Ingraham Housing Corporation

Nonprofit profile at a glance

EIN
010495250
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
South Portland, ME, USA
Phone
2075235021
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$210,331
Expenses
$194,833
Assets
$1,946,119
Liabilities
$1,859,117

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Joseph R Everett (President)

Highest reported compensation

  • Joseph R Everett (President): $201,858 total reported compensation
  • Dawn A Ouellette (Chief Financial Officer): $193,174 total reported compensation

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

Overview

Mission

Ingraham Housing Corporation is a "Community Housing Development Organization" (CHODO) which obtains low income housing financing and leases properties to a related 501(c)(3) organization.

What it reported doing in 2024

Rental of properties to a related 501(c)(3) organization.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 66
  • Accountability: 76
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.6%; rating input score 93
  • 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: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

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: 7.4%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 9.99; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.96; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 25.6%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 1.3% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 92.6% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 3 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $195K in reported program spending
  • Leadership: top reported pay $202K · 5 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 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.

  • Review — Sustainability: Operating margin scored 55/100.
  • 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 14/100.