Civic Intelligence

New Bern Voa Elderly Housing Inc the Meadows

990 • Fiscal year 2016 • EIN 72-1317429

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 13, 2016

Refreshing map…

1660 Duke StreetAlexandria, VA 22314

(703) 341-5000

Siviq Scores

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

Liabilities / Assets

99th percentile

2.42x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

10.71x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

9th percentile

-40%

Higher net margin than 9% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

98th percentile

$508,612

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 174.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

14th percentile

-8.6%

Faster asset growth than 14% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

5.5%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,289,035

Down $120,899 (-8.6%) from 2015

Net Assets

Down

-$1,828,818

Down $117,105 (-6.8%) from 2015

Liabilities

Down

$3,117,853

Down $3,794 (-0.1%) from 2015

Revenue

Up

$291,070

Up $15,099 (+5.5%) from 2015

Expenses

Up

$408,175

Up $59,221 (+17%) from 2015

Net Income

Down

-$117,105

Down $44,122 (-60%) from 2015

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $1,717,227Liabilities 2011: $3,113,914Net Assets 2011: -$1,396,6872011Assets 2012: $1,652,247Liabilities 2012: $3,102,777Net Assets 2012: -$1,450,5302012Assets 2013: $1,577,656Liabilities 2013: $3,108,867Net Assets 2013: -$1,531,2112013Assets 2014: $1,474,426Liabilities 2014: $3,113,156Net Assets 2014: -$1,638,7302014Assets 2015: $1,409,934Liabilities 2015: $3,121,647Net Assets 2015: -$1,711,7132015Assets 2016: $1,289,035Liabilities 2016: $3,117,853Net Assets 2016: -$1,828,8182016Assets 2017: $1,176,147Liabilities 2017: $3,090,451Net Assets 2017: -$1,914,3042017Assets 2018: $1,070,031Liabilities 2018: $3,094,014Net Assets 2018: -$2,023,9832018Assets 2019: $973,592Liabilities 2019: $3,081,367Net Assets 2019: -$2,107,7752019Assets 2020: $950,511Liabilities 2020: $3,164,780Net Assets 2020: -$2,214,2692020Assets 2021: $793,118Liabilities 2021: $3,147,484Net Assets 2021: -$2,354,3662021Assets 2022: $768,452Liabilities 2022: $3,193,577Net Assets 2022: -$2,425,1252022Assets 2023: $642,661Liabilities 2023: $3,166,824Net Assets 2023: -$2,524,1632023Assets 2024: $539,674Liabilities 2024: $3,198,295Net Assets 2024: -$2,658,6212024Assets 2025: $655,891Liabilities 2025: $3,507,681Net Assets 2025: -$2,851,7902025

Highlighted filing

2016

Assets$1,289,035
Liabilities$3,117,853
Net Assets-$1,828,818

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $311,8012011Expenses 2012: $313,6652012Revenue 2013: $257,686Expenses 2013: $338,367Net Income 2013: -$80,6812013Revenue 2014: $256,259Expenses 2014: $363,778Net Income 2014: -$107,5192014Revenue 2015: $275,971Expenses 2015: $348,954Net Income 2015: -$72,9832015Revenue 2016: $291,070Expenses 2016: $408,175Net Income 2016: -$117,1052016Revenue 2017: $298,651Expenses 2017: $384,137Net Income 2017: -$85,4862017Revenue 2018: $310,527Expenses 2018: $420,206Net Income 2018: -$109,6792018Revenue 2019: $322,428Expenses 2019: $406,220Net Income 2019: -$83,7922019Revenue 2020: $327,653Expenses 2020: $434,147Net Income 2020: -$106,4942020Revenue 2021: $329,833Expenses 2021: $469,930Net Income 2021: -$140,0972021Revenue 2022: $375,482Expenses 2022: $446,241Net Income 2022: -$70,7592022Revenue 2023: $359,880Expenses 2023: $458,918Net Income 2023: -$99,0382023Revenue 2024: $376,190Expenses 2024: $510,648Net Income 2024: -$134,4582024Revenue 2025: $353,081Expenses 2025: $546,250Net Income 2025: -$193,1692025

Highlighted filing

2016

Revenue$291,070
Expenses$408,175
Net Income-$117,105
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 13, 2016
Return Version
2015v2.1
Gross Receipts
$291,070
Mission and Program Overview

Mission

Provides housing to elderly and disabled persons and families under section 202 of the national housing act under an agreement with the department of hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,270,120$1,165,695▼ $104,425
Prepaid Expenses and Deferred Charges$12,994$12,885▼ $109
Cash and Non-Interest-Bearing Accounts$325$674▲ $349
Accounts Receivable$26,431$317▼ $26,114
Total Assets$1,409,934$1,289,035▼ $120,899
Other Assets Total$100,064$109,464▲ $9,400
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,074,578$3,074,578→ $0
Accounts Payable and Accrued Expenses$35,279$29,357▼ $5,922
Other Liabilities$11,761$13,881▲ $2,120
Deferred Revenue$29$37▲ $8
Total Liabilities$3,121,647$3,117,853▼ $3,794
Net Assets / Fund Balance
Unrestricted Net Assets$-1,711,713$-1,828,818▼ $117,105
Total Net Assets Fund Balance$-1,711,713$-1,828,818▼ $117,105
Total Liabilities and Net Assets / Fund Balance$1,409,934$1,289,035▼ $120,899

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$964,560$1,822,650$2,787,210
Land$147,072-$147,072
Other Land Buildings$33,832$81,666$115,498
Equipment$20,231$11,618$31,849
Other Assets Org$7,974--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Thomas D TurnbullAsst Sec/tre$379,744$379,744
Joseph a BudzynskiAsst. Sec/tr$280,916$280,916
Juanita CohenAsst. Sec/tr$231,951$231,951
Nancy GavinAsst. Sec/tr$201,001$201,001
Deborah PerryAsst Sec/tre$186,788$186,788

Board Members and Trustees

NameTitle
C David KikumotoBoard Chair
Michael W KingPresident
John MorlandBoard Vice C
Andy EdeburnDirector
Ann SchnareDirector
Edwina CarringtonDirector
James LeblancDirector
Jane BurksDirector
Karen DaleDirector
Michael SullivanDirector
Stephen WakefieldDirector
Wilfred N Cooper SrDirector
Deborah PerryAsst Sec/treas
Thomas D TurnbullAsst Sec/treas/COO
Patrick SheridanAsst. Sec
Robin KellerAsst. Sec
Nancy GavinAsst. Sec/treas
Juanita CohenAsst. Sec/treas.
Joseph a BudzynskiAsst. Sec/treas/CFO
Robert D GibsonKey Employee
Wayne C OlsonKey Employee
Carol MooreSecretary
Nancy J FeldmanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Voa National Housing CorporationMgmt, Acct1660 DUKE STREET, Alexandria, VA 22314$162,163
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$290,607
Investment Income
$463
Other Revenue
$0
Change in Net Assets
$-117,105

Audited Revenue Reconciliation

Revenue per Audited Statements
$291,070
Total Revenue per Audited Statements
$291,070
Total Revenue per Form 990
$291,070
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$311,456
Salaries, Compensation, and Employee Benefits$96,719
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$120,945--$120,945
Other Salaries and Wages$71,355--$71,355
Occupancy$52,787--$52,787
Fees for Services Management-$31,433-$31,433
Other Employee Benefits$17,785--$17,785
Office Expenses$12,093--$12,093
Fees for Services Accounting-$9,507-$9,507
Payroll Taxes$7,579--$7,579
Conferences and Meetings$4,558--$4,558
Insurance$3,358--$3,358
Advertising$1,004--$1,004
Other Expenses$107--$107
Total Functional Expenses$367,235$40,940$0$408,175

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$408,175
Total Expenses per Audited Statements$408,175
Total Expenses per Form 990$408,175
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 Security Deposits$13,881
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 1A

The organizations governing body delegated broad authority to an executive committee. The executive committee is composed of the following five officers of the organization: chair, president, vice chair, secretary, and treasurer. There are no executive committee members who are not on the governing body. The executive committee has the authority of the governing body in the management of the business of the organization.

Form 990, Page 6, Part VI, Line 2

Michael king president dir and/or officer of voa jane cohen asst. Sec./a dir and/or officer of voa thomas turnbull asst. Sec./a dir and/or officer of voa patrick sheridan assistant se dir and/or officer of voa joseph budzynski asst. Sec./a dir and/or officer of voa nancy gavin asst. Sec./a dir and/or officer of voa deborah perry asst. Sec./a dir and/or officer of voa robin keller assistant se dir and/or officer of voa

Form 990, Page 6, Part VI, Line 3

The organization has no employees, and has delegated control over certain property management duties to volunteers of america national housing corporation pursuant to a property management agreement. Volunteers of america national services, as the parent and sponsoring corporation, assists in providing to its subordinate corporations general and administrative supervision, financial management, quality assurance, regulatory compliance, real estate development and strategic planning.

Form 990, Page 6, Part VI, Line 7A

Volunteers of america, inc. Has the right to appoint or approve directors and volunteers of america, inc. Has, in turn, transferred this authority to volunteers of america national services.

Form 990, Page 6, Part VI, Line 7B

The articles of incorporation and bylaws of the corporation may not be amended without the prior written approval of the secretary of the u.s. Department of housing and urban development. Directors may be removed with or without cause at the request of the u.s. Department of housing and urban development. The bylaws may not be amended without the prior written consent of volunteers of america, inc.

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

The final form 990 is reviewed by asset management and an officer of the board of directors prior to filing with the irs. All members of the organizations board of directors and all officers of the board are also provided an opportunity to review the form 990 in electronic form immediately prior to filing.

Form 990, Page 6, Part VI, Line 12C

The policy requires officers, directors and key employees to disclose annually interests that could give rise to conflicts. The policy and disclosure form are distributed and collected annually, and individuals are required to update the disclosure form throughout the year in the event actual or potential conflicts arise. Conflicts of interest are reviewed by the board of directors. Persons with a conflict are prohibited from participating in the governing body's deliberations and decisions in the transaction.

Form 990, Page 6, Part VI, Line 19

Available at the address below: 1660 duke street alexandria, va 22314

Filing and Contact Details

Filer

Filer Name
New Bern Voa Elderly Housing Inc
EIN
72-1317429
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Joseph a Budzynski
Title
Asst. Sec/treas/CFO
Phone
7033415000
Signed
2016-10-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph a Budzynski
Formed
1996
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
12
Employees
0

Preparer

Firm
Maddox & Associates Apc
Address
5627 BANKERS AVE BLDG 2, BATON ROUGE, LA 70808-2610
Preparer
Jeffrey M Maddox
Phone
2259263360
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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IRS990/MissionDesc0PROVIDES HOUSING TO ELDERLY AND DISABLED PERSONS AND FAMILIES UNDER SECTION 202 OF THE NATIONAL HOUSING ACT UNDER AN AGREEMENT WITH THE DEPARTMENT OF HUD.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.66$3.51$2.85$0.35$0.55$0.19
2024Summary only. Only limited summary data is available for this year.$0.54$3.20$2.66$0.38$0.51$0.13
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$3.17$2.52$0.36$0.46$0.10
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.77$3.19$2.43$0.38$0.45$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.79$3.15$2.35$0.33$0.47$0.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$3.16$2.21$0.33$0.43$0.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$3.08$2.11$0.32$0.41$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.07$3.09$2.02$0.31$0.42$0.11
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.18$3.09$1.91$0.30$0.38$0.09
2016Detailed filing. Detailed filing data is available for this year.$1.29$3.12$1.83$0.29$0.41$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.41$3.12$1.71$0.28$0.35$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.47$3.11$1.64$0.26$0.36$0.11
2013Summary only. Only limited summary data is available for this year.$1.58$3.11$1.53$0.26$0.34$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.65$3.10$1.45$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.72$3.11$1.40$0.31