Essex Non-profit Housing Corporation
Nonprofit profile at a glance
- EIN
- 203773809
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Warren, MI, USA
- Phone
- 5867539002
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Crime Prevention
Reported finances
- Revenue
- $23,043,956
- Expenses
- $5,645,251
- Assets
- $17,016,628
- Liabilities
- $70,758
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
21 people listed
Executive titles in this filing
- SHERYLE MOREY (PRESIDENT)
- MARY DALESSANDRO (VICE PRESIDENT)
- ANNIE MITCHELL (FORMER PRESIDENT)
- GLORIA PARRIS (FORMER VICE PRESIDENT)
Highest reported compensation
- ANNE SACKRISON (ASSISTANT SECRETARY): $368,043 total reported compensation
- MEL HUDSON (NATIONAL CONSTRUCTION MANAGER): $269,361 total reported compensation
- DIANE SMITH (NATIONAL DEVELOPMENT MANAGER): $259,515 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide housing facilities for low income senior citizens.
What it reported doing in 2024
Essex non-profit housing corporation is a Maryland non-profit housing corporation organized on a non-stock basis by cooperative services, inc., a Michigan non-profit cooperative. The corporation was formed to acquire an interest in real property located in essex, Maryland and to construct and operate thereon an apartment project of 209 units. Housing is provided to low income seniors in cooperation with the us department of housing and urban development.essex non-profit housing corporation now funds the project through a seller carryback loan and is the sole member of essex gp llc. The main purpose of this entity going forward will be a financial arm of the low income housing project through the new partnership.
Operating model
- Revenue model
- Grant-funded. 61% of the money available for current operations came from government grants.
- Distribution model
- Grant intermediary. The nonprofit sent 69% of its reported program spending out as 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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 75
- Accountability: 95
- Sustainability: 84
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 95.2%; rating input score 95
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- 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; 66th percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 75.5%; rating input score 98; 98th percentile among comparable filings
- Total-asset coverage ratio: 3.01; rating input score 75; 75th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
- Officer compensation ratio: 6.3%; rating input score 40; 40th percentile among comparable filings
Growth
- Program expense growth: 8.3% per year; rating input score 100; 63rd percentile among comparable filings
- Revenue growth: 25.3% per year; rating input score 100; 95th percentile among comparable filings
- Asset growth: 8.1% per year; rating input score 100; 56th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 95.2% of spending went to programs
- Governance: 10 of 10 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $5.4M in reported program spending
- Leadership: top reported pay $368K · 21 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $116K reported
- Consistency: 26 of 26 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 9 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 94 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Moderate — Sustainability: Officer compensation ratio scored 40/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.