Hot Springs Senior Citzens Apartments

Nonprofit profile at a glance

EIN
830244830
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Thermopolis, WY, USA
Phone
4062523773
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$274,089
Expenses
$260,353
Assets
$411,606
Liabilities
$121,124

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

Leadership & pay

9 people listed

People named in this filing

  • MARILYN BRAATEN (CHAIRPERSON)
  • LEON BUDD (VICE-CHAIRPERSON)
  • MICHELLE MCCAWLEY (SECRETARY)

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

To construct and operate a rental housing property for low income elderly through hud

What it reported doing in 2024

Hot springs senior citizens apartments, inc. Was incorporated in 1963 in the state of Wyoming as a not-for-profit corporation for the purpose of constructing and operating a rental housing property for the elderly. The property consists of 24 units located in thermopolis, Wyoming and is known as hot springs senior citizens apartments. The corporation has entered into a section 8 housing assistance payment contract with the u.s. Department of housing and urban development.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 50
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.1%; rating input score 82
  • Program expense ratio: 86.4%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 5 of 7 controls in place; rating input score 71
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 1.58; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: -0.8% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 82.1% of revenue deployed · 86.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $225K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: 2 of 7 not reported.
  • Review — Sustainability: Operating margin scored 51/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.