Perry Lake Nonprofit Housing Corporation

Nonprofit profile at a glance

EIN
383520396
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Troy, MI, USA
Phone
2489280111
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$80,730
Expenses
$87,921
Assets
$451,159
Liabilities
$611,002

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

Leadership & pay

9 people listed

Executive titles in this filing

  • KEVIN WIEDELMAN (PRESIDENT)
  • DEREK GIRTON (VICE PRESIDENT)

People named in this filing

  • KEVIN WIEDELMAN (PRESIDENT)
  • DEREK GIRTON (VICE PRESIDENT)
  • PHILIP CLARK (SECRETARY/TREASURER)

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 low income housing to individuals with disabilities.

What it reported doing in 2024

Perry lake non-profit housing corporation is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of Michigan. The corporation was formed for the purpose of operating two residences known as springhill housing i located in the metro detroit area, which provides housing for persons with developmental disabilities pursuant to section 811 of the national housing act, as amended.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
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. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 44
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.1%; rating input score 72
  • Program expense ratio: 66.2%; rating input score 66
  • 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: Yes; rating input score 100
  • 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: -8.9%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 5.13; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 1.35; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -1.4% per year; rating input score 0; 47th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 34th percentile among comparable filings

Details

  • Where the money goes: 72.1% of revenue deployed · 66.2% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $58K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 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 — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.