Jennings Manor Housing Corporation

Nonprofit profile at a glance

EIN
311544685
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Garfield Heights, OH, USA
Phone
2165812902
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$560,786
Expenses
$628,672
Assets
$2,206,548
Liabilities
$4,326,482

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

Leadership & pay

9 people listed

Executive titles in this filing

  • ALLISON Q SALOPECK (PRESIDENT AND CEO)

Highest reported compensation

  • ALLISON Q SALOPECK (PRESIDENT AND CEO): $341,384 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide subsidized housing in a campus setting for adults age 62 or older with limited means who qualify based on certain income requirements.

What it reported doing in 2024

Provided housing in a 61-unit apartment complex to low-income elderly residents (hud 202 project)

Operating model

Revenue model
Earned-program. 98% 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

SUPPORTED - 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: 75
  • Transparency & Controls: 77
  • Accountability: 94
  • Sustainability: 36
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.6%; rating input score 88
  • Program expense ratio: 79%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 22nd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -12.1%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 3.51; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 1.96; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 5%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 0.4% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: -3.4% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 87.6% of revenue deployed · 79% of spending went to programs
  • Governance: 8 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $497K in reported program spending
  • Leadership: top reported pay $341K · 9 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 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.

  • High — Sustainability: Operating margin scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.