Civic Intelligence

Ola II Inc.

990 • Fiscal year 2021 • EIN 34-1760422

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

3648 Rocky River DrCleveland, OH 44111-3934

(216) 941-3330

Siviq Scores

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

Liabilities / Assets

37th percentile

0.02x

Higher debt load relative to assets than 37% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

25th percentile

0.01x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

39th percentile

4.5%

Faster asset growth than 39% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

98th percentile

687%

Faster revenue growth than 98% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,151,341

Up $49,160 (+4.5%) from 2020

Net Assets

Up

$1,126,039

Up $2,625,197 (+175%) from 2020

Liabilities

Down

$25,302

Down $2,576,037 (-99%) from 2020

Revenue

Up

$2,785,960

Up $2,431,973 (+687%) from 2020

Expenses

Down

$160,763

Down $217,016 (-57%) from 2020

Net Income

Up

$2,625,197

Up $2,648,989 (+11134%) from 2020

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0MAssets 2011: $1,410,610Liabilities 2011: $2,627,574Net Assets 2011: -$1,216,9642011Assets 2012: $1,373,025Liabilities 2012: $2,627,807Net Assets 2012: -$1,254,7822012Assets 2013: $1,330,227Liabilities 2013: $2,613,879Net Assets 2013: -$1,283,6522013Assets 2014: $1,339,758Liabilities 2014: $2,685,437Net Assets 2014: -$1,345,6792014Assets 2015: $1,214,231Liabilities 2015: $2,618,120Net Assets 2015: -$1,403,8892015Assets 2016: $1,209,808Liabilities 2016: $2,620,218Net Assets 2016: -$1,410,4102016Assets 2017: $1,181,918Liabilities 2017: $2,605,088Net Assets 2017: -$1,423,1702017Assets 2018: $1,163,140Liabilities 2018: $2,616,117Net Assets 2018: -$1,452,9772018Assets 2019: $1,122,801Liabilities 2019: $2,598,167Net Assets 2019: -$1,475,3662019Assets 2020: $1,102,181Liabilities 2020: $2,601,339Net Assets 2020: -$1,499,1582020Assets 2021: $1,151,341Liabilities 2021: $25,302Net Assets 2021: $1,126,0392021Assets 2022: $1,199,514Liabilities 2022: $106Net Assets 2022: $1,199,4082022Assets 2023: $1,281,838Liabilities 2023: $0Net Assets 2023: $1,281,8382023Assets 2024: $1,607,867Liabilities 2024: $249,235Net Assets 2024: $1,358,6322024Assets 2025: $1,436,176Liabilities 2025: $0Net Assets 2025: $1,436,1762025

Highlighted filing

2021

Assets$1,151,341
Liabilities$25,302
Net Assets$1,126,039

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $300,2352011Expenses 2012: $286,2442012Expenses 2013: $292,4422013Revenue 2014: $289,396Expenses 2014: $351,423Net Income 2014: -$62,0272014Revenue 2015: $301,283Expenses 2015: $359,493Net Income 2015: -$58,2102015Revenue 2016: $323,636Expenses 2016: $330,158Net Income 2016: -$6,5222016Revenue 2017: $332,120Expenses 2017: $344,880Net Income 2017: -$12,7602017Revenue 2018: $341,401Expenses 2018: $371,208Net Income 2018: -$29,8072018Revenue 2019: $349,548Expenses 2019: $371,937Net Income 2019: -$22,3892019Revenue 2020: $353,987Expenses 2020: $377,779Net Income 2020: -$23,7922020Revenue 2021: $2,785,960Expenses 2021: $160,763Net Income 2021: $2,625,1972021Revenue 2022: $75,562Expenses 2022: $2,193Net Income 2022: $73,3692022Revenue 2023: $84,693Expenses 2023: $2,263Net Income 2023: $82,4302023Revenue 2024: $77,544Expenses 2024: $750Net Income 2024: $76,7942024Revenue 2025: $77,544Expenses 2025: $0Net Income 2025: $77,5442025

Highlighted filing

2021

Revenue$2,785,960
Expenses$160,763
Net Income$2,625,197
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.1
Gross Receipts
$3,772,527
Mission and Program Overview

Mission

To provide housing for low income elderly or physically challenged persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$1,080,751-
Land, Buildings, and Equipment, Net$644,755--
Savings and Temporary Cash Investments$429,477--
Cash and Non-Interest-Bearing Accounts$17,317$70,590▲ $53,273
Prepaid Expenses and Deferred Charges$10,632--
Total Assets$1,102,181$1,151,341▲ $49,160
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,558,800--
Accounts Payable and Accrued Expenses$28,400$25,302▼ $3,098
Other Liabilities$14,139--
Total Liabilities$2,601,339$25,302▼ $2,576,037
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,499,158$1,126,039▲ $2,625,197
Total Net Assets Fund Balance$-1,499,158$1,126,039▲ $2,625,197
Total Liabilities and Net Assets / Fund Balance$1,102,181$1,151,341▲ $49,160
Compensation and Service Providers

Board Members and Trustees

NameTitle
Donald MacBridePresident
Tim NaumanVice President
Karen LisowskiTrustee
Kevin LehaneTrustee
Lee NageotteTrustee
Nancy RichardsTrustee
Maureen McAdamsSecretary
Steve LorenzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$71,586
Program Service Revenue
$61,367
Investment Income
$2,653,007
Other Revenue
$0
Change in Net Assets
$2,625,197
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$125,489
Salaries, Compensation, and Employee Benefits$35,274
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$34,125--$34,125
Occupancy$27,671$600-$28,271
Other Salaries and Wages$25,311--$25,311
Other Expenses$16,243--$16,243
Insurance$10,814$309-$11,123
Fees for Services Accounting-$8,200-$8,200
Other Employee Benefits$8,138--$8,138
Fees for Services Management-$6,541-$6,541
Payroll Taxes$1,825--$1,825
Fees for Services Legal$140--$140
Total Functional Expenses$145,113$15,650$0$160,763
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Management duties delegation Part VI line 3

An unrelated third party performs management functions for the Organization.

Form 990 governing body review Part VI line 11

Form 990 is provided to board members via electronic transmission prior to completing electronic filing. Preparer is available to answer any questions prior to transmission.

Conflict of interest policy compliance Part VI line 12C

Directors and employees annually sign the conflict policy.

Governing documents etc available to public Part VI line 19

Governing documents available on Secretary of States website. Tax returns are available on www.guidestar.org. All public documents are available upon proper request to the Board of Directors.

Filing and Contact Details

Filer

Filer Name
OLA II Inc
EIN
34-1760422
Address
3648 Rocky River Dr, Cleveland, OH 44111-3934

Signing Officer

Name
Donald MacBride
Title
President
Phone
2169413330
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Formed
1993
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Wagner & Company CPA
Address
1655 W Market St Suite 225, Akron, OH 44313
Preparer
Steven Wagner
Phone
3308641550
Supplemental Narrative

Additional Explanations

Cessation of or significant change to any program service Part III line 3

On November 24, 2020, the Organization sold its real estate, furnishings, equipment and other fixed assets, together with the replacement reserve and tenant security deposits. The buyer also assumed the mortgage and the accrued mortgage interest, and the security deposit liability. The buyer in the transaction is Franciscan Village II, LP (FVII, LP). The Organization is a shareholder in the corporation that acts as the general partner in FVII, LP. The selling price for all assets was $1,033,927 for which OLA has accepted a note with an interest rate of 7.5% that is secured with a mortgage on the real estate. The Organization continues as a nonprofit entity in good standing.

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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt048007
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt061367
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0155205
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0156191
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0156148
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0153953
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0682864
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt02606160
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt02606160
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt046847
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0262
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0305
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0319
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0274
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt048007
IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98840
IRS990ScheduleA/PublicSupportPY509Pct00.99920
IRS990ScheduleA/PublicSupportTotal509Amt04101372
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02739113
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0353725
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0346086
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0330602
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0331846
IRS990ScheduleA/Total509Grp/TotalAmt04101372
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02785960
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0353987
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0346391
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0330921
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0332120
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04149379
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Purchase of fixed assets by LP to obtain tax credit financing for rehab
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02020-11-24
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0844940349
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt01033927
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt03rd party agreement
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0Fransciscan Village II LP
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt03648 Rocky River Drive
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0Cleveland
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0OH
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd044111
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0An unrelated third party performs management functions for the Organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is provided to board members via electronic transmission prior to completing electronic filing. Preparer is available to answer any questions prior to transmission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Directors and employees annually sign the conflict policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents available on Secretary of States website. Tax returns are available on www.guidestar.org. All public documents are available upon proper request to the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4On November 24, 2020, the Organization sold its real estate, furnishings, equipment and other fixed assets, together with the replacement reserve and tenant security deposits. The buyer also assumed the mortgage and the accrued mortgage interest, and the security deposit liability. The buyer in the transaction is Franciscan Village II, LP (FVII, LP). The Organization is a shareholder in the corporation that acts as the general partner in FVII, LP. The selling price for all assets was $1,033,927 for which OLA has accepted a note with an interest rate of 7.5% that is secured with a mortgage on the real estate. The Organization continues as a nonprofit entity in good standing.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Management duties delegation Part VI line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Cessation of or significant change to any program service Part III line 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Our Lady of Angels Apartments
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0341317758
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501c3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Low income housing under Section 202
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt09
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt03648 Rocky River Dr
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Cleveland
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd044111
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0true
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01102181
IRS990/TotalAssetsEOYAmt01151341
IRS990/TotalAssetsGrp/BOYAmt01102181
IRS990/TotalAssetsGrp/EOYAmt01151341
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt071586
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015650
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0145113
IRS990/TotalFunctionalExpensesGrp/TotalAmt0160763
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02601339
IRS990/TotalLiabilitiesEOYAmt025302
IRS990/TotalLiabilitiesGrp/BOYAmt02601339
IRS990/TotalLiabilitiesGrp/EOYAmt025302
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1499158
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01126039
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0145113
IRS990/TotalProgramServiceRevenueAmt061367
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02714374
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02785960
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01102181
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01151341
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Donald MacBride
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum02169413330
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OLA II Inc
ReturnHeader/Filer/BusinessNameControlTxt0OLAI
ReturnHeader/Filer/EIN0341760422
ReturnHeader/Filer/USAddress/AddressLine1Txt03648 Rocky River Dr
ReturnHeader/Filer/USAddress/CityNm0Cleveland
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.44$0.00$1.44$0.08$0.00$0.08
2024Detailed filing. Detailed filing data is available for this year.$1.61$0.25$1.36$0.08$0.00$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.28$0.00$1.28$0.08$0.00$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.20$0.00$1.20$0.08$0.00$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.15$0.03$1.13$2.79$0.16$2.63
2020Detailed filing. Detailed filing data is available for this year.$1.10$2.60$1.50$0.35$0.38$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.12$2.60$1.48$0.35$0.37$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.16$2.62$1.45$0.34$0.37$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.18$2.61$1.42$0.33$0.34$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.21$2.62$1.41$0.32$0.33$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.21$2.62$1.40$0.30$0.36$0.06
2014Detailed filing. Detailed filing data is available for this year.$1.34$2.69$1.35$0.29$0.35$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.33$2.61$1.28$0.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$2.63$1.25$0.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.41$2.63$1.22$0.30
Peer Organizations

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