Labelle Towers Inc

Nonprofit profile at a glance

EIN
381997058
IRS 990 coverage
2015–2018
Forms available
Form 990 2018
Location
Warren, MI, USA
Phone
5867539002
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Crime Prevention

Official website

Reported finances

Revenue
$9,694,525
Expenses
$12,612,531
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • ETHEL YOUNG (PRESIDENT)
  • MARY LACEY (VICE PRESIDENT)

Highest reported compensation

  • NANCY EVANS (ASSISTANT SECRETARY): $319,476 total reported compensation
  • MEL HUDSON (NATIONAL CONSTRUCTION MANAGER): $217,109 total reported compensation
  • ANNE SACKRISON (OPERATIONS MANAGER): $195,605 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide housing facilities for low income senior citizens.

What it reported doing in 2018

Labelle towers, inc. Is a Michigan non-profit housing corporation organized on a non-stock basis by cooperative services, inc., a Michigan non-profit cooperative. The corporation was formed to acquire an interest in real property located in highland park, Michigan and to construct and operate thereon an apartment project of 214 units. Housing is provided to low income seniors in cooperation with the us department of housing and urban development.

Operating model

Revenue model
Grant-funded. 66% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 91% of its reported program spending out as grants.

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: 88
  • Transparency & Controls: 75
  • Accountability: 90
  • Sustainability: 10
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.4%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -30.1%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 2.3%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: 82.4% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 62.7% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: -39.1% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.4% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $12.4M in reported program spending
  • Leadership: top reported pay $319K · 19 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2015 to 2018
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 73 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 — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.