Jt Hairston Memorial Apartments Inc

Nonprofit profile at a glance

EIN
560938355
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Greensboro, NC, USA
Phone
3363751552
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,527,994
Expenses
$1,705,482
Assets
$3,396,081
Liabilities
$4,295,847

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

Leadership & pay

8 people listed

People named in this filing

  • MARY G MIMS (CHAIRPERSON)
  • DR GEORGE KILPATRICK (VICE CHAIRPERSON)
  • W STEVEN ALLEN JR (SECRETARY/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

Provide housing to individuals with low and moderate income subject to hud regulations governing rental charges and operating methods.

What it reported doing in 2024

J.t. Hairston memorial apartments, inc. Was organized to construct, own and operate a 108-unit apartment community in greensboro, North Carolina, known as j.t. Hairston memorial apartments. The corporation provides housing for low income persons pursuant to section 221(d)(4) of the national housing act, as amended. The corporation has entered into the standard fha regulatory agreements governing the operation of the community with the federal housing administration section of hud.

Operating model

Revenue model
Grant-funded. 83% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 36
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.3%; rating input score 92
  • 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.6%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 1.99; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 1.26; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2013 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.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.