Blue River Ii Inc

Nonprofit profile at a glance

EIN
371450558
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
South Bend, IN, USA
Phone
5742376000
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$189,981
Expenses
$217,414
Assets
$862,606
Liabilities
$1,395,751

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

Leadership & pay

8 people listed

Executive titles in this filing

  • ESTHER SMITH (PRESIDENT)
  • DICK BUCHANAN (VICE PRESIDENT)

People named in this filing

  • ESTHER SMITH (PRESIDENT)
  • DICK BUCHANAN (VICE PRESIDENT)
  • PHYLLIS GATES (SECRETARY/TREASURER)

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

The Indiana not for profit corporation was organized to construct, own and operate a 20 unit apartment community in columbia city, Indiana known as blue river apartments. It was organized pursuant to section 811 of the national affordable housing act as amended and has executed a regulatory agreement with hud which governs the operation of the community with the federal housing administration (fha) section of hud. The corporation has also entered into a project rental assistance contract (prac contract) with hud. The prac contract is a rent assistance program for low income families (or persons) as provided by the section 8 of the national housing act.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.2%; rating input score 70
  • Program expense ratio: 61.3%; rating input score 61
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: Pass

Sustainability

  • Operating margin: -14.4%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 3.97; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 1.62; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 70.2% of revenue deployed · 61.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $133K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.