Civic Intelligence

Villa Madonna South Elderly Housing Corporation

990 • Fiscal year 2018 • EIN 61-1360816

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 08, 2019

Organization ProfileNA
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

1.49x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

98th percentile

9.73x

Higher debt load relative to revenue than 98% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

13th percentile

-21%

Higher net margin than 13% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

39th percentile

-1.5%

Faster asset growth than 39% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

59th percentile

8.7%

Faster revenue growth than 59% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$503,575

Down $7,545 (-1.5%) from 2017

Net Assets

Down

-$248,855

Down $16,272 (-7.0%) from 2017

Liabilities

Up

$752,430

Up $8,727 (+1.2%) from 2017

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin13th percentile

Revenue

Up

$77,306

Up $6,187 (+8.7%) from 2017

Expenses

Up

$93,578

Up $3,113 (+3.4%) from 2017

Net Income

Up

-$16,272

Up $3,074 (+16%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

2018

Assets$503,575
Liabilities$752,430
Net Assets-$248,855
Open 2018 Filing

Operations Trend

Revenue Growth59th percentile

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

2018

Revenue$77,306
Expenses$93,578
Net Income-$16,272
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 8, 2019
Return Version
2018v3.1
Gross Receipts
$77,306
Mission and Program Overview

Mission

Provide low income housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$462,055$437,221▼ $24,834
Savings and Temporary Cash Investments$32,026$32,875▲ $849
Cash and Non-Interest-Bearing Accounts$9,743$30,901▲ $21,158
Intangible Assets$2,111$2,021▼ $90
Prepaid Expenses and Deferred Charges$1,434$0▼ $1,434
Accounts Receivable$3,751$557▼ $3,194
Total Assets$511,120$503,575▼ $7,545
Liabilities
Mortgage Notes Payable Secured by Investment Property$729,600$729,600→ $0
Accounts Payable and Accrued Expenses$10,945$19,691▲ $8,746
Other Liabilities$3,139$3,139→ $0
Deferred Revenue$19--
Total Liabilities$743,703$752,430▲ $8,727
Net Assets / Fund Balance
Unrestricted Net Assets$-232,583$-248,855▼ $16,272
Total Net Assets Fund Balance$-232,583$-248,855▼ $16,272
Total Liabilities and Net Assets / Fund Balance$511,120$503,575▼ $7,545

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$421,721$370,055$791,776
Land$15,500-$15,500
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Joyce ToonPresident
Bill HigdonVice President
Betty Jean ReddenDirector
Joseph EllegoodDirector
Lois ElliottDirector
Vivian GoatleyDirector
Rachel HigginsSecetary/ Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$37,337
Program Service Revenue
$39,716
Investment Income
$3
Other Revenue
$250
Change in Net Assets
$-16,272

Audited Revenue Reconciliation

Revenue per Audited Statements
$77,306
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$77,306
Total Revenue per Form 990
$77,306
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$92,837
Salaries, Compensation, and Employee Benefits$741
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$47,231--$47,231
Depreciation Depletion$24,834--$24,834
Fees for Services Management-$7,373-$7,373
Office Expenses$4,812$1,298-$6,110
Fees for Services Accounting-$3,650-$3,650
Insurance$3,549--$3,549
Other Salaries and Wages-$665-$665
Interest$90--$90
Payroll Taxes$76--$76
Total Functional Expenses$80,592$12,986$0$93,578

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$93,578
Total Expenses per Audited Statements$93,578
Total Expenses per Form 990$93,578
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Deposits Held in Trust$3,139
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Line 3 explanation - management of the project is provided by hayes-gibson international, inc.”

Form 990, Part VI, Section B, Line 11B

“Line 11b explanation - the tax return is reviewed and approved by the board of directors.”

Form 990, Part VI, Section C, Line 19

“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
Doing Business As
Villa Madonna Iii Apartments Inc

Signing Officer

Name
Joyce Toon
Title
President
Phone
8128765478
Signed
2019-07-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Toon
Formed
2000
Legal Domicile
Ky
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
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, LINE 2:

“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 Appendix375 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.

Path#Value
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt015500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt015500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03139
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS HELD IN TRUST
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt077306
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, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0437221
IRS990ScheduleD/TotalExpensesPerForm990Amt093578
IRS990ScheduleD/TotalLiabilityAmt03139
IRS990ScheduleD/TotalRevenuePerForm990Amt077306
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt077306
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt093578
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 3 EXPLANATION - MANAGEMENT OF THE PROJECT IS PROVIDED BY HAYES-GIBSON INTERNATIONAL, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LINE 11B EXPLANATION - THE TAX RETURN IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0511120
IRS990/TotalAssetsEOYAmt0503575
IRS990/TotalAssetsGrp/BOYAmt0511120
IRS990/TotalAssetsGrp/EOYAmt0503575
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt037337
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012986
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt080592
IRS990/TotalFunctionalExpensesGrp/TotalAmt093578
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0743703
IRS990/TotalLiabilitiesEOYAmt0752430
IRS990/TotalLiabilitiesGrp/BOYAmt0743703
IRS990/TotalLiabilitiesGrp/EOYAmt0752430
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-232583
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-248855
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt080592
IRS990/TotalProgramServiceRevenueAmt039716
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0253
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt039716
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt077306
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0511120
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0503575
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-232583
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-248855
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 588
IRS990/USAddress/CityNm0MAYFIELD
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042066
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0NA
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOYCE TOON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08128765478
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-07-08
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/FilingSecurityInformation/AtSubmissionCreationDeviceId040404695BA1382DBF6CFF4F53CBDC00D8996B33B
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId040404695BA1382DBF6CFF4F53CBDC00D8996B33B
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt023.25.48.193
ReturnHeader/FilingSecurityInformation/IPDt02019-07-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm015:30:05
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
ReturnHeader/PreparerPersonGrp/PhoneNum03178413393
ReturnHeader/PreparerPersonGrp/PreparationDt02019-07-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHAWN D DREIMAN CPA
ReturnHeader/ReturnTs02019-07-10T14:58:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$503,575
Liabilities
$752,430
Net assets
-$248,855
Revenue
$77,306
Expenses
$93,578
Net income
-$16,272
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