Permian Basin Apartment Association

Nonprofit profile at a glance

EIN
751875806
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2012
Location
Midland, TX, USA
Phone
4329941373
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$307,490
Expenses
$266,745
Assets
$211,887
Liabilities
$4,635

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

Leadership & pay

13 people listed

Executive titles in this filing

  • SYLVIA LACY (EXECUTIVE DIRECTOR)
  • MICHELLE ROBINSON (PRESIDENT)
  • JAYCE RODRIGUEZ (VICE PRESIDENT)

Highest reported compensation

  • SYLVIA LACY (EXECUTIVE DIRECTOR): $58,718 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Cultivate good business practice for the multi-housing industry

What it reported doing in 2024

Recommend improvement of business and mgmt operations, to work in association with other business organizations on promotion of the multi- housing industry and to make available necessary forms and literature required in rental of multi-housing units

Operating model

Revenue model
Membership-supported. 85% of the money available for current operations came from membership dues.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 100
  • Accountability: 63
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.1%; rating input score 65
  • Program expense ratio: 74.7%; rating input score 75
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 13.3%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 22%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 0.8% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 65.1% of revenue deployed · 74.7% of spending went to programs
  • Governance: 13 of 13 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $199K in reported program spending
  • Leadership: top reported pay $59K · 13 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: 6 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.