Housing Opportunities Inc

Nonprofit profile at a glance

EIN
043345195
IRS 990 coverage
2017–2018
Forms available
Form 990 2018
Location
North Adams, MA, USA
Phone
4136647710
Rating confidence
Limited
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$0
Expenses
$0
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • JENNIFER D HOHN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JENNIFER D HOHN (EXECUTIVE DIRECTOR): $106,736 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordable housing options to the residents of north adams, ma via homeownership.

What it reported doing in 2018

The organization owned and rented residential housing to low & moderate income families. The access to the housing units was only available to those individuals or families whose annual income is less than 60% of area median income. The organization had also acquired residential housing that was available for sale to moderate income buyers. The organization had accepted and received mortgage notes from the buyers of the affordable housing units. These mortgages were being serviced by the organization until the organization transferred the mortgages to the city of north adams effective 9/7/17. The organization transferred its rental property to another non-profit organization effective 6/27/17 and transferred seven properties available for sale to the city of north adams effective 9/7/17. The sole property was transferred to the city of north adams on 9/30/2018. The remaining assets of the organization were transferred to the city of north adams on 9/30/19 upon dissolution of the organization.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 80
  • Accountability: 84
  • Sustainability: NotEnoughData
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 7th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -200% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: -200% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $107K · 4 people listed
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 2 filing years from 2017 to 2018
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.