Civic Intelligence

Third Ward Voa Elderly Housing Inc

990 • Fiscal year 2024 • EIN 43-2084606

Jul 01, 2023 to Jun 30, 2024 • Filed on Oct 18, 2024

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

62nd percentile

0.14x

Higher debt load relative to assets than 62% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

0.99x

Higher debt load relative to revenue than 88% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

10th percentile

-29%

Higher net margin than 10% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

97th percentile

$505,657

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 99.8% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

32nd percentile

-1.5%

Faster asset growth than 32% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

75th percentile

32%

Faster revenue growth than 75% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$3,709,430

Down $55,678 (-1.5%) from 2023

Net Assets

Down

$3,206,225

Down $145,232 (-4.3%) from 2023

Liabilities

Up

$503,205

Up $89,554 (+22%) from 2023

Revenue

Up

$506,519

Up $122,710 (+32%) from 2023

Expenses

Up

$651,751

Up $61,628 (+10%) from 2023

Net Income

Up

-$145,232

Up $61,082 (+30%) from 2023

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

2024

Assets$3,709,430
Liabilities$503,205
Net Assets$3,206,225

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

2024

Revenue$506,519
Expenses$651,751
Net Income-$145,232
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 18, 2024
Return Version
2023v5.0
Gross Receipts
$506,519
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$3,499,124$3,352,869▼ $146,255
Prepaid Expenses and Deferred Charges$7,182$63,599▲ $56,417
Accounts Receivable$7,788$7,279▼ $509
Cash and Non-Interest-Bearing Accounts$46,975$5,595▼ $41,380
Total Assets$3,765,108$3,709,430▼ $55,678
Other Assets Total$204,039$280,088▲ $76,049
Liabilities
Mortgage Notes Payable Secured by Investment Property$294,398$294,398→ $0
Accounts Payable and Accrued Expenses$104,121$194,486▲ $90,365
Other Liabilities$14,108$13,005▼ $1,103
Deferred Revenue$1,024$1,316▲ $292
Total Liabilities$413,651$503,205▲ $89,554
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,211,688$5,211,688→ $0
Net Assets Without Donor Restrictions$-1,860,231$-2,005,463▼ $145,232
Total Net Assets Fund Balance$3,351,457$3,206,225▼ $145,232
Total Liabilities and Net Assets / Fund Balance$3,765,108$3,709,430▼ $55,678

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,278,989$2,236,039$5,515,028
Other Land Buildings$13,880$91,125$105,005
Land$60,000-$60,000
Other Assets Org$118--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Kimberly KingAsst. Sec/as$505,657$505,657
Joseph BudzynskiAsst Sec/ass$449,025$449,025
Peter DesjardinsVice Preside$298,349$298,349

Board Members and Trustees

NameTitle
Thomas TurnbullPresident
Peter DesjardinsVice President
Autry JacksonDirector
David NisivocciaDirector
Lucinda FrazierDirector
Melissa LiouDirector
Michele MyersDirector
Pat NorstedtDirector
Randall BurganDirector
Robin KellerAssistant Se
Joseph BudzynskiAsst Sec/asst Treas
Kimberly KingAsst. Sec/asst Treas
Angela WilliamsTreasurer
Linda PrimerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$497,109
Investment Income
$9,410
Other Revenue
$0
Change in Net Assets
$-145,232

Audited Revenue Reconciliation

Revenue per Audited Statements
$506,519
Total Revenue per Audited Statements
$506,519
Total Revenue per Form 990
$506,519
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$524,501
Salaries, Compensation, and Employee Benefits$127,250
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$160,107--$160,107
Depreciation Depletion$146,255--$146,255
Other Salaries and Wages$99,423--$99,423
Fees for Services Management-$31,605-$31,605
Office Expenses$25,266--$25,266
Other Employee Benefits$19,280--$19,280
Fees for Services Accounting-$11,657-$11,657
Payroll Taxes$8,547--$8,547
Insurance$2,351--$2,351
Advertising$1,608--$1,608
Conferences and Meetings-$1,316-$1,316
Fees for Services Legal-$1,004-$1,004
Other Expenses$795$5,160-$795
Total Functional Expenses$601,009$50,742$0$651,751

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$651,751
Total Expenses per Audited Statements$651,751
Total Expenses per Form 990$651,751
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$13,005
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 peter desjardins 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 kimberly king asst. Sec./a dir and/or officer of voa david nisivoccia 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
Peter Desjardins
Title
Vice President
Phone
7033415000
Signed
2024-10-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Desjardins
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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IRS990/OtherExpensesGrp/Desc0OPERATING & MAINTENANCE
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IRS990/PYTotalRevenueAmt0383809
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-145232
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0497109
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0FORGIVENESS OF DEBT 22,500
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt05003
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IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt022500
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98170
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IRS990ScheduleA/PublicSupportTotal509Amt02107735
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02147133
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03278989
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02236039
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05515028
IRS990ScheduleD/ExpensesSubtotalAmt0651751
IRS990ScheduleD/LandGrp/BookValueAmt060000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt060000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0217832
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt142105
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt220033
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3118
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt013880
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt091125
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0105005
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013005
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0506519
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03352869
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0280088
IRS990ScheduleD/TotalExpensesPerForm990Amt0651751
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IRS990ScheduleD/TotalRevenuePerForm990Amt0506519
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0506519
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0651751
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt020128
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt13825
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt2128
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt354306
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1333083
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2255962
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3140036
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt039669
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt165057
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt219092
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt033168
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt143416
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt221070
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt34998
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt02230
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt13644
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt22097
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt321177
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KIMBERLY KING
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JOSEPH BUDZYNSKI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2PETER DESJARDINS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3DAVID NISIVOCCIA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0ASST. SEC/ASST TREAS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1ASST SEC/ASST TREAS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VICE PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0505657
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1449025
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2298349
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt3220517

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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