Woodlawn Housing Development Corp

Nonprofit profile at a glance

EIN
363516785
IRS 990 coverage
2012–2019
Forms available
Form 990 2019
Location
Chicago, IL, USA
Phone
7732885840
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$3,510,035
Expenses
$1,017,099
Assets
$1,538,815
Liabilities
$17,100

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • DR LEON D FINNEY JR (CHAIRMAN)
  • LEON JACKSON (DIRECTOR)
  • KRISTEN FINNEY - COOK (DIRECTOR)

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 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide affordable housing for the elderly and disabled

What it reported doing in 2019

The corporations program is to provide elderly and handicapped people with affordable housing facilities.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 83
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 6th 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 71%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 1.51; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 17.1% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: -8.8% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $974K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2012 to 2019
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.