Cucs Housing Development Fund Corp Iii

Nonprofit profile at a glance

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

5 people listed

JEFFREY HALFPENNY (TREASURER (THROUGH 12/24)): $326,048 total reported compensation
HADARYAH MORGAN (SECRETARY/COO (THROUGH 4/25)): $299,345 total reported compensation
ABENA NYAMEKYE (TREASURER/CAO (AS OF 12/24)): $220,471 total reported compensation

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

The corporation has been organized exclusively to develop, on a non-profit basis, a housing project for persons of low income.

Development of housing for low income persons and their families.

Revenue model: No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model: No current program activity. The filing reports no program spending for the current year.

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Consistency checks: 90%; rating input score 90; 13th percentile among comparable filings
Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
Foreign activity oversight: Limited
Grant itemization coverage: Limited
Major donor itemization: Limited
Related-party transparency: Limited

Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass

Operating margin: Limited
Total-asset coverage ratio: Limited
Liabilities to assets ratio: 0.99; rating input score 6; 6th percentile among comparable filings
Officer compensation ratio: Limited

Program expense growth: -37.8% per year; rating input score 0; 8th percentile among comparable filings
Revenue growth: -24.7% per year; rating input score 0; 16th percentile among comparable filings
Asset growth: 0.7% per year; rating input score 100; 44th percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 0 of 2 board members independent · 7 of 9 filing controls reported
Programs: 1 filed program accomplishment
Leadership: top reported pay $326K · 5 people listed · 0 of 6 pay-setting controls reported
Consistency: 11 of 12 current checks pass · 1 finding to review
Schedules: 5 filed schedules · includes executive pay
Filing history: 12 filing years from 2013 to 2024
Contacts: How to reach this organization
Related organizations: 3 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.

Signals prioritize questions for review. They are not findings of misconduct.

High — Accountability: Independent voting board scored 0/100.
High — Transparency & Controls: Pay-setting controls scored 0/100.
High — Sustainability: Liabilities to assets ratio scored 6/100.
High — Growth: Program expense growth scored 0/100.
High — Growth: Revenue growth scored 0/100.
Review — Accountability: Governance controls: 2 of 9 not reported.
Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.