Lexington Housing Development Corporation

Nonprofit profile at a glance

EIN
261596578
IRS 990 coverage
2021–2021
Forms available
Form 990 2021
Location
Lexington, NE, USA
Phone
3083244633
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$303,028
Expenses
$205,836
Assets
$1,126,249
Liabilities
$33,120

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

  • WILLIAM BRECKS (DIRECTOR)
  • VANCE BRICKER (DIRECTOR)
  • KYLE FERGUSON (RESIDENT)

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 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the housing authority of the city of lexington Nebraska is to be the area's affordable housing of choice. We provide and maintain safe, quality housing in a cost-effective manner. By partnering with others, we offer rental assistance and other related services to our community in a non-discriminatory manner.

What it reported doing in 2021

.

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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 73
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67%; rating input score 67
  • Program expense ratio: 98.6%; rating input score 99
  • 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: 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: 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: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 32.1%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 5.47; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 67% of revenue deployed · 98.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $203K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.