Marengo Housing Corporation

Nonprofit profile at a glance

EIN
420983239
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
North English, IA, USA
Phone
3196423600
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$144,992
Expenses
$71,710
Assets
$1,325,936
Liabilities
$674,678

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

Leadership & pay

7 people listed

Executive titles in this filing

  • CAMERON MILES (PRESIDENT)

People named in this filing

  • KIM NELSON (VP)
  • CRYSTAL BENSCOTER (DIRECTOR)
  • SANDRA FOLKMANN (DIRECTOR)

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

Provide affordable housing for low & moderate income families through a program with the us dept. Of agricultural, rural development agency, & contributions to the community.

What it reported doing in 2024

Provide affordable housing for low and moderate income families through a program with the us dept. Of agriculture, rural development agency, and contributions to the community

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 81
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.2%; rating input score 57
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 4 of 7 controls in place; rating input score 57
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 50.5%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 18.49; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: -6.3% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -1.4% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 57.2% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $72K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 57/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.