Prospera Housing Community Services

What it reported doing in 2024

To support the organization mission, the organization provided administrative support for the non-profit and for-profit ownership of 4,831 units of low-income housing, provided and supervised social services and resident activities, and engaged in fundraising activities for housing acqusition and rehabilitation and social services and resident activities. The organization maintained u. S. Department of housing and urban development (hud) property based section 8 housing assistance payment (hap) rental assistance contracts. The organization maintained compliance with the regulations of the Texas department of housing and community affairs (tdhca), hud, and city and county affordable housing programs.the organization has a volunteer board of directors comprised of community and resident participants. The full board meets regularly to provide guidance and oversight in furtherance of the organization mission.the organization continued to directly own and operate renaissance village apartments, a low-income housing apartment complex with 67 units. The organization also continued to provide oversight and management of seven low-income apartment complexes and to serve as the sole member for the disregarded entities (for income tax purposes) that owned and operated these low-income apartment complexes (100% of the units are section 8): hcs 308, llc dba sherwood apartments, 56 unitshcs 312, llc dba robinhood apartments, 69 unitshcs 313, llc dba north star village apartments, 56 unitshcs 314, llc dba fox run apartments, 150 unitshcs 401, llc dba lantana square apartments, 44 unitshcs 501, llc dba frio apartments, 63 unitshcs 502, llc dba village circle apartments, 50 unitsthe organization executive director served as the executive director for 15 associated housing boards that operate low-income properties. All board members of the organization and its associate boards served without compensation other than reimbursement by the organization of expenses incurred directly related to boards activities (primarily travel expenses associated with board meetings).the organization also provided oversight for resident services and/or community learning center programs at most of its low-income housing properties. A quality assurance program was followed to ensure compliance with company guidelines and with u.s. Department of hud regulations pertaining to neighborhood networks centers.tax credit entities: the organization formed various entities other than the single member limited liability companies listed above to acquire, develop, construct, rehabilitate, and operate low-income multifamily projects in south and central Texas using low-income housing tax credits awarded by the tdhca. The organization formed single member limited liability companies and limited partnerships, including: 810/910 north frio street gp, llc, general partner810/910 north frio street, lpdba vista verde apartments192 units with 190 units as hud section 8cambrian east riverside gp, llc, general partnercambrian east riverside lpdba cambrian east riverside65 unitseasterling culebra apartments gp, llc, general partnereasterling culebra apartments, ltd.dba starling apartments90 unitsguild park gp, llc, general partnerguild park, lpdba guild park apartments114 unitshcs montabella pointe, llc, general partnermontabella pointe, ltd.dba montabella pointe apartments144 unitskingsville lulac manor gp, llc, general partnerkingsville lulac manor, lpdba kingsville lulac manor apartments88 units with 100% as hud section 8phcs rio manor gp, llc, general partnerphcs rio manor, lpdba rio manor apartments60 units with 27 units as hud section 8phcs village at roosevelt gp, llc, general partnerphcs village at roosevelt, lpdba village at roosevelt apartments57 unitspv country club village gp, llc, general partnerpv country club village, lpdba country club village apartments270 units with 82 units as hud section 8village at nogalitos gp, llc general partnervillage at nogalitos, lpdba village

Financial Efficiency

• Mission deployment rate: 40.6%; rating input score 41
• Program expense ratio: 83.2%; rating input score 83
• Fundraising efficiency: $34.61 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• 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; 66th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 50.4%; rating input score 94; 94th percentile among comparable filings
• Total-asset coverage ratio: 9.11; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 0.24; rating input score 54; 54th percentile among comparable filings
• Officer compensation ratio: 8.1%; rating input score 29; 29th percentile among comparable filings

Growth

• Program expense growth: 7.9% per year; rating input score 100; 61st percentile among comparable filings
• Revenue growth: 10% per year; rating input score 100; 74th percentile among comparable filings
• Asset growth: 9.3% per year; rating input score 100; 62nd percentile among comparable filings