Endependence Properties Inc

Nonprofit profile at a glance

EIN
223874950
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
7574618007
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$168,012
Expenses
$112,500
Assets
$588,962
Liabilities
$25,521

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

Leadership & pay

4 people listed

Executive titles in this filing

  • LISBET DULA (PRESIDENT)

People named in this filing

  • LISBET DULA (PRESIDENT)
  • MALCOM B HIGGINS (VICE-PRES)
  • CECILIA SIMMONS (TRESURER)

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

Assists a corporation qualified under section 501(c) 3 to carry out its duties by obtaining and providing real property necessary to carry out its purpose and function.

What it reported doing in 2024

Support a corporation qualified under section 501(c)3 to carry out its duties.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 88
  • Accountability: 76
  • Sustainability: 75
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67%; rating input score 67
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 33%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 5.24; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 0.7% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 67% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $112K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.