Lake Norman Home Builders Association Inc

Nonprofit profile at a glance

EIN
561666020
IRS 990 coverage
2014–2023
Forms available
Form 990 2023
Location
Mooresville, NC, USA
Phone
7046645622
Rating
59
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$182,568
Expenses
$178,834
Assets
$140,957
Liabilities
$22,246

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

Leadership & pay

7 people listed

Executive titles in this filing

  • SEAN GALLAGHER (PRESIDENT)
  • JOSH BURGER (ASSOC VICE PRESIDENT)
  • SAM MERITT (VICE PRESIDENT)

Highest reported compensation

  • BETH WHITE (EXCEUTIVE DIRECTOR): $61,595 total reported compensation

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

Overview

Mission

Support area home builders

Operating model

Revenue model
Membership-supported. 74% of the money available for current operations came from membership dues.
Distribution model
Hybrid. The nonprofit split its reported program spending across 36% for direct work, 4% for grants, and 60% for affiliated organizations.

The verdict

MIXED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 90
  • Accountability: 10
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.8%; rating input score 72
  • Program expense ratio: 73.3%; rating input score 73
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 34.4%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: -1.6% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 71.8% of revenue deployed · 73.3% of spending went to programs
  • Governance: 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $40K in reported program spending
  • Leadership: top reported pay $62K · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.