Highland Terrace of Prestonsburg Inc

Nonprofit profile at a glance

EIN
610966651
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Prestonsburg, KY, USA
Phone
6068861927
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$832,586
Expenses
$772,385
Assets
$1,016,984
Liabilities
$1,782,685

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

Leadership & pay

7 people listed

People named in this filing

  • DR EUGENE BLACKBURN (VICE CHAIR)
  • REV BOB CARPENTER (CHAIRMAN)
  • REV KEVIN JETT (DIRECTOR)

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 of highland terrace of prestonsburg, inc. Is to provide decent, safe, sanitary, and affordable housing to extremely low, very low and low income elderly individuals.

What it reported doing in 2024

Highland terrace of prestonsburg, inc. Rents 80 apartments to the elderly. Hud regulates eligibility criteria and subsidized monthly rent charges. For the year ended june 30, 2025, hud provided 420,535 in housing assistance payments, which represents 51% of total annual revenues.

Operating model

Revenue model
Earned-program. 97% 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 assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 51
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.8%; rating input score 84
  • Program expense ratio: 90.4%; rating input score 90
  • 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Pass

Sustainability

  • Operating margin: 7.2%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 1.75; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 0.8% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 83.8% of revenue deployed · 90.4% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $698K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2010 to 2024
  • 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 — Sustainability: Operating margin scored 55/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.