BAY AGING APARTMENTS COLONIAL BEACH INC

EIN: 541788168 501(c)(3) Housing & Shelter

URBANNA, VA

Total Revenue
$290,382
Total Expenses
$321,213
Total Assets
$828,956
Net Assets
$791,446
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
VA
Principal Officer
KATHY VESLEY
Phone
8047582386
Tax Period
2024-10-01 to 2025-09-30

BAY AGING APARTMENTS COLONIAL BEACH INC, founded in 1996, is a small nonprofit in the Housing & Shelter sector that reported $290K in total revenue in fiscal year 2024. Expenses of $321K exceeded revenue, resulting in a 11% operating deficit.

Mission

TO PROVIDE LOW INCOME ELDERLY PERSONS HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS AND USEFULNESS IN LONGER LIVING. THE CHARGES FOR SUCH FACILITIES AND SERVICES ARE PREDICATED UPON THE PROVISION, MAINTENANCE AND OPERATION OF THE FACILITIES AND SERVICES ON A NONPROFIT BASIS.

Program Service Accomplishments

Program 1
Expenses: $216,619 Revenue: $290,367

THE ORGANIZATION HAS 33 APARTMENTS FOR RENT TO SENIOR CITIZENS TO ENSURE THAT THESE CITIZENS CONTINUE LIVING HEALTHY, INDEPENDENT LIVES. RENTAL ASSISTANCE AND SUPPORT SERVICES, SUCH AS HOUSEKEEPING...

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THE ORGANIZATION HAS 33 APARTMENTS FOR RENT TO SENIOR CITIZENS TO ENSURE THAT THESE CITIZENS CONTINUE LIVING HEALTHY, INDEPENDENT LIVES. RENTAL ASSISTANCE AND SUPPORT SERVICES, SUCH AS HOUSEKEEPING, TRANSPORTATION, MEAL SERVICES, PERSONAL CARE, MEDICATION REMINDERS, RECREATION AND SOCIALIZATION, ARE AVAILABLE TO THESE CITIZENS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $290,367
Investment Income $15
Other Revenue $0
TOTAL REVENUE $290,382

Expense Breakdown

Grants Paid $0
Salaries & Benefits $37,738
Fundraising Expenses $0
Program Expenses $216,619
Other Expenses $283,475
TOTAL EXPENSES $321,213

Year-over-Year Comparison

2024 2023 Change
Revenue $290,382 $280,508 +0.0%
Expenses $321,213 $313,202 +0.0%
Net Income $-30,831 $-32,694 -0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
15
Employees
N/A
Volunteers
15

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$267,416
Total Directors
16
$267,416
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES N CARTER DIRECTOR 1.00
Director
$0 $0 $0
BILL DOYLE DIRECTOR 1.00
Director
$0 $0 $0
LYNDA SMITH TREASURER 1.00
Officer Director
$0 $0 $0
JAMES DUDLEY DIRECTOR 1.00
Director
$0 $0 $0
REV MARIA HARRIS DIRECTOR 1.00
Director
$0 $0 $0
BELINDA JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
BRUCE CRAIG DIRECTOR 1.00
Director
$0 $0 $0
CYNTHIA TALCOTT DIRECTOR 1.00
Director
$0 $0 $0
ROBERT WILBANKS VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
STANLEY CLARKE SECRETARY 1.00
Officer Director
$0 $0 $0
VERA LEE DIRECTOR 1.00
Director
$0 $0 $0
BARRY L GROSS MD DIRECTOR 1.00
Director
$0 $0 $0
KATHY E VESLEY PRESIDENT 2.00
Officer Director
$0 $19,248 $267,416
DONNA COGSWELL DIRECTOR 1.00
Director
$0 $0 $0
JEANNE HOCKADAY DIRECTOR 1.00
Director
$0 $0 $0
BEN OWEN DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $290,382 $321,213 $828,956 $-30,831
2024 $280,508 $313,202 $860,154 $-32,694
2023 $268,669 $301,092 $887,070 $-32,423
2022 $257,665 $281,858 $924,028 $-24,193
2021 $251,571 $266,798 $942,696 $-15,227
2020 $242,958 $298,357 $973,806 $-55,399
2019 $238,012 $265,304 $1,017,171 $-27,292
2018 $230,217 $251,732 $1,048,837 $-21,515
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