Loyal Heights Manor C/o Coast Real Estate Services Inc

Nonprofit profile at a glance

EIN
911044719
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Everett, WA, USA
Phone
8003393634
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$1,403,319
Expenses
$1,558,391
Assets
$6,579,859
Liabilities
$7,200,579

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

Leadership & pay

6 people listed

Executive titles in this filing

  • ROBERT REETZ (PRESIDENT)
  • LARS EGGEHORN (VICE-PRESIDENT)
  • SAMUEL BRODLAND (VICE-PRESIDENT)

People named in this filing

  • ROBERT REETZ (PRESIDENT)
  • AMY TURNBULL (SECRETARY)
  • LARS EGGEHORN (VICE-PRESIDENT)

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 provide elderly or persons of disability on a nonprofit basis, rental housing and related facilities to meet their physical and social needs and contribute to their health, security, happiness and usefulness in longer living.

What it reported doing in 2024

Loyal heights is a non-profit Washington state corporation incorporated on october 4, 1978, which holds legal title to the project. The project is a 54-unit apartment complex for low-income elderly and persons of disability located in seattle, Washington. The project is operated under housing and urban development (hud) section 202 and section 8. The project's major program is its section 202 direct loan program. The project also is subject to section 8 housing assistance payments agreements with hud, and a significant portion of the project's rental income is received from hud.

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 63% for direct work, and 37% for grants.

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: 94
  • Accountability: 76
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.1%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 3 of 7 controls in place; rating input score 43
    • 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: Pass

Sustainability

  • Operating margin: -11.1%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 4.22; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 1.09; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 9.8% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 12.8% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.