Civic Intelligence

Novaco Inc.

990 • Fiscal year 2021 • EIN 37-1437555

Jul 01, 2020 to Jun 30, 2021 • Filed on May 03, 2022

12310 Pinecrest RoadReston, VA 20191

(703) 218-3984

Siviq Scores

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

Liabilities / Assets

75th percentile

0.31x

Higher debt load relative to assets than 75% of similar nonprofits.

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

Liabilities / Revenue

97th percentile

7.84x

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

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

Net Margin

3rd percentile

-89%

Higher net margin than 3% of similar nonprofits.

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

Top Officer Pay

88th percentile

$171,684

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 296.1% of source-year revenue.

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

Asset Growth

11th percentile

-7.0%

Faster asset growth than 11% of similar nonprofits.

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

Revenue Growth

8th percentile

-34%

Faster revenue growth than 8% of similar nonprofits.

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

Assets

Down

$1,472,204

Down $110,232 (-7.0%) from 2020

Net Assets

Down

$1,017,759

Down $51,824 (-4.8%) from 2020

Liabilities

Down

$454,445

Down $58,408 (-11%) from 2020

Revenue

Down

$57,976

Down $30,474 (-34%) from 2020

Expenses

Up

$109,800

Up $7,151 (+7.0%) from 2020

Net Income

Down

-$51,824

Down $37,625 (-265%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,260,678Liabilities 2011: $54,989Net Assets 2011: $1,205,6892011Assets 2012: $1,449,572Liabilities 2012: $241,367Net Assets 2012: $1,208,2052012Assets 2014: $1,497,689Liabilities 2014: $305,315Net Assets 2014: $1,192,3742014Assets 2015: $1,528,805Liabilities 2015: $346,673Net Assets 2015: $1,182,1322015Assets 2017: $1,638,482Liabilities 2017: $440,906Net Assets 2017: $1,197,5762017Assets 2018: $1,614,110Liabilities 2018: $520,083Net Assets 2018: $1,094,0272018Assets 2019: $1,598,945Liabilities 2019: $515,163Net Assets 2019: $1,083,7822019Assets 2020: $1,582,436Liabilities 2020: $512,853Net Assets 2020: $1,069,5832020Assets 2021: $1,472,204Liabilities 2021: $454,445Net Assets 2021: $1,017,7592021Assets 2022: $1,489,277Liabilities 2022: $464,753Net Assets 2022: $1,024,5242022Assets 2023: $1,221,501Liabilities 2023: $203,000Net Assets 2023: $1,018,5012023Assets 2024: $1,207,272Liabilities 2024: $203,000Net Assets 2024: $1,004,2722024

Highlighted filing

2021

Assets$1,472,204
Liabilities$454,445
Net Assets$1,017,759

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $546,8062011Expenses 2012: $495,9972012Revenue 2014: $66,779Expenses 2014: $54,203Net Income 2014: $12,5762014Revenue 2015: $47,880Expenses 2015: $58,122Net Income 2015: -$10,2422015Revenue 2017: $68,310Expenses 2017: $90,682Net Income 2017: -$22,3722017Revenue 2018: $97,799Expenses 2018: $136,302Net Income 2018: -$38,5032018Revenue 2019: $103,373Expenses 2019: $113,618Net Income 2019: -$10,2452019Revenue 2020: $88,450Expenses 2020: $102,649Net Income 2020: -$14,1992020Revenue 2021: $57,976Expenses 2021: $109,800Net Income 2021: -$51,8242021Revenue 2022: $115,548Expenses 2022: $108,783Net Income 2022: $6,7652022Revenue 2023: $103,864Expenses 2023: $109,887Net Income 2023: -$6,0232023Revenue 2024: $95,139Expenses 2024: $109,368Net Income 2024: -$14,2292024

Highlighted filing

2021

Revenue$57,976
Expenses$109,800
Net Income-$51,824
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 3, 2022
Return Version
2020v4.0
Gross Receipts
$57,976
Mission and Program Overview

Mission

novaco helps homeless victims of domestic abuse become healthy, secure and self-sufficient through community collaboration to provide housing, education, childcare, counseling, mentoring and financial management.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,223,963$1,190,298▼ $33,665
Cash and Non-Interest-Bearing Accounts$348,788$271,539▼ $77,249
Prepaid Expenses and Deferred Charges$9,685$10,367▲ $682
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$1,582,436$1,472,204▼ $110,232
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$309,716$251,445▼ $58,271
Mortgage Notes Payable Secured by Investment Property$203,000$203,000→ $0
Accounts Payable and Accrued Expenses$137$0▼ $137
Total Liabilities$512,853$454,445▼ $58,408
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,069,583$1,017,759▼ $51,824
Total Net Assets Fund Balance$1,069,583$1,017,759▼ $51,824
Total Liabilities and Net Assets / Fund Balance$1,582,436$1,472,204▼ $110,232

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$850,498$490,436$1,340,934
Land$339,800-$339,800
Compensation and Service Providers

Board Members and Trustees

NameTitle
-Chair
-Vice Chair
-Director
-Executive Director
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$328
Program Service Revenue
$57,575
Investment Income
$73
Other Revenue
$0
All Other Contributions
$328
Change in Net Assets
$-51,824
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$109,800
Total Fundraising Expense$612
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$34,943--$34,943
Fees for Services Other$7,180$3,475$145$10,800
Occupancy$8,405--$8,405
Fees for Services Legal-$5,309-$5,309
Insurance$3,713$294$128$4,135
Office Expenses$635$11$4$650
Other Expenses$45,223-$335$335
Total Functional Expenses$100,099$9,089$612$109,800
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 Shelter House$251,445
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B Review of form 990 by governing body

The form 990 is prepared by an independent accountant and reviewed by the full board before filling with the irs.

Form 990, Part VI, Line 19 Required documents available to the public

Governing documents, conflict of interest policy and financial statements are available upon written request.

Filing and Contact Details

Filer

Filer Name
Novaco Inc
EIN
37-1437555
Phone
7032183984
Address
12310 PINECREST ROAD, RESTON, VA 20191

Signing Officer

Name
Joseph Meyer
Title
Executive Director
Signed
2022-05-03
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Legal Domicile
Va
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
15

Preparer

Firm
Aronson LLC
Address
111 ROCKVILLE PIKE SUITE 600, ROCKVILLE, MD 20850
Preparer
Gregory M Plotts CPA
Phone
3012316200
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The Organization evaluates uncertainty in income tax positions based on a more-likely-than-not recognition standard. If that threshold is met, the tax position is then measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement. As of June 30, 2021 and 2020, there were no accruals for uncertain tax positions. If applicable, the Organization records interest and penalties as a component of income tax expense. Tax years from 2018 through the current year remain open for examination by tax authorities.

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IRS990/MissionDesc0NOVACO HELPS HOMELESS VICTIMS OF DOMESTIC ABUSE BECOME HEALTHY, SECURE AND SELF-SUFFICIENT THROUGH COMMUNITY COLLABORATION TO PROVIDE HOUSING, EDUCATION, CHILDCARE, COUNSELING, MENTORING AND FINANCIAL MANAGEMENT.
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