Impact Housing Capital Inc

Nonprofit profile at a glance

EIN
464042978
IRS 990 coverage
2016–2018
Forms available
Form 990 2018
Location
Rice Lake, WI, USA
Phone
7153573334
Rating confidence
Limited

Reported finances

Revenue
$0
Expenses
$16,937
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • BRETT GERBER (PRESIDENT/CEO)
  • TOM WOODMAN (VICE PRESIDENT)

Highest reported compensation

  • BRETT GERBER (PRESIDENT/CEO): $715,817 total reported compensation
  • PAUL GUNTHER (SECRETARY/TREASURER): $133,179 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization provides financing for affordable housing and other real estate services, programs and/or activities in communities to improve conditions for low-income or disadvantaged populations.

What it reported doing in 2018

Impact housing capital incorporated (the organization) is a not-for-profit organization formed to provide financing for affordable housing and other real estate services, programs and/or activities in communities to improve conditions for low-income or disadvantaged populations. The organization is set up to invest in other community development corporations outside of the state of Wisconsin.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 68
  • Accountability: 47
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 18th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 2,080.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -145% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: -78.2% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 1 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $17K in reported program spending
  • Leadership: top reported pay $716K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 3 filing years from 2016 to 2018
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.