Civic Intelligence

Will Woods VIII DBA Belle Pointe Apts & Belle Terre Apts

990 • Fiscal year 2022 • EIN 72-1327147

Aug 01, 2021 to Jul 31, 2022 • Filed on Jun 15, 2023

3900 Howard AveNew Orleans, LA 70125

(504) 830-3700

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.93x

Higher debt load relative to assets than 93% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

96th percentile

5.42x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

9th percentile

-37%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

85th percentile

$159,423

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 22.6% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

93rd percentile

85%

Faster asset growth than 93% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

32nd percentile

-5.7%

Faster revenue growth than 32% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$4,116,260

Up $1,891,593 (+85%) from 2021

Net Assets

Down

$298,881

Down $260,453 (-47%) from 2021

Liabilities

Up

$3,817,379

Up $2,152,046 (+129%) from 2021

Revenue

Down

$704,072

Down $42,716 (-5.7%) from 2021

Expenses

Up

$964,525

Up $179,626 (+23%) from 2021

Net Income

Down

-$260,453

Down $222,342 (-583%) from 2021

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $2,674,766Liabilities 2011: $2,170,618Net Assets 2011: $504,1482011Assets 2012: $2,647,512Liabilities 2012: $2,115,750Net Assets 2012: $531,7622012Assets 2013: $2,701,688Liabilities 2013: $2,070,220Net Assets 2013: $631,4682013Assets 2014: $2,662,735Liabilities 2014: $2,015,350Net Assets 2014: $647,3852014Assets 2015: $2,595,547Liabilities 2015: $1,961,118Net Assets 2015: $634,4292015Assets 2016: $2,604,991Liabilities 2016: $1,899,387Net Assets 2016: $705,6042016Assets 2017: $2,415,242Liabilities 2017: $1,858,991Net Assets 2017: $556,2512017Assets 2018: $2,371,966Liabilities 2018: $1,774,210Net Assets 2018: $597,7562018Assets 2019: $2,406,493Liabilities 2019: $1,779,891Net Assets 2019: $626,6022019Assets 2020: $2,349,328Liabilities 2020: $1,751,883Net Assets 2020: $597,4452020Assets 2021: $2,224,667Liabilities 2021: $1,665,333Net Assets 2021: $559,3342021Assets 2022: $4,116,260Liabilities 2022: $3,817,379Net Assets 2022: $298,8812022Assets 2023: $3,923,614Liabilities 2023: $3,747,974Net Assets 2023: $175,6402023Assets 2024: $3,863,189Liabilities 2024: $3,235,041Net Assets 2024: $628,1482024Assets 2025: $3,757,879Liabilities 2025: $3,196,593Net Assets 2025: $561,2862025

Highlighted filing

2022

Assets$4,116,260
Liabilities$3,817,379
Net Assets$298,881

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $705,3692011Expenses 2012: $702,0892012Expenses 2013: $695,7912013Revenue 2014: $745,745Expenses 2014: $729,828Net Income 2014: $15,9172014Revenue 2015: $738,395Expenses 2015: $751,351Net Income 2015: -$12,9562015Revenue 2016: $743,021Expenses 2016: $671,846Net Income 2016: $71,1752016Revenue 2017: $723,149Expenses 2017: $872,502Net Income 2017: -$149,3532017Revenue 2018: $726,438Expenses 2018: $684,933Net Income 2018: $41,5052018Revenue 2019: $739,650Expenses 2019: $710,804Net Income 2019: $28,8462019Revenue 2020: $750,947Expenses 2020: $780,104Net Income 2020: -$29,1572020Revenue 2021: $746,788Expenses 2021: $784,899Net Income 2021: -$38,1112021Revenue 2022: $704,072Expenses 2022: $964,525Net Income 2022: -$260,4532022Revenue 2023: $746,225Expenses 2023: $869,466Net Income 2023: -$123,2412023Revenue 2024: $1,336,329Expenses 2024: $883,821Net Income 2024: $452,5082024Revenue 2025: $836,056Expenses 2025: $902,918Net Income 2025: -$66,8622025

Highlighted filing

2022

Revenue$704,072
Expenses$964,525
Net Income-$260,453
Jump To
Filing Snapshot
Filing Period
Aug 1, 2021 to Jul 31, 2022
Signed
Jun 15, 2023
Return Version
2021v4.1
Gross Receipts
$836,039
Mission and Program Overview

Mission

To acquire and operate two apartment complexes providing low-income housing located in laplace, la

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,895,200$3,094,094▲ $1,198,894
Accounts Receivable$22,189$631,170▲ $608,981
Savings and Temporary Cash Investments$181,782$233,801▲ $52,019
Cash and Non-Interest-Bearing Accounts$64,925$77,020▲ $12,095
Prepaid Expenses and Deferred Charges$53,597$73,084▲ $19,487
Other Notes and Loans Receivable, Net$395$512▲ $117
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,224,667$4,116,260▲ $1,891,593
Other Assets Total$6,579$6,579→ $0
Liabilities
Accounts Payable and Accrued Expenses$46,764$1,940,238▲ $1,893,474
Other Liabilities$1,607,708$1,870,902▲ $263,194
Deferred Revenue$10,861$6,239▼ $4,622
Total Liabilities$1,665,333$3,817,379▲ $2,152,046
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$559,334$298,881▼ $260,453
Total Net Assets Fund Balance$559,334$298,881▼ $260,453
Total Liabilities and Net Assets / Fund Balance$2,224,667$4,116,260▲ $1,891,593

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,551,087$5,418$2,556,505
Land$467,450-$467,450
Other Land Buildings$75,557$11,525$87,082
Equipment-$9,326$9,326
Compensation and Service Providers

Employees

NameTitleOtherTotal
Ms Tammy CardinaleSecretary/Treas$134,221$134,221

Highest Paid Contractors

ContractorServicesLocationCompensation
The Titan GroupConstruction16-C VETERANS BLVD, Kenner, LA 70062$677,862
Revenue and Support

Revenue Composition

Contributions and Grants
$20,731
Program Service Revenue
$577,031
Investment Income
$100,143
Other Revenue
$6,167
Change in Net Assets
$-260,453

Audited Revenue Reconciliation

Revenue per Audited Statements
$704,072
Revenue Not Reported on Form 990
$8,459
Total Revenue per Audited Statements
$712,531
Total Revenue per Form 990
$704,072
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$964,525
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance$93,304--$93,304
All Other Expenses$91,608--$91,608
Interest$84,260--$84,260
Other Expenses$79,786--$79,786
Occupancy$71,931--$71,931
Fees for Services Management$36,359--$36,359
Depreciation Depletion$19,596--$19,596
Fees for Services Accounting$5,594$7,300-$12,894
Office Expenses$6,475--$6,475
Fees for Services Legal-$4,077-$4,077
Total Functional Expenses$953,148$11,377$0$964,525

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$972,984
Expenses per Audited Statements$964,525
Total Expenses per Form 990$964,525
Expenses Not Reported on Form 990$8,459
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
Mortgage from Willwoods$1,339,432
Due to Related Parties$474,621
Tenant security deposit liability$56,848
Rounding$1
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Spouses are indicated on the same line in part vii-family relationshipsthe following trustees have family relationships:mrs. Paul a. Naltymonsignor chistopher h. Naltymr. And mrs. Frank naltymr. And mrs. Philip hodgesmrs. Leah nalty rallsmr. And mrs. Mark rodishannon rodi nash

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

Willwoods community management, inc. Performs management services, bookkeeping services and general oversight of the organization. Wayne mayeux, vice-president of the organization is an employee of willwoods community management, inc. And received the compensation reported in part vii from that entity.

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

Management and the board of directors will review and approve the form 990 return prior to submission.

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

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Will Woods Viii
EIN
72-1327147
Phone
5048303700
Address
3900 HOWARD AVE, NEW ORLEANS, LA 70125

Signing Officer

Name
Ron Yager
Title
President
Signed
2023-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Yager
Formed
1996
Legal Domicile
La
Voting Board Members
26
Independent Board Members
26
Employees
0

Preparer

Firm
Paciera Gautreau & Priest LLC Cpas
Address
3209 RIDGELAKE DR STE 200, METAIRIE, LA 70002
Preparer
Timothy L Priest
Phone
5044865573
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Interest forgiven on rel. Pty. Note rec. $8459

Part XII, Line 2D: Other expenses and losses per audited F/S

Interest forgiven on rel. Pty. Note rec. $8459

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IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary/Treas
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IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Emerita CoChair
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustees
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Sec/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
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IRS990/PYProgramServiceRevenueAmt0727526
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.76$3.20$0.56$0.84$0.90$0.07
2024Detailed filing. Detailed filing data is available for this year.$3.86$3.24$0.63$1.34$0.88$0.45
2023Detailed filing. Detailed filing data is available for this year.$3.92$3.75$0.18$0.75$0.87$0.12
2022Detailed filing. Detailed filing data is available for this year.$4.12$3.82$0.30$0.70$0.96$0.26
2021Detailed filing. Detailed filing data is available for this year.$2.22$1.67$0.56$0.75$0.78$0.04
2020Detailed filing. Detailed filing data is available for this year.$2.35$1.75$0.60$0.75$0.78$0.03
2019Detailed filing. Detailed filing data is available for this year.$2.41$1.78$0.63$0.74$0.71$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.37$1.77$0.60$0.73$0.68$0.04
2017Detailed filing. Detailed filing data is available for this year.$2.42$1.86$0.56$0.72$0.87$0.15
2016Detailed filing. Detailed filing data is available for this year.$2.60$1.90$0.71$0.74$0.67$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.60$1.96$0.63$0.74$0.75$0.01
2014Detailed filing. Detailed filing data is available for this year.$2.66$2.02$0.65$0.75$0.73$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.70$2.07$0.63$0.70
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.65$2.12$0.53$0.70
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.67$2.17$0.50$0.71