Perpetual Housing Fund

Nonprofit profile at a glance

EIN
921553413
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Salt Lake City, UT, USA
Phone
8019174484
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$2,109,014
Expenses
$385,032
Assets
$2,714,360
Liabilities
$302,387

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

Leadership & pay

6 people listed

Executive titles in this filing

  • CHRIS PARKER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ASHLEY ATKINSON (DEVELOPMENT DIRECTOR): $189,500 total reported compensation
  • AMANDA RAINEY (PROJECT MANAGER): $117,838 total reported compensation

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

Overview

Mission

Remove the red tape, down payment, and income barriers that keep a rapidly expanding portion of Utah from building equity where they live. Our nonprofit does this by building high-quality, affordable housing and further allocating the majority of all short and long term proceeds the building produces to residents.

What it reported doing in 2024

Build affordable, for-sale condos, townhomes, and multiplexes that it sells to low and moderate income families without markup or profit.

Operating model

Revenue model
Earned-program. 70% 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 41
  • Transparency & Controls: 65
  • Accountability: 79
  • Sustainability: 79
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 17.2%; rating input score 17
  • Program expense ratio: 94.1%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 81.7%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 7.05; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 79.8%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 49.7% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 78.8% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 98.7% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 17.2% of revenue deployed · 94.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $362K in reported program spending
  • Leadership: top reported pay $190K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 8 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.

  • High — Financial Efficiency: Mission deployment rate scored 17/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.