Story County Housing Trust

Nonprofit profile at a glance

EIN
814570694
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
West Des Moines, IA, USA
Phone
5153043524
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing, Shelter N.E.C.

Official website

Reported finances

Revenue
$948,885
Expenses
$764,263
Assets
$503,107
Liabilities
$122

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

Leadership & pay

11 people listed

People named in this filing

  • LATIFAH FAISAL (CHAIR)
  • CRAIG HENRY (VICE CHAIR)
  • STEVE RINGLEE (SECRETARY)

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

Story county housing trust provides low income persons in story county to innovative and flexible funding from various federal, state and local sources of revenue to produce new and preserve existing affordable housing, to promote homeownership, and support homes and transitional housing services.

What it reported doing in 2024

Story county housing trust provides funding to produce new and preserve existing affordable housing, to promote homeownership, and support homes and transitional housing services for low income residents of story county.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 88
  • Accountability: 82
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.4%; rating input score 72
  • Program expense ratio: 89.9%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.8%; rating input score 98; 45th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.5%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 30.2% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 32.5% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 27.3% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 72.4% of revenue deployed · 89.9% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $687K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 7 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.