Northern Homes Community Development Corporation

Nonprofit profile at a glance

EIN
383395829
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Boyne City, MI, USA
Phone
2315826244
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Official website

Reported finances

Revenue
$963,046
Expenses
$871,064
Assets
$5,485,121
Liabilities
$3,112,862

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

Leadership & pay

9 people listed

Executive titles in this filing

  • MEL MATCHETT (VICE PRESIDENT)
  • DAVID WHITE (PRESIDENT)
  • JANE MACKENZIE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JANE MACKENZIE (EXECUTIVE DIRECTOR): $113,171 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 create and preserve quality affordable housing options for northern Michigan residents through education, development, and partnering with local communities.

What it reported doing in 2024

Single-family housing: in 2024, northern homes completed the rehabilitation and sale of one affordable home in gaylord. The organization also purchased a home in alba for rehabilitation and acquired a vacant lot in harbor springs where a new affordable home will be constructed. Multi-family housing: northern homes began rehabilitation of 48 bridge street, a duplex in petoskey, and initiated construction of the lofts at lumber square, a 60-unit affordable housing community in downtown petoskey. In addition, the organization secured grant funding for pinebridge place, a new 6-unit apartment development in charlevoix. These efforts advance the organization's mission to create and preserve affordable housing opportunities across northern Michigan through both new construction and rehabilitation of existing housing stock.

Operating model

Revenue model
Earned-program. 71% of the money available for current operations came from fees and other program revenue.
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

STRONG - 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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.3%; rating input score 67
  • Program expense ratio: 75.2%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Pass

Sustainability

  • Operating margin: 9.6%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 6.3; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 6.6% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 10.7% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 67.3% of revenue deployed · 75.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $655K in reported program spending
  • Leadership: top reported pay $113K · 9 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 5 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.

  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.