Brad Hoxie Area Development Inc

Nonprofit profile at a glance

EIN
581736418
IRS 990 coverage
2013–2025
Forms available
Form 990 2025
Location
Pocahontas, AR, USA
Phone
8708924547
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$259,114
Expenses
$237,700
Assets
$551,045
Liabilities
$168,168

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • HASSEL PATTERSON (Vice President)
  • FRED MARTIN (President)

Highest reported compensation

  • AMY THOMAS (Executive Dir.): $73,324 total reported compensation
  • HASSEL PATTERSON (Vice President): $55,608 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The project was formed to construct and operate thereon an apartment complex of 20 units located in hoxie, Arkansas. The project is operated under section 202 of the national housing act and regulated by the department of housing and urban development as to rent charges and operating methods.

What it reported doing in 2025

Expenditures incurred in connecion with project operations and expenditures made for corporate purposes are considered to be program services.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
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 a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 90
  • Accountability: 62
  • Sustainability: 45
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73%; rating input score 73
  • Program expense ratio: 78.8%; rating input score 79
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 19th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.3%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 2.32; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 73% of revenue deployed · 78.8% of spending went to programs
  • Governance: 2 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $187K in reported program spending
  • Leadership: top reported pay $73K · 4 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.