Headwaters Community Housing Trust

Nonprofit profile at a glance

EIN
851374727
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-T 2024
Location
Bozeman, MT, USA
Phone
4069229554
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$4,198,348
Expenses
$408,860
Assets
$27,111,557
Liabilities
$17,190

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

Leadership & pay

11 people listed

Executive titles in this filing

  • JOHN TAYLOR (PRESIDENT)
  • MARISA OWEN (VICE PRESIDENT)
  • NATHAN STEIN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • NATHAN STEIN (EXECUTIVE DIRECTOR): $60,035 total reported compensation

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

Overview

Mission

Increase and preserve the local supply of permanently affordable housing, including for 'missing middle-income' households in bozeman, Montana.

What it reported doing in 2024

Headwaters community housing trust takes a community-based approach to address affordable housing by empowering individuals and families through homeownership.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 89
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 5.7%; rating input score 6
  • Program expense ratio: 75.1%; rating input score 75
  • Fundraising efficiency: $283.15 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th 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: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 90.3%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 66.31; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 14.7%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 25.2% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 18.2% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 35.2% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 5.7% of revenue deployed · 75.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $307K in reported program spending
  • Leadership: top reported pay $60K · 11 people listed
  • Highest-paid contractors: 3 contractors listed · $1.4M reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 6/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 19/100.