2828 Corbett Inc

Nonprofit profile at a glance

EIN
202021524
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Portland, OR, USA
Phone
5037255863
Rating confidence
Limited
Sector
Mutual/Membership Benefit N.E.C.

Reported finances

Revenue
$107,343
Expenses
$342,859
Assets
$2,900,572
Liabilities
$2,656,740

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • SARAH SCHWARZ (PRESIDENT)

Highest reported compensation

  • SARAH SCHWARZ (PRESIDENT): $455,949 total reported compensation
  • STACEY HENRIQUEZ VP (OF FINANCE AND ACCOUNTING): $240,064 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's primary purpose is to hold title to real property; collect income from such property; and turn over the entire amount 2828 corbett inc. 20-2021524 collected, less operating costs, depreciation and retirement of indebtedness to its sole member, portland state university foundation (the foundation), an Oregon nonprofit organization dedicated to supporting and promoting the mission of portland state university (the university). The organization leases the property to the university for its business accelerator program.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 28
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -219.4%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 8.46; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 26.2%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -11.9% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: Filed program service accomplishments
  • Leadership: top reported pay $456K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.