IX-22 Depreciation, depletion and amortizationPrograms $13,958$13,958
IX-23 InsurancePrograms $782$782
IX-24 Other expenses (24a–d)Programs $3,550$3,550
IX-25 Total functional expensesPrograms $89,632 · Management $29,624 · Fundraising $0$119,256
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $481,560$0
X-26 Total liabilitiesStart of year $851,494$0
X-32 Total net assets or fund balancesStart of year −$369,934$0
X-33 Total liabilities and net assetsStart of year $481,560$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue−$187,948
XI-2 Total expenses$119,256
XI-3 Revenue less expenses−$307,204
XI-4 Net assets at start of year−$369,934
XI-9 Other changes in net assets$677,138
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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