Portage Alternative Nonprofit Housing Corporation

Nonprofit profile at a glance

EIN
262804647
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Kalamazoo, MI, USA
Phone
2697204715
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$91,908
Expenses
$95,428
Assets
$670,200
Liabilities
$855,868

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

Leadership & pay

9 people listed

Executive titles in this filing

  • CAROLE MCNEES (PRESIDENT)

People named in this filing

  • CAROLE MCNEES (PRESIDENT)
  • DAVID F ANDERSON (VICE PRESIDE)
  • DEE VELKOFF (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 provide affordable housing for persons with a chronic mental illness.

What it reported doing in 2024

Operation of 10 one-bedroom apartments and one managers apartment for people with a disability who are living and working independently in the community. An on-site manager and 24-hour maintenance service are part of the network of support provided in the apartment building.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 a large share of available resources goes toward mission work. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 48
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.2%; rating input score 72
  • Program expense ratio: 69.6%; rating input score 70
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.8%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 7.02; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 1.28; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: -2.8% per year; rating input score 0; 27th percentile among comparable filings

Details

  • Where the money goes: 72.2% of revenue deployed · 69.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $66K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 7 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.

  • Review — Sustainability: Operating margin scored 51/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.