Seward County Housing Corporation

Nonprofit profile at a glance

EIN
363856390
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Seward, NE, USA
Phone
4026433636
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$274,510
Expenses
$53,739
Assets
$2,998,357
Liabilities
$701,058

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

Leadership & pay

14 people listed

Executive titles in this filing

  • GREG MAJERUS (PRESIDENT)
  • LORI SOFLIN (VICE PRESIDENT)

People named in this filing

  • AMY GADEKEN (SECRETARY)
  • GREG MAJERUS (PRESIDENT)
  • LORI SOFLIN (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

To provide and facilitate the development of affordable housing, both owner and renter occupied, in the communities and unincorporated areas of seward county.

What it reported doing in 2024

To provide assistance to first-time low and moderate income buyers including administration of down payment assistance program currently serving 81 individuals. This program currently utilizes $1,739,040 in assets which are utilized and repaid to seward county housing corporation and reused to assist other individuals.

Operating model

Revenue model
Grant-funded. 98% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 69% for direct work, and 31% for grants.

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: 47
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 85
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 23.6%; rating input score 24
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 80.4%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 55.79; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -5.2% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: -7.2% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 23.6% of revenue deployed · 100% of spending went to programs
  • Governance: 14 of 14 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $54K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 24/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.