Dc Housing Solutions Inc

Nonprofit profile at a glance

EIN
461478497
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2025351000
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$207,550
Expenses
$2,498,032
Assets
$49,476,649
Liabilities
$1,230,415

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

Leadership & pay

14 people listed

Executive titles in this filing

  • KEITH PETTIRGREW (EXECUTIVE DIRECTOR & PRESIDENT)

Highest reported compensation

  • KEITH PETTIRGREW (EXECUTIVE DIRECTOR & PRESIDENT): $392,516 total reported compensation
  • AMY GLASSMAN (GENERAL COUNSEL & SECRETARY): $279,057 total reported compensation
  • HEATHER MUELLER (CFO & TREASURER): $224,561 total reported compensation

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

Overview

Mission

Dchs is operated for the purpose of facilitating the development of affordable housing and related facilities and lessening the burden of the government.

What it reported doing in 2024

The district of columbia housing authority's (dcha) mission is to provide opportunities for affordable housing in the nation's capital. Dcha created the affiliate entities capitol housing partners llc ("chp") and its parent entity, dc housing solutions inc., to serve as the development entities of dcha. Dcha and its affiliates have extensive experience and the financial capacity to serve as developer and guarantor for projects that will advance dcha's mission to provide affordable housing in the district of columbia. Dc housing solutions inc. Is district of columbia 501 (c)(3) nonprofit that was incorporated on november 28, 2012. The nonprofit was formed to develop and facilitate the development of housing properties as defined in the section 6-201 of the dc code, to lessen the burdens of government and engage in any other activities consistent with the IRS 501c3 code. Housing properties are defined in dc code as housing and facilities for persons of low and moderate income, including housing and related facilities for the elderly, and housing and related facilities for people with disabilities; and housing, community facilities and other properties intended to support or contribute to the financial viability of such housing and related facilities owned, operated or managed by dcha or the development or administration of which is assisted by dcha. The nonprofit's board of directors is comprised of the full dcha board of commissioners, which currently has 11 members. The nonprofit does not have any members. The nonprofit's officers are dcha staff members, including the dcha executive director, chief financial officer and general counsel. Dc housing solutions, inc. Has been involved with numerous major affordable housing developments since 2012, including hope vi redevelopments and complex redevelopment projects such as capper 882 north, capper 769n, highland dwellings, and parkway overlook. Dc housing solutions, inc. Has a subsidiary entity called capitol housing partners, llc which is a dc limited liability company incorporated in 2013. Chp is wholly owned by dchs. Chp's purpose is to assist in the direct and indirect ownership and development of real estate projects in the district of columbia as a guarantee entity for various development projects with various ownership interests.

Operating model

Revenue model
Investment-supported. 63% of the money available for current operations came from recurring investment income.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 64
  • Accountability: 64
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 38.4%; rating input score 38
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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

Accountability

  • Independent voting board: 78.6%; rating input score 79; 20th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1,103.6%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 19.81; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: -36.4% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 38.4% of spending went to programs
  • Governance: 11 of 14 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $960K in reported program spending
  • Leadership: top reported pay $393K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 10 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 38/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.