Valor Apartment Associates

Nonprofit profile at a glance

EIN
454624834
IRS 990 coverage
2014–2025
Forms available
Form 990 2025, Form 990-N 2013
Location
Tukwila, WA, USA
Phone
2069012000
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Group Homes

Reported finances

Revenue
$208,016
Expenses
$311,972
Assets
$4,585,477
Liabilities
$6,173,285

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • KATRINA EGNER (PRESIDENT AND CEO)
  • MIKE DE LUCA (VICE PRESIDENT AND CFO)

Highest reported compensation

  • KATRINA EGNER (PRESIDENT AND CEO): $350,854 total reported compensation
  • MIKE DE LUCA (VICE PRESIDENT AND CFO): $230,673 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide low income housing to eligible low-income individuals.

What it reported doing in 2025

Valor apartment associates provide 21 units of affordable housing for persons with disabilities.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 65
  • Accountability: 84
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.8%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -50%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 14.7; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 1.35; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: -31.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.8% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $302K in reported program spending
  • Leadership: top reported pay $351K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 11 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.