8240 Boston Inc

Nonprofit profile at a glance

EIN
460689365
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Lubbock, TX, USA
Phone
8067955433
Rating confidence
Limited
Sector
Real Estate Associations

Reported finances

Revenue
$-33,415
Expenses
$0
Assets
$1,093,239
Liabilities
$822,506

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • VICTOR CORONADO (PRESIDENT)

People named in this filing

  • JEAN ANDERSON (VICE CHAIR)
  • VICTOR CORONADO (PRESIDENT)
  • JESSE GARCIA (SEC/TREAS)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

8240 boston inc. Holds the title to the property located at 8240 boston ave in lubbock, Texas for the purpose of collecting rent on the property. The income pays for the insurance and significant repair bills on the property as well as servicing the debt.

What it reported doing in 2024

8240 boston inc holds the title to the property at 8240 boston ave in lubbock, Texas for the purpose of collecting rent on the property. The income is used to pay for the insurance and significant repairs on the property as well as to sevice the debt on the building. Any income remaining after expenses is turned over to lifetime independence for everyone inc which is a 501(c)(3) organization.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 10
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -100%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.75; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -25.9% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -68.6% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 28th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.