Lexington Elderly Housing Inc

Nonprofit profile at a glance

EIN
311526063
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Duluth, GA, USA
Phone
6783302000
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$462,561
Expenses
$520,684
Assets
$1,159,525
Liabilities
$74,592

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Gerald Eickhoff (President)
  • Joseph F Glenn till Oct 2024 (Vice President)
  • Earleen S Abernathy from Oct 2024 (Vice President/Asst Secretary)

People named in this filing

  • Gerald Eickhoff (President)
  • Joseph F Glenn till Oct 2024 (Vice President)
  • Earleen S Abernathy from Oct 2024 (Vice President/Asst Secretary)

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

To own and operate a rental housing property for low-income elderly and sel sufficient handicapped under section 202 of the National Housing Act.

What it reported doing in 2024

Operation and maintenance of a 40 unit apartment complex for the elderly and self-sufficient handicapped in accordance with the Department of Housing and Urban Development.

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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.6%; rating input score 98
  • Program expense ratio: 86.7%; rating input score 87
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -12.6%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 2.23; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: -3.7% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 97.6% of revenue deployed · 86.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $451K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 46 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 — Sustainability: Operating margin scored 20/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.