Civic Intelligence

Victory Gardens Inc.

990 • Fiscal year 2020 • EIN 52-2366069

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 20, 2020

CO Tcb Inc 185 Dartmouth StreetBoston, MA 02116

(857) 221-8600

Siviq Scores

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

Liabilities / Assets

45th percentile

0.07x

Higher debt load relative to assets than 45% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

76th percentile

0.47x

Higher debt load relative to revenue than 76% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

15th percentile

-21%

Higher net margin than 15% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

21st percentile

-2.7%

Faster asset growth than 21% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

62nd percentile

7.1%

Faster revenue growth than 62% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$3,384,405

Down $95,668 (-2.7%) from 2019

Net Assets

Down

$3,144,110

Down $109,290 (-3.4%) from 2019

Liabilities

Up

$240,295

Up $13,622 (+6.0%) from 2019

Revenue

Up

$508,327

Up $33,815 (+7.1%) from 2019

Expenses

Up

$617,617

Up $12,033 (+2.0%) from 2019

Net Income

Up

-$109,290

Up $21,782 (+17%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $4,465,836Liabilities 2011: $257,781Net Assets 2011: $4,208,0552011Assets 2012: $4,376,537Liabilities 2012: $300,827Net Assets 2012: $4,075,7102012Assets 2013: $4,239,045Liabilities 2013: $354,966Net Assets 2013: $3,884,0792013Assets 2014: $4,111,657Liabilities 2014: $374,610Net Assets 2014: $3,737,0472014Assets 2015: $3,923,532Liabilities 2015: $320,384Net Assets 2015: $3,603,1482015Assets 2016: $3,821,436Liabilities 2016: $265,772Net Assets 2016: $3,555,6642016Assets 2017: $3,744,517Liabilities 2017: $218,904Net Assets 2017: $3,525,6132017Assets 2018: $3,610,718Liabilities 2018: $226,246Net Assets 2018: $3,384,4722018Assets 2019: $3,480,073Liabilities 2019: $226,673Net Assets 2019: $3,253,4002019Assets 2020: $3,384,405Liabilities 2020: $240,295Net Assets 2020: $3,144,1102020Assets 2021: $3,269,126Liabilities 2021: $104,647Net Assets 2021: $3,164,4792021Assets 2022: $3,175,943Liabilities 2022: $117,541Net Assets 2022: $3,058,4022022Assets 2023: $3,095,938Liabilities 2023: $115,380Net Assets 2023: $2,980,5582023

Highlighted filing

2020

Assets$3,384,405
Liabilities$240,295
Net Assets$3,144,110

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $449,5392011Expenses 2012: $484,7762012Expenses 2013: $539,6932013Revenue 2014: $369,371Expenses 2014: $516,403Net Income 2014: -$147,0322014Revenue 2015: $502,874Expenses 2015: $636,773Net Income 2015: -$133,8992015Revenue 2016: $502,953Expenses 2016: $550,437Net Income 2016: -$47,4842016Revenue 2017: $499,089Expenses 2017: $529,140Net Income 2017: -$30,0512017Revenue 2018: $491,450Expenses 2018: $632,591Net Income 2018: -$141,1412018Revenue 2019: $474,512Expenses 2019: $605,584Net Income 2019: -$131,0722019Revenue 2020: $508,327Expenses 2020: $617,617Net Income 2020: -$109,2902020Revenue 2021: $568,765Expenses 2021: $548,396Net Income 2021: $20,3692021Revenue 2022: $578,025Expenses 2022: $684,102Net Income 2022: -$106,0772022Revenue 2023: $580,444Expenses 2023: $658,288Net Income 2023: -$77,8442023

Highlighted filing

2020

Revenue$508,327
Expenses$617,617
Net Income-$109,290
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 20, 2020
Return Version
2019v5.1
Gross Receipts
$508,327
Mission and Program Overview

Mission

To provide low income elderly persons with affordable housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,331,738$3,212,022▼ $119,716
Cash and Non-Interest-Bearing Accounts$32,730$35,072▲ $2,342
Prepaid Expenses and Deferred Charges$447$5,768▲ $5,321
Accounts Receivable$3,408$3,257▼ $151
Total Assets$3,480,073$3,384,405▼ $95,668
Other Assets Total$111,750$128,286▲ $16,536
Liabilities
Accounts Payable and Accrued Expenses$171,522$179,819▲ $8,297
Unsecured Notes Loans Payable$40,772$41,179▲ $407
Escrow Account Liability$12,977$12,160▼ $817
Deferred Revenue$1,402$7,137▲ $5,735
Total Liabilities$226,673$240,295▲ $13,622
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,253,400$3,144,110▼ $109,290
Total Net Assets Fund Balance$3,253,400$3,144,110▼ $109,290
Total Liabilities and Net Assets / Fund Balance$3,480,073$3,384,405▼ $95,668

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,965,235$1,878,698$4,843,933
Land$246,787-$246,787
Other Land Buildings$0$146,340$146,340
Equipment$0$3,705$3,705
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$316,770
Program Service Revenue
$186,398
Investment Income
$69
Other Revenue
$5,090
Change in Net Assets
$-109,290

Audited Revenue Reconciliation

Revenue per Audited Statements
$508,327
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$15,600
Total Revenue per Audited Statements
$523,927
Total Revenue per Form 990
$508,327
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$617,617
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$267,802--$267,802
Fees for Services Other$142,507--$142,507
Depreciation Depletion$132,216--$132,216
Fees for Services Management$1,380$20,160-$21,540
Other Expenses$20,294--$20,294
Office Expenses$17,393--$17,393
Fees for Services Accounting-$14,610-$14,610
Conferences and Meetings$738--$738
Interest$407--$407
Fees for Services Legal$110--$110
Total Functional Expenses$582,847$34,770$0$617,617

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$633,217
Expenses per Audited Statements$617,617
Total Expenses per Form 990$617,617
Expenses Not Reported on Form 990$15,600
Expenses Not Reported on Financial Statements$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
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

Tcb serves as the management agent for the project. The management fee is calculated as $40 per unit per month. The management agreement is in effect until canceled by hud, the corporation or the management agent. During the year ended june 30, 2020, management fees of $20,160 were incurred.

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

An officer of the management company reviews the return prior to filing.

Form 990, Part VI, Section C, Line 19

The organization makes all of its governing documents, audited financial statements, and form 990s available upon request.

Filing and Contact Details

Filer

Filer Name
Victory Gardens Inc
EIN
52-2366069
Phone
8572218600
Address
CO TCB INC 185 DARTMOUTH STREET, BOSTON, MA 02116

Signing Officer

Name
Susan Mccann
Title
President
Phone
8572218600
Signed
2020-10-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Mccann
Formed
2002
Legal Domicile
Ct
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Kevin P Martin & Associates Pc
Address
10 FORBES WEST, BRAINTREE, MA 02184
Preparer
Jolanta Tuck CPA
Phone
7813803520
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Management services: program service expenses 142,507. Management and general expenses 0. Fundraising expenses 0. Total expenses 142,507.

Financial Statement Notes

PART IV, LINE 2B:

The corporation has a policy to collect security deposits of up to one month's rent from tenants. The security deposits can be used to pay for damages caused by the tenant or used against unpaid receivables.

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt036
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt048
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0437
IRS990ScheduleA/InvestmentIncomeCYPct00.00020
IRS990ScheduleA/InvestmentIncomePYPct00.00020
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt05090
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt03100
IRS990ScheduleA/OtherIncome509Grp/TotalAmt08190
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99650
IRS990ScheduleA/PublicSupportPY509Pct00.99860
IRS990ScheduleA/PublicSupportTotal509Amt02467694
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0503168
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0471186
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0491382
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0499053
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0502905
IRS990ScheduleA/Total509Grp/TotalAmt02467694
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0508327
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0474512
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0491440
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0499089
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0502953
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02476321
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/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02965235
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01878698
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04843933
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt015600
IRS990ScheduleD/DonatedServicesUseFcltsAmt015600
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03705
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03705
IRS990ScheduleD/ExpensesNotReportedAmt015600
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0617617
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LandGrp/BookValueAmt0246787
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0246787
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0146340
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0146340
IRS990ScheduleD/RevenueNotReportedAmt015600
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0508327
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS A POLICY TO COLLECT SECURITY DEPOSITS OF UP TO ONE MONTH'S RENT FROM TENANTS. THE SECURITY DEPOSITS CAN BE USED TO PAY FOR DAMAGES CAUSED BY THE TENANT OR USED AGAINST UNPAID RECEIVABLES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03212022
IRS990ScheduleD/TotalExpensesPerForm990Amt0617617
IRS990ScheduleD/TotalRevenuePerForm990Amt0508327
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0523927
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0633217
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TCB SERVES AS THE MANAGEMENT AGENT FOR THE PROJECT. THE MANAGEMENT FEE IS CALCULATED AS $40 PER UNIT PER MONTH. THE MANAGEMENT AGREEMENT IS IN EFFECT UNTIL CANCELED BY HUD, THE CORPORATION OR THE MANAGEMENT AGENT. DURING THE YEAR ENDED JUNE 30, 2020, MANAGEMENT FEES OF $20,160 WERE INCURRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AN OFFICER OF THE MANAGEMENT COMPANY REVIEWS THE RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ALL OF ITS GOVERNING DOCUMENTS, AUDITED FINANCIAL STATEMENTS, AND FORM 990S AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 142,507. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 142,507.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CT
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03480073
IRS990/TotalAssetsEOYAmt03384405
IRS990/TotalAssetsGrp/BOYAmt03480073
IRS990/TotalAssetsGrp/EOYAmt03384405
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0316770
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt034770
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0582847
IRS990/TotalFunctionalExpensesGrp/TotalAmt0617617
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0226673
IRS990/TotalLiabilitiesEOYAmt0240295
IRS990/TotalLiabilitiesGrp/BOYAmt0226673
IRS990/TotalLiabilitiesGrp/EOYAmt0240295
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03253400
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03144110
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0582847
IRS990/TotalProgramServiceRevenueAmt0186398
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt069
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0191488
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0508327
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03480073
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03384405
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt040772
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt041179
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0C/O TCB INC 185 DARTMOUTH STREET
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002116
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SUSAN MCCANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08572218600
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VICTORY GARDENS INC
ReturnHeader/Filer/BusinessNameControlTxt0VICT
ReturnHeader/Filer/EIN0522366069
ReturnHeader/Filer/PhoneNum08572218600

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$3.10$0.12$2.98$0.58$0.66$0.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.18$0.12$3.06$0.58$0.68$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.27$0.10$3.16$0.57$0.55$0.02
2020Detailed filing. Detailed filing data is available for this year.$3.38$0.24$3.14$0.51$0.62$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.48$0.23$3.25$0.47$0.61$0.13
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.61$0.23$3.38$0.49$0.63$0.14
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.74$0.22$3.53$0.50$0.53$0.03
2016Detailed filing. Detailed filing data is available for this year.$3.82$0.27$3.56$0.50$0.55$0.05
2015Detailed filing. Detailed filing data is available for this year.$3.92$0.32$3.60$0.50$0.64$0.13
2014Detailed filing. Detailed filing data is available for this year.$4.11$0.37$3.74$0.37$0.52$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.24$0.35$3.88$0.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.38$0.30$4.08$0.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.47$0.26$4.21$0.45