Thanksgiving Homes

Nonprofit profile at a glance

EIN
721544954
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Corpus Christi, TX, USA
Phone
3618893300
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$519,288
Expenses
$528,993
Assets
$5,506,064
Liabilities
$3,565,470

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

Leadership & pay

10 people listed

Executive titles in this filing

  • GARY ALLSUP (CHIEF EXECUTIVE OFFICER)
  • MARISA SMITHWICH (VICE PRESIDENT FOR TECHNOLOGY & TRAINING)
  • BUITRON LORENZO (VICE PRESIDENT OF FACILITIES OPERATIONS)

Highest reported compensation

  • GARY ALLSUP (CHIEF EXECUTIVE OFFICER): $630,423 total reported compensation
  • MARISA SMITHWICH (VICE PRESIDENT FOR TECHNOLOGY & TRAINING): $269,990 total reported compensation
  • RHEN BASS (CFO): $218,231 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 mission of thanksgiving homes is to assist its sponsor in financing, refinancing or providing public facilities.

What it reported doing in 2024

The purpose of thanksgiving homes is to assist its sponsor in financing or providing public facilities.

Operating model

Revenue model
Grant-funded. 75% of the money available for current operations came from government grants.
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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 34
  • Transparency & Controls: 65
  • Accountability: 82
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39%; rating input score 39
  • Program expense ratio: 36.4%; rating input score 36
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.9%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 10.41; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 27.7% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 34.6% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 19.9% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 39% of revenue deployed · 36.4% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $192K in reported program spending
  • Leadership: top reported pay $630K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 39/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 36/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.