1717 Ridge Apartments Inc

Nonprofit profile at a glance

EIN
800949310
IRS 990 coverage
2018–2020
Forms available
Form 990 2020
Location
Dallas, TX, USA
Phone
9727157400
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Pension and Retirement Funds

Reported finances

Revenue
$2,340,816
Expenses
$261,824
Assets
$59,741,170
Liabilities
$1,183,807

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • MICHAEL KIRBY (PRESIDENT)

People named in this filing

  • R SCOTT DENNIS (DIRECTOR)
  • BETH ZAYICEK (DIRECTOR)
  • MICHAEL KIRBY (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To operate as a title holding corporation within the meaning of irc section 501(c)(25) and hold title to real property on behalf of public employees' retirement system of Nevada.

What it reported doing in 2020

1717 ridge apartments, inc. Operates as a title holding corporation within the meaning of irc section 501(c)(25) and holdstitle to real property on behalf of public employees' retirementsystem of Nevada (retirement system). The organization collectsthe income from the property and remits it to the retirementsystem.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 97
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 88.8%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 228.17; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -4.8% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -4.7% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 2 of 2 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 16 people listed
  • Highest-paid contractors: 1 contractor listed · $262K reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2018 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 21 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.