Research Institute for Housing America Trust Fund

What it reported doing in 2024

The institute sponsors and disseminates rigorous yet accessible research focused on issues impacting housing and mortgage markets.riha makes grants to institutions and individuals that further its exempt purpose of encouraging and aiding the pursuit of knowledge of mortgage markets and real estate finance. The research products that are supported with these grants are made available to the public through riha's website at www.housingamerica.org/publishedreports. The following papers have been published through the fiscal year 2025: fiscal year 2025-- who will buy the baby boomers' homes when they leave them?: an update the following papers have been published through the fiscal year 2024: fiscal year 2024-- mortgage banking in the united states, 1870-1940 (10-year anniversary re-release)-- mortgage design, underwriting, and interventions: promoting sustainable homeownershipfiscal year 2023-- a collection of essays on climate risk and the housing market volume i-- a collection of essays on climate risk and the housing market volume iifiscal year 2022-- the impact of climate change on housing and housing finance-- the distribution of wealth in america since 2016-- who will buy the baby boomers' homes when they leave them? Fiscal year 2021-- housing-related financial distress during the pandemic-- the distribution of wealth since the great recession-- the location of affordable and subsidized rental housing across and within the largest cities in the united states-- why are older workers moving less while working longer? Fiscal year 2020-- no new published papers in fy2020fiscal year 2019-- no new published papers in fy2019fiscal year 2018-- quantified parking: comprehensive parking inventories for five u.s. Citiesfiscal year 2017-- owned now rented later? Housing stock transitions and market dynamics-- managing mortgage product development risk (completed during the fiscal year 2017 but released on 9/14/2017) fiscal year 2016-- cognitive decline and financial decision-making as individuals age-- diverted homeowners, the rental crisis, and foregone household formation-- the affordability of owner-occupied housing in the united states: economic perspectivesfiscal year 2015-- demographic drivers of the us homeownerhsip rate: how should policy makers respond? Fiscal year 2014-- a profile of housing and health among older americans-- mortgage banking in the united states 1870-1940fiscal year 2013-- a profile of housing and health among older americans-- mortgage banking in the united states 1870-1940-- immigrant contributions to housing demand in the united states: a comparison of recent decades and projections to 2020 for the states and nationfiscal year 2012--measuring the benefits of homeowning: effects on children redux--the historical origins of americas mortgage laws--the great recession and attitudes toward home-buying--strategic default in the context of a social network: an epidemiological approachfiscal year 2011--homeownership boom and bust 2000 to 2009: where will the homeownership rate go from here?--homeownership education and counseling: do we know what works?--a study of real estate markets in declining cities fiscal year 2010 --a review of statistical problems in the measurement of mortgage market discrimination and credit risk --international comparison of mortgage product offerings --anatomy of risk management practices in the mortgage industry: lessons for the future --household reaction to the financial crisis: scared or scarred? --what happens to household formation in a recession fiscal year 2009 --a financial analysis of consumer mortgage decisions fiscal year 2007 --the impact of global capital flows and foreign financing on us mortgage and treasury interest rates fiscal year 2006 --study on housing trends among baby boomers

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 89%; rating input score 89
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 80%; rating input score 80; 1st 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: 48.6%; rating input score 49; 42nd percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
• Governance controls: 4 of 9 controls in place; rating input score 44
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • 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: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -44.1%; rating input score 6; 6th percentile among comparable filings
• Total-asset coverage ratio: 12.22; rating input score 91; 91st percentile among comparable filings
• Liabilities to assets ratio: 0.03; rating input score 37; 37th percentile among comparable filings
• Officer compensation ratio: 42.6%; rating input score 5; 5th percentile among comparable filings

Growth

• Program expense growth: 6.4% per year; rating input score 100; 59th percentile among comparable filings
• Revenue growth: -3.7% per year; rating input score 0; 13th percentile among comparable filings
• Asset growth: -0.1% per year; rating input score 0; 24th percentile among comparable filings