Humboldt Homes Ltd: Nonprofit Profile, Financials & Form 990 (EIN 23-7409470)

Humboldt Homes Ltd Form 990 (PDF) Claim this org

Form 990 (PDF) Claim this org

Form 990 for the fiscal year ending December 2025 (IRS tax year 2025).

Provides affordable housing for seniors and people with disabilities.

Founded: 1975
Type: Membership association · Nonprofit
Location: Humboldt, IA
Filings: 6 on file (2020–2025)

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Provided by the organization

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Where the money goes · FY2025

Where spending went · Part IX cols B–D

87%

13%

Program services $0.87 Management & general $0.13

Operating surplus

-15%

revenue over expenses▼ -1897% vs prior filing year

Earned revenue

99%

of revenue from program services & dues-0.4% vs prior filing year

Payroll share

10%

of spending is salaries & benefits▼ -13% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2025 · Form 990

Total assets

$1.1M

FY2025▼ -12%

Total liabilities

$226K

FY2025▼ -16%

Revenue less expensesPt I · Ln 19−$96K

Total assetsPt X · Ln 16$1.1M

Program-expense ratioPt IX · col B87%

Voting members of governing bodyPt I · Ln 39

Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File

Legal name (IRS)Hdr · item CHumboldt Homes Ltd

EINHdr · item D23-7409470

Principal addressHdr · item CHumboldt, IA

WebsiteHdr · item Jnone reported

Year of formationHdr · item L1975

State of legal domicileHdr · item MIA

Exempt statusHdr · item I501(c)(4) · active

NTEE classificationIRS BMFNonprofit

Ruling yearIRS BMFNov 1975

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a9

Independent voting membersPt VI · Ln 1b9

Conflict-of-interest policyPt VI · Ln 12aNo

Whistleblower policyPt VI · Ln 13No

Document retention policyPt VI · Ln 14No

CEO/top-official compensation independently reviewedPt VI · Ln 15aNo

Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation

Merlin Graaf

Director

$0Pt VII · Sec A

Ron Rasmussen

President

$0Pt VII · Sec A

Ed Timm

Vice President

$0Pt VII · Sec A

Joan Kollmorgen

Director

$0Pt VII · Sec A

Craig Malloy

Director

$0Pt VII · Sec A

Kirk Whittlesey

Sec/Treas

$0Pt VII · Sec A

Roger Kleve

Director

$0Pt VII · Sec A

Deb Miller

Director

$0Pt VII · Sec A

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Mission & Programs · Part III

Where the work happens

1 program service account for $641K of program spending, described in the organization's own filed words · FY2025.

Expense of operating a 100 unit low income housing project for the elderly and the handicapped.

$641Kprogram expense

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Statement of Revenue

Part VIII

Program service revenue99%$640K

Investment income$3K

Other revenue$2K

Total revenueLn 12$644K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

87%

13%

Program services $0.87 Management & general $0.13

Program services87%$641K

Management & general13%$98K

Total functional expensesLn 25$740K

Balance Sheet

Part X · end of year

CashLn 1$168K

Total assetsLn 16$1.1M

Total liabilitiesLn 26$226K

Total net assetsLn 32$833K

Months of cash on handcomputed2.7

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $168K · Operating expenses/yr $740K

2.7 months

Where the money goes

Program services

Program services $641K · Total expenses $740K

87%

Management & General

Management & general $98K · Total expenses $740K

13%

Fundraising

Fundraising $0 · Total expenses $740K

Cost to raise $1

Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $0 · Total revenue $644K

Government reliance

Government grants — · Total revenue $644K

—

Earned-income share

Program service revenue $640K · Total revenue $644K

99%

Investment reliance

Investment income $3K · Total revenue $644K

+0.4%

Program self-sufficiency

Program service revenue $640K · Total expenses $740K

86%

Growth & trend

Revenue growth (YoY)

This year $644K · Prior year $610K

+6%

Revenue CAGR

FY2020 $651K · FY2025 $644K

-0.2%

Net-asset trend (YoY)

End of year $833K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $644K · Expenses $740K

-15%

Liabilities-to-Assets

Total liabilities — · Total assets $1.1M

—

Net-asset ratio

Net assets $833K · Total assets $1.1M

79%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.1M

People & payroll

Highest Reported Total Compensation

Individual Merlin Graaf · Reported title Director · Highest reported compensation $0 · Total expenses $740K

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) $74K · Total expenses $740K

10%

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Program ratio	87%	—	—
Overhead ratio	13%	—	—
Revenue growth	6%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

FY2025 (Latest)$644K revenue · viewing · ⤓ 990 PDF

FY2024$610K revenue · ⤓ 990 PDF

FY2023$627K revenue · ⤓ 990 PDF

FY2022$550K revenue · ⤓ 990 PDF

FY2021$745K revenue · ⤓ 990 PDF

FY2020$651K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2025IRS

Classification, formation year, addressIRS Business Master File

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