Civic Intelligence

St Peter Manor LLC

990 • Fiscal year 2018 • EIN 16-1729616

Oct 01, 2017 to Sep 30, 2018 • Filed on Aug 14, 2019

1615 Appling RoadCordova, TN 38016

(901) 380-4900

Siviq Scores

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

Liabilities / Assets

98th percentile

1.84x

Higher debt load relative to assets than 98% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

91st percentile

2.14x

Higher debt load relative to revenue than 91% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

49th percentile

2.8%

Higher net margin than 49% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

39th percentile

-1.5%

Faster asset growth than 39% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

35th percentile

-1.6%

Faster revenue growth than 35% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$2,875,270

Down $42,389 (-1.5%) from 2017

Net Assets

Up

-$2,424,481

Up $70,191 (+2.8%) from 2017

Liabilities

Down

$5,299,751

Down $112,580 (-2.1%) from 2017

Revenue

Down

$2,479,533

Down $39,325 (-1.6%) from 2017

Expenses

Up

$2,409,342

Up $71,314 (+3.1%) from 2017

Net Income

Down

$70,191

Down $110,639 (-61%) from 2017

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2011: $3,353,094Liabilities 2011: $6,244,012Net Assets 2011: -$2,890,9182011Assets 2012: $3,179,259Liabilities 2012: $5,927,791Net Assets 2012: -$2,748,5322012Assets 2013: $3,135,210Liabilities 2013: $5,911,909Net Assets 2013: -$2,776,6992013Assets 2014: $2,917,632Liabilities 2014: $5,738,447Net Assets 2014: -$2,820,8152014Assets 2015: $2,881,072Liabilities 2015: $5,649,415Net Assets 2015: -$2,768,3432015Assets 2016: $2,967,119Liabilities 2016: $5,642,621Net Assets 2016: -$2,675,5022016Assets 2017: $2,917,659Liabilities 2017: $5,412,331Net Assets 2017: -$2,494,6722017Assets 2018: $2,875,270Liabilities 2018: $5,299,751Net Assets 2018: -$2,424,4812018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2018

Assets$2,875,270
Liabilities$5,299,751
Net Assets-$2,424,481

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $2,336,4982011Expenses 2012: $2,165,6222012Expenses 2013: $2,040,6252013Revenue 2014: $2,524,220Expenses 2014: $2,568,336Net Income 2014: -$44,1162014Revenue 2015: $2,363,802Expenses 2015: $2,311,330Net Income 2015: $52,4722015Revenue 2016: $2,325,738Expenses 2016: $2,232,897Net Income 2016: $92,8412016Revenue 2017: $2,518,858Expenses 2017: $2,338,028Net Income 2017: $180,8302017Revenue 2018: $2,479,533Expenses 2018: $2,409,342Net Income 2018: $70,1912018Revenue 2019: $6,787,059Expenses 2019: $4,362,578Net Income 2019: $2,424,4812019

Highlighted filing

2018

Revenue$2,479,533
Expenses$2,409,342
Net Income$70,191
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Aug 14, 2019
Return Version
2017v2.3
Gross Receipts
$2,479,533
Mission and Program Overview

Mission

Housing for low-income elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,883,505$1,680,719▼ $202,786
Intangible Assets$129,030$123,480▼ $5,550
Accounts Receivable$65,810$120,500▲ $54,690
Cash and Non-Interest-Bearing Accounts$152,502$107,735▼ $44,767
Prepaid Expenses and Deferred Charges$21,334$11,924▼ $9,410
Total Assets$2,917,659$2,875,270▼ $42,389
Other Assets Total$665,478$830,912▲ $165,434
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,048,683$4,912,685▼ $135,998
Accounts Payable and Accrued Expenses$277,232$300,413▲ $23,181
Other Liabilities$86,416$86,653▲ $237
Total Liabilities$5,412,331$5,299,751▼ $112,580
Net Assets / Fund Balance
Unrestricted Net Assets$-2,494,672$-2,424,481▲ $70,191
Total Net Assets Fund Balance$-2,494,672$-2,424,481▲ $70,191
Total Liabilities and Net Assets / Fund Balance$2,917,659$2,875,270▼ $42,389

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,171,548$8,552,235$9,723,783
Equipment$221,438$673,660$895,098
Land$287,733-$287,733
Other Assets Org$208,420--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Wallace McalexanderPresident
Scott BlountVice President
Amanda WardBoard Member
Dr Cynthia DavisBoard Member
Dwight DavisBoard Member
Eddie SmithBoard Member
Nancy AlbonettiBoard Member
Rev Andrew ThompsonBoard Member
William KeithBoard Member
James NassoNon-voting CEO
Donald OllioNon-voting CFO
Ronald BudynasNon-voting COO
Mary Lou CushingSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Welsey Housing Corporation Of Memphis IManagement And Bookkeeping Fees1615 APPLING RD, Cordova, TN 38016$172,505
Higgins Electric LLCBack Up Generator And Installation2271 PODESTA COVE, Memphis, TN 38134$108,111
Clarion Security LLCSecurity Patrol5496 POPLAR AVE 3, Memphis, TN 38119$101,751
Revenue and Support

Revenue Composition

Contributions and Grants
$1,381,051
Program Service Revenue
$1,016,836
Investment Income
$1,885
Other Revenue
$79,761
Change in Net Assets
$70,191

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,479,533
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,479,533
Total Revenue per Form 990
$2,479,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,118,576
Salaries, Compensation, and Employee Benefits$290,766
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$1,244,739--$1,244,739
Depreciation Depletion$365,533--$365,533
Other Salaries and Wages$222,947--$222,947
Fees for Services Management-$139,707-$139,707
Other Employee Benefits$43,690--$43,690
Office Expenses-$41,938-$41,938
Fees for Services Accounting-$35,038-$35,038
Payroll Taxes$20,660--$20,660
All Other Expenses$8,126--$8,126
Conferences and Meetings$7,615--$7,615
Fees for Services Legal-$5,049-$5,049
Pension Plan Contributions$3,469--$3,469
Fees for Services Other$3,000--$3,000
Other Expenses$2,866--$2,866
Advertising$1,895--$1,895
Total Functional Expenses$2,187,610$221,732$0$2,409,342

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,409,342
Total Expenses per Audited Statements$2,409,342
Total Expenses per Form 990$2,409,342
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Deposits$86,653
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
Yes
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
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

St. Peter manor, llc is managed by wesley housing corporation of memphis, inc., a professional property management company. Wesley housing corporation of memphis, inc. Has a project owner's and management agent's certification for multifamily housing projects with the us department of housing and urban development. Under this certification, hud has approved wesley housing corporation of memphis, inc. To manage the wesley at martin, inc. Apartment community. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.

Form 990, Part VI, Section A, Line 4

The charter and bylaws were amended to eliminate the three different classes of directors, standardizing and naming of a nomination committee and changing the annual meeting to be held in the last quarter of the year.

Form 990, Part VI, Section A, Line 6

Diocese of memphis housing corporation is the sole managing member of st. Peter manor, llc. The board members listed for st. Peter manor, llc are those of the sole managing member.

Form 990, Part VI, Section A, Line 7A

Diocese of memphis housing corporation is the sole managing member of st. Peter manor, llc.

Form 990, Part VI, Section A, Line 7B

Diocese of memphis housing corporation is the sole managing member of st. Peter manor, llc.

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

A copy of the form 990 is reviewed by an officer of the organization prior to filing.

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

Review the policy on an annual basis with the board of directors to make sure that everyone is in compliance.

Form 990, Part VI, Section B, Line 15

The compensation of all employees is determined through the approval of the budget.

Form 990, Part VI, Section C, Line 19

Information is available through www.guidestar.org or upon request.

FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B:

Hours worked for related organizations: all of the officers, directors, and employees listed in part vii, section a perform similar duties and have similar responsibilities for related organizations as they do for this organization. Their total hours worked per week for this organization are similar to their hours worked for related organizations both in terms of number of hours and type of work performed.

Filing and Contact Details

Filer

Filer Name
St Peter Manor LLC
EIN
16-1729616
Phone
9013804900
Address
1615 APPLING ROAD, CORDOVA, TN 38016

Signing Officer

Name
Don Ollio
Title
CFO
Phone
9013804900
Signed
2019-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald D Ollio Jr
Formed
1978
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer
Abby Shafer
Phone
3178485700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

Oversight of auditing function: an audit committee reviews the audit results and selection of the auditing firm through a periodic competitive bidding process.

Financial Statement Notes

PART X, LINE 2:

The corporation is exempt from federal income tax under section 501(c)(3) of the internal revenue code and state income tax and has been classified as an other than private foundation. Accordingly, no provision for federal and state taxes on revenue and income has been recognized in the accompanying financial statements. Generally, the federal and state tax returns were subject to examinations from the three years after the later of the original or extended due date or the date filed by the applicable tax authority.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10NON-VOTING CEO
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