Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
91 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
22 people listed on the 990; $1.2M paid to officers and key staff.
Nancy Owens’s $269K as President is at the 71st percentile of top reported officer pay among 676 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Nancy Owens | $268,896 | $242,848 | $212,761 | $197,747 |
| Cynthia Lacasse | $246,347 | — | — | — |
| William Shanahan | — | $165,474 | $230,546 | $216,017 |
| William Eric Schmitt | $218,419 | — | — | — |
| Janet Spitler | $216,998 | $177,590 | $163,065 | $146,791 |
| Kathy Beyer | $203,303 | $175,559 | $165,006 | $153,619 |
| Sherrin Vail | $183,790 | $166,907 | $149,697 | $129,407 |
| Jennifer Ogden | $180,693 | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Builds and rehabilitates permanently affordable housing while investing in community and economic development projects to benefit low-income residents through public-private partnerships.
Questions for Evernorth
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Fostering low-income housing, and community development, alleviation and preventation of community deterioration through the production and rehabilitation of affordable housing as provided in internal revenue service revenue procedure 96-32 (inluding specifically the requirements that must be satisfied to qualify under the safe harbor of…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $381K | $5.6M |
| InvestmentsLn 11–13 | $6.6M | |
| Land, buildings, equipmentLn 10c | $0 | $569K |
| Total assetsLn 16 | $381K | $26.0M |
| LiabilitiesLn 26 | $0 | $9.3M |
| Net assetsLn 32 | $381K | $16.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $1.5M | $1.4M | $121K | |
| Other salaries and wagesLn 7 | $3.0M | $2.8M | $243K | |
| Pension plan contributionsLn 8 | $158K | $145K | $13K | |
| Other employee benefitsLn 9 | $498K | $458K | $40K | |
| Payroll taxesLn 10 | $319K | $294K | $26K | |
| Management feesLn 11a | $213K | $196K | $17K | |
| Legal feesLn 11b | $117K | $65K | $52K | |
| Accounting feesLn 11c | $193K | $178K | $15K | |
| Investment management feesLn 11f | $12K | $12K | ||
| Office expensesLn 13 | $134K | $123K | $11K | |
| Information technologyLn 14 | $171K | $157K | $14K | |
| OccupancyLn 16 | $340K | $313K | $27K | |
| TravelLn 17 | $86K | $79K | $7K | |
| Conferences, conventions and meetingsLn 19 | $37K | $34K | $3K | |
| Depreciation, depletion and amortizationLn 22 | $104K | $96K | $8K | |
| InsuranceLn 23 | $73K | $73K | ||
| Other expenses (24a–d)Ln 24 | $201K | $187K | $13K | |
| All other expensesLn 24e | $276K | $254K | $22K | |
| Total functional expensesLn 25 | $7.5M | $6.8M | $644K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $11.2M | $10.2M | $944K | $17.8M | 990 PDF |
| FY2023 | $8.9M | $9.1M | −$189K | $16.7M | 990 PDF |
| FY2022 | $9.3M | $8.4M | $934K | $16.4M | 990 PDF |
| FY2021 Viewing | $8.2M | $7.5M | $722K | $16.7M | 990 PDF |
| FY2020 | $0 | $381K | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $8,207,006 revenue, 12 lines filed
Part VI · Governance 14 of 14 board members independent, 2 to look at
Part VIII · Statement of revenue $8,207,006 across 7 lines filed
Part IX · Statement of functional expenses $7,485,233 across 18 lines filed
Part X · Balance sheet $26,020,823 assets, 17 lines filed
Part XI · Reconciliation of net assets $16,701,728 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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