Draymont Housing Corporation

Nonprofit profile at a glance

EIN
562381978
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Greenville, SC, USA
Phone
8035361056
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$147,001
Expenses
$159,469
Assets
$606,837
Liabilities
$14,514

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

Leadership & pay

14 people listed

Executive titles in this filing

  • CANDACE TIMMERMAN (PRESIDENT)

People named in this filing

  • BRIAN THOMAS (BOARD CHAIR)
  • DENISE FRANKLIN (VICE CHAIR)
  • JIM BOYD (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

Draymont housing 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 24 unit community known as draymont ridge apartments located in spartanburg, South Carolina, which provides housing for low-income elderly persons. The corporation receives housing assistance from the u.s. Department of housing and urban development pursuant to section 202 of the national housing act, as amended.

Operating model

Revenue model
Grant-funded. 61% 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. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 46
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.2%; rating input score 85
  • Program expense ratio: 78.4%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: -8.5%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 3.81; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 85.2% of revenue deployed · 78.4% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $125K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 9 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 — Sustainability: Operating margin scored 24/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.