Ch Development Association

Nonprofit profile at a glance

EIN
912032882
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2063297303
Rating confidence
Limited
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$-1,561,120
Expenses
$3,520,778
Assets
$21,254,545
Liabilities
$25,421,492

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

Leadership & pay

9 people listed

Executive titles in this filing

  • CHRISTOPHER PERSONS (CEO, SECRETARY)
  • FRANK F ALVARADO III (PRESIDENT THRU 11/24)
  • ERIC SNOW (VICE PRESIDENT, TREASURER THRU 08/24)
  • BOB FIKSO (PRESIDENT)
  • MICHELLE MORLAN (VICE PRESIDENT, TREASURER)

Highest reported compensation

  • CHRISTOPHER PERSONS (CEO, SECRETARY): $257,621 total reported compensation
  • ANDREW OOMMEN (COO): $222,843 total reported compensation
  • LESLIE WOODWORTH (CFO): $221,757 total reported compensation

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

Overview

Mission

Ch development association's purpose is to support community roots housing in its mission to meet the need for affordable housing while preserving neighborhood character in seattle.

What it reported doing in 2024

Ch development association (chda) helps preserve affordable housing by assuming ownership interests in limited partnerships owning low income, multi-family housing upon the exit of the for-profit investors. To date, ch development association has replaced the investor limited partner in 13 partnerships preserving 372 units. Chda also has an ownership interest in 13 other legal entities established for the development or rehabilitation of affordable housing in the greater seattle area.continued on schedule o.chda directly owns 3 limited liability companies to operate low-income rental housing properties which were rehabilitated in 2021 and 2022. This includes 49 units at bremer apartments, 30 units at boylston howell apartments, and 27 units at john carney apartments. This ownership supports community roots housing. Chda directly owns 1 llc to operate a commercial condominium on the ground floor of one affordable apartment complex where it has an ownership interest. The space was in construction and buildout for tenant occupancy during 2024.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Direct operator. The filing allocates 80% 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 75
  • Accountability: 75
  • Sustainability: 23
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 95.2%; 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 25th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -325.5%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 6.04; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 1.2; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 1.6%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 18% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: -15% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: 6.9% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 95.2% of spending went to programs
  • Governance: 4 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $258K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 52 filed related-organization links
  • 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: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.