KLT Enterprise Inc NFP

Nonprofit profile at a glance

EIN
262866588
IRS 990 coverage
2022–2023
Forms available
Form 990 2023, Form 990-N 2021
Location
Homewood, IL, USA
Phone
7086001056
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Youth Development Programs

Reported finances

Revenue
$344,800
Expenses
$368,411
Assets
$9,657
Liabilities
$6,524

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • Syretta West (President)

Highest reported compensation

  • Syretta West (President): $25,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide community day service program activities to individuals with developmental and intellectual disabilities Develop and manage affordable housing tailored to the needs of individuals with disabilities. Partner with local government and private stakeholders to secure funding and support to better integrate individuals into the community.

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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 65
  • Accountability: 84
  • Sustainability: 19
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.7%; rating input score 42
  • Program expense ratio: 39%; rating input score 39
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6.8%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 44.1% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 29.3% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 29.9% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 41.7% of revenue deployed · 39% of spending went to programs
  • Governance: 2 of 2 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $144K in reported program spending
  • Leadership: top reported pay $25K · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 39/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.