Residential Opportunities Inc

Nonprofit profile at a glance

EIN
521404696
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Farmville, VA, USA
Phone
4343927049
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$157,239
Expenses
$151,428
Assets
$156,052
Liabilities
$309,814

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

Leadership & pay

5 people listed

Executive titles in this filing

  • NEMIAH BRAXTON (VICE-PRESIDENT)
  • SHARON SMITH (PRESIDENT)

People named in this filing

  • NEMIAH BRAXTON (VICE-PRESIDENT)
  • PAMELA DECAMP (SECRETARY/TREASURER)
  • SHARON SMITH (PRESIDENT)

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 section 202 housing

What it reported doing in 2024

Timberlake village apartments project- a rental housing project to house elderly families and elderly persons in accordance with section 202, national housing act of 1959.

Operating model

Revenue model
Other-operating. 61% of the money available for current operations came from other operating 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 the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 83
  • Accountability: 70
  • Sustainability: 43
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.8%; rating input score 71
  • Program expense ratio: 73.4%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: 3.7%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 1.99; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -0.8% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: 2.7% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 70.8% of revenue deployed · 73.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $111K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.