Mace Apartments
Nonprofit profile at a glance
- EIN
- 204044976
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Cookeville, TN, USA
- Phone
- 9314324111
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $82,134
- Expenses
- $132,534
- Assets
- $797,461
- Liabilities
- $41,772
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- MARIE FERRAN (SECRETARY/TREASURER)
- MARVIN LUSK (DIRECTOR)
- HOLLY WILLIAMS (CHAIRPERSON)
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
This property has a commitment to serve the elderly through affordable housing and makes every effort to provide an environment conducive to the well being of the person.
What it reported doing in 2024
The organization operates a 10-unit apartment complex for the elderly with rental assistance provided by hud based on income level.
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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and assets have declined or grown slowly.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 37
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 90.9%; rating input score 91
- 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; 64th percentile among comparable filings
- Governance controls: 7 of 7 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -61.4%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 6.02; rating input score 53; 53rd percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings
Growth
- Program expense growth: 3.3% per year; rating input score 100; 61st percentile among comparable filings
- Revenue growth: 3.7% per year; rating input score 100; 74th percentile among comparable filings
- Asset growth: -3.3% per year; rating input score 0; 25th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 90.9% of spending went to programs
- Governance: 3 of 3 board members independent · 7 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $120K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Related organizations: 16 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Operating margin scored 26/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 53/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.