875 Building Llc

Nonprofit profile at a glance

EIN
900239307
IRS 990 coverage
2015–2017
Forms available
Form 990 2017
Location
Bellevue, WA, USA
Phone
4256795500
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Real Estate Associations

Reported finances

Revenue
$2,636,104
Expenses
$274,684
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • CATHERINE ANN PETERS (PRESIDENT/CEO OF PET PARTNERS)

Highest reported compensation

  • CATHERINE ANN PETERS (PRESIDENT/CEO OF PET PARTNERS): $242,484 total reported compensation
  • TERESA STARR (DIRECTOR OF FINANCE OF PET PARTNERS): $89,006 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Acquire real property, hold title to, and collect income from such property and remit the entire amount of income from such property, less expenses, to the member.

What it reported doing in 2017

875 building llc a 501(c)(25) organization. It was organized for the exclusive purpose of acquiring real property, holding title to, and collecting income from such property, and remitting the entire amount of the income from such property (less expenses) to the member of this company. The sole member of this company is pet partners, which is an organization that meets the requirements of section 501(c)(3). All distributions were paid to pet partners.

Operating model

Revenue model
Earned-program. 100% 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.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 77
  • Sustainability: 49
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • 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: 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; 64th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 89.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 13%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -2.2% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: 129.8% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: -76% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 23 of 23 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $275K in reported program spending
  • Leadership: top reported pay $242K · 27 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2015 to 2017
  • 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.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.