Lutheran Housing Corporation of Adrian

Nonprofit profile at a glance

EIN
383258344
IRS 990 coverage
2010–2011
Forms available
Form 990 2011
Location
Detroit, MI, USA
Rating confidence
Limited
Sector
Housing Development, Construction, Management
Affiliation
Christianity

Official website

Reported finances

Revenue
$721,445
Expenses
$731,103
Assets
$2,188,933
Liabilities
$1,201,828

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

6 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Organization operates a 114-unit apartment complex subsidized by HUD that provides elderly and or handicapped persons with housing facilities and services specially designed to meet their needs

What it reported doing in 2011

Provided elderly and or handicapped persons with housing facilities and services specially designed to meet their physical social and psychological needs and promote their health security happiness and usefulness through longer living charges for such facilities and services are based on a breakeven basis The project is a 114-unit apartment complex

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 64
  • Accountability: 92
  • Sustainability: 43
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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: 85.7%; rating input score 86; 19th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.3%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 2.99; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.55; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 16.5%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -7.8% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: -6.2% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $577K in reported program spending
  • Leadership: top reported pay $429K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2010 to 2011
  • 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.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.