Monterey County Housing, Inc. (MCHI) Monterey County Housing, Inc. (MCHI)
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Form 990
Recently (May 8, 2019), MCHI (and its sister entity MCHIAA), filed its annual tax return for the tax year ending June 30, 2018, Form 990, with the Internal Revenue Service. MCHI perceives this annual filing as a two-pronged opportunity to share important information with stakeholders and supporters:
        1. where MCHI fulfills an important compliance obligation required of all 
  non-profits; and
        2. where MCHI has an opportunity to provide fully transparent information
  about all of its activities.
MCHI takes both of these opportunities seriously and believes that a public charity has a responsibility to conduct its business in an open and fully transparent manner, and therefore openly share oue tax filings with the public and its engaged group of supporters.
Fulfill an Important Compliance Obligation.
By submitting financial, operational and governance information each year MCHI provides both federal agencies and the general public with standardized information that allows all an inside look at MCHI's operations.
With countless non-profit organizations and public charities operating across the country it is important to have a way to routinely and systematically review information about the operations and activities of all taz exempt organizations. This annual filing helps both oversight agencies and the general public access routine financial, operational and governance information that can be used to evaluate both the efficiency/effectiveness and financial operations of the tax expempt organizations that they have an interest in.
Provide Fully Transparent Information about MCHI's Activities.
Another valuable benefit is the opportunity to share additional information with the general public about the internal operations and financial activities of MCHI. The 2017 Annual Form 990 is posted to this website for your review and inspection

Audited Financials
Non profit organizations are not immune to fraud.
The non profit sector is often more susceptible to fraud and abuse than many for-profit enterprises.
To minimize the opportunities for fraud and abuse, nonprofits need strong board leadership and improved independent audits.
It is not just the potential loss of revenue from embezzlement that spawns MCHI's desires for prudent control but the consequential collateral damage that is probable. The lost revenue could be significant, but the impact of fraud will also be felt in the following critical areas:
        - Damage to the organization’s reputation
        - Negative publicity
        - Lower employee morale
        - Cost of litigation and investigation
        - Disruption to business operations
MCHI's is fortunate to have Novogradac & Co LLP as its independent auditor.
  • MCHI'S audit for the fiscal year ended June 30, 2018 is available here.
  • MCHI-AA's audit for the fiscal year ended June 30, 2018 is available here.

Bond Rating Standard & Poor's rating of MCHI's bonded debt is A+ as of April 30, 2019. S&P's analysis supporting this rating is available here.