NC Elderly Housing Inc

Nonprofit profile at a glance

EIN
581735481
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Duluth, GA, USA
Phone
6783302000
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$538,717
Expenses
$448,299
Assets
$472,569
Liabilities
$488,127

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Gerald Eickhoff (President)
  • Joseph F Glenn (Vice President)
  • Earleen S Abernathy from Oct 2024 (Vice President/Asst Secretary)

People named in this filing

  • Gerald Eickhoff (President)
  • Joseph F Glenn (Vice President)
  • Earleen S Abernathy from Oct 2024 (Vice President/Asst Secretary)

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 own and operate a rental housing property for low-income elderly persons under section 202 of the National Housing Act.

What it reported doing in 2024

Operation & maintenance of an apartment complex for low-income elderly persons in accordance with the requirements of the Department of Housing and Urban Development.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 57
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.9%; rating input score 72
  • Program expense ratio: 87.4%; rating input score 87
  • 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; 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.8%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 1.03; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -3.2% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 71.9% of revenue deployed · 87.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $392K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 44 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 — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.