Smith-keys Village Apartments

Nonprofit profile at a glance

EIN
710418448
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Memphis, TN, USA
Phone
6152594332
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$600,246
Expenses
$692,474
Assets
$674,255
Liabilities
$316,548

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

6 people listed

People named in this filing

  • DR JEANETTE BOUKNIGHT (ATTRONEY)
  • MS PINE' GOSHAY (MEMBER)
  • BISHOP WILLIAMS GRAVES (MEMBER)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide low-income housing.

What it reported doing in 2022

To provide low income housing

Operating model

Revenue model
Grant-funded. 79% 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

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: 83
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98%; rating input score 98
  • Program expense ratio: 84.9%; rating input score 85
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -15.4%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.47; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 25th percentile among comparable filings
  • Revenue growth: -2.2% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 98% of revenue deployed · 84.9% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $588K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2010 to 2022
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.