Horizon Residential Alternatives Inc

Nonprofit profile at a glance

EIN
363245936
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Peru, IL, USA
Phone
8152234488
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$218,385
Expenses
$204,498
Assets
$350,148
Liabilities
$14,367

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

Leadership & pay

11 people listed

Executive titles in this filing

  • COTE KLINEFELTER (President)
  • AMY WILLIAMS (Vice President)
  • MICHELLE RICH (CEO)

People named in this filing

  • COTE KLINEFELTER (President)
  • AMY WILLIAMS (Vice President)
  • BONNIE STEINBERG (TREASURER/SEC)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide low income housing to the developmentally disabled.

Operating model

Revenue model
Grant-funded. 67% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 53
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 85.4%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.4%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 80% of revenue deployed · 85.4% of spending went to programs
  • Governance: 10 of 10 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $175K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.