Salt Lake Neighborhood Housing Services DBA Neighborworks Salt Lake
Nonprofit profile at a glance
- EIN
- 942481205
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Salt Lake City, UT, USA
- Phone
- 8015391590
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Support
Reported finances
- Revenue
- $4,573,739
- Expenses
- $3,603,670
- Assets
- $40,616,849
- Liabilities
- $11,449,236
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- Maria Garciaz (Executive Director)
- Amber Gracanin (Vice President)
- Wayne Murakami (President)
Highest reported compensation
- Maria Garciaz (Executive Director): $292,690 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Neighborworks salt lake builds on the strengths of neighborhoods, creating opportunities through housing, resident leadership, and youth and economic development. We work in partnership with our residents, government, and businesses to build and sustain neighborhoods of choice.
What it reported doing in 2024
The affordable housing mission investment fund is an enterprise level loan fund that lends money to exemplary rated neighborworks organizations across the country to help promote affordable and sustainable housing, economic development and neighborhood revitalization. Loans typically range from $250,000 to $1,500,000 for approximately 5 years and can be used by the organization for funding in one of the organization's lines of business. The loan is not project based, but can be shifted from project to project during the loan period.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 71
- Transparency & Controls: 75
- Accountability: 100
- Sustainability: 72
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 69.5%; rating input score 70
- Program expense ratio: 72.9%; rating input score 73
- Fundraising efficiency: $34.3 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- 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: 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 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: 21.2%; rating input score 78; 78th percentile among comparable filings
- Total-asset coverage ratio: 11.27; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.28; rating input score 36; 36th percentile among comparable filings
- Officer compensation ratio: 8.1%; rating input score 36; 36th percentile among comparable filings
Growth
- Program expense growth: 1.8% per year; rating input score 100; 21st percentile among comparable filings
- Revenue growth: 6.9% per year; rating input score 100; 54th percentile among comparable filings
- Asset growth: 7.3% per year; rating input score 100; 46th percentile among comparable filings
Details
- Where the money goes: 69.5% of revenue deployed · 72.9% of spending went to programs
- Governance: 17 of 17 board members independent · 8 of 8 filing controls reported
- Programs: 5 filed program accomplishments · $2.6M in reported program spending
- Leadership: top reported pay $293K · 18 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $403K reported
- Consistency: 27 of 27 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 2 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.
- 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.
- Moderate — Sustainability: Liabilities to assets ratio scored 36/100.
- Moderate — Sustainability: Officer compensation ratio scored 36/100.