Habitat Homeownership Finance Solutions Inc

Nonprofit profile at a glance

EIN
994539172
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-N 2024
Location
Indianapolis, IN, USA
Phone
3179212121
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Expense Reduction Support

Reported finances

Revenue
$3,816,743
Expenses
$3,768,914
Assets
$6,391,876
Liabilities
$6,967,721

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • JIM MORRIS (BOARD PRESIDENT)

Highest reported compensation

  • JIM MORRIS (BOARD PRESIDENT): $251,766 total reported compensation
  • ANNIE COSTLOW (BOARD TRESURER): $157,319 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The corporation is organized and shall operate exclusively for charitable purposes of providing affordable home mortgages to assist low and moderate-income families who lack access to capital, with the purpose of providing services that expand homeownership opportunities to underserved individuals and families, and any other purposes described in section 501(c)3 of the internal revenue code or any corresponding provisions of future united stated revenue laws.

What it reported doing in 2025

Provide accessible and affordable home mortgages to empower low- and moderate-income families who have limited access to traditional capital, expanding pathways to sustainable homeownership and strengthening communities.

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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 74
  • Accountability: 72
  • Sustainability: 39
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 11th 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: Fail
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.3%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 1.7; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 1.09; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.8M in reported program spending
  • Leadership: top reported pay $252K · 5 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.