Holy Cross Housing Inc

Nonprofit profile at a glance

EIN
593149062
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Seminole, FL, USA
Phone
7275412631
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$940,966
Expenses
$740,627
Assets
$2,071,642
Liabilities
$89,922

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

Leadership & pay

7 people listed

Executive titles in this filing

  • REV EDWIN PALKA (PRESIDENT)

People named in this filing

  • REV EDWIN PALKA (PRESIDENT)
  • MARGARET ROGERS (VICE PRESIDE)
  • JAMES WAYNE (TREASURER)

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

We are a hud subsidized and regulated apartment complex. Our mission is to provide affordable housing and other services to qualified low-income elderly persons.

What it reported doing in 2024

76 residential apartments provided to low-income elderly persons.

Operating model

Revenue model
Grant-funded. 70% 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Assets have declined or grown slowly and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 74
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.2%; rating input score 69
  • Program expense ratio: 87.9%; rating input score 88
  • 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: 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: 21.3%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 2.8; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -4.3% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 69.2% of revenue deployed · 87.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $651K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.