Liberty Corner Enterprises Inc

Nonprofit profile at a glance

EIN
561562650
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Asheville, NC, USA
Phone
8282549917
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Sheltered Employment

Reported finances

Revenue
$3,076,487
Expenses
$3,251,148
Assets
$509,204
Liabilities
$413,038

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Jennifer Waite (Executive Director)
  • Ray Hemachandra (President)
  • Karen Gray CPA (Vice-President)

Highest reported compensation

  • Jennifer Waite (Executive Director): $108,769 total reported compensation
  • Katherine Van Horne (Chief Financial Officer): $81,604 total reported compensation

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

Overview

Mission

LCE is an independent non-profit organization dedicated to supporting persons with developmental disabilities in their quest to achieve human dignity through living, working and playing in the homes, job and neighborhoods of their choice.

What it reported doing in 2024

Liberty Corner Enterprises has grown to provide an array of services to assist individuals with intellectual / developmental disablilties to live their best life. These supports and services include: Supported Living Supervised Living Alternative Family Living. Community Activities Supported Employment More than 50 individuals are served on an annual basis.

Operating model

Revenue model
Earned-program. 99% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 86
  • Accountability: 86
  • Sustainability: 17
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.4%; rating input score 84
  • Program expense ratio: 79.9%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th 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: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.7%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 12th percentile among comparable filings
  • Asset growth: -10.1% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 84.4% of revenue deployed · 79.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $109K · 5 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.