Ketch Housing Inc

Nonprofit profile at a glance

EIN
480955785
IRS 990 coverage
2010–2021
Forms available
Form 990 2021
Location
Wichita, KS, USA
Phone
3163838700
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$417,170
Expenses
$317,648
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Sheila Brown (President)
  • Loren Anthony (Vice President)

Highest reported compensation

  • Sheila Brown (President): $110,901 total reported compensation
  • Patrick Butler (Secretary/Treasurer): $83,921 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide elderly and/or handicapped persons with housing facilities and services specifically designed to meet their physical, social and psychological needs and to promote their health, security, happiness and usefulness in longer living, charges for such facilities and services to be predicated upon the provisions, maintenance and operation thereof on the nonprofit basis; and to engage in such lawful activities and acts as the laws of the State of Kansas may allow in furtherance of the aforementioned purposes.

What it reported doing in 2021

Almond Tree Project is a housing project for low income, elderly and developmentally disabled pursuant to Section 202 of the National Housing Act. The Project is regulated by the U.S. Department of Housing and Urban Development (HUD) with respect to rental charges and operating methods. The Project has a twenty-year housing assistance contract with HUD and rental operations began in February 1988. The Project contains fifty units located in Wichita, Kansas, one of which is non-income producing for the house manager. The Project is Section 8 rent assistance and Section 202 direct loan program.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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 a large share of available resources goes toward mission work. Program spending has declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 90
  • Accountability: 91
  • Sustainability: 34
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.3%; rating input score 61
  • Program expense ratio: 80.5%; rating input score 80
  • Fundraising efficiency: Limited

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 9 controls in place; rating input score 78
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 23.9%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -2.6% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 61.3% of revenue deployed · 80.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $256K in reported program spending
  • Leadership: top reported pay $111K · 5 people listed
  • Consistency: 42 of 42 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 12 filing years from 2010 to 2021
  • Contacts: How to reach this organization
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.