Gcarc Housing Inc

Nonprofit profile at a glance

EIN
351793391
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Evansville, IN, USA
Phone
8124712500
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$210,731
Expenses
$208,111
Assets
$295,326
Liabilities
$680,349

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

Leadership & pay

6 people listed

Executive titles in this filing

  • DAVID KOLB (PRESIDENT)

People named in this filing

  • DAVID KOLB (PRESIDENT)
  • MARGARET HUGHES (SECRETARY/TREASURER)
  • SANDRA NIXON (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordable housing to low-income individuals.

What it reported doing in 2024

The organization owns and operates a 12 unit low-income apartment complex pursuant to section 202 of the national housing act and provides affordable housing to low-income individuals.

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

SUPPORTED - 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: 92
  • Accountability: 64
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.6%; rating input score 93
  • Program expense ratio: 93.8%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 1.42; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 2.3; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 23.1% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 92.6% of revenue deployed · 93.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $195K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • 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.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.