Episcopal Apartments of the Slate Belt Inc

Nonprofit profile at a glance

EIN
232137028
IRS 990 coverage
2018–2022
Forms available
Form 990 2022
Location
Pen Argyl, PA, USA
Phone
4845536867
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing
Affiliation
Christianity

Official website

Reported finances

Revenue
$4,685,918
Expenses
$674,188
Assets
$2,927,124
Liabilities
$25,728

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • DAVID J CERAUL (PRESIDENT)
  • MICHAEL NASATKA (VICE PRESIDENT)

People named in this filing

  • STEPHEN RUGGIERO (SECRETARY)
  • DAVID J CERAUL (PRESIDENT)
  • MICHAEL NASATKA (VICE PRESIDENT)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide low income housing for the elderly in a supportiveenvironment.

What it reported doing in 2022

Low income subsidized housing

Operating model

Revenue model
Earned-program. 98% 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. A relatively small share of voting board members are independent and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 68
  • Sustainability: 91
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.7%; rating input score 89
  • Program expense ratio: 72.4%; rating input score 72
  • 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: 55.6%; rating input score 56; 8th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 85.6%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 4.34; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: -8.8% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 41% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 88.7% of revenue deployed · 72.4% of spending went to programs
  • Governance: 5 of 9 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $488K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2018 to 2022
  • 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.

  • Review — Accountability: Independent voting board scored 56/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.