Adapt Housing Corporation Number One
Nonprofit profile at a glance
- EIN
- 383060995
- IRS 990-EZ coverage
- 2020–2025
- Forms available
- Form 990 2019, Form 990-EZ 2025
- Location
- Coldwater, MI, USA
- Phone
- 5172782660
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $134,934
- Expenses
- $160,056
- Assets
- $377,584
- Liabilities
- $12,949
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
6 people listed
People named in this filing
- Lori LaBundy (Executive Dir.)
- Jessica Singer (Chairman)
- Don Hicks (Director)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Adapt Housing Corporation Number One, Inc., a Michigan not-for-profit corporation, is organized to provide safe, sanitary and decent housing for tenants with mental disabilities at the Horizon Apartments in Coldwater, Michigan
What it reported doing in 2025
To provide low income housing to tenants with mental disabilities at Horizon Apartments in Coldwater, Michigan.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and assets have declined or grown slowly.
Rating breakdown
- Financial Efficiency: 98
- Transparency & Controls: 82
- Sustainability: 39
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 95.3%; rating input score 95
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -18.6%; rating input score 8; 8th percentile among comparable filings
- Total-asset coverage ratio: 2.36; rating input score 84; 84th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 28; 28th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 0.1% per year; rating input score 100; 29th percentile among comparable filings
- Revenue growth: 3.1% per year; rating input score 100; 34th percentile among comparable filings
- Asset growth: -6.3% per year; rating input score 0; 14th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 95.3% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $153K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- Filing history: 6 filing years from 2020 to 2025
- Contacts: How to reach this organization
- 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.
- High — Sustainability: Operating margin scored 8/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 28/100.