Tallahassee Lenders' Consortium Inc

Nonprofit profile at a glance

EIN
593212709
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Tallahassee, FL, USA
Phone
8502226609
Rating
92
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Expense Reduction Support

Reported finances

Revenue
$2,243,437
Expenses
$2,610,746
Assets
$3,491,145
Liabilities
$2,040,209

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

Leadership & pay

12 people listed

Executive titles in this filing

  • GREG LANE (PRESIDENT)
  • BRENDA HAWKINS (VICE PRESIDENT)
  • KAREN MILLER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KAREN MILLER (EXECUTIVE DIRECTOR): $100,311 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Tlc's mission is to provide client-focused comprehensive housing services and to promote and engage in resident-driven neighborhood revitalization.

What it reported doing in 2024

Counseling for one on one counseling (prepurchase, delinquency, foreclosure, and reverse mortgage) we conducted 251 counseling sessions. For group counseling (orientation, financial literacy, prepurchase education and post purchase education) we served approximately 792 households. Counseling services are expanding to include the following: hecm counseling (reverse mortgage counseling for seniors) certified staff to provide hecm counseling to seniors (62 years or older) who are interested in securing a revenue morgage loan. Tlc does not offer the loan. Hud requires that all seniors receive counseling prior to getting a hecm loan. Tlc will provide the counseling.

Operating model

Revenue model
Grant-funded. 96% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 41% for direct work, and 59% for grants.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.2%; rating input score 85
  • Fundraising efficiency: $182.2 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings

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: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -16.4%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.34; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 11.1% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.2% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.2M in reported program spending
  • Leadership: top reported pay $100K · 12 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 8/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.