Trinity Woods Inc

Nonprofit profile at a glance

EIN
541628983
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
7574614696
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$562,112
Expenses
$599,538
Assets
$1,146,914
Liabilities
$3,697,351

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Richard Bridgford (President)
  • Lynne Pipis (Vice President)

Highest reported compensation

  • Emmett Pate (Secretary): $47,000 total reported compensation
  • Richard Bridgford (President): $27,000 total reported compensation
  • Eugene DeNardi (Treasurer): $19,000 total reported compensation

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

Overview

Mission

Low Income Rental Housing-Elderly

Operating model

Revenue model
Earned-program. 100% 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

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 60
  • Accountability: 9
  • Sustainability: 29
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.7%; rating input score 95
  • Program expense ratio: 88.8%; rating input score 89
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.7%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 1.91; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 3.22; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 25th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: -5.5% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 94.7% of revenue deployed · 88.8% of spending went to programs
  • Governance: 0 of 7 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $533K in reported program spending
  • Leadership: top reported pay $47K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 4 filed related-organization links
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 9 not reported.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.