Central Manor Apartments

Nonprofit profile at a glance

EIN
591807340
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Ormond Beach, FL, USA
Phone
3866817657
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$21,818,369
Expenses
$1,714,399
Assets
$19,068,790
Liabilities
$42,598

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DAVID SMITH (PRESIDENT)

People named in this filing

  • RAWDON L GALLMAN III (VICE PRESIDE)
  • MARTIN PETTY (SECRETARY)
  • JAMES SCOTT (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

Section 8 housing and urban development project

Operating model

Revenue model
Grant-funded. 68% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the available information about grant readiness federal audit leaves an important question unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 84
  • Accountability: 82
  • Sustainability: 96
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th 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: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 92.1%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 11.12; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 19% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $1.7M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.