Capital Good for Humanity Inc

What it reported doing in 2024

A. Cause- we are driven to lift the community through responsible, affordable lending for struggling families. This organization was formed to meet the needs of our community which is currently the most cost-burdened place to live in the country. The organization will begin lending in fall of 2021 and be fully operational at this time. We serve working families that cannot afford the median-priced home in the market without support or subsidy. This will include, but not be limited to, low-to-moderate income families. Eligibility will be determined by income, tax returns, standard documentation required by lenders, criminal background checks and additional documentation as needed. The threshold followed for determining low-to-moderate income standard will be set forth by hud through the area median income (ami). The activities of the organization will be implemented by full-time staff who have received proper lending training and carry necessary licenses for type of lending we seek to offer. (example- nationwide mortgage licensing system registration or mortgage loan originator licenses for staff underwriting mortgages.) as well, additional outsourcing maybe be required with increased volume. (example- utilizing a servicing company to service loans once originated.) the activity will be conducted on an annual basis through in-house and contracted services. The business will be operated by several full-time staff members contributing 75% or more of their monthly business hours. It will be housed at habitat for humanity of broward corporate headquarters. This business will allow us to increase our lending volume to serve more families in the community. Our operations will be funded through a combination of private support such as donations, bank investments or grants, government grants, our social enterprise and the future sale of loans.

Financial Efficiency

• Mission deployment rate: 55.3%; rating input score 55
• Program expense ratio: 100%; rating input score 100
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • 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: 45.5%; rating input score 91; 91st percentile among comparable filings
• Total-asset coverage ratio: 1.62; rating input score 54; 54th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
• Officer compensation ratio: 0.3%; rating input score 82; 82nd percentile among comparable filings

Growth

• Program expense growth: -2.1% per year; rating input score 0; 9th percentile among comparable filings
• Revenue growth: 2.2% per year; rating input score 100; 21st percentile among comparable filings
• Asset growth: -18.4% per year; rating input score 0; 1st percentile among comparable filings