Colorado Mortgage Lenders Association
Nonprofit profile at a glance
- EIN
- 237323361
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Centennial, CO, USA
- Phone
- 3037739565
- Rating
- 60
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $534,909
- Expenses
- $619,009
- Assets
- $411,174
- Liabilities
- $232,001
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
42 people listed
Executive titles in this filing
- BETTY KNECHT (EXECUTIVE DIRECTOR)
- PAIGE OMOHUNDRO (PRESIDENT ELECT)
- CALVIN EVANS (PRESIDENT)
Highest reported compensation
- BETTY KNECHT (EXECUTIVE DIRECTOR): $95,218 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 Colorado mortgage lenders association is an organization committed to responsible homeownership achieved through the practice of integrity-based lending. We serve our community through effective education, principled representation, and gracious networking to advance free enterprise and the highest ethical standards in the mortgage lending industry.
What it reported doing in 2024
Cmla provides education and information to its members related to the mortgage lending industry. It also provides networking forums, legislation monitoring, and problem solving task forces.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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.
The verdict
SUPPORTED - 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: 32
- Transparency & Controls: 90
- Accountability: 79
- Sustainability: 19
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 37.9%; rating input score 38
- Program expense ratio: 33.5%; rating input score 33
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -15.7%; rating input score 12; 12th percentile among comparable filings
- Total-asset coverage ratio: 0.66; rating input score 30; 30th percentile among comparable filings
- Liabilities to assets ratio: 0.56; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 15.4%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: -1.3% per year; rating input score 0; 14th percentile among comparable filings
- Revenue growth: 0.8% per year; rating input score 100; 18th percentile among comparable filings
- Asset growth: 4.8% per year; rating input score 100; 38th percentile among comparable filings
Details
- Where the money goes: 37.9% of revenue deployed · 33.5% of spending went to programs
- Governance: 41 of 41 board members independent · 4 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $207K in reported program spending
- Leadership: top reported pay $95K · 42 people listed
- Consistency: 25 of 25 current checks pass
- Schedules: 4 filed schedules
- Filing history: 12 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
- Moderate — Financial Efficiency: Program expense ratio scored 33/100.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Sustainability: Operating margin scored 12/100.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
- High — Sustainability: Liabilities to assets ratio scored 14/100.
- High — Sustainability: Officer compensation ratio scored 22/100.