Community Housing Initiative Inc

Nonprofit profile at a glance

EIN
352036890
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Whitestown, IN, USA
Phone
3178344756
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$954,561
Expenses
$991,031
Assets
$1,874,487
Liabilities
$2,875,734

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

Leadership & pay

4 people listed

Executive titles in this filing

  • MITCHELL L WALTERS (PRESIDENT)

People named in this filing

  • MITCHELL L WALTERS (PRESIDENT)
  • STEPHANIE J WALTERS (SECRETARY)
  • STEVEN K WALTERS (VP)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To promote scientific, educational and charitable purposes within the meaning of section 501(c)(3) of internal revenue code. Consistent with these purposes, community housing is organized to provide decent housing that is affordable to low-income and moderate-income persons and to promote, formulate, conduct, administer and otherwise assist in research, programs and studies in the files of housing and urban development. Community housing is a public benefit corporation within the meaning of i.c. 23-17-2-23.

What it reported doing in 2024

To provide low-income housing for elderly and disabled individuals subsidized by a contract with u.s. Department of agriculture rural development. Community housing is made up of six apartment complexes located in Indiana and Arizona.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 86
  • Accountability: 76
  • Sustainability: 41
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 78.5%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -3.8%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 1.89; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 1.53; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 78.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $778K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.