Civic Intelligence

Largo Landing Elderly Developments Inc

EIN 52-1264032 • 501(c)3 • Reston, VA

Profile

The Organization provides affordable housing and services to older adults.

11260 Roger Bacon Drive Suite 20Reston, VA 20190

www.fellowshipsqaure.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

86th percentile

0.68x

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

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

1.75x

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

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

39th percentile

0.6%

Higher net margin than 39% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

48th percentile

4.0%

Faster asset growth than 48% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

35th percentile

0.1%

Faster revenue growth than 35% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Assets

Down

$5,279,026

Down $514,105 (-8.9%) from 2023

Liabilities

Down

$3,442,513

Down $472,903 (-12%) from 2023

Net Assets

Down

$1,836,513

Down $41,202 (-2.2%) from 2023

Revenue

Up

$2,256,261

Up $19,749 (+0.9%) from 2023

Expenses

Up

$2,297,463

Up $75,342 (+3.4%) from 2023

Net Income

Down

-$41,202

Down $55,593 (-386%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $5,380,340Liabilities 2011: $4,750,528Net Assets 2011: $629,8122011Assets 2012: $5,372,752Liabilities 2012: $4,584,588Net Assets 2012: $788,1642012Assets 2013: $5,706,125Liabilities 2013: $4,696,377Net Assets 2013: $1,009,7482013Assets 2014: $5,402,621Liabilities 2014: $4,363,492Net Assets 2014: $1,039,1292014Assets 2015: $5,911,490Liabilities 2015: $4,927,461Net Assets 2015: $984,0292015Assets 2016: $5,909,777Liabilities 2016: $4,943,580Net Assets 2016: $966,1972016Assets 2017: $5,464,440Liabilities 2017: $4,539,153Net Assets 2017: $925,2872017Assets 2018: $5,429,547Liabilities 2018: $4,332,161Net Assets 2018: $1,097,3862018Assets 2019: $5,437,921Liabilities 2019: $4,156,798Net Assets 2019: $1,281,1232019Assets 2020: $5,583,512Liabilities 2020: $4,016,917Net Assets 2020: $1,566,5952020Assets 2021: $5,574,886Liabilities 2021: $3,869,228Net Assets 2021: $1,705,6582021Assets 2022: $5,570,892Liabilities 2022: $3,709,217Net Assets 2022: $1,861,6752022Assets 2023: $5,793,131Liabilities 2023: $3,915,416Net Assets 2023: $1,877,7152023Assets 2024: $5,279,026Liabilities 2024: $3,442,513Net Assets 2024: $1,836,5132024

Highlighted filing

2024

Assets$5,279,026
Liabilities$3,442,513
Net Assets$1,836,513

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,755,987Expenses 2011: $1,716,697Net Income 2011: $39,2902011Revenue 2012: $1,802,524Expenses 2012: $1,644,172Net Income 2012: $158,3522012Expenses 2013: $1,659,7062013Revenue 2014: $1,812,433Expenses 2014: $1,795,052Net Income 2014: $17,3812014Revenue 2015: $1,862,197Expenses 2015: $1,917,297Net Income 2015: -$55,1002015Revenue 2016: $1,902,217Expenses 2016: $1,920,049Net Income 2016: -$17,8322016Revenue 2017: $1,886,287Expenses 2017: $1,927,197Net Income 2017: -$40,9102017Revenue 2018: $1,928,167Expenses 2018: $1,756,068Net Income 2018: $172,0992018Revenue 2019: $1,968,044Expenses 2019: $1,784,307Net Income 2019: $183,7372019Revenue 2020: $1,987,925Expenses 2020: $1,702,453Net Income 2020: $285,4722020Revenue 2021: $2,018,480Expenses 2021: $1,879,417Net Income 2021: $139,0632021Revenue 2022: $2,235,033Expenses 2022: $2,001,884Net Income 2022: $233,1492022Revenue 2023: $2,236,512Expenses 2023: $2,222,121Net Income 2023: $14,3912023Revenue 2024: $2,256,261Expenses 2024: $2,297,463Net Income 2024: -$41,2022024

Highlighted filing

2024

Revenue$2,256,261
Expenses$2,297,463
Net Income-$41,202

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.28$3.44$1.84$2.26$2.30$0.04
2023Detailed filing. Detailed filing data is available for this year.$5.79$3.92$1.88$2.24$2.22$0.01
2022Detailed filing. Detailed filing data is available for this year.$5.57$3.71$1.86$2.24$2.00$0.23
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.57$3.87$1.71$2.02$1.88$0.14
2020Detailed filing. Detailed filing data is available for this year.$5.58$4.02$1.57$1.99$1.70$0.29
2019Detailed filing. Detailed filing data is available for this year.$5.44$4.16$1.28$1.97$1.78$0.18
2018Detailed filing. Detailed filing data is available for this year.$5.43$4.33$1.10$1.93$1.76$0.17
2017Detailed filing. Detailed filing data is available for this year.$5.46$4.54$0.93$1.89$1.93$0.04
2016Detailed filing. Detailed filing data is available for this year.$5.91$4.94$0.97$1.90$1.92$0.02
2015Detailed filing. Detailed filing data is available for this year.$5.91$4.93$0.98$1.86$1.92$0.06
2014Detailed filing. Detailed filing data is available for this year.$5.40$4.36$1.04$1.81$1.80$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.71$4.70$1.01$1.66
2012Summary only. Only limited summary data is available for this year.$5.37$4.58$0.79$1.80$1.64$0.16
2011Summary only. Only limited summary data is available for this year.$5.38$4.75$0.63$1.76$1.72$0.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 18, 2025
Return Version
2023v6.0
Gross Receipts
$2,256,261
Mission and Program Overview

Mission

The organization provides affordable housing for the elderly ages 62 or older and to physically handicapped or disabled persons.

Affordable housing and services for low income seniors and those who are physically disabled.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,208,325$4,230,553▲ $22,228
Cash and Non-Interest-Bearing Accounts$421,342$76,422▼ $344,920
Accounts Receivable$32,689$11,256▼ $21,433
Total Assets$5,793,131$5,279,026▼ $514,105
Other Assets Total$1,130,775$960,795▼ $169,980
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,448,238$3,277,798▼ $170,440
Other Liabilities$262,146--
Accounts Payable and Accrued Expenses$167,464$127,396▼ $40,068
Escrow Account Liability$37,568$37,319▼ $249
Total Liabilities$3,915,416$3,442,513▼ $472,903
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,877,715$1,836,513▼ $41,202
Total Net Assets Fund Balance$1,877,715$1,836,513▼ $41,202
Total Liabilities and Net Assets / Fund Balance$5,793,131$5,279,026▼ $514,105

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,987,550$5,931,279$8,918,829
Equipment$696,492$127,172$823,664
Other Land Buildings$212,453$240,011$452,464
Land$334,058-$334,058
Other Assets Org$39,765--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Shontay KincaidPresident
Lynn ThomasVice President
Allison WattsDirector
John PriebeDirector
Nicole MarshallDirector
Christina ZeitzCEO
Theresa HillSecretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
BM Contracting LLCGeneral Contractor5693 Briargrove CT, Frederick, MD 21703$273,068
Revenue and Support

Revenue Composition

Contributions and Grants
$50,433
Program Service Revenue
$2,197,277
Investment Income
$4,700
Other Revenue
$3,851
Change in Net Assets
$-41,202

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,256,261
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,256,261
Total Revenue per Form 990
$2,256,261
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,838,348
Salaries, Compensation, and Employee Benefits$459,115
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$392,748--$392,748
Fees for Services Other$362,135--$362,135
Depreciation Depletion$305,855--$305,855
Interest$124,857--$124,857
Insurance$102,865--$102,865
Fees for Services Management-$95,784-$95,784
All Other Expenses$72,414--$72,414
Office Expenses$68,910--$68,910
Other Expenses$45,950--$45,950
Other Employee Benefits$37,002--$37,002
Payroll Taxes$29,027--$29,027
Fees for Services Accounting-$14,617-$14,617
Travel$8,100--$8,100
Fees for Services Legal$2,866--$2,866
Pension Plan Contributions$338--$338
Total Functional Expenses$2,187,062$110,401$0$2,297,463

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,297,463
Total Expenses per Audited Statements$2,297,463
Total Expenses per Form 990$2,297,463
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
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 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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 2

Theresa Hill, Lynn Thomas, and Nicole Marshall all share a family relationship.

Form 990, Part VI, Section A, line 3

The organization's activities are managed by a real estate management firm, S. L. Nusbuam. The company provides accounting, human resource, and management oversight for the organization. Loretta Lanham is an employee of S. L. Nusbaum and the manager for the property. Her compensation, which reflects her management for this and other properties, was $83,782.40.

Form 990, Part VI, Section A, line 6

Fellowship Square Foundation, Inc. (EIN- XXX-XX-XXXX) Is the sole owner of Largo Landing Elderly Developments, Inc. According to Largo Landing's bylaws

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

The Fellowship Square Foundation, Inc. has the ability to appoint the governing body.

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

The Fellowship Square Foundation, Inc. approves many decisions made by the Largo Landing Board of Directors, as outlined in the organization's bylaws.

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

Fellowship Square executive staff perform an initial review. Once approved, the finance committee reviews the draft and subsequently the whole board reviews and approves the 990 prior to the return being filed.

Form 990, Part VI, Section B, line 12C

The organization's conflict of interest policy requires each director and/or officer to annually disclose his/her knowledge and understanding of the policy which includes the duty of the director and/or officer to disclose to the board of directors any actual or potential conflicts of interest. Family and business relationships are expressly mentioned in the policy. The board of directors (excluding any member who is party to the conflict) is responsible for reviewing the potential conflict and making the determination if an actual conflict of interest exists. Upon knowledge that a conflict was not properly disclosed to the board of directors, appropriate corrective and disciplinary actions shall be taken. Individuals party to any conflicts of interest shall be precluded from voting on any matters associated with the arrangement or transaction involving such conflict.

Form 990, Part VI, Section C, line 19

The organization makes its conflict of interest policy, governing documents, and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Largo Landing Elderly Developments Inc
EIN
52-1264032
Phone
3012492100
Address
11260 Roger Bacon Drive Suite 20, Reston, VA 20190

Signing Officer

Name
Dr Shontay Kincaid
Title
President
Phone
3012492100
Signed
2025-02-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Shontay Kincaid
Formed
1984
Legal Domicile
Md
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
24

Preparer

Firm
Aprio Advisory Group LLC
Address
2002 Summit Boulevard Suite 120, Atlanta, GA 30319
Preparer
Stacy Cullen
Phone
4048929651
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Consultants: Program service expenses 196,699. Management and general expenses 0. Fundraising expenses 0. Total expenses 196,699. Other fees: Program service expenses 165,436. Management and general expenses 0. Fundraising expenses 0. Total expenses 165,436.

Part XII, Line 2C

No change in process from prior year.

Financial Statement Notes

Part IV, Line 2B:

The Escrow account holds tenenats security deposits.

Part X, Line 2:

Income taxes The corporation is organized and operated exclusively for charitable, not-for-profit purposes. The Internal Revenue Service has, in prior years, issued its determination letter reflecting that Largo Landing Elderly Developments, Inc. is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. The Corporation is also exempt from state corporate income tax. The Corporation has also been classified as an entity that is not a private foundation within the meaning of Section 509(a) and qualifies for deductible contributions as provided in Section 170(b)(1)(A)(vi). Therefore, no income tax provision has been included in the financial statements. The corporation is no longer subject to income tax examinations for calendar years up to and including the year ended June 30, 2020.

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IRS990/Desc0Fellowship Square provides affordable housing and services to seniors, 62 and older, at four apartment buildings within the Washington DC region. In 1984, Fellowship Square opened Largo Landing Fellowship House (LLFH), an independent living community of 106 apartments and a variety of programs and supportive services. LLFH boasts a beautiful common space for activities, games, exercise, social events, and wellness programs. The property sits off a main road and is surrounded by a forest which includes trails and a walking path for the residents. The property operates a 14-seat passenger van for weekly shopping and errands and seasonal field trips for residents. The organization provides a robust monthly calendar of programs and events focused on keeping residents active and engaged to lead richer, healthier, and more satisfying lives. These programs and events rely on a variety of volunteers and community partners, such as healthcare specialists, legal expertise, and other pro bono services. An onsite service coordinator is the linchpin to connect residents to other community resources, such as Medicare, Medicaid, and other benefits to which they are entitled. The property operates under Section 223 (F) of the National Housing Act and participates in the Section 8 program.IRS Form 990
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IRS990ScheduleA/Total509Grp/TotalAmt010611053
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Replacement Reserves
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Residual Receipts
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Escrow account holds tenenats security deposits.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Income taxes The corporation is organized and operated exclusively for charitable, not-for-profit purposes. The Internal Revenue Service has, in prior years, issued its determination letter reflecting that Largo Landing Elderly Developments, Inc. is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. The Corporation is also exempt from state corporate income tax. The Corporation has also been classified as an entity that is not a private foundation within the meaning of Section 509(a) and qualifies for deductible contributions as provided in Section 170(b)(1)(A)(vi). Therefore, no income tax provision has been included in the financial statements. The corporation is no longer subject to income tax examinations for calendar years up to and including the year ended June 30, 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Christina Zeitz
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Theresa Hill, Lynn Thomas, and Nicole Marshall all share a family relationship.

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