Devco Foundation

Nonprofit profile at a glance

EIN
934320484
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Bellevue, WA, USA
Phone
2069464993
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$14,613,092
Expenses
$147,992
Assets
$2,937,787
Liabilities
$6,933,233

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

Leadership & pay

7 people listed

Executive titles in this filing

  • EVAN JACK HUNDEN (PRESIDENT)

Highest reported compensation

  • THOMAS HAWES HUNDEN (TREASURER): $8,000 total reported compensation
  • CAROLYN HAWES HUNDEN (SECRETARY): $8,000 total reported compensation
  • PAUL HERSKOWITZ (DIRECTOR): $8,000 total reported compensation

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

Overview

Mission

The organization creates opportunities for low-income individuals and families through affordable housing projects and investment in those communities.

What it reported doing in 2024

The organization creates opportunity for low-income individuals and families by providing quality affordable housing. The organization will, through joint ventures or otherwise, invest in, develop, build, own, operate, rehabilitate, and/or manage affordable housing projects.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 24
  • Transparency & Controls: 92
  • Accountability: 71
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.8%; rating input score 1
  • Program expense ratio: 68.7%; rating input score 69
  • 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: 85.7%; rating input score 86; 19th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 99%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 19.85; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 2.36; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 32.4%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 80.6% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 0.8% of revenue deployed · 68.7% of spending went to programs
  • Governance: 6 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $102K in reported program spending
  • Leadership: top reported pay $8K · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 1/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.