Civic Intelligence

Third Ward Voa Elderly Housing Inc

990 • Fiscal year 2020 • EIN 43-2084606

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 02, 2020

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

47th percentile

0.08x

Higher debt load relative to assets than 47% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

83rd percentile

0.83x

Higher debt load relative to revenue than 83% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

11th percentile

-32%

Higher net margin than 11% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

97th percentile

$431,100

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 103.5% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

21st percentile

-2.8%

Faster asset growth than 21% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

58th percentile

4.8%

Faster revenue growth than 58% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$4,192,341

Down $121,427 (-2.8%) from 2019

Net Assets

Down

$3,845,305

Down $133,491 (-3.4%) from 2019

Liabilities

Up

$347,036

Up $12,064 (+3.6%) from 2019

Revenue

Up

$416,693

Up $19,231 (+4.8%) from 2019

Expenses

Up

$550,184

Up $19,314 (+3.6%) from 2019

Net Income

Down

-$133,491

Down $83 (-0.1%) from 2019

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: $5,284,280Liabilities 2011: $472,488Net Assets 2011: $4,811,7922011Assets 2012: $5,184,518Liabilities 2012: $447,230Net Assets 2012: $4,737,2882012Assets 2013: $5,122,611Liabilities 2013: $406,956Net Assets 2013: $4,715,6552013Assets 2014: $4,988,902Liabilities 2014: $409,964Net Assets 2014: $4,578,9382014Assets 2015: $4,894,592Liabilities 2015: $399,468Net Assets 2015: $4,495,1242015Assets 2016: $4,764,539Liabilities 2016: $403,149Net Assets 2016: $4,361,3902016Assets 2017: $4,601,253Liabilities 2017: $369,754Net Assets 2017: $4,231,4992017Assets 2018: $4,469,231Liabilities 2018: $357,027Net Assets 2018: $4,112,2042018Assets 2019: $4,313,768Liabilities 2019: $334,972Net Assets 2019: $3,978,7962019Assets 2020: $4,192,341Liabilities 2020: $347,036Net Assets 2020: $3,845,3052020Assets 2021: $4,084,865Liabilities 2021: $350,420Net Assets 2021: $3,734,4452021Assets 2022: $3,958,869Liabilities 2022: $401,098Net Assets 2022: $3,557,7712022Assets 2023: $3,765,108Liabilities 2023: $413,651Net Assets 2023: $3,351,4572023Assets 2024: $3,709,430Liabilities 2024: $503,205Net Assets 2024: $3,206,2252024Assets 2025: $3,663,372Liabilities 2025: $523,168Net Assets 2025: $3,140,2042025

Highlighted filing

2020

Assets$4,192,341
Liabilities$347,036
Net Assets$3,845,305

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $473,8752011Expenses 2012: $472,4812012Expenses 2013: $471,7032013Revenue 2014: $387,139Expenses 2014: $523,856Net Income 2014: -$136,7172014Revenue 2015: $402,594Expenses 2015: $486,408Net Income 2015: -$83,8142015Revenue 2016: $390,889Expenses 2016: $524,623Net Income 2016: -$133,7342016Revenue 2017: $397,988Expenses 2017: $527,879Net Income 2017: -$129,8912017Revenue 2018: $388,339Expenses 2018: $507,634Net Income 2018: -$119,2952018Revenue 2019: $397,462Expenses 2019: $530,870Net Income 2019: -$133,4082019Revenue 2020: $416,693Expenses 2020: $550,184Net Income 2020: -$133,4912020Revenue 2021: $438,062Expenses 2021: $548,922Net Income 2021: -$110,8602021Revenue 2022: $402,050Expenses 2022: $578,724Net Income 2022: -$176,6742022Revenue 2023: $383,809Expenses 2023: $590,123Net Income 2023: -$206,3142023Revenue 2024: $506,519Expenses 2024: $651,751Net Income 2024: -$145,2322024Revenue 2025: $627,784Expenses 2025: $693,805Net Income 2025: -$66,0212025

Highlighted filing

2020

Revenue$416,693
Expenses$550,184
Net Income-$133,491
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 2, 2020
Return Version
2019v5.0
Gross Receipts
$416,693
Mission and Program Overview

Mission

Provide affordable housing to elderly persons under section 202 of the national housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,075,721$3,928,304▼ $147,417
Prepaid Expenses and Deferred Charges$25,695$38,432▲ $12,737
Cash and Non-Interest-Bearing Accounts$4,025$8,424▲ $4,399
Accounts Receivable$3,414$8,010▲ $4,596
Total Assets$4,313,768$4,192,341▼ $121,427
Other Assets Total$204,913$209,171▲ $4,258
Liabilities
Mortgage Notes Payable Secured by Investment Property$297,500$290,000▼ $7,500
Accounts Payable and Accrued Expenses$23,163$41,756▲ $18,593
Other Liabilities$13,675$14,678▲ $1,003
Deferred Revenue$634$602▼ $32
Total Liabilities$334,972$347,036▲ $12,064
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,211,688$5,211,688→ $0
Net Assets Without Donor Restrictions$-1,232,892$-1,366,383▼ $133,491
Total Net Assets Fund Balance$3,978,796$3,845,305▼ $133,491
Total Liabilities and Net Assets / Fund Balance$4,313,768$4,192,341▼ $121,427

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,845,342$1,669,686$5,515,028
Other Land Buildings$22,962$72,401$95,363
Land$60,000-$60,000
Compensation and Service Providers

Employees

NameTitleOtherTotal
Sharon Wilson-genoSecretary/tr$431,100$431,100
Joseph a BudzynskiAsst. Sec./t$346,931$346,931
Patrick SheridanVice Preside$315,771$315,771
Kimberly KingAsst. Sec./t$245,982$245,982
Robin KellerAsst. Secret$181,954$181,954

Board Members and Trustees

NameTitle
Thomas TurnbullPresident
Patrick SheridanVice President
Frances Pace BarnesDirector
Julio SalinasDirector
Karen KeeneDirector
Linda PrimerDirector
Lucinda FrazierDirector
Maggie BryanDirector
Melissa LiouDirector
Pat NorstedtDirector
Tim PearsonDirector
Joseph a BudzynskiAsst. Sec./treasurer
Kimberly KingAsst. Sec./treasurer
Robin KellerAsst. Secretary
Sharon Wilson-genoSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Volunteers Of America Illinois INCMgmt,payroll, E47 W POLK STREET SUITE 250, Chicago, IL 60605$162,992
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$406,932
Investment Income
$2,261
Other Revenue
$7,500
Change in Net Assets
$-133,491

Audited Revenue Reconciliation

Revenue per Audited Statements
$416,693
Total Revenue per Audited Statements
$416,693
Total Revenue per Form 990
$416,693
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$439,402
Salaries, Compensation, and Employee Benefits$110,782
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$147,417--$147,417
Occupancy$100,938--$100,938
Other Salaries and Wages$87,035--$87,035
Fees for Services Management-$31,566-$31,566
Office Expenses$27,942--$27,942
Other Employee Benefits$15,682--$15,682
Fees for Services Accounting-$11,013-$11,013
Payroll Taxes$8,065--$8,065
Advertising$2,585--$2,585
Conferences and Meetings-$1,115-$1,115
Insurance$1,108--$1,108
Other Expenses$53$3,250-$53
Fees for Services Legal-$30-$30
Total Functional Expenses$503,210$46,974$0$550,184

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$550,184
Total Expenses per Audited Statements$550,184
Total Expenses per Form 990$550,184
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$14,678
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
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Thomas turnbull president dir and/or officer of voa patrick sheridan vice pres. Dir and/or officer of voa robin keller asst. Sec. Dir and/or officer of voa joseph budzynski asst sec/tre dir and/or officer of voa pat norstedt director dir and/or officer of voa janet stringfellow asst sec/tre dir and/or officer of voa kimberly b. King asst. Sec./a dir and/or officer of voa sharon wilson geno asst sec/tre 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 illinois 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 street alexandria, va 22314

Filing and Contact Details

Filer

Filer Name
Third Ward Voa Elderly Housing Inc
EIN
43-2084606
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Joseph a Budzynski
Title
Asst. Sec./treasurer
Phone
7033415000
Signed
2020-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph a Budzynski
Formed
2005
Legal Domicile
Mo
Voting Board Members
6
Independent Board Members
5
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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0387055
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0390889
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01991371
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03845342
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01669686
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05515028
IRS990ScheduleD/ExpensesSubtotalAmt0550184
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt072401
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014678
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IRS990ScheduleD/TotalExpensesPerForm990Amt0550184
IRS990ScheduleD/TotalLiabilityAmt014678
IRS990ScheduleD/TotalRevenuePerForm990Amt0416693
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0416693
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0326077
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt4139664
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.66$0.52$3.14$0.63$0.69$0.07
2024Detailed filing. Detailed filing data is available for this year.$3.71$0.50$3.21$0.51$0.65$0.15
2023Detailed filing. Detailed filing data is available for this year.$3.77$0.41$3.35$0.38$0.59$0.21
2022Detailed filing. Detailed filing data is available for this year.$3.96$0.40$3.56$0.40$0.58$0.18
2021Detailed filing. Detailed filing data is available for this year.$4.08$0.35$3.73$0.44$0.55$0.11
2020Detailed filing. Detailed filing data is available for this year.$4.19$0.35$3.85$0.42$0.55$0.13
2019Detailed filing. Detailed filing data is available for this year.$4.31$0.33$3.98$0.40$0.53$0.13
2018Detailed filing. Detailed filing data is available for this year.$4.47$0.36$4.11$0.39$0.51$0.12
2017Detailed filing. Detailed filing data is available for this year.$4.60$0.37$4.23$0.40$0.53$0.13
2016Detailed filing. Detailed filing data is available for this year.$4.76$0.40$4.36$0.39$0.52$0.13
2015Detailed filing. Detailed filing data is available for this year.$4.89$0.40$4.50$0.40$0.49$0.08
2014Detailed filing. Detailed filing data is available for this year.$4.99$0.41$4.58$0.39$0.52$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.12$0.41$4.72$0.47
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.18$0.45$4.74$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.28$0.47$4.81$0.47