Liberty Woods Senior Housing Cooperative Inc

Nonprofit profile at a glance

EIN
383257987
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Spring Lake, MI, USA
Phone
6168441980
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$392,806
Expenses
$459,945
Assets
$971,621
Liabilities
$150,284

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

Leadership & pay

14 people listed

Executive titles in this filing

  • MIKE ZEEFF (VICE PRESIDENT (ENDED 4/25/24))
  • RICH BARTREM (PRESIDENT (ENDED 4/25/24))
  • JOYCE YONKER (VICE PRESIDENT)
  • NEWELL CARTER (PRESIDENT)

People named in this filing

  • DAVE PLOOSTER (DIRECTOR (ENDED 3/25/25))
  • DIANE LINDQUIST (DIRECTOR (ENDED 4/25/24))
  • JIM LAMANCUSA (DIRECTOR (ENDED 5/02/24))

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, develop, manage, and operate a housing cooperative for senior citizens.

What it reported doing in 2024

Operated a 45-unit housing cooperative for senior citizens.

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

STRONG - 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: 88
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 36
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.9%; rating input score 96
  • 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.1%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 2.11; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: -5.9% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $441K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2016 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.