Victory Housing Inc

Nonprofit profile at a glance

EIN
521261881
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Rockville, MD, USA
Phone
3014936000
Rating
91
Verdict
STRONG
Rating confidence
Standard
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$9,930,815
Expenses
$9,202,195
Assets
$67,256,334
Liabilities
$39,587,650

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

Leadership & pay

21 people listed

Executive titles in this filing

  • LEILA A FINUCANE (PRESIDENT & CEO)
  • MICHELLE M LIMERES (CORPORATION VICE PRESIDENT)

Highest reported compensation

  • LEILA A FINUCANE (PRESIDENT & CEO): $479,592 total reported compensation
  • JACQUELINE R SMEDLEY (SENIOR VP, ASSISTED LIVING): $331,543 total reported compensation
  • MICHELLE M LIMERES (CORPORATION VICE PRESIDENT): $300,873 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 and related services to low- and moderate-income senior citizens and families.

What it reported doing in 2024

Asset management of affordable housing projects & affordable housing project development

Operating model

Revenue model
Other-operating. 65% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 99% 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. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 96
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: $309.09 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • 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: 68.7%; rating input score 69; 18th percentile among comparable filings
  • 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: 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: 7.3%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 7.31; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 29.1%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 13.5% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 14.6% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.3M in reported program spending
  • Leadership: top reported pay $480K · 21 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 64 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 — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.