South Central Indiana Housing Opportunities Corpor

Nonprofit profile at a glance

EIN
471012649
IRS 990 coverage
2019–2019
Forms available
Form 990 2019, Form 990-EZ 2018
Location
Bloomington, IN, USA
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Homeowners & Tenants Associations

Official website

Reported finances

Revenue
$310,117
Expenses
$92,226
Assets
$927,031
Liabilities
$728,191

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • John Vargo (President)
  • Nordia McNish (Vice President)
  • Deborah Myerson (Executive Director)

Highest reported compensation

  • Deborah Myerson (Executive Director): $48,200 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordable housing opportunities

What it reported doing in 2019

Housing4Hoosiers - 247 tenants served, 80% estimated to come from low-inccome households as a partner with the Monroe county Housing & Eviction Prevention Project55 participants at the 2019 Housing4Hoosiers Tenant/Landlord Workshops63 People served by Housing Navigators rotating amoung four different local agencies: Community Kitchen, Mother Hubbards Cupboard, Perry Township Trustee, and Monroe county Public Library$1.4 Million: total anticipated development cost of Phase 1 of Switchyard Apartments, under construction in 201943,081 users of the Housing4Hoosiers.org website267 responses to email and phone requests for guidance from the Housing4Hoosiers Help Desk320 downloads of our publication Renting in Indiana: A handbook for Tenants and Landlords

Operating model

Revenue model
Donor-supported. 100% 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

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: 92
  • Accountability: 74
  • Sustainability: 73
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 27.8%; rating input score 28
  • Program expense ratio: 93.6%; rating input score 94
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 70.3%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 10.05; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 52.3%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 52.4% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 131.2% per year; rating input score 100; 100th percentile among comparable filings

Details

  • Where the money goes: 27.8% of revenue deployed · 93.6% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $86K in reported program spending
  • Leadership: top reported pay $48K · 8 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 28/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.