Orange Housing Development Corporation

Nonprofit profile at a glance

EIN
330427434
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Orange, CA, USA
Phone
7147711439
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$12,960,697
Expenses
$5,508,489
Assets
$80,572,768
Liabilities
$17,775,298

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

Leadership & pay

10 people listed

Executive titles in this filing

  • EUNICE BOBERT (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • EUNICE BOBERT (CHIEF EXECUTIVE OFFICER): $363,527 total reported compensation
  • VALMIR FERNANDES (CONST MANAGER): $224,445 total reported compensation
  • JEANNETTE HOROWITZ (PROJECT MANAGER): $150,772 total reported compensation

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

Overview

Mission

Ohdc was established to expand housing opportunities for low-income households as a nonprofit developer and has worked with a variety of local jurisdictions in building, acquiring, renovating and managing permanent affordable housing units to low-income families and seniors. Housing is provided by owning properties outright or as a general partner in housing partnerships. Mission-based participation in partnerships and llcto foster housing for low-income families and seniors ohdc participates in section 42 limited partnerships which qualify under the low-income housing tax credit program. The ownership percentage as the nonprofit partner is generally 1% or less and for many projects the up-front capital contributions is not required or insignificant. Participation in housing partnerships is an extension of the mission to provide long-term affordable housing.

What it reported doing in 2024

Housing operated as pass-through entities - general partnership interestsohdc was organized in 1990 for the purpose of providing housing and related services to low-income persons. The organization currently owns and operates over 81 projects including participation in section 42 real estate partnerships or llcs, which aggregate 2,508 units placed in service.

Operating model

Revenue model
Earned-program. 68% 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

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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 80
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36%; rating input score 36
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 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: 57.5%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 14.63; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 13.4%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 14th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 36% of revenue deployed · 92.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $5.1M in reported program spending
  • Leadership: top reported pay $364K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 68 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 — Financial Efficiency: Mission deployment rate scored 36/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.