Freedom Retirement Community

Nonprofit profile at a glance

EIN
431209140
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Norborne, MO, USA
Phone
6604843705
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$51,414
Expenses
$55,411
Assets
$744,966
Liabilities
$221,060

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Colby Kruse (President)
  • Todd Matthews (Vice President)

Highest reported compensation

  • Rhonda McNelly (Treasurer/Bookkeeper): $5,100 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the organization is to provide adequate low-income housing for elderly and/or disabled citizens of our community.

What it reported doing in 2024

Provide for low-income housing to the elderly and/or disabled members of our community

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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 100
  • Accountability: 79
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.9%; rating input score 95
  • Program expense ratio: 90.1%; rating input score 90
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.8%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 13.44; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 9.2%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 94.9% of revenue deployed · 90.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $50K in reported program spending
  • Leadership: top reported pay $5K · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Governance controls: 4 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.