Civic Intelligence

Louisville Voa Elderly Housing Inc Spanish Cove Senior Housing

990 • Fiscal year 2014 • EIN 72-1328891

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 10, 2014

1660 Duke Street22314

(502) 636-0771

Siviq Scores

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

Liabilities / Assets

26th percentile

0.01x

Higher debt load relative to assets than 26% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

53rd percentile

0.13x

Higher debt load relative to revenue than 53% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

8th percentile

-36%

Higher net margin than 8% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

98th percentile

$487,861

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 184.3% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

22nd percentile

-4.2%

Faster asset growth than 22% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$2,490,171

Down $107,970 (-4.2%) from 2013

Net Assets

Down

$2,455,772

Down $95,400 (-3.7%) from 2013

Liabilities

Down

$34,399

Down $12,570 (-27%) from 2013

Revenue

$264,676

No earlier filing loaded for comparison.

Expenses

Down

$360,076

Down $8,110 (-2.2%) from 2013

Net Income

-$95,400

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.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $2,815,001Liabilities 2010: $3,349,027Net Assets 2010: -$534,0262010Assets 2011: $2,773,211Liabilities 2011: $30,107Net Assets 2011: $2,743,1042011Assets 2012: $2,678,312Liabilities 2012: $25,505Net Assets 2012: $2,652,8072012Assets 2013: $2,598,141Liabilities 2013: $46,969Net Assets 2013: $2,551,1722013Assets 2014: $2,490,171Liabilities 2014: $34,399Net Assets 2014: $2,455,7722014Assets 2015: $2,376,277Liabilities 2015: $26,539Net Assets 2015: $2,349,7382015Assets 2016: $2,323,877Liabilities 2016: $28,533Net Assets 2016: $2,295,3442016Assets 2017: $2,257,961Liabilities 2017: $29,624Net Assets 2017: $2,228,3372017Assets 2018: $2,164,554Liabilities 2018: $33,181Net Assets 2018: $2,131,3732018Assets 2019: $2,112,447Liabilities 2019: $36,656Net Assets 2019: $2,075,7912019Assets 2020: $2,047,725Liabilities 2020: $40,615Net Assets 2020: $2,007,1102020Assets 2021: $1,940,503Liabilities 2021: $36,603Net Assets 2021: $1,903,9002021Assets 2022: $1,833,961Liabilities 2022: $36,086Net Assets 2022: $1,797,8752022Assets 2023: $1,741,932Liabilities 2023: $59,271Net Assets 2023: $1,682,6612023Assets 2024: $1,620,410Liabilities 2024: $66,967Net Assets 2024: $1,553,4432024Assets 2025: $1,589,780Liabilities 2025: $103,196Net Assets 2025: $1,486,5842025

Highlighted filing

2014

Assets$2,490,171
Liabilities$34,399
Net Assets$2,455,772

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $296,3692010Expenses 2011: $303,3292011Expenses 2012: $355,5382012Expenses 2013: $368,1862013Revenue 2014: $264,676Expenses 2014: $360,076Net Income 2014: -$95,4002014Revenue 2015: $265,280Expenses 2015: $371,314Net Income 2015: -$106,0342015Revenue 2016: $287,335Expenses 2016: $341,729Net Income 2016: -$54,3942016Revenue 2017: $313,554Expenses 2017: $380,561Net Income 2017: -$67,0072017Revenue 2018: $314,151Expenses 2018: $411,115Net Income 2018: -$96,9642018Revenue 2019: $321,438Expenses 2019: $377,020Net Income 2019: -$55,5822019Revenue 2020: $318,277Expenses 2020: $386,958Net Income 2020: -$68,6812020Revenue 2021: $317,635Expenses 2021: $420,845Net Income 2021: -$103,2102021Revenue 2022: $320,760Expenses 2022: $426,785Net Income 2022: -$106,0252022Revenue 2023: $333,301Expenses 2023: $448,515Net Income 2023: -$115,2142023Revenue 2024: $358,896Expenses 2024: $488,114Net Income 2024: -$129,2182024Revenue 2025: $393,970Expenses 2025: $460,829Net Income 2025: -$66,8592025

Highlighted filing

2014

Revenue$264,676
Expenses$360,076
Net Income-$95,400
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 10, 2014
Return Version
2013v3.1
Gross Receipts
$264,676
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$2,305,223$2,224,408▼ $80,815
Cash and Non-Interest-Bearing Accounts$40,489$72,502▲ $32,013
Prepaid Expenses and Deferred Charges$12,471$12,284▼ $187
Accounts Receivable$414$428▲ $14
Total Assets$2,598,141$2,490,171▼ $107,970
Other Assets Total$239,544$180,549▼ $58,995
Liabilities
Accounts Payable and Accrued Expenses$33,813$20,511▼ $13,302
Other Liabilities$13,153$13,849▲ $696
Deferred Revenue$3$39▲ $36
Total Liabilities$46,969$34,399▼ $12,570
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,320,500$3,320,500→ $0
Unrestricted Net Assets$-769,328$-864,728▼ $95,400
Total Net Assets Fund Balance$2,551,172$2,455,772▼ $95,400
Total Liabilities and Net Assets / Fund Balance$2,598,141$2,490,171▼ $107,970

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,958,572$1,133,775$3,092,347
Land$212,500-$212,500
Equipment$40,034$118,297$158,331
Other Land Buildings$13,302$1,963$15,265
Other Assets Org$7,201--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Thomas D TurnbullAsst. Sec/as$340,573$340,573
David T BowmanAsst. Sec/as$281,374$281,374
Joseph a BudzynskiAsst. Sec/tr$246,967$246,967
Nancy GavinAsst. Sec/tr$212,691$212,691
Deborah PerryAsst. Sec/tr$181,587$181,587

Board Members and Trustees

NameTitle
C David KikumotoBoard Chair
Michael KingPresident
Shawn M BloomBoard Vice C
Ann SchnareDirector
Carlos MaeseDirector
John MorlandDirector
Karen DaleDirector
Michael SpilaneDirector
Michael SullivanDirector
Stephen WakefieldDirector
Wilfred N Cooper SrDirector
Patrick SheridanAsst. Sec.
Robin KellerAsst. Sec.
David T BowmanAsst. Sec/asst Treas
Thomas D TurnbullAsst. Sec/asst Treas
Deborah PerryAsst. Sec/treas
Nancy GavinAsst. 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
Volunteers Of America Of KentuckyMgmt, P/r, Acct-$115,504
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$263,035
Investment Income
$1,641
Other Revenue
$0
Change in Net Assets
$-95,400

Audited Revenue Reconciliation

Revenue per Audited Statements
$264,676
Total Revenue per Audited Statements
$264,676
Total Revenue per Form 990
$264,676
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$305,443
Salaries, Compensation, and Employee Benefits$54,633
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$103,268--$103,268
Occupancy$78,057--$78,057
Other Salaries and Wages$46,200--$46,200
Fees for Services Management-$27,957-$27,957
Office Expenses$16,416--$16,416
Fees for Services Accounting-$10,066-$10,066
Payroll Taxes$5,438--$5,438
Other Employee Benefits$2,995--$2,995
Insurance$1,730--$1,730
Conferences and Meetings$811--$811
Advertising$490--$490
Fees for Services Legal-$216-$216
Other Expenses$118--$118
Total Functional Expenses$321,837$38,239$0$360,076

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$360,076
Total Expenses per Audited Statements$360,076
Total Expenses per Form 990$360,076
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
Security Deposits$13,849
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 david bowman 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 voa kentucky 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

EIN
72-1328891
Phone
5026360771

Signing Officer

Name
Thomas D Turnbull
Title
Asst. Sec/treas
Phone
5026360771
Signed
2014-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Same as C Above
Formed
1996
Legal Domicile
Ky
Voting Board Members
13
Independent Board Members
11
Employees
0

Preparer

Preparer
William B Beale
Phone
2259263360
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IRS990/Form990PartVIISectionAGrp/PersonNm14JOSEPH A BUDZYNSKI
IRS990/Form990PartVIISectionAGrp/PersonNm15DAVID T BOWMAN
IRS990/Form990PartVIISectionAGrp/PersonNm16PATRICK SHERIDAN
IRS990/Form990PartVIISectionAGrp/PersonNm17NANCY GAVIN
IRS990/Form990PartVIISectionAGrp/PersonNm18ROBIN KELLER
IRS990/Form990PartVIISectionAGrp/PersonNm19DEBORAH PERRY
IRS990/Form990PartVIISectionAGrp/PersonNm20WAYNE C OLSON
IRS990/Form990PartVIISectionAGrp/PersonNm21ROBERT D GIBSON
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt1998045
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20301914
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt21189437
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD VICE C
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13ASST. SEC/AS
IRS990/Form990PartVIISectionAGrp/TitleTxt14ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt15ASST. SEC/AS
IRS990/Form990PartVIISectionAGrp/TitleTxt16ASST. SEC.
IRS990/Form990PartVIISectionAGrp/TitleTxt17ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt18ASST. SEC.
IRS990/Form990PartVIISectionAGrp/TitleTxt19ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt20KEY EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21KEY EMPLOYEE
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01996
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0264676
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt011
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt01730
IRS990/InsuranceGrp/TotalAmt01730
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt01641
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01641
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01254035
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02305223
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02224408
IRS990/LandBldgEquipCostOrOtherBssAmt03478443
IRS990/LegalDomicileStateCd0KY
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt02551172
IRS990/NetAssetsOrFundBalancesEOYAmt02455772
IRS990/NondeductibleContributionsInd0false
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IRS990/OfficeExpensesGrp/ProgramServicesAmt016416
IRS990/OfficeExpensesGrp/TotalAmt016416
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt02995
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02995
IRS990/OtherExpensesGrp/Desc0OPERATING & MAINTENANCE
IRS990/OtherExpensesGrp/Desc1SERVICE COORDINATOR
IRS990/OtherExpensesGrp/Desc2ADMINISTRATIVE
IRS990/OtherExpensesGrp/Desc3MISC TAXES
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IRS990/OtherExpensesGrp/ProgramServicesAmt21723
IRS990/OtherExpensesGrp/ProgramServicesAmt3118
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IRS990/OtherExpensesGrp/TotalAmt132065
IRS990/OtherExpensesGrp/TotalAmt21723
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0132
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0256028
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0239725
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0132
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0357
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IRS990ScheduleA/PublicSupportPY509Pct00.98070
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0254863
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0256028
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0239725

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.59$0.10$1.49$0.39$0.46$0.07
2024Summary only. Only limited summary data is available for this year.$1.62$0.07$1.55$0.36$0.49$0.13
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.74$0.06$1.68$0.33$0.45$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.83$0.04$1.80$0.32$0.43$0.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.94$0.04$1.90$0.32$0.42$0.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.05$0.04$2.01$0.32$0.39$0.07
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.11$0.04$2.08$0.32$0.38$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.16$0.03$2.13$0.31$0.41$0.10
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.26$0.03$2.23$0.31$0.38$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.32$0.03$2.30$0.29$0.34$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.38$0.03$2.35$0.27$0.37$0.11
2014Detailed filing. Detailed filing data is available for this year.$2.49$0.03$2.46$0.26$0.36$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.60$0.05$2.55$0.37
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.68$0.03$2.65$0.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.77$0.03$2.74$0.30
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.82$3.35$0.53$0.30