San Luis Valley Housing Coalition Inc

Nonprofit profile at a glance

EIN
841245986
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Alamosa, CO, USA
Phone
7195879807
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Support

Official website

Reported finances

Revenue
$2,335,465
Expenses
$2,550,227
Assets
$15,204,079
Liabilities
$11,632,923

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

Leadership & pay

10 people listed

Executive titles in this filing

  • ELIZABETH HENSLEY (BOARD PRESIDENT)
  • HOYT ANDERSON (VICE PRESIDENT)
  • DAWN MELGARES (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAWN MELGARES (EXECUTIVE DIRECTOR): $112,595 total reported compensation

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

Overview

Mission

The mission of the organization is to help all community members of the san luis valley find and maintain safe and affordable housing. The organization provides several programs that help the community members find and maintain safe, decent, and affordable housing. Housing: high valley manor multifamily rent assisted housing, casita de la luna elderly/disabled rent assisted housing. Both usda and cdoh funded with casita also being post-15-year lihtc. Low-interest loan programs from single-family-owner-occupied home rehabilitation (cdoh, chfa, and usda funded). Mobile home park and other housing units: we operate a 185 lot mobile home park as a preservation project. We purchased an abandoned school for adaptive reuse. We purchase and manage single-family homes as affordable housing units. Down payment assistance (cdoh funded). Advocacy/education: tenant assistance (co health foundation), financial and maintenance education (chfa funded).

What it reported doing in 2024

Slvhc provides several activities that help our community members find and maintain safe, decent, and affordable housing through multiple government and foundation grant-funded programs. These programs are funded through the Colorado division of housing (cdoh), usda-rural housing, the Colorado housing and finance authority (chfa) and foundations including el pomar, the Colorado health foundation, the Colorado trust, anschutz family foundation and others. Most of our programs are funded through grants that are then provided as loans to clients with all payments received used to continue the programs . Sfoo home rehab: the hdg-funded grant was from 2021-2023 with extensions in 2023 till 12/31/2024 and in 2024 to 12/31/2024. 5 loans were closed in 2023 for this program between february and december. No loans were closed in 2024 due to staff changes and the housing market.down payment assistance (dpa): the hdg-funded grant was from 2021-2022 with a new grant for 2022-2023, which was extended to june 2025 then again until june 2026. In 2024 we closed 2 loans due to low affordable inventory and higher interest rates of first mortgages.affordable rent-assisted housing units: high valley manor (hvm) and casita de la luna (cdll) apartments: these two complexes provide rent and utility-assisted housing units to households at or below 80% area median income. All households pay 30% or less of their gross monthly income in housing costs (rent/utilities) with assistance from usda rural development. Units are 1-bedroom or 2-bedroom options with community space, outdoor space, coin-op laundry rooms, and parking provided. At hvm tenants pay electric only. Cdll tenants pay for electricity and heat. A site manager and maintenance person are provided for tenant needs. Hvm is a single three-story building that offers 32 rent-assisted units with two of those being ada one-bedroom, three are two-bedroom units, and 27 are one-bedroom units. Cdll is six smaller buildings that offers 27 units rent assisted units with one 2-bedroom and one 1-bedroom ada unit, six 2-bedroom units, and 19 1-bedroom units. These buildings provide housing to up to 60 individuals in a single year. Slvhc owns and operates hvm and is the general partner and manager for cdll.mobile home park and other housing units: we operate a 185-lot mobile home park as a preservation project. We purchased an abandoned school for adaptive reuse in 2022. We purchase and manage single-family homes as affordable housing units. We purchased a 4-unit complex in creede in march 2024.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 94
  • Accountability: 74
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: $113.99 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings

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: 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -9.2%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 5.96; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 23.9% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 16.2% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 21.1% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $113K · 10 people listed
  • Highest-paid contractors: 1 contractor listed · $329K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.