Housing Industry Foundation

Nonprofit profile at a glance

EIN
943100671
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Palo Alto, CA, USA
Phone
6504390049
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$3,386,938
Expenses
$3,548,552
Assets
$1,507,594
Liabilities
$7,272

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

Leadership & pay

36 people listed

Executive titles in this filing

  • STEVE SULLIVAN (EXECUTIVE DIRECTOR (THRU 8/24))
  • ROD EDWARDS (PRESIDENT)
  • NAZAR ELWAZIR (VICE PRESIDENT)
  • TOD SPIEKER (PAST PRESIDENT)

Highest reported compensation

  • STEVE SULLIVAN (EXECUTIVE DIRECTOR (THRU 8/24)): $191,804 total reported compensation
  • BARBIE CSORE (MANAGING DIRECTOR): $145,471 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 help individuals and families remain in or return to stable housing through our homeless prevention programs including emergency assistance grants, shelter renovations and affordable housing initiatives.

What it reported doing in 2024

Emergency housing grants: housing industry foundation believes that our teachers, social workers, health care professionals and first responders should be able to live and thrive in the communities they serve. In partnership with our extensive network of housing providers, hif is able to provide these units at up to 50% below market rate for up to three years for working families in santa clara and san mateo counties, California. We connect these essential workers to affordable units, saving families on average $12,000 a year on rent.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 45% for direct work, and 55% for grants.
  • 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: 78
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.9%; rating input score 88
  • Program expense ratio: 83.9%; rating input score 84
  • Fundraising efficiency: $2.88 raised per $1 spent on fundraising; rating input score 8; 8th 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 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: 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: -4.8%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 9.5%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 15.2% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 12.6% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 10.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 87.9% of revenue deployed · 83.9% of spending went to programs
  • Governance: 34 of 34 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $3M in reported program spending
  • Leadership: top reported pay $192K · 36 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Fundraising efficiency scored 8/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.