Civic Intelligence

Riverton Community Housing

990 • Fiscal year 2019 • EIN 23-7259966

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 15, 2019

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

90th percentile

0.96x

Higher debt load relative to assets than 90% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

97th percentile

9.91x

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

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Net Margin

37th percentile

0.5%

Higher net margin than 37% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

14th percentile

$160,430

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

33rd percentile

0.9%

Faster asset growth than 33% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

69th percentile

9.9%

Faster revenue growth than 69% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$52,315,009

Up $476,273 (+0.9%) from 2018

Net Assets

Up

$2,326,808

Up $88,495 (+4.0%) from 2018

Liabilities

Up

$49,988,201

Up $387,778 (+0.8%) from 2018

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin37th percentile

Revenue

Up

$5,045,570

Up $453,691 (+9.9%) from 2018

Expenses

Up

$5,022,775

Up $1,063,299 (+27%) from 2018

Net Income

Down

$22,795

Down $609,608 (-96%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2019

Assets$52,315,009
Liabilities$49,988,201
Net Assets$2,326,808
Open 2019 Filing

Operations Trend

Revenue Growth69th 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

2019

Revenue$5,045,570
Expenses$5,022,775
Net Income$22,795
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 15, 2019
Return Version
2018v3.2
Gross Receipts
$5,045,570
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$25,503,207$23,374,219▼ $2,128,988
Rtn Earn Endowment Incm Other Fnds$2,238,313$2,326,808▲ $88,495
Cash and Non-Interest-Bearing Accounts$1,756,573$2,317,824▲ $561,251
Intangible Assets$1,227,461$1,174,065▼ $53,396
Accounts Receivable$360,510$1,097,313▲ $736,803
Prepaid Expenses and Deferred Charges$23,390$26,947▲ $3,557
Total Assets$51,838,736$52,315,009▲ $476,273
Other Assets Total$22,967,595$24,324,641▲ $1,357,046
Liabilities
Tax Exempt Bond Liabilities$48,850,000$48,365,000▼ $485,000
Accounts Payable and Accrued Expenses$693,345$1,167,703▲ $474,358
Mortgage Notes Payable Secured by Investment Property-$450,000-
Other Liabilities$57,078$5,498▼ $51,580
Total Liabilities$49,600,423$49,988,201▲ $387,778
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,238,313$2,326,808▲ $88,495
Total Liabilities and Net Assets / Fund Balance$51,838,736$52,315,009▲ $476,273

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,194,924$13,656,232$33,851,156
Land$3,148,729-$3,148,729
Equipment$30,566$72,294$102,860
Other Assets Org$384,362--
Compensation and Service Providers
Top Officer Pay14th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Gary EllisExecutive DiFT$160,430$160,430
Gary EllisExecutive Director-$160,430$160,430

Board Members and Trustees

NameTitle
Jaren JohnsonPresident
Alyssa BraatenBoard Member
Courtney OverbyBoard Member
Ellen DoeringBoard Member
Eric AndersonBoard Member
Mary NovakBoard Member
Michael CopaBoard Member
Michael ShepardBoard Member
Mike SturdivantBoard Member
Molly RutzickBoard Member
Neil KolatkarBoard Member
Scott GrahamBoard Member
Tom PiersonBoard Member
Brian DusbiberSecretary
Rachel RiceTreasurer
Jason KenleyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,516,708
Investment Income
$342,086
Other Revenue
$186,776
Change in Net Assets
$22,795

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,045,570
Revenue Not Reported on Form 990
$65,155
Total Revenue per Audited Statements
$5,110,725
Total Revenue per Form 990
$5,045,570
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,828,566
Salaries, Compensation, and Employee Benefits$1,194,209
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,248,156$25,741-$2,273,897
Depreciation Depletion$1,014,063$584-$1,014,647
Other Salaries and Wages$624,152$137,738-$761,890
Current Officers, Directors, Trustees, and Key Employees$102,338$102,338-$204,676
Fees for Services Other$132,516$5,034-$137,550
Other Employee Benefits$80,853$22,090-$102,943
Payroll Taxes$63,203$17,267-$80,470
Pension Plan Contributions$34,739$9,491-$44,230
Occupancy-$36,006-$36,006
All Other Expenses$5,714$6,858-$12,572
Fees for Services Accounting-$10,700-$10,700
Office Expenses$4,537$4,967-$9,504
Travel$4,367$4,782-$9,149
Advertising$3,235$3,542-$6,777
Other Expenses$8,340$4,115-$4,115
Conferences and Meetings$1,180$1,292-$2,472
Total Functional Expenses$4,619,600$403,175$0$5,022,775

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$5,022,775
Expenses per Audited Statements$5,022,230
Total Expenses per Audited Statements$5,022,230
Expenses Not Reported on Financial Statements$545
Other Expense Adjustments$545
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
Security Deposits$5,498

Bond Issues

BondIssuerIssuedIssue PricePurpose
BCity of Minneapolis Series 20142014-08-21$24,435,000-
CCity of Minneapolis Series 20182018-06-11$19,450,000-
ACity of Minneapolis2003-10-28$7,200,000TO BUILD STUDENT HOUSING

Bond Proceeds

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

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 board reviews and signs off on form 990 before filing with the irs.”

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

“Quarterly updates are provided to the board”

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

“The executive director position 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
Mary Novak
Title
Board Member
Phone
6123313911
Signed
2019-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Novak
Formed
1972
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
24
Volunteers
16

Preparer

Firm
Boyum Barenscheer
Address
3050 METRO DR STE 200, MINNEAPOLIS, MN 55425-1547
Preparer
Abigail J Smith
Phone
9528544244
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Investment fee -545 investment fee 545 ajdustments for cole entity 0”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“INVESTMENT FEE -545”

Schedule D, Page 4, Part XII, Line 4B

“INVESTMENT FEE 545”

Raw XML AppendixShowing 400 of 659 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt12VICE PRESIDE
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IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt017267
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IRS990/PrincipalOfficerNm0MARY NOVAK
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IRS990/ProgramServiceRevenueGrp/Desc3CHATEAU STUDENT HOUSING
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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$52,315,009
Liabilities
$49,988,201
Net assets
$2,326,808
Revenue
$5,045,570
Expenses
$5,022,775
Net income
$22,795
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