Sunny Side Development Ltd

Nonprofit profile at a glance

EIN
825451776
IRS 990-EZ coverage
2018–2024
Forms available
Form 990-EZ 2024
Location
Madison, WI, USA
Phone
6082398500
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$178,156
Expenses
$88,088
Assets
$97,806

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Nathan Noordhoek (President)

People named in this filing

  • Nathan Noordhoek (President)
  • Samantha Hock (Secretary)
  • Norman Bair (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordable, sustainable housing to low-income households in Wisconsin.

What it reported doing in 2024

In 2024, Sunny Side Development made significant progress on its existing developments. Greenspire, the 92-unit public housing project in Stoughton, began construction in July and had completed all units and roughly half of common area improvements by 12/31/2024. Next for Greenspire is a 740kW solar array (all roofs and 4 carports) and outdoor landscaping. The project is on schedule to be fully completed by mid-2025. Edgerton Retirement Apartments made similar progress in 2024, with approximately 70% of construction finished by 12/31/2024. Finally, Zapata Cooperative finished all construction in 2024. The number of units for each project is 92, 24, and 12, respectively.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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 a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 82
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.2%; rating input score 43
  • Program expense ratio: 87.4%; rating input score 87

Transparency & Controls

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

Sustainability

  • Operating margin: 50.6%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 1.11; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 79.5%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 73% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 61% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 52.9% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 43.2% of revenue deployed · 87.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $77K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 43/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.