Skyway Housing Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- Only 6% of its spending went to programs.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
The specific purposes for which the Corporation is organized are to (a) provide affordable housing for persons of low to moderate income and (b) lessen the burdens of government through affordable and workforce housing.
- Income
- $82,745
- Spending
- $350,913
- Spent on programs
- 7%
- Reserves
- 72.5 months of spending
- Largest source of income
- investment income, 100%
- Employees
- 2
- Volunteers
- 4
- Highest pay
- $150,000, executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 55 out of 100. Higher than 29% of charities in its peer group (human services, under $250k).
Reserves
35 of 35Spendable reserves would cover 72.5 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
0 of 15Spending exceeded income by 324% of income.
Income trend
0 of 15Income fell 97% on the year before.
Spending floor
0 of 156% of spending went to programs.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 82 out of 100. Higher than 76% of charities in its peer group (human services, under $250k).
Independent board
25 of 254 of 5 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $22,689 spent. Cape Coral - Two applications under a request for proposal issued by Lee County for CDBG-Disaster Recovery funds were submitted for two phases of a mixed generation, mixed use affordable multifamily development - Residences at the Pines and Arbor at Pine Cove. Residences at the Pines is a 160-unit new construction Low Income Housing Tax Credit Bond Financed Development with a senior demographic serving households at or below 60% AMI. Arbor at Pine Cove is a 160-unit new construction Workforce Development with tax exempt 501(c)(3) bond financing serving households at or below 80% AMI. If the Commission chooses to award CDBG-DR funds to one or more projects, the higher scoring Residences at the Pines is the more likely phase to be awarded as it serves lower income residents. If neither phase receives a CDBG-DR award, the land purchase contract will eventually expire and ACRUVA and Skyway will likely no longer pursue development unless there is a reason to believe funds will otherwise be available and sufficient time remains under the contract. Glenwood Springs - We are exploring a potential opportunity with Andrew Ginsburg of Rocky Ledge Capital to develop a 36-unit workforce condo development on a parcel at 504 E Meadows Drive, Glenwood Springs, CO. The site is the last vacant parcel in a commercial condo development with numerous multifamily, commercial and hotel properties including Lowes, Target, Petco, Wells Fargo, Marriott and numerous smaller shops and restaurants. We anticipate signing the contract to purchase the land for $1M on Monday,February 24. There would be a 60-day due diligence period after signing the contract. This development would target 120% to 150% AMI ($85k-$140k income) and sale price of $400,000-$500,000. The total project cost is anticipated to be approximately $13MM. This would be a modular development, and our target market would be employees of schools, hospitals, banks, etc.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since May 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.