Wayne Community Housing Development Corporation

Nonprofit profile at a glance

EIN
470775970
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Wayne, NE, USA
Phone
4023755266
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$2,298,218
Expenses
$774,958
Assets
$3,150,475
Liabilities
$831,490

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Megan Weaver (Executive Director)

Highest reported compensation

  • Megan Weaver (Executive Director): $36,208 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Community housing development.

What it reported doing in 2018

The purpose of the Wayne Community Housing Development Corporation's (WCHDC) Rural Workforce Housing Fund (RWHF) program is to provide funding opportunities for housing developers/contractors to entice them to build or rehabilitate workforce housing in the communities of Wakefield and Wayne. Qualified activities include the following:1. Down Payment Assistance Loans2. Construction Loans3. Closing Cost Assistance LoansOther forms of assistance may be eligible if they reduce the cost of workforce housing related to other eligible activities of the organization. The Loan Committee may approve requests for forgivable loans and/or grants however loans are preferred.

Operating model

Revenue model
Grant-funded. 70% 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 most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.5%; rating input score 32
  • Program expense ratio: 95.9%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 66.3%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 4.07; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 10.2% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 21.9% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 14.7% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 32.5% of revenue deployed · 95.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $743K in reported program spending
  • Leadership: top reported pay $36K · 10 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 32/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.