Highwood Apartments Inc

Nonprofit profile at a glance

EIN
581480523
IRS 990 coverage
2013–2025
Forms available
Form 990 2025
Location
Greenville, SC, USA
Phone
8032603000
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$522,706
Expenses
$462,623
Assets
$587,915
Liabilities
$1,194,683

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

Leadership & pay

7 people listed

Executive titles in this filing

  • ROBIN ELLIOTT (PRESIDENT)
  • KIM WILSON (VICE PRESIDENT)

People named in this filing

  • ROBIN ELLIOTT (PRESIDENT)
  • KIM KARAMAN (BOARD MEMBER)
  • LISA SCHULENBURG (BOARD MEMBER)

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

The not-for-profit corporation was organized to own and operate a 44 unit apartment community in columbus, North Carolina known as highwood apartments. It was organized pursuant to section 202 of the national housing act as amended and has entered into the standard fha regulatory agreements, which govern the operation of the community, with the federal housing administration section of hud. A housing assistance payment contract (hap contract) with hud provides rent assistance for low income families (or persons) as provided by the section 8 program of the national housing act.

What it reported doing in 2025

The not-for-profit corporation was organized to own and operate a 44unit apartment community in columbus, North Carolina known as highwoodapartments. It was organized pursuant to section 202 of the nationalhousing act as amended and has entered into the standard fha regulatoryagreements, which govern the operation of the community, with thefederal housing administration section of hud. A housing assistancepayment contract (hap contract) with hud provides rent assistance forlow income families (or persons) as provided by the section 8 programof the national housing act.

Operating model

Revenue model
Grant-funded. 73% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.4%; rating input score 65
  • Program expense ratio: 73.9%; rating input score 74
  • 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; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.5%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 1.27; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 2.03; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: -0.1% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: 65.4% of revenue deployed · 73.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $342K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.