BAY AGING APARTMENTS KILMARNOCK INC

EIN: 752985080 501(c)(3) Housing & Shelter

URBANNA, VA

Total Revenue
$326,843
Total Expenses
$406,864
Total Assets
$2,614,975
Net Assets
$2,573,432
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
VA
Principal Officer
KATHY E VESLEY
Phone
8047582386
Tax Period
2024-04-01 to 2025-03-31

BAY AGING APARTMENTS KILMARNOCK INC, founded in 2004, is a small nonprofit in the Housing & Shelter sector that reported $327K in total revenue in fiscal year 2024. Expenses of $407K exceeded revenue, resulting in a 24% 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 USEFULNESS IN LONGER LIVING, THE CHARGES FOR SUCH FACILITIES AND SERVICES TO BE PREDICATED UPON THE PROVISION, MAINTENANCE AND OPERATION THEREOF ON A NONPROFIT BASIS.

Program Service Accomplishments

Program 1
Expenses: $273,666 Revenue: $326,282

THE ORGANIZATION HAS 41 APARTMENTS FOR RENT TO SENIOR CITIZENS TO ENSURE THAT THESE CITIZENS CONTINUE LIVING HEALTHY, INDEPENDENT LIVES. RENTAL ASSISTANCE AND SUPPORT SERVICES ARE AVAILABLE, SUCH AS...

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THE ORGANIZATION HAS 41 APARTMENTS FOR RENT TO SENIOR CITIZENS TO ENSURE THAT THESE CITIZENS CONTINUE LIVING HEALTHY, INDEPENDENT LIVES. RENTAL ASSISTANCE AND SUPPORT SERVICES ARE AVAILABLE, SUCH AS HOUSEKEEPING, TRANSPORTATION, MEAL SERVICES, PERSONAL CARE, MEDICATION REMINDERS, AND RECREATION AND SOCIALIZATION SERVICES.

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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 $326,282
Investment Income $561
Other Revenue $0
TOTAL REVENUE $326,843

Expense Breakdown

Grants Paid $0
Salaries & Benefits $33,464
Fundraising Expenses $0
Program Expenses $273,666
Other Expenses $373,400
TOTAL EXPENSES $406,864

Year-over-Year Comparison

2024 2023 Change
Revenue $326,843 $307,440 +0.1%
Expenses $406,864 $491,819 -0.2%
Net Income $-80,021 $-184,379 -0.6%
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
N/A

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
$267,673
Total Directors
19
$267,673
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHY E VESLEY PRESIDENT 1.00
Officer Director
$248,168 $19,505 $267,673
ROBERT WILBANKS VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
LYNDA SMITH TREASURER 1.00
Officer Director
$0 $0 $0
STANLEY CLARKE SECRETARY 1.00
Officer Director
$0 $0 $0
JAMES N CARTER DIRECTOR 1.00
Director
$0 $0 $0
KAREN LEWIS DIRECTOR 1.00
Director
$0 $0 $0
RON SAUNDERS DIRECTOR 1.00
Director
$0 $0 $0
CHARLES ADKINS ESQ DIRECTOR 1.00
Director
$0 $0 $0
JAMES DUDLEY 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
REV MARIA HARRIS DIRECTOR 1.00
Director
$0 $0 $0
BELINDA JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
BILL DOYLE DIRECTOR 1.00
Director
$0 $0 $0
VERA LEE DIRECTOR 1.00
Director
$0 $0 $0
BARRY GROSS DIRECTOR 1.00
Director
$0 $0 $0
DONNA COGSWELL DIRECTOR - STARTED 10/24 1.00
Director
$0 $0 $0
BEN OWEN DIRECTOR - STARTED 10/24 1.00
Director
$0 $0 $0
JEANNE HOCKADAY DIRECTOR - STARTED 10/24 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 $326,843 $406,864 $2,614,975 $-80,021
2024 $307,440 $491,819 $2,710,533 $-184,379
2023 $294,776 $379,928 $2,880,001 $-85,152
2022 $282,411 $392,709 $2,964,883 $-110,298
2021 $282,848 $330,891 $3,069,690 $-48,043
2020 $264,141 $357,380 $3,116,096 $-93,239
2019 $248,222 $314,686 $3,208,845 $-66,464
2018 $236,099 $335,337 $3,288,882 $-99,238
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