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PeerBasis
Compensation Comparability Determination

Somerset Court Apartments Inc

Executive Director / CEO

EIN 371746430
VA · NTEE L20
FY ending 2024-12-31
June 9, 2026

This analysis benchmarks the total compensation of Jeffrey Reed, Executive Director / CEO ($59,710) against every comparable organization that fit the selection criteria — 298 in total — drawn systematically from IRS Form 990 filings, not a hand-picked subset.

Compensation sits at approximately the 72nd percentile of comparable organizationswithin the typical range

Benchmarked executive: Jeffrey Reed — reported title “CEO/President”, a direct title match to the Executive Director / CEO role.

How comparable organizations were selected

298 organizations qualified on sector, size, and geography 298 within the band form the benchmarked peer set.

Distribution of comparable compensation

$158 total compensation of comparable organizations → $362,284 $59,710
$8,40810th
$18,95525th
$38,658Median
$62,11675th
$86,97590th
$59,710This org · 72nd
p10$8,408
p25$18,955
p50$38,658
p75$62,116
p90$86,975
$59,710

Comparable organizations

Each figure is Form 990 Part VII columns D + F (reportable pay plus other compensation and benefits; column F may include amounts from related organizations), normalized to VA cost of living (BEA RPP, 2023) and to its filing year (CPI-U); the reported amount is on each linked 990.

OrganizationStateRevenueMatched titleComp
(reported)
Comp
(adjusted)
FY
Chadwick Apartments Inc NC$320,374 President $15,432 $16,514 2024
Second Wind Cottages Inc NY$319,875 Executive Director $27,100 $26,111 2023
Community Home Builders And Associates CA$319,711 President $63,791 $57,049 2024
Heartland Sawyer Gardens Inc IL$324,810 President/ceo (Part Year) $64,935 $66,117 2024
Metropolitan Housing Coalition Inc KY$326,752 Executive Director $77,500 $86,235 2024
Mid-peninsula Coastside Inc CA$327,693 Cfo / Assistant Secretary $59,660 $54,931 2023
Girard Lutheran Housing Corporation PA$315,473 Chief Executive Officer $39,302 $41,791 2023
American Housing Preservation TN$328,072 President $4,000 $4,355 2024
Vincentian Housing Corporation Inc FL$328,159 Ceo $38,494 $37,453 2024
Habitat For Humanity MI$328,579 Executive Director $55,700 $61,302 2023
Memphis Chamber Foundation TN$314,663 President $48,815 $54,712 2023
Safe Haven Transitional Inc GA$314,571 Exec Director $70,042 $75,094 2023
Neighborhood Housing Inc WI$311,968 President $38,280 $41,405 2024
Stoney Pinecharities Housing Corp CA$311,730 President (Thru 12/24) $51,561 $46,112 2024
Rainbow Horizons CA$311,306 President & Ceo Of New Horizons $8,068 $7,428 2023
Twin Pines Apartments Inc ID$310,754 Chief Executive Officer $6,686 $7,366 2024
Parkway Commons Housing Development NY$332,966 Ceo $62,774 $58,749 2024
Start Easy Eagle Development NJ$333,018 Ceo $11,980 $11,078 2024
Community Housing Trust Of Sarasota FL$333,180 Executive Di $16,750 $16,297 2024
Habitat For Humanity International MT$333,351 Executive Director $55,650 $62,128 2024
New Development Corporation MI$334,395 Executive Director $81,471 $89,665 2023
287 Housing Development Fund Corporation NY$335,560 President (Through 2/23/24) $16,551 $15,490 2024
Woodys Home For Veterans LA$336,376 Executive Dir. $26,049 $29,707 2024
Martin Luther King Housing Development Association WA$306,914 Interim Executive Director $78,000 $72,326 2024
Fulton Gardens Ii Corporation TX$306,407 President $13,180 $13,655 2024

Comp (reported) is the figure on each organization's Form 990 (columns D + F); Comp (adjusted) normalizes it to VA cost of living and 2024 dollars. Click any organization to verify the figure on ProPublica.

Methodology

Comparable organizations were drawn from electronically filed IRS Form 990 returns and matched on sector (NTEE code), budget (a size-adaptive revenue band that tightens as the organization grows), and geography (same-state first, broadening only when too few peers qualify); every organization within the band forms the peer set. To compare fairly across regions and years, peer compensation is normalized to VA cost of living (BEA Regional Price Parities, 2023) and to the subject's filing year (CPI-U). The figure benchmarked is Form 990 Part VII, Section A, columns D + F — reportable pay plus other compensation, benefits, and deferred amounts (column F may include amounts from related organizations) — with the chief executive matched by role. Related-organization amounts (column E) and institutional trustees are excluded. Full methodology: peerbasis.org/methodology.

Sample, role match & sensitivity

Sensitivity — the subject's percentile under alternative compensation definitions:

BasisSubject percentile
Total compensation (D + F), cost-of-living + inflation adjusted — the PeerBasis default72nd
Total compensation (D + F), as reported (no adjustments)74th
Reportable pay only (column D), adjusted0th
All sources (D + E + F), adjusted87th

If the percentile moves materially across these definitions, the result is sensitive to methodology choices, and the board should weigh which basis best fits its facts.

Rebuttable presumption of reasonableness · 26 CFR 53.4958-6

Compensation paid by a tax-exempt organization is presumed reasonable — shifting the burden to the IRS — when three requirements are met. This report supplies the comparability data for the second. The board should record the following in its minutes concurrently with its decision:

Draft board minutes — executive compensation

  1. The compensation of the Executive Director / CEO (Jeffrey Reed) was approved in advance by [the Board / Compensation Committee], composed of members with no conflict of interest with respect to the arrangement.
  2. Prior to its determination, the authorized body obtained and relied upon appropriate comparability data, namely the PeerBasis Compensation Comparability Determination dated June 9, 2026, comparing compensation against 298 similarly situated organizations (Same NTEE sector (L20), nationwide + budget 0.67–1.5× revenue).
  3. The authorized body determined that total compensation of $59,710 is reasonable (approximately the 72nd percentile of comparable organizations) and documented the basis for this determination concurrently, on [date], by a vote of [__ for / __ against].

Sources: IRS Form 990 e-file data (apps.irs.gov); IRS Business Master File (NTEE classification). Every figure traces to an original public filing — click any organization above to verify it on ProPublica. PeerBasis is a service of Prismind Analytics; its methodology is published, was commissioned for independent adversarial review, and discloses its own limitations. This report is comparability data to support a board's good-faith determination under IRC 4958; it is not legal or tax advice. Generated by PeerBasis on June 9, 2026.