Civic Intelligence

Bay Aging Foundation

990 • Fiscal year 2018 • EIN 13-4232354

Oct 01, 2017 to Sep 30, 2018 • Filed on Mar 21, 2019

PO Box 610Urbanna, VA 23175

(804) 758-2386

Siviq Scores

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

Liabilities / Assets

41st percentile

0.01x

Higher debt load relative to assets than 41% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

81st percentile

0.32x

Higher debt load relative to revenue than 81% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

89th percentile

42%

Higher net margin than 89% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

94th percentile

$158,910

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 393.9% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

64th percentile

7.3%

Faster asset growth than 64% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

76th percentile

25%

Faster revenue growth than 76% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$991,575

Up $67,891 (+7.4%) from 2017

Net Assets

Up

$978,704

Up $55,020 (+6.0%) from 2017

Liabilities

Up

$12,871

Up $12,871 from 2017

Revenue

Up

$40,345

Up $8,138 (+25%) from 2017

Expenses

Up

$23,414

Up $13,127 (+128%) from 2017

Net Income

Down

$16,931

Down $4,989 (-23%) from 2017

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $540,926Liabilities 2011: $0Net Assets 2011: $540,9262011Assets 2012: $639,684Liabilities 2012: $0Net Assets 2012: $639,6842012Assets 2013: $737,616Liabilities 2013: $0Net Assets 2013: $737,6162013Assets 2014: $777,464Liabilities 2014: $0Net Assets 2014: $777,4642014Assets 2015: $752,990Liabilities 2015: $0Net Assets 2015: $752,9902015Assets 2016: $816,732Liabilities 2016: $0Net Assets 2016: $816,7322016Assets 2017: $923,684Liabilities 2017: $0Net Assets 2017: $923,6842017Assets 2018: $991,575Liabilities 2018: $12,871Net Assets 2018: $978,7042018Assets 2019: $1,004,338Liabilities 2019: $31,132Net Assets 2019: $973,2062019Assets 2020: $882,619Liabilities 2020: $0Net Assets 2020: $882,6192020Assets 2021: $1,073,274Liabilities 2021: $2,100Net Assets 2021: $1,071,1742021Assets 2022: $894,888Liabilities 2022: $0Net Assets 2022: $894,8882022Assets 2023: $1,061,969Liabilities 2023: $16,216Net Assets 2023: $1,045,7532023Assets 2024: $1,314,105Liabilities 2024: $38,291Net Assets 2024: $1,275,8142024Assets 2025: $1,380,068Liabilities 2025: $83,600Net Assets 2025: $1,296,4682025

Highlighted filing

2018

Assets$991,575
Liabilities$12,871
Net Assets$978,704

Operations Trend

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

$400K$200K$0-$200KExpenses 2011: $8002011Revenue 2012: $2,040Expenses 2012: $25Net Income 2012: $2,0152012Revenue 2013: $1,470Expenses 2013: $2,125Net Income 2013: -$6552013Revenue 2014: $60,073Expenses 2014: $22,125Net Income 2014: $37,9482014Revenue 2015: $72,400Expenses 2015: $17,125Net Income 2015: $55,2752015Revenue 2016: $42,878Expenses 2016: $8,774Net Income 2016: $34,1042016Revenue 2017: $32,207Expenses 2017: $10,287Net Income 2017: $21,9202017Revenue 2018: $40,345Expenses 2018: $23,414Net Income 2018: $16,9312018Revenue 2019: $116,049Expenses 2019: $129,033Net Income 2019: -$12,9842019Revenue 2020: $45,248Expenses 2020: $162,623Net Income 2020: -$117,3752020Revenue 2021: $13,240Expenses 2021: $10,961Net Income 2021: $2,2792021Revenue 2022: -$104,040Expenses 2022: $72,246Net Income 2022: -$176,2862022Revenue 2023: $217,684Expenses 2023: $66,819Net Income 2023: $150,8652023Revenue 2024: $374,906Expenses 2024: $144,845Net Income 2024: $230,0612024Revenue 2025: $200,176Expenses 2025: $179,522Net Income 2025: $20,6542025

Highlighted filing

2018

Revenue$40,345
Expenses$23,414
Net Income$16,931
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Mar 21, 2019
Return Version
2017v2.3
Gross Receipts
$104,213
Mission and Program Overview

Mission

The intent of the foundation is to generate investment income to supplement bay aging revenues and to utilize its funding to assist in the funding of direct services for clients and further support bay aging's mission.

To deliver the programs and services to people of all ages to live independently in their own homes and communities as long as possible.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$897,012$962,783▲ $65,771
Savings and Temporary Cash Investments$17,798$16,570▼ $1,228
Cash and Non-Interest-Bearing Accounts$8,874$12,222▲ $3,348
Total Assets$923,684$991,575▲ $67,891
Liabilities
Accounts Payable and Accrued Expenses-$12,871-
Total Liabilities$0$12,871▲ $12,871
Net Assets / Fund Balance
Unrestricted Net Assets$923,684$978,704▲ $55,020
Total Net Assets Fund Balance$923,684$978,704▲ $55,020
Total Liabilities and Net Assets / Fund Balance$923,684$991,575▲ $67,891
Compensation and Service Providers

Employees

NameTitleOtherTotal
Kathy VesleyPresident/ce$158,910$158,910
Tinsley GoadCFO$149,578$149,578

Board Members and Trustees

NameTitle
Stanley ClarkeChairman
Kathy VesleyPresident/CEO
Karen LewisVice Chairma
Barry L GrossDirector
Belinda JohnsonDirector
Bruce CraigDirector
Charles Adkins EsqDirector
Cynthia TalcottDirector
Ed ClaytonDirector
Gracie TiggleDirector
James Carter JrDirector
Marcia JonesDirector
Maria HarrisDirector
William ReisnerSecretary
Ron SaundersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,350
Program Service Revenue
$0
Investment Income
$35,995
Other Revenue
$0
All Other Contributions
$4,350
Change in Net Assets
$16,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,871
Other Expenses$10,543
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$12,871--$12,871
Fees for Service Investment Mgmnt Fees-$9,518-$9,518
Fees for Services Accounting-$1,000-$1,000
Other Expenses-$25-$25
Total Functional Expenses$12,871$10,543$0$23,414
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Bay AgingUrbanna, VA3Operations$12,871
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
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed by the board finance committee, the board chair (who is also the president and chief executive officer of bay aging) and chief financial officer of bay aging. After this review, the form 990 is provided to the members of the board of directors who review and approve the form 990 prior to its filing.

Form 990, Page 6, Part VI, Line 12C

The members of the board of directors are required to sign a statement each year acknowledging their understanding and agreement to abide by the conflicts of interest policy. In the event a member of the board of directors has a potential conflict of interest, such member is required to recuse themselves from all discussion and voting on the matter.

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

Bay aging foundation does not compensate any of its officers or directors. These individuals are compensated by bay aging, a related organization. The process for determining compensation is completed by bay aging and includes the use of a compensation committee, utilization of an independent compensation consultant, examining of forms 990 of other organizations, using compensation studies or surveys, and approval by the bay aging board of directors and its compensation committee. The bay aging board of directors approves the organization payroll in conjunction with the budget process. Approval of compensation is documented in minutes of the bay aging board of directors meeting minutes. Payroll adjustments are generally made at the aggregate level and are intended to serve as a guideline rather than a cap on compensation. The bay aging president, with input from the staff, authorizes pay rates for all employees. The board of directors must authorize any bonuses or other non-routine pay or benefits for the president and bay aging foundation chair and vice chair.

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

Compensation for key employees is determined in the same manner as compensation is determined for top officials and officers of the organization.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Bay Aging Foundation
EIN
13-4232354
Phone
8047582386
Address
PO BOX 610, URBANNA, VA 23175

Signing Officer

Name
Kathy Vesley
Title
President/CEO
Phone
8047582386
Signed
2019-03-21

Organization Details

Principal Officer
Kathy Vesley
Formed
2002
Legal Domicile
Va
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
15

Preparer

Firm
Robinson Farmer Cox Associates
Address
530 WESTFIELD RD, CHARLOTTESVILLE, VA 22901-1726
Preparer
Kristen L Choate
Phone
4349738314
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IRS990ScheduleA/SupportingOrgType2Ind0X
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IRS990ScheduleI/RecipientTable/CashGrantAmt012871
IRS990ScheduleI/RecipientTable/IRCSectionDesc03
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt011910
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KATHY VESLEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0158910
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE PROCESS FOR DETERMINING COMPENSATION INCLUDES THE USE OF A COMPENSATION COMMITTEE AND AN INDEPENDENT COMPENSATION CONSULTANT, EXAMINING FORMS 990 OF OTHER ORGANIZATIONS, A COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD AND COMPENSATION COMMITTEE. THE BOARD OF DIRECTORS APPROVES ORGANIZATION PAYROLL IN CONJUNCTION WITH THE BUDGET PROCESS. APPROVAL OF COMPENSATION IS DOCUMENTED IN THE BOARD MINUTES. PAYROLL ADJUSTMENTS ARE GENERALLY MADE AT THE AGGREGATE LEVEL AND ARE MEANT TO SERVE AS A GUIDELINE RATHER THAN A CAP. THE PRESIDENT, WITH INPUT FROM STAFF, AUTHORIZES PAY RATES FOR ALL EMPLOYEES. THE BOARD OF DIRECTORS MUST AUTHORIZE ANY BONUSES OR OTHER NON-ROUTINE PAY OR BENEFITS FOR THE PRESIDENT.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PAGE 1, PART I, LINE 3
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE BOARD FINANCE COMMITTEE, THE BOARD CHAIR (WHO IS ALSO THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF BAY AGING) AND CHIEF FINANCIAL OFFICER OF BAY AGING. AFTER THIS REVIEW, THE FORM 990 IS PROVIDED TO THE MEMBERS OF THE BOARD OF DIRECTORS WHO REVIEW AND APPROVE THE FORM 990 PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO SIGN A STATEMENT EACH YEAR ACKNOWLEDGING THEIR UNDERSTANDING AND AGREEMENT TO ABIDE BY THE CONFLICTS OF INTEREST POLICY. IN THE EVENT A MEMBER OF THE BOARD OF DIRECTORS HAS A POTENTIAL CONFLICT OF INTEREST, SUCH MEMBER IS REQUIRED TO RECUSE THEMSELVES FROM ALL DISCUSSION AND VOTING ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BAY AGING FOUNDATION DOES NOT COMPENSATE ANY OF ITS OFFICERS OR DIRECTORS. THESE INDIVIDUALS ARE COMPENSATED BY BAY AGING, A RELATED ORGANIZATION. THE PROCESS FOR DETERMINING COMPENSATION IS COMPLETED BY BAY AGING AND INCLUDES THE USE OF A COMPENSATION COMMITTEE, UTILIZATION OF AN INDEPENDENT COMPENSATION CONSULTANT, EXAMINING OF FORMS 990 OF OTHER ORGANIZATIONS, USING COMPENSATION STUDIES OR SURVEYS, AND APPROVAL BY THE BAY AGING BOARD OF DIRECTORS AND ITS COMPENSATION COMMITTEE. THE BAY AGING BOARD OF DIRECTORS APPROVES THE ORGANIZATION PAYROLL IN CONJUNCTION WITH THE BUDGET PROCESS. APPROVAL OF COMPENSATION IS DOCUMENTED IN MINUTES OF THE BAY AGING BOARD OF DIRECTORS MEETING MINUTES. PAYROLL ADJUSTMENTS ARE GENERALLY MADE AT THE AGGREGATE LEVEL AND ARE INTENDED TO SERVE AS A GUIDELINE RATHER THAN A CAP ON COMPENSATION. THE BAY AGING PRESIDENT, WITH INPUT FROM THE STAFF, AUTHORIZES PAY RATES FOR ALL EMPLOYEES. THE BOARD OF DIRECTORS MUST AUTHORIZE ANY BONUSES OR OTHER NON-ROUTINE PAY OR BENEFITS FOR THE PRESIDENT AND BAY AGING FOUNDATION CHAIR AND VICE CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION FOR KEY EMPLOYEES IS DETERMINED IN THE SAME MANNER AS COMPENSATION IS DETERMINED FOR TOP OFFICIALS AND OFFICERS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalContributionsAmt04350
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt012871
IRS990/TotalFunctionalExpensesGrp/TotalAmt023414
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt012871
IRS990/TotalLiabilitiesGrp/BOYAmt00
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IRS990/TotalOtherCompensationAmt021233
IRS990/TotalProgramServiceExpensesAmt012871
IRS990/TotalRevenueGrp/ExclusionAmt035995
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt040345
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0991575
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0923684
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0978704
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0WWW.BAYAGING.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KATHY VESLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum08047582386
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BAY AGING FOUNDATION
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ReturnHeader/Filer/EIN0134232354
ReturnHeader/Filer/PhoneNum08047582386
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.77.77.25
ReturnHeader/FilingSecurityInformation/IPDt02019-03-29
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm012:39:53
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541896113
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROBINSON FARMER COX ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0530 WESTFIELD RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTESVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.38$0.08$1.30$0.20$0.18$0.02
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$0.04$1.28$0.37$0.14$0.23
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.02$1.05$0.22$0.07$0.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.00$0.89$0.10$0.07$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.07$0.00$1.07$0.01$0.01$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.88$0.00$0.88$0.05$0.16$0.12
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.03$0.97$0.12$0.13$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.99$0.01$0.98$0.04$0.02$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.92$0.00$0.92$0.03$0.01$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.04$0.01$0.03
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.00$0.75$0.07$0.02$0.06
2014Summary only. Only limited summary data is available for this year.$0.78$0.00$0.78$0.06$0.02$0.04
2013Summary only. Only limited summary data is available for this year.$0.74$0.00$0.74$0.00$0.00$0.00
2012Summary only. Only limited summary data is available for this year.$0.64$0.00$0.64$0.00$0.00$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.00$0.54$0.00