Civic Intelligence

Volunteers of America Inc

990 • Fiscal year 2014 • EIN 27-2414104

Jul 01, 2013 to Jun 30, 2014 • Filed on Jan 29, 2015

7530 Market Place DrSuite55344

(202) 997-9073

Siviq Scores

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

Liabilities / Assets

69th percentile

0.20x

Higher debt load relative to assets than 69% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

85th percentile

0.58x

Higher debt load relative to revenue than 85% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

12th percentile

-23%

Higher net margin than 12% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

98th percentile

$340,573

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 166.0% of source-year revenue.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

40th percentile

-0.4%

Faster asset growth than 40% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Assets

Down

$606,771

Down $2,403 (-0.4%) from 2013

Net Assets

Down

$487,716

Down $46,391 (-8.7%) from 2013

Liabilities

Up

$119,055

Up $43,988 (+59%) from 2013

Revenue

$205,125

No earlier filing loaded for comparison.

Expenses

Down

$251,516

Down $658,192 (-72%) from 2013

Net Income

-$46,391

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2013: $609,174Liabilities 2013: $75,067Net Assets 2013: $534,1072013Assets 2014: $606,771Liabilities 2014: $119,055Net Assets 2014: $487,7162014Assets 2015: $520,213Liabilities 2015: $123,246Net Assets 2015: $396,9672015Assets 2016: $440,208Liabilities 2016: $126,829Net Assets 2016: $313,3792016Assets 2017: $279,196Liabilities 2017: $60,075Net Assets 2017: $219,1212017Assets 2018: $322,447Liabilities 2018: $17,697Net Assets 2018: $304,7502018Assets 2019: $403,129Liabilities 2019: $18,939Net Assets 2019: $384,1902019Assets 2020: $410,909Liabilities 2020: $8,526Net Assets 2020: $402,3832020

Highlighted filing

2014

Assets$606,771
Liabilities$119,055
Net Assets$487,716

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2013: $909,7082013Revenue 2014: $205,125Expenses 2014: $251,516Net Income 2014: -$46,3912014Revenue 2015: $205,127Expenses 2015: $295,876Net Income 2015: -$90,7492015Revenue 2016: $205,127Expenses 2016: $288,715Net Income 2016: -$83,5882016Revenue 2017: $205,127Expenses 2017: $299,385Net Income 2017: -$94,2582017Revenue 2018: $205,128Expenses 2018: $119,499Net Income 2018: $85,6292018Revenue 2019: $184,015Expenses 2019: $104,575Net Income 2019: $79,4402019Revenue 2020: $116,594Expenses 2020: $98,401Net Income 2020: $18,1932020

Highlighted filing

2014

Revenue$205,125
Expenses$251,516
Net Income-$46,391
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 29, 2015
Return Version
2013v4.0
Gross Receipts
$205,125
Mission and Program Overview

Mission

To serve low-income communities and low income persons by providing development services to and funding for community benefit facilities in a manner that enables the organization or one or more entities in which the organization participates to qualify for new market tax credits under section 45d of the internal revenue code.

To serve low-income communities and low-income persons by providing development services to and funding for community benefit facilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$482,973$492,485▲ $9,512
Investments Program Related$4,298$4,262▼ $36
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$609,174$606,771▼ $2,403
Other Assets Total$121,903$110,024▼ $11,879
Liabilities
Other Liabilities$73,832$119,055▲ $45,223
Accounts Payable and Accrued Expenses$1,235$0▼ $1,235
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$75,067$119,055▲ $43,988
Net Assets / Fund Balance
Unrestricted Net Assets$534,107$487,716▼ $46,391
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$534,107$487,716▼ $46,391
Total Liabilities and Net Assets / Fund Balance$609,174$606,771▼ $2,403

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$7,474--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Shawn Bloomgovernance board & ADVISOR$340,573$340,573
John MorlandGovernance Board and Advisor$281,374$281,374
Anne MccullochAdvisory Board Member$246,967$246,967
Karin KlusmannAdvisory Board Member$211,894$211,894
Jane Burksgovernance BOARD MEMBER$205,732$205,732

Board Members and Trustees

NameTitle
Thomas D TurnbullPresident
Janet Stingfellowgovernance BOARD MEMBER
Karen Dalegovernance BOARD MEMBER
David T BowmanAssistant Secretary
Patrick N SheridanAssistant Secretary
Robert GibsonAssistant Secretary/treasurer
Joseph a BudzynskiCFO
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$205,125
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-46,391

Audited Revenue Reconciliation

Revenue per Audited Statements
$205,125
Total Revenue per Audited Statements
$205,125
Total Revenue per Form 990
$205,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$251,516
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$32,500--$32,500
Travel$8,899--$8,899
Fees for Services Accounting$8,000--$8,000
Insurance$3,640--$3,640
Other Expenses$19,300$2,044-$2,044
Conferences and Meetings$1,830--$1,830
All Other Expenses$312--$312
Total Functional Expenses$239,472$12,044$0$251,516

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$251,516
Total Expenses per Audited Statements$251,516
Total Expenses per Form 990$251,516
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$119,055
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
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

Part VI, Section A, Line 7A

Directors shall be appointed by resolution of the board of directors of Volunteers of America National Services.

PART VI, SECTION A, line 7B

The articles and bylaws may not be amended without the prior written consent of Volunteers of America National Services.

Part VI, Section B, Line 2

Thomas Turnbull, David Bowman, and Patrick Sheridan have business relations with each other, because they also serve as directors and/or officers of Volunteers of America, Inc., Volunteers of America National Services, and/or their related organizations. Thomas Turnbull, David Bowman, and Patrick Sheridan are employees of Volunteers of America, Inc. Janie Burks has business relations by indirect transaction with Volunteers of America, Inc., of which Thomas Turnbull and David Bowman are officers.

Part VI, Section B, Line 3

The organization has no employees, and has delegated control over certain management duties to Volunteers of America National Services. Volunteers of America National Services, as a parent corporation, assists in providing to its subordinate corporations general and administrative supervision, financial management, quality assurance, regulatory compliance, real estate development and strategic planning.

PART VI, SECTION B, LiNE 11B

The final Form 990 is reviewed by the internal accounting and new markets tax credits departments for accuracy prior to filing with the IRS. All members of the organization's 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.

Part VI, Section B, Lines 15A & 15B

The organization's top management official, officers, and key employees are not compensated by the organization but are compensated by a related organization, Volunteers of America, Inc. Volunteers of America's process for determining compensation of the organization's top management official, officers, and key employees includes review and approval by a compensation committee formed of independent members appointed by the Board of Directors. The Compensation Committee reviews compensation data with respect to functionally comparable senior management-level positions at organizations similar to Volunteers of America in size, geographic location, national presence, industry and other relevant factors, and determines a permissible range of pay between the 50th and 75th percentile of compensation received by comparators. Compensation data is gathered from published survey sources and using the services of an outside compensation consulting firm. This process was most recently undertaken at the following indicated times, to establish the compensation of the following individuals: in January 2012, Thomas Turnbull, President; in January 2011, David Bowman, Assistant Secretary, and Patrick Sheridan, Assistant Secretary.

Part VI, Section B, 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.

Part VI, Section B, Line 13

The organization has no employees. its corporate parent and sponsoring organization, Volunteers of America National Services, has adopted a Whistleblower policy.

Part VI, Section B, Line 14

The organization follows the Document Retention and Destruction Policy adopted by its corporate parent and sponsoring organization, Volunteers of America National Services.

Part VI, Section C, Line 19

VOANS CDE INC.'s GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.

Filing and Contact Details

Filer

EIN
27-2414104
In Care Of
% VANESSA TRAN
Phone
2029979073

Signing Officer

Name
Vanessa Tran
Title
Officer
Phone
2029979073
Signed
2015-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Budzynski
Formed
2010
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
5
Employees
0

Preparer

Preparer
Philip H Cornblatt CPA
Phone
2029979073
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

Description:consulting total fees:32500

Financial Statement Notes

part X, #2

The Corporation has applied for and received a determination group exemption letter from the Internal Revenue Service (IRS) to be treated as a tax-exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended June 30, 2014. Due to its tax exempt status, the Corporation is not subject to income taxes. Accordingly, these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure. The Corporation is required to file and does file tax returns with the IRS and other taxing authorities. Income tax returns filed by the Corporation are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since inception remain open.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation has applied for and received a determination group exemption letter from the Internal Revenue Service (IRS) to be treated as a tax-exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended June 30, 2014. Due to its tax exempt status, the Corporation is not subject to income taxes. Accordingly, these financial statements do not reflect a provision for income taxes and the Corporation has no other tax positions which must be considered for disclosure. The Corporation is required to file and does file tax returns with the IRS and other taxing authorities. Income tax returns filed by the Corporation are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since inception remain open.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0part x, #2
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