The Housing Foundation - M & D

Nonprofit profile at a glance

EIN
223090975
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Orono, ME, USA
Phone
2078664634
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$3,232,563
Expenses
$3,137,355
Assets
$4,116,886
Liabilities
$373,886

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

Leadership & pay

9 people listed

Executive titles in this filing

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

Highest reported compensation

  • DUSKA HAYMAN (EXECUTIVE DIRECTOR): $135,516 total reported compensation

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

Overview

Mission

Primarily, to provide low-income housing and the related management services. Secondarily, to provide child care services.

Operating model

Revenue model
Other-operating. 85% of the money available for current operations came from other operating 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.1%; rating input score 97
  • 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: 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: 1 of 8 controls in place; rating input score 12
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.9%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 1.31; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 4.3%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 97.1% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.1M in reported program spending
  • Leadership: top reported pay $136K · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 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.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.