Centerplace Iii Inc D/b/a Centerplace Iii Apartments

Nonprofit profile at a glance

EIN
352073398
IRS 990-EZ coverage
2010–2024
Forms available
Form 990-EZ 2024
Location
New Albany, IN, USA
Phone
8122061344
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Group Homes

Reported finances

Revenue
$47,428
Expenses
$70,192
Assets
$248,317
Liabilities
$19,451

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JOE KIMMEL (PRESIDENT)
  • JEFFERY CALDWELL (VICE PRESIDENT (RESIGNED 3/6/25))
  • RENEE BAINES (VICE PRESIDENT (EFFECTIVE 5/5/25))

People named in this filing

  • JOE KIMMEL (PRESIDENT)
  • JEFFERY CALDWELL (VICE PRESIDENT (RESIGNED 3/6/25))
  • RENEE BAINES (VICE PRESIDENT (EFFECTIVE 5/5/25))

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Centerplace iii, inc., was organized to construct, own and operate an 8 unit apartment community in jeffersonville, Indiana, known as centerplace iii apartments, pursuant to section 811 of the national affordable housing act, as amended. The corporation has entered into the standard fha regulatory agreements governing the operation of the community with the federal housing administration section of hud. The corporation has also entered into a project rental assistance contract with hud. The prac contract is a rent assistance program for low income families or persons as provided by hud.

Operating model

Revenue model
Earned-program. 61% of the money available for current operations came from fees and other program revenue.
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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 100
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 54.1%; rating input score 54

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -48%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 3.54; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 2.7% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 35th percentile among comparable filings

Details

  • Where the money goes: 80% of revenue deployed · 54.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $38K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Program expense ratio scored 54/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.