The Housing Fund
Nonprofit profile at a glance
- EIN
- 621632388
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Madison, TN, USA
- Phone
- 6157807000
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $5,416,720
- Expenses
- $6,203,982
- Assets
- $49,877,910
- Liabilities
- $30,090,464
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- MARSHALL CRAWFORD (PRESIDENT/CEO)
Highest reported compensation
- MARSHALL CRAWFORD (PRESIDENT/CEO): $343,639 total reported compensation
- DAVID PARRISH (EVP & CFO): $241,224 total reported compensation
- ANGELA BELCHER (EVP & COO): $202,080 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The housing fund provides resources and creative leadership to help low and moderate income individuals and communities create and maintain affordable and healthy places to live. The housing fund makes low interest housing, development and community development loans to individuals, families and developers to acquire, create and maintain affordable and healthy homes and communities.
What it reported doing in 2024
The housing resiliency fund is a grant started in fy21 to help offset the recent property tax increase for low- to moderate-income homeowners in nashville. The primary objective of the housing resiliency fund is to preserve affordability for existing homeowners. In fy22, thf expanded the housing resiliency fund to assist landlords to help prevent the increase in property taxes from being passed through to the low and moderate income tenants. During the year, the housing resiliency fund supported 138 households in davidson county with $97,673 in current year disbursements to support the families with incomes at 100% or below ami. In fy25, thf assisted 49 landlords with property tax grants that offset the property taxes on 401 units helping 741 individuals stay in their rentals.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 61% for direct work, and 39% for grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 79
- Transparency & Controls: 67
- Accountability: 100
- Sustainability: 35
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 93.9%; rating input score 94
- Program expense ratio: 81.4%; rating input score 81
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 55.8%; rating input score 56; 16th 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: -14.5%; rating input score 10; 10th percentile among comparable filings
- Total-asset coverage ratio: 8.04; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0.6; rating input score 16; 16th percentile among comparable filings
- Officer compensation ratio: 14.9%; rating input score 19; 19th percentile among comparable filings
Growth
- Program expense growth: 10.7% per year; rating input score 100; 66th percentile among comparable filings
- Revenue growth: 3.3% per year; rating input score 100; 29th percentile among comparable filings
- Asset growth: 6.9% per year; rating input score 100; 44th percentile among comparable filings
Details
- Where the money goes: 93.9% of revenue deployed · 81.4% of spending went to programs
- Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $5.1M in reported program spending
- Leadership: top reported pay $344K · 20 people listed · 2 of 6 pay-setting controls reported
- Consistency: 33 of 34 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- Related organizations: 5 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 — Transparency & Controls: Grant itemization coverage scored 56/100.
- High — Sustainability: Operating margin scored 10/100.
- High — Sustainability: Liabilities to assets ratio scored 16/100.
- High — Sustainability: Officer compensation ratio scored 19/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.