Corinthian Gardens Inc
Nonprofit profile at a glance
- EIN
- 421253242
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- West Des Moines, IA, USA
- Phone
- 5152435823
- Rating
- 51
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $45,506
- Expenses
- $6,675
- Assets
- $839,066
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
People named in this filing
- MARY LYNNE JONES (DIRECTOR)
- OCIE LOVE (DIRECTOR)
- DANIEL STOKES (DIRECTOR)
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
To provide objective and independent leadership in helping to meet the physical, social and emotional needs of low-income elderly or disabled persons through the development of service facilities and programs appropriate to their usage; to work with public and private national, state, and local agencies, organizations and institutions in extending such services to such persons; to provide low-income affordable housing for the aforesaid persons who do not possess the means to furnish adequate housing for themselves; to complete and do any and all acts suitable, proper and conducive to the successful conduct of an affordable housing program; and to develop, coordinate and administer programs for low-income elderly and/or disabled persons in Iowa, so long as said programs deal with rehabilitation, therapy, health, and welfare in order to assist them in adjusting to themselves and their environment.
What it reported doing in 2024
The organization is a supporting organization to the corinthian baptist church whose mission is to provide affordable quality housing for senior citizens of modest means. During the calendar year ended december 31, 2016, the organization sold the land, building and other property it owned to corinthian gardens associates, l.p, which in turn substantially rehabilitated the property pursuant to the affordable housing program under irc section 42. Corinthian gardens, inc. Remains the sole member of corinthian gardens gp, llc (the general partner of corinthian gardens associates, l.p.).
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 15
- Transparency & Controls: 89
- Accountability: 70
- Sustainability: 89
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 5.5%; rating input score 5
- Program expense ratio: 37.5%; rating input score 37
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 9th 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; 64th percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 85.3%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 125.7; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings
Growth
- Program expense growth: -30.2% per year; rating input score 0; 11th percentile among comparable filings
- Revenue growth: -13.5% per year; rating input score 0; 26th percentile among comparable filings
- Asset growth: -11% per year; rating input score 0; 12th percentile among comparable filings
Details
- Where the money goes: 5.5% of revenue deployed · 37.5% of spending went to programs
- Governance: 12 of 12 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $2K in reported program spending
- Leadership: top reported pay $0 · 12 people listed
- Consistency: 14 of 15 current checks pass · 1 finding to review
- Schedules: 4 filed schedules
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 3 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.
- High — Financial Efficiency: Mission deployment rate scored 5/100.
- Moderate — Financial Efficiency: Program expense ratio scored 37/100.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- High — Growth: Asset growth scored 0/100.