Cedar Place Inc

Nonprofit profile at a glance

EIN
421164744
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Story City, IA, USA
Phone
5157334328
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$521,336
Expenses
$513,537
Assets
$1,705,343
Liabilities
$1,364,623

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

Leadership & pay

12 people listed

Executive titles in this filing

  • KIM SCHILLING (CEO)

Highest reported compensation

  • KIM SCHILLING (CEO): $175,819 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 provide affordable housing to the elderly and disabled persons.

What it reported doing in 2024

Cedar place, inc. Is an Iowa not-for-profit corporation that was organized to construct, own and operate a 50 unit apartment community known as cedar place located in story city, Iowa. The community was originally financed with a direct loan provided by the department of housing and urban development under section 202 of the national housing act, as amended. In april 2008, the corporation refinanced its original hud loan with assisted living facility revenue bonds issued by story city, Iowa.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 43
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.1%; rating input score 72
  • Program expense ratio: 73.2%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.5%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 3.32; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 0% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: -3.3% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 72.1% of revenue deployed · 73.2% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $376K in reported program spending
  • Leadership: top reported pay $176K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.