Cda Housing Inc

Nonprofit profile at a glance

EIN
300572797
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Kenosha, WI, USA
Phone
9069325500
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Temporary Housing

Reported finances

Revenue
$5,169,942
Expenses
$128,208
Assets
$30,986,348
Liabilities
$6,091,024

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DONALD RICHARDS (PRESIDENT)

People named in this filing

  • DAMON DUNCAN (DIRECTOR)
  • TIM MAHONE (VICE PRESIDE)
  • KATIE OATSVALL (SECRETARY &)

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

The corporation is organized exclusively for charitable, educational and scientific purposes, and exclusively to carry out the following purposes: 1. Provide decent, safe and sanitary housing and other assistance related to affordable low-income housing and basic human needs for decent shelter to those in need and the disadvantaged as well as to engage in any other lawful act or activity for which the corporation may be organized under the non-profit corporation law of the state of Michigan. 2. Develop and maintain safe, affordable housing for low-income persons in the states of Michigan, Wisconsin and Illinois. 3. Purchase, obtain donations of, and accept ownership of existing rental housing properties and, if applicable and appropriate, to assume existing mortgages and associated indebtedness of said properties and/or obtain other financing and operate said property as affordable low-income housing. 4. Provide such educational, supportive and referral services to low-income persons a

What it reported doing in 2024

Cda housing, inc. Is involved with the following projects as of december 31, 2024: 1) the verander- danville, il (44 units). The verander is the redevelopment of an affordable housing community in danville, il which is being substantially renovated into 44 units of affordable housing. Cda accepted the donation of the property from an unrelated nfp in order to preserve and recapitalize the development. Cda is serving as an owner, developer and lender on the transaction. The development began construction in nov 2024 and is expected to be completed in dec 2025. 2) the intersect- madison, wi (192 units). The intersect is a 192-unit new construction, affordable housing development located in madison, wi. It will create new units of affordable housing in a key corridor in madison along the bus rapid transit line. Cda is serving as an owner, consultant and lender on the transaction. The development began construction in july 2024 and is expected to be completed in april 2026.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 6
  • Transparency & Controls: 86
  • Accountability: 88
  • Sustainability: 92
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.5%; rating input score 0
  • Program expense ratio: 17.9%; rating input score 18
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 97.5%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 241.69; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -12.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 19.4% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 26.3% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 0.5% of revenue deployed · 17.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $23K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 18/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.