Laborers Local 242 Home Development

Nonprofit profile at a glance

EIN
800777291
IRS 990 coverage
2012–2020
Forms available
Form 990 2020
Location
Des Moines, WA, USA
Phone
2064410470
Rating confidence
Limited
Sector
Labor Unions

Reported finances

Revenue
$0
Expenses
$628
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • DALE W CANNON (PRESIDENT)

Highest reported compensation

  • DALE W CANNON (PRESIDENT): $264,899 total reported compensation
  • MICHAEL WHITESIDE (OFFICER): $242,418 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote social welfare by developing, operating and providing low- and moderate-income housing through the acquisition of real property and the construction, maintenance and operation of residential improvements thereon serving exclusively low- and moderate-income households.

What it reported doing in 2020

Operating and maintenance expenses for low income housing development.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

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: 0
  • Transparency & Controls: 66
  • Accountability: 58
  • Sustainability: 1
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 60%; rating input score 60; 20th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Pass
    • 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: 22,287.1%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -21.4% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: 38.8% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: -5.1% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 3 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $628 in reported program spending
  • Leadership: top reported pay $265K · 5 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2012 to 2020
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.