Homestead Enterprise Housing Inc

Nonprofit profile at a glance

EIN
351929988
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Hammond, IN, USA
Phone
2199893265
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$18,388
Expenses
$162,611
Assets
$1,590,886
Liabilities
$1,037,716

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MARIA CARMEN PANIAGUA (EXECUTIVE DIRECTOR/PRESIDE)
  • TOM DABERTIN (VICE PRESIDENT)

Highest reported compensation

  • MARIA CARMEN PANIAGUA (EXECUTIVE DIRECTOR/PRESIDE): $152,719 total reported compensation
  • BARBARA STANLEY (BOARD MEMBER): $86,841 total reported compensation
  • DAVID JASINSKI (BOARD MEMBER): $75,279 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 acquire, rehabilitate, develop, or sell homes to low and moderate income families to assure affordable housing.

What it reported doing in 2024

To acquire, rehabilitate, develop, or sell homes to low and moderate income families to assure afordable housing.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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. A relatively small share of total spending goes to programs and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 82
  • Accountability: 66
  • Sustainability: 24
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 21.8%; rating input score 22
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 50%; rating input score 50; 20th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -784.3%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 9.78; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 23.8%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -13.1% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: -31.4% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -8.3% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 21.8% of spending went to programs
  • Governance: 3 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $35K in reported program spending
  • Leadership: top reported pay $153K · 6 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 11 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.

  • High — Financial Efficiency: Program expense ratio scored 22/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.