Millennium-cudahy Inc

Nonprofit profile at a glance

EIN
392036326
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Rockford, IL, USA
Phone
8153973755
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$167,750
Expenses
$205,137
Assets
$668,705
Liabilities
$15,262

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

Leadership & pay

4 people listed

Executive titles in this filing

  • PERRY G HARENDA (PRESIDENT/TREASURER)

People named in this filing

  • JACK AHRENS (DIRECTOR)
  • THOMAS VAN VLEET (DIRECTOR/VP/SECRETARY)
  • JOHN CONSTANTINE (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 affordable housing for low-income elderly persons by owning, operating and managing a housing facility.

What it reported doing in 2024

To provide housing for low-income elderly persons in an apartment complex consisting of 12 apartment units located in cudahy, Wisconsin, and regulated under hud section 202.

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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 40
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.6%; rating input score 84
  • Program expense ratio: 68.3%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -22.3%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 3.26; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 83.6% of revenue deployed · 68.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $140K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 4 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 — Sustainability: Operating margin scored 13/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.