Housing Lopez

Nonprofit profile at a glance

EIN
831734958
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Lopez Island, WA, USA
Phone
4259223980
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$9,055,781
Expenses
$4,972,340
Assets
$8,955,728
Liabilities
$570,706

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

Leadership & pay

8 people listed

People named in this filing

  • Richard Manderbach (Director)
  • Bill Johnson (Director)
  • Doug Stevenson (Director)

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

Housing Lopez is a non-profit organization dedicated to solving the rental housing crisis on Lopez Island by developing dedicated, affordable, sustainable rental housing communities.(See Schedule O for the full mission statement.

What it reported doing in 2024

Village North Project: In July of 2022 Housing Lopez purchased three parcels in Lopez Village for our second affordable rental housing project, a three-phase development project which will eventually provide up to 45 affordable rental housing units. In 2023 we proceeded with project design, the land use approval application, the permit process with San Juan County and fundraising. In 2024 we began site development and groundwork and continued our fundraising efforts. Factory-made modular units were designed and constructed. Utilities and foundations were in place by the end of 2024 for Phase I, which will soon provide 15 housing units in four structures (12 one-bedroom units and 3 two-bedroom units). These units will provide housing for low income working people, seniors, disabled individuals, or those transitioning out of homelessness. All units will be affordable to people earning up to 50% of Area Median Income. Two of the units will be fully ADA-complian

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.9%; rating input score 50
  • Program expense ratio: 90.8%; rating input score 91
  • Fundraising efficiency: $23.56 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 45.1%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 1.8; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 75.8% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 58% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 48.2% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 49.9% of revenue deployed · 90.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $4.5M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.