Sunday, June 29, 2014

IRS Form 990's from Oregon Affordable Housing Assistance Corporation, 2010-2012.

Oregon's $220 Million Hardest Hit fund is administered by a public corporation headed by OHCS staff, the Oregon Affordable Housing Assistance Corporation.  A long time ago I posted their articles of corporation and their bylaws

It occurred to me that I hadn't found or posted their annual IRS 990's and I went to Guidestar and was able to download and compile their 990's for 2010, 2011, 2012 into a single document HERE. (Their 2013 990 is scheduled to be sent to IRS by mid August). 

Listing of Top 5 Contractors Annually Paid More than $100,000 a Year is Led by OHCS With Nearly $9.5 Million ; Non Profits Led List of Others with Those Larger Contracts .
990's have lots of financial and organizational details. 

A sample is gleaned from the section of the form (Part VII, Section B) where contractors receiving more than $100,000 in compensation are listed.  

In three years the 990's show that Oregon Housing and Community Services was paid nearly $9.5 million, and the number of contractors paid more than $100,000 was 13 in 2012, 16 in 2011, and 19 in 2010.

Non profits were 3 of the 4 next  highest paid contractors after OHCS in 2012 and 2011 and 4 of the next highest paid in 2010.

The 990's for these three years show $93.5 million in  revenue. So IF total eventual Oregon HH revenue is expected to be $220 million, the 990's for these 3 years include revenue that represents only 43% of that $220 million.

Payments by the non profit to OHCS represent 10.2% of the total non profit revenue for these three years.

Other Report Resources
The web page HERE has board meeting minutes; the last posted minutes are from November 2013; minutes from a Feb. 2014 meeting are not yet approved by Board and are therefore not yet posted.

Reports from the Oregon Homeowner Stabilization Initiative, including links to auditor reports, are HERE

Originally created and posted on the Oregon Housing Blog.

No comments:

Post a Comment