Peterborough Apartments Inc

Nonprofit profile at a glance

EIN
591843130
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
St Petersburg, FL, USA
Phone
7275781174
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$4,458
Expenses
$724
Assets
$265,286
Liabilities
$635

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MS VIRGINIA ROWELL (PRESIDENT)

People named in this filing

  • WILLIAM B HARVARD JR (DIRECTOR)
  • HERB POLSON (DIRECTOR)
  • GAIL MCCOY (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

Provide affordable housing for the elderly.

What it reported doing in 2024

This organization provides affordable housing to the elderly by acting as general partner for peterborough 2, ltd (30-0780865) which owns the hud subsidized elderly housing. This organization holds a $250,000 "guaranty reserve" cash and a note receivable, beginning balance of $800,000 plus accrued interest as part of redevelopment financing of the elderly housing. The note receivable was paid in full during 2021.

Operating model

Revenue model
Earned-program. 100% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 85
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.2%; rating input score 16
  • Program expense ratio: 100%; rating input score 100
  • 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: 5 of 7 controls in place; rating input score 71
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 83.8%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 366.42; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -25.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -19.5% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: -20.7% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 16.2% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $724 in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 16/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.