Tacoma/Pierce County Habitat for Humanity

What it reported doing in 2024

Since 1985, tacoma/pierce county habitat for humanity has bridged the gap between the housing crisis and affordable homeownership, helping over 300 families step into first-time homeownership. We work with income-qualified households earning at or below 80% of the area median income (ami) - many of whom have been priced out by ever-increasing home prices. With a committed and diverse team, tacoma habitat offers a comprehensive range of homeownership services in pierce county - including housing development, counseling, advocacy and home repair.homeownership: tacoma habitat is committed to providing affordable homeownership opportunities for pierce county families earning up to 80% of the area median income. We build around 10 new construction homes per year and aim to rehabilitate 10-20 homes a year with our housing preservation project. Potential homeowners must be able to afford a monthly mortgage that does not exceed 30% of their income and commit to sweat equity hours to build their home and those of their habitat neighbors.housing counseling: tacoma habitat is a hud-certified housing counseling agency. Our housing counselors meet with future habitat homeowners but also provide counseling to all residents located in pierce county. They provide one-on-one support as well as homeownership-preparedness and foreclosure prevention workshops throughout the year. Aging in place: tacoma habitat offers critical home repairs and modifications for seniors, veterans and persons with disabilities to help maintain a safe and livable home. This can be as simple as a ramp to the front door to as substantial as replacing an entire roof. We have assisted over 250 households since the inception of this program in 2020completing about 50-55 per year.tacoma habitat has been driven by volunteerism ever since our founding in 1985participation and community are habitat's greatest strengths. Every year, over 1,100 volunteers help us build homes, work in the office and support the organization's retail stores. We also facilitate volunteer build trips to international affiliates across the world. Also to support our mission, tacoma habitat has four retail stores located in tacoma, puyallup, spanaway and lakewood. The stores offer gently used furniture, appliances, and building supplies at greatly reduced prices. Profit from the stores helps build more affordable homes in pierce county.tacoma/pierce county habitat for humanity has always valued partnerships throughout our history. Togetherwe build affordability and financial independence for working class families in pierce county.

Financial Efficiency

• Mission deployment rate: 49.7%; rating input score 50
• Program expense ratio: 87.4%; rating input score 87
• Fundraising efficiency: $34.4 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd 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; 66th 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: 45%; rating input score 93; 93rd percentile among comparable filings
• Total-asset coverage ratio: 3.59; rating input score 79; 79th percentile among comparable filings
• Liabilities to assets ratio: 0.41; rating input score 36; 36th percentile among comparable filings
• Officer compensation ratio: 5.2%; rating input score 49; 49th percentile among comparable filings

Growth

• Program expense growth: 6.6% per year; rating input score 100; 53rd percentile among comparable filings
• Revenue growth: 10.6% per year; rating input score 100; 76th percentile among comparable filings
• Asset growth: 7.7% per year; rating input score 100; 53rd percentile among comparable filings