Civic Intelligence

Versability Resources Inc Fringe Benefit Trust

990 • Fiscal year 2019 • EIN 27-6203765

Sep 01, 2018 to Aug 31, 2019 • Filed on May 13, 2020

Organization Profilewww.versability.org
2520 58th StreetHampton, VA 23661

(757) 896-6461

Siviq Scores

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

Liabilities / Assets

99th percentile

1.62x

Higher debt load relative to assets than 99% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

0.39x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Source year 2019

Net Margin

33rd percentile

-1.6%

Higher net margin than 33% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Source year 2019

Asset Growth

18th percentile

-9.0%

Faster asset growth than 18% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

48th percentile

1.0%

Faster revenue growth than 48% of similar nonprofits.

2019 filings • 501(c)9 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$157,918

Down $15,702 (-9.0%) from 2018

Net Assets

Down

-$97,233

Down $10,350 (-12%) from 2018

Liabilities

Down

$255,151

Down $5,352 (-2.1%) from 2018

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin33rd percentile

Revenue

Up

$651,919

Up $6,610 (+1.0%) from 2018

Expenses

Down

$662,269

Down $5,100 (-0.8%) from 2018

Net Income

Up

-$10,350

Up $11,710 (+53%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$400K$200K$0-$200KAssets 2011: $119,424Liabilities 2011: $88,678Net Assets 2011: $30,7462011Assets 2012: $148,008Liabilities 2012: $151,148Net Assets 2012: -$3,1402012Assets 2013: $171,089Liabilities 2013: $183,691Net Assets 2013: -$12,6022013Assets 2015: $152,349Liabilities 2015: $194,183Net Assets 2015: -$41,8342015Assets 2016: $218,683Liabilities 2016: $275,161Net Assets 2016: -$56,4782016Assets 2017: $199,593Liabilities 2017: $264,416Net Assets 2017: -$64,8232017Assets 2018: $173,620Liabilities 2018: $260,503Net Assets 2018: -$86,8832018Assets 2019: $157,918Liabilities 2019: $255,151Net Assets 2019: -$97,2332019Assets 2020: $156,745Liabilities 2020: $258,032Net Assets 2020: -$101,2872020Assets 2021: $228,054Liabilities 2021: $343,105Net Assets 2021: -$115,0512021Assets 2022: $184,462Liabilities 2022: $327,466Net Assets 2022: -$143,0042022

Highlighted filing

2019

Assets$157,918
Liabilities$255,151
Net Assets-$97,233
Open 2019 Filing

Operations Trend

Revenue Growth48th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $327,2062011Expenses 2012: $981,3282012Expenses 2013: $685,7172013Revenue 2015: $613,070Expenses 2015: $626,369Net Income 2015: -$13,2992015Revenue 2016: $677,071Expenses 2016: $691,715Net Income 2016: -$14,6442016Revenue 2017: $602,434Expenses 2017: $610,779Net Income 2017: -$8,3452017Revenue 2018: $645,309Expenses 2018: $667,369Net Income 2018: -$22,0602018Revenue 2019: $651,919Expenses 2019: $662,269Net Income 2019: -$10,3502019Revenue 2020: $649,617Expenses 2020: $653,671Net Income 2020: -$4,0542020Revenue 2021: $711,934Expenses 2021: $725,698Net Income 2021: -$13,7642021Revenue 2022: $648,753Expenses 2022: $676,706Net Income 2022: -$27,9532022

Highlighted filing

2019

Revenue$651,919
Expenses$662,269
Net Income-$10,350
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
May 13, 2020
Return Version
2018v3.1
Gross Receipts
$651,919
Mission and Program Overview

Mission

The trust provides fringe benefits to employees covered by the service contract act. Fringe benefits include health, dental, vision, life and short term disability benefits.

The trust provides fringe benefits to employees covered by the service contract act. Employee benefits, including health, dental, vision, life and short term disability insurance and paid time off are required to meet minimum prevailing wage rates as required under the act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$116,791$115,070▼ $1,721
Accounts Receivable$56,829$42,848▼ $13,981
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$173,620$157,918▼ $15,702
Other Assets Total-$0-
Liabilities
Other Liabilities$254,513$243,681▼ $10,832
Accounts Payable and Accrued Expenses$5,990$11,470▲ $5,480
Total Liabilities$260,503$255,151▼ $5,352
Net Assets / Fund Balance
Unrestricted Net Assets$-86,883$-97,233▼ $10,350
Total Net Assets Fund Balance$-86,883$-97,233▼ $10,350
Total Liabilities and Net Assets / Fund Balance$173,620$157,918▼ $15,702
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Kathryn J GrzelkowskiTrustee
Tammy RobbsTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Government Service AdministratorsAdministrative888 VETERANS MEMORIAL HWY STE 540, Hauppauge, NY 11788$54,287
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$651,919
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-10,350

Audited Revenue Reconciliation

Revenue per Audited Statements
$651,919
Total Revenue per Audited Statements
$651,919
Total Revenue per Form 990
$651,919
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$69,787
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
Benefits to Members---$592,482
Fees for Services Management---$54,287
Fees for Services Accounting---$15,500
Total Functional Expenses$0$0$0$662,269

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$662,269
Total Expenses per Audited Statements$662,269
Total Expenses per Form 990$662,269
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Accrued Premium Reserve$160,158
Accrued Premium Rebate$83,523
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Copy of the draft 990 is reviewed by the trustees prior to filing with the irs.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“ORGANIZATIONAL DOCUMENTS, APPLICATION FOR EXEMPTION, AND FORM 990s ARE MADE AVAILABLE UPON REQUEST. THE ORGANIZATION'S FORM 990S ARE ASLO OBTAINED AND POSTED ONLINE BY VARIOUS WATCHDOG ORGANIZATIONS, SUCH AS GUIDESTAR AND CHARITY NAVIGATOR.”

Filing and Contact Details

Filer

Filer Name
Versability Resources Inc
EIN
27-6203765
Phone
7578966461
Address
2520 58TH STREET, HAMPTON, VA 23661

Signing Officer

Name
Tammy Robbs
Title
Trustee
Signed
2020-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathryn J Grzelkowski
Formed
2009
Legal Domicile
Va
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
5

Preparer

Firm
Frye & Company CPAs
Address
9161 Liberia Ave Ste 304, Manassas, VA 20110
Preparer
Mark R Frye CPA
Phone
7032570660
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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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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0VERSABILITY RESOURCES INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0c
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0173620
IRS990/TotalAssetsEOYAmt0157918
IRS990/TotalAssetsGrp/BOYAmt0173620
IRS990/TotalAssetsGrp/EOYAmt0157918
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0662269
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0260503
IRS990/TotalLiabilitiesEOYAmt0255151
IRS990/TotalLiabilitiesGrp/BOYAmt0260503
IRS990/TotalLiabilitiesGrp/EOYAmt0255151
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-86883
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-97233
IRS990/TotalProgramServiceExpensesAmt0592482
IRS990/TotalProgramServiceRevenueAmt0651919
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0651919
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0651919
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0173620
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0157918
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-86883
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-97233
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02520 58TH STREET
IRS990/USAddress/CityNm0HAMPTON
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023661
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0www.versability.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-09-10 13:11:23Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TAMMY ROBBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Trustee
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERSABILITY RESOURCES INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FRINGE BENEFIT PLAN
ReturnHeader/Filer/BusinessNameControlTxt0VERS
ReturnHeader/Filer/EIN0276203765
ReturnHeader/Filer/PhoneNum07578966461
ReturnHeader/Filer/USAddress/AddressLine1Txt02520 58TH STREET
ReturnHeader/Filer/USAddress/CityNm0HAMPTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023661
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0454199441
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Frye & Company CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09161 Liberia Ave Ste 304
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Manassas
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020110
ReturnHeader/PreparerPersonGrp/PhoneNum07032570660
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARK R FRYE CPA
ReturnHeader/ReturnTs02020-05-13T12:04:01-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-09-01
ReturnHeader/TaxPeriodEndDt02019-08-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$157,918
Liabilities
$255,151
Net assets
-$97,233
Revenue
$651,919
Expenses
$662,269
Net income
-$10,350
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$1.84$3.27$1.43$6.49$6.77$0.28
2021Detailed filing. Detailed filing data is available for this year.$2.28$3.43$1.15$7.12$7.26$0.14
2020Detailed filing. Detailed filing data is available for this year.$1.57$2.58$1.01$6.50$6.54$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.58$2.55$0.97$6.52$6.62$0.10
2018Detailed filing. Detailed filing data is available for this year.$1.74$2.61$0.87$6.45$6.67$0.22
2017Detailed filing. Detailed filing data is available for this year.$2.00$2.64$0.65$6.02$6.11$0.08
2016Detailed filing. Detailed filing data is available for this year.$2.19$2.75$0.56$6.77$6.92$0.15
2015Detailed filing. Detailed filing data is available for this year.$1.52$1.94$0.42$6.13$6.26$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$1.84$0.13$6.86
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$1.51$0.03$9.81
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.19$0.89$0.31$3.27