Squareone Villages

What it reported doing in 2024

Permanently affordable housing: a primary purpose of squareone villages is to acquire and hold land in trust in order to provide for permanently affordable housing for people with low-incomes with the objective of forever removing the land from the speculative market. Squareone develops housing on the land in an environmentally sensitive and socially responsible manner. Squareone specializes in developing cooperative housing that is controlled by the residents through democratic process. This includes leasehold housing co- ops, where the co-op leases the land and housing from squareone, and limited-equity housing co-ops, where the co-op owns the housing and leases the land from squareone. Staff provides ongoing training and support to the co-op's members and board in operations and management of the property. Emerald village eugene (eve) is a 22-unit leasehold housing cooperative located in eugene, Oregon that opened in 2018. It consists of 22 detached tiny homes and shared amenities including a bike shelter, tool shed, community building with meeting space and cooking facilities, gardens and greenhouse. To qualify for residency at eve, households must earn 50% of the area median income or under. In 2024, monthly housing costs at eve ranged from 264-366, including utilities. Cottage village cooperative (cvc) is a 13-unit leasehold housing cooperative located in cottage grove, Oregon that opened in 2020. The project was developed by squareone in partnership with the cottage village coalition, a committee of local volunteers passionate about addressing issues of housing and homelessness in their rural community. It consists of 13 detached tiny homes, and a shop building that was converted into a common house in 2022 for resident meetings and gatherings. To qualify for residency at cvc, households must earn 50% of the area median income or under. In 2024, monthly housing costs at cvc ranged from 374-525, including all utilities except electrical. C street cooperative is a 6-unit limited-equity housing cooperative located in springfield, Oregon that opened in 2021. The project was developed by squareone in partnership with cultivate, inc. It consists of 6 one-bedroom suites within 2 dwellings units on a typical residential lot. To qualify for residency at c street, households must earn 80% of the area median income or under. In 2024, monthly housing costs at c street were 825, including utilities. Peace village cooperative (pvc) is a 70-unit limited-equity housing cooperative located in eugene, Oregon that began construction in 2022. Squareone purchased the 3.6-acre property from peace presbyterian church. It consists of 70 studio, one-bedroom, and two-bedroom dwellings and utilizes the existing buildings on the property to provide common laundry, storage, cooking, and gathering space. To qualify for residency at pvc, households must earn 60% of the area median income or under. Occupancy opened at the end of 2023, and monthly housing costs are 450-750, including utilities. Plans are being developed for a fifth co-op called rosa village with construction expected to begin in late 2025.

Financial Efficiency

• Mission deployment rate: 49.9%; rating input score 50
• Program expense ratio: 67.4%; rating input score 67
• Fundraising efficiency: $13.92 raised per $1 spent on fundraising; rating input score 48; 48th 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: 9 of 9 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: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 30.2%; rating input score 84; 84th percentile among comparable filings
• Total-asset coverage ratio: 7.39; rating input score 88; 88th percentile among comparable filings
• Liabilities to assets ratio: 0.23; rating input score 40; 40th percentile among comparable filings
• Officer compensation ratio: 16.1%; rating input score 17; 17th percentile among comparable filings

Growth

• Program expense growth: 34.1% per year; rating input score 100; 94th percentile among comparable filings
• Revenue growth: 17.2% per year; rating input score 100; 85th percentile among comparable filings
• Asset growth: 28.2% per year; rating input score 100; 92nd percentile among comparable filings