Civic Intelligence

Vision Communities Inc.

990 • Fiscal year 2023 • EIN 51-0415780

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 11, 2024

Organization ProfileVISIONCOMINC.ORG
One Indiana Square Suite 3000Indianapolis, IN 46204

(317) 816-9300

Siviq Scores

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

Liabilities / Assets

86th percentile

0.77x

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

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

4.66x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

9th percentile

-32%

Higher net margin than 9% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

1st percentile

-42%

Faster asset growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-78%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$11,655,877

Down $8,422,868 (-42%) from 2022

Net Assets

Down

$2,726,823

Down $10,462,508 (-79%) from 2022

Liabilities

Up

$8,929,054

Up $2,039,640 (+30%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin9th percentile

Revenue

Down

$1,916,736

Down $6,796,340 (-78%) from 2022

Expenses

Down

$2,535,953

Down $5,376,433 (-68%) from 2022

Net Income

Down

-$619,217

Down $1,419,907 (-177%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$30M$20M$10M$0Assets 2013: $22,237,266Liabilities 2013: $18,811,348Net Assets 2013: $3,425,9182013Assets 2014: $23,480,365Liabilities 2014: $17,344,522Net Assets 2014: $6,135,8432014Assets 2015: $23,455,900Liabilities 2015: $16,524,062Net Assets 2015: $6,931,8382015Assets 2016: $24,464,309Liabilities 2016: $16,545,627Net Assets 2016: $7,918,6822016Assets 2017: $23,669,816Liabilities 2017: $15,269,889Net Assets 2017: $8,399,9272017Assets 2018: $24,087,325Liabilities 2018: $14,734,141Net Assets 2018: $9,353,1842018Assets 2019: $25,824,728Liabilities 2019: $15,555,579Net Assets 2019: $10,269,1492019Assets 2020: $26,733,850Liabilities 2020: $15,043,884Net Assets 2020: $11,689,9662020Assets 2021: $25,695,068Liabilities 2021: $12,946,427Net Assets 2021: $12,748,6412021Assets 2022: $20,078,745Liabilities 2022: $6,889,414Net Assets 2022: $13,189,3312022Assets 2023: $11,655,877Liabilities 2023: $8,929,054Net Assets 2023: $2,726,8232023Assets 2024: $13,506,519Liabilities 2024: $8,500,381Net Assets 2024: $5,006,1382024

Highlighted filing

2023

Assets$11,655,877
Liabilities$8,929,054
Net Assets$2,726,823
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

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

$10M$5.0M$0-$5.0MRevenue 2013: $3,130,082Expenses 2013: $3,315,451Net Income 2013: -$185,3692013Revenue 2014: $4,270,951Expenses 2014: $3,031,327Net Income 2014: $1,239,6242014Revenue 2015: $3,740,579Expenses 2015: $2,944,584Net Income 2015: $795,9952015Revenue 2016: $3,902,366Expenses 2016: $2,915,522Net Income 2016: $986,8442016Revenue 2017: $3,533,373Expenses 2017: $3,054,618Net Income 2017: $478,7552017Revenue 2018: $4,081,340Expenses 2018: $3,128,083Net Income 2018: $953,2572018Revenue 2019: $3,764,375Expenses 2019: $3,393,393Net Income 2019: $370,9822019Revenue 2020: $4,595,631Expenses 2020: $3,174,814Net Income 2020: $1,420,8172020Revenue 2021: $4,864,271Expenses 2021: $3,812,262Net Income 2021: $1,052,0092021Revenue 2022: $8,713,076Expenses 2022: $7,912,386Net Income 2022: $800,6902022Revenue 2023: $1,916,736Expenses 2023: $2,535,953Net Income 2023: -$619,2172023Revenue 2024: $4,067,417Expenses 2024: $1,788,102Net Income 2024: $2,279,3152024

Highlighted filing

2023

Revenue$1,916,736
Expenses$2,535,953
Net Income-$619,217
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 11, 2024
Return Version
2023v5.1
Gross Receipts
$1,916,736
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 of community deterioration and juvenile delinquency, and to provide safe and decent housing to low-to-moderate-income persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,034,269$5,077,067▲ $42,798
Other Notes and Loans Receivable, Net$8,869,323$3,041,269▼ $5,828,054
Cash and Non-Interest-Bearing Accounts$3,821,843$2,951,293▼ $870,550
Investments Program Related$409,441$197,068▼ $212,373
Intangible Assets$117,143$102,949▼ $14,194
Accounts Receivable$1,637,047$97,308▼ $1,539,739
Prepaid Expenses and Deferred Charges$44,177$43,218▼ $959
Total Assets$20,078,745$11,655,877▼ $8,422,868
Other Assets Total$145,502$145,705▲ $203
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,160,783$7,141,920▲ $981,137
Other Liabilities$457,912$1,218,764▲ $760,852
Accounts Payable and Accrued Expenses$241,385$343,301▲ $101,916
Deferred Revenue$29,334$225,069▲ $195,735
Total Liabilities$6,889,414$8,929,054▲ $2,039,640
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,189,331$2,726,823▼ $10,462,508
Total Net Assets Fund Balance$13,189,331$2,726,823▼ $10,462,508
Total Liabilities and Net Assets / Fund Balance$20,078,745$11,655,877▼ $8,422,868

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,524,430$2,159,343$6,683,773
Land$441,082-$441,082
Leasehold Improvements$111,555$190,618$302,173
Equipment$0$256,322$256,322
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
David FlahertyPresident
David BartusDirector
Doug HannoyDirector
Jerry CollinsSecretary
Dave KellerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$306,011
Program Service Revenue
$1,301,538
Investment Income
$111,018
Other Revenue
$198,169
Change in Net Assets
$-619,217

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,916,736
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,916,736
Total Revenue per Form 990
$1,916,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,480,953
Grants and Similar Amounts Paid$55,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$997,486--$997,486
Depreciation Depletion$196,396--$196,396
Fees for Services Management-$88,043-$88,043
Fees for Services Accounting-$61,158-$61,158
Office Expenses$60,518--$60,518
Grants to Domestic Orgs$55,000--$55,000
Fees for Services Legal-$12,675-$12,675
Other Expenses$36,459$8,302-$8,302
All Other Expenses-$5,000-$5,000
Advertising-$3,449-$3,449
Insurance$1,514--$1,514
Travel$93--$93
Total Functional Expenses$2,258,180$277,773$0$2,535,953

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,539,312
Expenses per Audited Statements$2,535,953
Total Expenses per Form 990$2,535,953
Expenses Not Reported on Form 990$3,359
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Boys & Girls Club of Noblesville IncNoblesville, IN501(c)(3)To Assist Organization With Mission of Providing Social and Athletic Programs for Children$0
Ducks Unlimited IncMemphis, TN501(c)(3)TO ASSIST ORGANIZATION WITH MISSION TO CONSERVE, RESTORE, AND MANAGE WETLANDS AND ASSOCIATED HABITATS FOR NORTH AMERICA'S WATERFOWL.$0
GLEANER'S FOOD BANK OF INDIANA INCIndianapolis, IN501(c)(3)To Assist Organization With Mission of Leading the Fight Against Hunger$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
Allowance for Obs Credit Exposure$1,171,392
Security Deposits$47,372
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Vision communities consolidates five projects and one holding corporation 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 11B

“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.”

Part VII, Line 1(A)

“Information about compensation jerry collins and david flaherty are owners of the management company; however, they are not involved with the day to day operations of the management of the properties. Because of their responsibilities, we are not including any of the management fees as compensation for these officers.”

Filing and Contact Details

Filer

Filer Name
Vision Communities Inc
EIN
51-0415780
Phone
3178169300
Address
ONE INDIANA SQUARE SUITE 3000, INDIANAPOLIS, IN 46204

Signing Officer

Name
David M Flaherty
Title
President
Phone
3178169300
Signed
2024-11-11
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
0

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer
Jacob a Sowers
Phone
3178485700
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Modified retrospective adjustment per audited financial statements -9,872,092.”

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.”

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. Accordingly, no provision for federal and state taxes on revenue and income has been recognized in the accompanying consolidated 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 with the applicable tax authority.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Book/tax amortization expense 109. Book/tax depreciation expense 3,250.”

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IRS990/OtherChangesInNetAssetsAmt0-9872092
IRS990/OtherExpensesGrp/Desc0BAD DEBTS
IRS990/OtherExpensesGrp/Desc1MANAGER AND OFFICE SALA
IRS990/OtherExpensesGrp/Desc2MANAGEMENT COMPANY EMPL
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS ADMINISTR
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt099146
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18302
IRS990/OtherExpensesGrp/ProgramServicesAmt0910714
IRS990/OtherExpensesGrp/ProgramServicesAmt136459
IRS990/OtherExpensesGrp/TotalAmt0910714
IRS990/OtherExpensesGrp/TotalAmt199146
IRS990/OtherExpensesGrp/TotalAmt236459
IRS990/OtherExpensesGrp/TotalAmt38302
IRS990/OtherLiabilitiesGrp/BOYAmt0457912
IRS990/OtherLiabilitiesGrp/EOYAmt01218764
IRS990/OtherRevenueMiscGrp/BusinessCd0531110
IRS990/OtherRevenueMiscGrp/BusinessCd1531110
IRS990/OtherRevenueMiscGrp/BusinessCd2531110
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE-MISC.
IRS990/OtherRevenueMiscGrp/Desc1HOME LOAN FORGIVENESS
IRS990/OtherRevenueMiscGrp/Desc2TENANT CHARGES
IRS990/OtherRevenueMiscGrp/ExclusionAmt099561
IRS990/OtherRevenueMiscGrp/ExclusionAmt133608
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt065000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt099561
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt165000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt233608
IRS990/OtherRevenueTotalAmt0198169
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt08869323
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt03041269
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt044177
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt043218
IRS990/PrincipalOfficerNm0DAVID M FLAHERTY
IRS990/PriorPeriodAdjustmentsAmt028801
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1DEVELOPMENT INTEREST I
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0951518
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1350020
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0951518
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1350020
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0306011
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt059250
IRS990/PYInvestmentIncomeAmt04095444
IRS990/PYOtherExpensesAmt07853136
IRS990/PYOtherRevenueAmt0530300
IRS990/PYProgramServiceRevenueAmt03781321
IRS990/PYRevenuesLessExpensesAmt0800690
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt07912386
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08713076
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-619217
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01366538
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0306011
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0306011
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01231011
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0306011
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0306011
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02455055
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0111018
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt043702
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt019864
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt05742
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt016853
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0197179
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01499707
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt04311621
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03613396
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt04283878
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03441511
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt017150113
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0111018
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt043702
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt019864
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt05742
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt016853
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0197179
IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.00410
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.92790
IRS990ScheduleA/PublicSupportPY509Pct00.92050
IRS990ScheduleA/PublicSupportTotal509Amt018374424
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt0378667
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt057677
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt0656444
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt0137956
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt01230744
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt0378667
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt057677
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt0656444
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus4YearsAmt0137956
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt01230744
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01805718
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt04617632
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt04844407
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt04589889
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt03747522
IRS990ScheduleA/Total509Grp/TotalAmt019605168
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01916736
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt04661334
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt04864271
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt04595631
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03764375
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt019802347
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt04524430
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02159343
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06683773
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0256322
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0256322
IRS990ScheduleD/ExpensesNotReportedAmt03359
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02535953
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0441082
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0441082
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0111555
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0190618
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0302173
IRS990ScheduleD/OtherExpensesIncludedAmt03359
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt047372
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11171392
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ALLOWANCE FOR OBS CREDIT EXPOSURE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01916736
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING CONSOLIDATED 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 WITH THE APPLICABLE TAX AUTHORITY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BOOK/TAX AMORTIZATION EXPENSE 109. BOOK/TAX DEPRECIATION EXPENSE 3,250.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05077067
IRS990ScheduleD/TotalExpensesPerForm990Amt02535953
IRS990ScheduleD/TotalLiabilityAmt01218764
IRS990ScheduleD/TotalRevenuePerForm990Amt01916736
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01916736
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02539312
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt00
IRS990ScheduleI/RecipientTable/CashGrantAmt10
IRS990ScheduleI/RecipientTable/CashGrantAmt20
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt010000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt110000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt210000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO ASSIST ORGANIZATION WITH MISSION OF PROVIDING SOCIAL AND ATHLETIC PROGRAMS FOR CHILDREN
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO ASSIST ORGANIZATION WITH MISSION OF LEADING THE FIGHT AGAINST HUNGER
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2TO ASSIST ORGANIZATION WITH MISSION TO CONSERVE, RESTORE, AND MANAGE WETLANDS AND ASSOCIATED HABITATS FOR NORTH AMERICA'S WATERFOWL.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BOYS & GIRLS CLUB OF NOBLESVILLE INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1GLEANER'S FOOD BANK OF INDIANA INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2DUCKS UNLIMITED INC
IRS990ScheduleI/RecipientTable/RecipientEIN0351054426
IRS990ScheduleI/RecipientTable/RecipientEIN1351483868
IRS990ScheduleI/RecipientTable/RecipientEIN2135643799
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01448 CONNER ST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13737 WALDEMERE AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2ONE WATERFOWL WAY
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NOBLESVILLE
IRS990ScheduleI/RecipientTable/USAddress/CityNm1INDIANAPOLIS
IRS990ScheduleI/RecipientTable/USAddress/CityNm2MEMPHIS
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1IN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2TN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd046060
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd146241
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd238120
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VISION COMMUNITIES CONSOLIDATES FIVE PROJECTS AND ONE HOLDING CORPORATION 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/ExplanationTxt1THE 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/ExplanationTxt2THE FORM 990 AND ALL RELATED FINANCIAL AND POLICY INFORMATION ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INFORMATION ABOUT COMPENSATION JERRY COLLINS AND DAVID FLAHERTY ARE OWNERS OF THE MANAGEMENT COMPANY; HOWEVER, THEY ARE NOT INVOLVED WITH THE DAY TO DAY OPERATIONS OF THE MANAGEMENT OF THE PROPERTIES. BECAUSE OF THEIR RESPONSIBILITIES, WE ARE NOT INCLUDING ANY OF THE MANAGEMENT FEES AS COMPENSATION FOR THESE OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MODIFIED RETROSPECTIVE ADJUSTMENT PER AUDITED FINANCIAL STATEMENTS -9,872,092.

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,655,877
Liabilities
$8,929,054
Net assets
$2,726,823
Revenue
$1,916,736
Expenses
$2,535,953
Net income
-$619,217
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.5$8.50$5.01$4.07$1.79$2.28
2023Detailed filing. Detailed filing data is available for this year.$11.7$8.93$2.73$1.92$2.54$0.62
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.1$6.89$13.2$8.71$7.91$0.80
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.7$12.9$12.7$4.86$3.81$1.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.7$15.0$11.7$4.60$3.17$1.42
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.8$15.6$10.3$3.76$3.39$0.37
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.1$14.7$9.35$4.08$3.13$0.95
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.7$15.3$8.40$3.53$3.05$0.48
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.5$16.5$7.92$3.90$2.92$0.99
2015Detailed filing. Detailed filing data is available for this year.$23.5$16.5$6.93$3.74$2.94$0.80
2014Detailed filing. Detailed filing data is available for this year.$23.5$17.3$6.14$4.27$3.03$1.24
2013Detailed filing. Detailed filing data is available for this year.$22.2$18.8$3.43$3.13$3.32$0.19