Apartment Life 
The information on this page was last updated 5/18/2023. If you see errors or omissions, please email: [email protected]
Summary
Apartment Life is a faith-based, non-profit organization that has been serving the apartment industry since 2000.
Contact information
Mailing address:
Apartment Life
PO Box 650951
Dallas, TX 75265
Website: apartmentlife.org
Phone: 817-685-2963
Email: [email protected]
Organization details
EIN: 752868621
CEO/President: Pete Kelly
Chairman: Keith Dunkin
Board size: 14
Founder: Stan Dobbs
Ruling year: 2000
Tax deductible: Yes
Fiscal year end: 12/31
Member of ECFA: Yes
Member of ECFA since: 2020
Purpose
Community is good for both people and business. Unfortunately, many apartment residents feel completely disconnected from their neighbors.
Apartment Life helps apartment owners care for residents by connecting them in relationships. This, in turn, helps improve the community's financial performance through online reputation, resident satisfaction, and resident retention. Changing business. Changing lives.
Mission statement
We believe every individual is created for community and that we are called to love our neighbor as ourselves. Our goal is to live this out while providing strong business value to apartment owners.
Statement of faith
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Community Development
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 36 of 1097 | 11 of 142 |
| Fund acquisition rating | | 235 of 1099 | 30 of 142 |
| Resource allocation rating | | 43 of 1099 | 13 of 142 |
| Asset utilization rating | | 68 of 1097 | 11 of 142 |
Financial ratios
| Funding ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 8% | 3% | 1% | 1% | 0% | 1% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 6% | 2% | 1% | 1% | 0% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 92% | 79% | 81% | 81% | 80% | 82% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 6% | 2% | 1% | 1% | 0% | 1% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 8% | 21% | 19% | 19% | 20% | 18% |
| Operating ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Program expense ratio Program expense ratio = Program services / Total expenses | 82% | 94% | 95% | 95% | 94% | 94% |
Spending ratio Spending ratio = Total expenses / Total revenue | 92% | 98% | 92% | 98% | 99% | 97% |
Program output ratio Program output ratio = Program services / Total revenue | 74% | 91% | 88% | 92% | 94% | 91% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 8% | 2% | 8% | 2% | 1% | 3% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 10% | 15% | 57% | 34% | 13% | 57% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 11% | 4% | 4% | 4% | 6% | 6% |
| Investing ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.87 | 3.97 | 4.28 | 7.59 | 8.86 | 8.61 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.67 | 1.03 | 1.04 | 1.06 | 1.02 | 1.00 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.55 | 4.10 | 4.44 | 8.02 | 9.07 | 8.65 |
| Liquidity ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Current ratio Current ratio = Total current assets / Total current liabilities | 17.03 | 11.58 | 61.09 | 9.94 | 27.16 | 4.89 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.06 | 0.09 | 0.02 | 0.10 | 0.04 | 0.20 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.96 | 2.67 | 2.66 | 1.35 | 1.27 | 1.10 |
| Solvency ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 8% | 41% | 38% | 49% | 55% | 59% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 105% | 15% | 14% | 7% | 5% | 5% |
Financials
| Balance sheet | |||||
| Assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| Cash | $5,014,467 | $3,507,369 | $1,514,751 | $1,087,262 | $1,414,084 |
| Receivables, inventories, prepaids | $603,493 | $1,018,749 | $778,216 | $659,472 | $273,782 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $5,617,960 | $4,526,118 | $2,292,967 | $1,746,734 | $1,687,866 |
| Long-term investments | $50,000 | $50,000 | $0 | $0 | $0 |
| Fixed assets | $0 | $0 | $2,223 | $4,646 | $7,835 |
| Other long-term assets | $139,966 | $119,642 | $127,499 | $35,356 | $0 |
| Total long-term assets | $189,966 | $169,642 | $129,722 | $40,002 | $7,835 |
| Total assets | $5,807,926 | $4,695,760 | $2,422,689 | $1,786,736 | $1,695,701 |
| Liabilities | 2021 | 2020 | 2019 | 2018 | 2017 |
| Payables and accrued expenses | $12,764 | $74,090 | $230,573 | $64,310 | $251,195 |
| Other current liabilities | $472,343 | $0 | $0 | $0 | $93,660 |
| Total current liabilities | $485,107 | $74,090 | $230,573 | $64,310 | $344,855 |
| Debt | $0 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1,907,736 | $1,733,054 | $962,548 | $911,608 | $649,163 |
| Total long-term liabilities | $1,907,736 | $1,733,054 | $962,548 | $911,608 | $649,163 |
| Total liabilities | $2,392,843 | $1,807,144 | $1,193,121 | $975,918 | $994,018 |
| Net assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| Without donor restrictions | $3,338,643 | $2,826,546 | $1,216,103 | $795,613 | $193,989 |
| With donor restrictions | $76,440 | $62,070 | $13,465 | $15,205 | $507,694 |
| Net assets | $3,415,083 | $2,888,616 | $1,229,568 | $810,818 | $701,683 |
| Revenues and expenses | |||||
| Revenue | 2021 | 2020 | 2019 | 2018 | 2017 |
| Total contributions | $18,724,018 | $17,703,095 | $15,159,010 | $12,806,218 | $12,310,160 |
| Program service revenue | $4,725,835 | $4,030,809 | $3,760,519 | $3,199,273 | $2,677,178 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $47,716 | $9,453 | $4,627 | $27,134 | $2,156 |
| Other revenue | $61,278 | $23,837 | ($118,988) | ($88,257) | $12,812 |
| Total other revenue | $4,834,829 | $4,064,099 | $3,646,158 | $3,138,150 | $2,692,146 |
| Total revenue | $23,558,847 | $21,767,194 | $18,805,168 | $15,944,368 | $15,002,306 |
| Expenses | 2021 | 2020 | 2019 | 2018 | 2017 |
| Program services | $21,543,429 | $19,105,666 | $17,375,864 | $14,912,700 | $13,682,367 |
| Management and general | $968,694 | $825,067 | $815,856 | $913,133 | $844,848 |
| Fundraising | $520,257 | $177,413 | $194,698 | $9,400 | $75,389 |
| Total expenses | $23,032,380 | $20,108,146 | $18,386,418 | $15,835,233 | $14,602,604 |
| Change in net assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| Surplus (deficit) | $526,467 | $1,659,048 | $418,750 | $109,135 | $399,702 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $526,467 | $1,659,048 | $418,750 | $109,135 | $399,702 |
Compensation
| Name | Title | Compensation |
| Stan Dobbs | Founder | $424,000 |
| Pete Kelly | CEO | $242,976 |
| Pete Wayman | CFO | $175,000 |
| Kelly Jones | COO | $155,532 |
| David Marshall | Regional President | $150,760 |
| Randall Ginnan | Regional President | $143,739 |
| Jaclyn Ratzlaff | Division Pres. | $137,742 |
| Kiley Sharp | Division Pres | $136,674 |
| Joseph Davis | Div. President | $129,230 |
| Sean Bailey | VP, Customer Exp | $109,111 |
| Daniel Falcone | Regional President | $107,321 |
| Sommer Clayman | CFO | $58,591 |
Compensation data as of: 12/31/2021
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/18/2023. To update the information below, please email: [email protected]
History
After a career in the computer industry, Stan attended seminary in Fort Worth Texas and developed a passion for serving apartment communities while on staff at a church. Seeing the apartment industry's need for help in creating real community, Stan launched Apartment Life in 2000 with the support of several apartment industry executives, many of whom serve on the Board of Directors. Stan lives in the Dallas/Fort Worth area with his wife Vicky. They have four children - Amelia, Aaron, Elliott, and Graham.