Owensboro Area Affordable Housing Solutions Inc

Nonprofit profile at a glance

EIN
812937594
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Owensboro, KY, USA
Phone
2706835365
Rating
38
Verdict
REVIEW
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$22,932
Expenses
$20,029
Assets
$0
Liabilities
$0

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

Leadership & pay

5 people listed

People named in this filing

  • PAULA YEVINCY (CHAIRPERSON)
  • TISH OSBORNE (VICE CHAIRPERSON)
  • RICHARD STALLINGS (TREASURER)

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

To nbsp; promote nbsp; the nbsp; development nbsp; of nbsp; affordable nbsp; rental nbsp; properties nbsp; for nbsp; low nbsp; income nbsp; families nbsp; along nbsp; with nbsp; the nbsp; supportive nbsp; services nbsp; to nbsp; achieve nbsp; homeownership

What it reported doing in 2024

Rental income from 4 single family homes occupied by low income families. Rents restricted and utility allowance provided.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - The filed numbers largely add up. 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: 27
  • Transparency & Controls: 66
  • Accountability: 18
  • Sustainability: 39
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29%; rating input score 29
  • Program expense ratio: 33.3%; rating input score 33
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 72.7%; rating input score 73; 0th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.7%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: -45.5% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -13.4% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 29% of revenue deployed · 33.3% of spending went to programs
  • Governance: 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $15K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 10 of 12 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2017 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.

  • High — Financial Efficiency: Mission deployment rate scored 29/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 33/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.