Apartment & Office Building Assoc of Metropolitan Washington

Nonprofit profile at a glance

EIN
530184431
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2022963390
Rating
44
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,939,100
Expenses
$5,666,066
Assets
$2,686,686
Liabilities
$937,230

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

Leadership & pay

36 people listed

Executive titles in this filing

  • MARK BENEDETTI (PRESIDENT)

Highest reported compensation

  • MARGARET JEFFERS ESQ (EXEC. VP): $498,521 total reported compensation
  • FRANN G FRANCIS (SR VP/GEN CO): $496,549 total reported compensation
  • BRIAN M GORDON (SR. VP/ GOV): $304,414 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 create, maintain and develop cooperation among building owners and managers to facilitate the interchange of ideas in conception, construction, management and maintenance of building and to promote the general management.

What it reported doing in 2024

Special education - seminars, general membership meeting, real property administrator program, certified apartment manager program, national leasing professional program and foundations of real estate management.

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 13
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -14.7%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 57.4%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 21 of 21 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $465K in reported program spending
  • Leadership: top reported pay $499K · 36 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $422K reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 9/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.