Hudson Housing Corporation

Nonprofit profile at a glance

EIN
460349132
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Sioux Falls, SD, USA
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$81,799
Expenses
$71,687
Assets
$300,507
Liabilities
$491,704

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DON LARSON (VICE PRESIDENT DIRECTOR)
  • ALAN MILLER (PRESIDENT DIRECTOR)

People named in this filing

  • DON LARSON (VICE PRESIDENT DIRECTOR)
  • JARED ANDERSON (DIRECTOR)
  • ALAN MILLER (PRESIDENT DIRECTOR)

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

Sole purpose is to provide housing for low income individuals

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 52
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.6%; rating input score 85
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 22nd 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 12.4%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 4.19; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 1.64; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 84.6% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $72K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2014 to 2024
  • 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 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.