Saint Mary's Housing Corporation

Nonprofit profile at a glance

EIN
510210514
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Bethesda, MD, USA
Phone
3019418040
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$7,563,355
Expenses
$5,178,423
Assets
$61,499,327
Liabilities
$339,480

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MICHAEL FONT (VICE PRESIDENT)
  • KEVIN WHITE (PRESIDENT)
  • JOHN SPENCER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOHN SPENCER (EXECUTIVE DIRECTOR): $159,760 total reported compensation

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

Overview

Mission

To acquire and maintain affordable housing for low- and moderate-income senior citizens.

What it reported doing in 2024

Wingler west, llc, a wholly-owned subsidiary limited liability company, owns and operates wingler west apartments, 132 rental apartments for low- and moderate-income persons in ashburn, Virginia.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 84% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 82
  • Accountability: 95
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.3%; rating input score 47
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 31.5%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 11.88; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 6.7% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 47.3% of revenue deployed · 92.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.8M in reported program spending
  • Leadership: top reported pay $160K · 6 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $174K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.