Victory Court Inc

990 • Fiscal year 2014 • EIN 45-2954541

Jul 01, 2013 to Jun 30, 2014 • Filed on Dec 10, 2014

Organization Profile N/A

11400 Rockville Pike /20852

(301) 493-6000

Siviq Scores

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

0.60x

Higher debt load relative to assets than 77% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

17.46x

Higher debt load relative to revenue than 98% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

-93%

Higher net margin than 3% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

$331,574

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 54.5% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

28%

Faster asset growth than 90% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

-92%

Faster revenue growth than 1% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Balance Sheet

Liabilities / Assets77th percentile

Assets

$17,791,769

Up $3,860,837 (+28%) from 2013

Net Assets

Down

$7,164,984

Down $647,671 (-8.3%) from 2013

Liabilities

$10,626,785

Up $4,508,508 (+74%) from 2013

Revenue And Expenses

Liabilities / Revenue98th percentile Net Margin3rd percentile

Revenue

Down

$608,471

Down $7,299,900 (-92%) from 2013

Expenses

$1,177,362

Up $1,081,646 (+1130%) from 2013

Net Income

Down

-$568,891

Down $8,381,546 (-107%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

Highlighted filing

2014

Assets$17,791,769

Liabilities$10,626,785

Net Assets$7,164,984

Open 2014 Filing

Operations Trend

Revenue Growth1st percentile

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

Highlighted filing

2014

Revenue$608,471

Expenses$1,177,362

Net Income-$568,891

Open 2014 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2013 to Jun 30, 2014
Signed: Dec 10, 2014
Return Version: 2013v3.1
Gross Receipts: $608,471

Mission and Program Overview

Mission

Affordable housing and services

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Land, Buildings, and Equipment, Net	$1,667,915	$16,742,943	▲ $15,075,028
Intangible Assets	-	$507,659	-
Savings and Temporary Cash Investments	-	$401,354	-
Accounts Receivable	-	$5,405	-
Cash and Non-Interest-Bearing Accounts	$7,261	$500	▼ $6,761
Other Notes and Loans Receivable, Net	-	$0	-
Pledges and Grants Receivable	-	$0	-
Receivable From Disqualified Prsn	-	$0	-
Receivables From Officers Etc	-	$0	-
Investments Other Securities	-	$0	-
Investments Program Related	-	$0	-
Investments in Publicly Traded Securities	-	$0	-
Inventories for Sale or Use	-	$0	-
Prepaid Expenses and Deferred Charges	-	$0	-
Total Assets	$13,930,932	$17,791,769	▲ $3,860,837
Other Assets Total	$12,255,756	$133,908	▼ $12,121,848
Liabilities
Mortgage Notes Payable Secured by Investment Property	$2,874,106	$8,566,145	▲ $5,692,039
Other Liabilities	$1,247,579	$1,623,408	▲ $375,829
Accounts Payable and Accrued Expenses	$1,995,056	$435,540	▼ $1,559,516
Deferred Revenue	$1,536	$1,692	▲ $156
Total Liabilities	$6,118,277	$10,626,785	▲ $4,508,508
Net Assets / Fund Balance
Unrestricted Net Assets	-	$5,587,623	-
Temporarily Rstr Net Assets	$7,812,655	$1,577,361	▼ $6,235,294
Total Net Assets Fund Balance	$7,812,655	$7,164,984	▼ $647,671
Total Liabilities and Net Assets / Fund Balance	$13,930,932	$17,791,769	▲ $3,860,837

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$12,590,236	$213,394	$12,803,630
Leasehold Improvements	$1,857,148	$86,379	$1,943,527
Land	$1,577,361	-	$1,577,361
Other Land Buildings	$695,321	$106,972	$802,293
Equipment	$22,877	$3,927	$26,804

Compensation and Service Providers

Top Officer Pay83rd percentile

Employees

Name	Title	Other	Total
Jeffrey Blackwell	Asst Secretary	$147,662	$147,662

Board Members and Trustees

Name	Title
Paul E Johnson Jr	Chairman
James a Brown Jr	President
John D Spencer	Vice President
Most Rev Barry Knestout	Director
Rev Msgr Ralph Kuehner	Director
Thomas F Duffy	Director
KATHLEEN McWILLIAMS	Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $31,183
Program Service Revenue: $577,281
Investment Income: $7
Other Revenue: $0
All Other Contributions: $3,850
Change in Net Assets: $-568,891

Noncash Contribution Practices

Property subject to holding requirements: No
Reviewed unusual noncash gifts: No
Third parties used for noncash contributions: No

Noncash Contributions

Contribution Type	Contribution Count	Reported Amount	Valuation Method
Real Estate Other	1	$27,333	Present Value
Total Noncash Contributions	1	$27,333	-

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$983,993
Salaries, Compensation, and Employee Benefits	$193,369
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Depreciation Depletion	$437,574	-	-	$437,574
Advertising	$160,685	-	-	$160,685
Other Salaries and Wages	$141,896	-	-	$141,896
Interest	$100,511	-	-	$100,511
Other Employee Benefits	$39,081	-	-	$39,081
Fees for Services Management	-	$36,548	-	$36,548
All Other Expenses	$36,484	-	-	$36,484
Other Expenses	$24,528	-	-	$24,528
Office Expenses	$13,093	-	-	$13,093
Payroll Taxes	$12,392	-	-	$12,392
Travel	$9,778	-	-	$9,778
Fees for Services Legal	$4,358	-	-	$4,358
Total Functional Expenses	$1,140,814	$36,548	$0	$1,177,362

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Lobbying activity: No
Subject to proxy tax: No

Insider Transactions and Loans

Loans and Receivables

Line Item	Beginning	End	Change
Receivables from Disqualified Persons	-	$0	-
Receivables from Officers, Directors, Trustees, and Key Employees	-	$0	-

Related Organizations and Partnerships

Related Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
52-1261881	-	Real Estate	501(c)(3)	509(a)(2)	No
52-2219830	-	Real Estate	501(c)(3)	509(a)(2)	No
52-2028130	-	Real Estate	501(c)(3)	509(a)(2)	No
20-2023995	-	Real Estate	501(c)(3)	509(a)(2)	No
52-1845215	-	Real Estate	501(c)(3)	509(a)(2)	No
52-2131149	-	Real Estate	501(c)(3)	509(a)(2)	No
54-1592075	-	Real Estate	501(c)(3)	509(a)(2)	No
52-1901039	-	Real Estate	501(c)(3)	509(a)(2)	No
52-2356746	-	Real Estate	501(c)(3)	509(a)(2)	No
32-0021451	-	Real Estate	501(c)(3)	509(a)(2)	No
20-2024019	-	Real Estate	501(c)(3)	509(a)(2)	No
52-1681046	-	Real Estate	501(c)(3)	509(a)(2)	No
30-0017331	-	Real Estate	501(c)(3)	509(a)(2)	No
52-2293450	-	Real Estate	501(c)(3)	509(a)(2)	No
14-1869907	-	Real Estate	501(c)(3)	509(a)(2)	No
52-2231301	-	Real Estate	501(c)(3)	509(a)(2)	No
26-0040672	-	Real Estate	501(c)(3)	509(a)(2)	No
52-1979394	-	Real Estate	501(c)(3)	509(a)(2)	No
20-8067069	-	Real Estate	501(c)(3)	509(a)(2)	No
20-4714838	-	Real Estate	501(c)(3)	509(a)(2)	No
26-4381436	-	Real Estate	501(c)(3)	509(a)(2)	No
45-2954541	-	Real Estate	501(c)(3)	509(a)(2)	No
45-3693816	-	Real Estate	501(c)(3)	509(a)(2)	No
46-2901904	-	Real Estate	501(c)(3)	509(a)(2)	No
56-2623529	-	Real Estate	501(c)(3)	509(a)(2)	No

Related Partnerships and Joint Ventures

Organization	Location	Activity	Income	Assets	Ownership	Managing Partner
20-3924051	-	Real Estate	$-137,189	$2,011,123	0.01%	Yes
27-2371765	-	Real Estate	$-41	$2,636	0.01%	Yes
52-2208089	-	Real Estate	$-63	$2,213	0.00%	Yes
03-0469442	-	Real Estate	$-548,277	$1,270	0.01%	Yes
26-2341421	-	Real Estate	$-2	$1,261	0.01%	Yes
26-2133960	-	Real Estate	$-2	$1,117	0.01%	Yes
01-0693911	-	Real Estate	$14	$1,084	0.01%	Yes
20-5732161	-	Real Estate	$-19	$1,061	25%	Yes
27-3279190	-	Real Estate	-	-	0.01%	Yes
46-5488566	-	Real Estate	-	-	0.01%	Yes
56-2623539	-	Real Estate	-	-	0.01%	Yes

Disregarded Entities

Entity	Location	Activity	Income	Assets	Controller
52-2319037	-	Real Estate	$-39,878	$3,096,883	-
52-2322476	-	Real Estate	$-39,878	$3,096,883	-
75-3038747	-	Real Estate	$-41	$2,636	-
56-2623531	-	Real Estate	-	-	-

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Development Fee Payable	$1,589,905
Resident Security Deposits	$27,360
Long-term Deferred Income	$6,143

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: No
Annual disclosure for covered persons: Yes
Audit committee: No
Backup withholding compliance: 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: No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Draft of form 990 is provided to board members for review and approval prior to filing.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“UPON REQUEST”

Filing and Contact Details

Filer

EIN: 45-2954541
Phone: 3014936000

Signing Officer

Name: James A Brown Jr
Title: President
Signed: 2014-12-10

Organization Details

Principal Officer: James a Brown Jr
Formed: 2011
Legal Domicile: Md
Voting Board Members: 3
Independent Board Members: 3
Employees: 0

Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Net assets released = -$78780”

Raw XML AppendixShowing 400 of 1,067 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/IRPDocumentW2GCnt	0	0
IRS990/LandBldgEquipAccumDeprecAmt	0	410672
IRS990/LandBldgEquipBasisNetGrp/BOYAmt	0	1667915
IRS990/LandBldgEquipBasisNetGrp/EOYAmt	0	16742943
IRS990/LandBldgEquipCostOrOtherBssAmt	0	17153615
IRS990/LegalDomicileStateCd	0	MD
IRS990/LicensedMoreThanOneStateInd	0	false
IRS990/LoanOutstandingInd	0	false
IRS990/LobbyingActivitiesInd	0	false
IRS990/LocalChaptersInd	0	false
IRS990/MaterialDiversionOrMisuseInd	0	false
IRS990/MembersOrStockholdersInd	0	false
IRS990/MethodOfAccountingAccrualInd	0	X
IRS990/MinutesOfCommitteesInd	0	false
IRS990/MinutesOfGoverningBodyInd	0	true
IRS990/MissionDesc	0	AFFORDABLE HOUSING AND SERVICES
IRS990/MoreThan5000KToIndividualsInd	0	false
IRS990/MoreThan5000KToOrgInd	0	false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt	0	2874106
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt	0	8566145
IRS990/NetAssetsOrFundBalancesBOYAmt	0	7812655
IRS990/NetAssetsOrFundBalancesEOYAmt	0	7164984
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt	0	0
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt	0	0
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt	0	0
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt	0	0
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt	0	0
IRS990/NoncashContributionsAmt	0	27333
IRS990/NondeductibleContributionsInd	0	false
IRS990/OccupancyGrp/TotalAmt	0	0
IRS990/OfficeExpensesGrp/ProgramServicesAmt	0	13093
IRS990/OfficeExpensesGrp/TotalAmt	0	13093
IRS990/OfficerMailingAddressInd	0	false
IRS990/OnBehalfOfIssuerInd	0	false
IRS990/OperateHospitalInd	0	false
IRS990/Organization501c3Ind	0	X
IRS990/OrganizationFollowsSFAS117Ind	0	X
IRS990/OrgFiledInLieuOfForm1041Ind	0	false
IRS990/OtherAssetsTotalGrp/BOYAmt	0	12255756
IRS990/OtherAssetsTotalGrp/EOYAmt	0	133908
IRS990/OtherChangesInNetAssetsAmt	0	-78780
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt	0	39081
IRS990/OtherEmployeeBenefitsGrp/TotalAmt	0	39081
IRS990/OtherExpensesGrp/Desc	0	REPAIRS / MAINTENANCE
IRS990/OtherExpensesGrp/Desc	1	GROUND LEASE
IRS990/OtherExpensesGrp/Desc	2	UTILITIES
IRS990/OtherExpensesGrp/Desc	3	RENTING EXPENSES
IRS990/OtherExpensesGrp/ProgramServicesAmt	0	92365
IRS990/OtherExpensesGrp/ProgramServicesAmt	1	37058
IRS990/OtherExpensesGrp/ProgramServicesAmt	2	31011
IRS990/OtherExpensesGrp/ProgramServicesAmt	3	24528
IRS990/OtherExpensesGrp/TotalAmt	0	92365
IRS990/OtherExpensesGrp/TotalAmt	1	37058
IRS990/OtherExpensesGrp/TotalAmt	2	31011
IRS990/OtherExpensesGrp/TotalAmt	3	24528
IRS990/OtherLiabilitiesGrp/BOYAmt	0	1247579
IRS990/OtherLiabilitiesGrp/EOYAmt	0	1623408
IRS990/OtherRevenueTotalAmt	0	0
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt	0	141896
IRS990/OtherSalariesAndWagesGrp/TotalAmt	0	141896
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt	0	0
IRS990/PartialLiquidationInd	0	false
IRS990/PaymentsToAffiliatesGrp/TotalAmt	0	0
IRS990/PayPremiumsPrsnlBnftCntrctInd	0	false
IRS990/PayrollTaxesGrp/ProgramServicesAmt	0	12392
IRS990/PayrollTaxesGrp/TotalAmt	0	12392
IRS990/PensionPlanContributionsGrp/TotalAmt	0	0
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt	0	0
IRS990/PoliticalCampaignActyInd	0	false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt	0	0
IRS990/PrincipalOfficerNm	0	JAMES A BROWN JR
IRS990/ProfessionalFundraisingInd	0	false
IRS990/ProgramServiceRevenueGrp/BusinessCd	0	531110
IRS990/ProgramServiceRevenueGrp/BusinessCd	1	531110
IRS990/ProgramServiceRevenueGrp/BusinessCd	2	531110
IRS990/ProgramServiceRevenueGrp/BusinessCd	3	531110
IRS990/ProgramServiceRevenueGrp/Desc	0	AFFORDABLE HOUSING
IRS990/ProgramServiceRevenueGrp/Desc	1	Fees & Contracts Gov Agencies
IRS990/ProgramServiceRevenueGrp/Desc	2	MISCELLANEOUS INCOME
IRS990/ProgramServiceRevenueGrp/Desc	3	MISCELLANEOUS INCOME VHI
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	456000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	1	65558
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	2	4277
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	3	51446
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	0	456000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	1	65558
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	2	4277
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	3	51446
IRS990/ProhibitedTaxShelterTransInd	0	false
IRS990/PYContributionsGrantsAmt	0	7851454
IRS990/PYExcessBenefitTransInd	0	false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt	0	0
IRS990/PYOtherExpensesAmt	0	86652
IRS990/PYProgramServiceRevenueAmt	0	56917
IRS990/PYRevenuesLessExpensesAmt	0	7812655
IRS990/PYSalariesCompEmpBnftPaidAmt	0	9064
IRS990/PYTotalExpensesAmt	0	95716
IRS990/PYTotalRevenueAmt	0	7908371
IRS990/QuidProQuoContributionsInd	0	false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt	0	0
IRS990/RcvFndsToPayPrsnlBnftCntrctInd	0	false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt	0	0
IRS990/ReconcilationRevenueExpnssAmt	0	-568891
IRS990/RegularMonitoringEnfrcInd	0	true
IRS990/RelatedEntityInd	0	true
IRS990/RelatedOrganizationCtrlEntInd	0	false
IRS990/ReportInvestmentsOtherSecInd	0	false
IRS990/ReportLandBuildingEquipmentInd	0	true
IRS990/ReportOtherAssetsInd	0	false
IRS990/ReportOtherLiabilitiesInd	0	true
IRS990/ReportProgramRelatedInvstInd	0	false
IRS990/RoyaltiesGrp/TotalAmt	0	0
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt	0	0
IRS990/SavingsAndTempCashInvstGrp/EOYAmt	0	401354
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt	0	0
IRS990ScheduleA/First5Years509Ind	0	X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt	0	31183
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt	0	7851454
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt	0	7882637
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt	0	0
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt	0	7
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt	0	7
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt	0	521558
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt	0	521558
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt	0	0
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt	0	7
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt	0	7
IRS990ScheduleA/InvestmentIncomeCYPct	0	0.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt	0	0
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt	0	55723
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt	0	56917
IRS990ScheduleA/OtherIncome509Grp/TotalAmt	0	112640
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt	0	0
IRS990ScheduleA/PubliclySupportedOrg509a2Ind	0	X
IRS990ScheduleA/PublicSupportCY509Pct	0	0.00000
IRS990ScheduleA/PublicSupportTotal509Amt	0	8404195
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt	0	0
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt	0	0
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt	0	552741
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt	0	7851454
IRS990ScheduleA/Total509Grp/TotalAmt	0	8404195
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt	0	608471
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt	0	7908371
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt	0	8516842
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	0	RESTRICTED
IRS990/ScheduleBRequiredInd	0	true
IRS990ScheduleD/BuildingsGrp/BookValueAmt	0	12590236
IRS990ScheduleD/BuildingsGrp/DepreciationAmt	0	213394
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt	0	12803630
IRS990ScheduleD/EquipmentGrp/BookValueAmt	0	22877
IRS990ScheduleD/EquipmentGrp/DepreciationAmt	0	3927
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt	0	26804
IRS990ScheduleD/LandGrp/BookValueAmt	0	1577361
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt	0	1577361
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt	0	1857148
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt	0	86379
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt	0	1943527
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt	0	695321
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt	0	106972
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt	0	802293
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	0	1589905
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	1	6143
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	2	27360
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	DEVELOPMENT FEE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	1	LONG-TERM DEFERRED INCOME
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	2	RESIDENT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt	0	16742943
IRS990ScheduleD/TotalLiabilityAmt	0	1623408
IRS990ScheduleJ/AnyNonFixedPaymentsInd	0	false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd	0	false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd	0	false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd	0	false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd	0	false
IRS990ScheduleJ/EquityBasedCompArrngmInd	0	false
IRS990ScheduleJ/InitialContractExceptionInd	0	false
IRS990ScheduleJ/RebuttablePresumptionProcInd	0	false
IRS990/ScheduleJRequiredInd	0	true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	0	331574
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt	1	165486
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	0	JAMES A BROWN JR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm	1	JOHN D SPENCER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	0	President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt	1	Vice President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	0	331574
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt	1	165486
IRS990ScheduleJ/SeverancePaymentInd	0	false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd	0	false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd	0	false
IRS990ScheduleM/RealEstateOtherGrp/ContributionCnt	0	1
IRS990ScheduleM/RealEstateOtherGrp/MethodOfDeterminingRevenuesTxt	0	PRESENT VALUE
IRS990ScheduleM/RealEstateOtherGrp/NonCashCheckboxInd	0	X
IRS990ScheduleM/RealEstateOtherGrp/NoncashContributionsRptF990Amt	0	27333
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd	0	false
IRS990ScheduleM/ThirdPartiesUsedInd	0	false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $17,791,769
Liabilities: $10,626,785
Net assets: $7,164,984
Revenue: $608,471
Expenses: $1,177,362
Net income: -$568,891

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$11.9	$8.60	$3.33	$1.52	$1.72	$0.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$12.4	$8.72	$3.66	$1.49	$1.80	$0.31
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$12.9	$8.91	$3.97	$1.54	$1.86	$0.33
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$13.4	$9.06	$4.29	$1.51	$1.92	$0.41
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$13.9	$9.17	$4.71	$1.48	$2.08	$0.60
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$14.6	$9.27	$5.31	$1.45	$1.85	$0.41
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$15.1	$9.39	$5.71	$1.46	$2.05	$0.59
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$15.8	$9.49	$6.30	$1.50	$1.86	$0.35
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$16.8	$10.1	$6.65	$1.43	$1.70	$0.27
2015Detailed filing. Detailed filing data is available for this year.	$18.0	$11.1	$6.92	$1.41	$1.65	$0.24
2014Detailed filing. Detailed filing data is available for this year.	$17.8	$10.6	$7.16	$0.61	$1.18	$0.57
2013Summary only. Only limited summary data is available for this year.	$13.9	$6.12	$7.81	$7.91	$0.10	$7.81
2012Summary only. Only limited summary data is available for this year.	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00