Abode Property Management

Nonprofit profile at a glance

EIN
942650901
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Fremont, CA, USA
Phone
5106577409
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$9,154,175
Expenses
$9,562,521
Assets
$21,542,460
Liabilities
$20,295,764

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

Leadership & pay

11 people listed

Executive titles in this filing

  • LOUIS CHICOINE (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • LOUIS CHICOINE (CHIEF EXECUTIVE OFFICER): $254,144 total reported compensation
  • JUANA D NUNLEY (CHIEF PROPERTY MANAGEMENT OFFICER): $178,914 total reported compensation
  • GEORGETTE BROWN (DIRECTOR OF PROPERTY MANAGEMENT): $140,148 total reported compensation

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

Overview

Mission

To end homelessness and prevent institutionalization of people with special needs in northern California. Special needs include developmental disabilities, psychiatric disabilities, medical conditions including drug and alcohol dependency, frail elderly, HIV/AIDS, and combinations of these disabilities.abode property management fulfills its mission by not only preserving the community's current stock of rental housing for very low-income special needs individuals, but also providing high quality management. The organization is also expanding the number of units of housing available to this population through partnerships to acquire or develop additional units in the community.

What it reported doing in 2024

The organization owns, operates, and manages a portfolio of affordable housing units and properties in order to end homelessness and prevent the institutionalization of people with special needs in northern California such as those with developmental and psychiatric disabilities, and medical conditions including HIV/AIDS and drug and alcohol dependency.

Operating model

Revenue model
Earned-program. 93% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 79
  • Accountability: 82
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.9%; rating input score 82
  • Program expense ratio: 78.8%; rating input score 79
  • Fundraising efficiency: $43.12 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.5%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 2.25; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 18.6% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 12.4% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 81.9% of revenue deployed · 78.8% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $7.5M in reported program spending
  • Leadership: top reported pay $254K · 11 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $437K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 22 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.