Albemarle Housing Improvement Program Inc

Nonprofit profile at a glance

EIN
541028220
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Charlottesville, VA, USA
Phone
4348172447
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Support

Official website

Reported finances

Revenue
$2,323,516
Expenses
$2,117,346
Assets
$7,988,172
Liabilities
$214,887

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

Leadership & pay

11 people listed

Executive titles in this filing

  • KRISTIN SZAKOS (PRESIDENT)

Highest reported compensation

  • CORY DEMCHAK (EXECUTIVE DI): $117,851 total reported compensation
  • CRAIG KAISER (CFO): $91,782 total reported compensation

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

Overview

Mission

Albemarle housing improvement program (ahip) is a non-profit, state licensed class-a contractor who completes critical repairs, energy efficient upgrades, safety and accessibility modifications, and total home rehabs. Our mission is to ensure safe and affordable homes for our neighbors in need. Since 1976, we have served more than 4,700 households in our community. Nearly a tenth of charlottesville and albemarle homeowners are severely cost burdened. This means that critical repairs, including hvac, roofing, plumbing, electrical, and structural repairs, are beyond reach. By providing repair services to income-eligible homeowners, we can preserve the houses in the neighborhoods that make up our vibrant community. Home repairs preserve our clients' greatest asset, their home, and helps build generational wealth. Housing repairs also positively affect physical and mental health while accessibility modifications ensure that our senior clients can age in place safely with dignity.

What it reported doing in 2024

Albemarle housing improvement program (ahip) provides critical home repair for income-eligible families in the charlottesville and albemarle area. Our organization is a class-a contractor with full lead abatement certifications. Ahip takes a multifaceted approach to tackling housing needs by carrying out critical repairs, comprehensive home rehabilitations, energy-efficiency upgrades, and safety and accessibility concerns. Our critical repair programs address basic safety and health concerns at home: failing roofs, lack of heat, failed wells and septic systems, faulty plumbing, dangerous electrical systems, unsafe structures, peeling paint, dilapidated kitchens and bathrooms, mold, hazardous steps, lack of insulation, and broken windows and doors. Together with our donors, business partners, volunteers, and advocates, last year, we kept 170 people safe and secure by improving 82 homes with 180 critical repairs and retrofits.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 64
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.4%; rating input score 82
  • Program expense ratio: 88.8%; rating input score 89
  • Fundraising efficiency: $14.76 raised per $1 spent on fundraising; rating input score 50; 50th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.9%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 3.77; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 9.9%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: -2.3% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 13.1% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 82.4% of revenue deployed · 88.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $118K · 11 people listed
  • Highest-paid contractors: 1 contractor listed · $109K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Fundraising efficiency scored 50/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.