Civic Intelligence

Fairfax Education Association Retirement Housing Corp T/A Tysons Tower

990 • Fiscal year 2015 • EIN 54-1031421

Jan 01, 2015 to Dec 31, 2015 • Filed on May 04, 2016

8500 Tyspring StreetVienna, VA 22182

(703) 281-2080

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.31x

Higher debt load relative to assets than 62% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

77th percentile

0.77x

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

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

85th percentile

32%

Higher net margin than 85% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

64th percentile

4.5%

Faster asset growth than 64% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

63rd percentile

8.3%

Faster revenue growth than 63% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Up

$6,118,719

Up $262,907 (+4.5%) from 2014

Net Assets

Up

$4,199,714

Up $790,201 (+23%) from 2014

Liabilities

Down

$1,919,005

Down $527,294 (-22%) from 2014

Revenue

Up

$2,482,308

Up $190,527 (+8.3%) from 2014

Expenses

Down

$1,692,107

Down $38,519 (-2.2%) from 2014

Net Income

Up

$790,201

Up $229,046 (+41%) from 2014

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $5,529,227Liabilities 2011: $3,659,467Net Assets 2011: $1,869,7602011Assets 2012: $5,618,506Liabilities 2012: $3,271,149Net Assets 2012: $2,347,3572012Assets 2013: $5,704,240Liabilities 2013: $2,855,882Net Assets 2013: $2,848,3582013Assets 2014: $5,855,812Liabilities 2014: $2,446,299Net Assets 2014: $3,409,5132014Assets 2015: $6,118,719Liabilities 2015: $1,919,005Net Assets 2015: $4,199,7142015Assets 2016: $6,594,096Liabilities 2016: $1,619,375Net Assets 2016: $4,974,7212016Assets 2017: $17,468,252Liabilities 2017: $10,660,111Net Assets 2017: $6,808,1412017Assets 2018: $26,801,227Liabilities 2018: $20,232,687Net Assets 2018: $6,568,5402018Assets 2019: $25,797,520Liabilities 2019: $18,434,234Net Assets 2019: $7,363,2862019Assets 2020: $26,840,180Liabilities 2020: $18,152,223Net Assets 2020: $8,687,9572020Assets 2021: $27,622,321Liabilities 2021: $17,912,616Net Assets 2021: $9,709,7052021Assets 2022: $28,330,253Liabilities 2022: $17,640,110Net Assets 2022: $10,690,1432022Assets 2023: $29,656,261Liabilities 2023: $17,353,571Net Assets 2023: $12,302,6902023Assets 2024: $30,951,923Liabilities 2024: $17,045,964Net Assets 2024: $13,905,9592024

Highlighted filing

2015

Assets$6,118,719
Liabilities$1,919,005
Net Assets$4,199,714

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $2,090,491Expenses 2011: $1,677,524Net Income 2011: $412,9672011Expenses 2012: $1,734,0032012Revenue 2013: $2,271,973Expenses 2013: $1,770,972Net Income 2013: $501,0012013Revenue 2014: $2,291,781Expenses 2014: $1,730,626Net Income 2014: $561,1552014Revenue 2015: $2,482,308Expenses 2015: $1,692,107Net Income 2015: $790,2012015Revenue 2016: $2,488,805Expenses 2016: $1,713,798Net Income 2016: $775,0072016Revenue 2017: $4,482,479Expenses 2017: $2,649,059Net Income 2017: $1,833,4202017Revenue 2018: $3,928,917Expenses 2018: $4,168,518Net Income 2018: -$239,6012018Revenue 2019: $4,781,698Expenses 2019: $3,986,952Net Income 2019: $794,7462019Revenue 2020: $4,960,827Expenses 2020: $3,636,156Net Income 2020: $1,324,6712020Revenue 2021: $5,034,125Expenses 2021: $4,012,377Net Income 2021: $1,021,7482021Revenue 2022: $5,307,616Expenses 2022: $4,327,178Net Income 2022: $980,4382022Revenue 2023: $5,799,715Expenses 2023: $4,187,168Net Income 2023: $1,612,5472023Revenue 2024: $6,014,988Expenses 2024: $4,411,719Net Income 2024: $1,603,2692024

Highlighted filing

2015

Revenue$2,482,308
Expenses$1,692,107
Net Income$790,201
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 4, 2016
Return Version
2015v2.1
Gross Receipts
$2,482,308
Mission and Program Overview

Mission

Provide affordable housing for active and retired educators, elderly persons, and handicapped persons in a 274 unit apartment building.

SEE ATTACHED SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,128,558$4,079,774▼ $48,784
Investments Program Related$856,907$1,139,424▲ $282,517
Intangible Assets$71,838$114,495▲ $42,657
Cash and Non-Interest-Bearing Accounts$192,335$57,988▼ $134,347
Prepaid Expenses and Deferred Charges$42,015$43,223▲ $1,208
Accounts Receivable$33,263$39,764▲ $6,501
Savings and Temporary Cash Investments$26,572$26,568▼ $4
Total Assets$5,855,812$6,118,719▲ $262,907
Other Assets Total$504,324$617,483▲ $113,159
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,202,555$1,689,646▼ $512,909
Escrow Account Liability$116,921$121,277▲ $4,356
Accounts Payable and Accrued Expenses$97,143$87,464▼ $9,679
Deferred Revenue$29,680$20,618▼ $9,062
Total Liabilities$2,446,299$1,919,005▼ $527,294
Net Assets / Fund Balance
Unrestricted Net Assets$3,409,513$4,199,714▲ $790,201
Total Net Assets Fund Balance$3,409,513$4,199,714▲ $790,201
Total Liabilities and Net Assets / Fund Balance$5,855,812$6,118,719▲ $262,907

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,350,458$6,579,755$9,930,213
Equipment$316,816$651,876$968,692
Land$412,500-$412,500
Investment Program Related Org$1,139,424--
Other Assets Org$86,984--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dennis J PfennigPresident
Mimi DashVice President
Cheryl PerryDirector
John F DuncanDirector
Kathryn DavisDirector
Kitty ReipDirector
Larry ArmentroutDirector
Lyudmila NaritsinaDirector
Walter J MikaDirector
Karen BeasleySecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Martin General ContractorRenovations, Repairs, Painting, Flooring1105 SOUTH CULPEPER ROAD, Sterling, VA 20164$281,513
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,479,303
Investment Income
$3,005
Other Revenue
$0
Change in Net Assets
$790,201

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,482,308
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,482,308
Total Revenue per Form 990
$2,482,308
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,139,037
Salaries, Compensation, and Employee Benefits$553,070
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$522,604--$522,604
Other Salaries and Wages$148,145$318,785-$466,930
Depreciation Depletion$290,297--$290,297
Fees for Services Management$102,336--$102,336
Other Employee Benefits$15,125$32,547-$47,672
Office Expenses$39,916--$39,916
Payroll Taxes$9,823$21,136-$30,959
Fees for Services Accounting-$20,398-$20,398
Insurance$18,678--$18,678
Advertising$11,608--$11,608
Pension Plan Contributions$2,382$5,127-$7,509
Fees for Services Other$874$1,881-$2,755
Conferences and Meetings$2,624--$2,624
Other Expenses$1,780--$1,780
Fees for Services Legal-$917-$917
Total Functional Expenses$1,291,316$400,791$0$1,692,107

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,692,107
Total Expenses per Audited Statements$1,692,107
Total Expenses per Form 990$1,692,107
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 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

Polinger shannon and luchs manages the project in accordance with a property management agreement. The agreement is in effect for a period of three years beginning on january 1, 2010 and ending on december 31, 2013. The contract was renewed during 2013 for an additional three years through december 31, 2016 with the same terms.

Form 990, Part VI, Section B, Line 11

The draft tax return is sent to the board of directors for review and approval prior to finalizing. During the review process, the board of directors discuss any questions resulting from the review. Once all the questions have been resolved, the tax return is approved by the board.

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

At each annual meeting and when new directors are elected, a copy of the conflict of interest resolution is distributed. Each director and/or officer are required to disclose to the board of directors any actual or potential conflicts of interest. Individuals party to any conflicts of interest are precluded from voting on any matters associated with the arrangement or transaction involving such conflict.

Form 990, Part VI, Section B, Line 15

Form 990, part vi, section b, 15b: none of the enumerated individuals received compensation from the organization during the tax year.

Form 990, Part VI, Section C, Line 19

Governing documents available upon request.

Filing and Contact Details

Filer

Filer Name
Fairfax Education Association Retirement
EIN
54-1031421
Phone
7032812080
Address
8500 TYSPRING STREET, VIENNA, VA 22182

Signing Officer

Name
Dennis Pfennig
Title
President
Phone
7032812080
Signed
2016-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Pfennig
Formed
1973
Legal Domicile
Va
Voting Board Members
10
Independent Board Members
10
Employees
10
Volunteers
0

Preparer

Firm
Hertzbach & Company Pa
Address
800 RED BROOK BLVD SUITE 300, OWINGS MILLS, MD 21117
Preparer
Jeffrey M Kleeman
Phone
4103633200
Supplemental Narrative

Additional Explanations

Form 990, Part XI Line 2C

N/a - no changes from prior year

Form 990, Part I, Line 1

Provide affordable housing for active and retired educators, elderly persons, and handicapped persons in a 274 unit apartment building.

Financial Statement Notes

PART IV, LINE 2B:

Virginia rent escrow law requires the corporation to maintain a separate account for deposits paid by the tenants, and to credit the deposits annually with interest at 4% below the federal reserve board discount rate as of january 1 of each year. The amount on the accompanying balance sheet represents funds deposited in a savings account with a balance which is at least equal to the tenants' security deposits. Tenant security deposits are held in a federally insured bank.

PART X, LINE 2:

No provision or benefit for income taxes has been included in these financial statements, since the corporation is exempt from taxes under internal revenue code section 501(c)(3). The project has adopted fasb asc 740, income taxes, which clarifies the accounting for uncertainty in income taxes. Based on its evaluation, the project has concluded that there are no significant uncertain tax positions requiring recognition in the financial statements. No interest or penalties have been recorded as a result of tax uncertainties. The tax years ended december 31, 2012 through december 31, 2015 remain open to examination by tax jurisdictions to which the project is subject.

Raw XML AppendixShowing 400 of 489 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/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt01139424
IRS990/IRPDocumentCnt030
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt07231631
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04128558
IRS990/LandBldgEquipBasisNetGrp/EOYAmt04079774
IRS990/LandBldgEquipCostOrOtherBssAmt011311405
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0PROVIDE AFFORDABLE HOUSING FOR ACTIVE AND RETIRED EDUCATORS, ELDERLY PERSONS, AND HANDICAPPED PERSONS IN A 274 UNIT APARTMENT BUILDING.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt02202555
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01689646
IRS990/NetAssetsOrFundBalancesBOYAmt03409513
IRS990/NetAssetsOrFundBalancesEOYAmt04199714
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0522604
IRS990/OccupancyGrp/TotalAmt0522604
IRS990/OfficeExpensesGrp/ProgramServicesAmt039916
IRS990/OfficeExpensesGrp/TotalAmt039916
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0504324
IRS990/OtherAssetsTotalGrp/EOYAmt0617483
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt032547
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt015125
IRS990/OtherEmployeeBenefitsGrp/TotalAmt047672
IRS990/OtherExpensesGrp/Desc0RENT EXPENSE
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc3BAD DEBT
IRS990/OtherExpensesGrp/ProgramServicesAmt059526
IRS990/OtherExpensesGrp/ProgramServicesAmt146046
IRS990/OtherExpensesGrp/ProgramServicesAmt219552
IRS990/OtherExpensesGrp/ProgramServicesAmt31780
IRS990/OtherExpensesGrp/TotalAmt059526
IRS990/OtherExpensesGrp/TotalAmt146046
IRS990/OtherExpensesGrp/TotalAmt219552
IRS990/OtherExpensesGrp/TotalAmt31780
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0318785
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0148145
IRS990/OtherSalariesAndWagesGrp/TotalAmt0466930
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt021136
IRS990/PayrollTaxesGrp/ProgramServicesAmt09823
IRS990/PayrollTaxesGrp/TotalAmt030959
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt05127
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02382
IRS990/PensionPlanContributionsGrp/TotalAmt07509
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt042015
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt043223
IRS990/PrincipalOfficerNm0DENNIS PFENNIG
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/BusinessCd3531110
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1LAUNDRY, VENDING & CAB
IRS990/ProgramServiceRevenueGrp/Desc2TENANT CHARGES
IRS990/ProgramServiceRevenueGrp/Desc3MISCELLANEOUS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02453366
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt124026
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21783
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3128
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02453366
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt124026
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21783
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3128
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-107704
IRS990/PYOtherExpensesAmt01175168
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02399485
IRS990/PYRevenuesLessExpensesAmt0561155
IRS990/PYSalariesCompEmpBnftPaidAmt0555458
IRS990/PYTotalExpensesAmt01730626
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02291781
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0790201
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt02479303
IRS990/SavingsAndTempCashInvstGrp/BOYAmt026572
IRS990/SavingsAndTempCashInvstGrp/EOYAmt026568
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt03005
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt02385
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt02474
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt02465
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01966
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt012295
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02479303
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02399485
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02269498
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt02209135
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02088525
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt011445946
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03005
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt02385
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02474
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt02465
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01966
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt012295
IRS990ScheduleA/InvestmentIncomeCYPct00.00110
IRS990ScheduleA/InvestmentIncomePYPct00.00110
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99890
IRS990ScheduleA/PublicSupportPY509Pct00.99890
IRS990ScheduleA/PublicSupportTotal509Amt011445946
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02479303
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02399485
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02269498
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt02209135
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt02088525
IRS990ScheduleA/Total509Grp/TotalAmt011445946
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02482308
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02401870
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02271972
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02211600
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02090491
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt011458241
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03350458
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06579755
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09930213
IRS990ScheduleD/EquipmentGrp/BookValueAmt0316816
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0651876
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0968692
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01692107
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01139424
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt0412500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0412500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0121277
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1409222
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt286984
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROWS AND OTHER RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2CONSTRUCTION IN PROGRESS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02482308
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0VIRGINIA RENT ESCROW LAW REQUIRES THE CORPORATION TO MAINTAIN A SEPARATE ACCOUNT FOR DEPOSITS PAID BY THE TENANTS, AND TO CREDIT THE DEPOSITS ANNUALLY WITH INTEREST AT 4% BELOW THE FEDERAL RESERVE BOARD DISCOUNT RATE AS OF JANUARY 1 OF EACH YEAR. THE AMOUNT ON THE ACCOMPANYING BALANCE SHEET REPRESENTS FUNDS DEPOSITED IN A SAVINGS ACCOUNT WITH A BALANCE WHICH IS AT LEAST EQUAL TO THE TENANTS' SECURITY DEPOSITS. TENANT SECURITY DEPOSITS ARE HELD IN A FEDERALLY INSURED BANK.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN INCLUDED IN THESE FINANCIAL STATEMENTS, SINCE THE CORPORATION IS EXEMPT FROM TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). THE PROJECT HAS ADOPTED FASB ASC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. BASED ON ITS EVALUATION, THE PROJECT HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. NO INTEREST OR PENALTIES HAVE BEEN RECORDED AS A RESULT OF TAX UNCERTAINTIES. THE TAX YEARS ENDED DECEMBER 31, 2012 THROUGH DECEMBER 31, 2015 REMAIN OPEN TO EXAMINATION BY TAX JURISDICTIONS TO WHICH THE PROJECT IS SUBJECT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04079774
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0617483
IRS990ScheduleD/TotalBookValueProgramRltdAmt01139424
IRS990ScheduleD/TotalExpensesPerForm990Amt01692107
IRS990ScheduleD/TotalRevenuePerForm990Amt02482308
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02482308
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01692107
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0POLINGER SHANNON AND LUCHS MANAGES THE PROJECT IN ACCORDANCE WITH A PROPERTY MANAGEMENT AGREEMENT. THE AGREEMENT IS IN EFFECT FOR A PERIOD OF THREE YEARS BEGINNING ON JANUARY 1, 2010 AND ENDING ON DECEMBER 31, 2013. THE CONTRACT WAS RENEWED DURING 2013 FOR AN ADDITIONAL THREE YEARS THROUGH DECEMBER 31, 2016 WITH THE SAME TERMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DRAFT TAX RETURN IS SENT TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FINALIZING. DURING THE REVIEW PROCESS, THE BOARD OF DIRECTORS DISCUSS ANY QUESTIONS RESULTING FROM THE REVIEW. ONCE ALL THE QUESTIONS HAVE BEEN RESOLVED, THE TAX RETURN IS APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AT EACH ANNUAL MEETING AND WHEN NEW DIRECTORS ARE ELECTED, A COPY OF THE CONFLICT OF INTEREST RESOLUTION IS DISTRIBUTED. EACH DIRECTOR AND/OR OFFICER ARE REQUIRED TO DISCLOSE TO THE BOARD OF DIRECTORS ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. INDIVIDUALS PARTY TO ANY CONFLICTS OF INTEREST ARE PRECLUDED FROM VOTING ON ANY MATTERS ASSOCIATED WITH THE ARRANGEMENT OR TRANSACTION INVOLVING SUCH CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990, PART VI, SECTION B, 15B: NONE OF THE ENUMERATED INDIVIDUALS RECEIVED COMPENSATION FROM THE ORGANIZATION DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS AVAILABLE UPON REQUEST.

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.0$17.0$13.9$6.01$4.41$1.60
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.7$17.4$12.3$5.80$4.19$1.61
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.3$17.6$10.7$5.31$4.33$0.98
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.6$17.9$9.71$5.03$4.01$1.02
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.8$18.2$8.69$4.96$3.64$1.32
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.8$18.4$7.36$4.78$3.99$0.79
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.8$20.2$6.57$3.93$4.17$0.24
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.5$10.7$6.81$4.48$2.65$1.83
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.59$1.62$4.97$2.49$1.71$0.78
2015Detailed filing. Detailed filing data is available for this year.$6.12$1.92$4.20$2.48$1.69$0.79
2014Detailed filing. Detailed filing data is available for this year.$5.86$2.45$3.41$2.29$1.73$0.56
2013Detailed filing. Detailed filing data is available for this year.$5.70$2.86$2.85$2.27$1.77$0.50
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.62$3.27$2.35$1.73
2011Summary only. Only limited summary data is available for this year.$5.53$3.66$1.87$2.09$1.68$0.41