Asian-american Homeownership Counseling Inc

Nonprofit profile at a glance

EIN
272195936
IRS 990 coverage
2012–2019
Forms available
Form 990 2019
Location
Rockville, MD, USA
Phone
3017607636
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Support

Official website

Reported finances

Revenue
$15,866
Expenses
$622,770
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • SONG HUTCHINS (PRESIDENT/CEO)

Highest reported compensation

  • SONG HUTCHINS (PRESIDENT/CEO): $87,707 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Aahc was established to empower and inspire immigrant communities to achieve and maintain the american dream of homeownership by providing counseling, education, tools, and resources. Aahc increases homeownership success by placing individuals on the road to financial self-sufficiency. Aahc provides homebuyer education, financial literacy education, foreclosure intervention and default management education, home mortgage education, and advocacy and charitable work for asian-americans, pacific islanders and other underserved communities.

What it reported doing in 2019

Serviced total of 990 households with foreclosure prevention & default services, monthly group first time homebuyer education classes and one-on-one counseling/coaching on pre- & post - purchase, credit and money management, student loan debts, reverse mortgage for senior homeowners in Maryland, dc and Virginia.

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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 3
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.5%; rating input score 98
  • 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: 83.3%; rating input score 83; 24th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3,825.2%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 14.1%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 13.7% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: -0.9% per year; rating input score 0; 59th percentile among comparable filings
  • Asset growth: 12.4% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.5% of spending went to programs
  • Governance: 5 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $613K in reported program spending
  • Leadership: top reported pay $88K · 6 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2012 to 2019
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.