St Michael's Housing Inc

Nonprofit profile at a glance

EIN
592312821
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Seminole, FL, USA
Phone
7278931314
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,218,516
Expenses
$1,221,813
Assets
$2,000,083
Liabilities
$6,848,209

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • REV EDWIN PALKA (PRESIDENT)

Highest reported compensation

  • JAMES WAYNE (TREASURER): $120,780 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We are a hud subsidized and regulated apartment complex. Our mission is to provide affordable housing and other services to low-income elderly and/or handicapped individuals.

What it reported doing in 2025

82 apartments for low-income elderly persons under section 223(f) of the national housing act, hud regulated, section 8 rent subsidy.

Operating model

Revenue model
Grant-funded. 71% of the money available for current operations came from government grants.
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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 37
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.8%; rating input score 93
  • Program expense ratio: 92.5%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 64th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.3%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 1.64; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 3.42; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0.9%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 92.8% of revenue deployed · 92.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $121K · 7 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 3 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 — Sustainability: Operating margin scored 29/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.