Civic Intelligence

Innovative Housing Inc.

990 • Fiscal year 2021 • EIN 93-0877440

Jul 01, 2020 to Jun 30, 2021 • Filed on May 10, 2022

219 NW 2nd AvePortland, OR 97209

(503) 226-4368

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

71st percentile

0.48x

Higher debt load relative to assets than 71% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

4.29x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

66th percentile

21%

Higher net margin than 66% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

16th percentile

$164,100

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

16th percentile

-0.7%

Faster asset growth than 16% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

8th percentile

-28%

Faster revenue growth than 8% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Assets

Down

$72,167,425

Down $495,044 (-0.7%) from 2020

Net Assets

Up

$37,614,863

Up $1,679,052 (+4.7%) from 2020

Liabilities

Down

$34,552,562

Down $2,174,096 (-5.9%) from 2020

Revenue

Down

$8,053,529

Down $3,128,743 (-28%) from 2020

Expenses

Down

$6,374,477

Down $170,523 (-2.6%) from 2020

Net Income

Down

$1,679,052

Down $2,958,220 (-64%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $20,813,611Liabilities 2010: $9,831,701Net Assets 2010: $10,981,9102010Assets 2011: $27,993,866Liabilities 2011: $15,482,126Net Assets 2011: $12,511,7402011Assets 2012: $29,186,139Liabilities 2012: $16,411,210Net Assets 2012: $12,774,9292012Assets 2013: $33,572,448Liabilities 2013: $19,249,078Net Assets 2013: $14,323,3702013Assets 2014: $34,776,800Liabilities 2014: $20,194,567Net Assets 2014: $14,582,2332014Assets 2015: $38,021,011Liabilities 2015: $20,588,208Net Assets 2015: $17,432,8032015Assets 2016: $45,882,000Liabilities 2016: $26,319,143Net Assets 2016: $19,562,8572016Assets 2017: $45,891,501Liabilities 2017: $25,104,405Net Assets 2017: $20,787,0962017Assets 2018: $54,272,358Liabilities 2018: $31,208,166Net Assets 2018: $23,064,1922018Assets 2019: $58,875,413Liabilities 2019: $28,494,807Net Assets 2019: $30,380,6062019Assets 2020: $72,662,469Liabilities 2020: $36,726,658Net Assets 2020: $35,935,8112020Assets 2021: $72,167,425Liabilities 2021: $34,552,562Net Assets 2021: $37,614,8632021Assets 2022: $64,094,123Liabilities 2022: $25,324,095Net Assets 2022: $38,770,0282022Assets 2023: $77,438,092Liabilities 2023: $32,038,671Net Assets 2023: $45,399,4212023Assets 2024: $83,639,675Liabilities 2024: $37,301,538Net Assets 2024: $46,338,1372024

Highlighted filing

2021

Assets$72,167,425
Liabilities$34,552,562
Net Assets$37,614,863

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0Expenses 2010: $1,785,1882010Revenue 2011: $4,439,130Expenses 2011: $2,909,300Net Income 2011: $1,529,8302011Expenses 2012: $3,038,6532012Expenses 2013: $3,364,9482013Revenue 2014: $3,771,155Expenses 2014: $3,512,292Net Income 2014: $258,8632014Revenue 2015: $5,018,871Expenses 2015: $3,644,384Net Income 2015: $1,374,4872015Revenue 2016: $5,976,527Expenses 2016: $4,345,090Net Income 2016: $1,631,4372016Revenue 2017: $6,149,899Expenses 2017: $4,816,892Net Income 2017: $1,333,0072017Revenue 2018: $7,918,329Expenses 2018: $5,641,233Net Income 2018: $2,277,0962018Revenue 2019: $13,551,028Expenses 2019: $6,234,614Net Income 2019: $7,316,4142019Revenue 2020: $11,182,272Expenses 2020: $6,545,000Net Income 2020: $4,637,2722020Revenue 2021: $8,053,529Expenses 2021: $6,374,477Net Income 2021: $1,679,0522021Revenue 2022: $7,538,206Expenses 2022: $6,383,041Net Income 2022: $1,155,1652022Revenue 2023: $14,383,837Expenses 2023: $9,189,906Net Income 2023: $5,193,9312023Revenue 2024: $10,368,755Expenses 2024: $8,866,773Net Income 2024: $1,501,9822024

Highlighted filing

2021

Revenue$8,053,529
Expenses$6,374,477
Net Income$1,679,052
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 10, 2022
Return Version
2020v4.1
Gross Receipts
$8,053,529
Mission and Program Overview

Mission

Develop, preserve and operate affordable housing for low and moderate-income households and provide services to residents to maintain housing stablity, improve quality of life and break the cycle of poverty.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$20,990,437$21,695,777▲ $705,340
Land, Buildings, and Equipment, Net$23,853,444$19,094,553▼ $4,758,891
Savings and Temporary Cash Investments$6,541,462$6,281,649▼ $259,813
Investments Other Securities$3,454,537$3,746,889▲ $292,352
Investments Program Related$1,747,478$1,548,490▼ $198,988
Accounts Receivable$211,346$333,600▲ $122,254
Cash and Non-Interest-Bearing Accounts$181,249$191,481▲ $10,232
Prepaid Expenses and Deferred Charges$148,091$148,957▲ $866
Total Assets$72,662,469$72,167,425▼ $495,044
Other Assets Total$15,534,425$19,126,029▲ $3,591,604
Liabilities
Mortgage Notes Payable Secured by Investment Property$36,265,168$34,070,238▼ $2,194,930
Accounts Payable and Accrued Expenses$446,731$436,008▼ $10,723
Deferred Revenue$14,759$46,316▲ $31,557
Total Liabilities$36,726,658$34,552,562▼ $2,174,096
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$28,859,673$30,940,992▲ $2,081,319
Net Assets With Donor Restrictions$7,076,138$6,673,871▼ $402,267
Total Net Assets Fund Balance$35,935,811$37,614,863▲ $1,679,052
Total Liabilities and Net Assets / Fund Balance$72,662,469$72,167,425▼ $495,044

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,548,490--
Buildings$15,579,616$11,549,341-
Land$3,409,078--
Equipment$105,859$199,721-
Other Assets Org$239,360--
Other Securities$3,746,889--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sarah StevensonExecutive DirectorPT$150,000$14,100$164,100
Julie GarverHousing DeveloperFT$127,000$13,200$140,200

Board Members and Trustees

NameTitle
Joseph HughesPresident
Darcy VincentBoard Member
Larry ByersBoard Member
Riad SahliBoard Member
Shawn MorganBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Silco Commerical ConstructionConstruction8316 N Lombard No 451, Portland, OR 97203$3,616,055
Emerick ArchitectsDesign Services321 SW 4th Ave Ste 200, Portland, OR 97204$797,109
Revenue and Support

Revenue Composition

Contributions and Grants
$435,104
Program Service Revenue
$7,152,475
Investment Income
$465,950
Other Revenue
$0
All Other Contributions
$384,104
Change in Net Assets
$1,679,052

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,053,529
Total Revenue per Audited Statements
$8,053,529
Total Revenue per Form 990
$8,053,529
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,308,457
Salaries, Compensation, and Employee Benefits$1,066,020
Total Fundraising Expense$18,525
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,072,391--$1,072,391
Other Salaries and Wages$711,608$12,287$96$723,991
Interest$704,664--$704,664
Current Officers, Directors, Trustees, and Key Employees$90,255$57,435$16,410$164,100
Other Employee Benefits$72,645$938-$73,583
Payroll Taxes$66,873$5,073$1,154$73,100
All Other Expenses$74$51,339-$51,413
Pension Plan Contributions$30,847$385$14$31,246
Office Expenses$24,040$2,892$181$27,113
Occupancy$23,443$2,820$176$26,439
Fees for Services Accounting$16,580$1,995$125$18,700
Insurance$9,810$1,180$74$11,064
Other Expenses$7,393$3,794$237$7,393
Fees for Services Legal$5,017$604$38$5,659
Fees for Services Other$3,050--$3,050
Travel$2,665$320$20$3,005
Total Functional Expenses$6,214,890$141,062$18,525$6,374,477

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,374,477
Total Expenses per Audited Statements$6,374,477
Total Expenses per Form 990$6,374,477
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Friendraiser$51,000$51,000-$51,000
Total Events$51,000$51,000-$51,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$0
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AState of Oregon2015-12-31$4,022,658Qualified 501c3 nonhospital

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$4,022,658-$632,360$20,113
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

Members of the board are given a copy of form 990 to review prior to filing. Any questions, comments or observations are presented to the Executive Director for clarification.

Conflict of interest policy compliance Part VI line 12C

The Executive Director and Board President monitor the conflict of interest policy and the organization has a standing informal policy of not conducting business with any board members or board members relatives.

CEO executive director top management comp Part VI line 15A

Executive Director compensation is determined by the board of directors based on comparability data gathered from reliable surveys of compensation for similar positions or data for at least three similarly situated employees in comparable positions.

Governing documents etc available to public Part VI line 19

Documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Innovative Housing Inc
EIN
93-0877440
Address
219 NW 2nd Ave, Portland, OR 97209

Signing Officer

Name
Sarah Stevenson
Title
Executive Direc
Phone
5032264368
Signed
2022-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Stevenson
Formed
1984
Legal Domicile
Or
Voting Board Members
5
Independent Board Members
5
Employees
15

Preparer

Firm
Carter Adams Tax & Financial Svcs
Address
4784 N Lombard St Ste B PMB 171, Portland, OR 97203
Preparer
Sarah Carter Adams
Phone
5033486430
Supplemental Narrative

Additional Explanations

General explanation attachment

Schedule K, Part V: The management contract has been structured upon consultation with bond counsel to comply with the qualified management contract rules described in Rev. Proc. 97-13.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PrincipalOfficerNm0Sarah Stevenson
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IRS990/ProgramServiceRevenueGrp/Desc0Property Ownership
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IRS990/ProgSrvcAccomActy2Grp/Desc0Resident Services: IHI complements its housing with Resident Services designed to help residents maintain their housing stability, improve their quality of life, and break the cycle of poverty.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0Asset Management: IHI is the managing general partner or managing member of 14 Limited Partnershps/Limited Liablity Companies that own 1,407 affordable rental units in Oregon and Washington.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$83.6$37.3$46.3$10.4$8.87$1.50
2023Detailed filing. Detailed filing data is available for this year.$77.4$32.0$45.4$14.4$9.19$5.19
2022Detailed filing. Detailed filing data is available for this year.$64.1$25.3$38.8$7.54$6.38$1.16
2021Detailed filing. Detailed filing data is available for this year.$72.2$34.6$37.6$8.05$6.37$1.68
2020Detailed filing. Detailed filing data is available for this year.$72.7$36.7$35.9$11.2$6.55$4.64
2019Summary only. Only limited summary data is available for this year.$58.9$28.5$30.4$13.6$6.23$7.32
2018Summary only. Only limited summary data is available for this year.$54.3$31.2$23.1$7.92$5.64$2.28
2017Summary only. Only limited summary data is available for this year.$45.9$25.1$20.8$6.15$4.82$1.33
2016Detailed filing. Detailed filing data is available for this year.$45.9$26.3$19.6$5.98$4.35$1.63
2015Detailed filing. Detailed filing data is available for this year.$38.0$20.6$17.4$5.02$3.64$1.37
2014Detailed filing. Detailed filing data is available for this year.$34.8$20.2$14.6$3.77$3.51$0.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.6$19.2$14.3$3.36
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.2$16.4$12.8$3.04
2011Summary only. Only limited summary data is available for this year.$28.0$15.5$12.5$4.44$2.91$1.53
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.8$9.83$11.0$1.79