Mutual Housing Association of South Central Connecticut Inc

What it reported doing in 2024

Property managementthis division is responsible for the daily operations of the portfolio, which encompasses physical plant and applicant and resident compliance. Nwnh's portfolio, which is worth in excess of $75 million, consists of 25 developments (owned or managed) with over 750 units in ansonia, branford, bridgeport, clinton, east haven, guilford, hamden, milford, new haven, pawcatuck, shelton, southington, and waterbury.maintenance employees are responsible for routine and emergency services, cleaning grounds and common areas, general upkeep, and supervising and selecting contracted vendors for capital improvement and landscaping. Property management staff are responsible for resident selection, rent collection, marketing units, initial lease-up of new developments, responding to resident requests- such as transfers, reasonable accommodation requests, fair housing issues, and the annual income recertification and lease renewal. Neighborworks new horizon mutual housing 730 george street, new haven - 58 units. Commonly known as george street, units range from 1 bedroom to 4 bedrooms in size. The building underwent a gut rehab in 1996, and in 2013 the limited partnership interest was purchased by nwnh. Hubbard woods mutual housing apple tree lane, guilford - 13 units. The development consists of semi-detached and detached single-family homes newly constructed in 1996. These homes continue to be affordable in a community where housing prices have traditionally been among the highest in the nation. Nwnh purchased the limited partnership interest in 2013. The development received a capital grant from the department of housing in 2016 and rehabilitated all units. Guilford interfaith mutual housing scattered sites throughout guilford 21 units. Due to the success of the hubbard woods development, nwnh was invited by the guilford interfaith housing corporation to develop 13 additional housing units and to acquire and renovate eight other scattered site homes. The project was completed in 2000. Gilbert avenue/derby avenue mutual housing 145 -153 gilbert avenue, new haven, and 80-82 derby avenue 14 units nwnh rehabbed three buildings in 2001, creating homes for ten families. The properties are contiguous to the new way horizon mutual housing and share a playground with new way horizon. In 2004, nwnh rehabbed four more units on derby avenue in the west river neighborhood. Valley mutual housing pershing drive, ansonia 9 units nwnh rehabilitated three houses and provided affordable units with off street parking by tearing down two other houses in 2004. The development has gone through energy efficiency audits via the healthy homes initiative. Richard street mutual housing - richard street, new haven- 20 units. Occupied in the second half of 2005, these 2, 3 & 4 bedroom units are in rehabbed buildings on one of fair haven's quieter streets. In 2014, the limited partnership interest was purchased by nwnh. Funding is being requested from the state of Connecticut and the city of new haven to update units.richard street ii 7-9 & 15-17 richard street, new haven 6 units occupied in november 2010, richard street ii is a continuation of our richard street development which is designed not only to provide more quality affordable housing but to eliminate blight in a block wide area on the approach to our presently occupied richard street development. Ferry mutual housing - ferry street, new haven 24 units and a family learning center in december 2006, 24 resident families began occupancy, and nwnh began hosting community meetings, events, trainings, conferences, and support groups in the learning center. Willow mutual housing- 203-209, willow street, 103, 105 & 126 chestnut street and 240-242, 244-246, 248, 252-254 willow street. Waterbury - 33 units located in the historic overlook neighborhood, this substantial rehab brought 33 units from sub-standard to quality housing stock. Interiors feature skylights, granite countertops, and bay and floor t

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 94.1%; rating input score 94
• Fundraising efficiency: $28.54 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • 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: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -282.4%; rating input score 0; 0th percentile among comparable filings
• Total-asset coverage ratio: 1.95; rating input score 61; 61st percentile among comparable filings
• Liabilities to assets ratio: 0.91; rating input score 7; 7th percentile among comparable filings
• Officer compensation ratio: 1.7%; rating input score 77; 77th percentile among comparable filings

Growth

• Program expense growth: 13.4% per year; rating input score 100; 74th percentile among comparable filings
• Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
• Asset growth: 2.6% per year; rating input score 100; 22nd percentile among comparable filings