Central New Mexico Housing Corp

Nonprofit profile at a glance

EIN
522438418
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5053454949
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Home Improvement and Repairs

Reported finances

Revenue
$7,373,037
Expenses
$7,298,743
Assets
$1,571,877
Liabilities
$784,012

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

Leadership & pay

6 people listed

Executive titles in this filing

  • BRIANNA HARRAND (PRESIDENT)

Highest reported compensation

  • LUCINDA HAZZARD (EXECUTIVE DI): $198,598 total reported compensation
  • ISAAC R STEVENS (ADMINISTRATI): $173,713 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Central New Mexico housing coporation's mission is to help the low income families of New Mexico make their homes energy efficient, one by educating our clients on energy saving measures and two by performing all possible energy saving measures on their homes which will in turn lower their monthly energy usage, lower their monthly bills and create a more energy efficient home for their families.

What it reported doing in 2024

Weatherization is the nation's largest residential energy efficiency program, it reduces energy costs for low income americans by improving the efficiency of their homes. The weatherization program specifically focuses on assisting low-income people, primarily the elderly, persons with disabilities, and families with children. High energy costs are an excessive burden on low income americans; weatherization alleviates this burden and improves the standard of living for these individuals and families. The organization served approximately 325 homes during the year.

Operating model

Revenue model
Grant-funded. 71% of the money available for current operations came from government grants.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 65
  • Accountability: 90
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.4%; rating input score 94
  • Program expense ratio: 95.4%; rating input score 95
  • 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 5.1%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 94.4% of revenue deployed · 95.4% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $7M in reported program spending
  • Leadership: top reported pay $199K · 6 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.4M reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.