Civic Intelligence

Villa Madonna South Elderly Housing Corporation

990 • Fiscal year 2017 • EIN 61-1360816

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 28, 2018

PO Box 588Mayfield, KY 42066

(812) 876-5478

Siviq Scores

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

Liabilities / Assets

96th percentile

1.46x

Higher debt load relative to assets than 96% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

10.46x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

10th percentile

-27%

Higher net margin than 10% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

25th percentile

-4.3%

Faster asset growth than 25% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

25th percentile

-8.2%

Faster revenue growth than 25% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$511,120

Down $23,148 (-4.3%) from 2016

Net Assets

Down

-$232,583

Down $19,346 (-9.1%) from 2016

Liabilities

Down

$743,703

Down $3,802 (-0.5%) from 2016

Revenue

Down

$71,119

Down $6,340 (-8.2%) from 2016

Expenses

Down

$90,465

Down $8,305 (-8.4%) from 2016

Net Income

Up

-$19,346

Up $1,965 (+9.2%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2011: $574,004Liabilities 2011: $762,094Net Assets 2011: -$188,0902011Assets 2012: $629,071Liabilities 2012: $769,870Net Assets 2012: -$140,7992012Assets 2013: $603,620Liabilities 2013: $767,071Net Assets 2013: -$163,4512013Assets 2014: $580,378Liabilities 2014: $742,811Net Assets 2014: -$162,4332014Assets 2015: $549,703Liabilities 2015: $741,629Net Assets 2015: -$191,9262015Assets 2016: $534,268Liabilities 2016: $747,505Net Assets 2016: -$213,2372016Assets 2017: $511,120Liabilities 2017: $743,703Net Assets 2017: -$232,5832017Assets 2018: $503,575Liabilities 2018: $752,430Net Assets 2018: -$248,8552018Assets 2019: $474,596Liabilities 2019: $745,020Net Assets 2019: -$270,4242019Assets 2020: $462,047Liabilities 2020: $778,386Net Assets 2020: -$316,3392020Assets 2021: $441,629Liabilities 2021: $781,406Net Assets 2021: -$339,7772021Assets 2022: $410,809Liabilities 2022: $785,423Net Assets 2022: -$374,6142022Assets 2023: $389,104Liabilities 2023: $778,039Net Assets 2023: -$388,9352023Assets 2024: $403,260Liabilities 2024: $775,559Net Assets 2024: -$372,2992024

Highlighted filing

2017

Assets$511,120
Liabilities$743,703
Net Assets-$232,583

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2011: $52,529Expenses 2011: $73,440Net Income 2011: -$20,9112011Revenue 2012: $121,474Expenses 2012: $74,183Net Income 2012: $47,2912012Revenue 2013: $55,347Expenses 2013: $77,999Net Income 2013: -$22,6522013Revenue 2014: $87,578Expenses 2014: $86,559Net Income 2014: $1,0192014Revenue 2015: $62,537Expenses 2015: $92,030Net Income 2015: -$29,4932015Revenue 2016: $77,459Expenses 2016: $98,770Net Income 2016: -$21,3112016Revenue 2017: $71,119Expenses 2017: $90,465Net Income 2017: -$19,3462017Revenue 2018: $77,306Expenses 2018: $93,578Net Income 2018: -$16,2722018Revenue 2019: $85,320Expenses 2019: $106,889Net Income 2019: -$21,5692019Revenue 2020: $77,179Expenses 2020: $123,094Net Income 2020: -$45,9152020Revenue 2021: $78,807Expenses 2021: $102,245Net Income 2021: -$23,4382021Revenue 2022: $77,578Expenses 2022: $112,415Net Income 2022: -$34,8372022Revenue 2023: $90,919Expenses 2023: $105,240Net Income 2023: -$14,3212023Revenue 2024: $97,829Expenses 2024: $81,193Net Income 2024: $16,6362024

Highlighted filing

2017

Revenue$71,119
Expenses$90,465
Net Income-$19,346
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 28, 2018
Return Version
2017v2.2
Gross Receipts
$71,119
Mission and Program Overview

Mission

Provide low income housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$487,770$462,055▼ $25,715
Savings and Temporary Cash Investments$28,342$32,026▲ $3,684
Cash and Non-Interest-Bearing Accounts$8,454$9,743▲ $1,289
Accounts Receivable$6,067$3,751▼ $2,316
Intangible Assets$2,201$2,111▼ $90
Prepaid Expenses and Deferred Charges$1,434$1,434→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$534,268$511,120▼ $23,148
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$729,600$729,600→ $0
Accounts Payable and Accrued Expenses$14,839$10,945▼ $3,894
Other Liabilities$3,047$3,139▲ $92
Deferred Revenue$19$19→ $0
Total Liabilities$747,505$743,703▼ $3,802
Net Assets / Fund Balance
Unrestricted Net Assets$-213,237$-232,583▼ $19,346
Total Net Assets Fund Balance$-213,237$-232,583▼ $19,346
Total Liabilities and Net Assets / Fund Balance$534,268$511,120▼ $23,148

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$446,555$345,221$791,776
Land$15,500-$15,500
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joyce ToonChairman
Bill HigdonVice chairman
Leo ThomasDirector
Lois ElliottDirector
Rachel HigginsDirector
Vivian GoatleyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$32,235
Program Service Revenue
$38,810
Investment Income
$0
Other Revenue
$74
Change in Net Assets
$-19,346

Audited Revenue Reconciliation

Revenue per Audited Statements
$71,119
Total Revenue per Audited Statements
$71,119
Total Revenue per Form 990
$71,119
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,610
Salaries, Compensation, and Employee Benefits$4,855
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$32,791--$32,791
Depreciation Depletion$25,715--$25,715
Office Expenses$6,313$2,819-$9,132
Fees for Services Management-$8,054-$8,054
Insurance$6,163--$6,163
Fees for Services Accounting-$3,650-$3,650
Other Salaries and Wages$255$2,830-$3,085
Other Employee Benefits$1,303--$1,303
Payroll Taxes$467--$467
Interest$90--$90
Fees for Services Legal-$15-$15
Total Functional Expenses$73,097$17,368$0$90,465

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$90,465
Total Expenses per Audited Statements$90,465
Total Expenses per Form 990$90,465
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Deposits Held in Trust$3,139
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Management of the Project is provided by Hayes-Gibson International, Inc.

Form 990, Part VI, Line 11B: Form 990 Review Process

The tax return is reviewed and approved by the board of directors.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Villa South Iii
EIN
61-1360816
Phone
8128765478
Address
PO BOX 588, MAYFIELD, KY 42066

Signing Officer

Name
Joyce Toon
Title
President
Signed
2018-06-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Toon
Formed
2000
Legal Domicile
Ky
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
CNA Tax Professionals Inc
Address
8606 Allisonville Rd Ste 120, Indianapolis, IN 46250
Preparer
Shawn D Dreiman CPA
Phone
3178413393
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The entity adopted Accounting for Uncertainty in Income Taxes, the entity recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit will be recorded.

Raw XML AppendixShowing 400 of 407 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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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-19346
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt038884
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt028342
IRS990/SavingsAndTempCashInvstGrp/EOYAmt032026
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt032235
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt029643
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt022466
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt015194
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt016998
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0116536
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt020
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt044
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt064
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0199061
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt074
IRS990ScheduleA/OtherIncome170Grp/TotalAmt074
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99880
IRS990ScheduleA/PublicSupportPY170Pct00.99910
IRS990ScheduleA/PublicSupportTotal170Amt0116536
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt032235
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt029643
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt022466
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt015194
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt016998
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0116536
IRS990ScheduleA/TotalSupportAmt0116674
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0446555
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0345221
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0791776
IRS990ScheduleD/ExpensesSubtotalAmt090465
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt015500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt015500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03139
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS HELD IN TRUST
IRS990ScheduleD/RevenueSubtotalAmt071119
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The entity adopted Accounting for Uncertainty in Income Taxes, the entity recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit will be recorded.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0462055
IRS990ScheduleD/TotalExpensesPerForm990Amt090465
IRS990ScheduleD/TotalLiabilityAmt03139
IRS990ScheduleD/TotalRevenuePerForm990Amt071119
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt071119
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt090465
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Management of the Project is provided by Hayes-Gibson International, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TAX RETURN IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0534268
IRS990/TotalAssetsEOYAmt0511120
IRS990/TotalAssetsGrp/BOYAmt0534268
IRS990/TotalAssetsGrp/EOYAmt0511120
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt032235
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017368
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt073097
IRS990/TotalFunctionalExpensesGrp/TotalAmt090465
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0747505
IRS990/TotalLiabilitiesEOYAmt0743703
IRS990/TotalLiabilitiesGrp/BOYAmt0747505
IRS990/TotalLiabilitiesGrp/EOYAmt0743703
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-213237
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-232583
IRS990/TotalProgramServiceExpensesAmt073097
IRS990/TotalProgramServiceRevenueAmt038810
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt038884
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt071119
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0534268
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0511120
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-213237
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-232583
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 588
IRS990/USAddress/CityNm0MAYFIELD
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042066
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOYCE TOON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-06-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VILLA SOUTH III
ReturnHeader/Filer/BusinessNameControlTxt0VILL
ReturnHeader/Filer/EIN0611360816
ReturnHeader/Filer/PhoneNum08128765478
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 588
ReturnHeader/Filer/USAddress/CityNm0MAYFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042066
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0352102008
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CNA Tax Professionals Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08606 Allisonville Rd Ste 120
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Indianapolis
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046250

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.03$7.76$3.72$0.98$0.81$0.17
2023Detailed filing. Detailed filing data is available for this year.$3.89$7.78$3.89$0.91$1.05$0.14
2022Detailed filing. Detailed filing data is available for this year.$4.11$7.85$3.75$0.78$1.12$0.35
2021Detailed filing. Detailed filing data is available for this year.$4.42$7.81$3.40$0.79$1.02$0.23
2020Detailed filing. Detailed filing data is available for this year.$4.62$7.78$3.16$0.77$1.23$0.46
2019Detailed filing. Detailed filing data is available for this year.$4.75$7.45$2.70$0.85$1.07$0.22
2018Detailed filing. Detailed filing data is available for this year.$5.04$7.52$2.49$0.77$0.94$0.16
2017Detailed filing. Detailed filing data is available for this year.$5.11$7.44$2.33$0.71$0.90$0.19
2016Detailed filing. Detailed filing data is available for this year.$5.34$7.48$2.13$0.77$0.99$0.21
2015Detailed filing. Detailed filing data is available for this year.$5.50$7.42$1.92$0.63$0.92$0.29
2014Detailed filing. Detailed filing data is available for this year.$5.80$7.43$1.62$0.88$0.87$0.01
2013Summary only. Only limited summary data is available for this year.$6.04$7.67$1.63$0.55$0.78$0.23
2012Summary only. Only limited summary data is available for this year.$6.29$7.70$1.41$1.21$0.74$0.47
2011Summary only. Only limited summary data is available for this year.$5.74$7.62$1.88$0.53$0.73$0.21