Race Housing Corporation

Nonprofit profile at a glance

EIN
260393656
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2007
Location
Cincinnati, OH, USA
Phone
5136192948
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$26,596
Expenses
$38,414
Assets
$398,058
Liabilities
$147,577

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JAMES STEFFEY (CEO)

Highest reported compensation

  • JAMES STEFFEY (CEO): $153,152 total reported compensation
  • KEITH LUKEN (CFO): $107,736 total reported compensation

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

Overview

Mission

Provides residential services, skill development, support services, and mental health service to children and adults with developmental disabilities.

What it reported doing in 2024

(a) to buy, own, sell, assign, mortgage, or lease any interest in real estate and personal property and to construct, maintain, and operate improvements thereon necessary or incident to the accomplishment of the purposes set forth in article ii hereof, but solely in connection with the project assisted under section 202 of the housing act of 1959, as amended or section 811 of the national affordable housing act. (b) to borrow money and issue evidence of indebtedness in furtherance of any or all of the objects of its business, and to secure the same by mortgage, pledge, or other lien on the corporation's property. (c) to do and perform all acts reasonably necessary to accomplish the purposes of the corporation, including the execution of a regulatory agreement with the secretary of housing and urban development, and of such other instruments and undertakings as may be necessary to enable the corporation, its successors and assigns, so long as a mortgage on the corporation's property is held by the secretary of housing and urban development. (d) in the event of the dissolution of the corporation or the winding up of its affairs, or other liquidation of its assets, the corporation's property shall not be conveyed to any organization created or operated for profit or to any individual and all assets remaining after the payment of the corporation's debts shall be conveyed or distributed only to an organization or organizations created and operated for nonprofit purposes similar to those of the corporation other than one created for religious purposes; provided, however, that the corporation shall at all times have the power to convey any or all of its property to the secretary of housing and urban development.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 56
  • Accountability: 95
  • Sustainability: 35
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 71.2%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -44.4%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 10.36; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 60.2%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -1.2% per year; rating input score 0; 47th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: -3% per year; rating input score 0; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 71.2% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $27K in reported program spending
  • Leadership: top reported pay $153K · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.