Civic Intelligence

Voa Somerville Veterans Housing Inc

990 • Fiscal year 2020 • EIN 45-4915532

Jul 01, 2019 to Jun 30, 2020 • Filed on Apr 06, 2020

441 Centre StreetJamaica Plain, MA 02130

(617) 522-8086

Siviq Scores

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

Liabilities / Assets

57th percentile

0.23x

Higher debt load relative to assets than 57% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

87th percentile

1.83x

Higher debt load relative to revenue than 87% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

14th percentile

-21%

Higher net margin than 14% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

76th percentile

$200,854

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 31.4% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

26th percentile

-0.7%

Faster asset growth than 26% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

44th percentile

-0.3%

Faster revenue growth than 44% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Down

$5,044,962

Down $35,115 (-0.7%) from 2019

Net Assets

Down

$3,876,557

Down $133,324 (-3.3%) from 2019

Liabilities

Up

$1,168,405

Up $98,209 (+9.2%) from 2019

Revenue

Down

$638,709

Down $1,789 (-0.3%) from 2019

Expenses

Up

$772,033

Up $7,845 (+1.0%) from 2019

Net Income

Down

-$133,324

Down $9,634 (-7.8%) from 2019

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $4,605,282Liabilities 2013: $2,219,209Net Assets 2013: $2,386,0732013Assets 2014: $6,071,384Liabilities 2014: $1,408,218Net Assets 2014: $4,663,1662014Assets 2015: $5,963,097Liabilities 2015: $1,426,637Net Assets 2015: $4,536,4602015Assets 2016: $5,811,625Liabilities 2016: $1,426,138Net Assets 2016: $4,385,4872016Assets 2017: $5,358,374Liabilities 2017: $1,055,026Net Assets 2017: $4,303,3482017Assets 2018: $5,207,640Liabilities 2018: $1,074,069Net Assets 2018: $4,133,5712018Assets 2019: $5,080,077Liabilities 2019: $1,070,196Net Assets 2019: $4,009,8812019Assets 2020: $5,044,962Liabilities 2020: $1,168,405Net Assets 2020: $3,876,5572020Assets 2021: $4,981,462Liabilities 2021: $1,166,948Net Assets 2021: $3,814,5142021Assets 2022: $4,842,041Liabilities 2022: $936,602Net Assets 2022: $3,905,4392022Assets 2023: $4,945,127Liabilities 2023: $997,975Net Assets 2023: $3,947,1522023Assets 2024: $5,215,939Liabilities 2024: $1,077,432Net Assets 2024: $4,138,5072024Assets 2025: $5,088,025Liabilities 2025: $1,247,717Net Assets 2025: $3,840,3082025

Highlighted filing

2020

Assets$5,044,962
Liabilities$1,168,405
Net Assets$3,876,557

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $2,388,901Expenses 2013: $2,828Net Income 2013: $2,386,0732013Revenue 2014: $2,597,519Expenses 2014: $320,426Net Income 2014: $2,277,0932014Revenue 2015: $447,584Expenses 2015: $574,290Net Income 2015: -$126,7062015Revenue 2016: $481,418Expenses 2016: $632,391Net Income 2016: -$150,9732016Revenue 2017: $552,856Expenses 2017: $634,995Net Income 2017: -$82,1392017Revenue 2018: $572,055Expenses 2018: $741,832Net Income 2018: -$169,7772018Revenue 2019: $640,498Expenses 2019: $764,188Net Income 2019: -$123,6902019Revenue 2020: $638,709Expenses 2020: $772,033Net Income 2020: -$133,3242020Revenue 2021: $767,147Expenses 2021: $829,190Net Income 2021: -$62,0432021Revenue 2022: $883,646Expenses 2022: $792,721Net Income 2022: $90,9252022Revenue 2023: $840,227Expenses 2023: $798,514Net Income 2023: $41,7132023Revenue 2024: $1,067,640Expenses 2024: $876,285Net Income 2024: $191,3552024Revenue 2025: $692,396Expenses 2025: $990,595Net Income 2025: -$298,1992025

Highlighted filing

2020

Revenue$638,709
Expenses$772,033
Net Income-$133,324
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Apr 6, 2020
Return Version
2019v5.0
Gross Receipts
$638,709
Mission and Program Overview

Mission

To provide housing and supportive services to the veterans of the united states military

To provide housing and supportive services to the veterans of the united states military.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,951,367$4,825,774▼ $125,593
Cash and Non-Interest-Bearing Accounts$32,347$80,893▲ $48,546
Pledges and Grants Receivable-$70,114-
Savings and Temporary Cash Investments$63,331$63,372▲ $41
Accounts Receivable$30,547--
Prepaid Expenses and Deferred Charges$2,485$4,809▲ $2,324
Total Assets$5,080,077$5,044,962▼ $35,115
Liabilities
Mortgage Notes Payable Secured by Investment Property$815,114$895,202▲ $80,088
Accounts Payable and Accrued Expenses$255,082$273,203▲ $18,121
Total Liabilities$1,070,196$1,168,405▲ $98,209
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,009,881$3,876,557▼ $133,324
Total Net Assets Fund Balance$4,009,881$3,876,557▼ $133,324
Total Liabilities and Net Assets / Fund Balance$5,080,077$5,044,962▼ $35,115

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,175,538$812,507$4,988,045
Land$650,236-$650,236
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Charles GagnonPresidentPT$68,773$68,773

Board Members and Trustees

NameTitle
F George DavittDirector
Nabil AbdouCFO
Phil ChadwickTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$459,304
Program Service Revenue
$179,364
Investment Income
$41
Other Revenue
$0
All Other Contributions
$147,535
Change in Net Assets
$-133,324

Audited Revenue Reconciliation

Revenue per Audited Statements
$638,709
Total Revenue per Audited Statements
$638,709
Total Revenue per Form 990
$638,709
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$395,424
Other Expenses$376,609
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$330,333--$330,333
Depreciation Depletion$137,966--$137,966
Occupancy$126,168--$126,168
Other Employee Benefits$45,828--$45,828
Fees for Services Management-$32,100-$32,100
Insurance$23,729--$23,729
Fees for Services Accounting-$21,826-$21,826
Payroll Taxes$19,263--$19,263
Interest$10,620--$10,620
Information Technology$10,381--$10,381
Fees for Services Other-$6,586-$6,586
Office Expenses$6,404--$6,404
Travel$785--$785
Conferences and Meetings$44--$44
Total Functional Expenses$711,521$60,512$0$772,033

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$772,033
Total Expenses per Audited Statements$772,033
Total Expenses per Form 990$772,033
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Board Members and OfficersBoard MembersDeveloper Fee LoanNo$234,106
Board Members and OfficersBoard MembersDonationsNo$147,535
Board Members and OfficerBoard MembersManagement FeeNo$32,100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The organizations operations are managed by its sole nonprofit member "volunteers of america of massachusetts, inc." of which its board members are also board members.

Form 990, Page 6, Part VI, Line 6

The organization has one member,volunteers of america of massachustts, inc.

Form 990, Page 6, Part VI, Line 7A

Volunteers of america of ma, inc., the sole member, has the power to elect or appoint board members.

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed and approved by the cfo and a copy is made available to the board.

Form 990, Page 6, Part VI, Line 12C

Annually all board members, senior staff, and program directors complete a conflict of interest disclosure form. Any apparent conflicts are investigated. A report of disclosure results is presented to the board for review/discussion, if necessary.

Form 990, Page 6, Part VI, Line 15A

Compensation is determined by reviewing current trends in compensation for similar positions in the non-profit sector, including use of market compensation data provided by trade associations as well as nationally recognized sources (such as www.salary.com).

Form 990, Page 6, Part VI, Line 15B

Compensation is determined by reviewing current trends in compensation for similar positions in the non-profit sector, including use of market compensation data provided by trade associations as well as nationally recognized sources (such as www.salary.com).

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy, and financial statements are made available upon request. No requests were made during the year.

Filing and Contact Details

Filer

Filer Name
Voa Somerville Veterans Housing
EIN
45-4915532
Phone
6175228086
Address
441 CENTRE STREET, JAMAICA PLAIN, MA 02130

Signing Officer

Name
Nabil Abdou
Title
CFO
Phone
6175228086
Signed
2020-04-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Gagnon
Formed
2012
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
2
Employees
13

Preparer

Firm
Daviskelly Llp
Address
4238 WASHINGTON ST STE 307, BOSTON, MA 02131-2517
Preparer
Randall S Davis
Phone
9787648966
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt0939156
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IRS990ScheduleD/BuildingsGrp/BookValueAmt04175538
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0812507
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04988045
IRS990ScheduleD/ExpensesSubtotalAmt0772033
IRS990ScheduleD/LandGrp/BookValueAmt0650236
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0650236
IRS990ScheduleD/RevenueSubtotalAmt0638709
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04825774
IRS990ScheduleD/TotalExpensesPerForm990Amt0772033
IRS990ScheduleD/TotalRevenuePerForm990Amt0638709
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2BOARD MEMBERS AND OFFICER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBERS
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt232100
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0DONATIONS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1DEVELOPER FEE LOAN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2MANAGEMENT FEE
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0VOAMA SERVES AS THE MANAGEMENT AGENT OF VETERANS CENTER PURSUANT TO A MANAGEMENT AGREEMENT DATED OCTOBER 10, 2012 AND WILL MANAGE ALL ASPECTS OF VETERANS CENTER'S OPERATIONS. VOAMA IS PAID A FEE OF 6% OF ALL COLLECTIONS OF THE VETERANS CENTER. THE AGREEMENT IS IN FORCE FOR A PERIOD OF ONE YEAR AND SHALL CONTINUE THEREAFTER UNTIL TERMINATED BY EITHER PARTY PURSUANT TO THE TERMS OF THE AGREEMENT. THE MANAGEMENT FEE FOR FISCAL YEAR WAS 32,100. DURING 2020, VOAMA DONATED APPROXIMATELY 147,535 TO VOA SOMERVILLE TO COVER MANAGEMENT AND OTHER MISCELLANEOUS FEES INCURRED IN OPERATING THE VETERANS CENTER. AT JUNE 30, 2019, VOAMAS OUTSTANDING COMMITMENT TOTALED 115,435. VOA SOMERVILLE RECEIVED A LOAN OF 202,959 DEVELOPER FEE LOAN FROM VOAMA, DATED OCTOBER 10, 2012. THE LOAN BEARS INTEREST AT 2%. THE LOAN IS SECURED BY A MORTGAGE ON THE VETERANS CENTER AND MATURES ON JUNE 30, 2042. NO PAYMENTS HAVE BEEN MADE AGAINST THIS LOAN. AS OF JUNE 30, 2020, ACCRUED INTEREST TOTALED 31,147.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATIONS OPERATIONS ARE MANAGED BY ITS SOLE NONPROFIT MEMBER "VOLUNTEERS OF AMERICA OF MASSACHUSETTS, INC." OF WHICH ITS BOARD MEMBERS ARE ALSO BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS ONE MEMBER,VOLUNTEERS OF AMERICA OF MASSACHUSTTS, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2VOLUNTEERS OF AMERICA OF MA, INC., THE SOLE MEMBER, HAS THE POWER TO ELECT OR APPOINT BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED AND APPROVED BY THE CFO AND A COPY IS MADE AVAILABLE TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNUALLY ALL BOARD MEMBERS, SENIOR STAFF, AND PROGRAM DIRECTORS COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM. ANY APPARENT CONFLICTS ARE INVESTIGATED. A REPORT OF DISCLOSURE RESULTS IS PRESENTED TO THE BOARD FOR REVIEW/DISCUSSION, IF NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION IS DETERMINED BY REVIEWING CURRENT TRENDS IN COMPENSATION FOR SIMILAR POSITIONS IN THE NON-PROFIT SECTOR, INCLUDING USE OF MARKET COMPENSATION DATA PROVIDED BY TRADE ASSOCIATIONS AS WELL AS NATIONALLY RECOGNIZED SOURCES (SUCH AS WWW.SALARY.COM).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPENSATION IS DETERMINED BY REVIEWING CURRENT TRENDS IN COMPENSATION FOR SIMILAR POSITIONS IN THE NON-PROFIT SECTOR, INCLUDING USE OF MARKET COMPENSATION DATA PROVIDED BY TRADE ASSOCIATIONS AS WELL AS NATIONALLY RECOGNIZED SOURCES (SUCH AS WWW.SALARY.COM).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. NO REQUESTS WERE MADE DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0VOLUNTEERS OF AMERICA OF MA INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0046004304
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HUMAN SERV
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0441 CENTRE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0JAMAICA PLAIN
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt2147535
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1AGREEMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0VOLUNTEERS OF AMERICA OF MA INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1VOLUNTEERS OF AMERICA OF MA INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2VOLUNTERS OF AMERICA OF MA INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1M
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2C
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IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
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IRS990/StatesWhereCopyOfReturnIsFldCd0MA
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0772033
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