Civic Intelligence

Riverton Community Housing

990 • Fiscal year 2015 • EIN 23-7259966

Jul 01, 2014 to Jun 30, 2015 • Filed on Jan 15, 2016

Organization ProfileWWW.RIVERTON.ORG
425 13th Ave SEMinneapolis, MN 55414-2065

(612) 331-3911

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.00x

Higher debt load relative to assets than 93% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

97th percentile

10.12x

Higher debt load relative to revenue than 97% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

9th percentile

-18%

Higher net margin than 9% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

19th percentile

$137,564

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

89th percentile

25%

Faster asset growth than 89% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$31,540,142

Up $11,403,318 (+57%) from 2013

Net Assets

Down

$30,801

Down $243,828 (-89%) from 2013

Liabilities

Up

$31,509,341

Up $11,647,146 (+59%) from 2013

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin9th percentile

Revenue

$3,114,933

No earlier filing loaded for comparison.

Expenses

Up

$3,678,686

Up $1,667,894 (+83%) from 2013

Net Income

-$563,753

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

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

$60M$40M$20M$0-$20MAssets 2010: $31,425,896Liabilities 2010: $31,705,946Net Assets 2010: -$280,0502010Assets 2011: $20,316,551Liabilities 2011: $20,402,417Net Assets 2011: -$85,8662011Assets 2012: $20,278,784Liabilities 2012: $20,204,974Net Assets 2012: $73,8102012Assets 2013: $20,136,824Liabilities 2013: $19,862,195Net Assets 2013: $274,6292013Assets 2015: $31,540,142Liabilities 2015: $31,509,341Net Assets 2015: $30,8012015Assets 2016: $31,527,601Liabilities 2016: $31,027,931Net Assets 2016: $499,6702016Assets 2017: $32,288,194Liabilities 2017: $30,621,930Net Assets 2017: $1,666,2642017Assets 2018: $51,838,736Liabilities 2018: $49,600,423Net Assets 2018: $2,238,3132018Assets 2019: $52,315,009Liabilities 2019: $49,988,201Net Assets 2019: $2,326,8082019Assets 2020: $52,152,152Liabilities 2020: $49,270,505Net Assets 2020: $2,881,6472020Assets 2021: $52,771,886Liabilities 2021: $48,845,535Net Assets 2021: $3,926,3512021Assets 2022: $51,048,944Liabilities 2022: $46,716,398Net Assets 2022: $4,332,5462022Assets 2023: $50,682,600Liabilities 2023: $46,368,411Net Assets 2023: $4,314,1892023Assets 2024: $48,131,968Liabilities 2024: $43,929,906Net Assets 2024: $4,202,0622024

Highlighted filing

2015

Assets$31,540,142
Liabilities$31,509,341
Net Assets$30,801
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,913,3672010Expenses 2011: $2,131,2262011Expenses 2012: $2,053,5312012Expenses 2013: $2,010,7922013Revenue 2015: $3,114,933Expenses 2015: $3,678,686Net Income 2015: -$563,7532015Revenue 2016: $4,086,374Expenses 2016: $3,613,416Net Income 2016: $472,9582016Revenue 2017: $4,981,466Expenses 2017: $3,795,669Net Income 2017: $1,185,7972017Revenue 2018: $4,591,879Expenses 2018: $3,959,476Net Income 2018: $632,4032018Revenue 2019: $5,045,570Expenses 2019: $5,022,775Net Income 2019: $22,7952019Revenue 2020: $6,167,785Expenses 2020: $5,657,547Net Income 2020: $510,2382020Revenue 2021: $6,521,205Expenses 2021: $5,445,730Net Income 2021: $1,075,4752021Revenue 2022: $6,168,719Expenses 2022: $5,840,454Net Income 2022: $328,2652022Revenue 2023: $6,444,149Expenses 2023: $6,504,938Net Income 2023: -$60,7892023Revenue 2024: $6,506,785Expenses 2024: $6,169,266Net Income 2024: $337,5192024

Highlighted filing

2015

Revenue$3,114,933
Expenses$3,678,686
Net Income-$563,753
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jan 15, 2016
Return Version
2014v6.0
Gross Receipts
$3,114,933
Mission and Program Overview

Mission

To develop and maintain quality, student-oriented housing communities operating on a non-profit, democratic basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,660,872$13,440,099▼ $220,773
Cash and Non-Interest-Bearing Accounts$1,983,619$1,365,545▼ $618,074
Intangible Assets$849,163$1,094,530▲ $245,367
Accounts Receivable$297,622$320,726▲ $23,104
Other Notes and Loans Receivable, Net$60,376$60,000▼ $376
Rtn Earn Endowment Incm Other Fnds$595,029$30,801▼ $564,228
Prepaid Expenses and Deferred Charges$24,613$29,579▲ $4,966
Total Assets$20,119,797$31,540,142▲ $11,420,345
Other Assets Total$3,243,532$15,229,663▲ $11,986,131
Liabilities
Tax Exempt Bond Liabilities$18,900,000$30,580,000▲ $11,680,000
Accounts Payable and Accrued Expenses$571,506$861,627▲ $290,121
Other Liabilities$53,262$67,714▲ $14,452
Total Liabilities$19,524,768$31,509,341▲ $11,984,573
Net Assets / Fund Balance
Total Net Assets Fund Balance$595,029$30,801▼ $564,228
Total Liabilities and Net Assets / Fund Balance$20,119,797$31,540,142▲ $11,420,345

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,821,768$8,607,856$16,429,624
Other Land Buildings$3,209,829$1,564,767$4,774,596
Land$2,398,729-$2,398,729
Equipment$9,773$42,492$52,265
Other Assets Org$583,134--
Compensation and Service Providers
Top Officer Pay19th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Gary EllisExecutive DiFT$137,564$137,564

Board Members and Trustees

NameTitle
Jaren JohnsonPresident
Alyssa BraatenBoard Member
Brian CihacekBoard Member
Eric AndersonBoard Member
Jason SchmuckBoard Member
Kevin JewettBoard Member
Lynae GiesekeBoard Member
Michael CopaBoard Member
Michael ShepardBoard Member
Neil KolatkarBoard Member
Peter KimBoard Member
Scott GrahamBoard Member
Tom PiersonBoard Member
Brian DusbiberSecretary
Rachel RiceTreasurer
Molly RutzickVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,040,184
Investment Income
$22,540
Other Revenue
$52,209
Change in Net Assets
$-563,753

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,114,933
Revenue Not Reported on Form 990
$-475
Total Revenue per Audited Statements
$3,114,458
Total Revenue per Form 990
$3,114,933
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,799,325
Salaries, Compensation, and Employee Benefits$879,361
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,231,662--$1,231,662
Depreciation Depletion$1,062,963--$1,062,963
Comp Disqual Persons$566,476--$566,476
Fees for Services Other$15,263$148,409-$163,672
Current Officers, Directors, Trustees, and Key Employees$68,782$68,782-$137,564
Occupancy$104,820--$104,820
Other Employee Benefits$66,170$7,352-$73,522
Payroll Taxes$65,887$5,503-$71,390
Pension Plan Contributions$27,368$3,041-$30,409
All Other Expenses$3,803$5,812-$9,615
Other Expenses$8,920$9,778-$8,920
Office Expenses$363$6,903-$7,266
Fees for Services Accounting$3,300$2,200-$5,500
Advertising-$4,829-$4,829
Conferences and Meetings$925$925-$1,850
Travel$33$619-$652
Fees for Services Legal$75$50-$125
Total Functional Expenses$3,414,483$264,203$0$3,678,686

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,678,686
Total Expenses per Audited Statements$3,678,686
Total Expenses per Form 990$3,678,686
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
Other Liabilities$67,714

Bond Issues

BondIssuerIssuedIssue PricePurpose
BCity of Minneapolis Series 20142014-08-21$24,435,000-
ACity of Minneapolis2003-10-28$7,200,000TO BUILD STUDENT HOUSING

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----
B----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The treasurer of the board of directors reviews and approves the form 990, and presents his actions to the board of directors.”

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

“The conflict of interest policy is discussed and reaffirmed annually as part of the board's annual meeting.”

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

“The executive director poition is reviewed annually by a committee of the board. Input is solicited from a variety of board members, coop members, other staff and significant stakeholders. The salary range was established with the assistance of an outside consultant and is adjusted annually to reflect salary survey data for comparable executive/management positions in the minneapolis/st. Paul area based on the most recent bls (bureau of labor statistics) national compensation survey.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Riverton Community Housing
EIN
23-7259966
Phone
6123313911
Address
425 13TH AVE SE, MINNEAPOLIS, MN 55414-2065

Signing Officer

Name
Gary Ellis
Title
Executive Director
Phone
6123313911
Signed
2016-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Ellis
Formed
1972
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
21
Volunteers
16

Preparer

Firm
Boyum & Barenscheer Pllp
Address
3050 METRO DR STE 200, MINNEAPOLIS, MN 55425-1547
Preparer
Joseph a Rusche
Phone
9528544244
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
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IRS990/MethodOfAccountingAccrualInd0X
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IRS990/OccupancyGrp/TotalAmt0104820
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt06903
IRS990/OfficeExpensesGrp/ProgramServicesAmt0363
IRS990/OfficeExpensesGrp/TotalAmt07266
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03243532
IRS990/OtherAssetsTotalGrp/EOYAmt015229663
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt07352
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt066170
IRS990/OtherEmployeeBenefitsGrp/TotalAmt073522
IRS990/OtherExpensesGrp/Desc0COLE OPERATING EXPENSES
IRS990/OtherExpensesGrp/Desc1ADMINISTRATIVE FEES
IRS990/OtherExpensesGrp/Desc2CONSULTANTS
IRS990/OtherExpensesGrp/Desc3BUILDING REPAIRS & MAINT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt09778
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IRS990/OtherExpensesGrp/ProgramServicesAmt124684
IRS990/OtherExpensesGrp/ProgramServicesAmt28920
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IRS990/OtherExpensesGrp/TotalAmt124684
IRS990/OtherExpensesGrp/TotalAmt29778
IRS990/OtherExpensesGrp/TotalAmt38920
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IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt060000
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05503
IRS990/PayrollTaxesGrp/ProgramServicesAmt065887
IRS990/PayrollTaxesGrp/TotalAmt071390
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03041
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt027368
IRS990/PensionPlanContributionsGrp/TotalAmt030409
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt024613
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt029579
IRS990/PrincipalOfficerNm0GARY ELLIS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEES
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IRS990/ProgramServiceRevenueGrp/Desc2CHATEAU STUDENT HOUSING, MI
IRS990/ProgramServiceRevenueGrp/Desc3COLE TOWNHOMES, MINNEAPOLIS
IRS990/ProgramServiceRevenueGrp/Desc4MARCY PARK STUDENT HOUSING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0869133
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1667779
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2622583
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3614985
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3614985
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4190017
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt050862
IRS990/PYOtherExpensesAmt02046614
IRS990/PYOtherRevenueAmt046829
IRS990/PYProgramServiceRevenueAmt03093314
IRS990/PYRevenuesLessExpensesAmt0314602
IRS990/PYSalariesCompEmpBnftPaidAmt0829789
IRS990/PYTotalExpensesAmt02876403
IRS990/PYTotalRevenueAmt03191005
IRS990/ReconcilationRevenueExpnssAmt0-563753
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt050200
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0595029
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt030801
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt022540
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt050862
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0-7421
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt026117
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt042163
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt03092393
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt03140143
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03079343
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt03071592
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03092069
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt015475540
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt022540
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt050862
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IRS990ScheduleA/InvestmentIncomePYPct00.01000
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt015609801
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt08607856
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt016429624
IRS990ScheduleD/EquipmentGrp/BookValueAmt09773
IRS990ScheduleD/EquipmentGrp/DepreciationAmt042492
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt052265
IRS990ScheduleD/ExpensesSubtotalAmt03678686
IRS990ScheduleD/LandGrp/BookValueAmt02398729
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02398729
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt16258800
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2583134
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESTRICTED DEPOSITS AND RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2INVESTMENTS
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01564767
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt04774596
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt067714

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,540,142
Liabilities
$31,509,341
Net assets
$30,801
Revenue
$3,114,933
Expenses
$3,678,686
Net income
-$563,753
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$48.1$43.9$4.20$6.51$6.17$0.34
2023Detailed filing. Detailed filing data is available for this year.$50.7$46.4$4.31$6.44$6.50$0.06
2022Detailed filing. Detailed filing data is available for this year.$51.0$46.7$4.33$6.17$5.84$0.33
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.8$48.8$3.93$6.52$5.45$1.08
2020Detailed filing. Detailed filing data is available for this year.$52.2$49.3$2.88$6.17$5.66$0.51
2019Detailed filing. Detailed filing data is available for this year.$52.3$50.0$2.33$5.05$5.02$0.02
2018Detailed filing. Detailed filing data is available for this year.$51.8$49.6$2.24$4.59$3.96$0.63
2017Detailed filing. Detailed filing data is available for this year.$32.3$30.6$1.67$4.98$3.80$1.19
2016Detailed filing. Detailed filing data is available for this year.$31.5$31.0$0.50$4.09$3.61$0.47
2015Detailed filing. Detailed filing data is available for this year.$31.5$31.5$0.03$3.11$3.68$0.56
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.1$19.9$0.27$2.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.3$20.2$0.07$2.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.3$20.4$0.09$2.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.4$31.7$0.28$2.91