Washington Housing Non-profit Inc

Nonprofit profile at a glance

EIN
582320952
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2012
Location
Washington, NC, USA
Phone
2526442413
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$522,283
Expenses
$444,900
Assets
$2,807,175
Liabilities
$1,866,026

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

Leadership & pay

8 people listed

Highest reported compensation

  • FRANKLIN SCOTT (SECRETARY-TREASURER): $79,364 total reported compensation

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

Overview

Mission

Organizations mission is to provide safe and affordable housing for low-income citizens of the town of Washington, North Carolina.

What it reported doing in 2024

Housing costs necessary to provide safe and affordable housing for low-income citizens.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
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 - 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.7%; rating input score 67
  • Program expense ratio: 77.9%; rating input score 78
  • 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 14.8%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 6.31; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 1% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 66.7% of revenue deployed · 77.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $347K in reported program spending
  • Leadership: top reported pay $79K · 8 people listed
  • Highest-paid contractors: 1 contractor listed · $352K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: 4 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.