Prairie Place on 1St Inc

Nonprofit profile at a glance

EIN
474394134
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Mason City, IA, USA
Phone
6414241740
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$240,732
Expenses
$272,540
Assets
$5,814,809
Liabilities
$5,717,681

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

Leadership & pay

23 people listed

Executive titles in this filing

  • IAN STOCKBERGER (CEO)

Highest reported compensation

  • IAN STOCKBERGER (CEO): $313,188 total reported compensation
  • KIMBER KLEVEN (ADMINISTATOR): $177,918 total reported compensation

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

Overview

Mission

To promote the common good and general social welfare of the community of mason city, Iowa through downtown urban renewal projects that will provide affordable and accessible housing in the downtown area and priority access to a continuum of care to individuals 55 years of age and older who desire optimum independence and an active lifestyle without discrimination as to race, religion, sex, national origin or disability

What it reported doing in 2024

Provide affordable and accessible housing in the downtown area of mason city, Iowa and priority access to a continuum of care to individuals age 55 years and older who desire optimum independence and an active lifestyle without discriminationas to race, religion, sex, national origin or disability. (32 units)

Operating model

Revenue model
Earned-program. 98% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.6%; rating input score 95
  • Program expense ratio: 83.5%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.2%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 21.34; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.98; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 13.6% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: -3% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 94.6% of revenue deployed · 83.5% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $228K in reported program spending
  • Leadership: top reported pay $313K · 23 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.