Luther Lakeside Apartments Inc

Nonprofit profile at a glance

EIN
391409024
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
Eau Claire, WI, USA
Phone
5075381297
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Community Health Systems

Reported finances

Revenue
$270,663
Expenses
$217,650
Assets
$595,795
Liabilities
$815,804

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • LINTON MD RANDALL L (PRESIDENT/DIRECTOR/CEO)

Highest reported compensation

  • LINTON MD RANDALL L (PRESIDENT/DIRECTOR/CEO): $637,348 total reported compensation
  • DICKEY JOHN M (CAO): $453,269 total reported compensation
  • BAMMEL PAUL M (CFO): $413,976 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

None.

What it reported doing in 2014

Luther lakeside apartments, inc. (the association) is a 46-unit apartment project for the elderly located in eau claire, Wisconsin. The association is operated under section 202 of the national housing act and regulated by the u.s. Department of housing and urban development (hud) with respect to rental charges and operating methods.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 65
  • Accountability: 32
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.5%; rating input score 64
  • Program expense ratio: 80.1%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 22nd 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.6%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 2.74; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 1.37; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 141.1%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -5.5% per year; rating input score 0; 31st percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 64.5% of revenue deployed · 80.1% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $174K in reported program spending
  • Leadership: top reported pay $637K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Related organizations: 58 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.