Preserving Alameda County Housing Inc

What it reported doing in 2024

Property Rents - The specific charitable and public purposes for which the Corporation is organized are to benefit and support the Housing Authority of the County of Alameda, a public body, corporate and politic ("HACA") and its purposes in accordance with Section 509(a){3XA) of the Internal Revenue Code of 1986, as amended, by (i) providing affordable housing for low-income persons and households where no adequate housing exists for such groups; (ii) providing decent, safe and sanitary housing for and assisting low-income persons and households by enabling them to secure the basic human need of decent shelter; (iii) combating blight and deterioration in communities and contributing to their physical improvement; (iv) lessening the burden of government by acquiring leasehold or fee interests in housing for low-income persons and households that was previously owned by HACA as Low Income Public Housing and continuing to operate it as housing for low-income households: (v) promoting social welfare through community based housing activities; (vi) buying, owning, selling, assigning, mortgaging, or leasing any interest in real estate and personal property and constructing, maintaining, and operating improvements thereon necessary or incident to the provision of affordable housing; (vii) borrowing money and issuing evidence of indebtedness in furtherance of any or all of the objects of its business, and securing the same by mortgage, pledge or other lien on the Corporation's property; and (viii) by carrying out such other activities as the board of directors of the Corporation determines will benefit and support HACA.

Financial Efficiency

• Mission deployment rate: 47.5%; rating input score 47
• Program expense ratio: 80%; rating input score 80
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • 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: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 30%; rating input score 84; 84th percentile among comparable filings
• Total-asset coverage ratio: 8.29; rating input score 89; 89th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 86; 86th percentile among comparable filings
• Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

• Program expense growth: 9.3% per year; rating input score 100; 61st percentile among comparable filings
• Revenue growth: 6.3% per year; rating input score 100; 50th percentile among comparable filings
• Asset growth: 15.9% per year; rating input score 100; 76th percentile among comparable filings