Civic Intelligence

New Hope Elderly Housing Inc North Park Plaza

990 • Fiscal year 2017 • EIN 73-1107761

Jul 01, 2016 to Jun 30, 2017 • Filed on Sep 28, 2017

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

91st percentile

0.96x

Higher debt load relative to assets than 91% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

95th percentile

4.48x

Higher debt load relative to revenue than 95% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

10th percentile

-29%

Higher net margin than 10% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

98th percentile

$538,642

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 52.9% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

12th percentile

-9.6%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

37th percentile

-0.0%

Faster revenue growth than 37% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$4,734,456

Down $504,877 (-9.6%) from 2016

Net Assets

Down

$173,163

Down $295,944 (-63%) from 2016

Liabilities

Down

$4,561,293

Down $208,933 (-4.4%) from 2016

Revenue

Down

$1,018,318

Down $482 (-0.0%) from 2016

Expenses

Down

$1,314,262

Down $50,628 (-3.7%) from 2016

Net Income

Up

-$295,944

Up $50,146 (+14%) from 2016

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2011: $4,642,330Liabilities 2011: $2,808,608Net Assets 2011: $1,833,7222011Assets 2012: $7,438,904Liabilities 2012: $5,710,260Net Assets 2012: $1,728,6442012Assets 2013: $6,471,260Liabilities 2013: $5,003,577Net Assets 2013: $1,467,6832013Assets 2014: $6,058,333Liabilities 2014: $4,907,838Net Assets 2014: $1,150,4952014Assets 2015: $5,658,991Liabilities 2015: $4,843,794Net Assets 2015: $815,1972015Assets 2016: $5,239,333Liabilities 2016: $4,770,226Net Assets 2016: $469,1072016Assets 2017: $4,734,456Liabilities 2017: $4,561,293Net Assets 2017: $173,1632017Assets 2018: $4,298,651Liabilities 2018: $4,456,201Net Assets 2018: -$157,5502018Assets 2019: $3,884,613Liabilities 2019: $4,392,392Net Assets 2019: -$507,7792019Assets 2020: $3,457,711Liabilities 2020: $4,307,786Net Assets 2020: -$850,0752020Assets 2021: $3,098,680Liabilities 2021: $4,214,812Net Assets 2021: -$1,116,1322021Assets 2022: $2,807,323Liabilities 2022: $4,201,312Net Assets 2022: -$1,393,9892022Assets 2023: $2,697,733Liabilities 2023: $4,320,996Net Assets 2023: -$1,623,2632023Assets 2024: $2,613,951Liabilities 2024: $4,099,739Net Assets 2024: -$1,485,7882024Assets 2025: $3,040,941Liabilities 2025: $4,331,052Net Assets 2025: -$1,290,1112025

Highlighted filing

2017

Assets$4,734,456
Liabilities$4,561,293
Net Assets$173,163

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $1,248,6422011Expenses 2012: $1,190,8912012Expenses 2013: $1,336,8112013Revenue 2014: $1,010,667Expenses 2014: $1,327,855Net Income 2014: -$317,1882014Revenue 2015: $988,846Expenses 2015: $1,324,144Net Income 2015: -$335,2982015Revenue 2016: $1,018,800Expenses 2016: $1,364,890Net Income 2016: -$346,0902016Revenue 2017: $1,018,318Expenses 2017: $1,314,262Net Income 2017: -$295,9442017Revenue 2018: $1,012,702Expenses 2018: $1,343,415Net Income 2018: -$330,7132018Revenue 2019: $1,029,050Expenses 2019: $1,379,279Net Income 2019: -$350,2292019Revenue 2020: $1,029,497Expenses 2020: $1,371,793Net Income 2020: -$342,2962020Revenue 2021: $1,025,470Expenses 2021: $1,291,527Net Income 2021: -$266,0572021Revenue 2022: $1,014,092Expenses 2022: $1,291,949Net Income 2022: -$277,8572022Revenue 2023: $1,109,403Expenses 2023: $1,338,677Net Income 2023: -$229,2742023Revenue 2024: $1,405,587Expenses 2024: $1,268,112Net Income 2024: $137,4752024Revenue 2025: $1,536,968Expenses 2025: $1,341,291Net Income 2025: $195,6772025

Highlighted filing

2017

Revenue$1,018,318
Expenses$1,314,262
Net Income-$295,944
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Sep 28, 2017
Return Version
2016v3.0
Gross Receipts
$1,018,318
Mission and Program Overview

Mission

Provides housing for elderly persons and families under section 207/223(f) of the national housing act under an agreement with the u.s. Department of hud.

Provides housing for the 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$4,721,843$4,378,725▼ $343,118
Intangible Assets$132,107--
Prepaid Expenses and Deferred Charges$35,713$35,277▼ $436
Cash and Non-Interest-Bearing Accounts$29,983$15,136▼ $14,847
Accounts Receivable$703$1,845▲ $1,142
Total Assets$5,239,333$4,734,456▼ $504,877
Other Assets Total$318,984$303,473▼ $15,511
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,673,319$4,461,599▼ $211,720
Accounts Payable and Accrued Expenses$59,937$64,001▲ $4,064
Other Liabilities$36,968$35,462▼ $1,506
Deferred Revenue$2$231▲ $229
Total Liabilities$4,770,226$4,561,293▼ $208,933
Net Assets / Fund Balance
Unrestricted Net Assets$469,107$173,163▼ $295,944
Total Net Assets Fund Balance$469,107$173,163▼ $295,944
Total Liabilities and Net Assets / Fund Balance$5,239,333$4,734,456▼ $504,877

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,987,843$6,561,106$10,548,949
Other Land Buildings$244,798$324,251$569,049
Land$145,465-$145,465
Equipment$619$17,998$18,617
Other Assets Org$303,473--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Thomas D TurnbullAsst. Sec/tr$430,765$430,765
Joseph a BudzynskiAsst. Sec/tr$295,181$295,181
Nancy GavinAsst. Sec/tr$212,905$212,905
Deborah PerryAsst. Sec/tr$187,200$187,200

Board Members and Trustees

NameTitle
Jane BurksBoard Chair
Michael W KingPresident
C David KikumotoVice Chairma
Andy EdeburnDirector
James LeblancDirector
Karen DaleDirector
Keith KnappDirector
Michael SullivanDirector
Nancy RaseDirector
Patti ArnoldDirector
Stephen WakefieldDirector
Wilfred N Cooper SrDirector
Patrick SheridanAsst. Sec.
Robin KellerAsst. Sec.
Deborah PerryAsst. Sec/treas
Nancy GavinAsst. Sec/treas
Thomas D TurnbullAsst. Sec/treas
Joseph a BudzynskiAsst. Sec/treas, CFO
Robert D GibsonKey Employee
Wayne C OlsonKey Employee
Edwina CarringtonSecretary
Carol MooreTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Volunteers Of America Of MinnesotaMgmt, Payroll,2021 EAST HENNEPIN AVENUE, Minneapolis, MN 55413-2724$249,639
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,018,191
Investment Income
$127
Other Revenue
$0
Change in Net Assets
$-295,944

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,018,318
Total Revenue per Audited Statements
$1,018,318
Total Revenue per Form 990
$1,018,318
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,132,429
Salaries, Compensation, and Employee Benefits$181,833
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$486,859--$486,859
Occupancy$364,081--$364,081
Other Salaries and Wages$163,659--$163,659
Fees for Services Management-$61,343-$61,343
Office Expenses$27,972--$27,972
Fees for Services Accounting-$14,826-$14,826
Other Employee Benefits$9,655--$9,655
Payroll Taxes$8,519--$8,519
Other Expenses$5,061--$5,061
Advertising$4,495--$4,495
Insurance$3,877--$3,877
Conferences and Meetings$2,802--$2,802
All Other Expenses$13--$13
Total Functional Expenses$1,238,093$76,169$0$1,314,262

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,314,262
Total Expenses per Audited Statements$1,314,262
Total Expenses per Form 990$1,314,262
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$35,441
Residual Receipts Excess$21
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 sharon wilson geno director 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 minnesota 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 Hope Elderly Housing Inc
EIN
73-1107761
Phone
7033415000
Address
1660 DUKE STREET, ALEXANDRIA, VA 22314

Signing Officer

Name
Joseph a Budzynski
Title
Asst. Sec/treas, CFO
Phone
7033415000
Signed
2017-09-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph a Budzynski
Formed
1980
Legal Domicile
Mn
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
William B Beale
Phone
2259263360
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14ASST. SEC/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt15ASST. SEC/TR
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/FormationYr01980
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IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt014
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt01018318
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
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IRS990/InsuranceGrp/ProgramServicesAmt03877
IRS990/InsuranceGrp/TotalAmt03877
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IRS990/LandBldgEquipAccumDeprecAmt06903355
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IRS990/LandBldgEquipCostOrOtherBssAmt011282080
IRS990/LegalDomicileStateCd0MN
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0PROVIDES HOUSING FOR THE 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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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0173163
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IRS990/OccupancyGrp/TotalAmt0364081
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IRS990/OfficeExpensesGrp/TotalAmt027972
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc1SERVICE EXPENSES
IRS990/OtherExpensesGrp/Desc2ADMINISTRATIVE
IRS990/OtherExpensesGrp/Desc3MISC TAXES, LISC, PERMITS
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IRS990/OtherExpensesGrp/ProgramServicesAmt142062
IRS990/OtherExpensesGrp/ProgramServicesAmt27512
IRS990/OtherExpensesGrp/ProgramServicesAmt35061
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IRS990/OtherExpensesGrp/TotalAmt142062
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IRS990/PrincipalOfficerNm0JOSEPH A BUDZYNSKI
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0332
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01010335
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0332
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0628
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IRS990ScheduleA/PublicSupportCY509Pct00.99970
IRS990ScheduleA/PublicSupportPY509Pct00.99960
IRS990ScheduleA/PublicSupportTotal509Amt05111107
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01018191
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01018716
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0988643
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01010335
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01075222
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01010667
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01075850
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05112481
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03987843
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06561106
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010548949
IRS990ScheduleD/EquipmentGrp/BookValueAmt0619
IRS990ScheduleD/EquipmentGrp/DepreciationAmt017998
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt018617
IRS990ScheduleD/ExpensesSubtotalAmt01314262
IRS990ScheduleD/LandGrp/BookValueAmt0145465
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0145465
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0303473

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.$3.04$4.33$1.29$1.54$1.34$0.20
2024Detailed filing. Detailed filing data is available for this year.$2.61$4.10$1.49$1.41$1.27$0.14
2023Detailed filing. Detailed filing data is available for this year.$2.70$4.32$1.62$1.11$1.34$0.23
2022Detailed filing. Detailed filing data is available for this year.$2.81$4.20$1.39$1.01$1.29$0.28
2021Detailed filing. Detailed filing data is available for this year.$3.10$4.21$1.12$1.03$1.29$0.27
2020Detailed filing. Detailed filing data is available for this year.$3.46$4.31$0.85$1.03$1.37$0.34
2019Detailed filing. Detailed filing data is available for this year.$3.88$4.39$0.51$1.03$1.38$0.35
2018Detailed filing. Detailed filing data is available for this year.$4.30$4.46$0.16$1.01$1.34$0.33
2017Detailed filing. Detailed filing data is available for this year.$4.73$4.56$0.17$1.02$1.31$0.30
2016Detailed filing. Detailed filing data is available for this year.$5.24$4.77$0.47$1.02$1.36$0.35
2015Detailed filing. Detailed filing data is available for this year.$5.66$4.84$0.82$0.99$1.32$0.34
2014Detailed filing. Detailed filing data is available for this year.$6.06$4.91$1.15$1.01$1.33$0.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.47$5.00$1.47$1.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.44$5.71$1.73$1.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.64$2.81$1.83$1.25