Select Milwaukee Inc

What it reported doing in 2014

Select milwaukee creates and preserves homeownership opportunities for people to enrich their lives and strengthen the community. Select milwaukee advances its mission by providing a variety of services for home buyers and home owners. For home buyers, homeownership promotion services include homeownership education, guidance and financing advice provided to a diverse audience of mostly first-time homebuyers to prepare for the responsibilities and challenges of homeownership that is sustainable and affordable. Customers secure from select milwaukee financial wellness guidance, credit and budget counseling, one-on-one and workshop home buying education, recommendations of trusted homeownership professionals and a variety of purchase, repair and energy efficiency incentives. Select milwaukee's employer assisted homeownership initiative administers homeownership fringe benefit programs of a number of large and small local employers. A chartered member of neighborworks america, for every dollar of congressional appropriation received through neighborworks, an addition $86 private investment is leveraged to support and advance select milwaukee's mission. Select milwaukee has adopted and endorsed national industry standards for homeownership education and counseling and is a hud-approved counseling organization. In 2014, 1,776 people received homeownership promotion services; 354 families became homeowners, their sales totaling $36.2 million, supported by $31.2 million in quality mortgage investment and $4.3 million select milwaukee-provided downpayment and closing cost incentives. Homeownership preservation line of business provides foreclosure intervention and prevention counseling to homeowners in jeopardy of losing their homes. Customers receive one-on-one counseling and advice to help achieve favorable outcomes to avoid foreclosure such as loan modification, refinance, and deed-in-lieu of foreclosure or short sale. Select milwaukee works closely with other organizations in the community to coordinate service delivery and outreach efforts through the take root milwaukee consortium. 273 individuals facing foreclosure received services through this program; 106 households avoided foreclosure. All totaled, select milwaukee's operation was responsible for approximately $5.9 million in economic activity while responsible for sustaining and/or creating 44 jobs.

Financial Efficiency

• Mission deployment rate: 30.7%; rating input score 31
• Program expense ratio: 89.8%; rating input score 90
• Fundraising efficiency: $130.54 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 70th 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; 65th 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: 65.9%; rating input score 97; 97th percentile among comparable filings
• Total-asset coverage ratio: 2.69; rating input score 74; 74th percentile among comparable filings
• Liabilities to assets ratio: 0.08; rating input score 71; 71st percentile among comparable filings
• Officer compensation ratio: 5.8%; rating input score 41; 41st percentile among comparable filings

Growth

• Program expense growth: 19.5% per year; rating input score 100; 83rd percentile among comparable filings
• Revenue growth: 28% per year; rating input score 100; 92nd percentile among comparable filings
• Asset growth: 34.5% per year; rating input score 100; 94th percentile among comparable filings