Spring Lake Presbyterian Housing Co

Nonprofit profile at a glance

EIN
382300194
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Spring Lake, MI, USA
Phone
6164594556
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults
Affiliation
Christianity

Reported finances

Revenue
$798,614
Expenses
$792,093
Assets
$5,431,164
Liabilities
$5,651,705

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

Leadership & pay

10 people listed

Executive titles in this filing

  • SARAH BULTHUIS (PRESIDENT)

People named in this filing

  • SARAH BULTHUIS (PRESIDENT)
  • BARB SKENDROVIC (TREASURER)
  • CRAIG THOM (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide elderly and/or handicapped persons with low-cost housing facilities and services specifically designed to meet their needs.

What it reported doing in 2024

To provide elderly and/or handicapped persons with housing facilities and services specially designed to meet their physical, social, and psychological needs and to promote their health, security, happiness, and usefulness through longer living. The charges for such facilities and services are based on a breakeven basis. The complex has room for 60, with occupancy at nearly 100% throughout the year.

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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 86
  • Accountability: 76
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.3%; rating input score 80
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.8%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 6.86; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 1.04; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 43.2% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 80.3% of revenue deployed · 80.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $638K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.