Civic Intelligence

Villages Ltd.

990 • Fiscal year 2020 • EIN 74-2177138

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization Profilewww.housingcatalyst.com
1715 W Mountain AvenueFort Collins, CO 80521

(970) 416-2910

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.03x

Higher debt load relative to assets than 22% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

41st percentile

0.21x

Higher debt load relative to revenue than 41% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

78th percentile

22%

Higher net margin than 78% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

22nd percentile

-1.2%

Faster asset growth than 22% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

35th percentile

-4.4%

Faster revenue growth than 35% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Down

$18,418,389

Down $225,233 (-1.2%) from 2019

Net Assets

Up

$17,794,958

Up $644,012 (+3.8%) from 2019

Liabilities

Down

$623,431

Down $869,245 (-58%) from 2019

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin78th percentile

Revenue

Down

$2,904,574

Down $132,838 (-4.4%) from 2019

Expenses

Down

$2,260,562

Down $1,773 (-0.1%) from 2019

Net Income

Down

$644,012

Down $131,065 (-17%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$40M$30M$20M$10M$0Assets 2011: $16,115,954Liabilities 2011: $7,375,134Net Assets 2011: $8,740,8202011Assets 2012: $17,046,063Liabilities 2012: $7,091,022Net Assets 2012: $9,955,0412012Assets 2013: $16,794,887Liabilities 2013: $6,656,159Net Assets 2013: $10,138,7282013Assets 2014: $17,320,050Liabilities 2014: $3,129,213Net Assets 2014: $14,190,8372014Assets 2015: $18,183,276Liabilities 2015: $2,891,386Net Assets 2015: $15,291,8902015Assets 2016: $18,583,872Liabilities 2016: $2,493,873Net Assets 2016: $16,089,9992016Assets 2017: $18,896,364Liabilities 2017: $2,178,183Net Assets 2017: $16,718,1812017Assets 2018: $19,306,898Liabilities 2018: $1,858,218Net Assets 2018: $17,448,6802018Assets 2019: $18,643,622Liabilities 2019: $1,492,676Net Assets 2019: $17,150,9462019Assets 2020: $18,418,389Liabilities 2020: $623,431Net Assets 2020: $17,794,9582020Assets 2021: $22,873,968Liabilities 2021: $198,346Net Assets 2021: $22,675,6222021Assets 2022: $23,852,035Liabilities 2022: $822,275Net Assets 2022: $23,029,7602022Assets 2023: $31,071,476Liabilities 2023: $465,552Net Assets 2023: $30,605,9242023Assets 2024: $37,696,583Liabilities 2024: $280,051Net Assets 2024: $37,416,5322024

Highlighted filing

2020

Assets$18,418,389
Liabilities$623,431
Net Assets$17,794,958
Open 2020 Filing

Operations Trend

Revenue Growth35th percentile

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

$15M$10M$5.0M$0Expenses 2011: $3,049,7062011Expenses 2012: $3,138,9982012Revenue 2013: $3,335,885Expenses 2013: $3,152,198Net Income 2013: $183,6872013Revenue 2014: $6,793,561Expenses 2014: $2,733,052Net Income 2014: $4,060,5092014Revenue 2015: $3,233,140Expenses 2015: $2,132,087Net Income 2015: $1,101,0532015Revenue 2016: $3,090,700Expenses 2016: $2,292,591Net Income 2016: $798,1092016Revenue 2017: $2,744,671Expenses 2017: $2,116,490Net Income 2017: $628,1812017Revenue 2018: $2,898,930Expenses 2018: $2,168,431Net Income 2018: $730,4992018Revenue 2019: $3,037,412Expenses 2019: $2,262,335Net Income 2019: $775,0772019Revenue 2020: $2,904,574Expenses 2020: $2,260,562Net Income 2020: $644,0122020Revenue 2021: $6,980,758Expenses 2021: $2,100,094Net Income 2021: $4,880,6642021Revenue 2022: $2,481,924Expenses 2022: $2,127,786Net Income 2022: $354,1382022Revenue 2023: $10,645,177Expenses 2023: $3,069,013Net Income 2023: $7,576,1642023Revenue 2024: $6,594,006Expenses 2024: $2,952,892Net Income 2024: $3,641,1142024

Highlighted filing

2020

Revenue$2,904,574
Expenses$2,260,562
Net Income$644,012
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$2,904,574
Mission and Program Overview

Mission

To provide and promote adequate and affordable housing, economic opportunity and a safe living environment free from discrimination.

To provide affordable housing for the elderly and low-income families of Fort Collins, Colorado.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$7,828,523$8,007,974▲ $179,451
Land, Buildings, and Equipment, Net$5,221,455$5,382,676▲ $161,221
Savings and Temporary Cash Investments$5,024,010$4,458,844▼ $565,166
Accounts Receivable$29,891$47,120▲ $17,229
Cash and Non-Interest-Bearing Accounts$2,772$18,068▲ $15,296
Prepaid Expenses and Deferred Charges$118$171▲ $53
Total Assets$18,643,622$18,418,389▼ $225,233
Other Assets Total$536,853$503,536▼ $33,317
Liabilities
Accounts Payable and Accrued Expenses$51,722$414,311▲ $362,589
Escrow Account Liability$110,287$104,515▼ $5,772
Deferred Revenue$58,675$52,830▼ $5,845
Mortgage Notes Payable Secured by Investment Property$1,268,702$28,035▼ $1,240,667
Other Liabilities$3,290$23,740▲ $20,450
Total Liabilities$1,492,676$623,431▼ $869,245
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,150,946$17,794,958▲ $644,012
Total Net Assets Fund Balance$17,150,946$17,794,958▲ $644,012
Total Liabilities and Net Assets / Fund Balance$18,643,622$18,418,389▼ $225,233

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,749,000$10,279,921$13,028,921
Land$1,744,114-$1,744,114
Other Land Buildings$651,202-$651,202
Leasehold Improvements$238,360$150,560$388,920
Equipment$0$21,827$21,827
Investment Program Related Org$8,007,974--
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Jake ArnoldPresident
Lizette MillVice President
Mary DavisDirector
Anne NelsonDirector (as of Dec. 2020)
Karis SchneiderDirector (as of Oct. 2020)
Julie BrewenCEO
Duane HopkinsCFO
Anne HardingSecretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Housing CatalystManagement and Maintenance Services1715 W Mountain Ave, Fort Collins, CO 80521$661,027
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,891,946
Investment Income
$12,628
Other Revenue
$0
Change in Net Assets
$644,012

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,904,574
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,904,574
Total Revenue per Form 990
$2,904,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,049,112
Salaries, Compensation, and Employee Benefits$211,450
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$471,214$30,544-$501,758
Fees for Services Management$313,124$9,183-$322,307
Occupancy$193,052$5,114-$198,166
Fees for Services Accounting$170,167$4,991-$175,158
Other Salaries and Wages$163,309$4,790-$168,099
Insurance$95,899$1,545-$97,444
Interest$29,072$17,606-$46,678
Other Employee Benefits$42,116$1,235-$43,351
Office Expenses$29,617$869-$30,486
Information Technology$11,771$345-$12,116
Fees for Services Legal$3,673$108-$3,781
All Other Expenses$902$27-$929
Other Expenses$39,571$500-$500
Advertising$311$9-$320
Total Functional Expenses$2,163,208$97,354$0$2,260,562

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,260,562
Total Expenses per Audited Statements$2,260,562
Total Expenses per Form 990$2,260,562
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Due to Housing Catalyst$23,740
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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, Section A, line 3

“An unrelated management company, Housing Catalyst, performed administrative and management services including managing and maintaining accounting records and providing maintenance services for the Organization's property and housing units. For the years ended December 31, 2020, the Organization paid Housing Catalyst $487,065 solely for the management services.”

Form 990, Part VI, Section A, line 8B

“There are no committees that can act on behalf of the governing board.”

Form 990, Part VI, Section B, line 11B

“The members of the board are provided a copy of the Form 990 to review prior to filing.”

Form 990, Part VI, Section B, line 12C

“The Organization performs an annual review of its conflict of interest policy. All officers, trustees, and other employees are required annually to review the policy and disclose any potential conflicts that may be occurring or may potentially occur. The Villages' legal counsel and President of the Board of Directors shall review any potential conflicts to determine if one exists. Should a conflict exist the respective individual with the conflict shall refrain from further discussions and voting on the issue.”

Form 990, Part VI, Section B, line 15

“The Organization does not compensate its officers or Board of Directors. An unrelated management company, Housing Catalyst, performed administrative and management services and does not pay the CEO, CFO or board members specifically for the services provided to Villages, Ltd.”

Form 990, Part VI, Section C, line 19

“The Organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Villages Ltd
EIN
74-2177138
Phone
9704162910
Address
1715 W Mountain Avenue, Fort Collins, CO 80521

Signing Officer

Name
Cathy Mathis
Title
Current President
Phone
9704162910
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cathy Mathis
Formed
1980
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Eide Bailly LLP
Address
1730 Burnt Boat Loop Ste 100, Bismarck, ND 58503-0886
Preparer
Lisa Chaffee CPA
Phone
7012551091
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Lines 7 and 9:

“The salaries and benefits reported on the Part IX Functional Expenses represents the reimbursement of expenses by the filing organization to an unrelated management company. The unrelated management company acts as a common paymaster and files the respective W-2s.”

Financial Statement Notes

Part IV, Line 2B:

“The Organization holds funds on behalf of its tenants for security deposits.”

Part X, Line 2:

“The Organization will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. The Organization is no longer subject to Federal tax examinations by tax authorities for years before 2018 and state examinations for years before 2017.”

Raw XML AppendixShowing 400 of 477 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0869
IRS990/OfficeExpensesGrp/ProgramServicesAmt029617
IRS990/OfficeExpensesGrp/TotalAmt030486
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0536853
IRS990/OtherAssetsTotalGrp/EOYAmt0503536
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01235
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt042116
IRS990/OtherEmployeeBenefitsGrp/TotalAmt043351
IRS990/OtherExpensesGrp/Desc0Repairs and Maintenance
IRS990/OtherExpensesGrp/Desc1Bad Debt Expense
IRS990/OtherExpensesGrp/Desc2Other Financing Costs
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt020488
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1500
IRS990/OtherExpensesGrp/ProgramServicesAmt0599410
IRS990/OtherExpensesGrp/ProgramServicesAmt139571
IRS990/OtherExpensesGrp/TotalAmt0619898
IRS990/OtherExpensesGrp/TotalAmt139571
IRS990/OtherExpensesGrp/TotalAmt2500
IRS990/OtherLiabilitiesGrp/BOYAmt03290
IRS990/OtherLiabilitiesGrp/EOYAmt023740
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt04790
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0163309
IRS990/OtherSalariesAndWagesGrp/TotalAmt0168099
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0118
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0171
IRS990/PrincipalOfficerNm0Cathy Mathis
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/BusinessCd3531390
IRS990/ProgramServiceRevenueGrp/Desc0Rental Income
IRS990/ProgramServiceRevenueGrp/Desc1Section 8 Subsidy
IRS990/ProgramServiceRevenueGrp/Desc2Interest Income
IRS990/ProgramServiceRevenueGrp/Desc3Other Tenant Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01464726
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11091136
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2233337
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt391666
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01464726
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11091136
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2233337
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt391666
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt057140
IRS990/PYOtherExpensesAmt01994044
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02980272
IRS990/PYRevenuesLessExpensesAmt0775077
IRS990/PYSalariesCompEmpBnftPaidAmt0268291
IRS990/PYTotalExpensesAmt02262335
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03037412
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0644012
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt02891946
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05024010
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04458844
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt010000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt010000
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt012628
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt057140
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt041115
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt05541
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt03576
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0120000
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02891946
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02980272
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02857558
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt02735493
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03077122
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt014542391
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt012628
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt057140
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt041115
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt05541
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt03576
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0120000
IRS990ScheduleA/InvestmentIncomeCYPct00.00820
IRS990ScheduleA/InvestmentIncomePYPct00.00740
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99180
IRS990ScheduleA/PublicSupportPY509Pct00.99260
IRS990ScheduleA/PublicSupportTotal509Amt014552391
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02891946
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02980272
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02857558
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt02735493
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt03087122
IRS990ScheduleA/Total509Grp/TotalAmt014552391
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02904574
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt03037412
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02898673
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02741034
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03090698
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt014672391
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02749000
IRS990ScheduleD/BuildingsGrp/DepreciationAmt010279921
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt013028921
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt021827
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt021827
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02260562
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt08007974
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Notes Receivable
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt01744114
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01744114
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0238360
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0150560
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0388920
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0651202
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0651202
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023740
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Housing Catalyst
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02904574
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization holds funds on behalf of its tenants for security deposits.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Organization will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. The Organization is no longer subject to Federal tax examinations by tax authorities for years before 2018 and state examinations for years before 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05382676
IRS990ScheduleD/TotalBookValueProgramRltdAmt08007974
IRS990ScheduleD/TotalExpensesPerForm990Amt02260562
IRS990ScheduleD/TotalLiabilityAmt023740
IRS990ScheduleD/TotalRevenuePerForm990Amt02904574
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02904574
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02260562
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0An unrelated management company, Housing Catalyst, performed administrative and management services including managing and maintaining accounting records and providing maintenance services for the Organization's property and housing units. For the years ended December 31, 2020, the Organization paid Housing Catalyst $487,065 solely for the management services.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1There are no committees that can act on behalf of the governing board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The members of the board are provided a copy of the Form 990 to review prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization performs an annual review of its conflict of interest policy. All officers, trustees, and other employees are required annually to review the policy and disclose any potential conflicts that may be occurring or may potentially occur. The Villages' legal counsel and President of the Board of Directors shall review any potential conflicts to determine if one exists. Should a conflict exist the respective individual with the conflict shall refrain from further discussions and voting on the issue.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization does not compensate its officers or Board of Directors. An unrelated management company, Housing Catalyst, performed administrative and management services and does not pay the CEO, CFO or board members specifically for the services provided to Villages, Ltd.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Organization makes its governing documents, conflict of interest policy, and financial statements available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The salaries and benefits reported on the Part IX Functional Expenses represents the reimbursement of expenses by the filing organization to an unrelated management company. The unrelated management company acts as a common paymaster and files the respective W-2s.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Lines 7 and 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,418,389
Liabilities
$623,431
Net assets
$17,794,958
Revenue
$2,904,574
Expenses
$2,260,562
Net income
$644,012
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.7$0.28$37.4$6.59$2.95$3.64
2023Detailed filing. Detailed filing data is available for this year.$31.1$0.47$30.6$10.6$3.07$7.58
2022Detailed filing. Detailed filing data is available for this year.$23.9$0.82$23.0$2.48$2.13$0.35
2021Detailed filing. Detailed filing data is available for this year.$22.9$0.20$22.7$6.98$2.10$4.88
2020Detailed filing. Detailed filing data is available for this year.$18.4$0.62$17.8$2.90$2.26$0.64
2019Detailed filing. Detailed filing data is available for this year.$18.6$1.49$17.2$3.04$2.26$0.78
2018Detailed filing. Detailed filing data is available for this year.$19.3$1.86$17.4$2.90$2.17$0.73
2017Detailed filing. Detailed filing data is available for this year.$18.9$2.18$16.7$2.74$2.12$0.63
2016Detailed filing. Detailed filing data is available for this year.$18.6$2.49$16.1$3.09$2.29$0.80
2015Summary only. Only limited summary data is available for this year.$18.2$2.89$15.3$3.23$2.13$1.10
2014Detailed filing. Detailed filing data is available for this year.$17.3$3.13$14.2$6.79$2.73$4.06
2013Detailed filing. Detailed filing data is available for this year.$16.8$6.66$10.1$3.34$3.15$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.0$7.09$9.96$3.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.1$7.38$8.74$3.05