Civic Intelligence

Vacaville Community Housing

990 • Fiscal year 2014 • EIN 68-0220688

Jul 01, 2013 to Jun 30, 2014 • Filed on Dec 02, 2014

PO Box 5744Sacramento, CA 95696

(707) 469-6246

Siviq Scores

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

Liabilities / Assets

97th percentile

1.40x

Higher debt load relative to assets than 97% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

96th percentile

8.63x

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

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

13th percentile

-13%

Higher net margin than 13% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

15th percentile

$69,920

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

20th percentile

-3.3%

Faster asset growth than 20% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

18th percentile

-9.4%

Faster revenue growth than 18% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

$22,337,168

No earlier filing loaded for comparison.

Net Assets

-$8,850,184

No earlier filing loaded for comparison.

Liabilities

$31,187,352

No earlier filing loaded for comparison.

Revenue

$3,614,856

No earlier filing loaded for comparison.

Expenses

$4,069,422

No earlier filing loaded for comparison.

Net Income

-$454,566

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.

$40M$20M$0-$20MAssets 2014: $22,337,168Liabilities 2014: $31,187,352Net Assets 2014: -$8,850,1842014Assets 2015: $21,974,593Liabilities 2015: $30,948,647Net Assets 2015: -$8,974,0542015Assets 2016: $21,842,419Liabilities 2016: $30,640,063Net Assets 2016: -$8,797,6442016Assets 2017: $21,330,214Liabilities 2017: $29,981,476Net Assets 2017: -$8,651,2622017Assets 2018: $16,298,070Liabilities 2018: $21,168,357Net Assets 2018: -$4,870,2872018Assets 2019: $50,010Liabilities 2019: $0Net Assets 2019: $50,0102019Assets 2020: $50,010Net Assets 2020: $50,0102020Assets 2021: $0Net Assets 2021: $02021

Highlighted filing

2014

Assets$22,337,168
Liabilities$31,187,352
Net Assets-$8,850,184

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2014: $3,614,856Expenses 2014: $4,069,422Net Income 2014: -$454,5662014Revenue 2015: $3,760,496Expenses 2015: $3,884,461Net Income 2015: -$123,9652015Revenue 2016: $3,766,872Expenses 2016: $3,590,462Net Income 2016: $176,4102016Revenue 2017: $3,857,502Expenses 2017: $3,711,120Net Income 2017: $146,3822017Revenue 2018: $8,969,270Expenses 2018: $5,188,295Net Income 2018: $3,780,9752018Revenue 2019: $6,685,851Expenses 2019: $1,735,118Net Income 2019: $4,950,7332019Revenue 2020: $02020Revenue 2021: $50,000Expenses 2021: $100,010Net Income 2021: -$50,0102021

Highlighted filing

2014

Revenue$3,614,856
Expenses$4,069,422
Net Income-$454,566
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Dec 2, 2014
Return Version
2013v3.1
Gross Receipts
$3,614,856
Mission and Program Overview

Mission

To provide affordable housing to families with very-low, low and moderate incomes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,842,893$19,099,148▼ $743,745
Intangible Assets$426,427$392,498▼ $33,929
Cash and Non-Interest-Bearing Accounts$328,503$347,301▲ $18,798
Accounts Receivable$97,623$74,131▼ $23,492
Prepaid Expenses and Deferred Charges$3,796$2,269▼ $1,527
Savings and Temporary Cash Investments-$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$23,089,782$22,337,168▼ $752,614
Other Assets Total$2,390,540$2,421,821▲ $31,281
Liabilities
Mortgage Notes Payable Secured by Investment Property$30,097,572$29,715,616▼ $381,956
Other Liabilities$1,260,922$1,375,752▲ $114,830
Accounts Payable and Accrued Expenses$126,906$95,984▼ $30,922
Total Liabilities$31,485,400$31,187,352▼ $298,048
Net Assets / Fund Balance
Unrestricted Net Assets$-8,395,618$-8,850,184▼ $454,566
Total Net Assets Fund Balance$-8,395,618$-8,850,184▼ $454,566
Total Liabilities and Net Assets / Fund Balance$23,089,782$22,337,168▼ $752,614

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,537,323$7,013,707$18,551,030
Leasehold Improvements$3,327,026$6,576,252$9,903,278
Land$4,224,846-$4,224,846
Equipment$9,953$26,641$36,594
Other Assets Org$217,740--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Charles LearnedExecutive DirecFT$69,920$69,920

Board Members and Trustees

NameTitle
Casandra PattonPresident
Ernest KimmeVice President
Martin PehlDirector
Pastor Milton SteckDirector
Samer QirrehDirector
Ed ForrestSecretary
Elizabeth FrangosTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
AWI Management CorporationProperty Management-$172,495
Korifi Construction IncUnit rehabilitation-$120,123
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,566,171
Investment Income
$48,685
Other Revenue
$0
Change in Net Assets
$-454,566

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,614,856
Total Revenue per Audited Statements
$3,614,856
Total Revenue per Form 990
$3,614,856
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,999,502
Salaries, Compensation, and Employee Benefits$69,920
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$887,226--$887,226
Interest$561,307--$561,307
Other Expenses$226,001--$226,001
All Other Expenses$190,751$22,638-$213,389
Fees for Services Management$172,495--$172,495
Insurance$157,619$2,500-$160,119
Current Officers, Directors, Trustees, and Key Employees$51,929$17,991-$69,920
Fees for Services Other$48,071--$48,071
Office Expenses$34,474$5,000-$39,474
Fees for Services Legal-$27,791-$27,791
Fees for Services Accounting-$25,000-$25,000
Travel$1,419--$1,419
Conferences and Meetings$1,393--$1,393
Advertising$404--$404
Total Functional Expenses$3,968,502$100,920$0$4,069,422

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,069,422
Total Expenses per Audited Statements$4,069,422
Total Expenses per Form 990$4,069,422
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
Accrued interest$1,166,636
Security Deposit$209,116

Bond Issues

BondIssuerIssuedIssue PricePurpose
B94-60004472000-07-19$9,310,000Low-income housing
A94-60004472005-11-10$3,860,000Low-income housing

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$9,310,000---
A$3,860,000--$250,710

Bond Financing Compliance

Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
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
Yes
Conflict-of-interest policy
Yes
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

The daily management and operation of the properties is contracted to a property management company which specializes in the management of low-income properties. These services were performed by AWI Management Corporation, located in Auburn, California.

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

A PDF copy of Form 990 is provided to the board prior to filing with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Board members are required to annually disclose any conflicts of interest.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board of directors reviews compensation from comparable organizations which is documented in the minutes.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The board of directors reviews compensation from comparable organizations which is documented in the minutes.

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

Governing documents, policies and procedures, and financial statements are provided upon request.

Filing and Contact Details

Filer

EIN
68-0220688
Phone
7074696246

Signing Officer

Name
Charles Learned
Title
Executive Director
Signed
2014-12-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Learned
Formed
1989
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
7
Employees
0
Volunteers
10

Preparer

Preparer
Richard E Watson Jr
Phone
9166060552
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IRS990/OfficeExpensesGrp/TotalAmt039474
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/BOYAmt02390540
IRS990/OtherAssetsTotalGrp/EOYAmt02421821
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Maintenance and repair
IRS990/OtherExpensesGrp/Desc1Utilities
IRS990/OtherExpensesGrp/Desc2Reimb mgmt. co. wages
IRS990/OtherExpensesGrp/Desc3Trash removal
IRS990/OtherExpensesGrp/ProgramServicesAmt0771732
IRS990/OtherExpensesGrp/ProgramServicesAmt1436741
IRS990/OtherExpensesGrp/ProgramServicesAmt2426940
IRS990/OtherExpensesGrp/ProgramServicesAmt3226001
IRS990/OtherExpensesGrp/TotalAmt0771732
IRS990/OtherExpensesGrp/TotalAmt1436741
IRS990/OtherExpensesGrp/TotalAmt2426940
IRS990/OtherExpensesGrp/TotalAmt3226001
IRS990/OtherLiabilitiesGrp/BOYAmt01260922
IRS990/OtherLiabilitiesGrp/EOYAmt01375752
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03796
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02269
IRS990/PrincipalOfficerNm0Charles Learned
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/BusinessCd3531110
IRS990/ProgramServiceRevenueGrp/Desc0Developer fee
IRS990/ProgramServiceRevenueGrp/Desc1Low Income Rents
IRS990/ProgramServiceRevenueGrp/Desc2Partnership management
IRS990/ProgramServiceRevenueGrp/Desc3Resident service fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt010000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13429152
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt214250
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3112769
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt010000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13429152
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt214250
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3112769
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-35762
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt03889757
IRS990/PYProgramServiceRevenueAmt04027456
IRS990/PYRevenuesLessExpensesAmt033917
IRS990/PYSalariesCompEmpBnftPaidAmt068020
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-454566
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IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RevenueAmt03614856
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt056978
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt015710
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt048685
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt048601
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt03566171
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt04027456
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03580841
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt048685
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0-35762
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt048601
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IRS990ScheduleA/InvestmentIncomeCYPct00.00770
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.99230
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/TotalAmt017640021
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt03614856
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt03330056
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt017777219
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt011537323
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07013707
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt018551030
IRS990ScheduleD/EquipmentGrp/BookValueAmt09953
IRS990ScheduleD/EquipmentGrp/DepreciationAmt026641
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt036594
IRS990ScheduleD/ExpensesSubtotalAmt04069422
IRS990ScheduleD/LandGrp/BookValueAmt04224846
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04224846
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03327026
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt06576252
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt09903278
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0188283
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt166771
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21949027
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3217740

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