Kinston Towers I

Nonprofit profile at a glance

EIN
208502305
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Kinston, NC, USA
Phone
2525231195
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$1,692,056
Expenses
$1,200,586
Assets
$2,369,664
Liabilities
$1,766,940

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Vivian Perry (President)
  • Jennitra Veal (Vice President)

Highest reported compensation

  • Vivian Perry (President): $155,314 total reported compensation
  • Jennitra Veal (Vice President): $92,242 total reported compensation
  • Susan Diane Howard (Secretary): $72,071 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to provide affordable housing for the low-income elderly population.

What it reported doing in 2025

Provide affordable housing to the low-income elderly population.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 61
  • Accountability: 9
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71%; rating input score 71
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 15th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 29%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 1.97; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 71% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $155K · 5 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.