Southern Pines Land & Housing Trust

Nonprofit profile at a glance

EIN
320282058
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Southern Pines, NC, USA
Phone
9103159252
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$332,032
Expenses
$304,937
Assets
$1,036,028
Liabilities
$0

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

Leadership & pay

9 people listed

People named in this filing

  • VINCENT GORDON (BOARD CHAIR)
  • BILL ROSS (VICE CHAIR)
  • DEON ALLBROOKS (TREASURER)

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

The mission is to preserve and enhance the west southern pines communitys social and economic conditions through property ownership, education, and opportunity.

What it reported doing in 2024

Formerly the playground of the campus of the southern pines primary school, blanchie carter park has been added to the towns list of public parks. In order to open the park to the public, splht had to replace the aging playground equipment that was deemed unsafe for children. In 2023, enouth funds were raised at our annual fundraiser to purchase new equipment for the playground. We installed the equipment late 2023, and officially opened to the public in july 2024. The equipment was capitalized.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 16
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 15.2%; rating input score 15
  • Program expense ratio: 14.5%; rating input score 14
  • Fundraising efficiency: $5.26 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

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: 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • 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: 8.2%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 3.4; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 92.8% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 11.5% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 11% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 15.2% of revenue deployed · 14.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $44K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 15/100.
  • High — Financial Efficiency: Program expense ratio scored 14/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • Review — Sustainability: Operating margin scored 57/100.