Elders Lodge Corporation

Nonprofit profile at a glance

EIN
411802237
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
St Paul, MN, USA
Phone
6122906107
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$82,152
Expenses
$124,464
Assets
$2,074,259
Liabilities
$3,629,263

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

Leadership & pay

7 people listed

Executive titles in this filing

  • SUZANNE NASH (PRESIDENT)
  • IVY RASMUSSON (VICE PRESIDENT)

People named in this filing

  • SUZANNE NASH (PRESIDENT)
  • IVY RASMUSSON (VICE PRESIDENT)
  • PAM GOKEY (SECRETARY/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

To provide elderly or disabled persons with housing facilities and services specifically designed to meet their physical, social, and psychological needs, and to promote their health, security, happiness and usefulness in longer living.

What it reported doing in 2024

Elders lodge corporation (the organization) is a non-profit corporation, which operates a 43-unit apartment complex under section 202 of the national housing act. The complex, which is located in saint paul, Minnesota, began rental operations in april 1997. This organization is regulated by the u.s. Department of housing and urban development (hud) as to rent charges and operating methods and participates in the hud rent supplement program. The organization's major program is its section 202 capital advance.the organization is subject to project rental assistance contract agreements with hud, and a significant portion of the organization's rental income is received from hud. Project rental assistance contract mn46-s941-002 expires march 31st, 2028. Hud has agreed to pay the difference between the contract rent, as defined in the agreement, and that portion of rent payable by qualified tenants. The organization's non-major program is its project rental assistance, however, for federal awards compliance purposes this program is included as a major program.

Operating model

Revenue model
Earned-program. 100% 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

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 43
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76.3%; rating input score 76
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: -51.5%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 16.67; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 1.75; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 50th percentile among comparable filings
  • Revenue growth: -0.9% per year; rating input score 0; 56th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 35th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $95K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.