Lenox Acres Inc

Nonprofit profile at a glance

EIN
237222170
IRS 990-EZ coverage
2010–2024
Forms available
Form 990-EZ 2024
Location
Independence, IA, USA
Phone
3193347110
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$116,757
Expenses
$93,825
Assets
$252,599
Liabilities
$31,689

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

Leadership & pay

6 people listed

Executive titles in this filing

  • NATHAN FREEZE (PRESIDENT)

People named in this filing

  • ELMER FELDMAN (VICE PRESIDE)
  • LARRY LAMONT (SECRETARY)
  • NATHAN FREEZE (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Low-income rental housing.

Operating model

Revenue model
Earned-program. 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 82
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.6%; rating input score 75
  • Program expense ratio: 93.1%; rating input score 93

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 19.6%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 2.69; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 4.1% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 74.6% of revenue deployed · 93.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $87K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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 — Sustainability: Liabilities to assets ratio scored 22/100.