Civic Intelligence

Voa Somerville Veterans Housing Inc

990 • Fiscal year 2021 • EIN 45-4915532

Jul 01, 2020 to Jun 30, 2021 • Filed on Feb 23, 2022

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

70th percentile

0.23x

Higher debt load relative to assets than 70% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

90th percentile

1.52x

Higher debt load relative to revenue than 90% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

17th percentile

-8.1%

Higher net margin than 17% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$238,332

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 31.1% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

23rd percentile

-1.3%

Faster asset growth than 23% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

58th percentile

20%

Faster revenue growth than 58% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$4,981,462

Down $63,500 (-1.3%) from 2020

Net Assets

Down

$3,814,514

Down $62,043 (-1.6%) from 2020

Liabilities

Down

$1,166,948

Down $1,457 (-0.1%) from 2020

Revenue

Up

$767,147

Up $128,438 (+20%) from 2020

Expenses

Up

$829,190

Up $57,157 (+7.4%) from 2020

Net Income

Up

-$62,043

Up $71,281 (+53%) from 2020

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

2021

Assets$4,981,462
Liabilities$1,166,948
Net Assets$3,814,514

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

2021

Revenue$767,147
Expenses$829,190
Net Income-$62,043
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 23, 2022
Return Version
2020v4.0
Gross Receipts
$767,147
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$4,825,774$4,714,833▼ $110,941
Cash and Non-Interest-Bearing Accounts$80,893$160,807▲ $79,914
Pledges and Grants Receivable$70,114$52,300▼ $17,814
Savings and Temporary Cash Investments$63,372$48,400▼ $14,972
Prepaid Expenses and Deferred Charges$4,809$5,122▲ $313
Total Assets$5,044,962$4,981,462▼ $63,500
Liabilities
Mortgage Notes Payable Secured by Investment Property$895,202$827,346▼ $67,856
Accounts Payable and Accrued Expenses$273,203$339,602▲ $66,399
Total Liabilities$1,168,405$1,166,948▼ $1,457
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,876,557$3,814,514▼ $62,043
Total Net Assets Fund Balance$3,876,557$3,814,514▼ $62,043
Total Liabilities and Net Assets / Fund Balance$5,044,962$4,981,462▼ $63,500

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,064,597$938,871$5,003,468
Land$650,236-$650,236
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charles GagnonPresident
F George DavittDirector
Nabil AbdouCFO
Phil ChadwickTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$596,344
Program Service Revenue
$170,776
Investment Income
$27
Other Revenue
$0
All Other Contributions
$38,539
Change in Net Assets
$-62,043

Audited Revenue Reconciliation

Revenue per Audited Statements
$767,147
Total Revenue per Audited Statements
$767,147
Total Revenue per Form 990
$767,147
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$435,552
Other Expenses$393,638
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$366,304--$366,304
Depreciation Depletion$138,738--$138,738
Occupancy$136,681--$136,681
Other Employee Benefits$47,842--$47,842
Fees for Services Management-$32,100-$32,100
Insurance$25,966--$25,966
Fees for Services Accounting-$25,276-$25,276
Payroll Taxes$21,406--$21,406
Interest$11,142--$11,142
Information Technology$9,108--$9,108
Office Expenses$7,876--$7,876
Fees for Services Other-$3,641-$3,641
Other Expenses$600--$600
Total Functional Expenses$768,173$61,017$0$829,190

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$829,190
Total Expenses per Audited Statements$829,190
Total Expenses per Form 990$829,190
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$238,165
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
Charles Gagnon
Title
President
Phone
6175228086
Signed
2022-02-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Gagnon
Formed
2012
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
2
Employees
10

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/Total509Grp/TotalAmt03170974
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03171265
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IRS990ScheduleD/BuildingsGrp/BookValueAmt04064597
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0938871
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IRS990ScheduleD/LandGrp/BookValueAmt0650236
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0650236
IRS990ScheduleD/RevenueSubtotalAmt0767147
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04714833
IRS990ScheduleD/TotalExpensesPerForm990Amt0829190
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0NABIL ABDOU
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CHARLES GAGNON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0BOARD MEMBERS AND OFFICERS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1BOARD MEMBERS AND OFFICER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt132100
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0DEVELOPER FEE LOAN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1MANAGEMENT FEE
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS AND OFFICERS ARE ALSO BOARD MEMBERS AND OFFIDERS OF VOAMA. VOAMA 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. VOAMA DONATED THE FEE DURING 2021. 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, 2021, ACCRUED INTEREST TOTALED 35,206.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
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/DivRelatedOrganizationInd0false
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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
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HUMAN SERV
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0441 CENTRE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0JAMAICA PLAIN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt132100
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt232100
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0DEVELOPMENT FEE AGREEMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1MANAGEMENT AGREEMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2MANAGEMENT AGREEMENT
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
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0768173
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