Foundation for Affordable Housing V Inc

Nonprofit profile at a glance

EIN
330839354
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Bend, OR, USA
Phone
9494439101
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$4,576,504
Expenses
$4,567,991
Assets
$7,517,045
Liabilities
$2,021,107

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

Leadership & pay

8 people listed

Executive titles in this filing

  • DARRIN WILLARD (PRESIDENT)
  • TARUN CHANDRAN (VICE PRESIDENT AND SECRETA)
  • MELISSA VINCENT (VICE PRESIDENT AND TREASUR)

Highest reported compensation

  • DARRIN WILLARD (PRESIDENT): $932,642 total reported compensation
  • TARUN CHANDRAN (VICE PRESIDENT AND SECRETA): $702,259 total reported compensation
  • DEBORRAH A WILLARD (KEY EMPLOYEE): $586,314 total reported compensation

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

Overview

Mission

Our purpose is to create safe, comfortable, high-quality homes that uplift the lives of our residents and enhance the surrounding neighborhoods. We focus on the financial and environmental sustainability of each of our residential communities, allowing us to build comfortable, affordable homes for those who need them most.

What it reported doing in 2024

To provide units of safe and affordable housing for low income seniors and families.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 93
  • Accountability: 84
  • Sustainability: 38
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.3%; rating input score 93
  • Program expense ratio: 93.8%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 14th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.2%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 1.65; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 17.5%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -5% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -9.9% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 93.3% of revenue deployed · 93.8% of spending went to programs
  • Governance: 4 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.3M in reported program spending
  • Leadership: top reported pay $933K · 8 people listed · 6 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 227 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.