Civic Intelligence

Elder Spirit Development Co

990 • Fiscal year 2023 • EIN 54-1932560

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 01, 2024

Organization ProfileWWW.ELDERSPIRIT.ORG
125 Elderspirit CourtAbingdon, VA 24210

(276) 525-4704

Siviq Scores

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

Liabilities / Assets

95th percentile

1.16x

Higher debt load relative to assets than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

10.13x

Higher debt load relative to revenue than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

6th percentile

-59%

Higher net margin than 6% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

16th percentile

-7.8%

Faster asset growth than 16% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

65th percentile

18%

Faster revenue growth than 65% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

Flat

$1,351,135

Flat from 2023

Net Assets

Flat

-$221,060

Flat from 2023

Liabilities

Flat

$1,572,195

Flat from 2023

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin6th percentile

Revenue

Flat

$155,264

Flat from 2023

Expenses

Flat

$247,081

Flat from 2023

Net Income

Flat

-$91,817

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $2,004,262Liabilities 2010: $1,693,952Net Assets 2010: $310,3102010Assets 2011: $1,974,706Liabilities 2011: $1,703,897Net Assets 2011: $270,8092011Assets 2012: $1,938,974Liabilities 2012: $1,699,541Net Assets 2012: $239,4332012Assets 2013: $1,927,740Liabilities 2013: $1,706,611Net Assets 2013: $221,1292013Assets 2014: $1,896,258Liabilities 2014: $1,717,569Net Assets 2014: $178,6892014Assets 2015: $1,844,671Liabilities 2015: $1,725,227Net Assets 2015: $119,4442015Assets 2016: $1,752,118Liabilities 2016: $1,708,444Net Assets 2016: $43,6742016Assets 2017: $1,681,460Liabilities 2017: $1,693,781Net Assets 2017: -$12,3212017Assets 2018: $1,732,369Liabilities 2018: $1,674,977Net Assets 2018: $57,3922018Assets 2019: $1,667,140Liabilities 2019: $1,656,107Net Assets 2019: $11,0332019Assets 2020: $1,590,947Liabilities 2020: $1,636,357Net Assets 2020: -$45,4102020Assets 2021: $1,581,217Liabilities 2021: $1,614,764Net Assets 2021: -$33,5472021Assets 2022: $1,465,577Liabilities 2022: $1,594,820Net Assets 2022: -$129,2432022Assets 2023: $1,351,135Liabilities 2023: $1,572,195Net Assets 2023: -$221,0602023Assets 2023: $1,351,135Liabilities 2023: $1,572,195Net Assets 2023: -$221,0602023

Highlighted filing

2023

Assets$1,351,135
Liabilities$1,572,195
Net Assets-$221,060
Open 2023 Filing

Operations Trend

Revenue Growth65th percentile

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

$300K$200K$100K$0-$100KRevenue 2010: -$30,881Expenses 2010: $22,185Net Income 2010: -$53,0662010Revenue 2011: $104,400Expenses 2011: $143,901Net Income 2011: -$39,5012011Revenue 2012: $108,410Expenses 2012: $139,805Net Income 2012: -$31,3952012Revenue 2013: $126,920Expenses 2013: $145,224Net Income 2013: -$18,3042013Revenue 2014: $112,698Expenses 2014: $153,228Net Income 2014: -$40,5302014Revenue 2015: $116,413Expenses 2015: $175,671Net Income 2015: -$59,2582015Revenue 2016: $102,184Expenses 2016: $177,954Net Income 2016: -$75,7702016Revenue 2017: $123,492Expenses 2017: $181,543Net Income 2017: -$58,0512017Revenue 2018: $184,370Expenses 2018: $169,812Net Income 2018: $14,5582018Revenue 2019: $124,206Expenses 2019: $170,565Net Income 2019: -$46,3592019Revenue 2020: $133,031Expenses 2020: $189,474Net Income 2020: -$56,4432020Revenue 2021: $198,325Expenses 2021: $186,462Net Income 2021: $11,8632021Revenue 2022: $131,505Expenses 2022: $227,201Net Income 2022: -$95,6962022Revenue 2023: $155,264Expenses 2023: $247,081Net Income 2023: -$91,8172023Revenue 2023: $155,264Expenses 2023: $247,081Net Income 2023: -$91,8172023

Highlighted filing

2023

Revenue$155,264
Expenses$247,081
Net Income-$91,817
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 1, 2024
Return Version
2023v5.0
Gross Receipts
$155,264
Mission and Program Overview

Mission

Develop and manage low income housing for persons age 55 and over

Develop and manage affordable housing for people aged 55 and over.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,223,137$1,133,959▼ $89,178
Savings and Temporary Cash Investments$137,721$158,005▲ $20,284
Cash and Non-Interest-Bearing Accounts$98,998$55,892▼ $43,106
Prepaid Expenses and Deferred Charges$7,045$5,889▼ $1,156
Accounts Receivable$-1,324$-2,610▼ $1,286
Total Assets$1,465,577$1,351,135▼ $114,442
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,586,834$1,564,974▼ $21,860
Other Liabilities$6,843$6,971▲ $128
Accounts Payable and Accrued Expenses$1,143$250▼ $893
Total Liabilities$1,594,820$1,572,195▼ $22,625
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-129,243$-221,060▼ $91,817
Total Net Assets Fund Balance$-129,243$-221,060▼ $91,817
Total Liabilities and Net Assets / Fund Balance$1,465,577$1,351,135▼ $114,442

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,133,959$1,144,486-
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Peggy MathewsPresident
Bob VaughanBoard Member
Emily DepewBoard Member
John BrennerBoard Member
Kathy BuckBoard Member
Mark AdamsBoard Member
Monica ApplebyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$153,417
Investment Income
$1,847
Other Revenue
$0
Change in Net Assets
$-91,817
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$247,081
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
Office Expenses$69,168--$69,168
All Other Expenses$49,002--$49,002
Fees for Services Other$37,738--$37,738
Interest$20,215--$20,215
Insurance$14,589--$14,589
Fees for Services Management$12,021--$12,021
Other Expenses$3,716--$3,716
Fees for Services Accounting$3,500--$3,500
Depreciation Depletion$12--$12
Total Functional Expenses$247,081$0$0$247,081
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$6,971
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No

Governance Explanations

Form 990, Part VI

“Section a, line 2 - officers and directors that live at elder spirit community at trailview will have a business relationship to elder community at trailview residents association and elder spirit coummity at trailview owners association becuase they live at the property and are members of the resident's and owner's association by virtue of living there.”

Form 990, Page 6, Part VI, Line 11B

“Reviewed by the treasurer and president of the board of directors and signed by the president.”

Form 990, Page 6, Part VI, Line 12C

“The secretary of the board makes sure that all conflict of interest forms are signed. The treasurer or president who signs the checks makes sure that there are no related party transactions made that are a conflict of interest.”

Form 990, Page 6, Part VI, Line 19

“The organization upon requrest will show to interested parties its governing documents, conflicts of interest policy and financial statements.”

Filing and Contact Details

Filer

Filer Name
Elder Spirit Development Co
EIN
54-1932560
Phone
2765254704
Address
125 ELDERSPIRIT COURT, ABINGDON, VA 24210

Signing Officer

Name
Peggy Mathews
Title
President
Phone
2765254704
Signed
2024-06-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peggy Mathews
Formed
1999
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Hbc Cpas
Address
PO BOX 821, ABINGDON, VA 24212
Preparer
Michael W Pennington CPA
Phone
2766281123
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Provide 16 apartments for low income housing in abingdon va revenue and expenses are reported in the rental schedule”

Form 990, Part IX, Line 11G

“Morgan trust 35,469 0 0 legal 2,269 0 0 total 37,738 0 0”

Form 990, Part IX, Line 24E

“Rental 2c-1 3,673 0 0 rental 2c-2 3,673 0 0 rental 2d-2 3,673 0 0 rental 1d-3 3,622 0 0 rental 1a-2 3,326 0 0 rental 1b-1 3,326 0 0 rental 1b-2 3,326 0 0 rental 2a-3 3,212 0 0 rental 2b-3 3,206 0 0 rental 1a-1 3,163 0 0 rental apt 4 3,008 0 0 rental apt 1 3,007 0 0 rental apt 2 3,007 0 0 rental apt 3 3,007 0 0 spirit center trailview 2,547 0 0 flooring replacement 226 0 0 total 49,002 0 0”

Form 990, Part XI, Line 9

“Owners/partner contribution 0”

Raw XML Appendix352 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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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0124206
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0742331
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01133959
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01144486
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt02278445
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06971
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01133959
IRS990ScheduleD/TotalLiabilityAmt06971
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDE 16 APARTMENTS FOR LOW INCOME HOUSING IN ABINGDON VA REVENUE AND EXPENSES ARE REPORTED IN THE RENTAL SCHEDULE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SECTION A, LINE 2 - OFFICERS AND DIRECTORS THAT LIVE AT ELDER SPIRIT COMMUNITY AT TRAILVIEW WILL HAVE A BUSINESS RELATIONSHIP TO ELDER COMMUNITY AT TRAILVIEW RESIDENTS ASSOCIATION AND ELDER SPIRIT COUMMITY AT TRAILVIEW OWNERS ASSOCIATION BECUASE THEY LIVE AT THE PROPERTY AND ARE MEMBERS OF THE RESIDENT'S AND OWNER'S ASSOCIATION BY VIRTUE OF LIVING THERE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED BY THE TREASURER AND PRESIDENT OF THE BOARD OF DIRECTORS AND SIGNED BY THE PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SECRETARY OF THE BOARD MAKES SURE THAT ALL CONFLICT OF INTEREST FORMS ARE SIGNED. THE TREASURER OR PRESIDENT WHO SIGNS THE CHECKS MAKES SURE THAT THERE ARE NO RELATED PARTY TRANSACTIONS MADE THAT ARE A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION UPON REQUREST WILL SHOW TO INTERESTED PARTIES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MORGAN TRUST 35,469 0 0 LEGAL 2,269 0 0 TOTAL 37,738 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6RENTAL 2C-1 3,673 0 0 RENTAL 2C-2 3,673 0 0 RENTAL 2D-2 3,673 0 0 RENTAL 1D-3 3,622 0 0 RENTAL 1A-2 3,326 0 0 RENTAL 1B-1 3,326 0 0 RENTAL 1B-2 3,326 0 0 RENTAL 2A-3 3,212 0 0 RENTAL 2B-3 3,206 0 0 RENTAL 1A-1 3,163 0 0 RENTAL APT 4 3,008 0 0 RENTAL APT 1 3,007 0 0 RENTAL APT 2 3,007 0 0 RENTAL APT 3 3,007 0 0 SPIRIT CENTER TRAILVIEW 2,547 0 0 FLOORING REPLACEMENT 226 0 0 TOTAL 49,002 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OWNERS/PARTNER CONTRIBUTION 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01465577
IRS990/TotalAssetsEOYAmt01351135
IRS990/TotalAssetsGrp/BOYAmt01465577
IRS990/TotalAssetsGrp/EOYAmt01351135
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0247081
IRS990/TotalFunctionalExpensesGrp/TotalAmt0247081
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01594820
IRS990/TotalLiabilitiesEOYAmt01572195
IRS990/TotalLiabilitiesGrp/BOYAmt01594820
IRS990/TotalLiabilitiesGrp/EOYAmt01572195
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-129243
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-221060
IRS990/TotalOtherProgSrvcExpenseAmt0104757
IRS990/TotalProgramServiceExpensesAmt0247081
IRS990/TotalProgramServiceRevenueAmt0153417
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0155264
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0155264
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01465577
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01351135
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0125 ELDERSPIRIT COURT
IRS990/USAddress/CityNm0ABINGDON
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd024210
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.ELDERSPIRIT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PEGGY MATHEWS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02765254704
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-06-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ELDER SPIRIT DEVELOPMENT CO
ReturnHeader/Filer/BusinessNameControlTxt0ELDE
ReturnHeader/Filer/EIN0541932560
ReturnHeader/Filer/PhoneNum02765254704
ReturnHeader/Filer/USAddress/AddressLine1Txt0125 ELDERSPIRIT COURT
ReturnHeader/Filer/USAddress/CityNm0ABINGDON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd024210
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061662488
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HBC CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 821
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ABINGDON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd024212
ReturnHeader/PreparerPersonGrp/PhoneNum02766281123
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL W PENNINGTON CPA
ReturnHeader/ReturnTs02024-06-03T14:27:21-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PEG
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MATHEWS
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,351,135
Liabilities
$1,572,195
Net assets
-$221,060
Revenue
$155,264
Expenses
$247,081
Net income
-$91,817
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.35$1.57$0.22$0.16$0.25$0.09
2023Summary only. Only limited summary data is available for this year.$1.35$1.57$0.22$0.16$0.25$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.47$1.59$0.13$0.13$0.23$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.58$1.61$0.03$0.20$0.19$0.01
2020Summary only. Only limited summary data is available for this year.$1.59$1.64$0.05$0.13$0.19$0.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.67$1.66$0.01$0.12$0.17$0.05
2018Summary only. Only limited summary data is available for this year.$1.73$1.67$0.06$0.18$0.17$0.01
2017Summary only. Only limited summary data is available for this year.$1.68$1.69$0.01$0.12$0.18$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.75$1.71$0.04$0.10$0.18$0.08
2015Summary only. Only limited summary data is available for this year.$1.84$1.73$0.12$0.12$0.18$0.06
2014Summary only. Only limited summary data is available for this year.$1.90$1.72$0.18$0.11$0.15$0.04
2013Summary only. Only limited summary data is available for this year.$1.93$1.71$0.22$0.13$0.15$0.02
2012Summary only. Only limited summary data is available for this year.$1.94$1.70$0.24$0.11$0.14$0.03
2011Summary only. Only limited summary data is available for this year.$1.97$1.70$0.27$0.10$0.14$0.04
2010Summary only. Only limited summary data is available for this year.$2.00$1.69$0.31$0.03$0.02$0.05