Housing Opportunities Mean Empowerment Iii Inc

Nonprofit profile at a glance

EIN
262927632
IRS 990 coverage
2014–2019
Forms available
Form 990 2019
Location
Chicago, IL, USA
Phone
7732612252
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$650,430
Expenses
$1,074,402
Assets
$8,728,767
Liabilities
$11,335,593

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DONALD J DEW (PRESIDENT/CEO)

Highest reported compensation

  • DONALD J DEW (PRESIDENT/CEO): $177,144 total reported compensation
  • JOYCE K WADE (TREASURER): $131,374 total reported compensation
  • KAREN D BARBEE-DIXON (DIRECTOR): $125,190 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordable housing to the elderly.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 65
  • Accountability: 69
  • Sustainability: 28
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.4%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 62.5%; rating input score 62; 11th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -65.2%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 8.12; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 1.3; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: -3.9% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.4% of spending went to programs
  • Governance: 5 of 8 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $177K · 8 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $143K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2014 to 2019
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.