Heritage Acres I Ltd

Nonprofit profile at a glance

EIN
541114920
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Roanoke, VA, USA
Phone
5407744263
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$4
Expenses
$2,727
Assets
$0
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • C RICHARD CRANWELL (PRESIDENT)

People named in this filing

  • C RICHARD CRANWELL (PRESIDENT)
  • ELLEN CRANWELL (SR. VICE PRE)
  • WILLIAM C CRANWELL (VICE PRESIDE)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Prior to 2020, housing services were provided to elderly and handicapped individuals including a 93 unit facility in cape charles, Virginia, and a 40 unit facility in mountain city, tn. The direct housing services were terminated in 2019 with the sale of the housing units. In addition to housing for the elderly, the organization's original purposes included supporting other exempt purposes. The organization has restated its purposes in 2020 to include the making of distributions to organizations that qualify as exempt organizations under code section 501(c)(3) and also to provide elderly and handicapped persons with housing facilities and services.

What it reported doing in 2025

Prior to 2020, the corporation owned and operated housing facilities for approximately 200 individuals who qualified for housing assistance by virtue of being elderly or handicapped. The original objectives of the corporation were to provide facilities designed to meet the residents' physical, social and psychological needs and to serve other charitable purposes. Since the original housing facilities have been sold, the corporation will direct its efforts to the support of other tax exempt organzations which qualify as 501(c)(3) organizations.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 8
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 50.7%; rating input score 51
  • 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: 2 of 7 controls in place; rating input score 29
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -68,075%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: -11.1% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: -8.4% per year; rating input score 0; 33rd percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 50.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2025
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.