Farmdale Adult Citizens Towers Inc

Nonprofit profile at a glance

EIN
610968419
IRS 990 coverage
2009–2017
Forms available
Form 990 2017
Location
Louisville, KY, USA
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$7,021,835
Expenses
$491,827
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Arnie Wilson (President)

Highest reported compensation

  • Michael E Childers (Administrator): $128,747 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide Senior Citizen housing facilities and services specially designed for people 62 years of age and older or handicapped or disabled in accordance with the regulations of the U.S. Department of Housing and Urban Development

What it reported doing in 2017

The organization provided 105 units of low income housing for elderly and handicapped people.

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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 93
  • Accountability: 69
  • Sustainability: 47
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.1%; rating input score 58
  • Program expense ratio: 58.6%; rating input score 59
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 11th 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 93%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 23.9%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -14.1% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 23.3% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: -11.1% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 58.1% of revenue deployed · 58.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $288K in reported program spending
  • Leadership: top reported pay $129K · 7 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 9 filing years from 2009 to 2017
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.