Lifespring Manor House Ii Apartments Inc

Nonprofit profile at a glance

EIN
351774256
IRS 990 coverage
2012–2013
Forms available
Form 990 2013, Form 990-EZ 2011
Location
Jeffersonville, IN, USA
Phone
8122061344
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$-6,963
Expenses
$163,243
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • JEFFERY CALDWELL (PRESIDENT)
  • PHILLIP BATES (VICE PRESIDENT)

People named in this filing

  • JEFFERY CALDWELL (PRESIDENT)
  • PHILLIP BATES (VICE PRESIDENT)
  • JOHN ELLIOTT (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. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Lifespring manor house ii apartments, inc., an Indiana not-for-profit corporation, was organized to construct, own and operate a 12-unit apartment community in jeffersonville, Indiana, known as manor house ii apartments, pursuant to section 202 of the national affordable housing act, as amended. Standard fha regulatory agreements governing the operation of the community have been entered into with the federal housing administration section of hud. The corporation has also entered into a housing assistance payment contract with hud. The hap 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
Hybrid. The nonprofit split its reported program spending across 0% for direct work, 58% for grants, and 42% for affiliated organizations.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 9
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 70.5%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2,444.4%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -4.8% per year; rating input score 0; 49th percentile among comparable filings
  • Asset growth: -21.5% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 70.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $115K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 2 filing years from 2012 to 2013
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 6 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.