Wilmington Housing Partnership

Nonprofit profile at a glance

EIN
510320494
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Wilmington, DE, USA
Phone
3025763004
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$2,216
Expenses
$226,313
Assets
$878,549
Liabilities
$4,677,732

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

Leadership & pay

5 people listed

Executive titles in this filing

  • BOB WEIR (PRESIDENT)

People named in this filing

  • BOB WEIR (PRESIDENT)
  • HERBERT INDEN (TREASURER)
  • RICHARD GESSNER (MEMBER)

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

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

Overview

Mission

To collaborate with select private, non-profit, and governmental entities to increase the city of wilmingtons affordable housing stock by promoting renovation/rehabilitation and limited new home construction in stategically selected areas while supporting low to moderate income

What it reported doing in 2024

Subsidized contruction and renovation of affordable housing in wilmington, Delaware

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 21
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.9%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 24th 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; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10,112.7%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 3.88; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 5.32; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -11% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: 13.2% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: -11% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $224K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 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 — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.