Lower Merion Affordable Housing Corporation

Nonprofit profile at a glance

EIN
232826280
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Bryn Mawr, PA, USA
Phone
2156880432
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Rehabilitation

Official website

Reported finances

Revenue
$10,967
Expenses
$21,798
Assets
$1,103,438
Liabilities
$1,089,761

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

Leadership & pay

8 people listed

Executive titles in this filing

  • SCOTT KALNER (PRESIDENT)

People named in this filing

  • SCOTT KALNER (PRESIDENT)
  • KAREN W RAMSEY (VICE-PRESIDE)
  • ALISA MCCANN (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To use, to the extent available, both public and private resources to identify, develop and realize housing projects in lower merion township that serve the needs of low and moderate income families.

What it reported doing in 2024

Low to moderate income housing opportunities - the organization (lmah)receives expense reimbursements and advances from lower merion township funded by community develop. Block grants for capacity-building services. These funds enable lmah to provide administrative management services including identifying new projects, project feasibility studies and project fund packaging, as well as purchase of project properties. Add'l responsibilities include property maint. During construction, pre- sale marketing and pre-screening of prospective buyers. The board meets regularly and members attend township meetings relating to community development.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 44
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 79.7%; 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: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -98.8%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 50.62; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.99; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 49th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 14.5% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 79.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $17K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes related organizations
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.