Lasalle Park Homes Ii Inc

Nonprofit profile at a glance

EIN
200646982
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
South Bend, IN, USA
Phone
8778295500
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$345,423
Expenses
$388,040
Assets
$1,706,436
Liabilities
$3,099,343

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • LYNN COLEMAN (PRESIDENT)
  • ANTHONY DOUGLAS (VICE PRESIDENT)

People named in this filing

  • LYNN COLEMAN (PRESIDENT)
  • ANTHONY DOUGLAS (VICE PRESIDENT)
  • JOHN NURKOWSKI CPA (TREASURER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Lasalle park homes ii, inc. Is an Indiana not-for-profit corporation which was organized to construct, own and operate a 42 unit apartment community in south bend, Indiana known as william c. Ellison residence, pursuant to section 202 of the national affordable housing act. The corporation has executed a regulatory agreement with hud which governs the operations of the project with the federal housing administration section of hud. It has also entered into a project rental assistance contract (prac contract) with hud. The prac contract is a rent assistance program for low-income families or persons as provided by the section 8 program of the national housing act.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 40
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.4%; rating input score 75
  • Program expense ratio: 67.1%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -12.3%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 4.4; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 1.82; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: -3.2% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 75.4% of revenue deployed · 67.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $260K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.