Canton Properties Inc

Nonprofit profile at a glance

EIN
752809679
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lakeway, TX, USA
Phone
9729800945
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Centers

Reported finances

Revenue
$934,807
Expenses
$200,000
Assets
$21,558,799
Liabilities
$380,865

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

Leadership & pay

5 people listed

Executive titles in this filing

  • LLOYD KITCHEN III (PRESIDENT)
  • LLOYD KITCHEN (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • LLOYD KITCHEN III (PRESIDENT): $134,167 total reported compensation
  • ROBBIE L WITTNER (CHAIRMAN, COO, SECRETARY): $37,924 total reported compensation
  • LLOYD KITCHEN (EXECUTIVE VICE PRESIDENT): $20,207 total reported compensation

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

Overview

Mission

To develop and/or rehabilitate or acquire housing for low and very-low income individuals. Organization is dedicated to creating an environment of safety and decency in areas and communities where there is a concentration of low and very-low income individuals and families who need a safe, affordable dominion.

What it reported doing in 2024

Direct cost associated with developing, rehabilitating, and managing housing for low and very-low income individuals. The project is a 232 unit apartment project.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 93
  • Accountability: 52
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 21.4%; rating input score 21
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 11th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 78.6%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 107.79; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 29.1%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -3% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 21.4% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $200K in reported program spending
  • Leadership: top reported pay $134K · 5 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 23 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.

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 — Financial Efficiency: Mission deployment rate scored 21/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.