Eastern Shore of Virginia Housing Alliance

Nonprofit profile at a glance

EIN
541142968
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Accomac, VA, USA
Phone
7577872936
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$685,966
Expenses
$671,601
Assets
$4,351,923
Liabilities
$3,070,479

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

Leadership & pay

14 people listed

Executive titles in this filing

  • FAITH CUSTIS (President)

Highest reported compensation

  • BRIDGECHELLE WARNER (Director): $175 total reported compensation
  • ELLEN RICHARDSON (Director): $175 total reported compensation
  • FAITH CUSTIS (President): $175 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 eastern shore of Virginia housing alliance is a nonprofit organization that provides new and rehabilitated affordable housing, either to rent or to own, to residents of accomack and northampton counties.

What it reported doing in 2024

Bailey road apartment project- a low income housing project started by the alliance to assist in providing low income housing for residents of accomack county.

Operating model

Revenue model
Grant-funded. 82% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 48% for direct work, and 52% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 93
  • Accountability: 74
  • Sustainability: 54
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.3%; rating input score 92
  • Program expense ratio: 94.1%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.1%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 6.48; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.71; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 11.7% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 92.3% of revenue deployed · 94.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $632K in reported program spending
  • Leadership: top reported pay $175 · 14 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.