Vandalia Terrace Apartments

Nonprofit profile at a glance

EIN
237357896
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Chicago, IL, USA
Phone
3122813888
Rating confidence
Limited
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$623,995
Expenses
$550,546
Assets
$1,203,998
Liabilities
$1,283,871

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

12 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide housing for low income families.

What it reported doing in 2012

Vandalia Terrace provides housing for low income families. The tenants' portion of rent is based on a percentage of income with the balance paid by HUD under Section 8.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
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: 90
  • Accountability: 82
  • Sustainability: 65
  • Growth: 0

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: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.8%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 2.19; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 1.07; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 86; 86th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.3% per year; rating input score 0; 29th percentile among comparable filings
  • Asset growth: -0% per year; rating input score 0; 39th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $411K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2010 to 2012
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.