Abode Housing Development

Nonprofit profile at a glance

EIN
943205085
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2021
Location
Fremont, CA, USA
Phone
5106577409
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$16,010,737
Expenses
$15,762,226
Assets
$113,170,396
Liabilities
$89,559,536

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

Leadership & pay

16 people listed

Executive titles in this filing

  • LOUIS CHICOINE (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • LOUIS CHICOINE (CHIEF EXECUTIVE OFFICER): $254,144 total reported compensation
  • JONATHAN WHITE (CHIEF REAL ESTATE OFFICER): $204,947 total reported compensation
  • JARED T WRIGHT (ASSOCIATE DIRECTOR OF RED): $167,877 total reported compensation

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

Overview

Mission

To provide affordable housing linked to support services for low-income individuals and families. Abode is a supportive housing development organization focused on developing projects in northern California.

What it reported doing in 2024

Assist substantially homeless, impoverished and/or special needs individuals and families within the san francisco bay area with obtaining adequate and affordable housing accommodations.

Operating model

Revenue model
Earned-program. 92% 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: 80
  • Transparency & Controls: 84
  • Accountability: 77
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.4%; rating input score 80
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: $54.55 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 66th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.6%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 7.18; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 20.4% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 20.5% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 18.7% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 80.4% of revenue deployed · 82.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $13M in reported program spending
  • Leadership: top reported pay $254K · 16 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $959K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 25 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.

  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.