Civic Intelligence

Ave Maria Home Inc

990 • Fiscal year 2018 • EIN 62-0561701

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 13, 2018

2805 Charles Bryan RoadMemphis, TN 38134

(901) 386-3211

Siviq Scores

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

Liabilities / Assets

84th percentile

0.75x

Higher debt load relative to assets than 84% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

82nd percentile

1.23x

Higher debt load relative to revenue than 82% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

21st percentile

-5.2%

Higher net margin than 21% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

31st percentile

$126,237

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

90th percentile

29%

Faster asset growth than 90% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

3.5%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Up

$24,520,162

Up $5,485,985 (+29%) from 2017

Net Assets

Down

$6,189,893

Down $650,592 (-9.5%) from 2017

Liabilities

Up

$18,330,269

Up $6,136,577 (+50%) from 2017

Revenue

Up

$14,959,229

Up $500,956 (+3.5%) from 2017

Expenses

Up

$15,731,441

Up $1,023,124 (+7.0%) from 2017

Net Income

Down

-$772,212

Down $522,168 (-209%) from 2017

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $14,594,672Liabilities 2010: $6,409,988Net Assets 2010: $8,184,6842010Assets 2011: $18,723,175Liabilities 2011: $10,255,137Net Assets 2011: $8,468,0382011Assets 2012: $17,967,367Liabilities 2012: $10,310,569Net Assets 2012: $7,656,7982012Assets 2013: $17,258,803Liabilities 2013: $9,695,333Net Assets 2013: $7,563,4702013Assets 2014: $17,612,582Liabilities 2014: $10,109,996Net Assets 2014: $7,502,5862014Assets 2015: $17,097,082Liabilities 2015: $9,779,521Net Assets 2015: $7,317,5612015Assets 2016: $16,570,836Liabilities 2016: $9,619,274Net Assets 2016: $6,951,5622016Assets 2017: $19,034,177Liabilities 2017: $12,193,692Net Assets 2017: $6,840,4852017Assets 2018: $24,520,162Liabilities 2018: $18,330,269Net Assets 2018: $6,189,8932018Assets 2019: $24,929,534Liabilities 2019: $19,669,850Net Assets 2019: $5,259,6842019Assets 2020: $25,994,575Liabilities 2020: $21,492,883Net Assets 2020: $4,501,6922020Assets 2021: $24,665,366Liabilities 2021: $19,760,937Net Assets 2021: $4,904,4292021Assets 2022: $23,341,566Liabilities 2022: $18,642,901Net Assets 2022: $4,698,6652022Assets 2023: $26,454,013Liabilities 2023: $20,654,612Net Assets 2023: $5,799,4012023Assets 2024: $24,726,219Liabilities 2024: $21,378,097Net Assets 2024: $3,348,1222024

Highlighted filing

2018

Assets$24,520,162
Liabilities$18,330,269
Net Assets$6,189,893

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $9,833,2212010Expenses 2011: $10,426,9312011Expenses 2012: $12,230,0622012Expenses 2013: $12,735,2892013Revenue 2014: $12,975,183Expenses 2014: $13,281,789Net Income 2014: -$306,6062014Revenue 2015: $13,155,258Expenses 2015: $13,197,823Net Income 2015: -$42,5652015Revenue 2016: $13,351,084Expenses 2016: $13,624,403Net Income 2016: -$273,3192016Revenue 2017: $14,458,273Expenses 2017: $14,708,317Net Income 2017: -$250,0442017Revenue 2018: $14,959,229Expenses 2018: $15,731,441Net Income 2018: -$772,2122018Revenue 2019: $16,438,693Expenses 2019: $17,196,686Net Income 2019: -$757,9932019Revenue 2020: $16,469,435Expenses 2020: $17,084,320Net Income 2020: -$614,8852020Revenue 2021: $18,165,699Expenses 2021: $17,822,812Net Income 2021: $342,8872021Revenue 2022: $20,284,173Expenses 2022: $20,621,863Net Income 2022: -$337,6902022Revenue 2023: $23,110,975Expenses 2023: $22,035,451Net Income 2023: $1,075,5242023Revenue 2024: $17,857,923Expenses 2024: $20,309,202Net Income 2024: -$2,451,2792024

Highlighted filing

2018

Revenue$14,959,229
Expenses$15,731,441
Net Income-$772,212
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 13, 2018
Return Version
2017v2.3
Gross Receipts
$14,959,229
Mission and Program Overview

Mission

To assist the aged, sick, and destitute through: improving the moral, social, and spiritual conditions of its beneficiaries; continuing the stewardship of human, physical, and financial resources in conjunction with the catholic community; facilitating visitation by family, friends, and members of the community; and providing a commitment to long-term and rehabilitative care.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,249,617$12,875,295▼ $374,322
Accounts Receivable$1,033,266$770,471▼ $262,795
Cash and Non-Interest-Bearing Accounts$297,249$483,818▲ $186,569
Prepaid Expenses and Deferred Charges$141,763$188,571▲ $46,808
Intangible Assets$12,948--
Total Assets$19,034,177$24,520,162▲ $5,485,985
Other Assets Total$4,299,334$10,202,007▲ $5,902,673
Liabilities
Tax Exempt Bond Liabilities$7,717,040$12,516,890▲ $4,799,850
Other Liabilities$3,505,160$4,142,937▲ $637,777
Accounts Payable and Accrued Expenses$616,492$1,490,442▲ $873,950
Unsecured Notes Loans Payable$355,000$180,000▼ $175,000
Total Liabilities$12,193,692$18,330,269▲ $6,136,577
Net Assets / Fund Balance
Unrestricted Net Assets$6,840,485$6,189,893▼ $650,592
Total Net Assets Fund Balance$6,840,485$6,189,893▼ $650,592
Total Liabilities and Net Assets / Fund Balance$19,034,177$24,520,162▲ $5,485,985

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,423,359$7,104,056$18,527,415
Equipment$523,329$2,139,261$2,662,590
Land$928,607-$928,607
Other Assets Org$9,841--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Frank J Gattuso JrCEOFT$126,237$126,237

Board Members and Trustees

NameTitle
Martha PodestaPresident
Ann WilsonDirector
David DahlerDirector
Fannie SheltonDirector
Ford CanaleDirector
Joe MontesiDirector
Libby BuringDirector
Michael RobilioDirector
Mike EdelmuthDirector
Mrs Kay JohnsonDirector
Ms Stacy JohnsonDirector
Skeet HaagDirector
Mary WebbSecretary
John L SchifaniTreasurer
Anna VescovoVice Preside
Mrs Donna L GrimmWings Presid
Revenue and Support

Revenue Composition

Contributions and Grants
$110,601
Program Service Revenue
$14,848,628
Investment Income
$0
Other Revenue
$0
All Other Contributions
$10,601
Change in Net Assets
$-772,212

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,959,229
Revenue Not Reported on Form 990
$121,620
Total Revenue per Audited Statements
$15,080,849
Total Revenue per Form 990
$14,959,229
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,920,253
Other Expenses$4,811,188
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,861,981$645,567-$9,507,548
Fees for Services Other$1,061,953--$1,061,953
Payroll Taxes$698,708$60,256-$758,964
Occupancy$649,691--$649,691
All Other Expenses$373,149$259,911-$633,060
Depreciation Depletion$558,213--$558,213
Other Employee Benefits$465,234$62,270-$527,504
Insurance-$389,539-$389,539
Interest$220,748--$220,748
Other Expenses$186,929$172,179-$172,179
Current Officers, Directors, Trustees, and Key Employees-$126,237-$126,237
Office Expenses$28,464$97,614-$126,078
Fees for Services Management-$76,783-$76,783
Advertising$34,608$40,648-$75,256
Conferences and Meetings$43,584--$43,584
Total Functional Expenses$13,781,299$1,950,142$0$15,731,441

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$15,731,441
Total Expenses per Audited Statements$15,731,441
Total Expenses per Form 990$15,731,441
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
Due to Foundation$4,293,113
Assisted Living Deposit Liability$34,000
Unamortized Discount of Debt Issuanc$-184,176

Bond Issues

BondIssuerIssuedIssue PricePurpose
BShelby County Tennessee2016-06-23$7,120,500The proceeds from the sale of the series 2016b bonds will finance the
AShelby County Tennessee2016-06-23$7,115,500The bonds refinanced the prior revenue refunding and improvement bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$7,120,500---
A$6,879,500-$6,879,500-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

After the form 990 is prepared, the board members responsible for tax filings review the return for accuracy and completeness. If the return is satisfactory, it is signed and filed by the board treasurer.

Form 990, Page 6, Part VI, Line 15A

The governing board reviews the compensation of the executive director annually.

Form 990, Page 6, Part VI, Line 19

Governing documents are available to the public upon written request to the board of directors and their approval.

Filing and Contact Details

Filer

Filer Name
Ave Maria Home Inc
EIN
62-0561701
Phone
9013863211
Address
2805 CHARLES BRYAN ROAD, MEMPHIS, TN 38134

Signing Officer

Name
John L Schifani
Title
Treasurer
Phone
9013863211
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank J Gattuso Jr
Formed
1955
Legal Domicile
Tn
Voting Board Members
16
Independent Board Members
16
Employees
487
Volunteers
125

Preparer

Firm
Scott & Pohlman Pc
Address
5100 POPLAR AVENUE SUITE 617, MEMPHIS, TN 38137-0601
Preparer
Sandy J Friedman
Phone
9017614692
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To assist the aged, sick, and destitute through: improving the moral, social, and spiritual conditions of its beneficiaries; continuing the stewardship of human, physical, and financial resources in conjunction with the catholic community; facilitating visitation by family, friends, and members of the community; and providing a commitment to long-term and rehabilitative care.

Form 990

Schedule k, part ii - the issuer issued its 6,879,500 revenue refunding bonds dated june 23, 2016 to refinance prior bonds originally issued in the amount of 9,400,000.

Form 990, Page 2, Part III, Line 4D

Adult day care - operation of a social model to povide structured socialization for the frail and elderly. Alzheimers/dementia care - program is designed to promote familiar schedules and surroundings while providing personal assistance with daily activities. St clare health & rehab is a skilled nursing rehabilitation center. The center is licensed for 48 beds, either for short or long-term care, and provides physical, occupational and speech therapy as well as social, religious, beauty shop, recreational, dental and hospice services.

Form 990, Part XI, Line 9

Change in value of swap agreement 121,620

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Change in fair value of swap agreement 121,620

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.7$21.4$3.35$17.9$20.3$2.45
2023Summary only. Only limited summary data is available for this year.$26.5$20.7$5.80$23.1$22.0$1.08
2022Detailed filing. Detailed filing data is available for this year.$23.3$18.6$4.70$20.3$20.6$0.34
2021Detailed filing. Detailed filing data is available for this year.$24.7$19.8$4.90$18.2$17.8$0.34
2020Detailed filing. Detailed filing data is available for this year.$26.0$21.5$4.50$16.5$17.1$0.61
2019Detailed filing. Detailed filing data is available for this year.$24.9$19.7$5.26$16.4$17.2$0.76
2018Detailed filing. Detailed filing data is available for this year.$24.5$18.3$6.19$15.0$15.7$0.77
2017Detailed filing. Detailed filing data is available for this year.$19.0$12.2$6.84$14.5$14.7$0.25
2016Detailed filing. Detailed filing data is available for this year.$16.6$9.62$6.95$13.4$13.6$0.27
2015Detailed filing. Detailed filing data is available for this year.$17.1$9.78$7.32$13.2$13.2$0.04
2014Detailed filing. Detailed filing data is available for this year.$17.6$10.1$7.50$13.0$13.3$0.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.3$9.70$7.56$12.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.0$10.3$7.66$12.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.7$10.3$8.47$10.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.6$6.41$8.18$9.83
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $10M-$25M nonprofits