Merit Housing Incorporated

Nonprofit profile at a glance

EIN
330731671
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Orange, CA, USA
Phone
7147711479
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$334,202
Expenses
$4,416
Assets
$4,565,968
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • EUNICE BOBERT (CHIEF EXECUTIVE OFFICER)

People named in this filing

  • ROBERT WAGNER (CHAIRMAN)
  • SCOTT PARKER (SECRETARY)
  • MARCELLA BUTALA (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

Merit housing was established to expand housing opportunities for low-income households to low-income families and seniors. Housing may be provided by owning properties outright or indirectly by participating in housing partnerships. Presently merit is primarily providing housing through partnerships.mission-based participation in partnershipsto foster housing for low-income families and seniors, merit housing, inc. Participates in section 42 limited partnerships which qualify under the low-income housing tax credit program. The ownership percentage as the nonprofit partner is generally 1% or less and for many projects the up-front capital contributions is not required or insignificant. Participation in housing partnerships is an extension of the mission to provide long-term affordable housing.

What it reported doing in 2024

The organization currently owns and operates 5 low income housing rental projects - 3 as the managing general partner and 2 as the limited partner. These rental projects together provide 581 rental units.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 5
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 94
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.2%; rating input score 0
  • Program expense ratio: 16%; rating input score 16
  • 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: 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 98.7%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 1,033.96; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -7.4% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 18.5% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 15.8% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 0.2% of revenue deployed · 16% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $708 in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 6 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 16/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.