Sloan Street Housing Development Corporation Inc

Nonprofit profile at a glance

EIN
570856141
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Anderson, SC, USA
Phone
8642253370
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$157,786
Expenses
$162,588
Assets
$656,370
Liabilities
$925,684

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

Leadership & pay

10 people listed

Executive titles in this filing

  • DOUGLAS A WRIGHT (PRESIDENT/CE)

Highest reported compensation

  • DOUGLAS A WRIGHT (PRESIDENT/CE): $96,319 total reported compensation

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

Overview

Mission

Provides housing for low income elderly persons by operating a hud assisted apartment community regulated under section 202 of the national housing act of 1959.

Operating model

Revenue model
Earned-program. 96% 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 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: 73
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 37
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 82.5%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 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: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 4.04; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 1.41; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 8.2% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 82.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $134K in reported program spending
  • Leadership: top reported pay $96K · 10 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 7 filing years from 2018 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: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.