Chaffee Housing Trust

Nonprofit profile at a glance

EIN
262123010
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2011, Form 990-N 2016
Location
Buena Vista, CO, USA
Phone
7192391199
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$2,004,491
Expenses
$481,453
Assets
$17,040,833
Liabilities
$11,039,307

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

Leadership & pay

13 people listed

Executive titles in this filing

  • KEN MATTHEWS (PRESIDENT)
  • KEITH READ MCCULLOCH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KEITH READ MCCULLOCH (EXECUTIVE DIRECTOR): $114,503 total reported compensation

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

Overview

Mission

The chaffee housing trust is committed to promoting responsible community development by providing affordable and sustainable home ownership and rentals to qualifying residnets

What it reported doing in 2024

Provide affordable home ownership and rental opportunities to individuals, families and households earning below certain percentages (80%, 50% & 120%) of the area median income

Operating model

Revenue model
Grant-funded. 88% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.
  • 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: 21
  • Transparency & Controls: 61
  • Accountability: 63
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11%; rating input score 11
  • Program expense ratio: 45.1%; rating input score 45
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 18.7%; rating input score 19; 12th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 76%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 35.39; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 23.8%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 28.1% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 16.2% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 22.2% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 11% of revenue deployed · 45.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $217K in reported program spending
  • Leadership: top reported pay $115K · 13 people listed
  • Highest-paid contractors: 5 contractors listed · $979K reported
  • Consistency: 31 of 33 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 11/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 45/100.
  • High — Transparency & Controls: Grant itemization coverage scored 19/100.
  • High — Accountability: Governance controls: 7 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.