Houston Apartment Foundation Inc

Nonprofit profile at a glance

EIN
741997269
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Houston, TX, USA
Phone
7135950300
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$1,137,015
Expenses
$1,186,836
Assets
$2,364,264
Liabilities
$107,113

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

Leadership & pay

56 people listed

Executive titles in this filing

  • CASEY MORGAN (CEO)
  • GINA ERWIN (PRESIDENT)
  • SHELLEY WATSON (PRESIDENT ELECT)
  • STEPHANIE GRAVES (IMMEDIATE PAST PRESIDENT)
  • MONICA GRACIA (VICE PRESIDENT AT LARGE)
  • DEBORAH HOLCOMBE (VICE PRESIDENT AT LARGE)

Highest reported compensation

  • CASEY MORGAN (CEO): $322,580 total reported compensation
  • SUSAN HINKLEY (VP OPERATIONS): $205,251 total reported compensation
  • TREY WIMBERLY (CFO): $176,851 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide education and training to the multi-housing industry in the greater houston area.

What it reported doing in 2024

Conduct educational courses and seminars to owners and managers of multi-family developments in houston. Provide educational courses to individuals with interest in careers in multi-family interest. Provide information to individuals attending multifamily industry exposition.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 93% 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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 66
  • Accountability: 91
  • Sustainability: 43
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95%; rating input score 95
  • Program expense ratio: 91%; rating input score 91
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 63rd 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: -4.4%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 1.99; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 95% of revenue deployed · 91% of spending went to programs
  • Governance: 53 of 53 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $323K · 56 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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: Fundraising efficiency scored 1/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.