Metropolitan Affordable Housing Corporation

Nonprofit profile at a glance

EIN
931078543
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Eugene, OR, USA
Phone
5416831751
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$9,994,746
Expenses
$6,101,503
Assets
$45,183,762
Liabilities
$19,124,603

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

Leadership & pay

13 people listed

Executive titles in this filing

  • PHIL FARRINGTON (PRESIDENT)

Highest reported compensation

  • DARCY PHILLIPS (EXECUTIVE DI): $158,512 total reported compensation
  • MICHELLE MARTIN (CFO): $131,591 total reported compensation
  • MICHELLE CADY (OPERATIONS D): $123,085 total reported compensation

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

Overview

Mission

Provide quality, affordable housing for people living on limited incomes, and offer services that promote opportunities for personal growth and economic independence.

What it reported doing in 2024

Resident services: cornerstone provides comprehensive support to enhance the well-being and stability of the residents we serve. We offer a variety of resident services designed to address the unique needs of our diverse population, which includes families, seniors, veterans, and individuals overcoming challenges such as domestic violence and substance abuse recovery. Our services include financial education, job training, health and wellness programs, youth activities, and food distribution. Households served represent largely diverse cultures that include african american, hispanic, american indian, asian, and multi-racial backgrounds.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 89
  • Accountability: 100
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.4%; rating input score 54
  • Program expense ratio: 88%; rating input score 88
  • Fundraising efficiency: $33.59 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 39%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 7.41; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 9.9% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 54.4% of revenue deployed · 88% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $5.4M in reported program spending
  • Leadership: top reported pay $159K · 13 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 7 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.