L W Reid Home for the Elderly Inc

Nonprofit profile at a glance

EIN
581908338
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Durham, NC, USA
Phone
7048825415
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$150,199
Expenses
$140,717
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • WILLIE I PATTERSON (PRESIDENT)

People named in this filing

  • BETTY J JOHNSON (SECRETARY)
  • CHANDLER BASON (MEMBER)
  • CHARLES ROGERS (MEMBER)

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 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

L.w. Reid home for the elderly, inc., a North Carolina not-for-profit corporation, was organized to own and operate a 24-unit apartment community in durham, North Carolina, known as l.w. Reid apartments, pursuant to section 202 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. 68% 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

SUPPORTED - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 86
  • Accountability: 70
  • Sustainability: 36
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.4%; rating input score 93
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 22nd 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.3%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 20.7% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 35th percentile among comparable filings
  • Asset growth: -26.8% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 93.4% of revenue deployed · 99.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $140K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 58/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.