Civic Intelligence

Voans Orono Woods Inc

990 • Fiscal year 2017 • EIN 27-3934878

Jul 01, 2016 to Jun 30, 2017 • Filed on May 07, 2018

7530 Market Place DriveEden Prairie, MN 55344

(952) 941-0305

Siviq Scores

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

Liabilities / Assets

97th percentile

1.51x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

96th percentile

9.53x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

19th percentile

-8.7%

Higher net margin than 19% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

95th percentile

$538,642

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 54.5% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

27th percentile

-1.9%

Faster asset growth than 27% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

40th percentile

1.4%

Faster revenue growth than 40% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Down

$6,241,059

Down $117,700 (-1.9%) from 2016

Net Assets

Down

-$3,178,193

Down $85,542 (-2.8%) from 2016

Liabilities

Down

$9,419,252

Down $32,158 (-0.3%) from 2016

Revenue

Up

$988,528

Up $13,901 (+1.4%) from 2016

Expenses

Up

$1,074,070

Up $12,017 (+1.1%) from 2016

Net Income

Up

-$85,542

Up $1,884 (+2.2%) from 2016

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2011: $7,134,105Liabilities 2011: $9,145,312Net Assets 2011: -$2,011,2072011Assets 2012: $6,972,014Liabilities 2012: $9,274,555Net Assets 2012: -$2,302,5412012Assets 2013: $6,786,222Liabilities 2013: $9,464,223Net Assets 2013: -$2,678,0012013Assets 2014: $6,680,458Liabilities 2014: $9,584,280Net Assets 2014: -$2,903,8222014Assets 2016: $6,358,759Liabilities 2016: $9,451,410Net Assets 2016: -$3,092,6512016Assets 2017: $6,241,059Liabilities 2017: $9,419,252Net Assets 2017: -$3,178,1932017

Highlighted filing

2017

Assets$6,241,059
Liabilities$9,419,252
Net Assets-$3,178,193

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $1,037,8692011Expenses 2012: $965,9812012Expenses 2013: $1,057,4492013Revenue 2014: $864,330Expenses 2014: $1,091,038Net Income 2014: -$226,7082014Revenue 2016: $974,627Expenses 2016: $1,062,053Net Income 2016: -$87,4262016Revenue 2017: $988,528Expenses 2017: $1,074,070Net Income 2017: -$85,5422017

Highlighted filing

2017

Revenue$988,528
Expenses$1,074,070
Net Income-$85,542
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 7, 2018
Return Version
2016v3.0
Gross Receipts
$988,528
Mission and Program Overview

Mission

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,212,584$5,056,699▼ $155,885
Accounts Receivable$73,970$290,736▲ $216,766
Cash and Non-Interest-Bearing Accounts$65,394$63,674▼ $1,720
Prepaid Expenses and Deferred Charges$30,269$30,356▲ $87
Inventories for Sale or Use$1,584$942▼ $642
Total Assets$6,358,759$6,241,059▼ $117,700
Other Assets Total$974,958$798,652▼ $176,306
Liabilities
Tax Exempt Bond Liabilities$7,970,000$7,661,573▼ $308,427
Other Liabilities$1,281,637$1,452,945▲ $171,308
Accounts Payable and Accrued Expenses$199,773$304,734▲ $104,961
Total Liabilities$9,451,410$9,419,252▼ $32,158
Net Assets / Fund Balance
Unrestricted Net Assets$-3,092,651$-3,178,193▼ $85,542
Total Net Assets Fund Balance$-3,092,651$-3,178,193▼ $85,542
Total Liabilities and Net Assets / Fund Balance$6,358,759$6,241,059▼ $117,700

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,108,914$2,417,441$6,526,355
Land$838,318-$838,318
Leasehold Improvements$88,150$43,956$132,106
Equipment$17,473$89,799$107,272
Other Land Buildings$3,844$7,859$11,703
Other Assets Org$618,110--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Burks JaneBoard Chair
King Michael WPresident & CEO
Kikumoto DavidVice Chairman
Arnold PattiDirector
Cooper WillDirector
Dale KarenDirector
Edeburn AndyDirector
Knapp KeithDirector
Leblanc JamesDirector
Rase NancyDirector
Sullivan MichaelDirector
Wakefield SteveDirector
Keller Cynthia RAsst. Secretary
Sheridan Patrick NAsst. Secretary
Gavin Nancy aAsst. Secretary/Treasurer
Perry Deborah aAsst. Secretary/Treasurer
Turnbull Thomas DAsst. Secretary/Treasurer
Budzynski Joseph aAsst. Secretary/Treasurer & CFO
Olson Wayne CEVP, healthcare oper. & develop.
Carrington EdwinaSecretary
Moore CarolTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$988,072
Investment Income
$456
Other Revenue
$0
Change in Net Assets
$-85,542

Audited Revenue Reconciliation

Revenue per Audited Statements
$988,528
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$988,528
Total Revenue per Form 990
$988,528
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$971,033
Salaries, Compensation, and Employee Benefits$103,037
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$427,845--$427,845
Depreciation Depletion$186,126--$186,126
Occupancy$122,391$1,236-$123,627
Other Salaries and Wages$82,062--$82,062
Fees for Services Management-$44,259-$44,259
Insurance$32,473--$32,473
Office Expenses$30,156--$30,156
Advertising$17,704--$17,704
Other Employee Benefits$14,697--$14,697
Fees for Services Accounting$14,687--$14,687
Fees for Services Other$6,478--$6,478
Payroll Taxes$6,278--$6,278
Other Expenses$2,497--$2,497
Information Technology$1,312--$1,312
Fees for Services Legal$1,240--$1,240
Travel$1,240--$1,240
All Other Expenses$264--$264
Conferences and Meetings$215--$215
Total Functional Expenses$1,028,575$45,495$0$1,074,070

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,074,070
Total Expenses per Audited Statements$1,074,070
Total Expenses per Form 990$1,074,070
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Accounts Payable - VOANS$1,408,795
Resident Deposits Payable$43,750
Deferred Revenue$400

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Orono Minnesota2006-12-01$8,640,000Refund Bonds Previously Issued

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,637,238-$800,000$260,644

Bond Financing Compliance

No rebate due
Yes
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
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

Michael king, joseph budzynski, thomas turnbull, patrick sheridan, wayne olson, deborah perry, nancy gavin, and cynthia keller have business relationships with each other, because they serve as directors, officers, and/or key employees of volunteers of america, inc., volunteers of america national services, and/or their related organizations.

Form 990, Part VI, Section A, line 7A

VOA National Services has the right to elect or appoint directors.

Form 990, Part VI, Section A, line 7B

VOA National Services approves amendments to the articles and bylaws.

Form 990, Part VI, Section B, line 11B

The tax return is provided to the Board of Directors for review. The board has 5 days to review and give comments on the return. After the comment period, any changes will be made to the return. The Board of Directors is then provided a complete copy of the final return upon filing.

Form 990, 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 potential conflicts arise. Potential conflicts of interest are reviewed by the Board of Directors.

Form 990, Part VI, Section B, line 15

The organization's president and ceo is not compensated by the organization but is compensated by a related organization, volunteers of america, inc. Volunteers of america's process for determining compensation of the organization's president and ceo, 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 conducts a market compensation analysis review every year and reports their conclusions to the board of directors.

Form 990, Part VI, Section C, line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Part VI, Section B, Line 13:

The organization follows the whistleblower policy adopted by its manager, volunteers of america national services.

Part VI, Section B, Line 14:

The organization follows the document retention and destruction policy adopted by its manager, volunteers of america national services.

Filing and Contact Details

Filer

Filer Name
VOANS Orono Woods Inc
EIN
27-3934878
Phone
9529410305
Address
7530 Market Place Drive, Eden Prairie, MN 55344

Signing Officer

Name
Nancy Gavin
Title
VP Financial Services
Phone
9529410305
Signed
2018-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Budzynski
Formed
2001
Legal Domicile
Mn
Voting Board Members
14
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Baker Tilly Virchow Krause LLP
Address
225 S 6th St 2300, Minneapolis, MN 55402
Preparer
Lawrence H Mohr CPA
Phone
6128764500
Supplemental Narrative

Additional Explanations

Part I, line 1 and part III, line 1:

Voans orono woods inc was formed to establish and provide for elderly and handicapped persons housing and other services. These services are specifically designed to meet their physical, spiritual and emotional needs, and to contribute to their health, security, and happiness in longer living.

FORM 990, PART XII, LINE 2C:

Neither the oversight process of the audit or the selection process of the independent accountant changed during the tax year.

Financial Statement Notes

Part X, Line 2:

The organization has evaluated its tax positions for uncertainty and has no unrecognized tax matters that are required to be disclosed. The organization had no income tax expense and there are no cash payments for income taxes in 2017 and 2016.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt14Asst. Secretary/Treasurer & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt15Asst. Secretary/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt16Asst. Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt17Asst. Secretary
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IRS990/Form990PartVIISectionAGrp/TitleTxt19Asst. Secretary/Treasurer
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