Hacienda Community Development Corporation

Nonprofit profile at a glance

EIN
930979064
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Portland, OR, USA
Phone
5035952111
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$13,369,686
Expenses
$13,617,911
Assets
$52,378,247
Liabilities
$12,157,127

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • ERNESTO FONSECA (CEO)

Highest reported compensation

  • ERNESTO FONSECA (CEO): $206,999 total reported compensation
  • GABRIELA ORDONEZ (DIRECTOR OF ECONOMIC OPPORTUNITIES): $127,949 total reported compensation
  • DIANA D NUNEZ CESARES (COO): $116,170 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Hacienda is a latino community development corporation that strengthens families by providing affordable housing, homeownership spuport, economic advancement, and educational opportunties.

What it reported doing in 2023

Economic opportunity: started in 2006, the economic opportunity program forms a central piece of hacienda's strategy to help families build and protect their assets and financial security.economic opportunity includes two major programs: homeownership: hacienda is a hud-approved housing counseling program with a team of certified counselors. Hacienda staff provide financial coachingand work with families one-on-one to assist them in making the best financial choices for their household. The homeownership program includes: the camino a casa/pre-purchase program prepares prospective homebuyers for owning a first home. Clients work with hacienda's financial coaches and hud-certified housing counselors throughout the entirety of the home-buying process. In addition to mortgage-readiness and financial fitness workshops, they provide several opportunities for down-payment assistance. Clients are assisted with opening individual development accounts (ida's) which provide 5-1 matching dollars for down payments, small business, vehicle purchase and retirement.the default intervention program provides support to homeowners at risk of foreclosure. Hacienda's certified housing counselors work with those struggling financially to identify and explore all available options based on their specific situations. Services are free of charge.hacienda's mercado empresarios supports entrepreneurs through personalizedtechnical assistance to launch and scale their businesses, focusing on women-, minority- and immigrant-owned businesses. Hacienda's bilingual/bicultural business advisors provide one-on-one technical assistance, host spanish-language small business bootcamps, a monthly networking seminar and a variety of events and sales opportunities for entrepreneurs. Hacienda's mercado empresarios program is a critical part of the bipoc entrepreneurial landscape in the region, and hacienda is an active partner in portland's inclusive business resource network.hacienda's commitment to small businesses and entrepreneurism is also highlighted in their commercial property portland mercado, with 18 on-site businesses and a sliding-scale commercial kitchen. Portland mercado has become a thriving hub for cultural events, food, and entrepreneurism. Hacienda activates the space through hosting and supporting on-site events.

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 95% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 77
  • Accountability: 100
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.3%; rating input score 79
  • Program expense ratio: 77.3%; rating input score 77
  • Fundraising efficiency: $17.16 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 20th 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: 99.3%; rating input score 99; 34th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 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: 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: -1.9%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 3.85; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 11.6% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 15.3% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 79.3% of revenue deployed · 77.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $10.5M in reported program spending
  • Leadership: top reported pay $207K · 17 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.6M reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 19 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 53/100.
  • High — Sustainability: Operating margin scored 26/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.