Housing Initiative Partnership Inc

What it reported doing in 2024

Housing counseling - rental education and counseling services help clients locate and maintain affordable rental housing. Hip's counselors assist with housing search strategies, financial capability, tenant rights education, eviction prevention, and communication with landlords. Services include rent affordability analysis, identification of affordable housing opportunities, credit building, budget analysis, group educational sessions (virtual and in person) on local and state rent laws, fair housing rights education, guidance about the local eviction process, and application assistance for emergency rent assistance and all other rental and utility assistance resources. Housing stabilization - hip is the leading provider of rapid rehousing services in prince george's county. Rapid rehousing follows a housing first approach and is a primary solution for ending homelessness. Hip's case managers provide housing identification services, short-term rental assistance, and case management services to help individuals and families to quickly exit homelessness and secure permanent housing. Case management services include assessment of barriers to housing retention, creation of household budgets, development of individualized housing stability plans, tenancy skills education and coaching, connection to mainstream benefits and community resources, and advocacy with property owners and service providers. The program's intensity adjusts based on ongoing assessment and client progress.home sharing - hip launched a home sharing pilot program in january 2021, in partnership with montgomery county department of health and human services (dhhs), in which hip facilitates stable room rental agreements between homeowners and home seekers. The goal of the program is to help older homeowners age in place by reducing social isolation, creating monthly income for the homeowners, and encouraging long-term rental agreements where the renter may also assist with extra housekeeping, errands, or transportation help in exchange for lower rent.financial empowerment center - the gaithersburg financial empowerment center opened in march 2022 as a partnership between the city of gaithersburg and hip as the nonprofit provider. The model calls for financial counseling as a free public service of a municipality. Hip's certified financial counselors provide free, confidential financial counseling to help individuals and families pay down debt, establish good credit, develop budgeting skills and connect to safe, lowcost banking systems. This approach is data-driven and outcome-focused, backed by research confirming that low- and moderate-income clients can make significant improvements in their financial situation with financial counseling.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 93.7%; rating input score 94
• Fundraising efficiency: $37.86 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 17th 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: 98.9%; rating input score 99; 36th 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: 7 of 8 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: 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: -40.4%; rating input score 3; 3rd percentile among comparable filings
• Total-asset coverage ratio: 3.98; rating input score 80; 80th percentile among comparable filings
• Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
• Officer compensation ratio: 7%; rating input score 41; 41st percentile among comparable filings

Growth

• Program expense growth: 19% per year; rating input score 100; 84th percentile among comparable filings
• Revenue growth: 13.7% per year; rating input score 100; 79th percentile among comparable filings
• Asset growth: 22.7% per year; rating input score 100; 87th percentile among comparable filings