Methodist Towers Inc

Nonprofit profile at a glance

EIN
237213451
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Erie, PA, USA
Phone
8144409577
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing
Affiliation
Christianity

Official website

Reported finances

Revenue
$28,006
Expenses
$23,315
Assets
$651,773
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JAMES REIM (PRESIDENT)

People named in this filing

  • REV ROBERT TRASK (DIRECTOR)
  • ROBERT ROGERS (DIRECTOR)
  • TRUDY SMITH (DIRECTOR)

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

To provide for affordable housing for low income and meet the physical, social and psychological needs of the elderly

What it reported doing in 2024

To provide for affordable housing for low income and meet the physical

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 76
  • Accountability: 64
  • Sustainability: 73
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 71.8%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 41.8%; rating input score 42; 44th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.7%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 27.96; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -12.5% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 34th percentile among comparable filings

Details

  • Where the money goes: 80% of revenue deployed · 71.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $23K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 42/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.