Riverton Community Housing

Nonprofit profile at a glance

EIN
237259966
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Minneapolis, MN, USA
Phone
6123313911
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$9,230,464
Expenses
$7,228,633
Assets
$50,404,728
Liabilities
$44,190,429

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

Leadership & pay

16 people listed

Executive titles in this filing

  • ACACIA BARD (BOARD VICE PRESIDENT)
  • COURTNEY OVERBY (BOARD PRESIDENT)
  • MARY NOVAK (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARY NOVAK (EXECUTIVE DIRECTOR): $182,741 total reported compensation
  • KARYN ZWEIG (DIRECTOR OF HOUSING): $109,769 total reported compensation

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

Overview

Mission

Create and foster a quality living experience with a dedication to operating cooperative housing through a nonprofit and democratic model.

What it reported doing in 2024

Co-op member engagement - collaborating with the 6 co-op communities leadership structures, providing educational, leadership and growth experience for residents to increase community engagement and grow personal skillsets is a strong part of the work. Providing support for cooperative members to be civically involved in their immediate and surrounding communities through a democratic model is a key to this work.

Operating model

Revenue model
Other-operating. 85% of the money available for current operations came from other operating 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84%; rating input score 84
  • Program expense ratio: 78.2%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.7%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 6.97; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 4%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 6.1% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 84% of revenue deployed · 78.2% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $5.6M in reported program spending
  • Leadership: top reported pay $183K · 16 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.