Civic Intelligence

Coon Rapids Voa Elderly Housing Inc Oxbowl Bend Apartments

990 • Fiscal year 2016 • EIN 41-1401612

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 12, 2016

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

81st percentile

0.56x

Higher debt load relative to assets than 81% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

95th percentile

4.94x

Higher debt load relative to revenue than 95% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

16th percentile

-18%

Higher net margin than 16% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

98th percentile

$508,612

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 90.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

96th percentile

108%

Faster asset growth than 96% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

31st percentile

-5.0%

Faster revenue growth than 31% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$4,925,753

Up $2,559,560 (+108%) from 2015

Net Assets

Up

$2,155,952

Up $2,414,089 (+935%) from 2015

Liabilities

Up

$2,769,801

Up $145,471 (+5.5%) from 2015

Revenue

Down

$560,864

Down $29,627 (-5.0%) from 2015

Expenses

Up

$659,973

Up $18,071 (+2.8%) from 2015

Net Income

Down

-$99,109

Down $47,698 (-93%) from 2015

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$0-$2.0MAssets 2011: $1,176,163Liabilities 2011: $1,394,482Net Assets 2011: -$218,3192011Assets 2012: $2,723,576Liabilities 2012: $2,874,206Net Assets 2012: -$150,6302012Assets 2013: $2,436,060Liabilities 2013: $2,674,443Net Assets 2013: -$238,3832013Assets 2014: $2,371,612Liabilities 2014: $2,647,576Net Assets 2014: -$275,9642014Assets 2015: $2,366,193Liabilities 2015: $2,624,330Net Assets 2015: -$258,1372015Assets 2016: $4,925,753Liabilities 2016: $2,769,801Net Assets 2016: $2,155,9522016Assets 2017: $4,655,910Liabilities 2017: $2,409,280Net Assets 2017: $2,246,6302017Assets 2018: $4,424,868Liabilities 2018: $2,363,610Net Assets 2018: $2,061,2582018Assets 2019: $4,261,411Liabilities 2019: $2,365,576Net Assets 2019: $1,895,8352019Assets 2020: $4,073,985Liabilities 2020: $2,299,271Net Assets 2020: $1,774,7142020Assets 2021: $3,935,345Liabilities 2021: $2,258,693Net Assets 2021: $1,676,6522021Assets 2022: $3,772,945Liabilities 2022: $2,223,079Net Assets 2022: $1,549,8662022Assets 2023: $3,591,450Liabilities 2023: $2,182,034Net Assets 2023: $1,409,4162023Assets 2024: $3,732,383Liabilities 2024: $2,343,294Net Assets 2024: $1,389,0892024Assets 2025: $5,357,020Liabilities 2025: $4,072,818Net Assets 2025: $1,284,2022025

Highlighted filing

2016

Assets$4,925,753
Liabilities$2,769,801
Net Assets$2,155,952

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $598,9712011Expenses 2012: $558,2362012Revenue 2013: $633,471Expenses 2013: $721,224Net Income 2013: -$87,7532013Revenue 2014: $599,532Expenses 2014: $637,113Net Income 2014: -$37,5812014Revenue 2015: $590,491Expenses 2015: $641,902Net Income 2015: -$51,4112015Revenue 2016: $560,864Expenses 2016: $659,973Net Income 2016: -$99,1092016Revenue 2017: $625,240Expenses 2017: $738,932Net Income 2017: -$113,6922017Revenue 2018: $619,738Expenses 2018: $805,110Net Income 2018: -$185,3722018Revenue 2019: $646,400Expenses 2019: $811,823Net Income 2019: -$165,4232019Revenue 2020: $666,763Expenses 2020: $787,884Net Income 2020: -$121,1212020Revenue 2021: $662,708Expenses 2021: $760,770Net Income 2021: -$98,0622021Revenue 2022: $677,761Expenses 2022: $804,547Net Income 2022: -$126,7862022Revenue 2023: $694,056Expenses 2023: $834,506Net Income 2023: -$140,4502023Revenue 2024: $850,398Expenses 2024: $870,725Net Income 2024: -$20,3272024Revenue 2025: $921,962Expenses 2025: $1,026,849Net Income 2025: -$104,8872025

Highlighted filing

2016

Revenue$560,864
Expenses$659,973
Net Income-$99,109
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 12, 2016
Return Version
2015v2.1
Gross Receipts
$560,864
Mission and Program Overview

Mission

Provides housing for elderly persons and families under section 207/223(f) of the national housing act under an agreement with the u.s. Department of hud.

Provides housing for elderly and disabled persons and families under section 202 of the national housing act under an agreement with the department of hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,935,650$4,496,079▲ $2,560,429
Intangible Assets$95,922$92,901▼ $3,021
Cash and Non-Interest-Bearing Accounts$16,847$34,003▲ $17,156
Prepaid Expenses and Deferred Charges$17,473$18,805▲ $1,332
Accounts Receivable$1,066$1,082▲ $16
Total Assets$2,366,193$4,925,753▲ $2,559,560
Other Assets Total$299,235$282,883▼ $16,352
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,536,696$2,493,505▼ $43,191
Accounts Payable and Accrued Expenses$67,739$255,656▲ $187,917
Other Liabilities$19,893$20,603▲ $710
Deferred Revenue$2$37▲ $35
Total Liabilities$2,624,330$2,769,801▲ $145,471
Net Assets / Fund Balance
Unrestricted Net Assets$-258,137$2,155,952▲ $2,414,089
Total Net Assets Fund Balance$-258,137$2,155,952▲ $2,414,089
Total Liabilities and Net Assets / Fund Balance$2,366,193$4,925,753▲ $2,559,560

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,323,377$2,137,630$6,461,007
Other Land Buildings$164,843$175,882$340,725
Equipment$7,859$19,624$27,483
Other Assets Org$282,883--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Thomas D TurnbullAsst Sec/ass$379,744$379,744
Joseph a BudzynskiAsst. Sec/tr$280,916$280,916
Juanita CohenAsst Sec/ass$231,951$231,951
Nancy GavinAsst. Sec/as$201,001$201,001
Deborah PerryAsst Sec/ass$186,788$186,788

Board Members and Trustees

NameTitle
C David KikumotoBoard Chair
Michael W KingPresident
John MorlandBoard Vice C
Andy EdeburnDirector
Ann SchnareDirector
Edwina CarringtonDirector
James LeblancDirector
Jane BurksDirector
Karen DaleDirector
Michael SullivanDirector
Steve WakefieldDirector
Wilfred N Cooper SrDirector
Deborah PerryAsst Sec/asst Treas
Juanita CohenAsst Sec/asst Treas
Thomas D TurnbullAsst Sec/asst Treas
Patrick SheridanAsst. Sec
Robin KellerAsst. Sec
Nancy GavinAsst. Sec/asst Treas
Joseph a BudzynskiAsst. Sec/treas, CFO
Robert D GibsonKey Employee
Wayne C OlsonKey Employee
Carol MooreSecretary
Nancy J FeldmanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Volunteers Of America Of MinnesotaMgmt, Payroll,5905 GOLDEN VALLEY RD, Golden Valley, MN 55422$183,247
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$560,767
Investment Income
$97
Other Revenue
$0
Change in Net Assets
$-99,109

Audited Revenue Reconciliation

Revenue per Audited Statements
$560,864
Revenue Not Reported on Form 990
$2,513,198
Total Revenue per Audited Statements
$3,074,062
Total Revenue per Form 990
$560,864
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$543,457
Salaries, Compensation, and Employee Benefits$116,516
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$196,024--$196,024
Depreciation Depletion$143,607--$143,607
Other Salaries and Wages$94,647--$94,647
Fees for Services Management-$40,613-$40,613
Office Expenses$23,054--$23,054
Other Employee Benefits$12,280--$12,280
Fees for Services Accounting-$10,678-$10,678
Payroll Taxes$9,589--$9,589
Fees for Services Legal-$6,819-$6,819
Advertising$3,767--$3,767
Conferences and Meetings$3,405--$3,405
Insurance$618--$618
Other Expenses$492--$492
Total Functional Expenses$601,863$58,110$0$659,973

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$659,973
Total Expenses per Audited Statements$659,973
Total Expenses per Form 990$659,973
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
Tenant Security Deposits$20,603
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 jane cohen asst. Sec./a dir and/or officer of voa thomas turnbull 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

Form 990, Page 6, Part VI, Line 3

The organization has no employees, and has delegated control over certain property management duties to volunteers of america minnesota 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 approve or appoint 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 street alexandria, va 22314

Filing and Contact Details

Filer

Filer Name
Coon Rapids Voa Elderly Housing Inc
EIN
41-1401612
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Joseph a Budzynski
Title
Asst. Sec/treas, CFO
Phone
7033415000
Signed
2016-10-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph a Budzynski
Formed
1981
Legal Domicile
Mn
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
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Assisted living conversion grant 2,513,198 total 2,513,198 section 202b of the national housing act authorized hud to provide funds as capital advances to nonprofit owners for new construction or acquisition/rehabilitation of supportive housing facilities. The project has entered into an assisted living conversion grant agreement with hud. The grantee covenants with hud that the grantee will continue to operate the project as a facility for the elderly in accordance with the provisions of section 202b of the housing act of 1959 for the term of the mortgage, and its application as described in the grant agreement for the term fo the mortgage and for at least twenty (20) years after the end maturity of the mortgage (the extended operation period). The maximum funds awarded for this project is 3,000,000. As of june 30, 2016, 2,513,198 has been advanced to the project under the program. The grant is classified in the statement of financial position as net assets.

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Assisted living conversion grant 2,513,198

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.36$4.07$1.28$0.92$1.03$0.10
2024Detailed filing. Detailed filing data is available for this year.$3.73$2.34$1.39$0.85$0.87$0.02
2023Detailed filing. Detailed filing data is available for this year.$3.59$2.18$1.41$0.69$0.83$0.14
2022Detailed filing. Detailed filing data is available for this year.$3.77$2.22$1.55$0.68$0.80$0.13
2021Detailed filing. Detailed filing data is available for this year.$3.94$2.26$1.68$0.66$0.76$0.10
2020Detailed filing. Detailed filing data is available for this year.$4.07$2.30$1.77$0.67$0.79$0.12
2019Detailed filing. Detailed filing data is available for this year.$4.26$2.37$1.90$0.65$0.81$0.17
2018Detailed filing. Detailed filing data is available for this year.$4.42$2.36$2.06$0.62$0.81$0.19
2017Detailed filing. Detailed filing data is available for this year.$4.66$2.41$2.25$0.63$0.74$0.11
2016Detailed filing. Detailed filing data is available for this year.$4.93$2.77$2.16$0.56$0.66$0.10
2015Detailed filing. Detailed filing data is available for this year.$2.37$2.62$0.26$0.59$0.64$0.05
2014Detailed filing. Detailed filing data is available for this year.$2.37$2.65$0.28$0.60$0.64$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$2.67$0.24$0.63$0.72$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.72$2.87$0.15$0.56
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$1.39$0.22$0.60