Southwest Housing Solutions

Nonprofit profile at a glance

EIN
382324335
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3138418905
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,552,297
Expenses
$3,840,708
Assets
$32,690,058
Liabilities
$10,685,686

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

Leadership & pay

12 people listed

Executive titles in this filing

  • SEAN DE FOUR (PRESIDENT & CEO)
  • TIMOTHY THORLAND (EXECUTIVE DIRECTOR - MISIDE HOUSING)

Highest reported compensation

  • SEAN DE FOUR (PRESIDENT & CEO): $312,000 total reported compensation
  • MICHELLE SHERMAN (COO & CFO): $258,024 total reported compensation
  • TIMOTHY THORLAND (EXECUTIVE DIRECTOR - MISIDE HOUSING): $206,173 total reported compensation

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

Overview

Mission

Southwest housing solutions d/b/a miside housing's mission is caring professionals helping to improve the community through housing and real estate development.

What it reported doing in 2024

Property management of low income/tax credit housing. The organization provides property management and leasing services for 759 low income apartment units annually.miside housing is recognized as a leader in providing high-quality affordable apartments and townhouses for rent. We provide opportunities for all residents to work together to improve the quality of life in the community. Our management team is experienced and bilingual, and committed to resident satisfaction.development of low income/tax credit housing. The organization has developed 15 lihtc properties since 1998 and continues efforts for neighborhood revitalization through residential and commercial development.

Operating model

Revenue model
Earned-program. 62% of the money available for current operations came from fees and other program revenue.
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 - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 70
  • Accountability: 86
  • Sustainability: 39
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.5%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: 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: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.1%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 8.51; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 14.6%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -8.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -7.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.7M in reported program spending
  • Leadership: top reported pay $312K · 12 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $908K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 42 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 15/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.