Hazen Pioneer Apartments

Nonprofit profile at a glance

EIN
811332947
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Hazen, ND, USA
Phone
7017486886
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$153,395
Expenses
$217,688
Assets
$3,030,107
Liabilities
$3,860,062

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Carla Borlaug (President (Until 11/24))
  • Nancy Wolf (VP (from 7/24)/President (Beg 11/24))
  • Troy Johnson (Vice-President (Until 07/24))

People named in this filing

  • Carla Borlaug (President (Until 11/24))
  • Darcy Kirschenheiter (Director)
  • Hailey Wiedrich (Treasurer)

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 provide safe affordable housing for our community.

What it reported doing in 2024

The Hazen Pioneer Apartment complex is an 18-unit multifaceted facility consisting of 14 one-bedroom apartment units that are available for eligible candidates as well as two, two-bedroom; and two, one-bedroom handicapped accessible apartment units. This complex was co-funded by approximately 50% in grant funds from the North Dakota Housing Incentive Fund (HIF) which was sponsored through the North Dakota Housing and Finance Agency (NDHFA). This long-term affordable housing project is therefore financed under the North Dakota Housing Finance Agency (NDHFA).

Operating model

Revenue model
Earned-program. 100% 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

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

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 39
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.8%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -41.9%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 13.92; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 1.27; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -5.6% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: -0% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: -3.1% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $193K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.