Sandy Run Missionary Baptist Church Apts

Nonprofit profile at a glance

EIN
561053910
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Jacksonville, NC, USA
Phone
3367650424
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management
Affiliation
Christianity

Reported finances

Revenue
$2,128,005
Expenses
$1,890,565
Assets
$6,525,160
Liabilities
$7,016,611

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JACOB EVANS (PRESIDENT)
  • TYRONE MAXWELL (VICE PRESIDENT)

People named in this filing

  • JACOB EVANS (PRESIDENT)
  • TYRONE MAXWELL (VICE PRESIDENT)
  • JOSELYN HILLMON (SECRETARY)

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

Sandy run missionary baptist church apartments i, inc. Is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of North Carolina. The corporation was formed for the purpose of rehabilitating and operating a 152 unit community known as sandy run apartments in jacksonville, North Carolina, which provides housing for individuals with low and moderate income, pursuant to section 221(d)(3) of the national housing act, as amended. The community is financed under section 221(d)(3) of the national housing act, as amended. The corporation has entered into a regulatory agreement governing the operation of the community with the federal housing administration section of hud. The corporation leases apartment units to low income families (or persons) in the normal course of business. The corporation has also entered into a housing assistance payment contract with hud. The contract is a section 8 rent assistance program for low income families.

What it reported doing in 2024

Sandy run missionary baptist church apartments i, inc. (the corporation) is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of North Carolina. The corporation was formed for the purpose of rehabilitating and operating a 152 unit community known as sandy run apartments located in jacksonville, North Carolina, which provides housing for individuals with low and moderate income, pursuant to section 221(d)(3) of the national housing act, as amended. The community is financed under section 221(d)(3), pursuant to section 223(a)(7) of the national housing act, as amended. The corporation has entered into a regulatory agreement governing the operation of the community with the federal housing administration section of hud. The corporation leases apartment units to low income families (or persons) in the normal course of business. The corporation has also entered into a housing assistance payment contract (hap contract) with hud. The hap contract is a rent assistance program for low income families (or persons) as provided by the section 8 program of the national housing act, as amended.

Operating model

Revenue model
Grant-funded. 72% of the money available for current operations came from government grants.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.2%; rating input score 74
  • Program expense ratio: 84.2%; rating input score 84
  • 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: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.2%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 3.45; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 1.08; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 74.2% of revenue deployed · 84.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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: Liabilities to assets ratio scored 4/100.