Oregon Affordable Housing Assistance Corporation

Nonprofit profile at a glance

EIN
273146613
IRS 990 coverage
2013–2022
Forms available
Form 990 2022
Location
Salem, OR, USA
Phone
5039862000
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$2,632,777
Expenses
$816,532
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • EMESE PERFECTO (PRESIDENT AND DIRECTOR)

Highest reported compensation

  • CALEB YANT (TREASURER AND DIRECTOR): $100,997 total reported compensation
  • EMESE PERFECTO (PRESIDENT AND DIRECTOR): $87,018 total reported compensation
  • KIM FREEMAN (SECRETARY AND DIRECTOR): $74,219 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2022

Loan refinance assistance & rebuilding homeownership assistance pilot programs: the loan refinancing assistance pilot project assisted underwater homeowners who have regained employment or recovered from financial distress, and demonstrate the ability to afford loans reflective of the current values of their homes. Existing home loans are purchased by the Oregon affordable housing assistance corporation at or below the current appraised value of the home and at least 10 percent below the outstanding principal balance. The loans are then refinanced to an amount equal to the home's current appraised value. This program closed as of december 31, 2018. The rebuilding american homeownership assistance pilot program (rahapp) assisted homeowners, who are in a negative equity position, refinance into new loans that permit the homeowners to rebuild equity in their homes faster than their existing mortgage loans currently allow, or to lower their monthly payment amounts. Existing home loans are purchased by the Oregon affordable housing assistance corporation and refinanced at a 15- or 30-year fixed mortgage rate. This program closed as of december 31, 2017.there were no loan repurchases during the year ended december 31, 2022. Expenses incurred during the year were to wind down and close out the programs.

Operating model

Revenue model
Other-operating. 92% of the money available for current operations came from other operating 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

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 90
  • Accountability: 18
  • Sustainability: 51
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 34.6%; rating input score 35
  • Program expense ratio: 93.8%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 69%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 5.3%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: -10.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -9.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -5.4% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 34.6% of revenue deployed · 93.8% of spending went to programs
  • Governance: 4 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $766K in reported program spending
  • Leadership: top reported pay $101K · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $260K reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 9 filing years from 2013 to 2022
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.