AVERY POINT INC

EIN: 922254866 501(c)(3) Housing & Shelter

RICHMOND, VA

Total Revenue
$8,840,387
Total Expenses
$11,143,167
Total Assets
$126,607,162
Net Assets
$-2,314,026
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2022
Legal Domicile
MD
Principal Officer
IAN BROWN
Phone
8002603100
Tax Period
2023-01-01 to 2023-12-31

AVERY POINT INC, founded in 2022, is a community nonprofit in the Housing & Shelter sector that reported $8.8M in total revenue in fiscal year 2023. Expenses of $11.1M exceeded revenue, resulting in a 26% operating deficit.

Mission

MISSION STATEMENT - HOME IS BELONGING, PEACE OF MIND, LOVE AND ACCEPTANCE. WELCOME HOME!VISION STATEMENT - AVERY POINT, INC. CELEBRATES AGING! GROUNDED IN INCLUSION, INNOVATION AND ADVOCACY, WE CREATE UNPARALLELED VALUE AND OPPORTUNITIES FOR EVERY LIFE WE TOUCH. AS PART OF THE NATIONAL SENIOR COMMUNITIES ENTERPRISE, WE LEVERAGE OUR STRONG FINANCIAL FOUNDATION AND GOVERNANCE FOR THE BENEFIT OF SENIORS AND THOSE WHO SUPPORT THEM.

Program Service Accomplishments

Program 1
Expenses: $8,444,239 Revenue: $8,552,285

AVERY POINT PROVIDES SERVICES NEEDED BY SENIOR RESIDENTS, WHO RESIDE IN 323 INDEPENDENT LIVING UNITS. THE SERVICES WE PROVIDE TO OUR RESIDENTS INCLUDE, BUT ARE NOT LIMITED TO HOUSING, FOOD, MEDICAL...

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AVERY POINT PROVIDES SERVICES NEEDED BY SENIOR RESIDENTS, WHO RESIDE IN 323 INDEPENDENT LIVING UNITS. THE SERVICES WE PROVIDE TO OUR RESIDENTS INCLUDE, BUT ARE NOT LIMITED TO HOUSING, FOOD, MEDICAL, SECURITY AND MAINTENANCE SERVICES, RECREATIONAL AND PASTORAL ACTIVITIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $135,830
Program Service Revenue $8,552,285
Investment Income $71,349
Other Revenue $80,923
TOTAL REVENUE $8,840,387

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,890,917
Fundraising Expenses $0
Program Expenses $8,444,239
Other Expenses $7,252,250
TOTAL EXPENSES $11,143,167

Year-over-Year Comparison

2023 2022 Change
Revenue $8,840,387 N/A N/A
Expenses $11,143,167 N/A N/A
Net Income $-2,302,780 N/A N/A
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
11
Independent Members
7
Employees
185
Volunteers
88

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
10
$987,492
Total Directors
11
$1,295,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
IAN L BROWN CHAIR & PRESIDENT (BEG 4/1/23) 0.30
Officer Director
$0 $0 $65,000
STEPHANIE L REEL VICE CHAIR & VICE PRESIDENT 0.10
Officer Director
$0 $0 $150,000
MARY D COLINS SECRETARY 0.20
Officer Director
$0 $0 $150,000
EILEEN G ERSTAD TREASURER 0.20
Officer Director
$0 $0 $167,500
BARBARA C BISGAIER DIRECTOR 0.10
Director
$0 $0 $110,000
PATRICIA M BROWN DIRECTOR 0.10
Director
$0 $0 $87,500
REV DR ZINA JACQUE DIRECTOR 0.10
Director
$0 $0 $215,000
MONTY C LEONARD DIRECTOR 0.10
Director
$0 $0 $87,500
PAMELA D PAULK DIRECTOR 0.10
Director
$0 $0 $87,500
MICHAEL W ROSKIEWICZ DIRECTOR 0.10
Director
$0 $0 $110,000
RUSSELL SHARP DIRECTOR (BEG 4/1/23) 0.10
Director
$0 $0 $65,000
JOHN HALL ASSISTANT TREASURER 0.50
Officer
$0 $0 $0
CHRIS RATHMANN ASSISTANT TREASURER 0.50
Officer
$0 $0 $0
NEAL GANTERT ASSISTANT TREASURER 0.50
Officer
$0 $0 $0
MARK EMBLEY ASSISTANT TREASURER 0.50
Officer
$0 $0 $0
TODD DELANEY EXECUTIVE DIRECTOR 40.00
Officer
$293,961 $22,862 $316,823
LUKE MCKINLEY DIRECTOR, FINANCE 40.00
Officer
$132,452 $5,717 $138,169
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
2024 No data No data No data No data
2023 $8,840,387 $11,143,167 $126,607,162 $-2,302,780
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