Twin Cities Housing Development Corporation

Nonprofit profile at a glance

EIN
363287080
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
St Paul, MN, USA
Phone
6512920211
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$8,443,480
Expenses
$6,785,701
Assets
$50,477,598
Liabilities
$36,054,380

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

Leadership & pay

14 people listed

Executive titles in this filing

  • LAURA HANSEN (VICE PRESIDENT)
  • BARBARA M MCQUILLAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • BARBARA M MCQUILLAN (EXECUTIVE DIRECTOR): $261,870 total reported compensation
  • KEN ISAACSON (DEVELOPMENT MANAGER): $189,871 total reported compensation
  • MARGARET METZDORFF (SENIOR ASSET MANAGER): $162,853 total reported compensation

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

Overview

Mission

Twin cities housing development corporation's (tchdc) mission is to provide quality affordable housing for low and moderate income persons which is respectful of the communities in which the housing is located.

What it reported doing in 2024

See schedule o

Operating model

Revenue model
Earned-program. 70% 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. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 85
  • Accountability: 100
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.8%; rating input score 79
  • Program expense ratio: 97.4%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 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: 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: 19.6%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 7.44; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.71; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 11.2%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 10.6% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 13.7% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 78.8% of revenue deployed · 97.4% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.6M in reported program spending
  • Leadership: top reported pay $262K · 14 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 38 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.