Home Forward Development Enterprises Corporation

Nonprofit profile at a glance

EIN
203448706
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Portland, OR, USA
Phone
5038028300
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$1,038,036
Expenses
$2,812,971
Assets
$40,206,013
Liabilities
$739,244

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Matthew Gebhardt (Chair-President)
  • Jenny Kim (Vice President)

Highest reported compensation

  • Ivory Matthews (Secretary): $419,637 total reported compensation
  • Kandy Sage (Treasurer): $322,677 total reported compensation

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

Overview

Mission

To support Home Forward in the development redevelopment operation and maintenance of one or more housing projects as defined in ORS 456.065 in the State of Oregon.

What it reported doing in 2024

Cash flow distributions to support related properties

Operating model

Revenue model
Other-operating. 91% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - A large share of available resources goes toward mission work and program spending has grown recently. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 53
  • Accountability: 26
  • Sustainability: 41
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 66.4%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 4th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -171%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 14.29; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 56.8% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: -6.6% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 66.4% of spending went to programs
  • Governance: 0 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.9M in reported program spending
  • Leadership: top reported pay $420K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 38 of 40 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.