Crc Real Estate Corporation

Overview

Mission

To hold, maintain and operate commercial buildings near the principal offices in the orange county region of rady children's health (rch) and its affiliates. All net funds derived by this organization from its operations will be transferred to or will be available for transfer to rch, the exempt parent and sole corporate member of crc real estate corporation.

What it reported doing in 2024

The three commercial office buildings owned by crc house hospital administrative functions including finance, human resources, quality, business office and information systems departments. They also house some clinical operations as well as physician practices that support children's hospital of orange county (choc), now part of rch.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
330612565
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Headquarters
Orange, CA, USA
Phone
7149973000
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 60
  • Accountability: 88
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 69
  • Program expense ratio: 84.7%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 80%; rating input score 80; 15th 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: 16.4%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 9.32; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 7.2% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 84.7% of spending went to programs
  • Governance: 4 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8M in reported program spending
  • Leadership: top reported pay $2.6M · 12 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.7M reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 14 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.

Leadership & pay

12 people listed

Highest reported compensation

  • PATRICK FRIAS MD (PRESIDENT & CEO): $2,563,540 total reported compensation
  • KIMBERLY C CRIPE (PRESIDENT & CEO): $2,444,654 total reported compensation
  • KERRI RUPPERT SCHILLER (EVP/CFO/ASST SECRETARY (THRU 4/25)): $1,182,642 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.