Volunteers Of America Inc
- Assets
- $15.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- New Orleans, LA
- Founding
- 05/1965
- Data as of
- 06/2023
- EIN
- 83-2734003
Organization Overview
Volunteers Of America Inc is located in New Orleans, LA. The organization was established in 1965. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Volunteers Of America Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Volunteers Of America Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $1.5m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO PROVIDE HOUSING RELATED SERVICES TO LOW (CONT'D ON SCHEDULE O) AND MODERATE INCOME PERSONS WHO ARE IN NEED OF AFFORDABLE HOUSING OPTIONS. THIS INCLUDES THE OWNERSHIP, OPERATION, AND DEVELOPMENT OF THE AFOREMENTIONED LOCATION WITH THE PROVISION OF HOUSING RELATED SERVICES ON A NONPROFIT BASIS.
Describe the Organization's Program Activity:
THIS PROJECT WAS CREATED TO REHABILITATE A PRIOR UNUSED HISTORICAL PROPERTY INTO RENTAL OPTIONS IN THE GREATER NEW ORLEANS AREA THAT IS AFFORDABLE TO LOW- AND MODERATE-INCOME FAMILIES. NEW MARKET TAX CREDITS WERE USED ALONG WITH STATE AND FEDERAL HISTORIC TAX CREDITS TO CREATE A TOTAL OF 52 UNITS THAT PROVIDE A WONDERFUL HOME FOR MIXED-INCOME TENANTS. BOTH THE TAX CREDITS AND THEIR ASSOCIATED COMPLIANCE PERIODS HAVE SINCE EXPIRED AND THE PROPERTY IS RUN BY THE RENAISSANCE NEIGHBORHOOD DEVELOPMENT CORPORATION (RNDC).THE PROJECT NOW PROVIDES DECENT HOUSING THAT IS AFFORDABLE TO LOW AND MODERATE INCOME PERSONS AND THE ORGANIZATION CONTINUES TO ACQUIRE, OWN, DEVELOP, HOLD, SELL, LEASE, TRANSFER, EXCHANGE(CONT'D ON SCHEDULE O), OPERATE,AND MANAGE AFFORDABLE HOUSING PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Voris N Vigee President/ceo | OfficerTrustee | 1 | $0 |
Vanessa Levine Rndc Executive Vice President | OfficerTrustee | 4 | $0 |
Gary Zapata CFO | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,255,785 |
| Investment income | $115 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,276,284 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,820 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $103,745 |
| Advertising and promotion | $0 |
| Office expenses | $7,115 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $168,781 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $467 |
| Interest | $195,734 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $542,884 |
| Insurance | $215,508 |
| All other expenses | $53 |
| Total functional expenses | $1,459,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $386,782 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $239,216 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $132,010 |
| Net Land, buildings, and equipment | $14,026,408 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $364,428 |
| Total assets | $15,148,844 |
| Accounts payable and accrued expenses | $165,452 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,249,172 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $96,324 |
| Total liabilities | $4,510,948 |
| Net assets without donor restrictions | $10,637,896 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,148,844 |