Virginia Place Apartments Inc
Virginia Place Apartments Inc faces persistent operational deficits and growing liabilities, raising long-term solvency concerns.
EIN: 200214143 · Shreveport, LA · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $123K |
| Total Expenses | $153K |
| Program Spending | 80% |
| Net Assets | $-429,432 |
| Transparency Score | 40/100 |
Is Virginia Place Apartments Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Virginia Place Apartments Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Virginia Place Apartments Inc
Virginia Place Apartments Inc (EIN: 200214143) is a nonprofit organization based in Shreveport, LA, classified under NTEE code L20. The organization reported total revenue of $123K and total assets of $546K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Virginia Place Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Virginia Place Apartments Inc is a small nonprofit that has been operating for 22 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $90K |
| Total Expenses | $153K |
| Surplus / Deficit | $-62,339 |
| Total Assets | $583K |
| Total Liabilities | $1.0M |
| Net Assets | $-429,432 |
| Operating Margin | -69.1% |
| Debt-to-Asset Ratio | 173.6% |
| Months of Reserves | 45.9 months |
Financial Health Grade: C
In 2024, Virginia Place Apartments Inc reported a deficit of $62K with expenses exceeding revenue, holds 45.9 months of operating reserves (strong position), has a debt-to-asset ratio of 173.6% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Virginia Place Apartments Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -16.1% | +8.0% | -2.4% |
| 2023 | -18.4% | -10.9% | -12.7% |
| 2022 | +20.8% | +37.8% | +5.3% |
| 2021 | -1.0% | -6.9% | +0.3% |
| 2020 | +6.9% | +4.9% | -7.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Virginia Place Apartments Inc with a Mission Score of 40 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Virginia Place Apartments Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $62K, with expenses exceeding revenue.
- Debt-to-asset ratio: 173.6%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, suggesting that officers are either unpaid volunteers or their compensation is categorized under other expense lines, which would require further clarification for a complete financial picture.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Virginia Place Apartments Inc's IRS 990 filings:
- Consistent operational deficits (expenses exceed revenue in all reported periods)
- Declining asset base over the past decade (from $759,439 in 201506 to $583,438 in 202406)
- Liabilities significantly exceed assets, indicating negative net assets and potential solvency issues (e.g., $1,012,870 liabilities vs. $583,438 assets in 202406)
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency assessment
Strengths
The following positive indicators were identified for Virginia Place Apartments Inc:
- Consistent IRS 990 filing history (14 filings), demonstrating compliance with reporting requirements
- No reported officer compensation, suggesting a volunteer-driven leadership or efficient use of funds in this area
Frequently Asked Questions about Virginia Place Apartments Inc
Is Virginia Place Apartments Inc a legitimate charity?
Virginia Place Apartments Inc (EIN: 200214143) is a registered tax-exempt nonprofit based in Louisiana. Our AI analysis gives it a Mission Score of 40/100. It has 14 years of IRS 990 filings on record. Total revenue: $123K. 4 red flags identified. 2 strengths noted. Financial health grade: C.
How does Virginia Place Apartments Inc spend its money?
Virginia Place Apartments Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Virginia Place Apartments Inc tax-deductible?
Virginia Place Apartments Inc is registered as a tax-exempt nonprofit (EIN: 200214143). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Virginia Place Apartments Inc's spending goes to programs?
Virginia Place Apartments Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Virginia Place Apartments Inc compare to similar nonprofits?
With a transparency score of 40/100 (Fair), Virginia Place Apartments Inc is near average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Virginia Place Apartments Inc located?
Virginia Place Apartments Inc is headquartered in Shreveport, Louisiana and files with the IRS under EIN 200214143. It is classified under NTEE code L20.
How many years of IRS 990 filings does Virginia Place Apartments Inc have?
Virginia Place Apartments Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $123K in total revenue.
Is Virginia Place Apartments Inc financially sustainable?
Based on the consistent operational deficits (e.g., $90,168 revenue vs. $152,507 expenses in 202406) and the growing liabilities exceeding assets ($1,012,870 liabilities vs. $583,438 assets in 202406), the organization's current financial model appears unsustainable without significant external funding or operational changes.
What is the primary source of funding for Virginia Place Apartments Inc, given its consistent revenue shortfalls?
The provided data only shows 'Revenue' and 'Expenses'. Given the consistent deficits, it's highly probable that the organization relies on grants, loans, or other forms of financial support not fully detailed in the 'Revenue' line, or it is drawing down on reserves, though assets are also declining.
Why are liabilities consistently higher than assets?
The consistent and growing disparity between liabilities and assets (e.g., $1,012,870 liabilities vs. $583,438 assets in 202406) indicates that the organization has negative net assets, meaning its debts outweigh its owned resources. This could be due to significant mortgages, loans, or other long-term obligations related to its housing operations.
Filing History
IRS 990 filing history for Virginia Place Apartments Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Virginia Place Apartments Inc's revenue has grown by 24.7%, moving from $72K to $90K. Total assets decreased by 32.9% over the same period, from $869K to $583K. Total functional expenses rose by 82.8%, from $83K to $153K. In its most recent filing year (2024), Virginia Place Apartments Inc reported a deficit of $62K, with expenses exceeding revenue. The organization holds $1.0M in liabilities against $583K in assets (debt-to-asset ratio: 173.6%), resulting in net assets of $-429,432.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $90K | $153K | $583K | $1.0M | — | — |
| 2023 | $107K | $141K | $598K | $965K | — | — |
| 2022 | $132K | $159K | $685K | $1.0M | — | View 990 |
| 2021 | $109K | $115K | $650K | $957K | — | — |
| 2020 | $110K | $124K | $649K | $949K | — | View 990 |
| 2019 | $103K | $118K | $702K | $989K | — | View 990 |
| 2018 | $84K | $103K | $688K | $960K | — | View 990 |
| 2017 | $64K | $107K | $703K | $956K | — | View 990 |
| 2016 | $67K | $111K | $728K | $937K | — | View 990 |
| 2015 | $63K | $97K | $759K | $925K | — | View 990 |
| 2014 | $67K | $136K | $776K | $907K | — | View 990 |
| 2013 | $66K | $77K | $845K | $907K | — | View 990 |
| 2012 | $69K | $81K | $858K | $908K | — | View 990 |
| 2011 | $72K | $83K | $869K | $908K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $90K, expenses of $153K, and assets of $583K (revenue -16.1% year-over-year).
- 2023: Revenue of $107K, expenses of $141K, and assets of $598K (revenue -18.4% year-over-year).
- 2022: Revenue of $132K, expenses of $159K, and assets of $685K (revenue +20.8% year-over-year).
- 2021: Revenue of $109K, expenses of $115K, and assets of $650K (revenue -1.0% year-over-year).
- 2020: Revenue of $110K, expenses of $124K, and assets of $649K (revenue +6.9% year-over-year).
- 2019: Revenue of $103K, expenses of $118K, and assets of $702K (revenue +22.6% year-over-year).
- 2018: Revenue of $84K, expenses of $103K, and assets of $688K (revenue +32.1% year-over-year).
- 2017: Revenue of $64K, expenses of $107K, and assets of $703K (revenue -5.7% year-over-year).
- 2016: Revenue of $67K, expenses of $111K, and assets of $728K (revenue +7.1% year-over-year).
- 2015: Revenue of $63K, expenses of $97K, and assets of $759K (revenue -5.6% year-over-year).
- 2014: Revenue of $67K, expenses of $136K, and assets of $776K (revenue +1.6% year-over-year).
- 2013: Revenue of $66K, expenses of $77K, and assets of $845K (revenue -4.5% year-over-year).
- 2012: Revenue of $69K, expenses of $81K, and assets of $858K (revenue -4.9% year-over-year).
- 2011: Revenue of $72K, expenses of $83K, and assets of $869K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Virginia Place Apartments Inc:
Data Sources and Methodology
This transparency report for Virginia Place Apartments Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.