MidPen Housing

Legal name: Mid-peninsula Holy Family Corporation

Nonprofit profile at a glance

EIN
770295718
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Foster City, CA, US
Phone
650-356-2900
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$25,813
Expenses
$28,452
Assets
$33,306
Liabilities
$61,989

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

Leadership & pay

22 people listed

Executive titles in this filing

  • MATTHEW O FRANKLIN (CEO/PRESIDENT/ASST. SECRET)

Highest reported compensation

  • MATTHEW O FRANKLIN (CEO/PRESIDENT/ASST. SECRET): $716,168 total reported compensation
  • MICHAEL J VERGURA (CFO / ASSISTANT SECRETARY): $550,709 total reported compensation
  • KASEY ARCHEY (ASSISTANT SECRETARY): $457,923 total reported compensation

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

Overview

Mission

To create a world where everyone has a quality home they can afford and access to opportunity.

What it reported doing in 2024

The corporation is a managing general partner of holy family associates, which owns and operates an apartment complex for the benefit of low income families.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 98% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 68
  • Accountability: 95
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.3%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.2%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 1.17; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 1.86; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 1,373.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: -27.6% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -25.1% per year; rating input score 0; 6th percentile among comparable filings

Details

  • What they do: 4 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 93.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $27K in reported program spending
  • Leadership: top reported pay $716K · 22 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 207 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.