Southgate Properties

Nonprofit profile at a glance

EIN
383163460
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2020
Location
Southgate, MI, USA
Phone
7347857700
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,884,394
Expenses
$2,411,479
Assets
$16,590,284
Liabilities
$1,256,649

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

Leadership & pay

9 people listed

Executive titles in this filing

  • LAURA HUOT (CEO/PRESIDENT)
  • KARI D WALKER (CEO/PRESIDENT (THRU 09/2024))

Highest reported compensation

  • KARI D WALKER (CEO/PRESIDENT (THRU 09/2024)): $382,269 total reported compensation
  • LAURA HUOT (CEO/PRESIDENT): $341,639 total reported compensation
  • GARY GUETSCHOW (CHIEF FINANCIAL OFFICER): $258,992 total reported compensation

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

Overview

Mission

To provide facilities and building services to related tax-exempt organizations.

What it reported doing in 2024

Provides rental facilities to related tax-exempt organizations.

Operating model

Revenue model
Earned-program. 99% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 67
  • Accountability: 82
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.7%; rating input score 78
  • Program expense ratio: 94%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.4%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 6.88; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 12th percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 77.7% of revenue deployed · 94% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $382K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.