Elk Horn Development Corporation

Nonprofit profile at a glance

EIN
237075492
IRS 990-EZ coverage
2010–2014
Forms available
Form 990-EZ 2014
Location
Elk Horn, IA, USA
Phone
7127648542
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$36,251
Expenses
$35,262
Assets
$197,335

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • PAUL HANSEN (President)

People named in this filing

  • TIM FREDERICKSEN (Foundation Mgr.)
  • PAUL HANSEN (President)
  • HOWARD SORENSON (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Low income housing

What it reported doing in 2014

Provide 8 low income housing apartments

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 82
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.9%; rating input score 78
  • Program expense ratio: 80.1%; rating input score 80

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 2.7%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 5.6; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 37.6% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 77.9% of revenue deployed · 80.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $28K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 3 filing years from 2010 to 2014
  • 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 — Sustainability: Operating margin scored 51/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.