Sweet Union Apartments Trust

Nonprofit profile at a glance

EIN
751301186
IRS 990 coverage
2009–2011
Forms available
Form 990 2011
Location
Waco, TX, USA
Phone
2547530105
Rating confidence
Limited
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$599,594
Expenses
$500,637
Assets
$550,293
Liabilities
$292,535

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide low income housing

What it reported doing in 2011

The operation of a 100 unit low income housing project with a mortgage guaranteed under section 212 of the national housing act with most of its tenants receiving section 8 housing assistance

Operating model

Revenue model
Grant-funded. 62% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 65
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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; 64th 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: 16.5%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 1.1; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 86; 86th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.5% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $407K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2009 to 2011
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.