Homescasas Elderly Housing Inc

Nonprofit profile at a glance

EIN
341397637
IRS 990 coverage
2010–2019
Forms available
Form 990 2019
Location
Fremont, OH, USA
Phone
4193322678
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$478,771
Expenses
$514,840
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • ROBERT KARLOVETZ (PRESIDENT)
  • PEGGY BLISS (VICE PRESIDENT)

People named in this filing

  • ROBERT KARLOVETZ (PRESIDENT)
  • PEGGY BLISS (VICE PRESIDENT)
  • JERRY QUACKENBUSH (SECRETARY)

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 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide subsidized housing to the elderly.

What it reported doing in 2019

Ownership and operations of an apartment project under section 202 of the national housing act for elderly and handicapped persons. Rent charges and operating methods are regulated by hud.

Operating model

Revenue model
Grant-funded. 63% of the money available for current operations came from government grants.
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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 21
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.8%; rating input score 93
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.5%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: -9.4% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 92.8% of revenue deployed · 86.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $444K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2010 to 2019
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Growth: Asset growth scored 0/100.