Happy Homes Capital Corporation

Nonprofit profile at a glance

EIN
352690228
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Boise, ID, USA
Phone
2085596844
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$326,158
Expenses
$295,662
Assets
$740,926
Liabilities
$1,053,658

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

Leadership & pay

6 people listed

Executive titles in this filing

  • COREY A CHECKETTS (PRESIDENT)

People named in this filing

  • COREY A CHECKETTS (PRESIDENT)
  • KELLI S CHECKETTS (DIRECTOR)
  • ALEXIS DYSON (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To support, develop, and operate affordable housing serving the elderly, and limited-income persons in underserved communities.

Operating model

Revenue model
Earned-program. 87% 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. Some filed totals do not add up and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 83
  • Accountability: 88
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.2%; rating input score 90
  • Program expense ratio: 99.5%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.4%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 2.51; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 1.42; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 98.9% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 99.2% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 99.8% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 90.2% of revenue deployed · 99.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $294K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 4 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 — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.