Appletree Housing Inc

Nonprofit profile at a glance

EIN
232965144
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2157488750
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$70,173
Expenses
$145,594
Assets
$835,142
Liabilities
$2,261,374

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

Leadership & pay

4 people listed

Executive titles in this filing

  • THOMAS AK QUEENAN (PRESIDENT & CEO)
  • CHIP DARLING (VICE PRESIDENT & COO)

Highest reported compensation

  • THOMAS AK QUEENAN (PRESIDENT & CEO): $329,181 total reported compensation
  • ROBERT H KWAIT (ASSISTANT SECRETARY, VP): $256,442 total reported compensation
  • MARK DEITCHER (ASSISTANT TREASURER, VP): $255,460 total reported compensation

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

Overview

Mission

Appletree housing, inc provides affordable housing for low income, single parent, formerly homeless families who are striving to break the generational cycle of poverty by pursuing goals focused on education, parenting, financing and employment and personal development.

What it reported doing in 2024

Appletree housing, inc provides property management for 19 units of affordable housing for low income, single parent, formerly homeless families who are participating in a self-sufficiency program. Other real estate services are provided to this population.

Operating model

Revenue model
Grant-funded. 86% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 79
  • Accountability: 42
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.8%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -107.5%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 5.74; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 2.71; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 81.5%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: -4.2% per year; rating input score 0; 46th percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 28th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.8% of spending went to programs
  • Governance: 0 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $135K in reported program spending
  • Leadership: top reported pay $329K · 4 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 88 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.