St Joseph Apartments Inc

Nonprofit profile at a glance

EIN
411526139
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
St Cloud, MN, USA
Phone
3206501550
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$215,941
Expenses
$132,858
Assets
$587,430
Liabilities
$597,249

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

Leadership & pay

5 people listed

Executive titles in this filing

  • STEVEN BRESNAHAN (BOARD PRESIDENT)
  • RENAE STERNKE (BOARD VICE PRESIDENT)

People named in this filing

  • STEVEN BRESNAHAN (BOARD PRESIDENT)
  • RENAE STERNKE (BOARD VICE PRESIDENT)
  • TONYA SCHMIDT (BOARD SECRETARY/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

Provide on a non-profit basis, housing for low and moderate income families.

What it reported doing in 2024

We provided 28 housing units to low and moderate income families, on a non-profit basis.

Operating model

Revenue model
Other-operating. 72% of the money available for current operations came from other operating 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 and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 72
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46.4%; rating input score 46
  • Program expense ratio: 72.9%; rating input score 73
  • Fundraising efficiency: Limited

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: 1 of 7 controls in place; rating input score 14
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 38.5%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 4.42; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 1.02; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 46.4% of revenue deployed · 72.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $97K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 5 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.