Summit Hill Community Development Corporation

Nonprofit profile at a glance

EIN
301112000
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Bloomington, IN, USA
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$1,094,075
Expenses
$265,616
Assets
$1,702,732
Liabilities
$874,273

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

Leadership & pay

1 person listed

Executive titles in this filing

  • Kate Gazunis (Executive Director)

People named in this filing

  • Kate Gazunis (Executive Director)

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

Summit Hill Development Corporation is a nonprofit wholly controlled subsidiary of the Bloomington Housing Authority for the tax-exempt purpose of providing and developing affordable housing.

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 - 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: 47
  • Transparency & Controls: 91
  • Accountability: 76
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 24.2%; rating input score 24
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • 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: 75.7%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 6.41; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 41% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 67.1% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 73.6% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 24.2% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 24/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.