Civic Intelligence

Avery Properties Inc.

990 • Fiscal year 2011 • EIN 58-2328397

Jul 01, 2010 to Jun 30, 2011 • Filed on Apr 25, 2012

Organization Profilewww.agnesscott.edu
141 East College Avenue30030
Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$4,156,197

Flat from 2011

Net Assets

Flat

-$83,747

Flat from 2011

Liabilities

Flat

$4,239,944

Flat from 2011

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$0

Flat from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2010: $4,391,593Liabilities 2010: $4,908,814Net Assets 2010: -$517,2212010Assets 2011: $4,156,197Liabilities 2011: $4,239,944Net Assets 2011: -$83,7472011Assets 2011: $4,156,197Liabilities 2011: $4,239,944Net Assets 2011: -$83,7472011Assets 2012: $3,917,192Liabilities 2012: $3,526,163Net Assets 2012: $391,0292012Assets 2013: $3,587,020Liabilities 2013: $2,740,409Net Assets 2013: $846,6112013Assets 2014: $3,263,396Liabilities 2014: $1,957,261Net Assets 2014: $1,306,1352014Assets 2015: $2,963,580Liabilities 2015: $1,199,691Net Assets 2015: $1,763,8892015Assets 2016: $2,660,694Liabilities 2016: $436,853Net Assets 2016: $2,223,8412016Assets 2017: $2,392,798Liabilities 2017: $146,610Net Assets 2017: $2,246,1882017Assets 2018: $2,718,733Liabilities 2018: $78,927Net Assets 2018: $2,639,8062018Assets 2019: $2,206,211Liabilities 2019: $79,354Net Assets 2019: $2,126,8572019Assets 2020: $2,318,111Liabilities 2020: $209,591Net Assets 2020: $2,108,5202020Assets 2021: $1,775,692Liabilities 2021: $225,253Net Assets 2021: $1,550,4392021Assets 2022: $29,198,763Liabilities 2022: $1,385Net Assets 2022: $29,197,3782022Assets 2023: $22,844,993Liabilities 2023: $1,385Net Assets 2023: $22,843,6082023Assets 2024: $18,090,659Liabilities 2024: $1,785Net Assets 2024: $18,088,8742024

Highlighted filing

2011

Assets$4,156,197
Liabilities$4,239,944
Net Assets-$83,747
Open 2011 Filing

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $02010Expenses 2011: $02011Revenue 2011: $433,474Expenses 2011: $0Net Income 2011: $433,4742011Expenses 2012: $02012Expenses 2013: $02013Revenue 2014: $459,524Expenses 2014: $0Net Income 2014: $459,5242014Revenue 2015: $457,754Expenses 2015: $0Net Income 2015: $457,7542015Revenue 2016: $459,954Expenses 2016: $0Net Income 2016: $459,9542016Revenue 2017: $429,093Expenses 2017: $406,746Net Income 2017: $22,3472017Revenue 2018: $1,189,675Expenses 2018: $796,057Net Income 2018: $393,6182018Revenue 2019: $1,214,907Expenses 2019: $1,727,856Net Income 2019: -$512,9492019Revenue 2020: $1,074,666Expenses 2020: $1,093,003Net Income 2020: -$18,3372020Revenue 2021: $518,125Expenses 2021: $1,076,206Net Income 2021: -$558,0812021Revenue 2022: $28,468,179Expenses 2022: $821,240Net Income 2022: $27,646,9392022Revenue 2023: $870,944Expenses 2023: $7,224,714Net Income 2023: -$6,353,7702023Revenue 2024: $1,991,833Expenses 2024: $6,746,567Net Income 2024: -$4,754,7342024

Highlighted filing

2011

Revenue-
Expenses$0
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2010 to Jun 30, 2011
Signed
Apr 25, 2012
Return Version
2010v3.4
Gross Receipts
$1,307,625
Mission and Program Overview

Mission

Charitable organization to support the furtherance of Agnes Scott College's educational purposes.

Filing and Contact Details

Filer

EIN
58-2328397
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0AVERY PROPERTIES REPORTS THE SECURITY DEPOSITS HELD FOR AVERY GLEN APARTMENTS LEASED BY CURRENT TENANTS AS AN ESCROW ACCOUNT LIABILITY ON THE BALANCE SHEET.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1THE COLLEGE IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), EXCEPT FOR TAXES ON INCOME FROM ACTIVITIES UNRELATED TO ITS EXEMPT PURPOSE. THE COLLEGE EVALUATES ITS UNCERTAIN TAX POSITIONS USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740 INCOME TAXES. THE COLLEGE FOLLOWS THE CRITERION THAT AN INDIVIDUAL TAX POSITION HAS TO MEET FOR SOME OR ALL OF THE BENEFITS OF THAT POSITION TO BE RECOGNIZED IN THE COLLEGE'S FINANCIAL STATEMENTS. THE COLLEGE DETERMINED THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE TAX POSITION FOLLOWING AN AUDIT. THE COLLEGE HAS APPLIED THIS CRITERION TO ALL TAX POSITIONS FOR WHICH THE STATUTE OF LIMITATIONS REMAINS OPEN. TAX YEARS OPEN TO EXAMINATION BY TAX AUTHORITIES UNDER THE STATUTE OF LIMITATIONS INCLUDE FISCAL 2008 THROUGH 2011. THE COLLEGE HAS A POLICY TO RECORD INTEREST AND PENALTIES (IF ANY) RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE COLLEGE HAS DETERMINED THAT ITS TAX POSITIONS SATISFY THE MORE LIKELY THAN NOT CRITERION AND THAT NO PROVISION FOR INCOME TAXES IS REQUIRED AT JUNE 30, 2011. FOR THE YEARS ENDED JUNE 30, 2011 AND 2010 NO INTEREST AND PENALTIES WERE RECORDED.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
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IRS990ScheduleD/OtherLiabilities/Description0INTERCOMPANY LOAN - AGNES SCOTT COLLEGE
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IRS990ScheduleO/GeneralExplanation/Explanation0AVERY PROPERTIES, INC. HIRES RENTAL MANAGEMENT COMPANY TO HANDLE THE DAILY OPERATIONS AND ADMINISTRATIVE TASKS ASSOCIATED WITH THE APARTMENT COMPLEX. THE MANAGEMENT COMPANY PROVIDES AN IN-DEPTH SUMMARY OF OPERATIONAL AND FINANCIAL DATA TO AGNES SCOTT COLLEGE'S OFFICE OF BUSINESS AND FINANCE FOR REVIEW ON A MONTHLY BASIS.
IRS990ScheduleO/GeneralExplanation/Explanation1THE VICE PRESIDENT OF BUSINESS & FINANCE OF AGNES SCOTT COLLEGE PERFORMS A DETAILED REVIEW OF AVERY PROPERTIES' FORM 990 BEFORE FILING THE RETURN. THE CHAIRMAN OF THE COLLEGE'S BOARD OF TRUSTEES, THE CHAIRMAN OF THE COLLEGE'S FINANCE COMMITTEE (STANDING COMMITTEE OF THE BOARD) AND THE PRESIDENT OF THE COLLEGE WILL RECEIVE A COPY OF THIS RETURN FOR REVIEW BEFORE FILING. THE BOARD OF TRUSTEES OF AVERY PROPERTIES WILL RECEIVE A COPY OF THIS FORM 990 PRIOR TO THE FORM'S FILING.
IRS990ScheduleO/GeneralExplanation/Explanation2THE COMPENSATION OF THE PRESIDENT OF THE COLLEGE IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES. FOR THIS REVIEW, THE BOARD USES COMPARABLE COMPENSATION INFORMATION. THIS DOCUMENTATION IS RECORDED AS PART OF THE MINUTES OF THE BOARD OF TRUSTEES.
IRS990ScheduleO/GeneralExplanation/Explanation3AVERY PROPERTIES, INC.'S OPERATIONS ARE A PART OF THE AUDITED FINANCIAL STATEMENTS OF ITS SUPPORTED ORGANIZATION, AGNES SCOTT COLLEGE. THE COLLEGE'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND APPROVAL OF AN OFFICER OF THE COLLEGE. AVERY PROPERTIES, INC.'S GOVERNING DOCUMENTS ARE NOT AVAILABLE FOR PUBLIC INSPECTION.
IRS990ScheduleO/GeneralExplanation/Explanation4THE FINANCE COMMITTEE HAS RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/GeneralExplanation/Explanation5DURING THE CURRENT TAX YEAR, THE TOTAL INTERCOMPANY ASSET RELATED TO PRIOR YEAR FUNDS TRANSFERRED TO AGNES SCOTT COLLEGE (LINE 15) WAS NETTED AGAINST THE OUTSTANDING INTERCOMPANY LIABILITY FROM AGNES SCOTT (LINE 25) WHICH WAS INCURRED TO PURCHASE THE RESIDENTIAL REAL ESTATE TO REDUCE THE OUTSTANDING DEBT.
IRS990ScheduleO/GeneralExplanation/Identifier0FORM 990, PART VI, SECTION A, LINE 3
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IRS990ScheduleR/Form990ScheduleRPartII/NameOfDisregardedEntity/BusinessNameLine11BALLYKEEL INC
IRS990ScheduleR/Form990ScheduleRPartII/PrimaryActivities0COLLEGE
IRS990ScheduleR/Form990ScheduleRPartII/PrimaryActivities1HOLDING CORP.
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IRS990ScheduleR/Form990ScheduleRPartVII/Explanation0THE LOAN REPORTED OUTSTANDING BETWEEN AVERY PROPERTIES AND AGNES SCOTT COLLEGE WAS INCURRED SEVERAL YEARS AGO AND IS RELATED TO THE PURCHASE OF THE RESIDENTIAL REAL ESTATE THAT IS HELD FOR THE BENEFIT OF THE STUDENTS OF AGNES SCOTT COLLEGE BY AVERY PROPERTIES.
IRS990ScheduleR/Form990ScheduleRPartVII/Identifier0TRANSACTIONS WITH RELATED PARTIES
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IRS990/StateLegalDomicile0GA
IRS990/StatesWhereCopyOfReturnIsFiled0GA
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine10141 EAST COLLEGE AVENUE
IRS990/TheBooksAreInCareOf/AddressUS/City0DECATUR
IRS990/TheBooksAreInCareOf/AddressUS/State0GA
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode030030
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10LAI CHAN CONTROLLER
IRS990/TheBooksAreInCareOf/TelephoneNumber04044716308
IRS990/TotalAssets/BOY04391593
IRS990/TotalAssetsBOY04391593
IRS990/TotalAssets/EOY04156197
IRS990/TotalAssetsEOY04156197
IRS990/TotalCompGT150K01
IRS990/TotalExpensesCurrentYear00
IRS990/TotalExpensesPriorYear00
IRS990/TotalFunctionalExpenses/Fundraising00
IRS990/TotalFunctionalExpenses/ManagementAndGeneral00
IRS990/TotalFunctionalExpenses/ProgramServices00
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IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI00
IRS990/TotalLiabilities/BOY04908814
IRS990/TotalLiabilitiesBOY04908814
IRS990/TotalLiabilities/EOY04239944
IRS990/TotalLiabilitiesEOY04239944
IRS990/TotalLiabNetAssetsFundBalances/BOY04391593
IRS990/TotalLiabNetAssetsFundBalances/EOY04156197
IRS990/TotalNbrEmployees00
IRS990/TotalNbrVolunteers00
IRS990/TotalNetAssetsFundBalances/BOY0-517221
IRS990/TotalNetAssetsFundBalances/EOY0-83747
IRS990/TotalOtherCompensation085816
IRS990/TotalProfFundrsngExpCY00
IRS990/TotalProfFundrsngExpPriorYear00
IRS990/TotalProgramServiceExpense0488480
IRS990/TotalReportableCompFrmRltdOrgs0496256
IRS990/TotalReportableCompFromOrg00
IRS990/TotalRevenueCurrentYear0433474
IRS990/TotalRevenue/ExclusionAmount0433474
IRS990/TotalRevenuePriorYear0479021
IRS990/TotalRevenue/RelatedOrExemptFunctionIncome00
IRS990/TotalRevenue/TotalRevenueColumn0433474
IRS990/TotalRevenue/UnrelatedBusinessRevenue00
IRS990/TransactionRelatedEntity00
IRS990/TransfersToExemptNonChrtblOrg00
IRS990/TypeOfOrganizationCorporation0X
IRS990/UnrelatedBusinessIncome00
IRS990/UnrestrictedNetAssets/BOY0-517221
IRS990/UnrestrictedNetAssets/EOY0-83747
IRS990/UponRequest0X
IRS990/WebSite0WWW.AGNESSCOTT.EDU
IRS990/WhistleblowerPolicy00
IRS990/YearFormation01997
ReturnHeader/BuildTS02016-02-24 21:20:13Z
ReturnHeader/Filer/EIN0582328397
ReturnHeader/Filer/Name/BusinessNameLine10AVERY PROPERTIES INC
ReturnHeader/Filer/NameControl0AVER
ReturnHeader/Filer/Phone04044716308
ReturnHeader/Filer/USAddress/AddressLine10141 EAST COLLEGE AVENUE
ReturnHeader/Filer/USAddress/City0DECATUR
ReturnHeader/Filer/USAddress/State0GA
ReturnHeader/Filer/USAddress/ZIPCode030030
ReturnHeader/Officer/AuthorizeThirdParty01
ReturnHeader/Officer/DateSigned02012-04-25
ReturnHeader/Officer/Name0JOHN P HEGMAN
ReturnHeader/Officer/Phone04044716308

Document Assets

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Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$4,156,197
Liabilities
$4,239,944
Net assets
-$83,747
Revenue
-
Expenses
$0
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.1$0.00$18.1$1.99$6.75$4.75
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.8$0.00$22.8$0.87$7.22$6.35
2022Detailed filing. Detailed filing data is available for this year.$29.2$0.00$29.2$28.5$0.82$27.6
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.78$0.23$1.55$0.52$1.08$0.56
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.32$0.21$2.11$1.07$1.09$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.21$0.08$2.13$1.21$1.73$0.51
2018Detailed filing. Detailed filing data is available for this year.$2.72$0.08$2.64$1.19$0.80$0.39
2017Detailed filing. Detailed filing data is available for this year.$2.39$0.15$2.25$0.43$0.41$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.66$0.44$2.22$0.46$0.00$0.46
2015Detailed filing. Detailed filing data is available for this year.$2.96$1.20$1.76$0.46$0.00$0.46
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.26$1.96$1.31$0.46$0.00$0.46
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.59$2.74$0.85$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.92$3.53$0.39$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.16$4.24$0.08$0.00
2011Summary only. Only limited summary data is available for this year.$4.16$4.24$0.08$0.43$0.00$0.43
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.39$4.91$0.52$0.00