Civic Intelligence

St Mary Manor LLC

990 • Fiscal year 2020 • EIN 20-3315692

Oct 01, 2019 to Sep 30, 2020 • Filed on Aug 12, 2021

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

1.85x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

92nd percentile

2.71x

Higher debt load relative to revenue than 92% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

45th percentile

2.9%

Higher net margin than 45% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

20th percentile

-3.0%

Faster asset growth than 20% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

56th percentile

4.0%

Faster revenue growth than 56% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$2,146,417

Down $66,685 (-3.0%) from 2019

Net Assets

Up

-$1,821,747

Up $42,395 (+2.3%) from 2019

Liabilities

Down

$3,968,164

Down $109,080 (-2.7%) from 2019

Revenue

Up

$1,462,581

Up $56,726 (+4.0%) from 2019

Expenses

Down

$1,420,186

Down $19,607 (-1.4%) from 2019

Net Income

Up

$42,395

Up $76,333 (+225%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $3,042,225Liabilities 2011: $4,883,590Net Assets 2011: -$1,841,3652011Assets 2012: $2,888,967Liabilities 2012: $4,691,777Net Assets 2012: -$1,802,8102012Assets 2013: $2,751,492Liabilities 2013: $4,632,762Net Assets 2013: -$1,881,2702013Assets 2014: $2,641,814Liabilities 2014: $4,552,037Net Assets 2014: -$1,910,2232014Assets 2015: $2,569,054Liabilities 2015: $4,444,175Net Assets 2015: -$1,875,1212015Assets 2016: $2,693,120Liabilities 2016: $4,465,273Net Assets 2016: -$1,772,1532016Assets 2017: $2,547,571Liabilities 2017: $4,316,486Net Assets 2017: -$1,768,9152017Assets 2018: $2,398,220Liabilities 2018: $4,228,424Net Assets 2018: -$1,830,2042018Assets 2019: $2,213,102Liabilities 2019: $4,077,244Net Assets 2019: -$1,864,1422019Assets 2020: $2,146,417Liabilities 2020: $3,968,164Net Assets 2020: -$1,821,7472020Assets 2021: $2,233,846Liabilities 2021: $3,944,636Net Assets 2021: -$1,710,7902021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2020

Assets$2,146,417
Liabilities$3,968,164
Net Assets-$1,821,747

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: $1,403,6292011Expenses 2012: $1,260,0592012Expenses 2013: $1,220,5452013Revenue 2014: $1,300,567Expenses 2014: $1,329,520Net Income 2014: -$28,9532014Revenue 2015: $1,293,128Expenses 2015: $1,258,026Net Income 2015: $35,1022015Revenue 2016: $1,356,253Expenses 2016: $1,253,285Net Income 2016: $102,9682016Revenue 2017: $1,325,324Expenses 2017: $1,322,086Net Income 2017: $3,2382017Revenue 2018: $1,404,916Expenses 2018: $1,466,205Net Income 2018: -$61,2892018Revenue 2019: $1,405,855Expenses 2019: $1,439,793Net Income 2019: -$33,9382019Revenue 2020: $1,462,581Expenses 2020: $1,420,186Net Income 2020: $42,3952020Revenue 2021: $1,470,112Expenses 2021: $1,359,155Net Income 2021: $110,9572021Revenue 2022: $6,304,681Expenses 2022: $4,593,891Net Income 2022: $1,710,7902022

Highlighted filing

2020

Revenue$1,462,581
Expenses$1,420,186
Net Income$42,395
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Aug 12, 2021
Return Version
2019v5.2
Gross Receipts
$1,462,581
Mission and Program Overview

Mission

Housing for low-income elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,455,930$1,285,303▼ $170,627
Intangible Assets$97,054$92,487▼ $4,567
Cash and Non-Interest-Bearing Accounts$33,968$38,803▲ $4,835
Accounts Receivable$11,004$20,182▲ $9,178
Prepaid Expenses and Deferred Charges$13,606$5,753▼ $7,853
Total Assets$2,213,102$2,146,417▼ $66,685
Other Assets Total$601,540$703,889▲ $102,349
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,821,103$3,702,172▼ $118,931
Accounts Payable and Accrued Expenses$209,327$220,517▲ $11,190
Other Liabilities$46,814$45,475▼ $1,339
Total Liabilities$4,077,244$3,968,164▼ $109,080
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,864,142$-1,821,747▲ $42,395
Total Net Assets Fund Balance$-1,864,142$-1,821,747▲ $42,395
Total Liabilities and Net Assets / Fund Balance$2,213,102$2,146,417▼ $66,685

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,047,225$7,166,703$8,213,928
Equipment$74,078$442,056$516,134
Land$164,000-$164,000
Other Assets Org$451--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Scott BlountChairperson
Rev Andrew ThompsonVice Chairperson
Amanda WardBoard Member
Dr Cynthia DavisBoard Member
Dwight DavisBoard Member
Eddie SmithBoard Member
Holly MitchenerBoard Member
Nancy AlbonettiBoard Member
Rebecca FloydBoard Member
Rev Jeff RudyBoard Member
Wallace McalexanderBoard Member
William KeithBoard Member
James NassoNon-voting CEO
Donald OllioNon-voting CFO
Ronald BudynasNon-voting COO
Mary Lou CushingSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Wesley Housing Corporation Of Memphis IManagement Fees And Bookkeeping Fees1615 APPLING ROAD, Cordova, TN 38016$106,567
Revenue and Support

Revenue Composition

Contributions and Grants
$866,765
Program Service Revenue
$595,562
Investment Income
$254
Other Revenue
$0
Change in Net Assets
$42,395

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,462,581
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,462,581
Total Revenue per Form 990
$1,462,581
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,151,700
Salaries, Compensation, and Employee Benefits$268,486
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$682,506--$682,506
Depreciation Depletion$261,453--$261,453
Other Salaries and Wages$217,858--$217,858
Fees for Services Management-$92,132-$92,132
Office Expenses-$38,751-$38,751
Other Expenses$35,613--$35,613
Other Employee Benefits$34,258--$34,258
Fees for Services Accounting-$22,745-$22,745
Information Technology-$13,842-$13,842
Payroll Taxes$12,665--$12,665
Pension Plan Contributions$3,705--$3,705
Conferences and Meetings-$2,949-$2,949
Travel-$1,056-$1,056
Advertising-$653-$653
Total Functional Expenses$1,248,058$172,128$0$1,420,186

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,420,186
Total Expenses per Audited Statements$1,420,186
Total Expenses per Form 990$1,420,186
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$45,475
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 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
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

St. Mary 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 st. Mary manor, llc 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 6

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

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

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

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

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

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 Mary Manor LLC
EIN
20-3315692
Phone
9013804900
Address
1615 APPLING ROAD, CORDOVA, TN 38016

Signing Officer

Name
Don Ollio
Title
CFO
Phone
9013804900
Signed
2021-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald D Ollio Jr
Formed
1980
Legal Domicile
Tn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer
Heather L Plake
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 teh later of the original or extended due date or the date filed by the applicable tax authority.

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