Avoca Housing Corporation Inc
Nonprofit profile at a glance
- EIN
- 237362358
- IRS 990-EZ coverage
- 2025–2025
- Forms available
- Form 990-EZ 2025, Form 990-N 2024
- Location
- Algona, IA, USA
- Phone
- 5152952927
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $51,905
- Expenses
- $45,159
- Assets
- $82,521
- Liabilities
- $5,322
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- Serena Riesgaard (President)
- Cory Maassen (Vice President)
People named in this filing
- Serena Riesgaard (President)
- Cory Maassen (Vice President)
- Larry Petersen (Secretary/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-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide low rent housing in Avoca, Iowa.
What it reported doing in 2025
To provide low rent housing for the elderly, disabled, and families. Rent is based on 30% of the applicant's yearly adjusted income with the remainder subsidized by USDA/Rural Development. This organization made it possible for 8 families to find safe and affordable housing in the Avoca community.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- 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. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 92
- Transparency & Controls: 82
- Sustainability: 57
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 87%; rating input score 87
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 13%; rating input score 64; 64th percentile among comparable filings
- Total-asset coverage ratio: 1.83; rating input score 63; 63rd percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 17; 17th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 87% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $45K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 1 filed schedules
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Liabilities to assets ratio scored 17/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.