Midway Apartments Inc

Nonprofit profile at a glance

EIN
421495047
IRS 990 coverage
2012–2025
Forms available
Form 990 2025, Form 990-N 2011
Location
Cedar Rapids, IA, USA
Phone
3193640259
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$81,697
Expenses
$116,333
Assets
$383,777
Liabilities
$695,233

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • ASHLEY BAILUS (DIRECTOR)
  • ALICIA FAUST (DIRECTOR)
  • THERESA GRAHAM-MINEART (BOARD CHAIR/)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide mentally disabled persons with housing facilities specially designed to meet their needs.

What it reported doing in 2025

To provide mentally disabled persons with housing facillities specially designed to meet their needs. The oerganization rented 10 units to individuals and families in need during the year.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 33
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76.5%; rating input score 77
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • 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: Fail

Sustainability

  • Operating margin: -42.4%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 3.3; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 1.81; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 7.2% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 28th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $89K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2012 to 2025
  • 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.

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 27/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.