Freeway Homes Inc

Nonprofit profile at a glance

EIN
431112009
IRS 990 coverage
2018–2025
Forms available
Form 990 2025
Location
Kansas City, MO, USA
Phone
8165614240
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$881,282
Expenses
$726,220
Assets
$1,480,266
Liabilities
$1,146,258

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • FAYE ETTA PARKS (PRESIDENT)

People named in this filing

  • FAYE ETTA PARKS (PRESIDENT)
  • BRENDA TAYLOR (DIRECTOR)
  • KAREN CHISHOLM (DIRECTOR)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To operate a housing development under sec. 202 of the national housing act. Rent charges, major additions, renovations, and cash distributions to officers and directors are subject to prior approval by the u.s. Department of housing and urban development.

What it reported doing in 2025

Freeway homes, inc was organized to acquire an interest in real property located in Kansas city, Missouri, and to construct and operate an apartment complex of 64 units. The project is regulated by the u.s. Department of housing and urban development (hud) as to rent charges and operating methods resulting from the organization's housing assistance (hap) contract. The organization provides co-op housing to low income people. The affairs of the organization are managed by the board of directors.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.4%; rating input score 69
  • Program expense ratio: 83.5%; rating input score 84
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Fail

Sustainability

  • Operating margin: 17.6%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 2.04; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 69.4% of revenue deployed · 83.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $606K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 8 filing years from 2018 to 2025
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.