HM Housing Development Corporation

Nonprofit profile at a glance

EIN
341938397
IRS 990 coverage
2009–2018
Forms available
Form 990 2018
Location
Cuyahoga Falls, OH, USA
Phone
3303841555
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Temporary Housing

Official website

Reported finances

Revenue
$92,146
Expenses
$124,625
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • FRED BERRY (President)

Highest reported compensation

  • FRED BERRY (President): $92,515 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Faith house provides quality, affordable housing and supportive services to homeless, single-parent families wihtin the northeast Ohio area.

What it reported doing in 2018

Permanent supportive housing program: 8 units of permanent supportive housing for homeless, single-parent families with a disability and low income. Provision for affordable housing, transportation, food, clothing, and supportive services for 5 families, totaling 12 individuals for the current fiscal year.

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 99% 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. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 16
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.4%; rating input score 96
  • Program expense ratio: 71.3%; rating input score 71
  • Fundraising efficiency: $554.71 raised per $1 spent on fundraising; rating input score 97; 97th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 80%; rating input score 80; 24th percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -35.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -13.7% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: -4.4% per year; rating input score 0; 47th percentile among comparable filings
  • Asset growth: -8.2% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 96.4% of revenue deployed · 71.3% of spending went to programs
  • Governance: 4 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $89K in reported program spending
  • Leadership: top reported pay $93K · 5 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 10 filing years from 2009 to 2018
  • Contacts: How to reach this organization
  • Related organizations: 9 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 32/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.