Civic Intelligence

Dade County Voa Elderly Housing Inc

990 • Fiscal year 2017 • EIN 58-1700955

Jul 01, 2016 to Jun 30, 2017 • Filed on Sep 28, 2017

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

94th percentile

1.20x

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

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

Liabilities / Revenue

95th percentile

4.81x

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

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

Net Margin

36th percentile

-0.8%

Higher net margin than 36% 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 53.9% of source-year revenue.

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

Asset Growth

16th percentile

-6.6%

Faster asset growth than 16% of similar nonprofits.

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

Revenue Growth

43rd percentile

1.9%

Faster revenue growth than 43% of similar nonprofits.

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

Assets

Down

$3,992,038

Down $282,710 (-6.6%) from 2016

Net Assets

Down

-$810,889

Down $7,821 (-1.0%) from 2016

Liabilities

Down

$4,802,927

Down $274,889 (-5.4%) from 2016

Revenue

Up

$998,665

Up $18,740 (+1.9%) from 2016

Expenses

Up

$1,006,486

Up $31,220 (+3.2%) from 2016

Net Income

Down

-$7,821

Down $12,480 (-268%) 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 2012: $4,982,232Liabilities 2012: $5,644,164Net Assets 2012: -$661,9322012Assets 2013: $4,638,549Liabilities 2013: $5,349,737Net Assets 2013: -$711,1882013Assets 2015: $4,305,442Liabilities 2015: $5,113,169Net Assets 2015: -$807,7272015Assets 2016: $4,274,748Liabilities 2016: $5,077,816Net Assets 2016: -$803,0682016Assets 2017: $3,992,038Liabilities 2017: $4,802,927Net Assets 2017: -$810,8892017Assets 2018: $3,894,265Liabilities 2018: $4,735,016Net Assets 2018: -$840,7512018Assets 2019: $3,815,710Liabilities 2019: $4,656,575Net Assets 2019: -$840,8652019Assets 2021: $227,975Liabilities 2021: $0Net Assets 2021: $227,9752021Assets 2022: $18,118Liabilities 2022: $0Net Assets 2022: $18,1182022Assets 2023: $18,118Liabilities 2023: $0Net Assets 2023: $18,1182023Assets 2025: $0Liabilities 2025: $0Net Assets 2025: $02025

Highlighted filing

2017

Assets$3,992,038
Liabilities$4,802,927
Net Assets-$810,889

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2012: $917,2832012Expenses 2013: $979,6912013Revenue 2015: $965,970Expenses 2015: $1,031,417Net Income 2015: -$65,4472015Revenue 2016: $979,925Expenses 2016: $975,266Net Income 2016: $4,6592016Revenue 2017: $998,665Expenses 2017: $1,006,486Net Income 2017: -$7,8212017Revenue 2018: $1,015,781Expenses 2018: $1,045,643Net Income 2018: -$29,8622018Revenue 2019: $1,031,920Expenses 2019: $1,032,034Net Income 2019: -$1142019Revenue 2021: $13,074,991Expenses 2021: $1,089,683Net Income 2021: $11,985,3082021Revenue 2022: $579Expenses 2022: $780Net Income 2022: -$2012022Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023Revenue 2025: $0Expenses 2025: $0Net Income 2025: $02025

Highlighted filing

2017

Revenue$998,665
Expenses$1,006,486
Net Income-$7,821
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Sep 28, 2017
Return Version
2016v3.0
Gross Receipts
$998,665
Mission and Program Overview

Mission

Provides housing for the elderly and disabled persons and families under section 202 of the national housing act under an agreement with the department of hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,516,799$3,377,284▼ $139,515
Intangible Assets$134,677--
Prepaid Expenses and Deferred Charges$62,891$62,542▼ $349
Cash and Non-Interest-Bearing Accounts$70,621$33,152▼ $37,469
Accounts Receivable$161--
Total Assets$4,274,748$3,992,038▼ $282,710
Other Assets Total$489,599$519,060▲ $29,461
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,938,604$4,720,869▼ $217,735
Accounts Payable and Accrued Expenses$114,164$54,373▼ $59,791
Other Liabilities$24,998$27,651▲ $2,653
Deferred Revenue$50$34▼ $16
Total Liabilities$5,077,816$4,802,927▼ $274,889
Net Assets / Fund Balance
Unrestricted Net Assets$-803,068$-810,889▼ $7,821
Total Net Assets Fund Balance$-803,068$-810,889▼ $7,821
Total Liabilities and Net Assets / Fund Balance$4,274,748$3,992,038▼ $282,710

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,441,446$3,145,091$5,586,537
Land$790,680-$790,680
Other Land Buildings$109,018$188,364$297,382
Equipment$36,140$97,176$133,316
Other Assets Org$1,844--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Thomas D TurnbullAsst. Sec/tr$430,765$430,765
Joseph a BudzynskiAsst. Sec/tr$295,181$295,181
Nancy GavinAsst. Sec/tr$212,905$212,905
Deborah PerryAsst. Sec/tr$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
Patrick SheridanAsst. Sec.
Robin KellerAsst. Sec.
Deborah PerryAsst. Sec/treas
Nancy GavinAsst. Sec/treas
Thomas D TurnbullAsst. Sec/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 INCMgmt, Pr, Acct,1205 E 8TH AVENUE, Tampa, FL 33605$275,646
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$998,422
Investment Income
$243
Other Revenue
$0
Change in Net Assets
$-7,821

Audited Revenue Reconciliation

Revenue per Audited Statements
$998,665
Total Revenue per Audited Statements
$998,665
Total Revenue per Form 990
$998,665
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$853,458
Salaries, Compensation, and Employee Benefits$153,028
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$362,038--$362,038
Depreciation Depletion$197,422--$197,422
Other Salaries and Wages$114,928--$114,928
Fees for Services Management-$67,381-$67,381
Other Employee Benefits$29,123--$29,123
Office Expenses$23,420--$23,420
Fees for Services Accounting-$19,404-$19,404
Other Expenses$10,303--$10,303
Payroll Taxes$8,977--$8,977
Conferences and Meetings$4,772--$4,772
Advertising$2,610--$2,610
Insurance$1,582--$1,582
All Other Expenses$1,581--$1,581
Total Functional Expenses$919,701$86,785$0$1,006,486

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,006,486
Total Expenses per Audited Statements$1,006,486
Total Expenses per Form 990$1,006,486
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$24,087
Deferred Cable Revenue$3,564
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 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 approve or appoint directors and volunteers of america, inc. Has, in turn, transferred this authority to 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
Dade County Voa Elderly Housing Inc
EIN
58-1700955
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Joseph a Budzynski
Title
Asst. Sec/treas, CFO
Phone
7033415000
Signed
2017-09-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph a Budzynski
Formed
1985
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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Peer Organizations

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