Wyoming Housing Network Inc

Nonprofit profile at a glance

EIN
753155083
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Casper, WY, USA
Phone
3074725843
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$2,805,149
Expenses
$3,760,045
Assets
$22,531,300
Liabilities
$18,706,782

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

Leadership & pay

9 people listed

Executive titles in this filing

  • MELISSA NOAH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MELISSA NOAH (EXECUTIVE DIRECTOR): $155,550 total reported compensation

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

Overview

Mission

To educate homebuyers and homeowners and work with partners to create and preserve affordable housing.

What it reported doing in 2024

Affordable housing program: whn has 481 units which provide affordable housing to the residents of casper, cody, riverton, torrington, powell, wheatland, cheyenne, and guernsey, Wyoming. Whn development owns and manages various housing corporations that assist in developing, constructing and operating housing facilities through limited partnerships in which the housing corporations act as a minority interest general partner. The organization also holds the limited partner interest in one partnership. The organization acts as a property management company for four properties. The organization provides financing to support whn development's activities associated with the following limited partnerships: Oregon trail, llc, rock creek apartments, llc, wolf creek apartments lp, cedar mountain apartments, llc, copper mountain apartments lp, powell court apartments llc, ironwood apartments llc, juniper ridge apartments llc, crow creek apartments llc, hawk's point llc, high plains, llc, and robin's point llc. The organization is the owner of spring hill apartments and esterbrook apartments, which also provide affordable housing, and old faithful, which is a commercial building.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 69
  • Accountability: 100
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.5%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 8 of 8 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -34%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 5.99; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 12th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $3.1M in reported program spending
  • Leadership: top reported pay $156K · 9 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $1M reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 25 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.