550 North Brand Owners Corporation C/o Clarion Partners

Nonprofit profile at a glance

EIN
133575025
IRS 990 coverage
2016–2018
Forms available
Form 990 2018
Location
New York, NY, USA
Phone
2128832527
Rating confidence
Limited
Sector
Homeowners & Tenants Associations

Reported finances

Revenue
$0
Expenses
$3,490
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

2 people listed

People named in this filing

  • KHALID RASHID (DIRECTOR/VICE PRESID)
  • DAVID WHORTON (TREASURER)

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 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

550 north brand owners corporation is organized under the internal revenue code section 501(c)(2) in order to hold title to property and distribute all income therefrom to its tax exempt owner.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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.

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: 75
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 100%; rating input score 100
  • 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -147.2% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: -144.9% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: Filed program service accomplishments
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2016 to 2018
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.