Civic Intelligence

Riverton Community Housing

990 • Fiscal year 2016 • EIN 23-7259966

Jul 01, 2015 to Jun 30, 2016 • Filed on May 15, 2017

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

92nd percentile

0.98x

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

7.59x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

74th percentile

12%

Higher net margin than 74% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

20th percentile

$142,798

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

38th percentile

-0.0%

Faster asset growth than 38% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

87th percentile

31%

Faster revenue growth than 87% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$31,527,601

Down $12,541 (-0.0%) from 2015

Net Assets

Up

$499,670

Up $468,869 (+1522%) from 2015

Liabilities

Down

$31,027,931

Down $481,410 (-1.5%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin74th percentile

Revenue

Up

$4,086,374

Up $971,441 (+31%) from 2015

Expenses

Down

$3,613,416

Down $65,270 (-1.8%) from 2015

Net Income

Up

$472,958

Up $1,036,711 (+184%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth38th 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

2016

Assets$31,527,601
Liabilities$31,027,931
Net Assets$499,670
Open 2016 Filing

Operations Trend

Revenue Growth87th percentile

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

2016

Revenue$4,086,374
Expenses$3,613,416
Net Income$472,958
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$4,086,374
Mission and Program Overview

Mission

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

Provide housing for students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,440,099$23,840,765▲ $10,400,666
Cash and Non-Interest-Bearing Accounts$1,365,545$2,181,248▲ $815,703
Intangible Assets$1,094,530$1,033,200▼ $61,330
Rtn Earn Endowment Incm Other Fnds$30,801$499,670▲ $468,869
Accounts Receivable$320,726$232,416▼ $88,310
Other Notes and Loans Receivable, Net$60,000--
Prepaid Expenses and Deferred Charges$29,579$23,259▼ $6,320
Total Assets$31,540,142$31,527,601▼ $12,541
Other Assets Total$15,229,663$4,216,713▼ $11,012,950
Liabilities
Tax Exempt Bond Liabilities$30,580,000$30,235,000▼ $345,000
Accounts Payable and Accrued Expenses$861,627$732,993▼ $128,634
Other Liabilities$67,714$59,938▼ $7,776
Total Liabilities$31,509,341$31,027,931▼ $481,410
Net Assets / Fund Balance
Total Net Assets Fund Balance$30,801$499,670▲ $468,869
Total Liabilities and Net Assets / Fund Balance$31,540,142$31,527,601▼ $12,541

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,617,020$9,195,487$24,812,507
Other Land Buildings$5,817,271$1,800,853$7,618,124
Land$2,398,729-$2,398,729
Equipment$7,745$49,366$57,111
Other Assets Org$597,079--
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Gary EllisExecutive DiFT$142,798$142,798

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 BusbiberSecretary
Rachel RiceTreasurer
Molly RutzickVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,884,802
Investment Income
$28,718
Other Revenue
$172,854
Change in Net Assets
$472,958

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,086,374
Total Revenue per Audited Statements
$4,086,374
Total Revenue per Form 990
$4,086,374
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,655,569
Salaries, Compensation, and Employee Benefits$957,847
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,248,778--$1,248,778
Depreciation Depletion$891,921--$891,921
Comp Disqual Persons$622,742--$622,742
Current Officers, Directors, Trustees, and Key Employees$71,399$71,399-$142,798
Fees for Services Other$14,039$126,358-$140,397
Occupancy$110,648--$110,648
Other Employee Benefits$80,804$8,979-$89,783
Payroll Taxes$62,832$5,712-$68,544
Pension Plan Contributions$30,582$3,398-$33,980
All Other Expenses$11,429$9,615-$21,044
Office Expenses$883$16,784-$17,667
Other Expenses$12,198$16,802-$12,198
Fees for Services Accounting$3,420$2,280-$5,700
Travel$200$3,804-$4,004
Fees for Services Legal$819$546-$1,365
Conferences and Meetings$453$454-$907
Advertising-$11-$11
Total Functional Expenses$3,347,274$266,142$0$3,613,416

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,613,416
Total Expenses per Audited Statements$3,613,416
Total Expenses per Form 990$3,613,416
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$59,938

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
2017-05-15
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
23
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/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
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IRS990/MissionDesc0TO DEVELOP AND MAINTAIN QUALITY, STUDENT-ORIENTED HOUSING COMMUNITIES OPERATING ON A NON-PROFIT, DEMOCRATIC BASIS.
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IRS990/OccupancyGrp/TotalAmt0110648
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IRS990/OfficeExpensesGrp/TotalAmt017667
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt08979
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt080804
IRS990/OtherEmployeeBenefitsGrp/TotalAmt089783
IRS990/OtherExpensesGrp/Desc0COLE OPERATING EXPENSES
IRS990/OtherExpensesGrp/Desc1ADMINISTRATIVE FEES
IRS990/OtherExpensesGrp/Desc2OTHER ADMINISTRATIVE
IRS990/OtherExpensesGrp/Desc3BUILDING REPAIRS & MAINT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt016802
IRS990/OtherExpensesGrp/ProgramServicesAmt0160156
IRS990/OtherExpensesGrp/ProgramServicesAmt123971
IRS990/OtherExpensesGrp/ProgramServicesAmt212198
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt115227
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt23384
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt03384
IRS990/OtherRevenueTotalAmt0103121
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt060000
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05712
IRS990/PayrollTaxesGrp/ProgramServicesAmt062832
IRS990/PayrollTaxesGrp/TotalAmt068544
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03398
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt030582
IRS990/PensionPlanContributionsGrp/TotalAmt033980
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt029579
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IRS990/PrincipalOfficerNm0GARY ELLIS
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc3COLE TOWNHOMES, MINNEAPOLIS
IRS990/ProgramServiceRevenueGrp/Desc4CHATEAU STUDENT HOUSING, MI
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2674604
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3647436
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4555119
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1725446
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2674604
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3647436
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt022540
IRS990/PYOtherExpensesAmt02799325
IRS990/PYOtherRevenueAmt052209
IRS990/PYProgramServiceRevenueAmt03040184
IRS990/PYRevenuesLessExpensesAmt0-563753
IRS990/PYSalariesCompEmpBnftPaidAmt0879361
IRS990/PYTotalExpensesAmt03678686
IRS990/PYTotalRevenueAmt03114933
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IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt069733
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt030801
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0499670
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IRS990ScheduleD/ExpensesSubtotalAmt03613416
IRS990ScheduleD/LandGrp/BookValueAmt02398729

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,527,601
Liabilities
$31,027,931
Net assets
$499,670
Revenue
$4,086,374
Expenses
$3,613,416
Net income
$472,958
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