Spartanburg Residential Development
Nonprofit profile at a glance
- EIN
- 570875989
- IRS 990-EZ coverage
- 2010–2010
- Forms available
- Form 990 2009, Form 990-EZ 2010
- Location
- Spartanburg, SC, USA
- Phone
- 8645839191
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $4,277
- Expenses
- $55,104
- Assets
- $437,431
Source: IRS Form 990-EZ. Selected filing: tax year 2010. Amounts in USD.
Leadership & pay
20 people listed
Source: IRS Form 990-EZ. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To assist low and moderate income residents of the city of spartanburg to bcome homeowners by promoting the growth of residential housing within the city, by encouraging the construction of new housing and renovation of exisiting housing for low and moderate income citizens, and by providing low interest loans for low and moderate income residents of the city to enable such citizens to purchase existing homes for owner occupancy, and to assist in the payment of closing costs in connection with loans which are made to eligible recipients.
Operating model
- Revenue model
- Earned-program. 89% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 92
- Transparency & Controls: 82
- Sustainability: 27
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 78.5%; rating input score 79
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 50th percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -1,188.4%; rating input score 2; 2nd percentile among comparable filings
- Total-asset coverage ratio: 7.94; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: Limited
Growth
- Program expense growth: Limited
- Revenue growth: -44.4% per year; rating input score 0; 16th percentile among comparable filings
- Asset growth: -14.8% per year; rating input score 0; 25th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 78.5% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $43K in reported program spending
- Leadership: top reported pay $0 · 20 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- 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 — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 2/100.
- High — Growth: Asset growth scored 0/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.