Provident Affordable Housing Resources Inc

Nonprofit profile at a glance

EIN
311707833
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Huntington Beach, CA, USA
Phone
7709332263
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing, Shelter N.E.C.

Reported finances

Revenue
$213,319
Expenses
$162,032
Assets
$5,088,097
Liabilities
$107,000

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

Leadership & pay

5 people listed

Executive titles in this filing

  • PHILIP J KENNEDY (PRESIDENT AND CEO)

Highest reported compensation

  • PHILIP J KENNEDY (PRESIDENT AND CEO): $75,000 total reported compensation
  • KATHRYN T WALKER (TREASURER AND CFO): $37,500 total reported compensation

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

Overview

Mission

The corporation's primary exempt purpose is to serve and relieve the poor and distressed, combat community deterioration, eliminate discrimination and prejudice and lessen neighborhood tensions by providing safe, decent and sanitary housing to persons of low and very low income.

What it reported doing in 2024

Consulting and developer services provided to organizations related to the acquisition, rehabilitation, and construction of various multifamily affordable housing complexes to be rented to or used by low income or very low income residents.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 70
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 31.4; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 69.4%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -13.6% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: -12.8% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $75K · 5 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 5 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • High — Grant Readiness: California registration: this organization is not authorized to operate as a charity in California.