Civic Intelligence

R S & V P Property One Inc.

990 • Fiscal year 2022 • EIN 85-0465107

Oct 01, 2021 to Sep 30, 2022 • Filed on Jan 28, 2023

1001 Valencia Dr SEAlbuquerque, NM 87108

(505) 452-1553

Siviq Scores

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

Liabilities / Assets

87th percentile

1.79x

Higher debt load relative to assets than 87% of similar nonprofits.

2022 filings • NTEE L • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

77th percentile

8.35x

Higher debt load relative to revenue than 77% of similar nonprofits.

2022 filings • NTEE L • $500k-$1M nonprofits • Source year 2022

Net Margin

29th percentile

-24%

Higher net margin than 29% of similar nonprofits.

2022 filings • NTEE L • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

2022 filings • NTEE L • $500k-$1M nonprofits • Source year 2022

Asset Growth

27th percentile

-4.4%

Faster asset growth than 27% of similar nonprofits.

2022 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

83rd percentile

15%

Faster revenue growth than 83% of similar nonprofits.

2022 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$841,141

Down $38,881 (-4.4%) from 2021

Net Assets

Down

-$661,891

Down $42,978 (-6.9%) from 2021

Liabilities

Up

$1,503,032

Up $4,097 (+0.3%) from 2021

Revenue

Up

$180,003

Up $23,898 (+15%) from 2021

Expenses

Up

$222,981

Up $26,457 (+13%) from 2021

Net Income

Down

-$42,978

Down $2,559 (-6.3%) from 2021

Historical Trend

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2016: $1,053,570Liabilities 2016: $1,495,730Net Assets 2016: -$442,1602016Assets 2017: $1,020,489Liabilities 2017: $1,496,422Net Assets 2017: -$475,9332017Assets 2018: $987,305Liabilities 2018: $1,507,893Net Assets 2018: -$520,5882018Assets 2019: $949,889Liabilities 2019: $1,506,830Net Assets 2019: -$556,9412019Assets 2020: $920,025Liabilities 2020: $1,498,519Net Assets 2020: -$578,4942020Assets 2021: $880,022Liabilities 2021: $1,498,935Net Assets 2021: -$618,9132021Assets 2022: $841,141Liabilities 2022: $1,503,032Net Assets 2022: -$661,8912022Assets 2023: $800,014Liabilities 2023: $1,508,052Net Assets 2023: -$708,0382023Assets 2024: $750,349Liabilities 2024: $1,541,412Net Assets 2024: -$791,0632024

Highlighted filing

2022

Assets$841,141
Liabilities$1,503,032
Net Assets-$661,891

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2016: $130,547Expenses 2016: $171,821Net Income 2016: -$41,2742016Revenue 2017: $141,467Expenses 2017: $175,240Net Income 2017: -$33,7732017Revenue 2018: $138,679Expenses 2018: $183,334Net Income 2018: -$44,6552018Revenue 2019: $144,569Expenses 2019: $180,922Net Income 2019: -$36,3532019Revenue 2020: $157,354Expenses 2020: $178,907Net Income 2020: -$21,5532020Revenue 2021: $156,105Expenses 2021: $196,524Net Income 2021: -$40,4192021Revenue 2022: $180,003Expenses 2022: $222,981Net Income 2022: -$42,9782022Revenue 2023: $181,270Expenses 2023: $227,416Net Income 2023: -$46,1462023Revenue 2024: $181,341Expenses 2024: $264,366Net Income 2024: -$83,0252024

Highlighted filing

2022

Revenue$180,003
Expenses$222,981
Net Income-$42,978
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jan 28, 2023
Return Version
2021v4.2
Gross Receipts
$180,003
Mission and Program Overview

Mission

To provide affordable housing for low income disabled persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$845,222$808,287▼ $36,935
Cash and Non-Interest-Bearing Accounts$636$1,442▲ $806
Accounts Receivable$243$1,411▲ $1,168
Total Assets$880,022$841,141▼ $38,881
Other Assets Total$33,921$30,001▼ $3,920
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,484,427$1,484,427→ $0
Accounts Payable and Accrued Expenses$10,123$13,045▲ $2,922
Other Liabilities$3,809$4,298▲ $489
Deferred Revenue$576$1,262▲ $686
Total Liabilities$1,498,935$1,503,032▲ $4,097
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-618,913$-661,891▼ $42,978
Total Net Assets Fund Balance$-618,913$-661,891▼ $42,978
Total Liabilities and Net Assets / Fund Balance$880,022$841,141▼ $38,881

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$751,537$703,554$1,455,091
Land$56,750-$56,750
Equipment-$7,745$7,745
Other Assets Org$4,504--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kara SummersPresident
Allen DrumDirector
Michelle DrumDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$179,994
Investment Income
$9
Other Revenue
$0
Change in Net Assets
$-42,978

Audited Revenue Reconciliation

Revenue per Audited Statements
$180,003
Total Revenue per Audited Statements
$180,003
Total Revenue per Form 990
$180,003
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$178,832
Salaries, Compensation, and Employee Benefits$44,149
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$36,935--$36,935
Other Salaries and Wages$36,037--$36,037
All Other Expenses$31,867--$31,867
Office Expenses$15,892--$15,892
Fees for Services Management$13,417--$13,417
Fees for Services Accounting$12,600--$12,600
Insurance$8,123--$8,123
Other Employee Benefits$5,439--$5,439
Other Expenses$5,184--$5,184
Payroll Taxes$2,673--$2,673
Fees for Services Legal$774--$774
Advertising$595--$595
Conferences and Meetings$217--$217
Total Functional Expenses$222,981$0$0$222,981

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$222,981
Total Expenses per Audited Statements$222,981
Total Expenses per Form 990$222,981
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
High Desert HousingOwnerManagement FeeNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit$4,298
Governance and Compliance

Governance Checklist

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

Governance Explanations

Officer directors etc family relationship Part VI line 2

Allen drum kara summers treasurer president father and daughter allen drum michelle drum treasurer secretary father and daughter

Management duties delegation Part VI line 3

Management is provided by managing agent under a contract approved by us department of hud

Form 990 governing body review Part VI line 11

No review was or will be conducted

Conflict of interest policy compliance Part VI line 12C

Conflict of interest are discussed at board meetings

Governing documents etc available to public Part VI line 19

A copy of the tax return is provided free of charge upon request

Filing and Contact Details

Filer

Filer Name
Rs & Vp Property One
EIN
85-0465107
Address
1001 VALENCIA DR SE, Albuquerque, NM 87108
Doing Business As
Gene Gilbert Manor

Signing Officer

Name
Kara J Summers
Title
President
Phone
5054521553
Signed
2023-01-28
Discuss with paid preparer
No

Organization Details

Principal Officer
Kara Summers
Formed
1998
Legal Domicile
Nm
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
Bloom & Bloom Llp
Address
356 MILLBURN AVE, Millburn, NJ 07041
Preparer
Richard Bloom
Phone
9739120300
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

ROUNDING ADJ

List of other expenses Part IX line 24E

Contracts, super rent free , security payroll and misc operating expenses

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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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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01455091
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07745
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07745
IRS990ScheduleD/ExpensesSubtotalAmt0222981
IRS990ScheduleD/LandGrp/BookValueAmt056750
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt056750
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03848
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt121649
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt24504
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESIDUAL RESERVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04298
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT
IRS990ScheduleD/RevenueSubtotalAmt0180003
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0808287
IRS990ScheduleD/TotalBookValueOtherAssetsAmt030001
IRS990ScheduleD/TotalExpensesPerForm990Amt0222981
IRS990ScheduleD/TotalLiabilityAmt04298
IRS990ScheduleD/TotalRevenuePerForm990Amt0180003
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0180003
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0222981
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0HIGH DESERT HOUSING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MANAGEMENT FEE
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALLEN DRUM KARA SUMMERS TREASURER PRESIDENT FATHER AND DAUGHTER ALLEN DRUM MICHELLE DRUM TREASURER SECRETARY FATHER AND DAUGHTER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT IS PROVIDED BY MANAGING AGENT UNDER A CONTRACT APPROVED BY US DEPARTMENT OF HUD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST ARE DISCUSSED AT BOARD MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF THE TAX RETURN IS PROVIDED FREE OF CHARGE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ROUNDING ADJ
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRACTS, SUPER RENT FREE , SECURITY PAYROLL AND MISC OPERATING EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Management duties delegation Part VI line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6List of other expenses Part IX line 24e
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd2false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd3false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd4false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd3N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd4N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd5N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd6N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0AGUA AZUL HOUSING CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1WILLOW TERRACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2CASA DE CORAZONES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3CHALLENGE GROUP HOME ONE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4CHALLENGE GROUP HOME TWO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5SANTA FE SERVICES FOR THE HANDICAPP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6GATEWAY ESTATES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt7SAN VICENTE DE LA CIENEGA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0850481429
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1742835142
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2300156224
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN3850320832
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN4850349781
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN5850319497
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN6850436521
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN7850421254
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt3501 c 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt4501 C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt5501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt6501 C 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt7501 C 3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd4NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd5NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd6NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd7NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0AFFORDHSG
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1AFFORD HSG
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2AFFORD HSG
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3AFFORD HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt4AFFORD HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt5AFFORDABLE HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt6AFFORDABLE HOUSIGN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt7AFFORDABLE HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt010
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt110
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt210
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt310
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt410
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt510
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt610
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 80009
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1PO BOX 80009
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2PO BOX 80009
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt31888 CALLE QUEDO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt41868 VISTA DEL SUR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt5631 AGUA FRIA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt61600 S LEAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt71532 E 32ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Albuquerque
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Albuquerque
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2Albuquerque
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm3Santa Fe
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm4Santa Fe
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm5Santa Fe
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm6DEMING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm7Silver City
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd2NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd3NM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd4NM

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