Allapattah Business Development Authority Inc

Nonprofit profile at a glance

EIN
592289231
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Miami, FL, USA
Phone
3056353561
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$77,268
Expenses
$121,904
Assets
$432,599
Liabilities
$9,306

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Xiomara Pacheco (Executive Director)

Highest reported compensation

  • Xiomara Pacheco (Executive Director): $51,118 total reported compensation

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

Overview

Mission

Improve District 1 in City of Miami and promote business in the city as well as develop and administer affordable housing units

What it reported doing in 2024

Perform quality standards inspections for the City of Miami on housing rental units receiving Section 8 vouchers assistance.

Operating model

Revenue model
Grant-funded. 65% of the money available for current operations came from government grants.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 83
  • Accountability: 84
  • Sustainability: 29
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.7%; rating input score 65
  • Program expense ratio: 41%; rating input score 41
  • Fundraising efficiency: $13.66 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 22nd 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -57.8%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 3.55; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 41.9%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -48.4% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -21.8% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: -8.8% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 64.7% of revenue deployed · 41% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $50K in reported program spending
  • Leadership: top reported pay $51K · 5 people listed
  • Consistency: 42 of 43 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Program expense ratio scored 41/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.