Housing Opportunity Development Corp

Nonprofit profile at a glance

EIN
363237455
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Skokie, IL, USA
Phone
8475642900
Rating
71
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$9,046,651
Expenses
$2,933,958
Assets
$23,983,179
Liabilities
$6,998,877

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

Leadership & pay

17 people listed

Executive titles in this filing

  • KATHLEEN CORTEZ (PRESIDENT)
  • WILLIAM A SHOLTEN III (VICE PRESIDENT)
  • RICHARD KOENIG (EXECUTIVE DIRECTOR)

Highest reported compensation

  • RICHARD KOENIG (EXECUTIVE DIRECTOR): $187,500 total reported compensation
  • BETH DEMES (DEPUTY DIRECTOR): $119,800 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 provide low-cost and/or rent subsidized housing to low/moderate income citizens in the north suburban communities of chicago in cook and lake counties, Illinois

What it reported doing in 2024

Provide low cost/rent subsidized housing to low income citizens in communities in the northern suburbs of metropolitan chicago

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
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 - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 79
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.1%; rating input score 31
  • Program expense ratio: 91.2%; rating input score 91
  • Fundraising efficiency: $114.77 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: 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: 67.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 8.17; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 7.2% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 16.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 31.1% of revenue deployed · 91.2% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.7M in reported program spending
  • Leadership: top reported pay $188K · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 27 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 28/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.