Tcs-i Midtown Apartments

Nonprofit profile at a glance

EIN
231716928
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Scranton, PA, USA
Phone
5703449823
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$1,998,048
Expenses
$1,822,005
Assets
$4,411,576
Liabilities
$1,067,628

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

Leadership & pay

10 people listed

Executive titles in this filing

  • HERB KNELLER (PRESIDENT)

Highest reported compensation

  • JEAN ANNE MANZO (EX. DIRECTOR): $94,878 total reported compensation
  • EDIS HANIC (TREASURER): $82,292 total reported compensation

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

Overview

Mission

The organization's mission is to provide affordable housing to lower income residents of the city of scranton, that is comfortable, clean, modern, and safe. The organzation fulfills its mission by continually reinvesting in the physical and aesthetic quality of its 233 residential units, while charging rents that are consistently 35% to 40% below prevaling market rent rates in the region, thus making the units affordable for current and potential tenants with lower incomes.

What it reported doing in 2024

Provided 233 units of affordable, comfortable, clean, modern, and safe housing to lower income residents of the city of scranton. The organization has made the units affordable to its tenants by charging monthly rents that continually average 35% to 40% below prevailing market rates. The organization made its affordable housing comfortable, clean, and modern by investing 943,000 in property and equipment additions and renovations over the last 5 years, and an additional 2,460,000 in capital improvements during the previous 5 years. As a result of these additions and renovations, the organzation's housing complex and property is a source of beauty and pride for its residents and the community at large, while still providing citizens with lower incomes the ability to reside here. The organization maintained the safety of its residential units by (a) contracting with the city of scranton for police security coverage; (b) maintaining a large, state of the art video security system, and (c) providing a large, neatly manicured green space within the property for resident tenants of all ages to enjoy.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 89
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 100%; rating input score 100
  • 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: 90%; rating input score 90; 23rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.8%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 2.42; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $95K · 10 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.