Civic Intelligence

Voans Pace Holding Company

990 • Fiscal year 2017 • EIN 46-5041242

Jul 01, 2016 to Jun 30, 2017 • Filed on May 07, 2018

7530 Market Place DriveEden Prairie, MN 55344

(952) 941-0305

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.58x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

1.03x

Higher debt load relative to revenue than 86% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

98th percentile

$538,642

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 23.7% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

24th percentile

-3.5%

Faster asset growth than 24% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

81st percentile

33%

Faster revenue growth than 81% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$4,038,460

Down $145,820 (-3.5%) from 2016

Net Assets

Down

$1,708,217

Down $255,797 (-13%) from 2016

Liabilities

Up

$2,330,243

Up $109,977 (+5.0%) from 2016

Revenue

Up

$2,273,047

Up $570,274 (+33%) from 2016

Expenses

Up

$2,528,844

Up $2,400,354 (+1868%) from 2016

Net Income

Down

-$255,797

Down $1,830,080 (-116%) from 2016

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2015: $2,690,236Liabilities 2015: $2,300,505Net Assets 2015: $389,7312015Assets 2016: $4,184,280Liabilities 2016: $2,220,266Net Assets 2016: $1,964,0142016Assets 2017: $4,038,460Liabilities 2017: $2,330,243Net Assets 2017: $1,708,2172017Assets 2018: $4,204,448Liabilities 2018: $2,538,429Net Assets 2018: $1,666,0192018Assets 2019: $3,727,055Liabilities 2019: $2,000,323Net Assets 2019: $1,726,7322019Assets 2020: $4,026,808Liabilities 2020: $2,002,467Net Assets 2020: $2,024,3412020Assets 2021: $4,063,127Liabilities 2021: $2,005,091Net Assets 2021: $2,058,0362021Assets 2022: $6,471,107Liabilities 2022: $4,602,078Net Assets 2022: $1,869,0292022Assets 2023: $8,178,984Liabilities 2023: $6,582,733Net Assets 2023: $1,596,2512023Assets 2024: $8,173,282Liabilities 2024: $6,962,825Net Assets 2024: $1,210,4572024

Highlighted filing

2017

Assets$4,038,460
Liabilities$2,330,243
Net Assets$1,708,217

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2015: $516,608Expenses 2015: $126,877Net Income 2015: $389,7312015Revenue 2016: $1,702,773Expenses 2016: $128,490Net Income 2016: $1,574,2832016Revenue 2017: $2,273,047Expenses 2017: $2,528,844Net Income 2017: -$255,7972017Revenue 2018: $2,635,752Expenses 2018: $2,677,950Net Income 2018: -$42,1982018Revenue 2019: $2,201,655Expenses 2019: $2,140,942Net Income 2019: $60,7132019Revenue 2020: $4,259,561Expenses 2020: $3,961,952Net Income 2020: $297,6092020Revenue 2021: $8,985,752Expenses 2021: $8,952,057Net Income 2021: $33,6952021Revenue 2022: $6,862,609Expenses 2022: $7,051,616Net Income 2022: -$189,0072022Revenue 2023: $2,499,040Expenses 2023: $2,771,818Net Income 2023: -$272,7782023Revenue 2024: $2,394,040Expenses 2024: $2,779,834Net Income 2024: -$385,7942024

Highlighted filing

2017

Revenue$2,273,047
Expenses$2,528,844
Net Income-$255,797
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 7, 2018
Return Version
2016v3.0
Gross Receipts
$2,273,047
Mission and Program Overview

Mission

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,143,313$2,510,204▲ $366,891
Cash and Non-Interest-Bearing Accounts$1,989,077$1,490,847▼ $498,230
Total Assets$4,184,280$4,038,460▼ $145,820
Other Assets Total$51,890$37,409▼ $14,481
Liabilities
Other Liabilities$2,220,266$2,330,243▲ $109,977
Total Liabilities$2,220,266$2,330,243▲ $109,977
Net Assets / Fund Balance
Unrestricted Net Assets$1,964,014$1,708,217▼ $255,797
Total Net Assets Fund Balance$1,964,014$1,708,217▼ $255,797
Total Liabilities and Net Assets / Fund Balance$4,184,280$4,038,460▼ $145,820
Compensation and Service Providers

Board Members and Trustees

NameTitle
Burks JaneBoard Chair
King Michael WPresident & CEO
Kikumoto C DavidVice Chairman
Arnold PattiDirector
Cooper WillDirector
Dale KarenDirector
Edeburn AndyDirector
Knapp KeithDirector
Leblanc JamesDirector
Rase NancyDirector
Sullivan MichaelDirector
Wakefield SteveDirector
Keller Cynthia RAsst. Secretary
Sheridan Patrick NAsst. Secretary
Gavin Nancy aAsst. Secretary/Treasurer
Perry Deborah aAsst. Secretary/Treasurer
Turnbull Thomas DAsst. Secretary/Treasurer
Budzynski Joseph aAsst. Secretary/Treasurer & CFO
Olson Wayne CEVP, healthcare oper. & develop.
Carrington EdwinaSecretary
Moore CarolTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,250,000
Investment Income
$23,047
Other Revenue
$0
Change in Net Assets
$-255,797

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,273,047
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,273,047
Total Revenue per Form 990
$2,273,047
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,528,844
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$2,400,000--$2,400,000
Interest$110,000--$110,000
Depreciation Depletion$14,336$145-$14,481
Office Expenses$3,633--$3,633
Insurance$600$7-$607
Other Expenses$123--$123
Total Functional Expenses$2,528,692$152$0$2,528,844

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,528,844
Total Expenses per Audited Statements$2,528,844
Total Expenses per Form 990$2,528,844
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
related long term debt - voans holding company$2,000,000
other long term liabilities$330,000
intercompany payable$243
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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
No

Governance Explanations

Form 990, Part VI, Section A, line 2

Michael king, joseph budzynski, thomas turnbull, patrick sheridan, wayne olson, deborah perry, nancy gavin, and cynthia keller have business relationships with each other, because they serve as directors, officers, and/or key employees of volunteers of america, inc., volunteers of america national services, and/or their related organizations.

Form 990, Part VI, Section A, line 6

VOA National Services is a member.

Form 990, Part VI, Section A, line 7A

VOA National Services has the right to elect or appoint directors.

Form 990, Part VI, Section A, line 7B

VOA National Services approves amendments to the articles and bylaws.

Form 990, Part VI, Section B, line 11B

The tax return is provided to the Board of Directors for review. The board has 5 days to review and give comments on the return. After the comment period, any changes will be made to the return. The Board of Directors is then provided a complete copy of the final return upon filing.

Form 990, Part VI, Section B, 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 potential conflicts arise. Potential conflicts of interest are reviewed by the Board of Directors.

Form 990, Part VI, Section B, line 15

The organization's president and ceo is not compensated by the organization but is compensated by a related organization, volunteers of america, inc. Volunteers of america's process for determining compensation of the organization's president and ceo, officers, and key employees includes review and approval by a compensation committee formed of independent members appointed by the board of directors. The compensation committee conducts a market compensation analysis review every year and reports their conclusions to the board of directors.

Form 990, Part VI, Section C, line 19

The governing documents, conflict of interest policy, and financial statements are available upon request.

Part VI, Section B, Line 13:

the organization follows the whistleblower policy adopted by its corporate parent, volunteers of america national services.

Part VI, Section B, Line 14:

The organization follows the document retention and destruction policy adopted by its corporate parent, volunteers of america national services.

Filing and Contact Details

Filer

Filer Name
Voans Pace Holding Company
EIN
46-5041242
Phone
9529410305
Address
7530 Market Place Drive, Eden Prairie, MN 55344

Signing Officer

Name
Nancy Gavin
Title
VP Financial Services
Phone
9529410305
Signed
2018-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Budzynski
Formed
2014
Legal Domicile
Mn
Voting Board Members
14
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Baker Tilly Virchow Krause LLP
Address
225 S 6th St 2300, Minneapolis, MN 55402
Preparer
Lawrence H Mohr CPA
Phone
6128764500
Supplemental Narrative

Additional Explanations

Part I, Line 1 and Part III, Line 1:

ESTABLISHED IN 1896, VOLUNTEERS OF AMERICA IS A NATIONAL, NONPROFIT, FAITH-BASED ORGANIZATION PROVIDING SERVICES SUCH AS HOUSING AND HEALTHCARE TO MORE THAN 2 MILLION PEOPLE IN OVER 400 COMMUNITIES EACH YEAR. IN SUPPORT OF THAT MISSION, voans pace holding company WAS ORGANIZED AND IS OPERATED TO ENGAGE IN, ADVANCE SUPPORT, PROMOTE, AND ADMINISTER HEALTH AND HEALTH-RELATED SERVICES AND SUPPORTIVE SERVICES TO SENIORS AND DISABLED INDIVIDUALS through programs of all-inclusive care for the elderly (PACE).

Financial Statement Notes

Part X, Line 2:

The organization is exempt from income taxes under Section 501(c)3 of the internal revenue code and applicable state statutes. The organization has evaluated its tax positions for uncertainty and has no unrecognized tax matters that are required to be disclosed. The organization had no income tax expense and there were no cash payments for income taxes in 2017 and 2016.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt13422698
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt14269758
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt15322407
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt16231871
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt17144375
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt18162877
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt1988525
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20328569
IRS990/Form990PartVIISectionAGrp/TitleTxt0Board Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt14Asst. Secretary/Treasurer & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt15Asst. Secretary/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt16Asst. Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt17Asst. Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt18Asst. Secretary/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt19Asst. Secretary/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt20EVP, healthcare oper. & develop.
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IRS990/FormationYr02014
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt014
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt02273047
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
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IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InsuranceGrp/ProgramServicesAmt0600
IRS990/InsuranceGrp/TotalAmt0607
IRS990/InterestGrp/ProgramServicesAmt0110000
IRS990/InterestGrp/TotalAmt0110000
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt023047
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IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0SEE SCHEDULE O
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01964014
IRS990/NetAssetsOrFundBalancesEOYAmt01708217
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ProgramServicesAmt03633
IRS990/OfficeExpensesGrp/TotalAmt03633
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt037409
IRS990/OtherChangesInNetAssetsAmt00
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IRS990/PartialLiquidationInd00
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Joseph Budzynski
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt019908
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0496700
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt04346700
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt019908
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IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01600000
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0496700
IRS990ScheduleA/Total509Grp/TotalAmt04346700
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02273047
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01702772
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0516608
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04492427
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1330000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22000000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0intercompany payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1other long term liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2related long term debt - voans holding company
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02273047
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization is exempt from income taxes under Section 501(c)3 of the internal revenue code and applicable state statutes. The organization has evaluated its tax positions for uncertainty and has no unrecognized tax matters that are required to be disclosed. The organization had no income tax expense and there were no cash payments for income taxes in 2017 and 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02273047
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt50
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt70
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20

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