Lee County Housing Development Corporation

Nonprofit profile at a glance

EIN
650295038
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Fort Myers, FL, USA
Phone
2392755105
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$5,616,214
Expenses
$4,885,084
Assets
$2,414,452
Liabilities
$635,761

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

Leadership & pay

4 people listed

Executive titles in this filing

  • AHMAD R KAREH (PRESIDENT)

Highest reported compensation

  • ERIKA COOKS (EXECUTIVE DI): $127,599 total reported compensation

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

Overview

Mission

Organization was formed to provide low income families of lee county Florida with affordable housing by constructing and providing needed resources to such individuals who would not be able to afford such housing for themselves or their families.

What it reported doing in 2024

Rehabilitation program: our commitment to revitalizing neighborhoods and preserving affordable housing stock has been evident in our rehabilitation efforts. Over the past year, we embarked on a journey to transform properties, undertaking extensive repairs and renovations to enhance safety, accessibility, and overall quality. These efforts not only improved the living conditions for residents but also breathed new life into our communities. Through adherence to stringent quality standards and regulations, we ensured that every rehabilitated property met or exceeded minimum housing standards, contributing to the long-term sustainability of our neighborhoods.

Operating model

Revenue model
Grant-funded. 95% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.8%; rating input score 85
  • Program expense ratio: 97.5%; rating input score 98
  • Fundraising efficiency: $152.58 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.49; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 24.2% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 16.6% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 84.8% of revenue deployed · 97.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.8M in reported program spending
  • Leadership: top reported pay $128K · 4 people listed
  • Highest-paid contractors: 4 contractors listed · $3.2M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.