The Housing Foundation-disp

Nonprofit profile at a glance

EIN
010367546
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Orono, ME, USA
Phone
2078664634
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$665,694
Expenses
$601,222
Assets
$2,534,498
Liabilities
$2,881,283

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

Leadership & pay

9 people listed

Executive titles in this filing

  • ELIZABETH BICKNELL (VICE-PRESIDENT)
  • JOHN MCCORMACK (PRESIDENT)
  • DUSKA HAYMAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DUSKA HAYMAN (EXECUTIVE DIRECTOR): $4,225 total reported compensation

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

Overview

Mission

To provide low-income housing and the related management services.

What it reported doing in 2024

The organization provides low-income housing with a 24 unit facility known as deer run apartments located in deer isle, Maine and a 16 unit facility known as benjamin river apartments located in sedgwick, Maine.

Operating model

Revenue model
Earned-program. 99% 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

STRONG - 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 assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 60
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.1%; rating input score 90
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • 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: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.7%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 4.22; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 1.14; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 90.1% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $601K in reported program spending
  • Leadership: top reported pay $4K · 9 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.