Continental Homes Inc

Nonprofit profile at a glance

EIN
237169311
IRS 990 coverage
2010–2019
Forms available
Form 990 2019
Location
Grand Forks, ND, USA
Phone
7017462545
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$543,161
Expenses
$557,058
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • ELTON HENDRICKSON (PRESIDENT)
  • JON KOTRBA (VICE PRESIDENT)

People named in this filing

  • JOANI KILBER (DIRECTOR)
  • ELTON HENDRICKSON (PRESIDENT)
  • KRISTIN MILLER (DIRECTOR)

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 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide low income housing to eligible persons in grand forks, nd. Continental homes, inc. Ceased operations and will report a transfer of physical assets in fiscal year 2019. Effective november 25, 2019, all operations as well as assets and liabilities of the project were transferred to gfh continental, llc.

What it reported doing in 2019

Continental homes, inc. Provides low income housing to eligible persons in grand forks, nd. Continental homes, inc. Ceased operations and will report a transfer of physical assets in fiscal year 2019. Effective november 25, 2019, all operations as well as assets and liabilities of the project were transferred to gfh continental, llc.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
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. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 23
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82%; rating input score 82
  • Program expense ratio: 79.9%; rating input score 80
  • 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: 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -2.6%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: -10.3% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 82% of revenue deployed · 79.9% of spending went to programs
  • Governance: 8 of 8 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $445K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2010 to 2019
  • Contacts: How to reach this organization
  • Related organizations: 2 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 — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Growth: Asset growth scored 0/100.