Guste Homes Resident Management Corporation

Nonprofit profile at a glance

EIN
721428434
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New Orleans, LA, USA
Phone
5049139537
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeowners & Tenants Associations

Reported finances

Revenue
$2,997,464
Expenses
$2,801,786
Assets
$6,250,635
Liabilities
$3,630,927

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

Leadership & pay

7 people listed

Executive titles in this filing

  • CYNTHIA WIGGINS (PRESIDENT/CEO)

Highest reported compensation

  • CYNTHIA WIGGINS (PRESIDENT/CEO): $131,180 total reported compensation
  • RICKY VAUGHN (CFO): $127,137 total reported compensation
  • JESSE TURNER III (DIRECTOR OF MAINT.): $90,789 total reported compensation

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

Overview

Mission

GUSTE HOMES RESIDENT MANAGEMENT CORPORATION (GHRMC) was established primarily to assist in the provision of safe, decent, and sanitary housing for residents of low-income pursuant to United States Housing Act of 1937, as amended and 24 cfr part 964. Under the act the U.S. Department of Housing and Urban development has direct responsiblity for administering housing programs.

What it reported doing in 2024

GHRMC primarily assists in the provision of safe decent and sanitary housing to approximately 2400 low income residents.

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
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. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 90
  • Accountability: 91
  • Sustainability: 49
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.1%; rating input score 89
  • Program expense ratio: 95.7%; rating input score 96
  • 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: 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: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.5%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 2.23; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 15.6%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: -1% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 89.1% of revenue deployed · 95.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.7M in reported program spending
  • Leadership: top reported pay $131K · 7 people listed
  • Highest-paid contractors: 4 contractors listed · $731K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.
  • 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.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.