Polk County Housing Trust Fund

Nonprofit profile at a glance

EIN
421510879
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Des Moines, IA, USA
Phone
5152823233
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$3,848,879
Expenses
$5,379,624
Assets
$14,181,279
Liabilities
$2,619,306

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

Leadership & pay

20 people listed

Executive titles in this filing

  • TOBY O'BERRY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • TOBY O'BERRY (EXECUTIVE DIRECTOR): $181,238 total reported compensation

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

Overview

Mission

To create/support affordable housing and related services in polk county. Also to develop countywide strategy and implement the commitment to affordable housing.

What it reported doing in 2024

Affordable housing program - provide financial assistance to qualifying developers, governmental agencies, or other non- profit housing developers to acquire, rehabilitate, or newly construct affordable housing for polk county residents. A formal review and approval process is in place in the providing of financial assistance. The organization expended $4,239,171 in housing program costs for the year ended june 30, 2025.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 89% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: $18.94 raised per $1 spent on fundraising; rating input score 58; 58th percentile among comparable filings

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: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 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: -39.8%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 2.64; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 3.4%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 12.6% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 10.9% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 11.9% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.2% of spending went to programs
  • Governance: 19 of 19 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.7M in reported program spending
  • Leadership: top reported pay $181K · 20 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 19 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 58/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.