Gihon Unity Apartments Inc

Nonprofit profile at a glance

EIN
311072016
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Morgantown, WV, USA
Phone
3042968223
Rating
32
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4
Expenses
$0
Assets
$1,295,126
Liabilities
$10,239

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

Leadership & pay

19 people listed

Executive titles in this filing

  • JOSHUA D SWORD (PRESIDENT)

Highest reported compensation

  • JOSHUA D SWORD (PRESIDENT): $151,377 total reported compensation
  • ANDY WALTERS (SECRETARY TR): $131,793 total reported compensation
  • CLAUDETTE KARR (VICE PRESIDE): $94,833 total reported compensation

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

Overview

Mission

Provide financial assistance to commonly controlled subsidized housing entities for low-income elderly and disabled individuals.

What it reported doing in 2024

The corporation's business operation, a 50 unit housing complex, was sold in january 2009. The corporation now holds a residual receipts note, any proceeds from which are subject to restrictions on its use limited to low income housing with prior approval by the u.s. Department of housing and urban development (hud). The organization supports thirteen (13) other commonly controlled entities operating hud-approved housing complexes.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 66
  • Sustainability: 3
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 82.4%; rating input score 82; 25th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.01; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.4% per year; rating input score 0; 51st percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 14 of 17 board members independent · 4 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $151K · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 20 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • High — Growth: Revenue growth scored 0/100.