Riverside Housing Development Corporation
Nonprofit profile at a glance
- EIN
- 330468093
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Riverside, CA, USA
- Phone
- 9513416585
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Low-Income & Subsidized Rental Housing
Reported finances
- Revenue
- $4,844,828
- Expenses
- $5,005,361
- Assets
- $34,555,866
- Liabilities
- $27,996,499
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- AARON BROWN (CEO)
- BRUCE KULPA (EXECUTIVE DIRECTOR)
Highest reported compensation
- BRUCE KULPA (EXECUTIVE DIRECTOR): $148,533 total reported compensation
- MIRANDA HUNDLEY (COO): $132,624 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Organized for the purposes of participating in the development and operation of housing that is affordable to low and moderated income people within riverside and san bernardino counties in California, lessening the burden of the government, combating community detorioration, and eliminating neighborhood blight.
What it reported doing in 2024
Rehabilitation programs - helping low income homeowners in riverside and san bernardino rehab and maintain their houses to be free of health and safety and code related issues. As well as charging property management fees for other agencies.
Operating model
- Revenue model
- Earned-program. 91% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 92
- Accountability: 95
- Sustainability: 43
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.6%; rating input score 79
- Program expense ratio: 77.4%; rating input score 77
- Fundraising efficiency: Limited
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: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
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: -3.3%; rating input score 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 6.9; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 0.81; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 5.6%; rating input score 49; 49th percentile among comparable filings
Growth
- Program expense growth: 4.1% per year; rating input score 100; 34th percentile among comparable filings
- Revenue growth: 1.7% per year; rating input score 100; 19th percentile among comparable filings
- Asset growth: 0.7% per year; rating input score 100; 15th percentile among comparable filings
Details
- Where the money goes: 78.6% of revenue deployed · 77.4% of spending went to programs
- Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $3.9M in reported program spending
- Leadership: top reported pay $149K · 17 people listed
- Highest-paid contractors: 1 contractor listed · $145K reported
- Consistency: 32 of 32 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 23/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Moderate — Sustainability: Officer compensation ratio scored 49/100.