Wakeland Opportunites for Affordable Housing

Nonprofit profile at a glance

EIN
472425040
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2018
Location
San Diego, CA, USA
Phone
6192352269
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$143,325
Expenses
$4,835,968
Assets
$75,814
Liabilities
$7,601,599

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

Leadership & pay

6 people listed

Executive titles in this filing

  • JONATHAN HUNTER (PRESIDENT)

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

Overview

Mission

The corporation is organized to assist and support its affordable housing activities, with an emphasis on development, construction and operation of decent, safe and sanitary housing and related services where an inadequate supply of housing exists for such persons and assisting low-income and moderate-income households by providing or facilitating social, educational and other services that improve their quality of life and self-sufficiency. The corporation is organized and shall be operated to qualify as a community housing development organization (chdo) under the cranston-gonzalez national affordable house act of 1990, as amended, and as defined in 24 code of federal regulations section 92.2.

What it reported doing in 2024

The corporation provides affordable housing and related services for low-income and moderate-income persons who are in need of affordable, decent, safe and sanitary housing and related services where an inadequate supply of housing exists for such persons and assists low-income and moderate-income households by providing or facilitating social, educational and other services that improve their quality of life and self-sufficiency.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 5
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

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: -3,274.1%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 100.27; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: -31% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 11.9% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: -4% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 3 of 3 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $27K · 6 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.