Ann Arbor Housing Development Corp

Nonprofit profile at a glance

EIN
383202520
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-T 2023
Location
Ann Arbor, MI, USA
Phone
7347946720
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$15,531,323
Expenses
$11,980,938
Assets
$20,979,373
Liabilities
$7,162,774

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

Leadership & pay

7 people listed

Executive titles in this filing

  • DR LEE MEADOWS (PRESIDENT)

People named in this filing

  • JENNIFER HALL (TREASURER)
  • DR LEE MEADOWS (PRESIDENT)
  • DR STEVEN DANIELS (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Rental housing in greater ann arbor area, including necessary supportive services to enhance livability for low income and special needs clientele.

What it reported doing in 2024

Relieved a shortage of decent, safe and sanitary housing for persons of low income including families and elderly, homeless or disabled persons in the city of ann arbor, mi and other Michigan communities.

Operating model

Revenue model
Grant-funded. 70% of the money available for current operations came from government grants.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.8%; rating input score 78
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 66th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 22.9%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 1.75; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 25.9% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 26.7% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 31.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 77.8% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $12M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.