Momentum Housing
97% goes to programs Thin reserves Growing revenue
Momentum Housing is a 501(c)(3) organization based in Omaha, Nebraska, registered in 1995, with $74,146,498 in FY2024 revenue. CharityIndex grades it C, and it directs about 97% of spending to programs.
11640 Arbor Street, Omaha, NE, 68144 EIN 47-0785685 Since 1995
Revenue (FY2024)
$74.1M
▲ 2.2% vs prior year
Housing median: $408K
Expenses (FY2024)
$84.2M
Net assets
-$75.3M
Employees
224
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
C+Program efficiency40% of the rating97% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Momentum Housing: 97% to programs earns a C+ on this criterion. See the exact thresholds →
FFinancial health25% of the rating0 mo reserves · -14% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Momentum Housing: 0 mo reserves · -14% margin earns a F on this criterion. See the exact thresholds →
C+Governance25% of the rating3 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Momentum Housing: 3 of 6 checks met earns a C+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Momentum Housing: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Momentum housing has been formed for the exempt purpose of construction, purchasing, owning, and operating affordable housing for low and moderate income individuals and families.
What they do
A 256 unit apartment complex project provided affordable housing to low and moderate income individuals and families. the project was acquired in december 2017.
Foundation for affordable housing is the general partner of the entities owning the following properties - all of which provided affordable housing to low and moderate income individuals and families: cross creek apartments in beaufort, south carolina, 144 units greens of pine glen in durham, north carolina, 168 units willow bend apartments in hilliard, ohio, 180 units crescent village in cincinnati, ohio, 90 units additional information is listed on schedule r
Contact & location
- Address
- 11640 Arbor Street, Omaha, NE, 68144
- City
- Omaha
- State
- Nebraska
- Category
- Housing & Shelter
- Subcategory
- Housing Development & Management
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $40K (FY2017) to $74.1M (FY2024) across 8 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $689.5MNet assets -$75.3M
Operating margin
-13.6%
Spent more than it raised in the latest fiscal year.
Total assets
$614.2M
Total liabilities
$689.5M
Net assets
-$75.3M
Salaries & benefits
$8.2M
10% of expenses
Board members
4
3 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $74,146,498▲2.2% | $84,234,477▼11.1% | -$75,274,361▼25.8% | $614,200,900▼4.6% | 990 |
| 2023 | $72,553,056▲6.2% | $94,749,069▲7.7% | -$59,855,548▼44.8% | $643,645,928▼2.8% | 990 |
| 2022 | $68,326,602▲96.7% | $88,011,731▲79.8% | -$41,349,410▼90.9% | $662,375,296▲25.2% | 990 |
| 2021 | $34,736,721▲195% | $48,939,935▲171% | -$21,664,281▼190% | $529,060,224▲184% | 990 |
| 2020 | $11,783,178▲202% | $18,029,481▲316% | -$7,461,067▼669% | $186,551,161▲491% | 990 |
| 2019 | $3,898,223▼11.9% | $4,331,933▼21.4% | -$969,781▼79.4% | $31,589,578▼0.1% | 990 |
| 2018 | $4,423,391▲11072% | $5,507,949▲1172% | -$540,492▼200% | $31,619,576▼2.7% | 990 |
| 2017 | $39,594 | $433,116 | $540,093 | $32,489,347 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Mark Hiatt — $610,000 (0.72% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Mark Hiatt | President | 55 | $610,000 |
| Mitchell Hiatt | Vice President and General Counsel | 60 | $375,000 |
| Sharise Engel | Chief Financial Officer (thru 9.30.2024) | 35 | $191,250 |
| Tyler Wilson | Senior Project Manager | 40 | $135,000 |
| Justin Ferrin | Assistant Vp | 40 | $122,077 |
| Teri Seidenglanz | Chief Financial Officer (as of 10.1.2024) | 35 | $12,500 |
| Dave Wilkinson | Director | 1 | $9,900 |
| Drew Fitch | Vice President | 1 | $9,900 |
| Steve Cockrell | Director | 1 | $9,900 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Nailed It R&r | Construction Services | $2,111,512 |
| Lexmar Services USA LLC | Labor Services | $624,389 |
| Asd Contractors Inc | Construction Services | $482,500 |
| Real Floors Inc | Construction Services | $470,579 |
| American Painting & Renovations Inc | Construction Services | $444,685 |
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Compare Momentum Housing
Frequently asked questions
- Is Momentum Housing a legitimate nonprofit?
- Yes. Momentum Housing is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 47-0785685, based in Omaha, Nebraska. Donations are tax-deductible.
- What is Momentum Housing's EIN?
- Momentum Housing's Employer Identification Number (EIN) is 47-0785685.
- How much revenue does Momentum Housing report?
- Momentum Housing reported $74,146,498 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Momentum Housing's spending goes to programs?
- Momentum Housing spends about 97% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Momentum Housing have?
- CharityIndex grades Momentum Housing C, based on program efficiency and fundraising cost.
- How much does Momentum Housing's highest-paid employee make?
- The highest reported compensation on Momentum Housing's latest Form 990 is $610,000, paid to Mark Hiatt (President).
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Data for Momentum Housing (EIN 47-0785685) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.