Promise Homes Inc

Nonprofit profile at a glance

EIN
631126698
IRS 990 coverage
2011–2011
Forms available
Form 990 2011
Location
Madison, AL, USA
Phone
2056081040
Rating confidence
Limited
Sector
Housing Support

Reported finances

Revenue
$2,146,205
Expenses
$2,233,030
Assets
$524,230
Liabilities
$615,957

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

18 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promise homes is a compassionate and effective leader in the field of providing housing, care, and lifelong learning to adults with developmental disabilities.

What it reported doing in 2011

The day activity center has staff who works one-on-one with clients to work on specific life and social skills, carry out enrichment activities, and to simply have a place in a sheltered setting to make progress toward achieving learning goals.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 84
  • Sustainability: 21
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th 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; 65th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 1.17; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 15 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.7M in reported program spending
  • Leadership: top reported pay $71K · 18 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.