Association for Homes Inc

Nonprofit profile at a glance

EIN
311385692
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Wabash, IN, USA
Phone
2605631342
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$448,144
Expenses
$422,981
Assets
$4,518,644
Liabilities
$824,717

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MATTHEW CARPENTER (President)
  • ROBERT LUNDQUIST (Vice President)

People named in this filing

  • RONALD DAYMUDE (Director)
  • NOAH SMITH (Director)
  • MATTHEW MIZE (Treasurer)

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

To provide multi-family housing for low-income individuals.

What it reported doing in 2024

The program project provides multi-family housing for low-income individuals subsidized by a contract with the u.s. Department of rural development.

Operating model

Revenue model
Other-operating. 76% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 89% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 93
  • Accountability: 12
  • Sustainability: 62
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 85.2%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.6%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 10.68; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: -5.3% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 85.2% of spending went to programs
  • Governance: 0 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $361K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.