Nevada Affordable Housing Assistance Corporation

Nonprofit profile at a glance

EIN
300154421
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Las Vegas, NV, USA
Phone
7026756638
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$36,674,235
Expenses
$36,456,635
Assets
$24,998,675
Liabilities
$21,513,610

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

Leadership & pay

6 people listed

Executive titles in this filing

  • VERISE CAMPBELL (CEO/COO)
  • JENEEAH NIA M GIRMA (PRESIDENT &)

Highest reported compensation

  • VERISE CAMPBELL (CEO/COO): $163,179 total reported compensation

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

Overview

Mission

The mission of nahac is to provide funds, subsidies, and/or benefits to Nevada homeowners or other targeted groups of individuals within the state of Nevada in order to assist with affordable or subsidized single or multi-family housing. At a minimum, this will encompass consistently determining what the specific needs of Nevada homeowners are, and any other applicable needs of the individual communities therein. Liaisons with public and private partners, as applicable, will be consistently sought to achieve this overarching objective. The nahac qualified and trained team of professionals will provide this service in an efficient and effective manner, making the needs of eligible Nevada homeowners its top daily priority.

What it reported doing in 2024

Unemployment mortgage assistance program (uma)- provides temporary financial assistance to eligible Nevada homeowners who wish to remain in their homes but have suffered a loss of income due to unemployment or underemployment. At least one homeowner must have experienced involuntary job loss due to the pandemic that occurred on or after january 21, 2020 and must be unemployed at time of the application review. The program will assist the household with up to twelve (12) months of forward payments until the homeowner regains employment. The assistance will also include reinstatement of the delinquent first mortgage loan, nonescrowed taxes, hoa fees, lot rent, and homeowners insurance. Mortgage reinstatement assistance program (mrap)- provides reinstatement assistance to qualified eligible Nevada homeowners in default who have experience a financial hardship due to the pandemic on or after january 21, 2020. Qualified homeowners will receive assistance with reinstatement of the homeowner's mortgage and will include any household related expenses such as property taxes, homeowner's insurance, hoa fees, and lot rent. Partial claim or deferred balance program - provides assistance to Nevada homeowners that received a covid-related partial claim or deferment from their mortgage servicer that occured on or after january 21, 2020.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.8%; rating input score 91
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 0.6%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0.4%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 12.4% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 0.4% per year; rating input score 100; 10th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 90.8% of revenue deployed · 91.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $33.3M in reported program spending
  • Leadership: top reported pay $163K · 6 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $545K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.