Hrdc

What it reported doing in 2024

Housing: hrdcs housing initiatives work across all levels of housing security, from homelessness to homeownership. Hrdcs housing programs work to ensure that every member of our community can afford to have and preserve place to call home, whether it is in the form of emergency shelter, transitional housing, affordable rentals, rental subsidies, down payment assistance, or home repairs. Hrdc incorporates its community development and strategic planning initiatives into a housing strategy to meet both the needs of the community and our customers through a broad case management and resource navigation approach. Hrdcs housing initiative encompasses the warming center (seasonal shelter), transitional housing programming, affordable housing units, and a homeownership center offering services from homebuyer education to foreclosure prevention. Hrdc's housing initiative comprises 21.20% of all organizational expenditures and operations. Hrdc's housing programs provide: 132 beds of individual and 42 family rooms of year-round emergency shelter, outreach and drop-in services, 60 units of youth and transitional housing, 400 rental assistance vouchers, almost 500 units of affordable housing, homeless prevention and housing placement assistance, homebuyer education, and down payment assistance. This is made possible by funding from: private donations, department of housing and urban development, home, neighborworks of Montana, Montana department of commerce, private grants, city of bozeman, management fees, rents, program revenue and other sources.

Financial Efficiency

• Mission deployment rate: 67%; rating input score 67
• Program expense ratio: 85.7%; rating input score 86
• Fundraising efficiency: $66.85 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 6 of 6 controls in place; rating input score 100
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • 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: 21.9%; rating input score 83; 83rd percentile among comparable filings
• Total-asset coverage ratio: 3.35; rating input score 78; 78th percentile among comparable filings
• Liabilities to assets ratio: 0.19; rating input score 60; 60th percentile among comparable filings
• Officer compensation ratio: 3.6%; rating input score 63; 63rd percentile among comparable filings

Growth

• Program expense growth: 6.6% per year; rating input score 100; 53rd percentile among comparable filings
• Revenue growth: 7.2% per year; rating input score 100; 61st percentile among comparable filings
• Asset growth: 11.9% per year; rating input score 100; 72nd percentile among comparable filings