Spirit Canyon Apartments Inc

Nonprofit profile at a glance

EIN
460345662
IRS 990-EZ coverage
2015–2024
Forms available
Form 990 2014, Form 990-EZ 2024, Form 990-N 2020
Location
Sioux Falls, SD, USA
Phone
6052020413
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nursing, Convalescent Facilities

Reported finances

Revenue
$60,109
Expenses
$54,921
Assets
$61,902
Liabilities
$383,062

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

Leadership & pay

4 people listed

Executive titles in this filing

  • ORAN SORENSON (PRESIDENT)
  • RHONDA KIRTON (VICE PRESIDENT)

People named in this filing

  • ORAN SORENSON (PRESIDENT)
  • RHONDA KIRTON (VICE PRESIDENT)
  • ETHYL KURTZ (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To assist residents to reach their highest level of independence in a safe, home-like environment by providing income based housing for the elderly, handicapped, and disabled.

What it reported doing in 2024

Provide subsidized housing for all qualified tenants. Apartment community room used for pot lucks, gatherings and senior citizen card games with the local community.

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 - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 82
  • Sustainability: 50
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.4%; rating input score 56
  • Program expense ratio: 62.4%; rating input score 62

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 8.6%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 1.13; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 6.19; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 25.6% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: -28.8% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -17.5% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 56.4% of revenue deployed · 62.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $34K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2015 to 2024
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.