Hadley Terrace Inc

Nonprofit profile at a glance

EIN
391780021
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Milwaukee, WI, USA
Phone
4143627240
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$763,163
Expenses
$877,362
Assets
$1,392,656
Liabilities
$103,521

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

Leadership & pay

4 people listed

Executive titles in this filing

  • WILLIAM BODE (PRESIDENT)

People named in this filing

  • WILLIAM BODE (PRESIDENT)
  • SISTER GRACE MARY CROFT (VP & SPONSORSHIP REPRESENTATIVE)
  • DR FRANK PROBST (CHAIRMAN)

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

The mission at hadley terrace is to provide elderly persons with housing facilities and services especially designed to meet their physical, social and psychological needs and promote their health, security, happiness, and usefulness in longer living.

What it reported doing in 2024

Hadley terrace, inc. Is a nonprofit, nonstock corporation which operates an apartment project in milwaukee, wi, consisting of 60 apartments which are rented to low-income elderly persons. The corporation is operated under section 202 of the national housing act and regulated by the u.s. Department of housing and urban development with respect to rental charges and operating methods. All units qualify under section 8 of the hud regulations.

Operating model

Revenue model
Grant-funded. 63% of the money available for current operations came from government grants.
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: 75
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.2%; rating input score 88
  • Program expense ratio: 76.7%; rating input score 77
  • 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -15%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.59; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -3.5% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 88.2% of revenue deployed · 76.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $673K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Highest-paid contractors: 1 contractor listed · $189K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.