Fort Worth Affordability Inc

Nonprofit profile at a glance

EIN
201681285
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Fort Worth, TX, USA
Phone
8178778850
Rating
41
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$1,307,700
Expenses
$18,217
Assets
$25,705,159
Liabilities
$8,069,071

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

Leadership & pay

7 people listed

Executive titles in this filing

  • MARY-MARGARET LEMONS (PRESIDENT)
  • HECTOR ORDONEZ (VICE PRESIDENT OF FINANCE & ADMIN)

Highest reported compensation

  • MARY-MARGARET LEMONS (PRESIDENT): $467,097 total reported compensation
  • HECTOR ORDONEZ (VICE PRESIDENT OF FINANCE & ADMIN): $258,759 total reported compensation

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

Overview

Mission

Support fort worth housing solutions' mission of promoting community welfare by providing decent housing that is affordable to low income families in the city of fort worth and county of tarrant, Texas, and providing support services to the residents of such housing.

What it reported doing in 2024

Fort worth affordability, inc. (fwai) finances the development and rehabilitation of some of the properties under the fort worth housing solutions' portfolio. Fwai also serves as owner of spring glen apartments, woodmont gp, carlyle crossing, cobb park townhomes ii, lp, and post oak east apartments, lp.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 59
  • Accountability: 84
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 98.6%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 1,411.05; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 537.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 10.5% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $467K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 79 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.