Socayr Inc

Nonprofit profile at a glance

EIN
611352670
IRS 990 coverage
2015–2025
Forms available
Form 990 2025, Form 990-T 2024
Location
Louisville, KY, USA
Phone
5026389600
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$45,263,117
Expenses
$17,033,457
Assets
$101,485,246
Liabilities
$51,408,438

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • TRAVIS YATES (PRESIDENT)

People named in this filing

  • TRAVIS YATES (PRESIDENT)
  • BRANDIE BRYAN-FRANKFORTHER (TREASURER)
  • CHRISTOPHER REDMON (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization has been established to foster the empowerment of affordable housing.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 86
  • Accountability: 94
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.4%; rating input score 36
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 16th 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; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 62.4%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 5.96; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 16.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 21.9% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 16% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 36.4% of revenue deployed · 97.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $16.5M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Highest-paid contractors: 5 contractors listed · $5.9M reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 10 filing years from 2015 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 23 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.