Civic Intelligence

Residential Options Inc.

990 • Fiscal year 2015 • EIN 54-1614700

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 17, 2016

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

85th percentile

0.69x

Higher debt load relative to assets than 85% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

94th percentile

4.45x

Higher debt load relative to revenue than 94% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

11th percentile

-27%

Higher net margin than 11% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

18th percentile

-6.4%

Faster asset growth than 18% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

16th percentile

-18%

Faster revenue growth than 16% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$1,011,848

Down $69,729 (-6.4%) from 2014

Net Assets

Down

$313,329

Down $41,682 (-12%) from 2014

Liabilities

Down

$698,519

Down $28,047 (-3.9%) from 2014

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin11th percentile

Revenue

Down

$157,054

Down $35,596 (-18%) from 2014

Expenses

Down

$198,736

Down $3,745 (-1.8%) from 2014

Net Income

Down

-$41,682

Down $31,851 (-324%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth18th 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

2015

Assets$1,011,848
Liabilities$698,519
Net Assets$313,329
Open 2015 Filing

Operations Trend

Revenue Growth16th 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

2015

Revenue$157,054
Expenses$198,736
Net Income-$41,682
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 17, 2016
Return Version
2015v2.1
Gross Receipts
$157,054
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$765,111$737,397▼ $27,714
Rtn Earn Endowment Incm Other Fnds$355,011$313,329▼ $41,682
Cash and Non-Interest-Bearing Accounts$204,578$158,727▼ $45,851
Prepaid Expenses and Deferred Charges$17,926$19,395▲ $1,469
Intangible Assets$8,825$8,369▼ $456
Accounts Receivable$6,439$2,395▼ $4,044
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,081,577$1,011,848▼ $69,729
Other Assets Total$78,698$85,565▲ $6,867
Liabilities
Mortgage Notes Payable Secured by Investment Property$715,256$687,078▼ $28,178
Accounts Payable and Accrued Expenses$11,310$11,441▲ $131
Total Liabilities$726,566$698,519▼ $28,047
Net Assets / Fund Balance
Total Net Assets Fund Balance$355,011$313,329▼ $41,682
Total Liabilities and Net Assets / Fund Balance$1,081,577$1,011,848▼ $69,729

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$567,778$377,207$944,985
Land$143,750-$143,750
Other Land Buildings$25,869$85,579$111,448
Other Assets Org$80,986--
Compensation and Service Providers
Top Officer Pay35th 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
$155,099
Investment Income
$637
Other Revenue
$1,318
Change in Net Assets
$-41,682
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$194,616
Salaries, Compensation, and Employee Benefits$4,120
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$39,402--$39,402
Depreciation Depletion$28,170--$28,170
Insurance$23,874--$23,874
Fees for Services Management$12,900--$12,900
Fees for Services Legal-$5,273-$5,273
Other Salaries and Wages$4,120--$4,120
Other Expenses$3,459--$3,459
All Other Expenses$27--$27
Total Functional Expenses$193,463$5,273$0$198,736
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
2016-06-17
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 Appendix354 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.
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IRS990/ScheduleJRequiredInd00
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt01011848
IRS990/TotalAssetsGrp/BOYAmt01081577
IRS990/TotalAssetsGrp/EOYAmt01011848
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05273
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0193463
IRS990/TotalFunctionalExpensesGrp/TotalAmt0198736
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0726566
IRS990/TotalLiabilitiesEOYAmt0698519
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IRS990/TotalLiabilitiesGrp/EOYAmt0698519
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0355011
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0313329
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0193463
IRS990/TotalProgramServiceRevenueAmt0155099
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0637
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0156417
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0157054
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/USAddress/CityNm0NORFOLK
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023510
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE C HOLBROOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07576245100
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-06-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RESIDENTIAL OPTIONS INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O DIXON HUGHES GOODMAN LLP
ReturnHeader/Filer/BusinessNameControlTxt0RESI
ReturnHeader/Filer/EIN0541614700
ReturnHeader/Filer/PhoneNum07576245100
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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/ReturnTs02016-06-28T11:52:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,011,848
Liabilities
$698,519
Net assets
$313,329
Revenue
$157,054
Expenses
$198,736
Net income
-$41,682
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