Lexington Assets Inc

Nonprofit profile at a glance

EIN
141714488
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-N 2010
Location
Johnstown, NY, USA
Phone
5187755412
Rating confidence
Limited

Reported finances

Revenue
$-49,279
Expenses
$36,860
Assets
$900,308
Liabilities
$1,026,390

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

Leadership & pay

10 people listed

Executive titles in this filing

  • RINALDO ESPOSITO (PRESIDENT)
  • JEAN SCHULTZ (VICE PRESIDENT)
  • SHALONI WINSTON (EXECUTIVE DIRECTOR)
  • DANIEL RICHARDSON (DEPUTY EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHALONI WINSTON (EXECUTIVE DIRECTOR): $353,930 total reported compensation
  • DANIEL RICHARDSON (DEPUTY EXECUTIVE DIRECTOR): $244,306 total reported compensation
  • JAMIE PETRIN (CFO): $194,493 total reported compensation

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

Overview

Mission

Lexington assets, inc. Holds title to property that is used by fulton-schoharie counties chapter nysarc, inc. In providing vocational and day program services to individuals with developmental disabilities.

What it reported doing in 2024

Not applicable

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 88
  • Accountability: 95
  • Sustainability: 32
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -174.8%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 24.43; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 1.14; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 377.6%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: -2.7% per year; rating input score 0; 27th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $354K · 10 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 6 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.

  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.