Civic Intelligence

Clearwater Voa Elderly Housing Inc Clear Bay Terrace

990 • Fiscal year 2017 • EIN 58-1429221

Jul 01, 2016 to Jun 30, 2017 • Filed on Sep 26, 2017

Refreshing map…

1660 Duke StreetAlexandria, VA 22314

(703) 341-5000

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.04x

Higher debt load relative to assets than 92% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

94th percentile

4.03x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

48th percentile

2.5%

Higher net margin than 48% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

98th percentile

$538,642

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 43.2% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

45th percentile

1.7%

Faster asset growth than 45% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

44th percentile

2.2%

Faster revenue growth than 44% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$4,842,589

Up $79,741 (+1.7%) from 2016

Net Assets

Up

-$179,327

Up $31,179 (+15%) from 2016

Liabilities

Up

$5,021,916

Up $48,562 (+1.0%) from 2016

Revenue

Up

$1,246,755

Up $26,465 (+2.2%) from 2016

Expenses

Up

$1,215,576

Up $138,645 (+13%) from 2016

Net Income

Down

$31,179

Down $112,180 (-78%) from 2016

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$0-$2.0MAssets 2011: $5,361,091Liabilities 2011: $5,930,820Net Assets 2011: -$569,7292011Assets 2012: $4,890,856Liabilities 2012: $5,328,278Net Assets 2012: -$437,4222012Assets 2013: $4,819,244Liabilities 2013: $5,227,514Net Assets 2013: -$408,2702013Assets 2014: $4,759,966Liabilities 2014: $5,133,739Net Assets 2014: -$373,7732014Assets 2015: $4,518,927Liabilities 2015: $5,099,783Net Assets 2015: -$580,8562015Assets 2016: $4,762,848Liabilities 2016: $4,973,354Net Assets 2016: -$210,5062016Assets 2017: $4,842,589Liabilities 2017: $5,021,916Net Assets 2017: -$179,3272017Assets 2018: $4,597,802Liabilities 2018: $4,782,585Net Assets 2018: -$184,7832018Assets 2019: $4,504,175Liabilities 2019: $4,603,738Net Assets 2019: -$99,5632019Assets 2020: $4,434,119Liabilities 2020: $4,485,878Net Assets 2020: -$51,7592020Assets 2021: $4,381,811Liabilities 2021: $4,437,298Net Assets 2021: -$55,4872021Assets 2022: $4,174,853Liabilities 2022: $4,395,214Net Assets 2022: -$220,3612022Assets 2023: $46,990Liabilities 2023: $0Net Assets 2023: $46,9902023Assets 2024: $474,014Liabilities 2024: $498,299Net Assets 2024: -$24,2852024Assets 2025: $0Liabilities 2025: $24,446Net Assets 2025: -$24,4462025

Highlighted filing

2017

Assets$4,842,589
Liabilities$5,021,916
Net Assets-$179,327

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $1,043,5792011Revenue 2012: $1,192,731Expenses 2012: $1,062,929Net Income 2012: $129,8022012Revenue 2013: $1,208,097Expenses 2013: $1,178,945Net Income 2013: $29,1522013Revenue 2014: $1,097,652Expenses 2014: $1,063,155Net Income 2014: $34,4972014Revenue 2015: $1,066,065Expenses 2015: $1,273,148Net Income 2015: -$207,0832015Revenue 2016: $1,220,290Expenses 2016: $1,076,931Net Income 2016: $143,3592016Revenue 2017: $1,246,755Expenses 2017: $1,215,576Net Income 2017: $31,1792017Revenue 2018: $1,265,293Expenses 2018: $1,270,749Net Income 2018: -$5,4562018Revenue 2019: $1,300,516Expenses 2019: $1,215,296Net Income 2019: $85,2202019Revenue 2020: $1,307,177Expenses 2020: $1,262,524Net Income 2020: $44,6532020Revenue 2021: $1,342,278Expenses 2021: $1,346,006Net Income 2021: -$3,7282021Revenue 2022: $1,287,881Expenses 2022: $1,452,755Net Income 2022: -$164,8742022Revenue 2023: $10,727,881Expenses 2023: $750Net Income 2023: $10,727,1312023Revenue 2024: $37Expenses 2024: $185Net Income 2024: -$1482024Revenue 2025: $4Expenses 2025: $165Net Income 2025: -$1612025

Highlighted filing

2017

Revenue$1,246,755
Expenses$1,215,576
Net Income$31,179
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Sep 26, 2017
Return Version
2016v3.0
Gross Receipts
$1,246,755
Mission and Program Overview

Mission

Provides housing to elderly and disabled persons and families under section 207/223(f) of the national housing act under an agreement with the department of hud

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,395,169$3,551,199▲ $156,030
Cash and Non-Interest-Bearing Accounts$51,758$409,400▲ $357,642
Accounts Receivable$360,614--
Intangible Assets$135,953--
Prepaid Expenses and Deferred Charges$66,772$66,191▼ $581
Total Assets$4,762,848$4,842,589▲ $79,741
Other Assets Total$752,582$815,799▲ $63,217
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,864,575$4,646,537▼ $218,038
Accounts Payable and Accrued Expenses$70,644$325,561▲ $254,917
Other Liabilities$38,129$49,184▲ $11,055
Deferred Revenue$6$634▲ $628
Total Liabilities$4,973,354$5,021,916▲ $48,562
Net Assets / Fund Balance
Unrestricted Net Assets$-210,506$-179,327▲ $31,179
Total Net Assets Fund Balance$-210,506$-179,327▲ $31,179
Total Liabilities and Net Assets / Fund Balance$4,762,848$4,842,589▲ $79,741

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,040,747$4,303,337$7,344,084
Other Land Buildings$105,453$233,802$339,255
Land$294,450-$294,450
Equipment$110,549$33,711$144,260
Other Assets Org$2,800--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Thomas D TurnbullAsst. Sec/as$430,765$430,765
Joseph a BudzynskiAsst. Sec/tr$295,181$295,181
Nancy GavinAsst Sec/ as$212,905$212,905
Deborah PerryAsst. Sec/as$187,200$187,200

Board Members and Trustees

NameTitle
Jane BurksBoard Chair
Michael W KingPresident
C David KikumotoVice Chairma
Andy EdeburnDirector
James LeblancDirector
Karen DaleDirector
Keith KnappDirector
Michael SullivanDirector
Nancy RaseDirector
Patti ArnoldDirector
Stephen WakefieldDirector
Wilfred N Cooper SrDirector
Nancy GavinAsst Sec/ Asst Treas
Patrick SheridanAsst. Sec
Robin KellerAsst. Sec
Deborah PerryAsst. Sec/asst Treas
Thomas D TurnbullAsst. Sec/asst Treas
Joseph a BudzynskiAsst. Sec/treas, CFO
Robert D GibsonKey Employee
Wayne C OlsonKey Employee
Edwina CarringtonSecretary
Carol MooreTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Volunteers Of America Of Florida InMgmt, P/r, Acct1205 E 8TH AVE, Tampa, FL 33605$375,787
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,246,369
Investment Income
$386
Other Revenue
$0
Change in Net Assets
$31,179

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,246,755
Total Revenue per Audited Statements
$1,246,755
Total Revenue per Form 990
$1,246,755
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$996,297
Salaries, Compensation, and Employee Benefits$219,279
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$390,589--$390,589
Depreciation Depletion$246,877--$246,877
Other Salaries and Wages$171,349--$171,349
Fees for Services Management-$88,943-$88,943
Other Employee Benefits$34,369--$34,369
Office Expenses$23,521--$23,521
Fees for Services Accounting-$19,532-$19,532
Payroll Taxes$13,561--$13,561
Other Expenses$13,255--$13,255
Insurance$2,388--$2,388
Conferences and Meetings$2,098--$2,098
Advertising$1,109--$1,109
All Other Expenses$454--$454
Total Functional Expenses$1,107,101$108,475$0$1,215,576

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,215,576
Total Expenses per Audited Statements$1,215,576
Total Expenses per Form 990$1,215,576
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$37,207
Residual Receipts in Excess$11,977
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 1A

The organizations governing body delegated broad authority to an executive committee. The executive committee is composed of the following five officers of the organization: chair, president, vice chair, secretary, and treasurer. There are no executive committee members who are not on the governing body. The executive committee has the authority of the governing body in the management of the business of the organization.

Form 990, Page 6, Part VI, Line 2

Michael king president dir and/or officer of voa sharon wilson geno director dir and/or officer of voa thomas turnbull asst. Sec./a dir and/or officer of voa patrick sheridan assistant se dir and/or officer of voa joseph budzynski asst. Sec./a dir and/or officer of voa nancy gavin asst. Sec./a dir and/or officer of voa deborah perry asst. Sec./a dir and/or officer of voa robin keller assistant se dir and/or officer of voa

Form 990, Page 6, Part VI, Line 3

The organization has no employees, and has delegated control over certain property management duties to volunteers of america florida, inc. Pursuant to a property management agreement. Volunteers of america national services, as the parent and sponsoring corporation, assists in providing to its subordinate corporations general and administrative supervision, financial management, quality assurance, regulatory compliance, real estate development and strategic planning.

Form 990, Page 6, Part VI, Line 7A

Volunteers of america, inc. Has the right to appoint or approve directors and volunteers of america, inc. Has, in turn, transferred this authority t o volunteers of america national services.

Form 990, Page 6, Part VI, Line 7B

The articles of incorporation and bylaws of the corporation may not be amended without the prior written approval of the secretary of the u.s. Department of housing and urban development. Directors may be removed with or without cause at the request of the u.s. Department of housing and urban development. The bylaws may not be amended without the prior written consent of volunteers of america, inc.

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

The final form 990 is reviewed by asset management and an officer of the board of directors prior to filing with the irs. All members of the organizations board of directors and all officers of the board are also provided an opportunity to review the form 990 in electronic form immediately prior to filing.

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

The policy requires officers, directors and key employees to disclose annually interests that could give rise to conflicts. The policy and disclosure form are distributed and collected annually, and individuals are required to update the disclosure form throughout the year in the event actual or potential conflicts arise. Conflicts of interest are reviewed by the board of directors. Persons with a conflict are prohibited from participating in the governing body's deliberations and decisions in the transaction.

Form 990, Page 6, Part VI, Line 19

Available at the address below: 1660 duke street alexandria, va 22314

Filing and Contact Details

Filer

Filer Name
Clearwater Voa Elderly Housing Inc
EIN
58-1429221
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Joseph a Budzynski
Title
Asst. Sec/treas, CFO
Phone
7033415000
Signed
2017-09-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph a Budzynski
Formed
1980
Legal Domicile
Fl
Voting Board Members
14
Independent Board Members
12
Employees
0

Preparer

Firm
Maddox & Associates Apc
Address
5627 BANKERS AVE BLDG 2, BATON ROUGE, LA 70808-2610
Preparer
William B Beale
Phone
2259263360
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IRS990/Form990PartVIISectionAGrp/PersonNm8MICHAEL SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm9EDWINA CARRINGTON
IRS990/Form990PartVIISectionAGrp/PersonNm10KAREN DALE
IRS990/Form990PartVIISectionAGrp/PersonNm11STEPHEN WAKEFIELD
IRS990/Form990PartVIISectionAGrp/PersonNm12JANE BURKS
IRS990/Form990PartVIISectionAGrp/PersonNm13JAMES LEBLANC
IRS990/Form990PartVIISectionAGrp/PersonNm14THOMAS D TURNBULL
IRS990/Form990PartVIISectionAGrp/PersonNm15JOSEPH A BUDZYNSKI
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IRS990/Form990PartVIISectionAGrp/PersonNm17NANCY GAVIN
IRS990/Form990PartVIISectionAGrp/PersonNm18ROBIN KELLER
IRS990/Form990PartVIISectionAGrp/PersonNm19DEBORAH PERRY
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IRS990/Form990PartVIISectionAGrp/PersonNm21ROBERT D GIBSON
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14ASST. SEC/AS
IRS990/Form990PartVIISectionAGrp/TitleTxt15ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt16ASST. SEC
IRS990/Form990PartVIISectionAGrp/TitleTxt17ASST SEC/ AS
IRS990/Form990PartVIISectionAGrp/TitleTxt18ASST. SEC
IRS990/Form990PartVIISectionAGrp/TitleTxt19ASST. SEC/AS
IRS990/Form990PartVIISectionAGrp/TitleTxt20KEY EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21KEY EMPLOYEE
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0PROVIDES HOUSING TO ELDERLY AND DISABLED PERSONS AND FAMILIES UNDER SECTION 207/223(F) OF THE NATIONAL HOUSING ACT UNDER AN AGREEMENT WITH THE DEPARTMENT OF HUD
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01096993
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01207606
IRS990ScheduleA/Total509Grp/TotalAmt05836700

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.02$0.02$0.00$0.00$0.00
2024Summary only. Only limited summary data is available for this year.$0.47$0.50$0.02$0.00$0.00$0.00
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$10.7$0.00$10.7
2022Summary only. Only limited summary data is available for this year.$4.17$4.40$0.22$1.29$1.45$0.16
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.38$4.44$0.06$1.34$1.35$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.43$4.49$0.05$1.31$1.26$0.04
2019Summary only. Only limited summary data is available for this year.$4.50$4.60$0.10$1.30$1.22$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.60$4.78$0.18$1.27$1.27$0.01
2017Detailed filing. Detailed filing data is available for this year.$4.84$5.02$0.18$1.25$1.22$0.03
2016Summary only. Only limited summary data is available for this year.$4.76$4.97$0.21$1.22$1.08$0.14
2015Summary only. Only limited summary data is available for this year.$4.52$5.10$0.58$1.07$1.27$0.21
2014Detailed filing. Detailed filing data is available for this year.$4.76$5.13$0.37$1.10$1.06$0.03
2013Summary only. Only limited summary data is available for this year.$4.82$5.23$0.41$1.21$1.18$0.03
2012Summary only. Only limited summary data is available for this year.$4.89$5.33$0.44$1.19$1.06$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.36$5.93$0.57$1.04
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $1M-$5M nonprofits