Civic Intelligence

Riverside Voa Elderly Housing Inc Las Palmas Plaza I

990 • Fiscal year 2015 • EIN 58-1835841

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 08, 2015

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

95th percentile

1.37x

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

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

Liabilities / Revenue

93rd percentile

3.60x

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

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

Net Margin

45th percentile

1.2%

Higher net margin than 45% of similar nonprofits.

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

Top Officer Pay

98th percentile

$492,384

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 50.7% of source-year revenue.

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

Asset Growth

30th percentile

-3.3%

Faster asset growth than 30% of similar nonprofits.

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

Revenue Growth

45th percentile

1.4%

Faster revenue growth than 45% of similar nonprofits.

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

Assets

Down

$2,558,236

Down $86,807 (-3.3%) from 2014

Net Assets

Up

-$943,970

Up $11,892 (+1.2%) from 2014

Liabilities

Down

$3,502,206

Down $98,699 (-2.7%) from 2014

Revenue

Up

$972,006

Up $13,782 (+1.4%) from 2014

Expenses

Down

$960,114

Down $6,928 (-0.7%) from 2014

Net Income

Up

$11,892

Up $20,710 (+235%) from 2014

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2012: $2,836,523Liabilities 2012: $3,761,139Net Assets 2012: -$924,6162012Assets 2013: $2,739,300Liabilities 2013: $3,686,344Net Assets 2013: -$947,0442013Assets 2014: $2,645,043Liabilities 2014: $3,600,905Net Assets 2014: -$955,8622014Assets 2015: $2,558,236Liabilities 2015: $3,502,206Net Assets 2015: -$943,9702015Assets 2016: $2,479,127Liabilities 2016: $3,388,488Net Assets 2016: -$909,3612016Assets 2017: $6,441,088Liabilities 2017: $0Net Assets 2017: $6,441,0882017Assets 2018: $6,626,651Liabilities 2018: $0Net Assets 2018: $6,626,6512018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2015

Assets$2,558,236
Liabilities$3,502,206
Net Assets-$943,970

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $970,4832012Revenue 2013: $944,314Expenses 2013: $966,742Net Income 2013: -$22,4282013Revenue 2014: $958,224Expenses 2014: $967,042Net Income 2014: -$8,8182014Revenue 2015: $972,006Expenses 2015: $960,114Net Income 2015: $11,8922015Revenue 2016: $986,226Expenses 2016: $951,617Net Income 2016: $34,6092016Revenue 2017: $7,815,474Expenses 2017: $465,025Net Income 2017: $7,350,4492017Revenue 2018: $186,413Expenses 2018: $850Net Income 2018: $185,5632018Revenue 2019: $95,611Expenses 2019: $0Net Income 2019: $95,6112019

Highlighted filing

2015

Revenue$972,006
Expenses$960,114
Net Income$11,892
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 8, 2015
Return Version
2014v5.0
Gross Receipts
$972,006
Mission and Program Overview

Mission

Provides housing to 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$2,335,861$2,255,905▼ $79,956
Prepaid Expenses and Deferred Charges$57,393$55,775▼ $1,618
Cash and Non-Interest-Bearing Accounts$30,639$4,875▼ $25,764
Total Assets$2,645,043$2,558,236▼ $86,807
Other Assets Total$221,150$241,681▲ $20,531
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,506,042$3,410,890▼ $95,152
Accounts Payable and Accrued Expenses$73,831$69,182▼ $4,649
Other Liabilities$21,015$22,134▲ $1,119
Deferred Revenue$17--
Total Liabilities$3,600,905$3,502,206▼ $98,699
Net Assets / Fund Balance
Unrestricted Net Assets$-955,862$-943,970▲ $11,892
Total Net Assets Fund Balance$-955,862$-943,970▲ $11,892
Total Liabilities and Net Assets / Fund Balance$2,645,043$2,558,236▼ $86,807

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,509,503$2,410,406$3,919,909
Land$702,000-$702,000
Other Land Buildings$33,403$176,107$209,510
Equipment$10,999$49,644$60,643
Other Assets Org$5,205--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Michael W KingPresident/di$492,384$492,384
Thomas D TurnbullAsst. Sec/tr$368,778$368,778
David T BowmanAsst. Sec/tr$293,414$293,414
Joseph a BudzynskiAsst Sec/tre$254,007$254,007
Juanita CohenAsst. Sec/as$221,211$221,211
Nancy GavinAsst. Sec/tr$220,591$220,591
Deborah PerryAsst. Sec/tr$188,945$188,945

Board Members and Trustees

NameTitle
C David KikumotoChair/direct
Michael W KingPresident/direc
Shawn B BloomVice Chair/d
Ann SchnareDirector
John MorlandDirector
Karen DaleDirector
Michael SullivanDirector
Stephen WakefieldDirector
Wilfred N Cooper SrDirector
Joseph a BudzynskiAsst Sec/treas
Patrick SheridanAsst. Sec.
Robin KellerAsst. Sec.
Juanita CohenAsst. Sec/asst Treas
David T BowmanAsst. Sec/treas
Deborah PerryAsst. Sec/treas
Nancy GavinAsst. Sec/treas
Thomas D TurnbullAsst. Sec/treas
Robert GibsonKey Employee
Wayne OlsonKey Employee
Carol MooreSecretary/di
Nancy J FeldmanTreasurer/di

Highest Paid Contractors

ContractorServicesLocationCompensation
Volunteers Of America Of Flordia IMgt,payroll,acc1205 E 8TH AVENUE, Tampa, FL 33605$321,038
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$970,374
Investment Income
$1,632
Other Revenue
$0
Change in Net Assets
$11,892

Audited Revenue Reconciliation

Revenue per Audited Statements
$972,006
Total Revenue per Audited Statements
$972,006
Total Revenue per Form 990
$972,006
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$771,910
Salaries, Compensation, and Employee Benefits$188,204
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$409,385--$409,385
Other Salaries and Wages$149,918--$149,918
Depreciation Depletion$117,590--$117,590
Fees for Services Management-$69,358-$69,358
Office Expenses$27,424--$27,424
Other Employee Benefits$24,749--$24,749
Fees for Services Accounting-$18,189-$18,189
Payroll Taxes$13,537--$13,537
Conferences and Meetings$3,957--$3,957
Other Expenses$2,905--$2,905
Advertising$2,772--$2,772
Insurance$2,213--$2,213
Total Functional Expenses$872,567$87,547$0$960,114

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$960,114
Total Expenses per Audited Statements$960,114
Total Expenses per Form 990$960,114
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$22,134
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 david bowman asst. Sec./a 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 voa 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 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
Riverside Voa Elderly Housing Inc
EIN
58-1835841
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Thomas D Turnbull
Title
Asst. Sec/treas
Phone
7033415000
Signed
2015-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Same as C Above
Formed
1989
Legal Domicile
Fl
Voting Board Members
11
Independent Board Members
9
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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