Dwelling Place of Grand Rapids Nonprofit

Nonprofit profile at a glance

EIN
382313832
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Grand Rapids, MI, USA
Phone
6144540928
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$7,404,062
Expenses
$8,592,376
Assets
$57,400,650
Liabilities
$9,725,736

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

Leadership & pay

20 people listed

Executive titles in this filing

  • JEREMY DEROO (FORMER CEO)

Highest reported compensation

  • JEREMY DEROO (FORMER CEO): $240,829 total reported compensation
  • FELISHA RODRIGUEZ (FORMER COO): $201,112 total reported compensation
  • ALONDA TRAMMELL-MILLER (CHIEF PROGRAMS OFFICER): $177,424 total reported compensation

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

Overview

Mission

Dwelling place continues to fulfill its mission by developing, owning and managing more than 1,300 affordable housing units for low and moderate income families. During 2024, more than 1,612 households benefited from dwelling place housing programs including more than 738 previously homeless individuals. In its efforts to revitalize neighborhoods, dwelling place has developed and manages more than 40 commercial spaces, leasing both to not-for-profit organizations and for-profit businesses that offer critical services and create jobs in the neighborhoods where dwelling place is present. Dwelling place also offers critical social services for residents who may require those services to maintain housing stability and important business support to small and start-up businesses in the neighborhoods where it works.

What it reported doing in 2024

Dwelling place provides affordable rent restricted housing to over 1,462 low-income households in west Michigan, assists households in accessing support services when requested, and operates community and economic development programs in the area. Dwelling place leases over 40 commercial spaces. During 2024, dwelling place continued its development activity in several projects. During 2024 dwelling place continued the process of re-syndication for four properties. Weston apartments, which consists of 190 units, verne barry apartments which consists of 116 units, and elmdale apartments which consist of 19 units all located in the city of grand rapids. Additionally, villa esperanza consists of 40 units located in the city of Wyoming. Kollen park, a new construction 52 unit project in the city of holland was submitted to mshda for lihtc awards in 2024.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 57.6%; rating input score 58
  • Fundraising efficiency: $33.6 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 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: -16%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 6.68; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 11.2%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 80% of revenue deployed · 57.6% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 7 filed program accomplishments · $4.9M in reported program spending
  • Leadership: top reported pay $241K · 20 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 58 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.