BAY AGING APARTMENTS GLOUCESTER INC

EIN: 541933696 501(c)(3) Housing & Shelter

URBANNA, VA

Total Revenue
$468,293
Total Expenses
$576,107
Total Assets
$1,934,357
Net Assets
$1,853,697
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
VA
Principal Officer
KATHY E VESLEY
Phone
8047582386
Tax Period
2024-10-01 to 2025-09-30

BAY AGING APARTMENTS GLOUCESTER INC, founded in 2000, is a small nonprofit in the Housing & Shelter sector that reported $468K in total revenue in fiscal year 2024. Expenses of $576K exceeded revenue, resulting in a 23% operating deficit.

Mission

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

Program Service Accomplishments

Program 1
Expenses: $394,981 Revenue: $468,252

THE ORGANIZATION HAS 64 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 64 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 $468,252
Investment Income $41
Other Revenue $0
TOTAL REVENUE $468,293

Expense Breakdown

Grants Paid $0
Salaries & Benefits $59,986
Fundraising Expenses $0
Program Expenses $394,981
Other Expenses $516,121
TOTAL EXPENSES $576,107

Year-over-Year Comparison

2024 2023 Change
Revenue $468,293 $437,000 +0.1%
Expenses $576,107 $518,868 +0.1%
Net Income $-107,814 $-81,868 +0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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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
JEANNE HOCKADAY DIRECTOR 1.00
Director
$0 $0 $0
JAMES N CARTER DIRECTOR 1.00
Director
$0 $0 $0
BRUCE CRAIG DIRECTOR 1.00
Director
$0 $0 $0
BILL DOYLE DIRECTOR 1.00
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
BEN OWEN DIRECTOR 1.00
Director
$0 $0 $0
DONNA COGSWELL DIRECTOR 1.00
Director
$0 $0 $0
LYNDA SMITH TREASURER 1.00
Officer 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 GROSS DIRECTOR 1.00
Director
$0 $0 $0
KATHY E VESLEY PRESIDENT 2.00
Officer Director
$0 $19,248 $267,416
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 $468,293 $576,107 $1,934,357 $-107,814
2024 $437,000 $518,868 $2,030,153 $-81,868
2023 $431,712 $487,571 $2,112,666 $-55,859
2022 $424,147 $475,778 $2,152,059 $-51,631
2021 $404,965 $434,236 $2,231,973 $-29,271
2020 $384,520 $443,698 $2,254,319 $-59,178
2019 $341,838 $444,557 $2,323,383 $-102,719
2018 $317,057 $390,691 $2,415,651 $-73,634
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