Lifespring Center Place Ii Inc D/b/a Center Place Ii Apartments

Nonprofit profile at a glance

EIN
351814300
IRS 990-EZ coverage
2010–2024
Forms available
Form 990-EZ 2024
Location
New Albany, IN, USA
Phone
8122061344
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$52,565
Expenses
$70,039
Assets
$188,203
Liabilities
$35,195

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JOE KIMMEL (PRESIDENT)
  • JEFFERY CALDWELL (VICE PRESIDENT (RESIGNED 3/6/25))
  • RENEE BAINES (VICE PRESIDENT (EFFECTIVE 5/15/25))

People named in this filing

  • JOE KIMMEL (PRESIDENT)
  • JEFFERY CALDWELL (VICE PRESIDENT (RESIGNED 3/6/25))
  • NICK CLARK (SECRETARY/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Lifespring centerplace ii, inc. Was organized to construct, own and operate a 10 unit apartment community in jeffersonville, Indiana, known as centerplace ii apartments, pursuant to section 811 of the national affordable housing act, as amended. The corporation has executed the standard regulatory agreements with hud which governs the operations of the community with the federal housing administration section of hud. In addition, the corporation has entered into a project rental assistance contract with hud. The prac contract is a rent assistance program for low income families or persons as provided by section 8 program of the national housing act.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 100
  • Sustainability: 37
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78%; rating input score 78
  • Program expense ratio: 60.7%; rating input score 61

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -33.2%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 2.69; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: -0.5% per year; rating input score 0; 36th percentile among comparable filings

Details

  • Where the money goes: 78% of revenue deployed · 60.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $43K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Sustainability: Operating margin scored 17/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.