Ovid Area Nonprofit Housing Corporation Inc

Nonprofit profile at a glance

EIN
383341278
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Ovid, MI, USA
Phone
9898345451
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$91,669
Expenses
$106,260
Assets
$441,190
Liabilities
$422,050

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

Leadership & pay

9 people listed

Executive titles in this filing

  • DEE RITTER (VICE PRESIDENT)
  • JENNIFER MARTIN (PRESIDENT)

People named in this filing

  • ROGER MATTHIES (TRUSTEE)
  • NANCY WATKINS (TRUSTEE)
  • MARLA DOBSKI (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Development and management of a 12-unit low-income senior housing project in the village of ovid, mi.

What it reported doing in 2024

Development, ownership and management of a 12-unit low-income senior housing project located within the village of ovid, mi.

Operating model

Revenue model
Earned-program. 98% 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 41
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.5%; rating input score 51
  • Program expense ratio: 44.5%; rating input score 44
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -15.9%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 4.15; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.96; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -5.8% per year; rating input score 0; 36th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 28th percentile among comparable filings

Details

  • Where the money goes: 50.5% of revenue deployed · 44.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $47K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 51/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.