Galax Community Apartments Corporation

Nonprofit profile at a glance

EIN
541579956
IRS 990-EZ coverage
2011–2024
Forms available
Form 990-EZ 2024
Location
Christiansburg, VA, USA
Phone
5403822002
Rating
89
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$75,371
Expenses
$89,620
Assets
$330,691
Liabilities
$4,663

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Jeffrey Reed (CEO/President)

People named in this filing

  • Racquel Reddie (Board Chair)
  • Ana Castilla (Vice Chair)
  • Charles Famuliner (Past Chair)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Low income housing

What it reported doing in 2024

The corporation owns and operates 10 units of housing for the chronically mentally ill located in galax, va. The project is operated under section 811 of the national act regulated by hud.

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. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 44
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -18.9%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 3.69; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 33rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $90K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Sustainability: Operating margin scored 24/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.