New Lima-Housing for the Future
Nonprofit profile at a glance
- EIN
- 341958570
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Lima, OH, USA
- Phone
- 4192249881
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Housing Support
Reported finances
- Revenue
- $404,949
- Expenses
- $423,633
- Assets
- $4,354,869
- Liabilities
- $13,235
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Scott Frenger (Executive Director)
- Ramona Hucks (President)
- Cynthia Davis-White (Vice President)
Highest reported compensation
- Scott Frenger (Executive Director): $72,613 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 provide housing opportunities and assistance for all low and moderate-income residents through a comprehensive program of financial assistance and education. New Lima Housing for the Future works with the City of Lima, Allen County, Ohio and Lima City Schools in an effort to further develop school sites within the CDBG target areas. Efforts within the low and moderate-income community is its focus: cooperation, communication and collaboration, its means.
What it reported doing in 2024
CHDO/Affordable Housing Development: New Lima Housing for the Future utilizes grant funds, often from multiple funding sources, to develop low-to-moderate income housing for the citizens in our service area. Low-to-moderate income is defined as households earning at or below 80% of the area median income level. The Organization has developed smaller in-fill single-family homeownership units up to partnering with for profit development partners on tax credit rental developments as large as 88 living units. New Lima Housing for the Future is the sole, certified Community Housing Development Organization (CHDO) for the City of Lima. The Organization has held this role since 2003. Being a certified CHDO allows our organization access to grant funds through the HOME Investment Partnership program, which the City of Lima receives annually. These funds are used by the Organization to fund affordable housing development within the Lima community.
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 100% 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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 61
- Transparency & Controls: 83
- Accountability: 90
- Sustainability: 49
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 69%; rating input score 69
- Program expense ratio: 66.7%; rating input score 67
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- 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: Fail
Sustainability
- Operating margin: -4.6%; rating input score 30; 30th percentile among comparable filings
- Total-asset coverage ratio: 10.28; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
- Officer compensation ratio: 17.1%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: 9.5% per year; rating input score 100; 68th percentile among comparable filings
- Revenue growth: 8.4% per year; rating input score 100; 67th percentile among comparable filings
- Asset growth: 12% per year; rating input score 100; 71st percentile among comparable filings
Details
- Where the money goes: 69% of revenue deployed · 66.7% of spending went to programs
- Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $283K in reported program spending
- Leadership: top reported pay $73K · 6 people listed
- Consistency: 27 of 28 current checks pass · 1 finding to review
- Schedules: 4 filed schedules
- Filing history: 12 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- 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.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 30/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 22/100.
- Review — Sustainability: Liabilities to assets ratio scored 52/100.