Croft House Inc

Nonprofit profile at a glance

EIN
570640593
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Greenville, SC, USA
Phone
8035361056
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,102,970
Expenses
$1,018,134
Assets
$767,945
Liabilities
$1,633,119

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

Leadership & pay

13 people listed

Executive titles in this filing

  • KIM RAYFIELD (PRESIDENT)
  • PETE GOLDSCHMIDT (VICE PRESIDENT)

People named in this filing

  • KIM RAYFIELD (PRESIDENT)
  • PETE GOLDSCHMIDT (VICE PRESIDENT)
  • RICHARD MARK (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

Croft house, inc. (the "corporation") is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of South Carolina. The corporation was formed for the purpose of operating a 60 unit community known as croft house (the "property") located in aiken, South Carolina, which provides housing for low-income elderly persons, under section 207 pursuant to section 223(f) of the national housing act, as amended.

Operating model

Revenue model
Grant-funded. 64% 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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.4%; rating input score 66
  • Program expense ratio: 71.9%; rating input score 72
  • 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: 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 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.7%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 2.13; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 66.4% of revenue deployed · 71.9% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $732K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 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.

  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.