Ponderosa Apartments Inc

Nonprofit profile at a glance

EIN
237232223
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Spearfish, SD, USA
Phone
6056424744
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$3,403,861
Expenses
$3,848,781
Assets
$15,968,538
Liabilities
$18,889,899

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DARRIN DONAT (PRESIDENT)

People named in this filing

  • DARRIN DONAT (PRESIDENT)
  • MELISSA BARTH (SECRETARY/TREASURER)
  • CHRIS MITCHEL (MEMBER)

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 housing and related facilities for the elderly and disabled persons of the area. Based upon their respective incomes, rural development provides rental assistance for the low and very low income persons for most buildings

What it reported doing in 2024

Ponderosa apartments, inc provides and operates 6 apartment complexes with a total of 420 units for eligible elderly occupants as determined by rural development guidelines. This also includes subsidized meal service for the elderly.

Operating model

Revenue model
Earned-program. 91% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.6%; rating input score 99
  • 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; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: -13.1%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 4.15; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 1.18; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.8M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 3 contractors listed · $1.5M reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.