Bloomington Restorations Inc

Nonprofit profile at a glance

EIN
310894146
IRS 990 coverage
2013–2023
Forms available
Form 990 2023
Location
Bloomington, IN, USA
Phone
8123360909
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$112,232
Expenses
$130,275
Assets
$1,897,959
Liabilities
$2,151

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Steve Wyatt (Executive Director)
  • Devin Blankenship (Vice-President)
  • Pete Kinne (President)

Highest reported compensation

  • Steve Wyatt (Executive Director): $17,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Blooming Restorations, Inc. works to save, restore and preserve historic buildings and provide affordable housingin Monroe County, IN.

What it reported doing in 2023

In 2023, BRI protected and preserved the Hinkle-Garton Farmstead, completing the repair and repainting of the exterior of the two story Queen Anne farmhouse. We also provided affordable housing at a home in Stinesville for a low-to-moderate renter. BRI is holding a house at 122 S. Sale St. in Ellettsville it purchased to save it from demolition. BRI is marketing the Sale Street house for sale, seeking a buyer who would agree to restore it. BRI also purchased a house at 705 W. Cherokee Drive in Bloomington with the plan of rehabilitating it to provide affordable housing.

Operating model

Revenue model
Other-operating. 65% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.6%; rating input score 40
  • Program expense ratio: 34.1%; rating input score 34
  • Fundraising efficiency: $10.77 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings

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; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.1%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 14.57; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 13.4%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 39.6% of revenue deployed · 34.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $44K in reported program spending
  • Leadership: top reported pay $18K · 10 people listed
  • Consistency: 17 of 19 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules
  • Filing history: 10 filing years from 2013 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 34/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 41/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.