Lifespring Residential Ser Inc D/b/a Manor House Apartments

Nonprofit profile at a glance

EIN
311140517
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
New Albany, IN, USA
Phone
8122061344
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$219,106
Expenses
$168,553
Assets
$413,719
Liabilities
$274,804

Source: IRS Form 990. 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 (EFF. 5/5/25))

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

Overview

Mission

Lifespring residential services, inc was organized to construct, own and operate a 20 unit apartment community in new albany, Indiana, known as manor house apartments, pursuant to section 202 of the national affordable housing act, as amended. 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
Grant-funded. 68% of the money available for current operations came from government grants.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 64
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.9%; rating input score 66
  • Program expense ratio: 85.7%; rating input score 86
  • 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: 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 23.1%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 2.45; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -25.2% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 65.9% of revenue deployed · 85.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $144K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.