West Texas Housing Foundation

Nonprofit profile at a glance

EIN
752812332
IRS 990-EZ coverage
2023–2024
Forms available
Form 990-EZ 2024, Form 990-N 2022
Location
Lubbock, TX, USA
Phone
8067459559
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$109,384
Expenses
$26,027
Assets
$172,508
Liabilities
$3,750

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

Leadership & pay

8 people listed

Executive titles in this filing

  • VICKIE NOYOLA AL-SOUKI (PRESIDENT)
  • NICK BERGFELD (VICE PRESIDENT)
  • SHARI FLYNN (EXECUTIVE DIRECTOR)

People named in this filing

  • VICKIE NOYOLA AL-SOUKI (PRESIDENT)
  • NICK BERGFELD (VICE PRESIDENT)
  • TOM COUTURE (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To purchase, sell, manage and lease residential real property to individuals and families with low and moderate income.

What it reported doing in 2024

During 2024 wthf served as general contractor for the rehabilitation of the south plains apartments and the homestead apartments (now known as southstead apartments). The development is comprised of 244 apartment units built in the mid-1970s. Sources of funding for the acquisition and rehab of the apartments included conventional financing, as well as proceeds from the sale of tax-exempt mortgage revenue bonds and low income housing tax credits. Bonds and tax credits require that a minimum of 175 units be rented to tenants with incomes at or below 30% of lubbock's area median income ("ami"), and a maximum of 69 units be rented to tenants with incomes at or below 60% ami.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
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 program spending has grown recently. A relatively small share of available resources goes toward mission work and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 82
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 23.3%; rating input score 23
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 76.2%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 6.63; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 198.9% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 15.8% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 67.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 23.3% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $26K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • 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 23/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.