Vera French Housing Corporation

Nonprofit profile at a glance

EIN
421427313
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Davenport, IA, USA
Phone
5634457977
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing, Shelter N.E.C.

Reported finances

Revenue
$1,184,497
Expenses
$943,801
Assets
$3,011,529
Liabilities
$655,567

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

Leadership & pay

10 people listed

Executive titles in this filing

  • PATRICK MCELYEA (President)
  • RICK SCHLOEMER (Vice President)

Highest reported compensation

  • STACY KISER (Executive Dir.): $118,941 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 affordable housing options linked with appropriate supportive services for persons with severe and persistent mental illness and/or other serious challenges like low income and medical conditions.

What it reported doing in 2024

Vera French Housing Corporation was formed to assist individuals with mental illness and/or other serious challenges like low income and medical conditions to obtain permanent, affordable housing. Supportive services linked to the Vera French Community Mental Health Center, a related organization, are offered within the community. Vera French Housing Corporation offers 100 units of scattered site apartments and 34 units of shared living throughout Davenport and Bettendorf. In 2013, Vera French Housing Corporation opened the first staffed home for persons with mental illness that need additional assistance and oversight through staffing from The Center. There are now seven staffed homes throughout the community. Vera French Housing Corporation also works with individuals coming from shelters and homeless living situations.

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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.6%; rating input score 69
  • Program expense ratio: 86.1%; rating input score 86
  • 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: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 20.3%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 3.19; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 68.6% of revenue deployed · 86.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $813K in reported program spending
  • Leadership: top reported pay $119K · 10 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and related organizations
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 7 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 — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.