Usvets Housing Corporation

What it reported doing in 2024

U.s. Vets housing corporation was created in june 2019 to support the united states veterans initiative and its affordable housing development projects. March veterans village building 1 was completed in april 2022. This building is sixteen units of permanent and transitional housing. The other housing projects are still under development and are as follows: the e street in san bernardino is applying for lihtc funding in order to begin construction and the 17th street in san bernardino will start pre-development activities once e street has commenced construction. The ventura veteran's home construction started in the summer of 2022 and to be completed in december 2024. The city of phoenix purchased the new phoenix campus, (continued on schedule o)replacing the very old grand veterans village, there are plans to move to this location when required construction work and inspections are completed. The va campus in brentwood will provide 900 units of veteran housing, and it will take the lead in develop four buildings on the property and will also be the lead service provider on the campus. The first project will be building 210 providing 38 residential units and construction commenced in august 2024 and is scheduled to open march 2026. The second project will be building 300 providing 44 residential units and a community service hub with construction scheduled to start in 2025. The fort whipple veteran housing project in prescott, az which is a historic rehab of 6 officers quarters (24 bedrooms) and a new property development of 85 bedrooms. Construction commenced in december 2024 with completion expected by 2026.

Financial Efficiency

• Mission deployment rate: 98.2%; rating input score 98
• Program expense ratio: 96.5%; rating input score 97
• Fundraising efficiency: $84.16 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 8th 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: 100%; rating input score 100; 43rd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: No; rating input score 0

Accountability

• Independent voting board: 50%; rating input score 50; 8th 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: 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: -1.8%; rating input score 24; 24th percentile among comparable filings
• Total-asset coverage ratio: 8.23; rating input score 89; 89th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 79; 79th percentile among comparable filings
• Officer compensation ratio: 0.5%; rating input score 90; 90th percentile among comparable filings

Growth

• Program expense growth: 63.8% per year; rating input score 100; 99th percentile among comparable filings
• Revenue growth: 18.4% per year; rating input score 100; 90th percentile among comparable filings
• Asset growth: 41.3% per year; rating input score 100; 98th percentile among comparable filings