Housing Relinquished Fund Corp

Nonprofit profile at a glance

EIN
770166414
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Fresno, CA, USA
Phone
5594438400
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$5,351,401
Expenses
$706,561
Assets
$72,415,661
Liabilities
$5,275,082

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

Leadership & pay

5 people listed

Executive titles in this filing

  • TYRONE RODERICK WILLIAMS (CEO)

People named in this filing

  • CARY CATALANO (CHAIR)
  • ADRIAN JONES (VICE CHAIR)
  • TYRONE RODERICK WILLIAMS (CEO)

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

To promote the social welfare by assisting low to moderate income housing projects. Such assistance includes, but is not limited to, the providing of financing to low to moderate income housing projects which could not otherwise be acquired and/or properly maintained.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 21
  • Transparency & Controls: 90
  • Accountability: 66
  • Sustainability: 93
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 4.4%; rating input score 4
  • Program expense ratio: 57.1%; rating input score 57
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 86.8%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 102.49; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 26% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 13.6% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 4.4% of revenue deployed · 57.1% of spending went to programs
  • Governance: 5 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $404K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 25 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.

  • High — Financial Efficiency: Mission deployment rate scored 4/100.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.