Ltc Ii Inc

Nonprofit profile at a glance

EIN
351862757
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Muncie, IN, USA
Phone
7652881928
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$117,897
Expenses
$128,055
Assets
$258,806
Liabilities
$856,357

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

Leadership & pay

5 people listed

Executive titles in this filing

  • SETH WARREN (PRESIDENT)
  • LISA SUTTLE (VICE PRESIDENT)

Highest reported compensation

  • SETH WARREN (PRESIDENT): $758,114 total reported compensation
  • SCOTT RIGGS (TREASURER): $431,827 total reported compensation
  • LISA SUTTLE (VICE PRESIDENT): $316,209 total reported compensation

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

Overview

Mission

Section 811 housing

What it reported doing in 2024

The organization owns and maintains a 20 unit section 811 housing project

Operating model

Revenue model
Earned-program. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 60
  • Accountability: 77
  • Sustainability: 29
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 73.7%; rating input score 74
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.6%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 2.02; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 3.31; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 146.4%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: -4.5% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 80% of revenue deployed · 73.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $94K in reported program spending
  • Leadership: top reported pay $758K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.