Incommon Housing Development Corporation

Nonprofit profile at a glance

EIN
882700449
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Omaha, NE, USA
Phone
4029336672
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$375,408
Expenses
$437,139
Assets
$1,941,874
Liabilities
$1,880,992

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

Leadership & pay

8 people listed

Highest reported compensation

  • SHERYL GARST (PROJECT MANAGER): $98,214 total reported compensation
  • RACHEL BAHL (SECRETARY): $80,860 total reported compensation
  • CHRISTIAN GRAY (MEMBER): $77,531 total reported compensation

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

Overview

Mission

Our mission is to build strong neighborhoods where people of all incomes can achieve their full potential by primarily developing and operating high quality affordable, mixed income and workforce housing; promoting neighborhood development through investments that generate permanent jobs; stewarding permanently affordable homes to foster the accretion of new generational wealth; and by planning and implementing other economic programs and community formation initiatives critical to these purposes.

What it reported doing in 2024

The mission of incommon housing is to "strengthen vulnerable neighborhoods by developing and preserving affordable, dignified housing." this is accomplished by developing housing that prioritizes neighborhood voices, is thoughtfully designed, contributes to the community, and fosters stability. Incommon housing supports incommon community development in addressing neighbors' critical need for affordable housing as the overall mission of grassroots neighborhood revitalization is advanced. The primary objective of incommon housing is to develop new and preserve existing multi- and single-family housing benefitting low-income neighbors. In 2024, 206 neighbors were provided dignified, affordable housing through the work of incommon housing. Since its founding in 2022, incommon housing has finalized the hanscom & Georgia row apartments, which provides 76-units of housing for over 100 neighbors and has launched the community land trust, a new non-profit that supports homeownership opportunities within incommon's neighborhoods. Incommon housing is also developing new, affordable, multi-family housing within the park avenue neighborhood, which will provide 121 residential units and 4,000 square feet of commercial space.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 related-organization disclosures are missing and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th 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: -16.4%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 4.44; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 22.5%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 63.1% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 43.7% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 76.1% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 6 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $437K in reported program spending
  • Leadership: top reported pay $98K · 8 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes major donors and related organizations
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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: Related-party transparency scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.