Lumber Square Nonprofit Housing Corporation
Nonprofit profile at a glance
- EIN
- 923133226
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Boyne City, MI, USA
- Phone
- 2315826244
- Rating
- 59
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $2,985,923
- Expenses
- $424
- Assets
- $6,928,477
- Liabilities
- $3,942,978
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- JANE MACKENZIE (PRESIDENT)
Highest reported compensation
- JANE MACKENZIE (PRESIDENT): $113,171 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
This development is designed to meet the needs of our "missing middle or middle-income community members. These are people who work here but still can't find an affordable place to live near their workplaces and schools. The lofts at lumber square will provide a safe, affordable place to live for households earning between 70%-120% of area median income.
What it reported doing in 2024
Started construction of the lofts at lumber square, a 60 unit apartment project for middle income households.
Operating model
- Revenue model
- Donor-supported. 67% of the money available for current operations came from contributions and gifts.
- 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 33
- Transparency & Controls: 92
- Accountability: 69
- Sustainability: 79
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 100%; rating input score 100
- 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: 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 8 controls in place; rating input score 25
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- 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: 100%; rating input score 100; 100th percentile among comparable filings
- Total-asset coverage ratio: 16,340.75; rating input score 100; 100th percentile among comparable filings
- Liabilities to assets ratio: 0.57; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 6,367.9%; rating input score 0; 0th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 0% of revenue deployed · 100% of spending went to programs
- Governance: 4 of 4 board members independent · 2 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $424 in reported program spending
- Leadership: top reported pay $113K · 4 people listed
- Consistency: 16 of 16 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Contacts: How to reach this organization
- Related organizations: 1 filed related-organization link
- 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Accountability: Governance controls: 5 of 7 not reported.
- High — Sustainability: Officer compensation ratio scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 18/100.