Martin Luther King Housing Development Association

Nonprofit profile at a glance

EIN
943081814
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Tacoma, WA, USA
Phone
2536821300
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$285,575
Expenses
$434,533
Assets
$2,052,775
Liabilities
$2,731,848

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Linda Fotiou (Interim Executive Director)
  • Douglas Coleman (Board President)

Highest reported compensation

  • Linda Fotiou (Interim Executive Director): $66,897 total reported compensation
  • Annette Stewart (Comptroller): $54,088 total reported compensation

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

Overview

Mission

We are a Community Based Organization that provides Affordable Housing, Emergency Shelter, Supportive Services and promotes Self-Sufficiency, Homeownership, Neighborhood Revitalization and Economic Development.

What it reported doing in 2024

Martin Luther King Housing Development Association(MLKHDA) provides Affordable Housing to near-homeless and low-income individuals and families meeting the Pierce County area median income criteria. MLKHDA assists these individuals and families establish or re-establish their rental history while maintaining the lowest rents in Pierce County.

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 - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 77
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 80%; rating input score 80
  • 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 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -52.2%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 4.72; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 1.33; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 27.8%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: -5.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -8% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 80% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $348K in reported program spending
  • Leadership: top reported pay $67K · 4 people listed
  • Consistency: 42 of 42 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 8 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.