New Hope Housing Inc

Nonprofit profile at a glance

EIN
731419279
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Houston, TX, USA
Phone
7132220290
Rating
65
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$15,499,652
Expenses
$5,174,938
Assets
$97,656,463
Liabilities
$18,464,631

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

Leadership & pay

28 people listed

Executive titles in this filing

  • Joy Horak-Brown (President & CEO)

Highest reported compensation

  • Joy Horak-Brown (President & CEO): $382,524 total reported compensation
  • Tamara Foster (EVP Onsite Ops/Strategic Partnership): $249,741 total reported compensation
  • Ron Lastimosa (VP Real Estate Development): $234,541 total reported compensation

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

Overview

Mission

See Schedule O

What it reported doing in 2024

NHH at Harrisburg - 175 units New Hope opened its first mixed-use development, NHH at Harrisburg. This transit-oriented community is a 175-unit SRO serving individuals living on extremely low incomes. The nonprofit organization celebrated a grand opening in April 2018. Located on the light rail in Houston's East End, Harrisburg also includes 4,000 SF of retail space and 7,500 SF of commercial office space, which is now home to New Hope's corporate office. Underscoring their commitment to mission, New Hope located their headquarters where their residents live. As the organization's fourth LEED platinum certified development, NHH at Harrisburg was designed by Ernesto L. Maldonado, AIA of GSMA, Inc. As evidence of its impact on the community, Harrisburg has already been honored with several awards and accolades, including: the 2019 Houston Business Journal Landmark Award in Community Impact; the Houston Apartment Association Landmark Award in Tax Credits; the National Association of Housing and Redevelopment Officials Award of Excellence; and, the U.S. Green Building Council Leadership Award. The City of Houston committed $6.6MM in HOME funds plus a portion of local Homeless Bond Program funds. To create a true public/private partnership, New Hope leveraged these funds with 4% Housing Tax Credits and Bonds, allocated by the Texas Department of Housing and Community Affairs, in addition to grants and contributions from private sources. Under the terms of an agreement for the sale of New Hope's original 129-unit Hamilton Street Residence, Hamilton closed when Harrisburg opened. Hamilton residents were given the opportunity to move to the new 175-unit Harrisburg property or to another New Hope property of their choice, based on availability and eligibility.

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 99% 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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 29
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19.5%; rating input score 19
  • Program expense ratio: 42.8%; rating input score 43
  • Fundraising efficiency: $10.13 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 43.4%; rating input score 43; 10th percentile among comparable filings
  • 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; 66th 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: 66.6%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 18.87; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 32.1%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 25th percentile among comparable filings
  • Revenue growth: 11% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 13.9% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 19.5% of revenue deployed · 42.8% of spending went to programs
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 18 filed program accomplishments · $2.2M in reported program spending
  • Leadership: top reported pay $383K · 28 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.1M reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 14 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 19/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 43/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 43/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.