Commonwealth Multifamily Housing Corporation

Nonprofit profile at a glance

EIN
760651319
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Temple, TX, USA
Phone
2547747766
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$14,451,584
Expenses
$19,244,991
Assets
$104,329,337
Liabilities
$106,495,467

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JOHN A CARLISI (PRESIDENT/TREASURER)
  • DAVID P COLE (VICE PRESIDENT/SECRETARY)

Highest reported compensation

  • JOHN A CARLISI (PRESIDENT/TREASURER): $150,000 total reported compensation
  • DAVID P COLE (VICE PRESIDENT/SECRETARY): $150,000 total reported compensation

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

Overview

Mission

Provide affordable housing for relief of poor and distressed.

What it reported doing in 2024

Enhanced communities: the organization provides low- and very-low-income residents with an affordable, safe community enhanced by specially trained affordable housing management professionals who bring nurturing and supportive attitudes to the staff-resident relationship and provide services which go far beyond simple leasing, collection and maintenance.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 35
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.4%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 33.3%; rating input score 33; 7th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • 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: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -33.2%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 5.42; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 1.02; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 1.6%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 16.4% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 13.6% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 15.8% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.4% of spending went to programs
  • Governance: 2 of 6 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $18.9M in reported program spending
  • Leadership: top reported pay $150K · 7 people listed
  • Highest-paid contractors: 2 contractors listed · $502K reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 38 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.
  • 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 — Accountability: Independent voting board scored 33/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.