Iowa 34 Housing Inc

Nonprofit profile at a glance

EIN
421460717
IRS 990 coverage
2012–2012
Forms available
Form 990 2012, Form 990-EZ 2011
Location
Creston, IA, USA
Phone
6417828431
Rating confidence
Limited
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$532,854
Expenses
$69,594
Assets
$533,319
Liabilities
$39,000

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

26 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Iowa 34 housing, inc. Was established to provide low-income housing in creston, union county, Iowa. Since its inception the organization has conducted this purpose through apartments built at 1013 manor drive, creston, Iowa.

What it reported doing in 2012

Rental housing which consists of a 16 unit apartment complex suited to the needs and living requirements of low-income occupants.on saturday april 14, 2012 a tornado struck the northwest section of creston, Iowa. The clearview apartment complex, owned by Iowa 34 housing, inc. At 1013 manor drive suffered a direct hit from the tornado. The complex experienced extensive damage and was deemed by local officials as not habitable and structurally unsafe april 15, 2012.the Iowa 34 housing board met on may 15, 2012 and voted not to rebuild. The organization has therefore moved to have this organization dissolved which formally occurred may 3, 2013.

Operating model

Revenue model
Other-operating. 94% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 81
  • Sustainability: 80
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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: 76%; rating input score 76; 15th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • 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: 86.9%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 7.66; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 110.8%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 94.4% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 28.8% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 19 of 25 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $70K in reported program spending
  • Leadership: top reported pay $88K · 26 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • 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 — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.