Enterprise Housing - Colonnade Llc

Nonprofit profile at a glance

EIN
020697225
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Carmel, IN, USA
Phone
3175744700
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$-783,949
Expenses
$1,549,795
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • HUGH M PETERS (PRESIDENT/TREASURER)

Highest reported compensation

  • HUGH M PETERS (PRESIDENT/TREASURER): $38,333 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Enterprise housing - colonnade, llc is an Indiana limited liability company formed to acquire, own and operate a 92 unit apartment community located in effingham, Illinois, known as colonnade apartments. The sole member of the company is enterprise housing, inc., an Indiana not-for-profit corporation. All of the apartment units qualify for federal rent subsidy pursuant to section 8 of the u.s. Housing act of 1937, as amended.

Operating model

Revenue model
Grant-funded. 72% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 73% of its reported program spending out as grants.

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 5
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.9%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 24th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -297.7%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 55.9% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: -50.9% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -19% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.9% of spending went to programs
  • Governance: 4 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $38K · 5 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 9/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.