Civic Intelligence

Residential Options Inc.

990 • Fiscal year 2014 • EIN 54-1614700

Jan 01, 2014 to Dec 31, 2014 • Filed on May 08, 2015

Organization ProfileN/A
440 Monticello Avenue Suite 1400Norfolk, VA 23510

(757) 624-5100

Siviq Scores

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

Liabilities / Assets

84th percentile

0.67x

Higher debt load relative to assets than 84% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

93rd percentile

3.77x

Higher debt load relative to revenue than 93% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

27th percentile

-5.1%

Higher net margin than 27% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

27th percentile

-3.1%

Faster asset growth than 27% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

41st percentile

0.5%

Faster revenue growth than 41% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$1,081,577

Down $35,095 (-3.1%) from 2013

Net Assets

Down

$355,011

Down $9,831 (-2.7%) from 2013

Liabilities

Down

$726,566

Down $25,264 (-3.4%) from 2013

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin27th percentile

Revenue

Up

$192,650

Up $1,053 (+0.5%) from 2013

Expenses

Up

$202,481

Up $11,210 (+5.9%) from 2013

Net Income

Down

-$9,831

Down $10,157 (-3116%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $1,191,065Liabilities 2010: $827,308Net Assets 2010: $363,7572010Assets 2011: $1,180,564Liabilities 2011: $797,071Net Assets 2011: $383,4932011Assets 2012: $1,143,828Liabilities 2012: $779,312Net Assets 2012: $364,5162012Assets 2013: $1,116,672Liabilities 2013: $751,830Net Assets 2013: $364,8422013Assets 2014: $1,081,577Liabilities 2014: $726,566Net Assets 2014: $355,0112014Assets 2015: $1,011,848Liabilities 2015: $698,519Net Assets 2015: $313,3292015Assets 2016: $944,014Liabilities 2016: $665,898Net Assets 2016: $278,1162016Assets 2017: $890,001Liabilities 2017: $665,216Net Assets 2017: $224,7852017Assets 2018: $917,919Liabilities 2018: $791,074Net Assets 2018: $126,8452018Assets 2019: $1,045,010Liabilities 2019: $966,573Net Assets 2019: $78,4372019Assets 2020: $1,187,511Liabilities 2020: $928,026Net Assets 2020: $259,4852020Assets 2021: $1,148,921Liabilities 2021: $869,181Net Assets 2021: $279,7402021Assets 2022: $1,237,402Liabilities 2022: $1,019,291Net Assets 2022: $218,1112022

Highlighted filing

2014

Assets$1,081,577
Liabilities$726,566
Net Assets$355,011
Open 2014 Filing

Operations Trend

Revenue Growth41st percentile

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

$400K$200K$0-$200KExpenses 2010: $301,6772010Expenses 2011: $150,2842011Expenses 2012: $183,8082012Revenue 2013: $191,597Expenses 2013: $191,271Net Income 2013: $3262013Revenue 2014: $192,650Expenses 2014: $202,481Net Income 2014: -$9,8312014Revenue 2015: $157,054Expenses 2015: $198,736Net Income 2015: -$41,6822015Revenue 2016: $158,138Expenses 2016: $193,351Net Income 2016: -$35,2132016Revenue 2017: $111,970Expenses 2017: $165,301Net Income 2017: -$53,3312017Revenue 2018: $101,550Expenses 2018: $199,490Net Income 2018: -$97,9402018Revenue 2019: $132,986Expenses 2019: $181,394Net Income 2019: -$48,4082019Revenue 2020: $341,568Expenses 2020: $174,962Net Income 2020: $166,6062020Revenue 2021: $220,290Expenses 2021: $200,632Net Income 2021: $19,6582021Revenue 2022: $137,356Expenses 2022: $195,613Net Income 2022: -$58,2572022

Highlighted filing

2014

Revenue$192,650
Expenses$202,481
Net Income-$9,831
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 8, 2015
Return Version
2014v5.0
Gross Receipts
$192,650
Mission and Program Overview

Mission

To provide housing for the mentally disadvantaged citizens of norfolk.

To provide housing for the mentally disadvantaged.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$787,547$765,111▼ $22,436
Rtn Earn Endowment Incm Other Fnds$364,842$355,011▼ $9,831
Cash and Non-Interest-Bearing Accounts$236,200$204,578▼ $31,622
Prepaid Expenses and Deferred Charges$12,487$17,926▲ $5,439
Intangible Assets$9,281$8,825▼ $456
Accounts Receivable-$6,439-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,116,672$1,081,577▼ $35,095
Other Assets Total$71,157$78,698▲ $7,541
Liabilities
Mortgage Notes Payable Secured by Investment Property$741,844$715,256▼ $26,588
Accounts Payable and Accrued Expenses$9,986$11,310▲ $1,324
Total Liabilities$751,830$726,566▼ $25,264
Net Assets / Fund Balance
Total Net Assets Fund Balance$364,842$355,011▼ $9,831
Total Liabilities and Net Assets / Fund Balance$1,116,672$1,081,577▼ $35,095

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$591,402$353,583$944,985
Land$143,750-$143,750
Other Land Buildings$29,959$81,489$111,448
Other Assets Org$73,312--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Bruce C HolbrookPresident
Gary HammondDirector
Lou Anne TempletonDirector
Thomas WeaverDirector
William MelchersDirector
Linda MccluneyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$191,950
Investment Income
$700
Other Revenue
$0
Change in Net Assets
$-9,831
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$197,681
Salaries, Compensation, and Employee Benefits$4,800
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$41,007--$41,007
Depreciation Depletion$27,859--$27,859
Insurance$17,696--$17,696
Fees for Services Management$13,200--$13,200
Other Salaries and Wages$4,800--$4,800
Fees for Services Legal-$4,733-$4,733
Other Expenses$25--$25
Total Functional Expenses$197,748$4,733$0$202,481
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The organization's board of directors members review form 990 prior to its filing.”

Form 990, Part VI, Section C, Line 19

“Organization makes governing documents, conflict of interest policy, and financial statements available to the public upon request. Financial statements are also available for public inspection through guide star.”

Filing and Contact Details

Filer

Filer Name
Residential Options Inc
EIN
54-1614700
Phone
7576245100
Address
440 MONTICELLO AVENUE SUITE 1400, NORFOLK, VA 23510

Signing Officer

Name
Bruce C Holbrook
Title
President
Phone
7576245100
Signed
2015-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce C Holbrook
Formed
1992
Legal Domicile
Va
Voting Board Members
6
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Dixon Hughes Goodman Llp
Address
440 MONTICELLO AVE SUITE 1400, NORFOLK, VA 23510
Preparer
Jay M Friedman CPA
Phone
7576245100
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code; accordingly, the balances do not reflect a provision or liability for federal and state income taxes. The organization has determined that it does not have any material unrecognized tax benefits or obligations as of december 31, 2014. Fiscal years ending on or after december 31, 2011 remain subject to examination by federal and state tax authorities.”

Raw XML Appendix348 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE BALANCES DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2014. FISCAL YEARS ENDING ON OR AFTER DECEMBER 31, 2011 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S BOARD OF DIRECTORS MEMBERS REVIEW FORM 990 PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR PUBLIC INSPECTION THROUGH GUIDE STAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalLiabilitiesBOYAmt0751830
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IRS990/USAddress/ZIPCd023510
IRS990/VotingMembersGoverningBodyCnt06
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE C HOLBROOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07576245100
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RESIDENTIAL OPTIONS INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O DIXON HUGHES GOODMAN LLP
ReturnHeader/Filer/BusinessNameControlTxt0RESI
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DIXON HUGHES GOODMAN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0440 MONTICELLO AVE SUITE 1400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023510
ReturnHeader/PreparerPersonGrp/PhoneNum07576245100
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAY M FRIEDMAN CPA
ReturnHeader/ReturnTs02015-05-12T13:19:00-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,081,577
Liabilities
$726,566
Net assets
$355,011
Revenue
$192,650
Expenses
$202,481
Net income
-$9,831
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$1.24$1.02$0.22$0.14$0.20$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.15$0.87$0.28$0.22$0.20$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.19$0.93$0.26$0.34$0.17$0.17
2019Detailed filing. Detailed filing data is available for this year.$1.05$0.97$0.08$0.13$0.18$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.92$0.79$0.13$0.10$0.20$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.89$0.67$0.22$0.11$0.17$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.94$0.67$0.28$0.16$0.19$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.01$0.70$0.31$0.16$0.20$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.08$0.73$0.36$0.19$0.20$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.12$0.75$0.36$0.19$0.19$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.78$0.36$0.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.80$0.38$0.15
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.19$0.83$0.36$0.30