Housing Hope

Nonprofit profile at a glance

EIN
943060709
IRS 990 coverage
2020–2022
Forms available
Form 990 2022
Location
Everett, WA, USA
Phone
4253476556
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Temporary Housing

Official website

Reported finances

Revenue
$9,610,580
Expenses
$14,686,313
Assets
$48,266,883
Liabilities
$33,503,440

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • CHARLES FREDRICK SAFSTROM (CEO)
  • TOM BERQUIST (PRESIDENT)
  • JENNIFER MARVIN (VICE-PRESIDENT)

Highest reported compensation

  • CHARLES FREDRICK SAFSTROM (CEO): $198,802 total reported compensation
  • JANICE NISHIKAWA (CFO): $150,407 total reported compensation
  • RENATA HOYLE MAYBRUCK (COO): $144,575 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote and provide a continuum of safe, decent, affordable housing and necessary related services for very low income and low income residents of snohomish county and camano island.

What it reported doing in 2022

The agency's social service program has been "vocationalized" to help participants gain critical job readiness skills necessary to be competitive in the job market and to contribute positively to the community's workforce. Employment readiness program components include classes, coaching, mentoring and volunteering and paid jobs experiences. As participants increase their employment readiness skills, they are assisted to secure permanent paid employment that becomes the launching pad for helping them determine a career direction and path. During the year ended june 30, 2023, the college of hope program provided 271 individuals classes to improve their skills and knowledge in the areas of parenting & family life, mental health, economic wellbeing, health & wellness and housing expertise.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 88% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 80
  • Accountability: 97
  • Sustainability: 31
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 72.9%; rating input score 73
  • Fundraising efficiency: $5.54 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 95.2%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -52.8%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 3.29; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: -15.1% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 72.9% of spending went to programs
  • Governance: 20 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $10.7M in reported program spending
  • Leadership: top reported pay $199K · 25 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $1.6M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 3 filing years from 2020 to 2022
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 12 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Fundraising efficiency scored 18/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.