Hagan-trabue Apartments Inc

Nonprofit profile at a glance

EIN
611292200
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5025893030
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$80,028
Expenses
$97,070
Assets
$289,931
Liabilities
$41,753

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

Leadership & pay

5 people listed

Executive titles in this filing

  • CURTIS THRUSH (PRESIDENT)
  • LINDA HOUSE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LINDA HOUSE (EXECUTIVE DIRECTOR): $115,155 total reported compensation

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

Overview

Mission

Hagan-trabue apartments, inc. Was formed to provide housing facilities, maintained and operated on a charitable and non-profit basis. Specifically, the organization has constructed a 10-unit apartment complex to house handicapped individuals.

What it reported doing in 2024

To provide housing facilities to handicapped individuals in an 10-unit apartment complex .

Operating model

Revenue model
Earned-program. 100% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 32
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.9%; rating input score 99
  • Program expense ratio: 81.6%; rating input score 82
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -21.3%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 2.99; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: -3.5% per year; rating input score 0; 25th percentile among comparable filings

Details

  • Where the money goes: 98.9% of revenue deployed · 81.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $79K in reported program spending
  • Leadership: top reported pay $115K · 5 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 9 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 — Sustainability: Operating margin scored 39/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.