Crossroads Housing Development Corp

Nonprofit profile at a glance

EIN
752839932
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Big Spring, TX, USA
Phone
4322672206
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$50,651,700
Expenses
$50,563,500
Assets
$1,620,196
Liabilities
$125,259

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

Leadership & pay

5 people listed

Executive titles in this filing

  • STACY SWISHER (Executive Director Board Secretary)

Highest reported compensation

  • STACY SWISHER (Executive Director Board Secretary): $304,617 total reported compensation
  • LINDA PRYOR (Deputy Director): $44,428 total reported compensation

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

Overview

Mission

CHDC is a community housing development organization that assists in creating, managing, and developing affordable housing for citizens of Howard County and its continand all areas west of US Hwy 59 in the State of TX and Regions 4, 5, 6, and 11 as reflected in the TDHCA Map of Uniform State Service Regions of TX.

What it reported doing in 2024

Deposit Assistance Management Program. The intent of this program is to assist Big Spring Housing Authority Rental Assistance Voucher clients moving into a new residence by providing eligible applicants assistance partial or complete with lease or utility deposits. Specific guidelines regarding eligibility and income verification are set forth within the management plan.

Operating model

Revenue model
Earned-program. 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 73
  • Accountability: 85
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99%; rating input score 99
  • Program expense ratio: 99.5%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 24th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 14.3% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 11.6% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 99% of revenue deployed · 99.5% of spending went to programs
  • Governance: 3 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $50.3M in reported program spending
  • Leadership: top reported pay $305K · 5 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $49.6M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.