Civic Intelligence

Gary Voa Elderly Housing Inc Gardens on Carolina

990 • Fiscal year 2015 • EIN 26-4549128

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 08, 2015

Refreshing map…

1660 Duke StreetAlexandria, VA 22314

(703) 341-5000

Siviq Scores

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

Liabilities / Assets

17th percentile

0.01x

Higher debt load relative to assets than 17% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

58th percentile

0.26x

Higher debt load relative to revenue than 58% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

4th percentile

-71%

Higher net margin than 4% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

94th percentile

$492,384

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 226.5% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

27th percentile

-3.3%

Faster asset growth than 27% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

82nd percentile

26%

Faster revenue growth than 82% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Down

$5,360,423

Down $183,719 (-3.3%) from 2014

Net Assets

Down

$5,303,253

Down $91,569 (-1.7%) from 2014

Liabilities

Down

$57,170

Down $92,150 (-62%) from 2014

Revenue

Up

$217,386

Up $45,178 (+26%) from 2014

Expenses

Up

$372,605

Up $11,900 (+3.3%) from 2014

Net Income

Up

-$155,219

Up $33,278 (+18%) from 2014

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$0Assets 2014: $5,544,142Liabilities 2014: $149,320Net Assets 2014: $5,394,8222014Assets 2015: $5,360,423Liabilities 2015: $57,170Net Assets 2015: $5,303,2532015Assets 2016: $5,227,673Liabilities 2016: $48,999Net Assets 2016: $5,178,6742016Assets 2017: $5,113,174Liabilities 2017: $26,444Net Assets 2017: $5,086,7302017Assets 2020: $4,793,008Liabilities 2020: $103,351Net Assets 2020: $4,689,6572020Assets 2021: $4,681,959Liabilities 2021: $95,600Net Assets 2021: $4,586,3592021Assets 2022: $4,551,338Liabilities 2022: $106,871Net Assets 2022: $4,444,4672022Assets 2023: $4,410,912Liabilities 2023: $42,742Net Assets 2023: $4,368,1702023Assets 2025: $4,216,160Liabilities 2025: $57,669Net Assets 2025: $4,158,4912025

Highlighted filing

2015

Assets$5,360,423
Liabilities$57,170
Net Assets$5,303,253

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2014: $172,208Expenses 2014: $360,705Net Income 2014: -$188,4972014Revenue 2015: $217,386Expenses 2015: $372,605Net Income 2015: -$155,2192015Revenue 2016: $261,776Expenses 2016: $386,355Net Income 2016: -$124,5792016Revenue 2017: $285,143Expenses 2017: $402,213Net Income 2017: -$117,0702017Revenue 2020: $348,045Expenses 2020: $491,746Net Income 2020: -$143,7012020Revenue 2021: $386,650Expenses 2021: $489,948Net Income 2021: -$103,2982021Revenue 2022: $387,247Expenses 2022: $529,139Net Income 2022: -$141,8922022Revenue 2023: $415,235Expenses 2023: $491,532Net Income 2023: -$76,2972023Revenue 2025: $450,275Expenses 2025: $579,125Net Income 2025: -$128,8502025

Highlighted filing

2015

Revenue$217,386
Expenses$372,605
Net Income-$155,219
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 8, 2015
Return Version
2014v5.0
Gross Receipts
$217,386
Mission and Program Overview

Mission

Provides housing to elderly or disabled persons or families under section 202 of the national housing act under an agreement with the department of hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,204,323$5,066,451▼ $137,872
Accounts Receivable$246$118,815▲ $118,569
Prepaid Expenses and Deferred Charges$11,581$11,106▼ $475
Cash and Non-Interest-Bearing Accounts$32,238$8,048▼ $24,190
Total Assets$5,544,142$5,360,423▼ $183,719
Other Assets Total$295,754$156,003▼ $139,751
Liabilities
Mortgage Notes Payable Secured by Investment Property$25,076$25,101▲ $25
Accounts Payable and Accrued Expenses$113,473$22,142▼ $91,331
Other Liabilities$9,948$9,891▼ $57
Deferred Revenue$823$36▼ $787
Total Liabilities$149,320$57,170▼ $92,150
Net Assets / Fund Balance
Unrestricted Net Assets$5,394,822$5,303,253▼ $91,569
Total Net Assets Fund Balance$5,394,822$5,303,253▼ $91,569
Total Liabilities and Net Assets / Fund Balance$5,544,142$5,360,423▼ $183,719

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,050,731$254,194$5,304,925
Other Land Buildings$15,720$10,061$25,781
Compensation and Service Providers

Employees

NameTitleOtherTotal
Michael W KingPresident/di$492,384$492,384
Thomas D TurnbullAsst. Sec/tr$368,778$368,778
David T BowmanAsst. Sec/tr$293,414$293,414
Joseph a BudzynskiAsst. Sec/tr$254,007$254,007
Juanita CohenAsst. Sec/as$221,211$221,211
Nancy a GavinAsst. Sec/tr$220,591$220,591
Deborah a PerryAsst. Sec/tr$188,945$188,945

Board Members and Trustees

NameTitle
C David KikumotoChair
Michael W KingPresident/director
Shawn BloomVice Chair
Ann SchnareDirector
John MorlandDirector
Karen DaleDirector
Michael SullivanDirector
Steve WakefieldDirector
Wilfred CooperDirector
Patrick N SheridanAsst. Sec
Robin KellerAsst. Sec
Juanita CohenAsst. Sec/asst Treas
David T BowmanAsst. Sec/treas
Deborah a PerryAsst. Sec/treas
Nancy a GavinAsst. Sec/treas
Thomas D TurnbullAsst. Sec/treas
Joseph a BudzynskiAsst. Sec/treas, CFO
Robert D GibsonKey Employee
Wayne C OlsonKey Employee
Carol MooreSecretary
Nancy FeldmanTreasurer/di
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$216,261
Investment Income
$1,125
Other Revenue
$0
Change in Net Assets
$-155,219

Audited Revenue Reconciliation

Revenue per Audited Statements
$217,386
Total Revenue per Audited Statements
$217,386
Total Revenue per Form 990
$217,386
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$340,916
Salaries, Compensation, and Employee Benefits$31,689
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$137,872--$137,872
Occupancy$93,032--$93,032
Fees for Services Management-$27,080-$27,080
Other Salaries and Wages$22,610--$22,610
Office Expenses$9,757--$9,757
Fees for Services Accounting-$8,488-$8,488
Other Employee Benefits$5,770--$5,770
Payroll Taxes$3,309--$3,309
Conferences and Meetings$1,487--$1,487
Advertising$345--$345
Insurance$281--$281
Fees for Services Legal-$107-$107
Other Expenses$10--$10
Total Functional Expenses$336,930$35,675$0$372,605

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$372,605
Total Expenses per Audited Statements$372,605
Total Expenses per Form 990$372,605
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$9,891
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 1A

The organizations governing body delegated broad authority to an executive committee. The executive committee is composed of the following five officers of the organization: chair, president, vice chair, secretary, and treasurer. There are no executive committee members who are not on the governing body. The executive committee has the authority of the governing body in the management of the business of the organization.

Form 990, Page 6, Part VI, Line 2

Michael king president dir and/or officer of voa david bowman asst. Sec./a dir and/or officer of voa thomas turnbull asst. Sec./a dir and/or officer of voa patrick sheridan assistant se dir and/or officer of voa joseph budzynski asst. Sec./a dir and/or officer of voa nancy gavin asst. Sec./a dir and/or officer of voa deborah perry asst. Sec./a dir and/or officer of voa robin keller assistant se dir and/or officer of voa

Form 990, Page 6, Part VI, Line 3

The organization has no employees, and has delegated control over certain property management duties to volunteers of america indiana, inc. Pursuant to a property management agreement. Volunteers of america national services, as the parent and sponsoring corporation, assists in providing to its subordinate corporations general and administrative supervision, financial management, quality assurance, regulatory compliance, real estate development and strategic planning.

Form 990, Page 6, Part VI, Line 7A

Volunteers of america national services has the right to appoint or approve directors.

Form 990, Page 6, Part VI, Line 7B

The articles of incorporation and bylaws of the corporation may not be amended without the prior written approval of the secretary of the u.s. Department of housing and urban development. Directors may be removed with or without cause at the request of the u.s. Department of housing and urban development. The bylaws may not be amended without the prior written consent of volunteers of america national services.

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

The final form 990 is reviewed by asset management and an officer of the board of directors prior to filing with the irs. All members of the organizations board of directors and all officers of the board are also provided an opportunity to review the form 990 in electronic form immediately prior to filing.

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

The policy requires officers, directors and key employees to disclose annually interests that could give rise to conflicts. The policy and disclosure form are distributed and collected annually, and individuals are required to update the disclosure form throughout the year in the event actual or potential conflicts arise. Conflicts of interest are reviewed by the board of directors. Persons with a conflict are prohibited from participating in the governing body's deliberations and decisions in the transaction.

Form 990, Page 6, Part VI, Line 19

Available at the address below: 1660 duke street alexandria, va 22314

Filing and Contact Details

Filer

Filer Name
Gary Voa Elderly Housing Inc
EIN
26-4549128
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Thomas D Turnbull
Title
Asst. Sec/treas
Phone
7033415000
Signed
2015-10-08
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
In
Voting Board Members
11
Independent Board Members
9
Employees
0

Preparer

Firm
Maddox & Associates Apc
Address
5627 BANKERS AVE BLDG 2, BATON ROUGE, LA 70808-2610
Preparer
William B Beale
Phone
2259263360
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Property tax exemption 57,439 6,211

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