Reliance Housing Foundation Inc

Nonprofit profile at a glance

EIN
650764732
IRS 990 coverage
2013–2014
Forms available
Form 990 2014
Location
Davie, FL, USA
Phone
9545334662
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$457,748
Expenses
$17,657,833
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • THOMAS BLUTH (INTERIM PRESIDENT)
  • ROBERT JACKSON (FORMER PRESIDENT)

Highest reported compensation

  • THOMAS BLUTH (INTERIM PRESIDENT): $81,438 total reported compensation
  • ROBERT JACKSON (FORMER PRESIDENT): $46,018 total reported compensation
  • SUMMER GREENE (DIRECTOR): $7,670 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Reliance's mission is to develop sustainable and diverse communities by building high quality affordable housing, revitalizing neighborhoods and responding to community needs.

What it reported doing in 2014

Reliance housing foundation, and its subsidiary organizations, provided affordable housing, ged equivalency programs, home ownership credit programs for future home purchase, independent living programs, and various other services for low and very low income individuals through ownership, operation, development and management of affordable housing projects.

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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 82
  • Accountability: 73
  • Sustainability: 6
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.7%; rating input score 81
  • Program expense ratio: 2.1%; rating input score 2
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • 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: 88.9%; rating input score 89; 23rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3,757.5%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 1%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: -128.7% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -105.1% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 80.7% of revenue deployed · 2.1% of spending went to programs
  • Governance: 8 of 9 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $370K in reported program spending
  • Leadership: top reported pay $81K · 11 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2013 to 2014
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 24 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: Program expense ratio scored 2/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.