Civic Intelligence

Memphis Voa Elderly Housing Inc Casa Grace

990 • Fiscal year 2018 • EIN 30-0357171

Jul 01, 2017 to Jun 30, 2018 • Filed on Sep 18, 2018

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

25th percentile

0.01x

Higher debt load relative to assets than 25% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

49th percentile

0.09x

Higher debt load relative to revenue than 49% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

13th percentile

-22%

Higher net margin than 13% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

98th percentile

$562,589

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 166.3% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

38th percentile

-1.8%

Faster asset growth than 38% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

40th percentile

0.2%

Faster revenue growth than 40% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$3,653,550

Down $66,385 (-1.8%) from 2017

Net Assets

Down

$3,623,210

Down $75,527 (-2.0%) from 2017

Liabilities

Up

$30,340

Up $9,142 (+43%) from 2017

Revenue

Up

$338,355

Up $518 (+0.2%) from 2017

Expenses

Down

$413,882

Down $495 (-0.1%) from 2017

Net Income

Up

-$75,527

Up $1,013 (+1.3%) from 2017

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 2011: $4,231,769Liabilities 2011: $36,647Net Assets 2011: $4,195,1222011Assets 2012: $4,119,304Liabilities 2012: $38,025Net Assets 2012: $4,081,2792012Assets 2013: $4,003,330Liabilities 2013: $42,557Net Assets 2013: $3,960,7732013Assets 2014: $3,944,369Liabilities 2014: $39,855Net Assets 2014: $3,904,5142014Assets 2015: $3,872,105Liabilities 2015: $31,380Net Assets 2015: $3,840,7252015Assets 2016: $3,807,100Liabilities 2016: $31,823Net Assets 2016: $3,775,2772016Assets 2017: $3,719,935Liabilities 2017: $21,198Net Assets 2017: $3,698,7372017Assets 2018: $3,653,550Liabilities 2018: $30,340Net Assets 2018: $3,623,2102018Assets 2019: $3,580,060Liabilities 2019: $28,966Net Assets 2019: $3,551,0942019Assets 2020: $3,482,055Liabilities 2020: $31,334Net Assets 2020: $3,450,7212020Assets 2021: $3,381,984Liabilities 2021: $29,859Net Assets 2021: $3,352,1252021Assets 2022: $3,265,557Liabilities 2022: $37,890Net Assets 2022: $3,227,6672022Assets 2023: $3,156,993Liabilities 2023: $53,130Net Assets 2023: $3,103,8632023Assets 2025: $2,920,855Liabilities 2025: $35,725Net Assets 2025: $2,885,1302025

Highlighted filing

2018

Assets$3,653,550
Liabilities$30,340
Net Assets$3,623,210

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $346,0722011Expenses 2012: $360,6682012Expenses 2013: $427,7762013Revenue 2014: $335,390Expenses 2014: $391,649Net Income 2014: -$56,2592014Revenue 2015: $336,158Expenses 2015: $399,947Net Income 2015: -$63,7892015Revenue 2016: $336,745Expenses 2016: $402,193Net Income 2016: -$65,4482016Revenue 2017: $337,837Expenses 2017: $414,377Net Income 2017: -$76,5402017Revenue 2018: $338,355Expenses 2018: $413,882Net Income 2018: -$75,5272018Revenue 2019: $345,551Expenses 2019: $417,667Net Income 2019: -$72,1162019Revenue 2020: $336,628Expenses 2020: $437,001Net Income 2020: -$100,3732020Revenue 2021: $334,932Expenses 2021: $433,528Net Income 2021: -$98,5962021Revenue 2022: $351,317Expenses 2022: $475,775Net Income 2022: -$124,4582022Revenue 2023: $338,957Expenses 2023: $462,761Net Income 2023: -$123,8042023Revenue 2025: $422,456Expenses 2025: $496,358Net Income 2025: -$73,9022025

Highlighted filing

2018

Revenue$338,355
Expenses$413,882
Net Income-$75,527
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Sep 18, 2018
Return Version
2017v2.3
Gross Receipts
$338,355
Mission and Program Overview

Mission

The corporation owns and operates rental property rental property for low income and elderly individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,558,529$3,459,377▼ $99,152
Cash and Non-Interest-Bearing Accounts$10,135$22,503▲ $12,368
Prepaid Expenses and Deferred Charges$15,095$15,925▲ $830
Total Assets$3,719,935$3,653,550▼ $66,385
Other Assets Total$136,176$155,745▲ $19,569
Liabilities
Other Liabilities$12,838$16,038▲ $3,200
Accounts Payable and Accrued Expenses$8,322$14,112▲ $5,790
Deferred Revenue$38$190▲ $152
Total Liabilities$21,198$30,340▲ $9,142
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,343,978$4,343,978→ $0
Unrestricted Net Assets$-645,241$-720,768▼ $75,527
Total Net Assets Fund Balance$3,698,737$3,623,210▼ $75,527
Total Liabilities and Net Assets / Fund Balance$3,719,935$3,653,550▼ $66,385

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,282,215$957,493$4,239,708
Land$124,500-$124,500
Other Land Buildings$49,806$17,190$66,996
Equipment$2,856$41,126$43,982
Compensation and Service Providers

Employees

NameTitleOtherTotal
Joseph a BudzynskiAsst. Sec/tr$329,643$329,643
Robert GibsonAsst. Sec/tr$322,628$322,628
Sharon Wilson GenoAsst. Sec/tr$306,977$306,977
Nancy a GavinAsst. Sec/tr$212,308$212,308
Deborah a PerryAsst. Sec/tr$187,448$187,448

Board Members and Trustees

NameTitle
Jane BurksBoard Chair
Michael W KingPresident
David C KikumotoVice Chairma
Andy EdeburnDirector
James LeblancDirector
Jeanne PetersenDirector
Karen DaleDirector
Keith KnappDirector
Michael SullivanDirector
Nancy RaseDirector
Shawn BloomDirector
Steve WakefieldDirector
Thomas DolanDirector
Cynthia R KellerAsst. Sec.
Patrick N SheridanAsst. Sec.
Deborah a PerryAsst. Sec/treas
Nancy a GavinAsst. Sec/treas
Robert GibsonAsst. Sec/treas
Sharon Wilson GenoAsst. Sec/treas
Joseph a BudzynskiAsst. Sec/treas, CFO
Edwina CarringtonSecretary
Patti ArnoldTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Volunteers Of America Mid-states InMgmt, Pr, S/c1660 DUKE STREET, Alexandria, VA 22314$119,731
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$337,078
Investment Income
$1,277
Other Revenue
$0
Change in Net Assets
$-75,527

Audited Revenue Reconciliation

Revenue per Audited Statements
$338,355
Total Revenue per Audited Statements
$338,355
Total Revenue per Form 990
$338,355
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$345,278
Salaries, Compensation, and Employee Benefits$68,604
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$118,849--$118,849
Occupancy$100,289--$100,289
Other Salaries and Wages$58,687--$58,687
Fees for Services Management-$29,028-$29,028
Office Expenses$11,445--$11,445
Fees for Services Accounting-$9,813-$9,813
Other Employee Benefits$5,894--$5,894
Conferences and Meetings$5,802--$5,802
Payroll Taxes$4,023--$4,023
Insurance$1,989--$1,989
Other Expenses$1,006--$1,006
Advertising$753--$753
All Other Expenses$120--$120
Total Functional Expenses$375,041$38,841$0$413,882

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$413,882
Total Expenses per Audited Statements$413,882
Total Expenses per Form 990$413,882
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$12,037
Excess Residual Receipts$4,001
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 robert gibson 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 sharon wilson geno asst. Sec./a 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 voa kentucky 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, inc. Has the right to appoint or approve directors and volunteers of america, inc. Has, in turn, transferred this authority to volunteers of america national services.

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, inc.

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 st. Alexandria, va 22314

Filing and Contact Details

Filer

Filer Name
Memphis Voa Elderly Housing Inc
EIN
30-0357171
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Joseph a Budzynski
Title
Asst. Sec/treas, CFO
Phone
7033415000
Signed
2018-09-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph a Budzynski
Formed
2009
Legal Domicile
Tn
Voting Board Members
14
Independent Board Members
12
Employees
0

Preparer

Firm
Maddox & Associates Apc
Address
5627 BANKERS AVE BLDG 2, BATON ROUGE, LA 70808-2610
Preparer
William B Beale
Phone
2259263360
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IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt16ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt17ASST. SEC.
IRS990/Form990PartVIISectionAGrp/TitleTxt18ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt19ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt20ASST. SEC.
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IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/OtherExpensesGrp/Desc1SERVICE COORDINATOR
IRS990/OtherExpensesGrp/Desc2LOSS ON RECAPTURE RES REC
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt041126
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt043982
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt066996
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012037
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt14001
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.92$0.04$2.89$0.42$0.50$0.07
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.16$0.05$3.10$0.34$0.46$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.27$0.04$3.23$0.35$0.48$0.12
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.38$0.03$3.35$0.33$0.43$0.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.48$0.03$3.45$0.34$0.44$0.10
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.58$0.03$3.55$0.35$0.42$0.07
2018Detailed filing. Detailed filing data is available for this year.$3.65$0.03$3.62$0.34$0.41$0.08
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.72$0.02$3.70$0.34$0.41$0.08
2016Detailed filing. Detailed filing data is available for this year.$3.81$0.03$3.78$0.34$0.40$0.07
2015Detailed filing. Detailed filing data is available for this year.$3.87$0.03$3.84$0.34$0.40$0.06
2014Detailed filing. Detailed filing data is available for this year.$3.94$0.04$3.90$0.34$0.39$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.00$0.04$3.96$0.43
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.12$0.04$4.08$0.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.23$0.04$4.20$0.35