Project Home Inc

Nonprofit profile at a glance

EIN
391279307
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Madison, WI, USA
Phone
6082463737
Rating
87
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Expense Reduction Support

Official website

Reported finances

Revenue
$5,198,650
Expenses
$5,107,910
Assets
$5,198,805
Liabilities
$2,657,794

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

Leadership & pay

10 people listed

Executive titles in this filing

  • JOSEPHINE OYAMA-MILLER (PRESIDENT)
  • SANDY FISCHER (VICE PRESIDENT)
  • DENISE MATYKA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KENDRA EPPLER (FINANCE MANAGER): $105,350 total reported compensation
  • DENISE MATYKA (EXECUTIVE DIRECTOR): $87,550 total reported compensation

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

Overview

Mission

Improve the quality and affordability of housing for low to moderate income residents in dane and green county, wi.

What it reported doing in 2024

Home repair: project home contracts with city, county, state, and private organizations to provide home repair services to low- and moderate-income homeowners. Project home provided 238 repairs or rehab services to income eligible homeowners to maintain their homes by providing zero interest loans, grants, and subsidized labor by operating three major home rehabilitation programs and several minor repair events. Project home also performed 30 repairs or home performance jobs for homeowners in the private sector.

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 40
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.2%; rating input score 87
  • Program expense ratio: 88.7%; rating input score 89
  • Fundraising efficiency: $73.74 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings

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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.7%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -7.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 87.2% of revenue deployed · 88.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $4.5M in reported program spending
  • Leadership: top reported pay $105K · 10 people listed
  • Highest-paid contractors: 5 contractors listed · $1.2M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.