Folts Apartments Inc
Nonprofit profile at a glance
- EIN
- 223397235
- IRS 990-EZ coverage
- 2010–2010
- Forms available
- Form 990-EZ 2010
- Location
- Herkimer, NY, USA
- Phone
- 3158666964
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Limited
- Sector
- Supportive Housing for Older Adults
Reported finances
- Revenue
- $48,455
- Expenses
- $30,457
- Assets
- $329,053
Source: IRS Form 990-EZ. Selected filing: tax year 2010. Amounts in USD.
Leadership & pay
3 people listed
Source: IRS Form 990-EZ. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide housing for the elderly.
What it reported doing in 2010
Apartments are leased to individuals who can care for themselves without requiring the services of an adult home or skilled nursing facility. 6 apartments are available; 5 are rented full-time and 1 is rented on an as needed basis.
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
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and the available information about grant readiness automatic revocation leaves an important question unanswered.
Rating breakdown
- Financial Efficiency: 78
- Transparency & Controls: 82
- Sustainability: 69
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 63.8%; rating input score 64
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 50th percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 37.1%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 10.8; rating input score 93; 93rd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: Limited
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 63.8% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $31K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 5 of 6 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- Related organizations: Filed and resolved organization relationships.
- 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.
- Moderate — Transparency & Controls: Part III program expenses within total did not reconcile in the filed values.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.