Iccf Nonprofit Housing Corporation

Nonprofit profile at a glance

EIN
382615690
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Grand Rapids, MI, USA
Phone
6163369333
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Rehabilitation

Official website

Reported finances

Revenue
$2,521,916
Expenses
$2,335,855
Assets
$4,609,170
Liabilities
$4,312,140

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

Leadership & pay

6 people listed

Executive titles in this filing

  • RYAN VERWYS (CEO)
  • MOLLY PETERSEN (VICE PRESIDENT OF FINANCE)

Highest reported compensation

  • RYAN VERWYS (CEO): $141,341 total reported compensation
  • MOLLY PETERSEN (VICE PRESIDENT OF FINANCE): $103,343 total reported compensation

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

Overview

Mission

Equitable opportunity. Affordable homes. Thriving neighborhoods.

What it reported doing in 2024

Iccf nonprofit housing corporation is the construction affiliate of the iccf community homes (iccf). We construct or re-construct 5-10 affordable homes annually. All revenue and expense for the programs is reported in the parent, iccf.

Operating model

Revenue model
Earned-program. 100% 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

SUPPORTED - 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: 45
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.7%; rating input score 50
  • Program expense ratio: 52.7%; rating input score 53
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 0; 0th percentile among comparable filings

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.4%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 1.97; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 23.1% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 12.9% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 49.7% of revenue deployed · 52.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $141K · 6 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 12 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Financial Efficiency: Fundraising efficiency scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.