Habitat for Humanity of Greater New Haven Inc

Nonprofit profile at a glance

EIN
061178712
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
New Haven, CT, USA
Phone
2037850794
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$2,983,109
Expenses
$2,861,746
Assets
$4,907,711
Liabilities
$738,772

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

Leadership & pay

16 people listed

Executive titles in this filing

  • PATRICK LUDDY (FORMER PRESIDENT)
  • KATIE MURPHY (PRESIDENT)
  • DENNIS MICHELS (EXECUTIVE DIRECTOR)
  • JENNIFER ROOK (CO-EXECUTIVE DIRECTOR)

Highest reported compensation

  • DENNIS MICHELS (EXECUTIVE DIRECTOR): $114,788 total reported compensation
  • JENNIFER ROOK (CO-EXECUTIVE DIRECTOR): $112,409 total reported compensation

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

Overview

Mission

Habitat for humanity of greater new haven inc., builds and renovates affordable homes in the greater new haven, ct area with volunteer labor and the future low income first time home-buyers who purchase these homes at below cost. Habitat provides the families financing through 0% interest 25 year mortgages. Habitat's program is funded through contributions, inkind donations, and grants from individuals, foundations, corporations, public agencies, religious organizations and from the sales of goods at it's restore.

What it reported doing in 2024

Habitat for humanity of greater new haven's restore sells new and gently used home improvement items, building materials, appliances, furniture and household items at significantly discounted prices. Net proceeds are used to expand habitat's home building capacity.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 87
  • Accountability: 100
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.9%; rating input score 88
  • Program expense ratio: 91.1%; rating input score 91
  • Fundraising efficiency: $15.23 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

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

Sustainability

  • Operating margin: 4.1%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 7.9%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 87.9% of revenue deployed · 91.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.6M in reported program spending
  • Leadership: top reported pay $115K · 16 people listed
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 6 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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.

  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.