Salem Housing Development Corporation

Nonprofit profile at a glance

EIN
470635210
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Omaha, NE, USA
Phone
4024518456
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$535,102
Expenses
$535,072
Assets
$917,945
Liabilities
$1,648,036

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

Leadership & pay

10 people listed

Executive titles in this filing

  • MARK OWSLEY (PRESIDENT)
  • GARY WALKER (VICE PRESIDENT)

People named in this filing

  • MARK OWSLEY (PRESIDENT)
  • JAMES BREWER (DIRECTOR)
  • GARY WALKER (VICE PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Salem housing develpment corporation is a not-for-profit corporation that was formed may 15, 1981 under the not-for-profit statues of the state of Nebraska. The corporation was formed for the purpose of operating a 50 unit community known as j.c. Wade senior villa located in omaha, Nebraska, which provides housing for low income elderly persons.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
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: 87
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 44
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98%; rating input score 98
  • Program expense ratio: 98%; rating input score 98
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 1.72; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 1.8; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: -4.3% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 98% of revenue deployed · 98% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $524K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Sustainability: Operating margin scored 36/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.