Greater Lake City Community Development Corp Inc

Nonprofit profile at a glance

EIN
043709254
IRS 990 coverage
2020–2025
Forms available
Form 990 2025, Form 990-N 2019
Location
Lake City, FL, USA
Phone
3867529785
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$246,468
Expenses
$121,387
Assets
$872,379
Liabilities
$331,428

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

Leadership & pay

5 people listed

Executive titles in this filing

  • LESTER MCKELLUM (EXECUTIVE DIRECTOR)
  • TROY WIMBERLEY (PRESIDENT)

Highest reported compensation

  • LESTER MCKELLUM (EXECUTIVE DIRECTOR): $10,200 total reported compensation
  • MARY MCKELLUM (ADMINISTRATIVE ASSISTANT): $7,800 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose for which this corporation is organized is for educational, scientific and socio-economic, community revitalization and any other such matters not inconsistent withnot for profit.

What it reported doing in 2025

Greater Lake City Community Development Corp Inc was successful in revitalizing areas of our community and in providing low income housing to individuals in need.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 96% 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 - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48%; rating input score 48
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 24th 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: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 50.7%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 7.19; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 14.8%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 48% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $121K in reported program spending
  • Leadership: top reported pay $10K · 5 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.