Liabilities / Assets
84th percentile
Higher debt load relative to assets than 84% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.74x
Liabilities / Revenue
93rd percentile
Higher debt load relative to revenue than 93% of similar nonprofits.
Net Margin
83rd percentile
Higher net margin than 83% of similar nonprofits.
Top Officer Pay
12th percentile
Higher top officer pay than 12% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
58th percentile
Faster asset growth than 58% of similar nonprofits.
Revenue Growth
86th percentile
Faster revenue growth than 86% of similar nonprofits.
Balance Sheet
Assets
Up$23,480,365
Up $1,243,099 (+5.6%) from 2013
Net Assets
Up$6,135,843
Up $2,709,925 (+79%) from 2013
Liabilities
Down$17,344,522
Down $1,466,826 (-7.8%) from 2013
Revenue And Expenses
Revenue
Up$4,270,951
Up $1,140,869 (+36%) from 2013
Expenses
Down$3,031,327
Down $284,124 (-8.6%) from 2013
Net Income
Up$1,239,624
Up $1,424,993 (+769%) from 2013
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2014 to Dec 31, 2014
- Signed
- Nov 6, 2015
- Return Version
- 2014v5.0
- Gross Receipts
- $4,270,951
Mission and Program Overview
Mission
To engage in community development activities and provide safe and decent activities to low- to-moderate-income persons.
Vision communities, inc. Is an indiana nonprofit corporation formed on july 26, 2002, to engage in community development activities that foster and support the relief for the poor and distressed, or of the underprivileged, the promotion of social welfare, the lessening of neighborhood tensions, the elimination of prejudice and discrimination or the combating or community deterioration and juvenile delinquency, and to provide safe and decent housing to low-to-moderate-income persons.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $14,497,243 | $14,108,438 | ▼ $388,805 |
| Other Notes and Loans Receivable, Net | $5,087,208 | $6,489,258 | ▲ $1,402,050 |
| Investments Program Related | $689,162 | $714,498 | ▲ $25,336 |
| Accounts Receivable | $171,781 | $529,806 | ▲ $358,025 |
| Intangible Assets | $515,252 | $426,047 | ▼ $89,205 |
| Cash and Non-Interest-Bearing Accounts | $415,489 | $284,507 | ▼ $130,982 |
| Prepaid Expenses and Deferred Charges | $145,732 | $119,990 | ▼ $25,742 |
| Total Assets | $22,237,266 | $23,480,365 | ▲ $1,243,099 |
| Other Assets Total | $715,399 | $807,821 | ▲ $92,422 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $16,421,125 | $16,131,651 | ▼ $289,474 |
| Accounts Payable and Accrued Expenses | $1,496,242 | $695,181 | ▼ $801,061 |
| Other Liabilities | $851,133 | $479,606 | ▼ $371,527 |
| Deferred Revenue | $42,848 | $38,084 | ▼ $4,764 |
| Total Liabilities | $18,811,348 | $17,344,522 | ▼ $1,466,826 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $3,425,918 | $6,135,843 | ▲ $2,709,925 |
| Total Net Assets Fund Balance | $3,425,918 | $6,135,843 | ▲ $2,709,925 |
| Total Liabilities and Net Assets / Fund Balance | $22,237,266 | $23,480,365 | ▲ $1,243,099 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $12,484,788 | $1,502,043 | $13,986,831 |
| Land | $795,065 | - | $795,065 |
| Equipment | $440,024 | $233,316 | $673,340 |
| Leasehold Improvements | $388,561 | $108,305 | $496,866 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| David Flaherty | President |
| Brian L Ploss | Vice President |
| David Bartus | Director |
| Doug Hannoy | Director |
| Jerry Collins | Secretary |
| Dave Keller | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $1,031,011
- Program Service Revenue
- $2,890,586
- Investment Income
- $775
- Other Revenue
- $348,579
- Change in Net Assets
- $1,239,624
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $4,270,951
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $0
- Total Revenue per Audited Statements
- $4,270,951
- Total Revenue per Form 990
- $4,270,951
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $3,015,827 |
| Grants and Similar Amounts Paid | $15,500 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Occupancy | $1,856,156 | - | - | $1,856,156 |
| Depreciation Depletion | $468,676 | - | - | $468,676 |
| Fees for Services Management | - | $180,557 | - | $180,557 |
| Office Expenses | $73,875 | - | - | $73,875 |
| Fees for Services Accounting | - | $47,350 | - | $47,350 |
| Fees for Services Legal | - | $36,962 | - | $36,962 |
| Information Technology | $16,814 | - | - | $16,814 |
| Grants to Domestic Orgs | $15,500 | - | - | $15,500 |
| Travel | - | $15,324 | - | $15,324 |
| Advertising | $8,552 | - | - | $8,552 |
| Insurance | $6,393 | - | - | $6,393 |
| Other Expenses | $43,933 | $5,000 | - | $5,000 |
| Conferences and Meetings | - | $1,804 | - | $1,804 |
| Total Functional Expenses | $2,744,330 | $286,997 | $0 | $3,031,327 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $3,152,528 |
| Expenses per Audited Statements | $3,031,327 |
| Total Expenses per Form 990 | $3,031,327 |
| Expenses Not Reported on Form 990 | $121,201 |
| Expenses Not Reported on Financial Statements | $0 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Local Initiatives Support Corporation | New York, NY | 501(c)(3) | To Assist Organization With Mission of Transforming Distressed Neighborhoods Throughout Urban and Rural Areas of the United States | $5,000 |
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
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Due to F&c | $395,000 |
| Security Deposits | $84,606 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- No
- 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
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- Yes
Governance Explanations
Form 990, Part VI, Section A, Line 3
“Vision communities consolidates five projects that are managed by flaherty & collins, inc., a professional property management company. Flaherty & collins, inc. Has a project owner's and management agent's certification for multifamily housing projects with the u.s. Department of housing and urban development. Under this certification, hud has approved flaherty & collins, inc. To manage the vision communities apartment community. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.”
Form 990, Part VI, Section B, Line 11
“The auditing firm sends a draft of the return to the management company. The management company forwards a copy of the return to each board member for their comments prior to filing.”
Form 990, Part VI, Section C, Line 19
“The form 990 and all related financial and policy information are made available to the public upon written request.”
Filing and Contact Details
Filer
- Filer Name
- Vision Communities Inc
- EIN
- 51-0415780
- Phone
- 3172617255
- Address
- 8900 KEYSTONE CROSSING SUITE 1200, INDIANAPOLIS, IN 46240
Signing Officer
- Name
- David Flaherty
- Title
- President
- Phone
- 3172617255
- Signed
- 2015-11-06
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- David M Flaherty
- Formed
- 2002
- Legal Domicile
- In
- Voting Board Members
- 5
- Independent Board Members
- 5
- Employees
- 0
- Volunteers
- 3
Preparer
- Firm
- DAUBY O'CONNOR & ZALESKI LLC
- Address
- 501 CONGRESSIONAL BLVD STE 300, CARMEL, IN 46032
- Preparer
- Jessica Cooper
- Phone
- 3178485700
Supplemental Narrative
Additional Explanations
Part XII, Line 2C
“Flaherty & collins, inc., the management company, receives a copy of the audit. Prior to the finalization of the audit, the executives give their approval. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”
FORM 990, PART XI, LINE 8: PRIOR PERIOD ADJUSTMENT
“A prior period adjustment is being made to account for the transfer of development fees and interest receivable to vision communities, inc. Development fee receivable in the amount of $740,553 and development fee interest receivable in the amount of $498,748 were transferred and the corresponding revenue had not been accounted for in prior years. Additionally, $231,000 of developer fee income was eliminated in prior year for a consolidated entity. The entity is no longer wholly owned by vision communities, inc. Therefore the corresponding receivable is on the books and revenue is accounted for through a prior period adjustment.”
Financial Statement Notes
PART X, LINE 2:
“The corporation is exempt from federal income tax under section 501(c)(3) of the internal revenue code and state income tax and has been classified as an other than private foundation. Accordingly, no provision for federal and state taxes on revenue and income has been recognized in the accompanying financial statements. Generally, the federal and state tax returns were subject to examinations from the three years after the later of the original or extended due date or the date filed by the applicable tax authority.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Book/tax difference in depreciation 121,201.”
Raw XML AppendixShowing 400 of 576 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/Desc | 0 | VISION COMMUNITIES, INC. IS AN INDIANA NONPROFIT CORPORATION FORMED ON JULY 26, 2002, TO ENGAGE IN COMMUNITY DEVELOPMENT ACTIVITIES THAT FOSTER AND SUPPORT THE RELIEF FOR THE POOR AND DISTRESSED, OR OF THE UNDERPRIVILEGED, THE PROMOTION OF SOCIAL WELFARE, THE LESSENING OF NEIGHBORHOOD TENSIONS, THE ELIMINATION OF PREJUDICE AND DISCRIMINATION OR THE COMBATING OR COMMUNITY DETERIORATION AND JUVENILE DELINQUENCY, AND TO PROVIDE SAFE AND DECENT HOUSING TO LOW-TO-MODERATE-INCOME PERSONS. |
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| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 1856156 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 1856156 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 73875 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 73875 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 715399 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 807821 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | MANAGEMENT COMPANY EMPL |
| IRS990/OtherExpensesGrp/Desc | 1 | BAD DEBTS |
| IRS990/OtherExpensesGrp/Desc | 2 | ASSET MANAGEMENT FEE |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 5000 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 254431 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 43933 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 254431 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 43933 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 5000 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 851133 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 479606 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 531110 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 531110 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 2 | 531110 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | OTHER REVENUE-MISC. |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | TAX REIMBURSEMENTS |
| IRS990/OtherRevenueMiscGrp/Desc | 2 | TENANT CHARGES |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 110462 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 1 | 69965 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 86914 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 110462 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 86914 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 2 | 69965 |
| IRS990/OtherRevenueTotalAmt | 0 | 348579 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 5087208 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 6489258 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 145732 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 119990 |
| IRS990/PrincipalOfficerNm | 0 | DAVID M FLAHERTY |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | 1470301 |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 531110 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 531110 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 531110 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | RENTAL INCOME |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | DEVELOPMENT INTEREST I |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | DEVELOPMENT FEE INCOME |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 2557402 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 190589 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 142595 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 2557402 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 190589 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 142595 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 306011 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 35178 |
| IRS990/PYInvestmentIncomeAmt | 0 | 871 |
| IRS990/PYOtherExpensesAmt | 0 | 3280273 |
| IRS990/PYOtherRevenueAmt | 0 | 122113 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 2701087 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -185369 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 3315451 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 3130082 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 1239624 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 0 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 2890586 |
| IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt | 0 | 1031011 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt | 0 | 306011 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 306011 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 2198169 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 3841202 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt | 0 | 775 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 871 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 977 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 1255 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 1635 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 5513 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt | 0 | 3239165 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 2823200 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 2439102 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 1387542 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 1217910 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt | 0 | 11106919 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt | 0 | 775 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt | 0 | 871 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt | 0 | 977 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt | 0 | 1255 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt | 0 | 1635 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 5513 |
| IRS990ScheduleA/InvestmentIncomeCYPct | 0 | 0.00040 |
| IRS990ScheduleA/InvestmentIncomePYPct | 0 | 0.00060 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY509Pct | 0 | 0.99960 |
| IRS990ScheduleA/PublicSupportPY509Pct | 0 | 0.99940 |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 14948121 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt | 0 | 0 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind | 0 | X |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt | 0 | 4270176 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt | 0 | 3129211 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 2745113 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 3585711 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 1217910 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 14948121 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt | 0 | 4270951 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt | 0 | 3130082 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt | 0 | 2746090 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt | 0 | 3586966 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt | 0 | 1219545 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 14953634 |
| 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 | 1 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 12484788 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 1502043 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 13986831 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 440024 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 233316 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 673340 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 121201 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 3031327 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 795065 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 795065 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 388561 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 108305 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 496866 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 121201 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 84606 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 395000 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | SECURITY DEPOSITS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DUE TO F&C |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 4270951 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED BY THE APPLICABLE TAX AUTHORITY. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | BOOK/TAX DIFFERENCE IN DEPRECIATION 121,201. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 14108438 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 3031327 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 479606 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 4270951 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 4270951 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 3152528 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | 0 |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 5000 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501(C)(3) |
| IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt | 0 | 0 |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | TO ASSIST ORGANIZATION WITH MISSION OF TRANSFORMING DISTRESSED NEIGHBORHOODS THROUGHOUT URBAN AND RURAL AREAS OF THE UNITED STATES |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | LOCAL INITIATIVES SUPPORT CORPORATION |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 133030229 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | 501 SEVENTH AVENUE SUITE 7TH FL |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | NEW YORK |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | NY |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 10018 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | VISION COMMUNITIES CONSOLIDATES FIVE PROJECTS THAT ARE MANAGED BY FLAHERTY & COLLINS, INC., A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. FLAHERTY & COLLINS, INC. HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED FLAHERTY & COLLINS, INC. TO MANAGE THE VISION COMMUNITIES APARTMENT COMMUNITY. THE MANAGEMENT CONTRACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE AUDITING FIRM SENDS A DRAFT OF THE RETURN TO THE MANAGEMENT COMPANY. THE MANAGEMENT COMPANY FORWARDS A COPY OF THE RETURN TO EACH BOARD MEMBER FOR THEIR COMMENTS PRIOR TO FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | FLAHERTY & COLLINS, INC., THE MANAGEMENT COMPANY, RECEIVES A COPY OF THE AUDIT. PRIOR TO THE FINALIZATION OF THE AUDIT, THE EXECUTIVES GIVE THEIR APPROVAL. WHEN THE AUDIT IS UP FOR BID, THE BOARD DISCUSSES THE RELATIONSHIP WITH THE CURRENT AUDITORS AND MAKES A DETERMINATION AS TO WHETHER TO MAINTAIN THIS RELATIONSHIP OR CHANGE TO A NEW AUDITING FIRM. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | A PRIOR PERIOD ADJUSTMENT IS BEING MADE TO ACCOUNT FOR THE TRANSFER OF DEVELOPMENT FEES AND INTEREST RECEIVABLE TO VISION COMMUNITIES, INC. DEVELOPMENT FEE RECEIVABLE IN THE AMOUNT OF $740,553 AND DEVELOPMENT FEE INTEREST RECEIVABLE IN THE AMOUNT OF $498,748 WERE TRANSFERRED AND THE CORRESPONDING REVENUE HAD NOT BEEN ACCOUNTED FOR IN PRIOR YEARS. ADDITIONALLY, $231,000 OF DEVELOPER FEE INCOME WAS ELIMINATED IN PRIOR YEAR FOR A CONSOLIDATED ENTITY. THE ENTITY IS NO LONGER WHOLLY OWNED BY VISION COMMUNITIES, INC. THEREFORE THE CORRESPONDING RECEIVABLE IS ON THE BOOKS AND REVENUE IS ACCOUNTED FOR THROUGH A PRIOR PERIOD ADJUSTMENT. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | PART XII, LINE 2C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART XI, LINE 8: PRIOR PERIOD ADJUSTMENT |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt | 0 | VISION COMMUNITIES INC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt | 1 | VISION COMMUNITIES INC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt | 2 | VISION COMMUNITIES INC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt | 3 | VISION COMMUNITIES INC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt | 4 | VISION COMMUNITIES INC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt | 5 | VISION COMMUNITIES INC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt | 6 | VISION COMMUNITIES INC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | DOUGLAS POINTE III ASSOCIATES LLC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt | 1 | GREAT OAKS LLC |
| IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt | 2 | DUNEDIN I LLC |
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.
- Assets
- $23,480,365
- Liabilities
- $17,344,522
- Net assets
- $6,135,843
- Revenue
- $4,270,951
- Expenses
- $3,031,327
- Net income
- $1,239,624