Civic Intelligence

Victory Housing Inc.

990 • Fiscal year 2015 • EIN 52-1261881

Jul 01, 2014 to Jun 30, 2015 • Filed on Jan 31, 2016

Organization ProfileWWW.VICTORYHOUSING.ORG
11400 Rockville Pike Suite 505Rockville, MD 20852

(301) 493-6000

Siviq Scores

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

Liabilities / Assets

48th percentile

0.22x

Higher debt load relative to assets than 48% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

77th percentile

0.87x

Higher debt load relative to revenue than 77% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

90th percentile

45%

Higher net margin than 90% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

83rd percentile

$342,300

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 9.6% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

88th percentile

25%

Faster asset growth than 88% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

15th percentile

-17%

Faster revenue growth than 15% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$14,279,691

Up $2,828,430 (+25%) from 2014

Net Assets

Up

$11,196,939

Up $2,899,663 (+35%) from 2014

Liabilities

Down

$3,082,752

Down $71,233 (-2.3%) from 2014

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin90th percentile

Revenue

Down

$3,550,484

Down $701,668 (-17%) from 2014

Expenses

Up

$1,946,478

Up $46,894 (+2.5%) from 2014

Net Income

Down

$1,604,006

Down $748,562 (-32%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$80M$60M$40M$20M$0Assets 2011: $14,481,956Liabilities 2011: $2,937,369Net Assets 2011: $11,544,5872011Assets 2012: $14,156,715Liabilities 2012: $2,731,749Net Assets 2012: $11,424,9662012Assets 2013: $8,451,053Liabilities 2013: $3,251,783Net Assets 2013: $5,199,2702013Assets 2014: $11,451,261Liabilities 2014: $3,153,985Net Assets 2014: $8,297,2762014Assets 2015: $14,279,691Liabilities 2015: $3,082,752Net Assets 2015: $11,196,9392015Assets 2016: $14,381,703Liabilities 2016: $3,313,904Net Assets 2016: $11,067,7992016Assets 2017: $17,813,109Liabilities 2017: $5,280,779Net Assets 2017: $12,532,3302017Assets 2018: $21,617,513Liabilities 2018: $6,003,264Net Assets 2018: $15,614,2492018Assets 2019: $22,798,578Liabilities 2019: $6,182,868Net Assets 2019: $16,615,7102019Assets 2020: $27,741,365Liabilities 2020: $7,267,104Net Assets 2020: $20,474,2612020Assets 2021: $39,333,544Liabilities 2021: $10,328,683Net Assets 2021: $29,004,8612021Assets 2022: $43,875,072Liabilities 2022: $12,670,617Net Assets 2022: $31,204,4552022Assets 2023: $44,020,785Liabilities 2023: $14,042,700Net Assets 2023: $29,978,0852023Assets 2024: $67,256,334Liabilities 2024: $39,587,650Net Assets 2024: $27,668,6842024

Highlighted filing

2015

Assets$14,279,691
Liabilities$3,082,752
Net Assets$11,196,939
Open 2015 Filing

Operations Trend

Revenue Growth15th percentile

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

$10M$5.0M$0-$5.0M-$10MRevenue 2011: $2,480,817Expenses 2011: $2,214,071Net Income 2011: $266,7462011Revenue 2012: $2,520,360Expenses 2012: $2,702,479Net Income 2012: -$182,1192012Revenue 2013: $1,939,750Expenses 2013: $8,130,267Net Income 2013: -$6,190,5172013Revenue 2014: $4,252,152Expenses 2014: $1,899,584Net Income 2014: $2,352,5682014Revenue 2015: $3,550,484Expenses 2015: $1,946,478Net Income 2015: $1,604,0062015Revenue 2016: $1,868,033Expenses 2016: $1,954,165Net Income 2016: -$86,1322016Revenue 2017: $3,169,288Expenses 2017: $2,097,508Net Income 2017: $1,071,7802017Revenue 2018: $6,033,082Expenses 2018: $3,207,129Net Income 2018: $2,825,9532018Revenue 2019: $3,699,145Expenses 2019: $2,554,853Net Income 2019: $1,144,2922019Revenue 2020: $6,645,621Expenses 2020: $2,728,761Net Income 2020: $3,916,8602020Revenue 2021: $5,434,326Expenses 2021: $3,429,493Net Income 2021: $2,004,8332021Revenue 2022: $9,895,856Expenses 2022: $6,241,056Net Income 2022: $3,654,8002022Revenue 2023: $3,710,507Expenses 2023: $5,631,821Net Income 2023: -$1,921,3142023Revenue 2024: $9,930,815Expenses 2024: $9,202,195Net Income 2024: $728,6202024

Highlighted filing

2015

Revenue$3,550,484
Expenses$1,946,478
Net Income$1,604,006
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jan 31, 2016
Return Version
2014v6.0
Gross Receipts
$3,550,484
Mission and Program Overview

Mission

To provide affordable housing and related services to low- and moderate-income senior citizens and families.

TO PROVIDE AFFORDABLE HOUSING AND RELATED services to low/MODERATE-INCOME SENIOR CITIZENS AND FAMILIES.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$828,057$3,127,632▲ $2,299,575
Savings and Temporary Cash Investments$3,365,863$2,440,744▼ $925,119
Other Notes and Loans Receivable, Net$639,921$1,601,261▲ $961,340
Land, Buildings, and Equipment, Net$1,321,332$1,298,385▼ $22,947
Investments Program Related$316,936$251,409▼ $65,527
Accounts Receivable$36,226$48,126▲ $11,900
Pledges and Grants Receivable$51,490$25,005▼ $26,485
Prepaid Expenses and Deferred Charges$6,813$5,536▼ $1,277
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$11,451,261$14,279,691▲ $2,828,430
Other Assets Total$4,884,623$5,481,593▲ $596,970
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,400,000$2,360,000▼ $40,000
Other Liabilities$579,426$548,369▼ $31,057
Accounts Payable and Accrued Expenses$174,559$174,383▼ $176
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,153,985$3,082,752▼ $71,233
Net Assets / Fund Balance
Unrestricted Net Assets$8,276,276$11,193,939▲ $2,917,663
Temporarily Rstr Net Assets$21,000$3,000▼ $18,000
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$8,297,276$11,196,939▲ $2,899,663
Total Liabilities and Net Assets / Fund Balance$11,451,261$14,279,691▲ $2,828,430

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,260,000-$1,260,000
Equipment$23,109$68,722$91,831
Other Land Buildings$13,451$56,408$69,859
Leasehold Improvements$1,825$2,935$4,760
Other Assets Org$494,664--
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
JAMES A BROWN jrCEO/presidentPT$342,300$342,300
JOHN D SPENcERVice PresidentPT$185,736$185,736
jacqueline r smedleyDirector of Marketing & MgmtPT$176,835$176,835
Jeffrey BlackwellAssistant SecretaryPT$151,804$151,804

Board Members and Trustees

NameTitle
Paul E Johnson JrChairman
Barbara PopeDirector
Julie SmithDirector
Kathleen McwilliamsDirector
Leila a FinucaneDirector
Michael Gilldirector
REV MSGr JOHN ENZLERDirector
Rev Msgr Ralph J KuehnerDirector
Stephen Mckennadirector
Valencia CampDirector
William Gormandirector
phillip downeyDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Ncas INCInsurance & PensionPO BOX 98145 AOW 5086, Washington, DC 20090$917,620
Ing Security Lane HoldingsOffice Lease-$106,048
Revenue and Support

Revenue Composition

Contributions and Grants
$3,270,891
Program Service Revenue
$113,746
Investment Income
$165,847
Other Revenue
$0
All Other Contributions
$1,389,459
Change in Net Assets
$1,604,006

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$1,423,7080
Total Noncash Contributions1$1,423,708-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,656,538
Revenue Not Reported on Financial Statements
$-1,106,054
Revenue Not Reported on Form 990
$207,603
Other Revenue Adjustments
$-1,106,054
Total Revenue per Audited Statements
$4,864,141
Total Revenue per Form 990
$3,550,484
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,526,509
Other Expenses$419,969
Total Fundraising Expense$6,013
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$856,675--$856,675
Other Salaries and Wages$263,069$159,542$4,798$427,409
Pension Plan Contributions$76,516$29,834-$106,350
Occupancy$78,586$26,195-$104,781
All Other Expenses$77,218$7,517$201$84,936
Payroll Taxes$65,567$3,609$252$69,428
Other Employee Benefits$63,590$3,057-$66,647
Information Technology$25,950$13,854-$39,804
Interest$31,928--$31,928
Fees for Services Accounting$20,300$6,970-$27,270
Office Expenses$13,778$11,402$450$25,630
Depreciation Depletion$2,524$20,423-$22,947
Insurance$13,368$3,488-$16,856
Travel$7,163$4,435-$11,598
Other Expenses$3,680$3,151-$6,831
Fees for Services Management$980$2,458-$3,438
Fees for Services Legal$375$2,974-$3,349
Advertising--$312$312
Total Functional Expenses$1,634,149$306,316$6,013$1,946,478

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,946,478
Total Expenses per Audited Statements$1,946,478
Total Expenses per Form 990$1,946,478
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Development Fees$517,000
Deferred Rent$31,369
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Governance-990/part VI/section B/question 11

“THE AUDIT COMMITTEE REVIEWS THE 990 BEFORE IT IS SENT OUT TO THE FULL BOARD AND THEN THE FULL BOARD reviews THE 990.”

Governance-990/part VI/section B/question 12C

“Annual financial audit by outside firm; quarterly board meetings discuss all transactions.”

Governance-990/part VI/section B/question 15

“for all employees over $115,000, we must check salary compARATIVE INFORMATION. this IS done by using guidestar or peer organizations. the information is given to the president and shared with the audit committee. the audit committee reviews and approves all compensation for employees over $115,000.”

Governance-990/part VI/section C/question 19

“These documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Victory Housing Inc
EIN
52-1261881
In Care Of
% JOHN SPENCER
Phone
3014936000
Address
11400 ROCKVILLE PIKE SUITE 505, ROCKVILLE, MD 20852

Signing Officer

Name
James a Brown Jr
Title
officer
Phone
3014936000
Signed
2016-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
james a brown jr
Formed
1979
Legal Domicile
Md
Voting Board Members
12
Independent Board Members
12
Employees
19

Preparer

Firm
Cohnreznick Llp
Address
7501 WISCONSIN AVENUE SUITE 400E, BETHESDA, MD 20814-6583
Preparer
Ed Ryan CPA
Phone
3016529100
Supplemental Narrative

Additional Explanations

990/part XI/line 9-other Changes in Net Assets/fund Balances

“Changes in investments of affiliates (37,027) changes in investments of affiliates (1,106,054) ----------------------------------------------------------- total changes in net assets/fund balances $(1,146,081)”

Financial Statement Notes

fin 48 disclosure

“Victory has applied for and received an exception from the Internal Revenue Service ("IRS") to be treated as a tax exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the years ended June 30, 2015 and 2014. Due to its tax exempt status, Victory is not subject to income taxes. Victory is required to file and does file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and Victory has no other tax positions which must be considered for disclosure. Income tax returns filed by Victory are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2012 remain open.”

Schedule D/part XI/line 2D-revenue on Books Not on Tax Return

“Financial statement revenue not included in 990 tr revenue: flow through income from investment in affiliates $37,027 net assets released from restriction $21,000 ----------------------------------------------------------- total $58,027”

Schedule D/part XI/line 4B-revenue on Tax Return Not Books

“Flow through loss from investments in affiliates (1,106,054)”

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IRS990/Form990PartVIISectionAGrp/TitleTxt12CEO/president
IRS990/Form990PartVIISectionAGrp/TitleTxt13VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14ASSISTANT SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR OF MARKETING & MGMT
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,279,691
Liabilities
$3,082,752
Net assets
$11,196,939
Revenue
$3,550,484
Expenses
$1,946,478
Net income
$1,604,006
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$67.3$39.6$27.7$9.93$9.20$0.73
2023Summary only. Only limited summary data is available for this year.$44.0$14.0$30.0$3.71$5.63$1.92
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$43.9$12.7$31.2$9.90$6.24$3.65
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.3$10.3$29.0$5.43$3.43$2.00
2020Summary only. Only limited summary data is available for this year.$27.7$7.27$20.5$6.65$2.73$3.92
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.8$6.18$16.6$3.70$2.55$1.14
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.6$6.00$15.6$6.03$3.21$2.83
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.8$5.28$12.5$3.17$2.10$1.07
2016Detailed filing. Detailed filing data is available for this year.$14.4$3.31$11.1$1.87$1.95$0.09
2015Detailed filing. Detailed filing data is available for this year.$14.3$3.08$11.2$3.55$1.95$1.60
2014Detailed filing. Detailed filing data is available for this year.$11.5$3.15$8.30$4.25$1.90$2.35
2013Summary only. Only limited summary data is available for this year.$8.45$3.25$5.20$1.94$8.13$6.19
2012Summary only. Only limited summary data is available for this year.$14.2$2.73$11.4$2.52$2.70$0.18
2011Summary only. Only limited summary data is available for this year.$14.5$2.94$11.5$2.48$2.21$0.27
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $10M-$25M nonprofits