Network for Oregon Affordable Housing

Nonprofit profile at a glance

EIN
931037330
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Portland, OR, USA
Phone
5032233211
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$11,836,357
Expenses
$11,532,543
Assets
$311,962,873
Liabilities
$287,017,717

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

Leadership & pay

19 people listed

Executive titles in this filing

  • WILLIAM A VAN VLIET (EXECUTIVE DIRECTOR)

Highest reported compensation

  • WILLIAM A VAN VLIET (EXECUTIVE DIRECTOR): $347,276 total reported compensation
  • ANN REMMERS (DEPUTY DIRECTOR/DIRECTOR OF LENDING): $264,516 total reported compensation
  • CYNTHIA A BARBER (DIRECTOR OF FINANCE & ADMIN): $215,987 total reported compensation

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

Overview

Mission

Noah is a certified nonprofit community development financial institution (cdfi) that was established to increase the state's supply of affordable housing while strengthening Oregon communities. (continued on sch o)noah strengthens communities through flexible financing, strategic partnerships, and creative solutions that build and preserve affordable housing in Oregon. Noah offers a variety of loan products to support the acquisition, renovation and construction of affordable housing properties that primarily serve households who earn below 60% of the area median income. Through its subsidiary, mpower Oregon, noah focuses on strategies for sustainable, affordable housing, specifically through coordination and financing of efficiency upgrades in multi-family properties. Noah also facilitates the Oregon housing preservation project, a statewide collaboration of public and private stakeholders dedicated to preserving Oregon's at-risk, publicly subsidized housing.

What it reported doing in 2024

Preservation loan program: these loans target the acquisition and preservation of (1) federally rent-subsidized units that are at risk of conversion to market rates, (2) properties for conversion to affordable, (3) manufactured home parks, and (4) land in desirable locations to preserve for development of affordable housing. During fiscal year 2024/2025, there was one (1) new loan made under this loan program with a value of $6.2mm. There were no loans in process at year end. Predevelopment loan program: these loans provide capital for both land acquisition and predevelopment activities. During fiscal year 2024/2025, six (6) new loans were closed under this program with a value of $4.4mm and there were four (4) loans in process of $2.5mm. Other/gap loans: these loans provide noah flexible capital for loans not appropriate for bank-source funding. One (1) other/gap loans was closed during fiscal year 2024/2025 with a total value of $285k .

Operating model

Revenue model
Earned-program. 70% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.3%; rating input score 89
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: $241.38 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.6%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 27.05; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 89.3% of revenue deployed · 91.3% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $10.5M in reported program spending
  • Leadership: top reported pay $347K · 19 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $180K reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 3 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.